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RR RUEHCHI RUEHDT RUEHHM
DE RUEHJA #2555/01 2890538
ZNR UUUUU ZZH
R 160538Z OCT 06
FM AMEMBASSY JAKARTA
TO RUEHC/SECSTATE WASHDC 1264
RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUCPDOC/DEPT OF COMMERCE WASHDC
RHMFIUU/DEPT OF ENERGY WASHINGTON DC
INFO RUEHZS/ASSOCIATION OF SOUTHEAST ASIAN NATIONS
RUEHKO/AMEMBASSY TOKYO 0050
RUEHBJ/AMEMBASSY BEIJING 3676
RUEHBY/AMEMBASSY CANBERRA 0012
RUEHUL/AMEMBASSY SEOUL 3773
RUEAIIA/CIA WASHDC

UNCLAS SECTION 01 OF 07 JAKARTA 012555 
 
SIPDIS 
 
SENSITVE 
SIPDIS 
 
DEPT FOR EAP/MTS, EB/ESC/IEC, EB/TPP/BTA/ANA 
TREASURY FOR IA- 
DOE FOR CUTLER/PI-32 AND NAKANO/PI-42 
USDOC FOR GOLIKE/4430 
 
E.O. 12598: N/A 
TAGS: ECON EINV ENRG ETRD EFIN PGOV ID
SUBJECT: US-ASEAN BUSINESS COUNCIL DELEGATION VISITS JAKARTA 
 
¶1. (SBU) Summary.  President Susilo Bambang Yudhoyono (SBY) 
told a visiting U.S. ASEAN Business Council (USABC) 
delegation on October 12 that he remains optimistic about 
Indonesia's economic outlook and committed to economic 
reforms and the process of democratization.  Vice President 
Jusuf Kalla told the group in a separate meeting that the 
GOI places a high priority on macroeconomic stability and 
security to encourage investment.  Coordinating Minister for 
Economic Affairs Boediono said the Government's resolve to 
improve the investment climate "remains intact and has even 
grown stronger" and that "tangible progress" is likely by 
the end of 2006 in several areas including the passage of 
new customs and investment laws.  Minister of Trade Mari 
Pangestu said the Government of Indonesia (GOI) is focused 
on improving its customs procedures and is working with 
Singapore on a Free Trade Zone pilot project in Batam. 
Investment Coordinating Board (BKPM) Chairman Mohamed Lutfi 
claimed poor regulation of the non-bank financial sector is 
holding back Indonesia's economic development.  Minister of 
Energy and Mineral Resources Purnomo Yusgiantoro described 
the GOI's biofuel development initiative, and said the GOI 
seeks to develop operational nuclear power plants by 2015. 
Coordinating Minister for Political, Legal and Security 
Affairs Widodo A.S. said the GOI continues to undertake 
judicial reforms and pursue its anti-corruption campaign in 
an effort to provide greater legal certainty and contract 
sanctity.   Minister of State Owned Enterprises Sugiharto 
said the GOI wants to consolidate and streamline the current 
139 State-Owned Enterprises (SOE) to 85 by 2009, but 
acknowledged this task would be politically difficult. 
Paragraph 21 reprises the key issues Mission members raised 
during their various meetings with the GOI.  End Summary. 
 
¶2. (U) A 41-member USABC delegation visited Jakarta October 
9-12 to hold meetings with SBY, Vice President Kalla, and a 
number of GOI Ministers and senior officials.  In addition 
to the ministers cited above, the delegation also met 
Finance Minister Sri Mulyani Indrawati, State Minister of 
Research and Technology Dr. Kusmayanto Kadiman, and State 
Minister for National Development Planning Paskah Suzetta. 
At the conclusion of the mission, BKPM Chairman Mohamed 
Lutfi and USABC President Matthew Daley signed a Memorandum 
of Understanding to promote greater U.S. investment in 
Indonesia and closer links between the U.S. and Indonesian 
business sectors.  A list of companies with representatives 
who participated in the mission is in paragraph 22. 
 
