Maybank To Assist Bank International Indonesia (BII) With Capital Injection

Thursday, July 02, 2009

Malayan Banking Berhad Maybank
Maybank or Malayan Banking Berhad, which is the largest bank and financial group in Malaysia, intend to increase its capital participation in the PT Bank Internasional Indonesia Tbk (BII). Maybank even had prepared the agenda of BII's capital addition, and just wait to be implemented.

Maybank targeting, in five years, capital of BII will increase to twice than the current capital. "We want to increase the value of assets, two, even three times higher. This is why we provide additional capital," said Abdul Wahid Omar, Maybank Chief Executive Officer, as quoted by Bloomberg, on Tuesday (30 / 6).

Abdul Wahid asserts, Maybank will provide funding from internal to increase capital of BII. "We will also seek funding to make the capital value of BII increased in five years," said Abdul Wahid.

As a note, until the end of December 2008 the value of BII paid capital of Rp 3.266 trillion. Per end of May 2009 Maybank ownership in BII reached 97.52 percent. Maybank dominated BII through the Maybank Offshore Corporation which holds 43.19 percent shares and through the Sorak Financial Holding (59.33 percent). About 2 percent of BII shares is in public hands.

Last year, Maybank has allocated funds more than 2 billion U.S. dollars to buy bank shares in Indonesia, Pakistan, and Vietnam. The acquisition is a nonorganic growth strategic of Maybank to become players in the regional level.

Maybank completed the acquisition of 15% in An Binh Bank (Vietnam), 20% of MCB Bank Ltd (Pakistan) and 97.5% of Bank Internasional Indonesia (BII). In addition, Maybank won for the second year Malaysia's Most Valuable Brand (worth RM9.3 billion)[2], and Deal of the Year - Insolvency & Restructuring Deal of the Year at the 2008 ALB SE Asia Law Awards.

MayBank is also very seriously, offering loans for their customers. "With more economical interest of course," Abdul Wahid said.
Pin It


All content, design and layouts are © Copyright Equal Life 2013. All rights reserved. | Design by Equalist | Published by Equal Life | Powered by
Reproduction in whole or in part or in any form or medium without written permission is prohibited! | Disclaimer