Jakarta Forum - Jakarta, Jan 27 - PT Indosat Tbk. signalled it would change its board of directors because shareholders are not happy with the performance of its management so far, state enterprise minister Mustafa Abubakar said.
"Shareholders would meet tonight to discuss the issue among others," he said here on Wednesday.
He said one of the agenda of the shareholder meeting on Thursday would be changing the board members.
He said the meeting would be attended by the shareholders including Qatar Telecom (Qtel) and the Indonesian government, the holder of the company`s Series A shares.
"It cannot as yet be ascertained. It will all depend upon the result of the meeting which is coordinated by one of the commissioners, Rachmat Gobel," Mustafa said.
He admitted as the shareholder representing the Indonesian government in the company he was not too happy with the performance of the current management led by Harry Sasongko.
"We hope Indosat would remain agressive and expansive. Its current performance is not satisfying," he said.
According to data, Indosat under Qtel had never been able to win in competitions.
Since the end of 2009 its position in terms of the number of customers or infrastructure has been overtaken by PT XL Axiata Tbk.
In 2009 Indosat only had 17,618 towers (BTS) while XL`s towers already totalled 18,790.
At the same time XL customers already reached 31.4 millions above Indosat`s which totalled around 30 millions.
According to earlier rumours the vice president director of state-owned electricity company PT PLN, Rudiantara, would be made Indosat`s executive board member.
Rudiantara who once worked in XL and also used to be the vice president director of PT Semen Gresik was rumoured to be nominated by the Indonesian government to replace Harry Sasongko.
Mustafa seemed to be impressed by Rudiantara who was considered professional. "That is why I would not give directives. We will refer the decision to the shareholders," he said.
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