During the 35 years of President Suharto’s New Order government, elections were held every five years and were called “feasts of democracy”. With a wink and a nod the ruling Golkar party would secure 70% of the vote and Suharto would say with his customary reserve that he would continue as President “if called upon”. Golkar officials would admit that the elections (with colorful rallies) were more experiments than anything. This year, however, Indonesians will have a real election feast with a generous menu of candidates, parties, regional and national votes. To top it off, many of the elections (including the President) will be direct for the first time. Lets hope no one gets indigestion. Beginning in April and ending in October (after the probable Presidential run-off election), Indonesia will hold elections for: national Parliament, regional representative’s assembly, local Parliaments, President and Vice President (probably twice), and local mayors or district leaders. (* see schedule in Political Affairs section)

From what can be observed from several polls and announcements of the independent election commission, the mechanics of organizing the vote as well as people’s awareness of the new voting rules are moving along. Yes, there are glitches already detected such as a botched tender for ballot boxes and a computerized reporting system that is untested, that could delay the elections. Similarly, a good number of voters are quite fuzzy about schedules and registration. But, with most people admitting they receive their information from television, election officials and individual parties should be able to organize a fair election similar to the one held in 1999. No one doubts they won’t be held.

The real question will be the enthusiasm of the Indonesian voter who voted overwhelmingly for change 5 years ago and has not seen enough of it. The 3-4% GDP growth achieved by the country with low inflation has brought stability but far from enough employment. President Megawati and her party (PDI-P) appear vulnerable to a nostalgic challenge from Golkar (the party in power during the “good times” before 1997) especially in the April Parliamentary elections. But, even if PDI-P loses ground here it does not mean that President Megawati risks losing the Presidency. The current leading Presidential candidates of Golkar –the only major party with an open convention to choose its standard bearer—are a retired general (Wiranto), the current House Speaker (Akbar Tandjung),and a business leader (Aburizal Bakrie) all of whom could have a tough time in a two way runoff with Megawati. The popular Sultan of Jogjakarta (also high on Golkar’s list) dropped out of the running this month after the Supreme Court overturned Tandjung’s corruption conviction. The major Muslim-oriented parties continue to have the same candidates as five years ago: Amien Rais (a leader of the 1998 reform movement), Abdurrahman Wahid (former President), Hamzah Haz (currently Vice President), and Yusril Mahendra (currently Minister of Justice). Although Tandjung recently said he would possibly be interested to serve as Megawati’s Vice President, it is probably too early to expect any serious coalitions until after the April elections. If Golkar does well in April it may want to compete for the Presidency head on.

The independent Susilo Bambang Yudhoyono (a retired general and currently Coordinating Minister of Security and Politics) gains frequent mention as a Presidential alternative to the above list. The problem is that he is better known and respected outside Indonesia than within where he appeals more to the intelligentsia than the average voter. Furthermore, although he has formed a political party it may not garner enough votes in April to place him on the ballot in July. Its not clear if an established party would name him as their Presidential candidate and he probably would not accept the #2 spot on another ticket.

Beyond these candidates there are a few true outsiders (the economist Sjahrir being one) with little name recognition and then there is the progeny pool. Three other children of Sukarno and one of Suharto’s daughters are trying to get on the ballot. Their parties are small and seem to stand little chance of gaining the required 3% of the vote.

Surveys point to economic concerns being primary over religion as would be expected. The established parties really don’t differ greatly on policies designed to address unemployment, dearth of investment and rising basic living costs. The traditionally secularist parties and candidates will make their gesture to Islam but in the end religion will only be one of many factors motivating voters. There will be some talk of issues such as jobs, security, foreign policy, standing tall internationally, the environment, subsidies, Islamic law, justice and religion but money, nostalgia, pure name recognition, and sheer popularity will probably be even more important to the average voter.

In the end, whether or not Indonesians are enervated by their “year of voting regularly” or grow more apathetic and fatalistic in the process could be just as important as who wins.

