Equity research report on BCA

Equity research report on BCA

I refer to my article Report on Bank Central Asia: Setting
the record straight (The Jakarta Post, May 31, 2000), I would
like to make some corrections on the mistakes found in the first
paragraph.

The paragraph reads: There are several misconceptions related
to the analysis contained in the equity research report on the
Bank Central Asia prepared by its lead underwriter PT Danareksa,
as reflected in the article by Melville S. Brown (the Post May
29, and May 30, BCA's initial public offering: Let the buyer
beware). This paragraph should read: "In response to the article
published in The Jakarta Post dated May 29, 2000 and May 30, 2000
(BCA's initial public offering: Let the buyer beware, by Melville
S. Brown), we would like to straighten out the writer's
misconception on several issues related to the analysis contained
in the equity research report on Bank Central Asia prepared by PT
Danareksa".

The paragraph as printed in the Post has prompted many
inquiries directed to me from foreign and domestic investors, as
there is no relevance between this paragraph and the paragraphs
that follow.

In fact, we have clearly presented it by adding the preceding
two words "the writer" to the word "misconception" to read "the
writer's misconception", which is really a misconception on the
part of Melville S. Brown.

IRMA STAMBOEL

Head of Equity Research

PT Danareksa Securitas

Note:We apologize for the error and the inconvenience caused.

--Editor