Paribas to boost investment in Indonesia<\/p>\n
PARIS (JP): One of France's major financial groups, Groupe
\nParibas, will expand its banking and equity investment in
\nIndonesia's rapidly developing financial sector.<\/p>\n
The chairman of Paribas's management board, Andre Levy-Lang,
\nsaid here Thursday that Indonesia was a potential site for
\nParibas' Asian headquarters.<\/p>\n
Paribas also was looking at expanding its retail, agro-food,
\ncommunications, constructions materials and pharmaceutical
\noperations in Indonesia, he said.<\/p>\n
Paribas has been present in Indonesia for 22 years through a
\nrepresentative office and Paribas-BBD Indonesia, a joint venture
\nbank with state-owned Bank Bumi Daya.<\/p>\n
He said Indonesia, along with Hong Kong, China, Taiwan and the
\nPhilippines would be one of Paribas' focuses in Asia.<\/p>\n
Levy-Lang said his company led the first French export credit
\ndeal with Indonesia in May 1975.<\/p>\n
Last year Paribas was chosen as financial advisor for the
\nprivatization of state-owned tin company PT Tambang Timah.<\/p>\n
\"This year we are bidding for work in with (the state-owned)
\nPT Aneka Tambang and PT Bukit Asam privatization,\" he said after
\nthe signing of a loan facility to Indonesian telecommunications
\noperator PT Satelindo.<\/p>\n
Last year Paribas bought 8 percent of plastics maker PT
\nDynaplast, he said.<\/p>\n
Levy-Lang said Paribas also indirectly controlled Irian Jaya
\noil explorer PT Coparex, Jakarta building firm PT SAE, and
\nSurabaya food mill operator PT Wirifa Sakti.<\/p>\n
Under the agreement with Satelindo, Paribas will extend a
\nUS$135 million loan which Satelindo will use to expand its mobile
\ncellular phone project based on a contract with French
\ntelecommunications equipment maker Alcatel.<\/p>\n
The loan is the biggest export credit ever signed by France
\nwith a private Indonesian firm.<\/p>\n
Levy-Lang said the loan was supported by the French
\nauthorities and COFACE.<\/p>\n
\"Asia is a region considered by Paribas as a priority
\ndevelopment zone. Paribas's emphasis will include banking
\nactivities and shareholdings,\" he said.<\/p>\n
He said Paribas had branches and representatives in Tokyo,
\nHong Kong, Singapore, Vietnam, India, Malaysia, Thailand,
\nIndonesia and China.<\/p>\n
Paribas has four major units. They are international wholesale
\nbank Banque Paribas which was set up in 1872, finance firm
\nCompagnie Bancaire, retail bank Credit du Nord and Paribas
\nAffaires Industrielles which manages several industrial and
\ncommercial equity holdings. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/paribas-to-boost-investment-in-indonesia-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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