Meiwa Indonesia's listing

Meiwa Indonesia's listing

OSAKA (Nikkei): Meiwa Gravure Co., a maker of synthetic resin
products, has canceled plans to list the shares of an Indonesian
subsidiary on the foreign section of the Osaka Securities
Exchange, the Nihon Keizai Shimbun reported yesterday.

Meiwa Gravure's business group owns 80 percent of P.T. Meiwa
Indonesia, which had sales in 1997 of 160 billion rupiah or Y4.3
billion at the exchange rage of that time. Since then, however,
Indonesia's economic slump has eroded demand for autoparts, while
the value of the rupiah against the dollar has fallen 75%.

The OSE foreign section, which currently lists only Showpla
Asia Ltd., opened in October 1996 to list Japanese-owned and
other companies operating elsewhere in Asia. The OSE suspended
trading in Showpla Asia on Monday and Tuesday. Showa Plastics
Co., parent of the Singapore company, filed bankruptcy procedures
Friday.