Jababeka-Bahana deal

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)