Zaid Ibrahim & Co has sought to take advantage of the increasingly close political and business ties between Malaysia and Indonesia by launching an associate office in Jakarta in collaboration with Indonesian firm Roosdiono & Partners.

Widely known as ZICO, the Malaysian firm celebrated the opening of the Jakarta base at a reception held on 9 March at the The Batur Rinjani, Mercantile Athlete Club, World Trade Centre in Jakarta.

Dignitaries present at the reception included Aburizal Bakrie, coordinating minister for economic affairs of Indonesia and Mohamed S Hidayat, chairman of KADIN - the Jakarta Chamber of Commerce and Industry.

There was also a presentation on 'Financing of Infrastructure Projects via Capital Market and Islamic Products: The Malaysian Experience' by Charon Mokhzani, deputy chief executive, Commerce International Merchant Bankers Berhad and president commissioner of PT CIMB-Niaga, a subsidiary of CIMB.

The launch of an associate office in Jakarta follows ZICO's January 2003 opening of an office in Singapore. It also answers the Government of Malaysia's call for Malaysian service providers to export their services.

The firm said it was committed to transferring its know-how to Roosdiono, particularly in areas such as Islamic financing, privatisation, infrastructure projects development and financing and regulatory reform.

"We believe these areas are especially relevant to the current Government of Indonesia's focus on increasing private sector participation to drive the economy," said a firm statement.

Datuk Zaid Ibrahim, founder and chairman of ZICO, added: "The Indonesian Government has announced plans for numerous infrastructure projects and law reforms. I foresee great economic prospects in the Republic for the next decade and sharing our insights and experience with our Indonesian counterparts is in itself our contribution in enhancing Asean bilateral ties and developing Asean as an economic hub."

Anangga Roosdiono, managing partner of Roosdiono & Partners, has experience in advising state-owned companies, international corporations and major Indonesian companies on strategic aspects of their businesses in Indonesia and elsewhere - especially on regulatory policies on foreign investments relating to, mining, oil and gas and in the capital market and financial sectors. He has been appointed by the Indonesian Bank Restructuring Agency to advise on the restructuring of certain local private banks.