Bank DKI to issue Rp 700m in bonds

JAKARTA: Bank DKI plans to issue five-year bonds worth Rp 700 billion (US$83 million) with an indicative coupon rate of between 12.375 percent and 12.75 percent.

In a press statement on Wednesday, the bank said the proceeds from the bonds would be used to finance lending expansion this year, with Rp 2.6 trillion of new loans being forecast, up from Rp 1.7 trillion last year.

Bank DKI, which has assets of Rp 5.62 trillion, recorded a net profit of Rp 84.10 billion last year, up from Rp 80.19 billion in 2002. The bank's revenue increased slightly by Rp 2.28 billion to Rp 698 billion. -- JP

;AFP; ANPAf..r.. Singapore-air-Valuair Singapore budget carrier Valuair takes off with Bangkok flight JP/14/Brief Valuair takes off with Bangkok flight

SINGAPORE: Asia's latest budget airline, Singapore's Valuair, began operations on Wednesday with a maiden flight from the city- state to Bangkok, becoming the second no-frills carrier to ply the popular route.

A Valuair A320 Airbus jet departed Changi airport on Wednesday afternoon with 162 passengers on board, with return tickets priced at S$138 (US$81) on a promotional rate that lasts until May 21.

Valuair is scheduled to begin flights to Hong Kong on Friday, with return tickets costing S$300, and to Jakarta on May 10 for the same price as the Bangkok route. -- AFP