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)