Jeewon Jaya donates scholarship funds

Jeewon Jaya donates scholarship funds

JAKARTA (JP): PT Jeewon Jaya Indonesia, an export-oriented
producer of car stereos, satellite receivers and other electronic
components, in Bekasi, West Java, has donated Rp 120 million
(US$55,045) to Indonesia's educational development.

The Indonesia-South Korean joint venture made the donation
in the form of scholarship funds to coincide with the listing of
6.1 million shares or 50 percent of its common stocks on the
Jakarta stock exchange yesterday.

Of the total funds, Rp 100 million were given to the
University of Indonesia and Rp 20 million to a state-run
technical high school located near the Jeewon industrial complex.

Jeewon Jaya's President Inhyun Chung said at a cocktail
party held at the Shangri-La Hotel yesterday that his company's
sales turnover was estimated to increase to Rp 55.8 billion this
year from Rp 31.3 billion last year.

"My company is the first Indonesian-Korean Joint venture to
go public. But I am sure more Korean companies will float their
shares on the Jakarta Stock Exchange in the near future," Chung
added. (vin)