ING to assist Jasa Marga

JAKARTA (JP): ING Baring Securities Indonesia is interested in becoming a financial advisor for state-owned toll road operator PT Jasa Marga, which plans to offer shares to the public this year.

ING Baring's president, John. E. Marshall, said that his company had been officially invited by Jasa Marga to join in a "beauty contest" to become the latter's financial advisor.

Marshall was quoted by Antara over the weekend as saying that his company is also interested in assisting other state firms which plan to float shares on stock exchanges.

Meanwhile, vice chairman of ING Baring Holdings Ltd. William Ryrie suggested that state firms offer discounted shares to domestic investors in order to build a stronger domestic-based capital market.

Although Indonesia's capital market has grown significantly, the role of domestic investors lags behind foreign investors. (rid)