Danamon responds

We thank you for your continued support by reporting on Bank Danamon's activities.

The article titled Danamon selects bonds issue underwriters in your Jan. 27 edition (page 13), stated: "A senior officer at the bank Kun Kim Lan said the proceeds would be used to expand lending, which was expected to grow by 20 percent this year ...."

We highly respect the quality of The Jakarta Post's reporting and thought it necessary to clarify that Lam Kun Kin was not interviewed by anyone from the Post and did not make the statement. And as far as we can see, this statement also did not appear in a press statement dated Dec. 13, 2004, "Bank Danamon Explores Longer Term Financing", that was sent to the Post.

We were informed by Daniel Iskandar, director of PT Danareksa Sekuritas, that he also did not talk to any journalists about Danamon or about any bond issue. He has apparently sent his own formal clarification.

At this point, Bank Danamon has not appointed a lead underwriter and is still finalizing terms and conditions with a number of short-listed candidates.

TYA ADHITAMA, Division Head, Corporate Communications and Affairs, Bank Danamon, Jakarta

Note: We took the quote from Dow Jones but failed to identify Dow Jones as the source.

-- Editor