Jababeka-Bahana deal

JAKARTA (JP): Publicly listed industrial estate developer PT Kawasan Industri Jababeka has appointed PT Bahana Pembinaan Usaha Indonesia as financial advisor to help to cope with the current monetary crisis, the company said yesterday.

"I believe the crisis will end. Jababeka is taking active measures to maintain its financial performance and continue making advances," company president Ismail Sofyan said in a statement.

Jababeka, which was founded in 1989, holds a license to develop 2,870 hectares of industrial estate and 1,400 hectares of housing in Cikarang, West Java.

Jababeka's total assets were valued at Rp 2.7 trillion (US$300 million), including Rp 1.2 trillion in equity, in September last year. (jsk)