This is a bit old, but I found it interesting. Anyone knows the
details behind the move?
------------------------------------------------------------------------

Singapore govt raises stake in Indonesia's Budi Acid to 19.21 pct

JAKARTA, September 5 (XFN-ASIA) - The Government of Singapore
Investment Corp (GSIC) has raised its stake in PT Budi Acid Jaya to
19.21 pct from 9.47 pct after buying an additional 120 mln shares on
Aug 30, Standard Chartered Bank said in a statement to the stock exchange.

Standard Chartered did not disclose who the sellers were.

Before the transaction, GSIC was the fourth largest shareholder of
Budi Acid, while PT Budi Sulfat Jaya was the biggest shareholder with
a 19.73 pct stake.

Budi Acid is an integrated manufacturer of casava-based citric acid,
modified tapioca starch and monosodium glutamat (MSG).

http://www.kabar-irian.com/pipermail/kabar-indonesia/2006-September/004073.html





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