Astra, Telkom and Indosat win award

Astra, Telkom and Indosat win award

The Jakarta Post, Jakarta

Asia's top financial magazine, FinanceAsia, has declared
Indonesia's largest automotive and telecommunications firms are
the best companies in the country.

Based on a poll conducted among 200 fund managers and equity
analysts in the region in February and March, the magazine
awarded Astra International, Indosat and Telkom as Indonesia's
best companies for this year.

The announcement of the nation's best firms, among Asia's best
companies, was published in the magazine's April edition.

FinanceAsia named Astra International as the Best Managed
Company based on respondents' comments, which said the company
had a clear vision and focused on delivering a solid return to
its shareholders.

"Another deciding factor for investors was the fact that Astra
also repaid over US$110 million in restructured debt ahead of its
2006 maturity," the publication wrote.

Astra president director Michael D. Ruslim received the award
on Tuesday. Astra was second in the category last year, after
Unilever Indonesia.

Astra is the leading car dealer in the rapidly growing auto
market in the country, dominating the market with 47 percent of
the 295,743 car sales in the first semester.

Indosat, the country's second largest telecommunications firm,
was named as an entity with the Best Corporate Governance and
Best Investor Relations.

The publication said that the company's rapid response time
for investor-related queries was a clear justification for both
awards.

Indosat president director Hasnul Suhaimi said the company's
conformity to Indonesian laws and stock exchange regulations as
well as its transparency in all decision making were reasons why
the magazine chose it.

The company is listed on the New York, Jakarta and Surabaya
stock exchanges.

"As for being the best in investor relations, any time
investors want to come, we will welcome them. Any of the
directors can provide them with the required information," he
told The Jakarta Post.

The company, with its majority stocks owned by Singapore
Technologies Telemedia (STT), recorded a growth of more than 30
percent in the number of its cellular subscribers, from 9.7
million as of last year to 12.8 million as of June.

Telkom, the country's biggest telecom company, which
controlled 90 percent of last year's revenue on the cellular
market, was named as the corporation with the Best Commitment to
Dividend Payments.

Asia's Best Companies 2005 poll also chose Bank NISP as Best
Small Cap Company; John Slack of Astra International as Best
Corporate Financial Officer (CFO) and Jonathan Zax of Bank
Mandiri as Best Investor Relations Representative.

Editorial director of FinanceAsia Nick Lord said the chosen
companies were good models for other Indonesian corporations,
showing their utmost commitment to excellent corporate governance
and investor relations.

"The Indonesian companies that won the awards are truly world
class companies that deliver strong results to their
shareholders," he said in a press release made available to The
Jakarta Post.

The magazine was established in 1996 and has representative
offices in Singapore, Australia and the Philippines.(006)