Erry Riyana likely to be replaced today
Thursday, May 17 2001 - 04:30 AM WIB
The president of state tin mining company PT Timah, Erry Riyana Harjapamekas is likely to be replaced at the company's shareholders meeting on Thursday (May 17), Koran Tempo daily reported on Thursday.
The daily quoted government sources as saying that the planned replacement of Erry had been ordered by President Abdurrahman Wahid, who viewed Erry as one of former mines and energy minister Ginandjar Kartasasmita's allies.
Ginandjar, also deputy speaker of the People's Consultative Assembly, the country's highest legislative body, is one of Abdurrahman's political foes.
The issue of Erry's replacement came when Minister of Finance Prijadi Praptosuhardjo and Director General of State Enterprises Development I Nyoman Tjager stated recently that the government was looking for best candidates for Timah directors.
It was not clear, however, who will replace Erry.
Erry was not available for comment. Erry said earlier that if he must be replaced, he would be ready to hand over Timah's presidency to anyone appointed by the government. However, he warned that he would not like his dismissal be associated with any rumour surrounding his relationship with Ginandjar and Abdurrahman.
Erry's term at Timah will actually end in 2003 following his appointment as Timah president in 1998 through the company's shareholders meeting.
Timah's financial performance has been declining since 1998, when the company booked a net profit of Rp 1.3 trillion. In 1999, the company's net profit dropped to 754 billion. The company's tin output also dropped to 39 metric tons in 1999 from 43 metric tons in 1998. (*)