Regent enters Bank NISP

Regent enters Bank NISP

JAKARTA (JP): Hong Kong-based investment firm Regent Pacific
Private Equity has bought Rp 122 billion (US$14.02 million) in
zero-coupon mandatory exchangeable notes from major shareholders
of publicly listed Bank NISP.

The bank announced on Wednesday the notes, issued by its two
founding shareholders PT Suryasono Sentosa and PT Udayawira Utama
in July last year, would entitle Regent Pacific to significant
share ownership.

"Almost all the proceeds from the notes were used to improve
the bank's capital through a rights issue late last year," the
bank said.

Bank NISP said its unaudited net profit reached Rp 24.32
billion in 1998, compared to Rp 24.18 billion the previous year.

Regent Pacific Private Equity, listed in Hong Kong and
Frankfurt, is a subsidiary of the Regent Pacific Group, with its
core business in investment in global emerging markets. (aly)