'SCTV' to issue Rp 350 billion bond

'SCTV' to issue Rp 350 billion bond

JAKARTA : Indonesian television company PT Surya Citra Televisi
(SCTV), said on Tuesday it plans to issue a Rp 350 billion five-
year bond on June 11.

SCTV said it will offer the bonds between June 18 and June 20,
and will list the bonds on the Surabaya Stock Exchange on June
30.

It hasn't yet determined the interest rate for the bonds.

SCTV said it plans to use 50% of the proceeds from the bonds
to refinance its debt to PT Bank Danamon Indonesia and the rest
to strengthen its working capital.

PT Batavia Prosperindo Sekuritas is the underwriter.

SCTV, which is owned by listed PT Surya Citra Media, is
Indonesia's third most popular television station, attracting
about a quarter of the nation's total viewers. SCTV channels
include its well-watched locally produced news programs. --Dow

Jones
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CorporateBrief-BASF-net-profit
BASF net profit falls by 20%
JP/

BASF net profit falls by 20%

LUDWIGSHAFEN, Germany : German chemicals giant BASF said on
Tuesday bottom-line earnings fell in the first three months as a
result of higher taxes, but underlying profits were up.

BASF said in a statement its net profit fell to 442 million
euros (US$486 million) in the period from January to March from
556 million euros a year earlier.

Earnings per share fell 17.9 percent at 0.78 euros.

"This was due to the fact that the previous year's financial
result contained extraordinary tax-free income from the sale of
securities," BASF explained.

"In addition, income taxes for oil production increased as a
result of the higher price of oil."

Underlying earnings, however, showed an improvement and BASF
said that, overall, business had got off to a good start in 2003.

Operating profit before exceptional items rose by 15.4 percent
to 944 million euros and sales were up 7.2 percent at 8.832
billion euros. --AFP

MONEY MATTERS

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Moneymatter-KL-ASEAN-meeting
KL to host ASEAN energy meeting
JP/

KL to host ASEAN energy meeting

SINGAPORE : Malaysia will be hosting the 21st Asean Ministers
Energy Meeting (AMEM), July 3 on the resort island of Langkawi,
Malaysia's national news agency Bernama said in a press release
on Tuesday.

AMEM holds an annual forum to promote cooperation in the
energy sectors between the Association of Southeast Asian
Nations' 10 member countries. The last meeting was held in Bali,
Indonesia, July 5, 2002, Bernama said.

The ministerial meeting will be preceded by the Senior
Officials Energy Meeting, or SOME, and consultation between
senior officials and Japan's Ministry of Economy, Trade and
Industry, or METI, as well as a grouping of three countries -
China, South Korea and Japan. --Dow Jones


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Moneymatter-Taiwan-donate-rice
Taiwan to donate rice to RI
JP/

Taiwan to donate rice to RI

TAIPEI : Taiwan said on Tuesday that it will donate 50,000
tons of rice to poverty-stricken people in Indonesia.

"We will send the rice to Indonesia in five shipments. The
first shipment - 10,000 tons - will be sent in early May," a
Department of Health official, Wang Chang-ying, said.

The 50,000 tons of rice will be distributed to poor people on
the islands of Java, Sumatra, Kalimantan and Sulawesi.

"We hope our donation can help ease Indonesia's food shortage
and strengthen the friendship between out two countries," Wang
said.

Taiwan said it will donate 100,000 tons of surplus rice to
foreign countries each year. Early this month, Taiwan donated
50,000 tons of rice to Iraqi refugees in Jordan. --DPA