Lawsuit against Bank J Trust

On September 4, 2018, the Central Jakarta District Court registered a tort lawsuit filed by one  Gavin Goh Meng Meng, a Singaporean businessman, against several parties including Lembaga Penjamin Simpanan and PT Bank J Trust Indonesia Tbk (BCIC). At the heart of the dispute is the series of decisions made by the parties as a result of the situation implicating Bank Century.

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Banking Update

Largest private lender Bank Central Asia (BBCA) plans to raise as much as US$36.5 million via the sale of subordinated notes, which are aimed at fulfilling the requirement set on the regulation of systematic important banks for a financial systems recovery plan.

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Corporate Actions & Results

PT Evergreen Invesco Tbk (GREN) expects to raise Rp30 trillion from issuing 93.88 billion new shares, through preemptive rights scheme, representing 95.42% of its enlarged shares capital. GREN plans to use the cash raise to pay for its debts. Each shareholder with one old share, recorded at December 14, 2016, will be entitled to get 20 rights. Life insurer PT Asuransi Jiwa Bersama (AJB) Bumiputera acts as standby buyer. Current shareholders of GREN are Natural Crystal Holding Inc (53.26%), First Venture Limited (6.22%), and public investors (40.53%).

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