At least for now, business should have little concern that Indonesia will move away from its basic neoliberal, reformist economic agenda. How it implements it and at what pace is the continuing question, all the more so in an election year unlike any other in Indonesia’s history.

v BANKING AND FINANCE

IBRA CLOSES ITS DOORS

An Indonesian state agency set up five years ago to recover bank bailout funds totalling US$77 billion closed on Friday after clawing back just 28 percent of the total and with some banks still fragile.

The Indonesian Bank Restructuring Agency (IBRA), formed in the aftermath of the Asian financial crisis, was tasked with restructuring the collapsed banking system, promoting economic recovery and recovering state bailout funds.

The government in 1998 issued Rp 650 trillion (now $77 billion) worth of bonds, of which around Rp 425 trillion was earmarked for recapitalising banks. The rest was to be used to repay customers of banks which had been closed down.

Only 28 percent of that figure has been recovered from the sale of assets handed over by the owners of the ailing financial institutions.

IBRA chairman Syafruddin Temenggung has blamed the shaky legal system for the low recovery rate. He said earlier this month he had tried to file criminal charges against 10 non-cooperative debtors, three of which made it to court.

"But all three (cases) the government lost and we cannot put anyone in jail. That's a pity that I can really share with the Indonesian people out there," Temenggung said.

He also cited the poor quality of many of the assets IBRA took over, as well as government intervention. In one case, the collateral was a three-hectare graveyard and in another a plot of land turned out to be stretch of seabed in Bali.

Illustrating the point, Temenggung said on Friday that IBRA has left the finance ministry with Rp 10.8 trillion worth of "free and clear" assets it could not sell. These have an actual book value of Rp 108.5 trillion.

Some Rp 4.3 trillion worth of assets which are still in dispute will be taken over by a separate government "cleaning up team."

Temenggung has defended IBRA's record. In 1998, he said, Indonesia's banks had a worse capital adequacy ratio than those in Thailand, Malaysia, South Korea and the Philippines but last year it exceeded them.

Bappenas predicts economy to grow by 4.5% next year

The National Development Planning Agency (Bappenas) sees the economy growing by 4.5 percent next year, absorbing possibly some 1.4 million new entrants to the workforce, assuming no political turmoil during the general elections.

In a written statement on economic prospects for 2004, the agency said it was betting on an increase in all components of growth -- exports, consumption and investment -- to drive the economy faster than this year's estimated 4 percent.

Bappenas director for macroeconomic planning Bambang Prijambodo told a seminar here on Monday that the growth would still be led by consumption (both government and household), which was expected to grow by 5.1 percent.

Editor’s Note: Citibank Jakata’s Economist, Anton Gunawan predicts a similar growth rate (4.8%).

JITF Ends Mandate, Completes Most Tasks

The government, without much fanfare, dissolved in December the Jakarta Initiative Task Force (JITF) after it completed a fairly successful five-year mandate of restructuring most of the private sector's huge debts as it had been asked to do.

Having handed over a total of 102 cases worth of US$26.9 billion in debts, JITF managed to restructure 96 cases worth $20.5 billion, or close to 80 percent of the total value, JITF Chairman Bacelius Ruru told reporters.

"Most of the debts were dealt with in the form of rescheduling. But there are other ways, which are also popular: debt-to-equity swaps, debt-to-asset swaps and buybacks," Bacelius said.

Money Laundering Decrees Completed

As promised in its December economic “White Paper”, Indonesia has established, by government decree, a Financial Intelligence Unit and a National Committee on Money Laundering. This brings the country closer to international standards for monitoring suspicious financial transactions.

