Indonesian business tycoon Tahir is keen to gain control of PT Bank Permata, a larger rival to his PT Bank Mayapada International, as he seeks to put his lender in the ranks of the nation’s biggest banks. Tahir’s Mayapada Group wants to buy the 90 percent of Permata that is owned by Standard Chartered Plc and PT Astra International and merge it with Bank Mayapada to create Indonesia’s largest non-government bank by assets after PT Bank Central Asia, he said.
Category: Indonesia
Tycoon Eyes StanChart’s Indonesian Bank Stake in March to Top
Indonesian business tycoon Tahir is keen to gain control of PT Bank Permata, a larger rival to his PT Bank Mayapada International, as he seeks to put his lender in the ranks of the nation’s biggest banks. Tahir’s Mayapada Group wants to buy the 90 percent of Permata that is owned by Standard Chartered Plc and PT Astra International and merge it with Bank Mayapada to create Indonesia’s largest non-government bank by assets after PT Bank Central Asia, he said.
Coal Recovery Too Good to Resist for World’s Biggest Shipper
Indonesia will exceed its coal production target for another year as miners cash in after prices recovered from a five-year collapse. The world’s biggest exporter will produce about 489 million metric tons this year, 18 percent above the government-mandated target, according to energy ministry forecasts.
Indonesia’s First Billion-Dollar Startup Races to Kill Cash
Go-Jek became Indonesia’s first billion-dollar startup by offering ride-hailing services that became ubiquitous in the country. Now the company is planning a second act in digital payments amid rising competition from local rival Grab and Uber Technologies Inc. Go-Jek, backed by Sequoia Capital, KKR & Co.
Dealmaker Thohir Swoops In on Insurance After Inter Milan Sale
Indonesian businessman Erick Thohir, whose investments have ranged from newspapers to sports teams in the U.S. and Europe, is now betting on life insurance. A group led by Thohir plans to invest 2 trillion rupiah to gain full ownership of Asuransi Jiwa Bumiputera, a new unit of century-old mutual insurer AJB Bumiputera 1912, the insurance firm’s statutory manager said Wednesday.
Singapore’s Year of Misbehaving Moneymen Puts MAS on High Alert
From the 1Malaysia Development Bhd.-linked scandal to a 333-count front-running case and the largest market-manipulation prosecution in Singapore’s history, this year’s allegations of moneymen behaving badly have put the city-state’s image as a squeaky-clean financial hub to the test. Regulators have responded with their busiest year of enforcement actions, shutting the local units of two Swiss banks, fining some of the world’s biggest lenders and seizing S$240 million of assets.
Asian stocks lower in light trading after Christmas
KEEPING SCORE: The Shanghai Composite Index fell 1.1 percent to 3,075.11 and Tokyo’s Nikkei 225 lost 0.1 percent to 19,410.43. Seoul’s Kospi gained 0.1 percent to 2,037.