J Trust Ready to Put Rp1.3tn in Bank Mutiara
31 December 2014 07:48 WIB
TEMPO.CO, Jakarta - Japanese investment company, J Trust Co. Ltd. is allocating capital to its subsidiary Bank Mutiara—formerly known as bank Century. Gradually, J trust will inject Rp1.3 trillion to Bank Mutiara until 2018, through several stages of private placements.
Bank Mutiara president director Ahmad Fajar said the move is aimed at strengthening the company's capital structure to develop its businesses.
"We will focus on developing our business in the micro, small, and medium enterprises sector and consumer financing," Fajar said in Jakarta yesterday.
Bank Mutiara's shareholders meeting yesterday approved a capital injection of Rp300 billion by J Trust to Bank Mutiara through private placement (non-HMETD). According to Fajar, J Trust will place another Rp300 billion in the first quarter of 2015. In 2016 and 2017, they will place Rp200 billion each. In total the company will have placed Rp1.3 trillion in Bank Mutiara by 2018.
FAIZ NASHRILLAH