President Susilo Bambang Yudhoyono 
---------------------------------- 
 
¶3. (SBU) SBY began the October 12 meeting by noting that 
many companies represented in the delegation had long 
histories in Indonesia and that, in general, U.S. investors 
had not abandoned Indonesia during the worst moments of the 
Asian Financial Crisis.  SBY stressed that he remains 
optimistic and committed to economic reform and Indonesia's 
democratization.  In spite of all the challenges Indonesia 
and his government have faced -- such as the tsunami, 
earthquakes, terrorist attacks, avian influenza, haze, oil 
price increases, and high interest rates -- Indonesia's 
macroeconomic indicators continue to improve: exports grew 
by 17% in 2005, GDP growth is expected to top 6% in 2007, 
the debt-to-GDP ratio could drop to 40% in 2007, and 
interest rates and inflation continue to decline.  Further, 
Indonesia advanced in September 2006 from 69 to 50 on the 
World Economic Forum's Global Competitiveness Index rankings 
for 2006-7 and the Jakarta Stock Exchange is one of the top 
three performers in Asia. 
 
¶4. (SBU) SBY noted that to encourage greater investment, the 
GOI is undertaking major reforms, focusing on infrastructure 
development, combating corruption, and creating a special 
economic zone on Batam, Bintan and Kariman Islands.  He said 
the Government's anti-corruption drive has investigated 90 
mid-to-high-level officials, including seven governors, 50 
regents and vice regents, 10 mayors, and 13 members of the 
National Parliament.  As a consequence, a "fear factor" is 
deterring corrupt practices among many GOI officials.  He 
 
JAKARTA 00012555  002 OF 007 
 
 
added that democracy, good governance, transparency and 
accountability are inextricably linked to economic growth, 
job creation and poverty alleviation. 
 
¶5. (SBU) On energy policy, SBY noted that Indonesia hopes to 
add 10,000 megawatts of power generation in the next few 
years.  He opined that the days of oil prices below $40 per 
barrel are likely over, and that as a result, it is 
important for Indonesia to explore alternative energy 
sources such as biofuels.  He felt Indonesia would be 
particularly competitive in this area given its wealth of 
arable land. 
 
Vice President Kalla 
-------------------- 
 
¶6. (U) In his October 10 meeting with the group, Vice 
President Jusuf Kalla noted that the GOI places a high 
priority on macroeconomic stability and security to 
encourage investment.  He said he hopes that foreign direct 
investment (FDI) will bring a multiplier effect to Indonesia 
and create more jobs.  "We need a lot of growth and 
investment to help our 240 million people," he stated. 
Indonesia needs more value-added industry in manufacturing, 
energy and technology.  USABC President Matt Daley said that 
some U.S. companies have been taking a fresh look at 
Indonesia, along with those which already have a long-term 
relationship. 
 
Coordinating Minister for the Economy Boediono 
--------------------------------------------- - 
 
¶7. (U) Boediono admitted in his October 9 meeting with the 
group that the GOI's progress in improving the investment 
climate has been mixed since SBY signed Presidential 
Instruction 3/2006 in February 2006.  Nonetheless, Boediono 
said the Government's resolve to improve the investment 
climate "remains intact and has even grown stronger" over 
the last few months.  Boediono said he expects "tangible 
progress" by the end of 2006 in several areas including the 
passage of a new Customs and Excise Law and a new Investment 
Law.  However, the passage of the three tax amendments now 
before Parliament is much less sure, and Boediono said he 
could not even offer "90% assurance" that the three would 
pass.  Of the three amendments, the draft amendment to the 
Law on Tax Administration is the most important because it 
would establish a new relationship between tax officials and 
taxpayers, including the business community.  Boediono said 
he hoped at least one of the three tax bills would pass in 
2006 and be operational in 2007. 
 
¶8. (U) Improving Indonesia's labor regime is the most 
difficult investment climate issue the GOI faces, Boediono 
acknowledged.  The issue is politically sensitive, and after 
consultations with stakeholders, the GOI has decided not to 
seek changes to Indonesia's labor law "this year or even 
next year."  Rather, the GOI will look into the possibility 
of improving the labor climate through changes in 
regulations.  "There are a number of areas where we could 
adjust regulations," Boediono said.  The GOI is also 
committed to cutting processing times for investors at the 
national and local level.  A number of regency or city 
governments in Central Java, Kalimantan, Bali, and other 
areas have established "one-roof" or integrated service 
centers for investors, and the Government's Special Economic 
Zone (SEZ) strategy is also aimed at simplifying approvals 
in designated areas.  Batam serves as the pilot project for 
the GOI's SEZ strategy, and Singapore is helping Indonesia 
in three areas: improving the regulatory climate through 
feedback from investors and identifying on-the-ground 
problems; raising Indonesia's capacity to manage SEZs; and 
raising the level of vocational training. 
 
