Malacca Trust Wuwungan Insurance, subsidiary of financing firm Batavia Prosperindo Finance (BPFI), plans to launch the initial public offering (IPO) this year, targeting to raise Rp31-37 billion proceeds. It will offer 310 million shares to public at price of Rp100-120 per share. Per March 2017, Malacca Trust’s risk based capital (RBC) reached 282%, higher than minimum 120% set by the regulation. In 2016, the Company booked gross premium income of Rp202.08 billion.
