Danareksa gets award

JAKARTA (JP): State-owned Danareksa Sekuritas has been named the country's investment bank of 1997 by Asiamoney magazine.

The Hong Kong-based magazine said in a statement yesterday that it selected Danareksa as the investment bank of the year because it performed strongly in terms of brokerage volume.

"Indonesia's capital market may have suffered a serious setback but Danareksa, Indonesia's Investment bank of the year, continued to perform strongly, achieving a 53.6 percent increase in brokerage volume during the year," the magazine said.

Danareksa president Agus Projosasmito said he would receive the award in Hong Kong next week. (rid)