JAKARTA: State-owned investment company PT Danareksa decided late on Monday to sell its controlling stake in mid-size Bank Bumiputera to Malaysian-based ICB Financial Holdings Ltd., after declaring the company the highest bidder.

In a press statement, ICB said that it would buy 58.41 percent of Danareksa's stake in Bumiputera at a price of more than Rp 150 per share.

The ICB, which is controlled by former Malaysian finance minister Tun Daim Zainuddin, managed to beat of bids from two other potential investors: the Bank Panin consortium and local insurance firm AJB Bumiputera.

Danareksa's shares in Bumiputera are managed by its three subsidiaries: PT Cipta Usaha Citra Dana, PT Reksasentosa Dinamika and PT Reksatama Dinamika. -- JP

;AP; ANPAf..r.. Corporate-Brief-Airlines HK airlines to raise ticket price JP/14/Brief HK airlines to raise ticket prices

HONG KONG: Hong Kong carriers Cathay Pacific Airways and Dragonair want to raise ticket prices to cover surging fuel prices, executives and local media reported on Tuesday.

Dragonair spokeswoman Bonita Chan said her company has asked Hong Kong's Civil Aviation Department to approve a 65 Hong Kong dollar (US$8.33) fuel per passenger surcharge for each one-way flight.

The South China Morning Post reported on Tuesday that Cathay Pacific has also applied for a surcharge without giving details.

Civil Aviation Department spokeswoman Sandra Lai said seven airlines that fly to Hong Kong had applied for surcharges. Jet fuel prices have risen more than 30 percent since the beginning of 2004 to their highest levels in more than a decade. Oil prices jumped to nearly $42 per barrel on Monday.--AP

;AP ANPAf..r.. Brief-Singapore-Airline SIA to charge extra on tickets JP/14/Brief SIA to charge extra on tickets

SINGAPORE: Singapore Airlines said on Tuesday it will charge passengers an extra fuel surcharge on flights out of New Zealand, Australia and Britain in response to rising fuel costs.

The amount of the Singapore Airlines surcharge has yet to be determined but will be announced "within the next few days," said How Hwee Yin, an airline spokeswoman.

How said the airline introduced the surcharge in New Zealand, Australia and Britain in response to competitor's moves on those routes. The airline is reviewing whether to implement charges on other routes, How said.

Last week Australian flag carrier Qantas announced a surcharge of US$10.50 per international flight and British Airways added $4 to the price of each flight purchased outside of Britain. -- AP

;AFP; ANPAf..r.. Corporate-Brief-Airbus Airbus confident Japan will buy A380 JP/14/brief Airbus confident Japan will buy A380

TOKYO: The head of European aircraft manufacturer Airbus said on Tuesday he was confident Japanese airlines would decide to order the company's superjumbo A380 jet once airports here can cope with it.

Airbus Industrie president and chief executive Noel Forgeard told a gathering of local businessmen that most Japanese international airports would be capable of handling the 555- seater aircraft by 2008 when seven A380 flights operated by overseas carriers would be arriving daily.

"As early as the year 2008, the A380 will operate seven daily flights into Japan under the launch customer colours... so the Japanese passengers will be able to benefit from the A380," Forgeard said. -- AFP

AFP ANPAf..r.. Corporate-Brief-AFTA Honda seeks fair play in Malaysia JP/14/brief Honda seeks fair play in Malaysia

KUALA LUMPUR: Japan's Honda on Tuesday urged Malaysia to ensure a level playing field for non-national automakers under the Association of Southeast Asian Nations Free Trade Area (AFTA).

Honda Malaysia president and chief operating officer Syed Hisham Syed Wazir noted Malaysia's national carmaker Proton had enjoyed preferential treatment for about two decades and said similar privileges should be given to non-national companies under AFTA.

"With the implementation of AFTA, the level playing field should be accorded to all players in the industry who have in many ways contributed to employment, income and economy," he was quoted as saying by Bernama news agency. -- AFP