Dharmala creates fund

Dharmala creates fund

JAKARTA (JP): PT Dharmala Securities Jakarta, a subsidiary of
the Indonesian property giant Dharmala Group, has set up a US$50
million property investment fund.

The fund will be listed in Luxembourg.

Dharmala Group's president, Suyanto Gondokusumo said "the fund
will make a broad range of property and property related
investments in South East Asia".

Suyanto is also the fund's director.

The fund was founded by the Dharmala and PSP groups, London-
based Jupiter Tyndall, Malaysia Officers Cooperative Credit and
Investment Society and Johore Corporation.

Suyanto said European and North American investors had
provided half the fund's capital and Asian investors the other
half. (jsk)