Tag: Tuan Sing

Nursalim’s Expansion in Hainan

Court has on Monday (Sep 24) sentenced Syafruddin Arsyad Temenggung, former chairman of Indonesia Bank Restructuring Agency (IBRA), 13 years prison for his decision related to liabilities of tycoon Sjamsul Nursalim more than a decade ago. The same day, Tuan Sing Holdings Ltd, a company controlled by Nursalim family, announced a major expansion in Hainan Island, China with gross development value of RMB5 billion (US$730 million).

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Robust Investment Outlook (5)

Other than MUFG’s acquisition of Bank Danamon, Indonesian banking sector will see incoming investment of more than US$600 million in Bank Muamalat, the pioneer of sharia banking in Indonesia, this year. Some Chinese investors are also seeking acquisition opportunities in the banking sector alongside the growth of trade and investments.

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