Bank Indonesia Gains Membership of Bis

JAKARTA, Feb 24 Asia Pulse/Antara - Indonesia's central bank, Bank Indonesia

has been accepted as a new member of the Bank for International Settlement

(BIS), its Governor Burhanuddin Abdullah said. Bank Indonesia was officially named member of BIS in September, 2003 but the membership was announced only last week when Burhanuddin opened a two-day meeting with BIS. Burhanuddin said it took 4 years or Bank Indonesia to gain BIS membership, during which it showed competency in carrying out its duty as a central bank. As a BIS member, Bank Indonesia will share dividend, have participation in BIS activities , access to BIS financial data and facility in regular consultation with BIS, he said.

v CONSUMER

Indonesia TO RAISE Local PHONE RATES

JAKARTA, Feb. 10 (Dow Jones)--Indonesia plans to raise the cost of local telephone calls by an average of 15% in the first quarter of this year after twelve months of delay due to nationwide protests against the proposal, the government said Monday.

The government had planned to raise the tariff in January 2003 to help boost profits at state-owned PT Telekomunikasi Indonesia (TLK), or Telkom, and make the company more attractive to foreign investors.

"We need to raise the tariff to make the telecommunications industry more competitive," Djamhari Sirat, the Director General for Telecommunications and Post at the Transport Ministry, told reporters Tuesday.

v MINING AND ENERGY

BP Signs Deal To Sell Indonesian LNG To US

WASHINGTON -- BP PLC (BP) signed a 20-year agreement Thursday to sell 500 million cubic feet a day of liquefied natural gas from the Tangguh project in Indonesia to U.S.-based Sempra Energy (SRE).

The deal with Sempra - signed in Washington, D.C., at an industry conference on liquefied natural gas - will be a boost for the Tangguh project, which is being developed in the remote jungles in West Papua Province by a consortium led by BP.

The deal will begin supplying 3.7 million tons of LNG per year from the Tangguh project to Sempra's proposed LNG import and regasification terminal in Baja California, Mexico.

U.S. Secretary of Energy Spencer Abraham said the deal with Sempra is a "key component" of meeting long-term U.S. energy needs.

Mitsubishi mulls supplying Indonesia LNG to U.S. market

The Mitsubishi Corporation is mulling supplying liquefied natural gas (LNG) from Indonesia to the California market in the United States.

Mitsubishi's energy business group manager in Jakarta Mauren Toruan said the firm's subsidiary Sound Energy Solutions had applied to the U.S. Federal Energy Regulatory Commission (FERC) and California's Port of Long Beach for a license to construct an LNG terminal at the port.

"After the filing, we will start serious negotiations to secure five million tons per annum of LNG for the terminal and send a delegation to Indonesia," said Mauren. The Jakarta Post Monday, February 9, 2004

v TRADE AND INVESTMENT

AICC helps reduce Credit/web fraud

AICC is receiving more complaints and inquiries concerning credit card fraud. The proliferation of web-based credit transactions, often via home-based businesses, has increased the risks in exporting to countries like Indonesia. In a typical transaction a stolen credit card is used to purchase a laptop computer which is then shipped to Indonesia. The card holder disclaims any knowledge of the transaction and funds are never transferred to the business owner even though the card used was approved. AICC has published a set of instructions on its website that will help small businesses from falling prey to these tactics.

A related scam often involves an Indonesian seller responding to a web ad. The buyer is asked to wire transfer 50% of funds to Indonesia with the balance after the goods arrive. They never do.

TRADE WITH US DROPS

JAKARTA, Dec 11 Asia Pulse/Antara - Indonesia's exports to the United States dropped by 3.12 per cent year-on-year to US$6.33 billion in the first eight months of this year.

Indonesia's share of the U.S. market also declined by 0.77 per cent, the Indonesian trade attaché in that country said in a report.

Declines were recorded in the export value of electrical machinery, footwear, mineral fuel, oil & oil products, leather articles and steel products.

E.U. pushes INDONESIA ON timber exports

The European Union this week pushed Indonesia to establish a certification of origin system for their wood exports, to prove they are using legally cut logs, but environmentalists said Thursday that only a boycott could slow the country's deforestation.

E.U. Trade Commissioner Pascal Lamy met with Indonesian President Megawati Sukarnoputri on Wednesday and encouraged her to swiftly put in place such a certification of origin system.

