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WISMA KORINDO 10^th FLOOR

In line with the Indonesian Goverment's Pakto 88 regulatory encourage the banking and financing sector to spearhead and support the country's economic growth, the Group established PT Clemont Finance Indonesia Corporation (CFIC) in 1991 with a paid-up capital of US$8 Million. This represents the Group's entry into the country's financing sector with CFIC serving as the Financial Services Division of the Group.

CFIC is principally involved in the provision of leasing, factoring and consumer financing services. Leasing facilities are designed to provide tax efficient lease packages structured to meet the specific needs of the clients while the factoring facilities allow flexibility to clients in managing short term funding needs.

CFIC is set-up on clearly defines organisation structure and managed by very experienced personnel with extensive international and local expertise in financing business providing the foundation for CFIC to record a continuing steady growth and performance since its inception.

CFIC's clients cover a wide spectrum of the variuos business sectors and industries ranging from timber emphasis is placed on sectors encouraged by the government, such as transportation, reinforcing CFIC's contributing role to national developments. Having establish its position CFIC seeks support and partnership ventures from foreign financial institutions with the objective of providing more cost competitive facilities, new financial products and enhances quality services to its clients.

The Korindo Group forsees an even larger role for the Financial Services Division within the context of the robust Indonesian. Second Economic Development Plan. Strategically, the Division has expanded its range of activities into stockbroking services through the acquisition of PT Garudapara Invesindo during the first quarter of 1995.

This will be further upgraded to include underwriting and investment advisory services in partnership with foreign international securities house to tap the potential of the Capital Market in Indonesia. As a natural progression of business growth in the financial sector, the Division will look out for opportunities in venture-capital, insurance and banking services that will enable the Group to achieve its objective in providing integrated financial services.

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