TEMPO.CO, Jakarta - State-owned Bank Mandiri plans to open a branch in Malaysia. President director Kartika Wirjoatmodjo said the company has set aside some 300 million Malaysian ringgit or Rp935 billion for the corporate act.
Kartika said Bank Mandiri is in the process of obtaining the Qualified ASEAN Bank (QAB) status, and that they have "received a green light" from the Malaysian central bank.
"We have made a proposal and hopefully we will get the license in August," he said in Jakarta on Sunday.
Bank Mandiri, he said, will inject capitals in three stages. "The initial commitment is some 100 million ringgits or about US$50million-US$60 million".
Bank Mandiri, he added, is also exploring to acquire several companies in the Philippines, for which they allocated a budget of Rp10 trillion.
ANGELINA ANJAR SAWITRI