Bangkok Bank (BBL) expects to make payment for its acquisition of Indonesia’s PT Bank Permata in the third quarter this year. The deal is seeking approval from both the Bank of Thailand and its Indonesian counterpart and the process is expected to be completed soon, said Chansak Fuangfu, executive director and senior executive vice-president. BBL....
JAKARTA – Tolaram Inc, a Singapore-based company, divested 53.682% of its shares in PT Bank Amar Indonesia Tbk (AMAR) due to the adjustment of the maximum limit of ownership in the company. The divestment was carried out during the period of 15-22 January 2020. As quoted from the company’s disclosure, Navin Nahata, Director of Tolaram Inc. said....
South Korean power producer is looking to finance a hydropower plant project in Central Java that would be the coal buyer’s first renewable energy deal with Indonesia. Korea Southern Power (KOSPO) is currently reviewing a feasibility study to develop the 230-megawatt (MW) Maung hydropower plant in Banjarnegara, Central Java, with Indonesian state-owned construction firm Nindya Karya and....
Singapore-based sharia investment company Al Falah Investment led by Ilham Akbar Habibie, the eldest son of the late former president B.J. Habibie, is set to acquire sharia-compliant Bank Muamalat Indonesia. Financial Services Authority (OJK) chairman Wimboh Santoso said on Tuesday that the authority had approved the deal, adding that the consortium led by Al Falah....
Singapore-based Jebsen & Jessen Packaging (JJP) has acquire a 60 percent stake in Indonesian beverage packaging manufacturer PT Indo Tirta Abadi (ITA), according to press statement. The companies signed a sale and purchase agreement on 31 January 2020, while the transaction will be closed in early March. Terms of the deal were not disclosed. Founded....
Having led MDI Ventures to clock five exits in a single year last year – a feat bettered by none in Indonesia’s VC game, Nicko Widjaja says he is “chasing his own ghost” as he looks to emulate a similar level of success at his new firm BRI Ventures, the VC arm of the country’s....
Processed food company Indofood CBP Sukses Makmur (ICBP) is planning to acquire instant noodle manufacturer Pinehill Company Limited, which supplies Indomie to the Middle East, Africa and Serbia. ICBP corporate secretary Gideon A. Putro said on Wednesday that the company responded to its British Virgin Island affiliates, Pinehill Corpora Limited and Steele Lake Limited, on....
AKARTA – PT Profesional Telekomunikasi Indonesia (Protelindo) and PT Centratama Menara Indonesia (CMI) won PT XL Axiata Tbk’s (EXCL) tower sales tender. The sold towers then will be leased back to EXCL. President Director & CEO of XL Axiata Dian Siswarini stated in a press release on Tuesday (11/2), said the sale and purchase agreement for....
British insurance company Aviva Holding Ltd. has announced its exit from Indonesia, selling all its shares in its joint venture in the country, PT Astra Aviva Life (Astra Life), to its partner, PT Astra International. Aviva released the statement on the company’s website on Friday. “The transaction is expected to be completed in quarter four....
Singapore’ Olam International has sell its remaining 50 percent stake of Far East Agri Pte. Ltd. for around US$85.0 million to its joint venture partner Thailand-based Mitr Phol Sugar Corporation. After the transaction, the global food and agriculture supplying company food book a capital gain about $40.0 million. Olam divest is part in the sugar joint venture is....