Ramayana best managed

JAKARTA (JP): PT Ramayana Lestari Sentosa, one of Indonesia's largest retail chains, has been voted the best managed publicly- listed company in Indonesia for this year by the Hong Kong-based Asiamoney business magazine.

The rating was based on a four-month survey covering 700 fund managers conducted by the business magazine for drawing its annual list of the top 100 best-managed companies in the Asia- Pacific region.

The list, carried by the magazine's December, 1998-January, 1999 issue, ranks Ramayana the 9th best-managed company in the Asia-Pacific region.

The ranking was assessed in terms of reliable forecasting, financial accounts, treatment of minority shareholders, investor relations and access to management.

The five top ranks of the list were occupied by Taiwan Semiconductor Manufacturing Corp., Hongkong Shanghai Banking Corp., SM Prime of the Philippines, Telecom New Zealand and Infosys of India.

The list also includes eight other Indonesian publicly-listed companies-- Gudang Garam, Indosat, Telkom, Gulf Indonesia, Daya Guna Samudra, Indorama, Lippo Securities and Aneka Tambang-- on much lower ranks. (29)