PRESS DIGEST-Indonesian Business News - May 22

Following are the leading business stories in the main Indonesian newspapers on May 22.

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JAKARTA POST

- BIG OIL FIRMS SHORT ON OUTPUT TARGETS

Most oil contractors in Indonesia failed to reach their daily production targets in the first four months of 2008, Indonesia's directorate-general of oil and gas said on Wednesday.

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BISNIS INDONESIA

- BANK MEGA MULLS $200 MLN BOND ISSUE

Indonesian lender PT Bank Mega Tbk (MEGA.JK) is considering raising $200 million from the sale of dollar-denominated bonds to fund expansion and for working capital.

- PARLIAMENTARIANS URGE IPO, NOT STRATEGIC SALE OF STEELMAKER

Several members of parliament urged the government to cancel the sale of a strategic stake in steelmaker PT Krakatau Steel and opt for an initial public offering instead.

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