JAKARTA: Indonesia's retailer PT Matahari Putra Prima plans to

JAKARTA: Indonesia's retailer PT Matahari Putra Prima plans to open at least six new department stores and six new supermarkets next year to boost its sales, Matahari's spokeswoman, Renata Lyfan, said on Friday.

"We plan to open at least 12 new outlets next year," she said, adding that the number may increase if the company sees more business opportunities.

The company plans to invest at least Rp 250 billion (US$29 million) to open the new outlets in 2004.

Matahari, which enjoys a 20 percent share in the domestic retail industry excluding traditional markets, has so far opened eight supermarkets and six department stores this year.

Renata said the company will open another new department store in Jakarta early next month, bringing the total number of new outlets this year to 15.

Matahari embarked on an aggressive expansion this year after it finished a management restructuring last year.

The organizational restructuring started in 1997 when the Lippo Group bought majority ownership in the company. Since 2000, the restructuring had virtually halted expansion, with the firm opening only one or two outlets per year. -- Dow Jones

;DJ; ANPAf..r.. Brief-ChevronTexaco ChevronTexaco to build plant in Java JP/14/brief ChevronTexaco to build plant in Java

JAKARTA: Amoseas Indonesia Inc. said on Friday that it will build a third geothermal electricity generating plant in West Java, scheduled to start operations early in 2006.

The Indonesian unit of the U.S.'s ChevronTexaco Corp. said the new 100-megawatt plant, called Darajat Unit III, will be located adjacent to the existing Darajat Unit II situated near Garut.

Amoseas acts as an operator of the electricity plants under a contract with state-owned oil and gas company Pertamina (PTM.YY). Electricity from the new unit will be sold to state-owned electricity utility PT Perusahaan Listrik Negara, which already buys power from the two existing units.

The Darajat plants tap geothermal energy from a young volcano in West Java. The volcano is part of the "Ring of Fire," the world's most active volcanic zone, which in part stretches along the southern coast of Sumatra and Java. -- Dow Jones

;Bloomberg; ANPAf..r.. Brief-Pertamina Pertamina appoints chief of oil-trading unit JP/14/brief Pertamina appoints chief of oil-trading unit

PT Pertamina, Indonesia's state oil company, appointed Ari Soemarno as the new president of its oil trading unit, said Harry Poernomo, vice-president for downstream affairs at Pertamina.

Soemarno, whose appointment took effect yesterday, replaced Sungkono Wahju, said Harry in Jakarta on Thursday.

"It's just a normal reshuffle, part of a five-year cycle," Poernomo said. "The old management has worked for five years."

Soemarno is the older brother of Rini Soewandi, Indonesia's trade and industry minister. Soemarno previously worked in Pertamina's downstream oil department.

Other directors of the trading unit, Pertamina Energy Trading Ltd., were also replaced, Poernomo said, without giving details. The trading unit also has an office in Singapore. -- Bloomberg

;AFP; ANPAf..r.. Brief-helicopters Eurocopter to build helicopters in China JP/14/brief Eurocopter to build helicopters in China

SHANGHAI: China's Hafei Aviation Industry on Friday inked a deal to build helicopters in the northeast of the country with France's Eurocopter and Singapore Technologies Aerospace.

Hafei, a listed subsidiary of military contractor China Aviation Industry Corp II, will produce EC120 helicopters, a product it already supplies parts for, the company said in a statement.

Eurocopter, a wholly-owned subsidiary of European aerospace consortium EADS, which also makes Airbus planes, is taking a 61 percent stake in the venture, according to a report in the official China Daily.

Hafei will own a 24 percent share and Singapore Technologies Aerospace the remaining 15 percent of the new assembly line based in the northeastern city of Harbin set to make 20 helicopters a year, under the trade name HC120.

China is expected to need about 1,800 helicopters, worth some 4.9 billion, by 2013, reports said. -- AFP

;AFP; ANPAf..r.. Brief-LG LG in tug-of-war over bailout terms JP/14/brief LG in tug-of-war over bailout terms

SEOUL: Creditors and LG Group are engaged in a tug-of-war over terms for bailing out LG Card hours before huge debts owed by the country's largest credit card company mature, banking sources said Friday.

Woori Bank and seven other creditors of LG Group have demanded tycoon Koo Bon-Moo of LG Group put his personal assets up as collateral in return for a two trillion won (US$1.7 billion) emergency loan to LG Card.

Koo has not yet submitted a pledge in writing after the group said Koo will provide his 5.46 percent stake in the group's holding company, LG Corp., as collateral for such loan.

"Creditors will meet to make a final decision on the bailout only after they secure the pledge in writing," a spokesman of Woori Bank said.

Yonhap news agency said the eight lenders had decided the amounts each would contribute to the bailout package.

The National Agricultural Cooperative Federation will provide the largest chunk of 514 billion won, followed by Kookmin Bank with 437 billion won, according to Yonhap. Korea Development Bank will shoulder 287.8 billion won, Woori 246.3 billion won, Industrial Bank of Korea 168.6 billion won. Hana Bank will also provide 129.7 billion won, Shinhan Bank 113.7 billion won and Chohung Bank 103 billion won.

LG Card shares were sharply higher in morning trade, ending six days of straight falls, on the reports of an impending bailout. -- AFP