Indonesia is losing an estimated 3.8 million hectares of tropical forests per year, with more than 80 per cent of the timber cut illegally, according to recent data released by the government's forestry department.

The World Bank has forecast that Indonesia's remaining forest reserves in Kalimantan and North Sumatra are likely to be wiped out within the decade, if the rampant illegal logging isn't slowed. Deutsche Presse-Agentur January 22, 2004

Editor’s note: AICC has been advocating to the Indonesia government for better enforcement of its forest products policies. However, smuggling of illegally cut tropical hardwoods in and out of Indonesia continues to harm the development of its furniture and other wood products industry. At least one large US retailer, Costco, has discontinued its purchase of teak furniture from Indonesia over environmental concerns. Costco does not trust the “chain of custody” documents for the teak used by its local manufacturer.

v LEGAL DEVELOPMENTS

Indonesia Parliamentary Leader's Conviction Overturned

JAKARTA (AP)--Indonesia's Supreme Court overturned a corruption conviction against the parliamentary speaker - a ruling that allows him to run for president.

The ruling in favor of Akbar Tandjung, who also leads the Golkar party, will likely be seen as a further stain on a legal system already under fire for corruption.

"According to the team of judges, we find that the defendant should not have been found guilty," Judge Paulus Lotulong said in a final summary that precedes the reading of the verdict.

v POLITICAL AFFAIRS

2004 ELECTION TIMETABLE

Elections are a lively time, fraught with some anxiety as supporters of various parties and candidates can become quite emotional. The potential for "disturbance" does exist as parties have a youth wing that function in the manner of protective militias, especially during rallies. There is a 4 week campaign scheduled before each of the elections.

In 2004, there are two if not three national elections:

April 5th- Election of National and Regional legislatures (parliament)-parties that earn 3% of the national vote will be eligible to officially nominate a President/Vice President ticket.

July 5th- 1st round election President and Vice President-winner announced July 26

September 20- 2nd round election of President/Vice President (held if the July 5th election produces no ticket with 50% or more of the vote)-winners announced October 5th, inauguration October 20.

Parties who have more than 3% of the vote in the April elections will be eligible to choose a President/Vice President ticket for the election in July. For the first time in the nation’s history, Indonesians will vote for a person, not a party, in the Presidential elections.

Congressman Burton Establishes Indonesia Caucus

Indiana Congressman Dan Burton, a senior Republican on the House International Relations Committee, will chair a newly formed Congressional Indonesia Caucus. The Caucus, formally registered with the House Administration Committee, will serve as an informal, bipartisan group of members of Congress dedicated to maintaining and strengthening the U.S.-Indonesia relationship.

Mr. Burton said “Indonesia has the potential of becoming an example of what can be achieved in a newly democratized nation. Indonesia can serve as a model to the world of a thriving Muslim nation committed to democracy and a free enterprise system.” His office has begun soliciting membership in the Caucus and raising Indonesia’s profile among members. “The U.S. has the ability to support democratization in Indonesia by assisting in several key areas, including: education, internal security, economic governance, and strengthening the Parliament,” he said. (this news is courtesy of The US-Indonesia Society. USINDO takes delegations of Congressional staff to Indonesia and the caucus is partly the result of a recent trip)

In Indonesia, Rallies Are Growth Industry Political Parties Often Rent Supporters

In a slum just a stone's throw from the gaudy mansions of Indonesia’s rich and powerful, Rizal trades on human flesh and misery. Crowds of angry students, the urban poor, the rural poor, supporters, opposers, can all be rented for a price.

"Over the years, I've had orders for people from the parties of two presidents, but I'll work for anyone," said the 30-year-old Jakarta man, one of thousands of Indonesians who make a living arranging mobs. In the world's fourth-most-populous country, politics has traditionally been about crowds -- huge, noisy and sometimes violent.

However, Rizal's is an industry that has blossomed since mobs took to the streets in 1998, ousting the autocratic president, Suharto, and giving birth to a shaky democracy.

