The largest liquidation sale in a decade for a collapsed retailer continues until August 29 The most popular items on sale are the 9,000 vinyl records among the 100,000 articles that includes CDs, DVDs and toys at discounts ranging from 50 to 90 per cent Hundreds of people showed up much before the start....
Private equity firm Everstone Capital may withdraw from its involvement in PT Sari Burger Indonesia (SBI), the country’s master franchise owner Burger King. A DealStreetAsia report revealed the firm has been speaking with banks and advisers over the course of this year about the potential move. Everstone is currently in a partnership with Indonesian retail....
Jakarta. PT Bank Mandiri Tbk (BMRI) will release its remaining MAGI (Mandiri AXA General Insurance) shares, because the return on investment (ROI) is not in accordance with company policy. Bank Mandiri initially had a 60% stake in AXA, and had already sold 40% of it, so now it has 20% stake. AXA is a joint....
Jakarta. So far , PT. Krakatau Steel (KRAS) has completed 78% of the restructuring process and the process is expected to be completed by the end of this year. This was stated by the President Director of KRAS, Silmy Hakim, as quoted from Kontan, on Monday (4/11). Total debt that needs to be restructured reaches....
Bank Central Asia, or BCA, Indonesia’s largest lender by market capitalization, completed the acquisition of small-sized lender Bank Royal Indonesia last week after securing approval from the Financial Services Authority (Otoritas Jaksa Keuangan). The move marked continuing consolidation in Indonesia’s banking industry, which today still has 111 lenders of various sizes, down only slightly from....
JAKARTA. PT Bank Pan Indonesia Tbk (PNBN) or Panin Bank now officially has two controlling shareholders following the ANZ Group’s acquisition of a 38.83% stake in the bank, with the rest owned by founder Mukmin Ali Gunawan. Bank Panin Vice President Director Roosniati Salihin confirmed the acquisition. “Now there are two controlling shareholders [in Bank Panin]: the....
Jakarta. PT Bank Negara Indonesia (Persero) Tbk (BBNI) is limiting lending to the mining sector, due to the increase of non-performing loan (NPL) in that sector. As of September, BBNI noted that non-performing loan (NPL) in the mining sector increased to 7.8%. “Until the end of the year we will continue to disburse credit to....
SoftBank Corp. announced today that it has reached an agreement to merge with Z Holdings (The SoftBank subsidiary formerly known as Yahoo Japan) and Line Corp., in a move they hope will better position them againts competitors. The merger, which was first reported by Nikkei last week, is expected to be completed in October 2020. SoftBank....
PT Sinar Mas Multiartha Tbk (SMMA) purchased 53,125,657 shares owned by PT Asuransi Simas Jiwa in PT Bima Multi Finance (BMF) for Rp. 111.75 billion. After the transaction, SMMA now has a 23.10% stake in BMF. As quoted from the company disclosure, Doddy Susanto, President Director of PT Sinar Mas Multiartha Tbk (SMMA) said the....
Singapore-based online marketplace Carousell is merging with Telenor Group’s Online classified website 701Search. The merger, according to an official statement, will bring Carousell’s valuation to over US$ 850 million, with Telenor becoming the single largest minority shareholder in the marketplace with a 32% stake. According to Carousell co-founder and CEO Quek Siu Riu, the corporate....