OJK Confirms Japanese Investors Danamon Stock Lyrics

By : Herry Barus And Aldo Bella Putra | Saturday, November 11 2017 - 17:00 IWST

PT Bank Danamon Tbk (Foto Ist)
PT Bank Danamon Tbk (Foto Ist)

INDUSTRY.co.id - Jakarta - Chief Executive Officer of Banking Financial Services Authority (OJK) Heru Kristiyana confirmed that Japanese investors, in this case Bank of Tokyo-Mitsubishi UFJ (BTMU), are eyeing the shares of PT Bank Danamon Tbk.

"Indeed, Bank of Tokyo-Mitsubishi UFJ is eyeing Danamon's shares, of course, will be followed by the activities or requirements that will be delivered because the company is open, it will be related to the steps in the capital market," Heru said in Jakarta on Friday 10/11/2017)

He said the most important aspect of the acquisition plan is that corporate action can strengthen Danamon.

"It is expected that Danamon will grow more rapidly with a bigger new 'shareholder'," Heru said.

In addition, OJK will also ask investors to convey concretely about the link between business plan and its contribution to national economic development.

This is for example regarding the provision of special credit to infrastructure in Indonesia to support government programs.

"Do not let them come to give credit to Japan only, we hope they create a business plan that can really sustain the national economic growth," said Heru.

Currently, Danamon's share of ownership, according to the company's official website, is 67.37 percent owned by Asia Financial Indonesia Pte Ltd (AFI), 6.5 percent owned by JPMCB-Franklin Templeton Investment Funds, and 25.7 percent owned by the public.

Referring to Japanese media reports, Nikkei, Thursday (9/11), Bank of Tokyo-Mitsubishi UFJ is reportedly planning to buy about 40 percent of Bank Danamon's shares to expand the company's business in Southeast Asia. The transaction value is mentioned about 1.76 billion US dollars or equivalent to Rp23, 7 trillion (with the current exchange rate).

Previously, PT Bank Danamon Tbk has also confirmed there are investors who have been exploring to buy shares owned by a Singapore-based company that controls the bank, Asia Financial Indonesia Pte Ltd (AFI).

Director of Bank Danamon Michellina Triwardhany through his official statement quoted by Antara said AFI has received "expression of interest" related to share ownership in Danamon.

However, Michellina affirms AFI and investors are just going to negotiate so there has not been a binding result or agreement.

"The interest of these investors depends on the outcome of further negotiations which may not necessarily result in a binding agreement so that the transaction is not necessarily realized," she said.

News Comment

Today's Industry

PT Inocycle Technology Group Tbk ("INOV")

Kamis, 14 September 2023 - 15:15 WIB

INOV Poised to Absorb PET Recycling Market Potential

The prospects of PT Inocycle Technology Group Tbk ("INOV") a public company in the field of recycling plastic (PET) bottle waste into Recycled Polyester Staple Fiber (Re-PSF), looks bright for…

Participants of the 43rd ASEAN Summit enjoy the gala dinner at Hutan Kota GBK in Jakarta, Wednesday (09/06). (Photo by: BPMI of Presidential Secretariat)

Senin, 11 September 2023 - 09:07 WIB

Indonesian Cuisine, Cultural Performances Enliven Gala Dinner of 43rd ASEAN Summit

President Joko “Jokowi” Widodo and First Lady Iriana Jokowi hosted a gala dinner for leaders of ASEAN member states, partners, and international organizations at Hutan Kota restaurant in…

President Jokowi and Secretary-General of the United Nations António Guterres, Jakarta, Thursday (09/07). (Photo by: BPMI).

Senin, 11 September 2023 - 07:45 WIB

ASEAN, UN to Enhance Cooperation in Maintaining Regional Peace

On the margin of the 43rd ASEAN Summit, President Joko “Jokowi” Widodo Thursday (09/07) hosted Secretary-General of the United Nations António Guterres in a bilateral meeting at the Kakatua…

President Jokowi shakes hands with PM of Japan Fumio Kishida at JCC in Jakarta, Thursday (09/07). (Photo by: BPMI of Presidential Secretariat)

Senin, 11 September 2023 - 06:40 WIB

Indonesia, Japan Agree to Raise Partnership Status to Comprehensive Strategic

Indonesia and Japan have agreed to raise the partnership status of the two countries to strategic comprehensive, President Joko “Jokowi” Widodo has said.

PT Sariguna Primatirta Tbk (Tanobel Group)

Selasa, 05 September 2023 - 09:45 WIB

Aggressive Tactics Boost Brand Awareness, CLEO Achieves Record- Breaking Sales in First Half 2023

The increasing public activity post pandemic has opened up opportunities for business growth in the consumer goods product for bottled drinking water (AMDK), which is better known as "CLEO",…