Hutchison under pressure in Jakarta

Jakarta: Hong Kong’s Hutchison Port Holdings (HPH) could come under some pressure to cut its stake in a Jakarta terminal.

The State-Owned Enterprises Ministry has told state-run terminal operator Pelindo II to up its shareholding in Jakarta International Container Terminal (JICT).

"We support Pelindo II's plan to renegotiate the JICT contract, but it has to increase its shares to above 51% so that it becomes the major shareholder," State-Owned Enterprises Minister Dahlan Iskan said in Jakarta on Thursday, as quoted by Antara news agency.

The terminal, founded in 1999, is currently 51% held by HPH while Pelindo holds 48.9% of the shares with the remaining 0.1% belonging to Koperasi Pegawai Maritim, or the Maritime Employee Cooperative.  [18/07/14]

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