Tuesday, March 17, 2009

INDONESIA'S BANK PERMATA TO GET US$ 200 MLN CAPITAL INJECTION

JAKARTA-
Indonesia's PT Bank Permata (JSX:BNLI) will get a capital injection of US$200 million from its shareholders PT Astra International (JSX:ASII) and Standard Chartered bank.

The publicly listed lender will need fresh fund to strengthen its funding capacity, a bank sources told the newspaper Investor Daily.

Astra and Stanchart are finalizing the plan for additional capital to be available before July this year, the sources said.

Meanwhile, Bank Permata corporate secretary Sandi T Mulyana said additional capital is needed anticipating worse impact of the global financial crisis.

Mulyana, who declined to confirm the capital injection report, said the bank is considering three options to strengthen its capital - issuing bonds, launching right issue and seeking banks loans.

He denied suggestions that the bank needs capital injection to increase its capital adequacy ratio (CAR) saying the bank still has a safe CAR of 11 per cent well above the minimum limit of 8 per cent. (17th March 2009).

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