"Under Suharto, of course, demonstrations were not allowed. You'd be arrested and put in jail," Dewi Fortuna Anwar, a political analyst and former presidential adviser, said.

Because political rallies and campaigns in Indonesia are still based on numbers, rather than rooted in issues, some parties need to reassure themselves and their competitors that they have followers, so they rent mobs, she said.

"It's become a business. . . . Not all crowds are rented, but it shows political shallowness and economic need." Bappenas predicts economy to grow by 4.5% next year. By Dan Eaton, Reuters

Does He or Doesn’t He

Robert Dole, former US Senator and Presidential candidate has been mentioned in reports as having been retained by the Indonesian government as a lobbyist.

The Indonesian Ministry of Foreign Affairs denied on February 13 that Jakarta had hired former U.S. Republican Senator Bob Dole as an official lobbyist. "It's not correct that Bob Dole has been appointed as an Indonesian lobbyist in Washington," ministry spokesman Marty A. Natalegawa said at a media conference in Jakarta.

"The fact is that Bob Dole has expressed his readiness to help Indonesia on a case-by-case basis, but not hired as a lobbyist. There is no type of blanket contract," said Marty.

The Far Eastern Economic Review, in its Feb. 5 edition, reported that Dole had been hired by the Indonesian government to further its interests in Washington.

v Social/Cultural Affairs

Teenagers Share Views of Living in Indonesia

Reprinted from the Jakarta Post

Christopher Usher, 13, a student from England:
I think that Indonesia is really cool compared to where I currently live in England. The weather is really good and the people are very nice and friendly. I felt very comfortable living in Indonesia, sure there are crimes committed, but what country doesn't experience a crime or two? Which proves my point, why not live in Indonesia? Indonesia has got just as many good and bad points as all countries have. I feel Indonesia has a bit more to offer, with its rich ethical values and strong cultural background, which makes it an wonderful country to live in.

Luca Ferrini, 13, a student from Italy:
At first Indonesia was a little strange to me, because I had not traveled or lived out of Europe before. It was a lot different to Italy -- from the food, to the way people in the street call out 'Bule!' to you, to the environment, which is not as clean as it could be. The people here are very polite, friendly, and very talkative, which makes me feel welcome and comfortable. In Indonesia, people have a different lifestyle to people back in Europe. Here the majority of people seem to have a sense of a 'simple lifestyle'. The people also have a strong belief in religion, which I believe is a positive thing because it helps them through difficult times.

Sabrina Torrens, 14, a student from Australia:
I like Indonesia for many reasons. It has a wide variety of different cultures, styles of living, and is especially beautiful. To me, Indonesia is a very friendly place. The locals always treat you with respect and you always get a cheery smile from them. I used to live in Indonesia and it was very hard for me when it came time to leave. Apart from leaving close friends and relatives, I left what I thought was the most 'unreal' place. Indonesia is already a great place and it will be even greater if it can preserve its natural beauty and encourage more people
to appreciate the environment.

Karlina Hardjakusumah, 15, an American-Indonesian student:
I think Indonesia could actually be an even better place than it already is to live in and to visit if only it was a bit cleaner. I wish the government would give the beggars jobs instead of letting them live on the side of the road where they can't even make enough money to survive. But I am used to all those things because I have lived here for a long time. The currency is weak, so even visitors who may not be so rich back home can live here like kings. If you are a newcomer to Indonesia you may at first be a bit scared. But if you stay longer, you will be comfortable with all the differences and find you love it.

Rani Usher, 19, a student from England:
I would live in Indonesia any day, even with all the bomb threats and terrorist attacks. I have Indonesian blood and am proud of it. I love everything about Indonesia. From its many cultures to matters of family and friends! In much of Indonesia, people still hold on to important ethical values, which I think comes from their strong cultural backgrounds.

v TOURISM/TRAVEL

ITALY LIFTS TRAVEL WARNING

Jakarta, 19 December 2003 – The Government of Italy has revised its travel advice concerning Indonesia. The previous travel advice that stated against all non-essential travel to Indonesia has been cancelled. It has been replaced by a general advice of caution in view of the current worldwide terrorist threats, “…which at this stage are likely to happen anywhere, regardless of the country”.

