PRESS DIGEST-Indonesian Newspapers - May 19

Following are some leading stories in the main Indonesian newspapers on May 19.

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JAKARTA GLOBE

- JUSUF KALLA SEES 8 PCT ECONOMIC GROWTH IF ELECTED AS PRESIDENT

Vice President Jusuf Kalla, who is standing for president, told a forum organised by the Indonesian Chamber of Commerce that if elected he could lift economic growth to a rate of 8 percent in three years.

- MEDCO EYES BP'S STAKE IN WEST JAVA BLOCK

Indonesian energy firm PT Medco Energi Internasional (MEDC.JK) is conducting an evaluation on BP's (BP.L) stake in the offshore Northwest Java gas and oil block, valued at $600 million, said Lukman Mahfoed, Medco's corporate project director.

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INVESTOR DAILY - HOLCIM PAYS OFF $50 MILLION DEBT

PT Holcim Indonesia Tbk (SMCB.JK), the Indonesian unit of Swiss cement maker Holcim (HOLN.VX), said it has paid off $50 million of debt to its parent company and plans to cut further its dollar-denominated debt, which currently stands at $250-280 million.

- SARATOGA PLANS TO BUY STAKES IN ELNUSA

Indonesian investment fund Saratoga Capital said it plans to buy a 37.15 percent stake in energy explorer PT Elnusa Tbk (ELSA.JK) from unlisted contracting firm PT Tridaya Esta and has prepared around $100-150 million for the deal.

- BCA PAYS 2.4 TRILLION RUPIAH DIVIDEND

Shareholders in Indonesia's third-largest lender, PT Bank Central Asia Tbk (BBCA.JK), have approved a dividend payout of 2.4 trillion rupiah ($231 million), or 42.18 percent of its 2008 net profit, lower than the 49.4 percent payout ratio last year.

- TRANSPORTATION MINISTRY TO RANK AIRLINES IN JULY