¶9. (SBU) Boediono also offered some details on the GOI's 
efforts to reform the bureaucracy.  He told the group SBY 
has appointed a small team or "Presidential Delivery Unit" 
to be attached to the Office of the Presidency.  The team 
will help the President monitor and accelerate reforms in a 
 
JAKARTA 00012555  003 OF 007 
 
 
number of important policy areas, including the investment 
climate, bureaucratic reform, state-owned enterprises, and 
legal reform.  The team is "good for Ministers like us", 
Boediono noted because it will increase the GOI's capacity 
to develop and implement reform measures.   Boediono 
concluded by thanking the delegates for the support of U.S. 
business in Indonesia.  "Democracy requires patience," he 
noted, and "quick, decisive, radical change is not possible. 
We can't push laws through like we could 10 or 20 years 
ago," but rather need to go through lengthy consultations 
with Parliament.  But the Government is persistent, patient, 
and committed to reform. 
 
Trade Minister Mari Pangestu 
---------------------------- 
 
¶10. (SBU) Minister of Trade Mari Pangestu told the USABC 
delegation on October 9 that she was hopeful that Indonesia 
would be removed from the IPR Special 301 Priority Watch 
List during the current Out of Cycle Review.  The newly 
formed ministerial-level National IPR Task Force is 
developing a national plan of action.  The greatest 
challenges will be sustaining enforcement and creating 
greater public awareness about the importance of IPR. 
Pangestu welcomed the USABC's decision to conduct a study of 
non-tariff barriers in Indonesia and noted that Indonesian 
businesses and exporters, particularly in the agricultural 
sector, need capacity building and support to better 
understand and meet U.S. import standards.  She added that 
Indonesia was currently Chair of the ASEAN Auto Sector 
Committee and that the GOI should prioritize the sector 
since it was one of the few vertically integrated sectors in 
Indonesia. 
 
¶11. (SBU) Pangestu noted that the GOI continues to have 
Economic Partnership Agreement talks with Japan in which the 
two countries are addressing many issues similar to those 
that arise in the GOI's trade discussions with the U.S. 
Although Pangestu said she did not expect Indonesia and the 
U.S. to pursue a free trade agreement anytime soon, regular 
Trade and Investment Framework Agreement (TIFA) talks are 
gradually addressing issues that could be roadblocks to a 
future FTA.  She noted Indonesia is actively pursuing a 
bilateral trade agreement with Australia and that both 
countries are currently working on a joint study of the 
costs and benefits of free trade. 
 
BKPM Chairman Mohammad Lutfi 
---------------------------- 
 
¶12. (SBU) During their October 10 meeting, Investment 
Coordinating Board (BKPM) Chairman Mohamed Lutfi informed 
the delegation that U.S. investments in Indonesia amounted 
to $7 billion between January 1990 and June 2006 and 
included 342 projects.  In the first half of 2006, however, 
U.S. investors started only 22 new projects worth $28 
million, compared to 27 projects worth $58 million for the 
same period in 2005.  Lutfi noted that U.S. investors have 
traditionally found the mining sector attractive, but that 
interest in that sector has diminished significantly due to 
regulatory and legal uncertainties. 
 
¶13. (SBU) Lutfi said he remains very optimistic about 
Indonesia's ability, for three reasons: 
 
--the Government's emphasis on infrastructure development, 
including plans to add 13,000 megawatts of power generation 
with investments of $6 billion; 
 
--the country's large population of 220 million, with some 
18 million members of a rapidly expanding middle class; and 
 
--remarkable natural resources. 
 
¶14. (SBU) Lutfi admitted that Indonesia needs to learn to 
rely less on exporting raw resources while making a gradual 
transition to a knowledge-based economy.  In the short term, 
though, it should take great advantage of its wealth of 
 
JAKARTA 00012555  004 OF 007 
 
 
natural resources and unusually high commodity prices. 
Lutfi claimed that Indonesia's weak economy is largely due 
to poor financial market regulation in the aftermath of the 
Asian Financial Crisis.  He specifically decried GOI 
decisions to leave the regulation of non-bank financial 
institutions to the Ministry of Finance.  Lutfi noted that 
Indonesia's loan-to-deposit ratio was only 53% in 2005, 
compared to 136% for Malaysia, 102% for Singapore, and 109% 
for Hong Kong.  He lamented that out of Indonesia's 18 
million strong middle class, only 300,000 invest in the 
country's stock markets.  With proper regulatory 
supervision, Lutfi felt Indonesian markets could triple 
their current capitalization. 
 
