“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Sunday, March 09, 2008

Maybank keen to buy indirect stake in Indonesian bank

The Star Online

PETALING JAYA: Malayan Banking Bhd (Maybank) yesterday announced it was keen to buy an indirect stake in PT Bank Internasional Indonesia Tbk (BII).

Despite two earlier failed attempts to have a presence in Indonesia, Maybank is now seeking to acquire a stake in Indonesia’s sixth-largest bank, from the latter’s major shareholder, Fullerton Financial Holdings Pte Ltd. Fullerton is a unit of Singapore’s Temasek Holdings.

In a one-paragraph statement, Maybank said “it has indicated to Fullerton, the majority shareholder of BII, of its interest in acquiring its shareholding” in BII.

Maybank said it would make any further announcement at an appropriate time.

BII had on Feb 25 announced that Fullerton had informed of its decision to dispose of its interest in BII in line with Indonesia’s single presence policy.

Fullerton had expected to complete the sale before the regulatory deadline of end-December 2010.

Temasek is looking to sell its BII stake because the Indonesian central bank does not allow foreign investors from owning more than one bank. According to Reuters, Temasek also controls Indonesia’s PT Bank Danamon Tbk.

Fullerton holds 75% stake in BII’s controlling shareholder, Sorak Financial. Sorak, in turn owns 55.78% stake in BII. Reuters said Sorak’s BII stake could be worth about US$1.07bil at the current share price and Temasek’s 75% stake could be worth US$800mil.

BII has over 230 branches and 700 ATMs across Indonesia as well as a banking presence in Mauritius, Mumbai and the Cayman Islands.

In 2004, the Maybank-led consortium (comprising Maybank, Khazanah Nasional Bhd and PT Jaminan Sosial Tenaga Kerja) had failed to acquire a 51% stake in PT Bank Permata Tbk.

Last year, Maybank had signed a memorandum of understanding with Panin Life Tbk to commence discussion to acquire a 60% stake in PT Anugrah Life Insurance, a subsidiary of Panin Life. However, the Indonesian government told Maybank that it was unable to consider the acquisition.

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