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Background Information

Employment History

Setdco Group

Setdco Group

Setdco Group

Web References (6 Total References)

With Setiawan Djody ...

00331a4.netsolhost.com [cached]

With Setiawan Djody (Chairman Of Setdco Group)

Mitrais Indonesia Mining News :: Mitrais - A service company with three business units: software development, mining solutions and medical information systems

www.mitrais.com [cached]

Owner of Setdco Energy, Setiawan Djody, stated his interest

For funding, Djody said his company will obtain 30%

The Jakarta Post - Setiawan Djodi's Setdco to take over Merpati

www.thejakartapost.com [cached]

Setdco's president Setiawan Djody told reporters on Wednesday that he had set up a consortium comprising of Setdco and Canadian and Australian companies to take over the stake.He did not namethe Canadian and Australian firms.

"I am hoping to take control of Merpati by possessing the majority shares in the company.We also will take over Merpati's debts," said Setiawan.
Setiawan said the consortium had sent the acquisition proposal to the Office of the State Minister of State Enterprises, but the office had not responded yet.
He said the acquisition was based on an intention to boost the performance of the company which had experienced financial troubles for years.
Seeking to dismiss worries among the airlines' workers, Setiawan promised that no employees would be laid off and the current management would be kept in place if the consortium managed to acquire the stake.
"There won't be any layoffs nor a management reshuffle.I believe Hotasi Nababan (newly-elected Merpati president) is capable and professional," Setiawan said.
Merpati, which is 93.5 percent owned by the government and 6.5 percent owned by national flag carrier Garuda Indonesia, has been in financial difficulties since 1998.
The airline was forced to return three of its 14 locally assembled CN-235 fixed-wing aircraft to state aircraft manufacturer PT Dirgantara Indonesia, to settle its debts with the company.
In addition, it has grounded its 11 CN-235 aircraft due to decreasing loads, increased competition and economic woes.

Guest Speakers

www.ifecorp.com [cached]

Setiawan Djody, Chairman, Setdco Group

BALI UPDATE #292 - 22 April 2002

www.balidiscovery.com [cached]

Setiawan Djody to Acquire Merpati?Flamboyant Indonesian Businessman Reported in a Move to Purchase 90% Share of Ailing Carrier.Shipping and telecommunications magnate and sometimes concert rock musician, 53-year-old Djody Setiawan is reported to be lobbying the Indonesian Government for permission to acquire a 90% share in government-owned Merpati Nusantara Airline (MZ).

Setiawan, the owner of the Setdco Business Group, has proposed a direct cash and non-direct cash deal that will inject US$ 1 billion into the debt burdened airline resulting in his control of 90% of the airline's shares.

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