Four Seasons Hotel ?interested? in KPC?s shares

After remaining in mystery for many months, a senior official of the East Kalimantan provincial administration finally revealed some names behind the organization which promised financial backup for the provincial administration to acquire the shares in coal mining company PT Kaltim Prima Coal (KPC).

Earlier, Kaltim Post quoted sources as saying that PT Intan Bumi Inti Perdana, which promised financial backup for the province, was partly owned by David Lim, who is a cousin of Indonesian blacklisted tycoon Liem Sioe Liong.

But, Syaiful Teteng, second assistant to the province?s secretary, told the paper on Thursday that Intan is owned among others by international hotel chain Four Seasons Hotel headquartered in Hong Kong.

He further said army Lt. Gen. Moetojib,who is former intelligence chief and commander of the Kalimantan military, was a member of the company?s board of commissioners.

?As far as I know, Pak Moetojib is in the company (Intan) and Four Seasons Hotel is one of the shareholders,? Teteng said.

Intan has reportedly promised Rp 3 trillion (US$=Rp 11,225) in financial backup for the province to buy the 51 percent shares which KPC will divest this year.

Under the contract, KPC, as well as other coal contractors, has to sell up to 51 percent of its shares to the Indonesian government, state companies, Indonesian-controlled private companies, and Indonesian citizens after ten years of production.

The country?s second largest coal producer, which operates a huge coal mine in Sangatta, East Kalimantan, is equally owned by Anglo-Australian mining giant Rio Tinto and Anglo-American energy firm BP.

The East Kalimantan administration has a strong interest to buy the shares in a planned joint venture with Intan but the administration has thus far turned down the central government?s request for it to name Intan?s shareholders. (*)