Danareksa denies merger plan

Danareksa denies merger plan

JAKARTA (JP): State-owned investment bank PT Danareksa said
yesterday that reports of an impending merger with another state-
owned investment bank, PT Bahana Pembinaan Usaha Indonesia, were
unture.

"The Office of the State Minister of the Empowerment of State
Enterprises has not proposed merging Danareksa and Bahana,"
Danareksa's corporate secretary, Ticke S. Soekrani, told the
media yesterday.

He was commenting on earlier reports that the two investment
firms would be merged into an independent entity to boost
efficiency.

Witjaksono Abadiman, president of PT Bahana Securities, a unit
of Bahana, said last week that the merger was being
prepared. (rei)