Energy Minister Purnomo Yusgiantoro 
----------------------------------- 
 
¶15. (SBU) Minister of Energy and Mineral Resources Purnomo 
said the Government hopes Parliament will finish new laws on 
energy, mining and mineral resources in the next two years. 
"We have 86.9 billion barrels equivalent of oil and gas 
resources we wish to convert to reserves," he noted.  Most 
of Indonesia's coal reserves are in Kalimantan where there 
is little infrastructure, but Chinese investment is helping 
build railways to transport coal.  The GOI also seeks to 
develop operational nuclear power plants for electricity 
production by 2015, and seeks cooperation on nuclear energy 
with France, Japan, South Korea and the U.S.  Purnomo noted 
that only 55% of Indonesia is electrified, leaving millions 
without power.  The GOI plans to take on the challenge of 
rural electrification with a small, $400 million budget, 
leaving larger, more attractive projects for public-private 
partnerships. 
 
¶16. (U) Purnomo said the GOI hopes to send a team to the 
U.S. to discuss energy issues with private industry as well 
as the U.S. Department of Energy, and the USABC offered to 
help set up meetings.  With regard to the electricity law, 
Purnomo noted that the GOI seeks to avoid the errors of 
places such as California, learning from others to create a 
suitable set of energy policies for all sectors.  On 
biofuels, the GOI would like to develop biodiesel and 
ethanol from palm oil, cassava, and sugar cane.  Indonesia 
already has 180 gas stations which can distribute biofuels, 
but not enough stock to meet the demand.  Purnomo said the 
GOI wants this program on the fast track to start in 2007. 
 
Coordinating Minister Widodo 
---------------------------- 
 
¶17. (SBU) Coordinating Minister for Political, Legal and 
Security Affairs Widodo told the delegation on October 12 
that political, legal and security stability have a direct 
influence on investment and economic development.  He noted 
that the process of democratization in Indonesia is "noisy," 
but that it is leading to a more responsible, transparent, 
and accountable government.  Widodo said the GOI continues 
to undertake judicial reforms and pursue its anti-corruption 
campaign in an effort to provide greater legal certainty and 
contract sanctity.  He also highlighted recent positive 
developments in Aceh and Papua, and the GOI's "undeterred" 
efforts to combat terrorism. 
 
State Minister for State-Owned Enterprises Sugiharto 
--------------------------------------------- ------- 
 
¶18. (U) In his October 9 session with the group, Sugiharto 
stressed the importance of consolidating and streamlining 
the current 139 State-Owned Enterprises (SOE) to 85 by 2009. 
The two factors driving this reform are the public demand 
for transparency, and the need to raise standards of 
efficiency and good corporate governance in the SOE sector. 
Sugiharto noted candidly that his task is more challenging 
because of the political sensitivities attached to most 
SOEs.  In addition, SOEs have a mandate to perform public 
service obligations (PSO) in various sectors, such as postal 
service, and to do so at a profit.  He acknowledged that 
from a purely business standpoint, decisions on reform and 
 
JAKARTA 00012555  005 OF 007 
 
 
privatization would be 'very simple', because the top 10% of 
SOEs produce 90% of overall profits, while the bottom 10% 
are responsible for 90% of all losses.  He commented that 
the Government's decision to repay Indonesia's IMF debt 
early demonstrates its commitment to enhancing the country's 
credit rating.  Sugiharto also noted that state electricity 
company PLN's recent $1 billion dollar bond sale played a 
key role in raising funds to boost infrastructure and power 
generation capacity. 
 
¶19. (U) Sugiharto also commented on financially beleaguered 
national airline Garuda Indonesia.  He said the GOI would 
"politically salvage" Garuda in 2006 with injections of up 
to Rp 500 billion (US $55 million).  As a market policy, the 
GOI "could privatize Garuda."  However, the preferred, 
politically acceptable alternative would be to find a 
strategic partner to purchase a minority equity share, 
coupled with a management agreement. 
 
