PT Clipan has new chief

PT Clipan has new chief

JAKARTA (JP): PT Clipan Finance Indonesia's shareholders
agreed yesterday at their extraordinary general meeting to the
appointment of Pierre Prevot as the new president replacing
Philippe Bonin.

Prevot was formerly the general manager of Credit Lyonnais in
Shanghai and was the first president of Clipan when it was
established in Jakarta in 1982 as a joint venture between Credit
Lyonnais and Panin Bank.

"Clipan's net profit is estimated to reach Rp 6 billion
(US$2.7 million) this year, up from Rp 4.8 billion last year,"
Prevot told reporters after the meeting.

Prevot said that his company recorded a total production for
leasing and consumer finance of Rp 210.5 billion in the first
ninth months this year or a 16 percent increase compared to the
same period last year.

Clipan, which was listed at Jakarta Stock Exchange in 1990, is
60 percent owned by Credit Lyonnais of France, 20 percent by
publicly-listed Panin Bank and the remaining 20 percent by the
investing public. (04)