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http://www.yahoo.com/r/hs--- Begin Message ---
JAKARTA (Thomson Financial) - The Singapore government's investment arm,
Temasek Holdings, has raised its stake in Indonesia's sixth largest
bank, PT Bank Internasional Indonesia (BII), to 37.5 percent, Kompas
reported Tuesday.
Temasek previously owned indirectly a 28 percent stake in BII through
the Sorak Financial Holdings consortium, in which it has a 50 percent
stake.
Other shareholders of Sorak are Kookmin Bank of South Korea with a 25
percent stake, Malaysia's ICB Financial Group Holdings with 20 percent
and Barclays with 5.0 percent.
Bank Indonesia director Yang Ahmad Rizal was quoted as saying that
Temasek has acquired the combined 25 percent stake owned by ICB and
Barclays in Sorak to increase its holdings in the consortium to 75
percent.
Rizal also said that such acquisition does not require the central
bank's approval.
Temasek, which also owns a 59.1 percent stake in PT Bank Danamon, the
country's fifth largest bank, has until the end of this month to decide
whether to merge Danamon and BII, or divest its stake in either bank.
The move is to comply with a regulation that forbids the holding of
controlling stakes in more than one bank by end-2010.
The report said the acquisition signals that Temasek may prefer to merge
Danamon and BII.
(1 US dollar = 9,272 rupiah)
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alo/nt ab/nt MMMM HQZ95-11Dec07 01:19 GMT
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