Submission of a preliminary non-binding bid in relation to the sale of majority interest in PT Bank Permata Tbk ("Bank Permata") by PT Perusahaan Pengelola Aset (Persero) ("PPA") ("Proposed Acquisition of Bank Permata")

Sep 01, 2004 Back
Type Announcement
Subject Malayan Banking Berhad ("Maybank" or "the Company")
Submission of a preliminary non-binding bid in relation to the sale of majority interest in PT Bank Permata Tbk ("Bank Permata") by PT Perusahaan Pengelola Aset (Persero) ("PPA") ("Proposed Acquisition of Bank Permata")

Contents :

On behalf of Maybank, Aseambankers Malaysia Berhad announces that the Company, together with Khazanah Nasional Berhad and PT Jaminan Sosial Tenaga Kerja (Persero) (collectively referred to as the “Consortium”) had on 30 August 2004 submitted a preliminary non-binding bid to PPA in relation to the Proposed Acquisition of Bank Permata, which involves the acquisition of a 51% equity interest in Bank Permata which the Republic of Indonesia is divesting through PPA.

Bank Permata was formed in September 2002 through a merger of 5 Indonesian banks which were previously under the management of the Indonesian Bank Restructuring Agency. Bank Permata is currently the 7th largest commercial banking group in Indonesia with total assets of approximately IDR29 trillion (or approximately USD3.2 billion) as at 31 December 2003. Bank Permata is listed on the Jakarta Stock Exchange and is primarily involved in lending to the Consumer and Small-to-Medium Industry sectors with more than 300 branches located nationwide.

Maybank’s participation in the Proposed Acquisition of Bank Permata represents an opportunity for Maybank to expand its banking activities in Indonesia.

Maybank is currently waiting for formal notification from PPA in relation to its decision on the short listing of candidates, who will then be invited to submit formal bids for the acquisition at a later date. In view of the nature of the process for the Proposed Acquisition of Bank Permata, further announcements on this proposal will be made in due course.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 1 Sept 2004  
Category General Announcement
Reference No CU-040901-64372