So, South Korea’s Kookmin Bank is set to become substantial shareholder of Bank Bukopin (BBKP), the 14th largest bank by total assets in Indonesia. This is a major comeback for Kookmin, which once a strategic partner of Temasek Holdings in Bank Internasional Indonesia (BNII)——now Maybank Indonesia.
Read MoreState-owned gas distributor Perusahaan Gas Negara (PGAS) has officially acquired 51% stake in PT Pertamina Gas (Pertagas) at a value of US$1 billion. PGAS and Pertamina, holding of Pertagas, signed the conditional sales purchase agreement (CSPA) on Friday (June 29) on this acquisition. According to the source close to the deal, the next step is to complete the transaction within 90 days.
Read MoreThe Government, through the Ministry of State-owned Enterprises (SoE), mulls to sell shares of Bank Bukopin (BBKP) as currently it holds 11.43%. Some new investors are reportedly to acquire Bank Bukopin in past years but that has not materialized.
Read MoreThe Ministry of State-owned Enterprises (SoE) mulls the idea of selling its shares in Bank Bukopin (BBKP) as it currently holds 11.43%. Some new investors were reportedly keen to acquire Bank Bukopin in past years but nothing has materialized.
Read MoreUnlike other banks controlled by conglomerates, Bank NationalNobu (NOBU), member of Lippo Group, reported 4.6% decline in total assets to Rp10.5 trillion by March 31, 2018. With equity of Rp1.4 trillion, the bank is still long way to join Buku III (banks with minimum equity of Rp5 trillion). Pressures in the property and retail businesses might delay capital injection from shareholders to grow further the bank.
Read MoreRetailer Mitra Adiperkasa (MAPI) had obtained a shareholder’s approval on Monday for 10-for-1 stock split, which will boost liquidity of the MAPI’s stock on the Indonesia Stock Exchange (IDX). The stock split approval will value MAPI’s shares at Rp800 a piece from Rp8,000.
Read MoreOther than watching new investors entering the struggled Bank Bukopin (BBKP), we’ve seen acquisition in plantation and properties in the past few weeks. Some are in the pipeline, including in oil and gas, coal, and technology.
Read MoreState-owned lender Bank Negara Indonesia (BBNI) was rumored to act as a standby buyer of a right issue of medium-sized lender affiliated with tycoon Aksa Mahmud’s conglomerate Bosowa Group, Bank Bukopin (BBKP)’s shares. BBNI is now still reviewing and exploring the financial statement of (Bukopin).
Read MoreWaskita Karya Group (Waskita Karya/WSKT and Waskita Beton Precast/WSBP), Fajar Surya Wisesa, and Bank Tabungan Pensiunan Nasional (BTPN) reported strong performance in the first quarter ended March 31, 2018. Bank Danamon (BDMN), on the other hand, posted 1% decline in net profit to Rp1 trillion, while Bukopin (BBKP) claimed improvements here and there.
Read MoreBisnis Indonesia newspaper quoted Sadikin Aksa, CEO of Bosowa Corporindo—-a company owned by the family of Aksa Mahmud (brother in law of Vice President Jusuf Kalla), saying Bosowa as controlling shareholder of Bank Bukopin (BBKP) yet to make decision related to the proposed issuance of new shares worth around Rp2 trillion.
Read MoreBank Bukopin (BBKP) booked net profit of Rp134 billion last year, down 22.53% from 2016, mainly due to huge losses in the fourth quarter. While the bank managed to grow assets by 2.58% to Rp106.46 trillion, the bank suffered from 128.32% jump in non-performing loans (NPL), which reached 6.37% by December 31, 2017.
Read MoreBank NationalNobu (NOBU), controlled by Lippo Group, reported 22.5% growth in total assets to Rp11 trillion last year. Bank Sinarmas (BSIM), meanwhile, recorded total assets of Rp30.4 trillion by Dec 31, 2017, down from Rp31.2 trillion in Dec 2016. Lippo and Sinarmas were among significant players in the banking industry prior to Asian financial crisis in 1997 through LippoBank and Bank International Indonesia, which are both now in the hands of Malaysian investors.
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