The United States maintains a travel warning which advises against “non-essential travel”, however, US Ambassador Skip Boyce, recently said in Indonesia that the existing travel warning to U.S. citizens coming to Indonesia would not stop Americans traveling here during the elections. "It is not a ban... Americans are coming in and out of Indonesia all the time," Boyce said.

Indonesia Introduces $25 Visa Fee

JAKARTA (AP)--Indonesia began implementing a new travel policy February 1. Visitors from a number of countries began being charged a $25 visa fee upon arrival.

Indonesia abolished visa requirements for citizens of dozens of countries 20 years ago to attract more foreign tourists. But the government said it would reinstate them after claims that foreigners are working illegally in the country.

Tourists from 20 countries and one "special territory" will have to pay $25 for a 30-day visa, immigration official Ade Dahlan said.

The 20 countries include Argentina, Australia, Brazil, Britain, Canada, Denmark, Finland, France, Germany, Hungary, Italy, Japan, New Zealand, Norway, Poland, South Africa, South Korea, Switzerland, the United Arab Emirates, the U.S. and Taiwan.

Under the new policy, only citizens from Brunei, Malaysia, the Philippines, Singapore, Thailand, Morocco, Peru, Vietnam and Chile - as well as those with Hong Kong and Macau passports - will continue to enjoy visa-free privileges.

Citizens of other countries, including the Netherlands, must apply for visas at an Indonesian embassy or consulate before traveling.

The United States currently requires Indonesians to undergo lengthy visa application requirements (with nonrefundable fees), including interviews and security checks for males between 18-45.

v Events and Activities

February 25- Sidney Jones, Southeast Asia Director, International Crisis Group, “Indonesia’s Approach to Internal Security Threats”

March 4- ASEAN Commercial Officers at Citigroup, in cooperation with US Department of Commerce and BCIU

March 25- Dr. Sri Mulyani Indrawati, Economist and Indonesia’s Representative to the IMF

v Economic Indicators

Figures in Billions of $, except where noted	2001	2002	2003*
Population (millions)	215	224	231
GDP ($ billions)	145	172.9	179.1
Real GDP growth rate(%)	3.4	3.7	3.9
GDP Per Capita (nominal $)	609	811	830
Inflation (%)	12.55	10.0	5
Unemployment (%)	6.4	9	9
Foreign Exchange Reserves ($ billions, including gold)	29	31.5	32.6
Average Exchange Rate for $1.00 (Rp)	10,500	9316	8500-9000
U.S. Economic Aid (millions of $)	230	200	184

TRADE (billions of US $)	2001	2002	2003*
Total Exports(FOB)	56.3	57.9	58.7
Total Imports(CIF)	31	34.8	35.2
U.S. Exports	3.2	2.5	2.5
U.S. Market Share of Imports%	8%	8%	7%
U.S. Imports	7.7	9.6	9.3

Source: Government of Indonesia, Bank Indonesia, Central Bureau of Statistics, US Commerce Department and Embassy Projections Fiscal Year in Indonesia is April-March 31, Shares calculated from Indonesian Government Data ( *= preliminary)

TOP 5 US IMPORTS FROM INDONESIA (millions of US$)
	2000	2001	2002*
MACHINERY (ELECTRONICS)	2523	2487	2650
APPAREL/TEXTILES	2102	2262	2091
FOOTWEAR	731	725	729
OIL	569	573	473
FURNITURE	506	505	548

TOP 5 US EXPORTS TO INDONESIA (millions of US$)
	2000	2001	2002*
ELECTRONICS/MACHINERY	629	642	637
GRAIN/FOOD	285	368	328
CHEMICALS	264	192	178
WOOD/PULP/PAPER	236	147	179
COTTON	167	196	197

v New Membership Benefits

AICC pleased to announce several new membership benefits. Remember, you must be an active, “paid-up” member to receive them as these sponsors will ask for confirmation of your membership.

