Tag: Standard Chartered Bank

Revisiting Samin Tan’s Borneo Lumbung

The problematic coking coal producer PT Borneo Lumbung Energi & Metal Tbk (BORN), controlled by Samin Tan, has finally released its audited financial report for the period ended Dec 31, 2015, two years behind the timeline required by market authorities. The Company ended 2015 with negative equity of US$909.2 million due to accumulated losses of US$1.75 billion.

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Digital Disruption & Banking Operations (2)

National banks have rationalized their operations as customers increasingly use digital financial services. Bank Maybank Indonesia (BNII), for example, has significantly reduced number of sub-branches and micro-functional offices last year. Bank Permata (BNLI), a JV between Standard Chartered Bank and Astra Group, also cut significantly its physical banking operations.

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