Tunas Ridean buys Opel dealer

Tunas Ridean buys Opel dealer

JAKARTA (JP): PT Tunas Ridean Tbk said on Tuesday that its
subsidiary PT Tunas Mobilindo had acquired 45 percent of PT Surya
Mobil Megahtama, one of Opel's authorized dealerships, last
November.

"Opel has good prospects and has its own market segment that
likes European cars with competitive prices," Surjanto Kardiman
the operations director at Tunas Ridean said in a statement to
the media.

After the acquisition, Tunas Ridean plans to open more Opel
outlets in the country, Surjanto said.

Tunas Ridean is publicly listed on the Jakarta Stock Exchange
and owns Toyota, BMW, Peugeot, Daihatsu and Honda motorcycle
dealerships.

Company sales for new and used cars increased to 5,155 in 1999
from 4,492 in 1998. It projected this year's sales to rise by
88.1 percent, with sales reaching 8,448.

The company was confident Surya Mobil Megahtama would
contribute a profit to Tunas Ridean this year, due to increased
promotion by Opel Indonesia and recovery in the national car
market, the statement said.

He said demands for imported cars were high, with a waiting
list for delivery of between two and three months. (03)