Travel:

The 5 star Shangri La Hotel in Jakarta is offering significant reductions off their published rates for AICC members. Similar discounts apply for their Surabaya Hotel.

Room Type	Published Rates		AICC Corporate Rate
	Single	Double	Single	Double
Deluxe	$175	$205	$110	$125
Horizon Club	$210	$240	$140	$155
Executive Suite	$330		$210
1 Bedroom Suite	$390		$252
2 Bay King Suite	$625		$387

Rates include a buffet breakfast, free access to fitness center, mileage credits on 29 airlines.

Horizon Club guests have express check-in, check-out, complimentary fruit baskets, suit pressing, usage of meeting rooms, afternoon tea, choice of newspapers

To reserve from the US: Contact Shangri La Sales at (212) 768-3190. Please state you are a member.

Shangri-la has recently enhanced its already outstanding security procedures.

30% Off New Publication on Indonesian Politics and Security:

The emerging Indonesian democracy and reform era is now being analyzed weekly by Kevin O’Rourke’s new publication, Reformasi Weekly. O’Rourke, a speaker at AICC’s June event that examined the reform movement 5 years out, is offering up to 30% off his subscription rates. A regular monthly subscription (4 issues per month) is $422 and includes up to 10 email recipients in an organization. But with the 20% introductory discount and further 10% to AICC members the rate would be $303, an annual savings of $1428. Attached is this week’s edition and an introductory statement with O’Rourke’s background and complete subscription information. You would contact O’Rourke directly to set up your subscription (which usually comes as an email attachment) at kevin.orourke@reformasi.info. Please let him know you are a “paid-up” AICC member and he will check with us to validate. O’Rourke, who has resided in Indonesia for the last 8 years, has the talent, experience, and contacts to present a more thorough picture of policy and political developments than may be available through the public media.

v NEW MEMBERS

AICC is pleased to welcome the following new members to our roster:

Consolidated Services International- based in Indonesia, CSI provides security guards and personal body guards for US operations, and general commercial investigative services. Contact: James Filgo, VP Operations, phone (01162217971809), email: jdf@interteknis.co.id.

WorldBusiness Capital- a Hartford, CT commercial finance company that makes loans to meet the needs of U.S. companies doing business in global emerging markets. Has a particular interest in financing sales of US equipment and commodities of small to medium-sized businesses to and from Indonesia. Contact Brett Silvers, President, phone (860 246-6300 ext. 110), email: bsilvers@worldbusinesscapital.com.

Stonemount Corporation- import and marketing agent for rubber products from Indonesia. Contact: Robert Blumberg, President, phone (516 294-3232), email: stonemont@aol.com.

Natural Carpet Company- manufactures carpets in Palembang for US market made from abaca fibers. Contact: Norman Marks, President, phone (310 447 7965), email: (nm@naturalcarpetcompany.com).

Saxo Bank-Saxo Bank A/S is a global investment bank serving retail and institutional clients directly and through white label partnerships worldwide. Headquartered in Copenhagen, Denmark, the firm's trading platform, The SaxoTrader, is internationally recognized as "best in class" by Euromoney Magazine and FX Week 2003 Reader Survey. The SaxoTrader offers investors a multi-product trading platform on which clients can trade FX, CFDs (stocks on margin), Futures and Managed Funds on real, live streaming prices. Saxo Bank is currently seeking partnerships for its products in Indonesia. Contact Michael Moschides Tel: (914) 980-1163; Email: mmo@saxobank.com

OUTLOOK/INDONESIA is published quarterly by the American Indonesian Chamber of Commerce, a non-profit membership organization established in 1949 to promote commerce and understanding between the United States and Indonesia. For membership and other information, contact Wayne Forrest, Executive Director, at (212) 687-4505.

Web address:www.aiccusa.org