Bapepam approves Salomon<\/p>\n
JAKARTA (JP): PT Salomon Brothers Nusa Securities, a U.S.-
\nIndonesian joint venture, announced yesterday that it has been
\ngranted a license by the Capital Market Supervisory Agency
\n(Bapepam) to operate in Indonesia.<\/p>\n
The company, which was approved by the Indonesian Ministry of
\nJustice last November as a limited liability company, is a joint
\nventure between Salomon Brothers of the United States and PT
\nBakrie Securities of the Bakrie Group, which is registered on the
\nJakarta Stock Exchange (JSX).<\/p>\n
The company said in a statement that with the securities
\nlicense, it is now authorized to provide financial analysis and
\nguidance on international market practice to Indonesian
\ncompanies.<\/p>\n
"We are confident that the granting of this license will
\nenhance our ability to provide Indonesian issuers with first-rate
\nfinancial advisory services and access to global capital
\nmarkets," the company's president, Bharat Parashar, said.<\/p>\n
The statement said that Salomon Brothers has been active in
\nIndonesia since 1990.<\/p>\n
Salomon Brothers Nusa Securities will become the 24th joint
\nventure securities firm registered on the JSX. Another American
\ninvestment bank, Merrill Lynch, began its operation on the
\nexchange in January. (08)<\/p>",
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