National Planning Ministry (BAPPENAS) 
------------------------------------- 
 
¶20. (U) In a meeting with the State Ministry for National 
Development Planning (BAPPENAS), Ministry officials noted 
Indonesia's need to expand its infrastructure capacity, 
especially for transportation and telecommunications.  A top 
priority is to create a rail link from Jakarta's main 
commercial airport, Soekarno-Hatta, to the city.  The GOI 
prefers soft loans with interest rates of 3.5% or less from 
foreign investors to assist with these projects.  BAPPENAS 
also has a plan to increase Indonesia's information 
communication technology (ICT) capacity.  The plan includes 
policy and regulatory reform, building capacity in rural 
areas, and restructuring of the Ministry of Information 
itself. 
 
Ministry of Health 
------------------ 
 
¶21. (SBU) Director General for Pharmaceutical and Medical 
Equipment Dr. Richard Pandjaitan described on October 10 the 
international concern over the possibility of an avian 
influenza (AI) pandemic.  Dr. Santosos Soeroso, Director of 
Sulianti Saroso Infectious Hospital (an AI referral 
hospital) then reported on the GOI's national AI control 
strategies and on the formation of the National Committee on 
Avian Influenza Management and Pandemic Alert.  Soeroso 
noted that Indonesia's mortality rate from avian influenza 
is the highest in the world (75%) because most patients do 
not seek medical attention until they are in advanced stages 
of pneumonia and respiratory distress.  Soeroso reported 
that the GOI will expand avian influenza referral hospitals 
from 44 to 100. (Note: Despite Soeroso's claim, MOH has 
rejected requests from the Mission's NQal Medical Research 
Unit (NAMRU-2) to expand its AI surveillance referral 
hospital network.) 
 
Key Issues Raised 
---------Q------ 
 
¶22. (SBU) USABC delegation members raised a number of 
economic policy issues or doing-business problems in the 
group's meetings: 
 
--Auto Luxury Taxes: A Ford Motor Company representative 
noted that Indonesia has exceptional potential as an auto 
producer.  However, the country's luxury tax system remains 
a serious obstacle because it distorts the market.  Ford 
would like to see the elimination of luxury tax distinctions 
based on body type (sedan vs. non-sedan) and fuel (diesel 
vs. gas), with overall lower luxury tax rates.  The longer 
term vision would be to move to a system based on the 
purchase price of cars.  VP Kalla noted that the luxury tax 
system was set up for historical reasons to encourage public 
transportation and create an incentive for commercial 
vehicles, but now there is improved engine efficiency and 
less difference between the price of diesel and gas. 
Boediono said it is very important to develop Indonesia as 
 
JAKARTA 00012555  006 OF 007 
 
 
an auto export base, and said he would ask the Ministry of 
Finance to look into the issue.  He noted that Ford's 
presentation "seems to make sense," and that some of the 
distinctions in luxury tax rates have been in place for 
decades and are "no longer quite relevant." 
 
--Biotech Crops: A Monsanto representative encouraged a 
change in regulations to facilitate the use of biotech crops 
to improve farm productivity and overall growth, noting the 
success of these in India, China, Australia and Philippines. 
Kalla said he appreciated the help of companies such as 
Monsanto in increasing yields and reducing poverty. 
 
--Health Care as an Economic Driver:   A representative of 
Johnson and Johnson inquired about the potential for health 
care as a business driver in Indonesia, noting Singapore and 
Thailand's success with medical tourism.  VP Kalla said 
there are now more private than public hospitals in 
Indonesia, though the overall density is still low.  There 
is an insufficient number of doctors and those available are 
working too hard and too long.  This sector needs to grow, 
Kalla concluded. 
 
--Caps on Media/Entertainment Investment: A Time Warner 
representative noted that "good content drives growth" in 
the information technology sector, and that media and 
entertainment companies are interested in Indonesia, 
however, they are restricted by the 20% cap on foreign 
participation and are not allowed to establish fully owned 
distributors of video products.  An effective, arms-length 
broadcasting regulator is also important, the representative 
stated, the representative noted, and encouraged the GOI to 
establish a level playing field between international and 
domestic companies.  VP Kalla responded that this issue is 
complex, and requires a longer discussion.  Boediono said 
the issue is sensitive politically, and that the GOI wants 
to benchmark Indonesia's policies to international 
developments. 
 
--Sugar Import Tariffs: A Coca Cola representative said his 
company wants to see the Minister of Finance extend her 
decree reducing import duties on sugar since the domestic 
sugar industry does not need tariff protection.  VP Kalla 
said the objective is to create harmony between producer and 
consumer.  Boediono said the Ministries of Agriculture and 
Industry have staked out opposing positions on the issue 
that the GOI is trying to resolve. 
 
