BHP sees no E. Timor impacts

BHP sees no E. Timor impacts

MELBOURNE (Dow Jones): Broken Hill Proprietary Co (BHP) chairman, Jerry Ellis, said Tuesday that potential political change in East Timor will not impact the company's business.

"I don't believe the changes in the political situation there would impact the shareholder value of BHP," he said in response to a shareholder's question.

Ellis was speaking at the company's annual meeting in Perth. The meeting is also being broadcast to Melbourne, Sydney, Brisbane and Adelaide.

Indonesia's new president, B.J. Habibie, has made moves to grant East Timor more autonomy. This raises the prospect that a more independent East Timor could have a say in BHP's oil and gas developments in the Timor Sea.

BHP has interests spanning energy, steel and mining.