Merrill Lynch granted license

Merrill Lynch granted license

JAKARTA (JP): The Indonesian Capital Market Supervisory Agency
(Bapepam) has granted PT Merrill Lynch Indonesia a license to
underwrite and trade Indonesian securities, and act as an
investment manager, the company announced here yesterday.

"It is the first majority-owned U.S. securities firm getting
such a license from Bapepam," the company said in a statement.

The company will offer a wide range of Merrill Lynch's
institutional services to the Indonesian market.

In 1994, Merrill Lynch provided advisory services for PT
Indosat's initial public offering. Last year, it acted as a
global coordinator for PT Telkom's initial public offering.

PT Merrill Lynch Indonesia is a joint venture company formed
by Merrill Lynch International Holdings Inc. (owning 80 percent)
and PT Persada Kian Pastilestari (20 percent), a subsidiary of
the Hashim Group owned by Hashim Djojohadikusumo.

Merrill Lynch International claims to be the world's leading
underwriter of debt and equity issues and the world's leading
provider of cross-border financing and advisory services, as well
as top-ranked securities and economic research.

Employing 44,000 people in 31 countries, Merrill Lynch's total
assets and stockholders' equity exceed US$185 billion and US$6
billion respectively. Its total assets held in client accounts
worldwide are approaching US$700 billion.

"Our decision to invest in Indonesia represents a strategic
business decision based on a long-term view of the tremendous
opportunities in the country. Indonesia is one of the key
emerging markets in the world," president and chief executive of
Merrill Lynch International, David H. Komansky said at the
official opening of the joint venture company yesterday evening.
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