U Finance Targets Growth to Double
Kompas, page 22, 2006-02-13
Financing company PT U Finance Indonesia (UFI) targets new financing in 2006 to double from Rp.1.165 trillion (2005) to Rp.2 trillion. For that reason, U Finance plans to expand its network by adding 2 new branches in Palembang and Medan. The company focuses its expansion on four-wheeled automotive financing. Despite the fact that the financing industry in Indonesia is currently unstable, U Finance is optimistic that it would be able to fulfil its target as per January 2006, the company has obtained Rp.140 billion in financing.

BRI Re-evaluates UFJ Finance Purchase
Bisnis Indonesia, page B8, 2006-01-05
PT Bank Rakyat Indonesia Tbk is re-evaluating its 55 percent share purchase plan of PT UFJ Finance, a joint funding venture established with Bank UFJ Japan. There are two option to the plan: carry it through or cancel it due to deteriorating condition of the financing market. Currebtly, BRI holds 45 percent of UFJ Finance’s shares, while Bank UFJ holds the rest of the shares. BRI has prepared Rp.940 billion if the plan was to be carried through.