--Health Care Issues:  In response to a question about 
Indonesia's priority training needs in the health care 
sector, Dr. Hardiman from the Health Ministry noted that 
Indonesia only has one cardiac care center located in 
Jakarta and needs additional centers on Sumatra and 
Kalimantan.  Hardiman noted training in pediatric cardiology 
is also an urgent priority.  Another USABC delegate noted 
Indonesia has a large number of hospitals and local health 
clinics, and suggested that the GOI consider developing 
expertise in the manufacturing of medical devices and 
medical equipment. 
 
--Express Delivery Services:  A UPS representative 
encouraged Indonesia to "level the playing field" by 
permitting 100 percent foreign ownership and ending the 
postal service monopoly on express delivery services.  She 
also raised concerns about a new draft postal law currently 
circulating inside the GOI and the effects it might have on 
the flow of goods in and out of Indonesia.  In response, 
Pangestu said that the GOI is making improvements to the 
country's logistics a priority.  As part of this effort, the 
GOI is cooperating with Singapore in launching an ASEAN 
green-line program and establishing a customs single window 
pilot project in Batam.  Sugiharto said the postal service 
has a public service obligation, and must work within the 
constraints of that mandate.  At the same time, the postal 
service must become profitable while still servicing remote 
parts of Indonesia. 
 
--Locomotives Upgrade: A General Electric (GE) 
 
JAKARTA 00012555  007 OF 007 
 
 
representative noted that rail is a vital transport option 
in Indonesia, and stated his company's interest in replacing 
the aging locomotives of Java's train system with newer, 
more efficient models.  About 20-30% of the contact could be 
produced in Indonesia, creating jobs.  VP Kalla said he 
appreciates GE's production facilities in Java and said the 
Ministry of Transportation is also studying how to increase 
rail capacity in Sumatra and Kalimantan as well as in Java. 
Sugiharto agreed that the Indonesian fleet of locomotives 
needs immediate upgrade. 
 
--Automobile Fuel Standards: A Ford representative asked 
that Indonesia move more rapidly toward nationwide mandated 
sale of high quality diesel and unleaded fuels.  Such 
nationwide availability of cleaner high quality fuels would 
lead to cleaner air and address the concerns of consumers 
owning cars with emission controls.  The Ford representative 
also urged standardization of biodiesel and bioethanol so 
that vehicle suppliers could supply compatible engines.  A 
MEMR official noted that the GOI has already created a 
standard for biodiesel and is now preparing one for 
bioethanol. 
 
--IPP Project in Sumatra: A representative of Virginia-based 
AES discussed his company's proposal to develop a 1200 
megawatt coal-fired power facility in South Sumatra, in 
consortium with Japanese and Indonesian companies.  AES 
asked for the GOI's support in fast-tracking the project. 
The largest constraint is the lack of transmission lines to 
bring power from the generating site to West Java.  Boediono 
noted that Indonesia's need for power is huge, and that the 
country is already feeling the early signs of shortages. 
Moving forward with Independent Power Producer (IPP) 
projects remains the GOI's preferred means for generating 
more power, but the urgency of the situation requires PLN to 
fill the gap between 2007 and 2010 with its 10,000 megawatt 
"crash program."  The Government had a bad experience with 
IPPs in the past, and wants to replicate successful models. 
Sugiharto agreed the AES project must be completed within 
three years to meet growing power demands in Java, and that 
the government was committed to "quick action" to encourage 
IPPs. 
 
Delegation Members 
------------------ 
 
¶23. (U) Representatives from the following companies 
participated in the USABC mission: 
 
- Exxon Mobil 
- Freeport McMoRan Copper & Gold, Inc. 
- AES Transpower 
- Cargill, Inc. 
- Chevron 
- PT Coca-Cola Indonesia 
- Conoco-Phillips 
- Ford Motor Company 
- General Electric Company 
- JHPIEGO (An international health organization affiliated 
      with Johns Hopkins University) 
- Johnson and Johnson 
- Marathon Oil 
- McDermott 
- Microsoft Corporation 
- Monsanto Company 
- Oracle Corporation 
- PT HM Sampoerna Tbk 
- Star TV (News Corporation) 
- Time Warner, Inc. 
- United Parcel Service 
 
PASCOE