Bahana, Danareksa to merge

JAKARTA (JP): The government will merge state-owned investment companies PT Bahana Pembinaan Usaha and PT Danareksa into an independent entity to boost efficiency, a source said yesterday.

Witjaksono Abadiman, the president of PT Bahana Securities, one of BPU's subsidiaries, said the companies, which both operate in securities underwriting, brokerages and fund management services, were currently working on the plan.

"We are currently in a preliminary stage of studying the merger plan," he said without elaborating.

The planned merger is part of the government's program to restructure the country's state-owned companies, he added. (aly)