Bank Mutiara Preps for Shareholders Meeting

Translator

Editor

Kamis, 9 Oktober 2014 16:34 WIB

J Trust Terpilih karena Sanggup Bayar Tunai

TEMPO.CO, Jakarta - PT Bank Mutiara Tbk, formerly named Bank Century, is planning to hold a general meeting of shareholders soon, to decide whether they will have Japanese investment company J Trust Co. Ltd. (TYO: 8508) as the majority shareholder.


Samsu Adi Nugroho, corporate secretary of Indonesian Deposit Insurance Corporation, or Lembaga Penjamin Simpanan (LPS)—the state institution that runs the bank since it was bailed by the government in 2008, said the AGM will be held in the third week of October.


Samsu said that following the AGM Bank Mutiara will submit J Trust's bidding documents to the Financial Services Authority (OJK), after which the Japanese company will undergo a fit and proper test. The test is estimated to last for a maximum of 20 days.


On September 12, J Trust announced that it had been appointed by LPS as the winning bidder on the divestment of Bank Mutiara. J Trust wants an ownership of a 99.99 percent, for a reported offer of Rp4 trillion to Rp5 trillion. The Japanese firm's bid beat those of five other potential investors, including PT Bank Rakyat Indonesia Tbk and PT Artha Graha Tbk.


GANGSAR PARIKESIT

Related News

Samad: Sri Mulyani's Testimony may Unravel Bank Century Graft  

24 Oktober 2018

Samad: Sri Mulyani's Testimony may Unravel Bank Century Graft  

KPK Chief says Sri Mulyani provided information that had never been given before

that may unveil the mystery shrouding the Bank Century bailout.

Read More

Bank Mutiara Sold for Rp4.41tn

21 November 2014

Bank Mutiara Sold for Rp4.41tn

Mutiara's new commissioner from J Trust says the Japanese
company will will focus on completing the ownership transfer.

Read More

LPS Seeks to Finalize Mutiara Handover Next Week

13 November 2014

LPS Seeks to Finalize Mutiara Handover Next Week

Once the payment is made, LPS will hold a GMS and place the
money in permanent account, spokesman says.

Read More

JFSA to Help OJK Review J Trust

24 Oktober 2014

JFSA to Help OJK Review J Trust

OJK chief says the agency is working with Japan's financial
regulator, the Financial Services Authority (JFSA) in checking
up J Trust's data.

Read More

J Trust Offers Rp5tn for Bank Mutiara

19 September 2014

J Trust Offers Rp5tn for Bank Mutiara

At 3.5 times the value of the bank's net equity, the sale price
is still lower than the Rp8 trillion LPS paid to bail Bank
Century in 2008 and 2013.

Read More

Japanese Investor Joins Bid for Bank Mutiara Acquisition

15 September 2014

Japanese Investor Joins Bid for Bank Mutiara Acquisition

The Deposit Insurance Agency (LPS) names a Japanese investment
company as a potential bidwinner to acquire the former bank
Century.

Read More

Budi Mulya Verdict Could Hinder Century Assets Return

14 Juli 2014

Budi Mulya Verdict Could Hinder Century Assets Return

Century Assets Return Team is worried that Budi Mulya's case may
become a hurdle in the process of returning Bank Century's
assets to the state.

Read More

Budi Mulya Subjected to 17 Years Imprisonment in Century Case

17 Juni 2014

Budi Mulya Subjected to 17 Years Imprisonment in Century Case

Budi Mulya has been subjected to 17-year prison sentence for
abusing his authority by channeling short-term financial
assistance.

Read More

BRI Ready to Develop Bank Mutiara

12 Juni 2014

BRI Ready to Develop Bank Mutiara

BRI has prepared Rp3 trillion for inorganic growth, including funds for the
acquisition, corporate secretary says.

Read More

Ministry Approves Mutiara Acquisition by BRI

21 Mei 2014

Ministry Approves Mutiara Acquisition by BRI

Ministry official says as long as the acquisition process is
prudent, BRI will be spared from the political issues that are
attached to Bank Mutiara.

Read More