April 30, 1999
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| April 30, 1999 | atimes.com | |
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| Southeast Asia Nikko to buy Indonesian liquidated bank assets JAKARTA - Nikko Securities Co. Ltd. of Japan is reportedly to acquire the assets of liquidated banks in the form of fund management companies to expand its business in Indonesia. Bisnis Indonesia quoted Nikko Securities president and CEO Masashi Kaneko as saying the economic crisis would not make Nikko abandon its business in the country. ''We even plan expansion as we intend to become the main player in the country,'' Masashi said. He said many investment companies have been left idle following the liquidation of a number of banks in the country. ''We intend to take over some of the companies and make them productive,'' he said. He refused to specifiy the amount of funds set aside by Nikko to acquire the assets. He said Nikko is interested in expanding asset management and brokerage businesses in the country. He added that Nikko would help to encourage Japanese investors to come to Indonesia when the market has improved. He predicted that in two or three years business would expand in Asia, contributing to Indonesia's economic recovery. He said agro-based business is the most interesting at present. (Asia Pulse/Antara) | |||||||||
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