BLT - Media News: Berlian May Sell 500 Billion Rupiah of Bonds

On the reports below, we are still at the planning stage so the preparation for such bond issuance has to get approval from regulatory authority.

The purpose of such issuance is for taking advantage of the Cabotage Law implemented in Indonesia. From Pertamina itself, there will be roughly be about 56 foreign flagged vessels which contracts will expire soon.

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Daily Reports2009-04-02 01:01:53.933 GMT

By Berni Moestafa April 2 (Bloomberg) -- PT Berlian Laju Tanker plans to sell 500 billion rupiah ($43 million) of bonds in the middle of this year, Investor Daily Indonesia reported, citing Erry Firmansyah, president director of the Indonesia Stock Exchange.

PT Andalan Artha Advisindo Sekuritas and PT Danatama Makmur have been appointed as the underwriters, the newspaper said. The report didn't give a reason for the bond sale. Berlian's bond sale plan has been submitted to the exchange, the newspaper said, citing Vicky Ganda Saputra, Danatama Makmur vice president for investment banking. The report didn't cite a Berlian official to confirm the sale. Berlian is Indonesia's biggest shipping company.

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--Editor: Sean Collins