Wednesday, January 21, 2009

What happen Danamon ???

What happen with PT Bank Danamon Indonesia ??

Bank Danamon owned byTemasek Holdings Pte and Deutsche Bank AG, posted a 29 percent decline in profit last year after setting aside money to cover losses from derivative transactions. Last day, Head of Treasury Bank Danamon Alfin Tholib resign.

My source tell me that the bank have potential loss until IDR1 trillion from derivatif transactions. Net income fell to IDR 1.5 trillion last year, the company said in a statement today. That compares with a 2.1 trillion rupiah profit the bank reported in 2007.

Without provision, Bank Danamon must be posted profit rose to IDR2.3 trillion. A 14.5 percent drop in the rupiah in the fourth quarter and a decline in commodity prices affected the ability of exporters to pay for their foreign-exchange forward contracts, prompting Indonesia

Bank Danamon shares fell 14.6 percent to IDR2,200, the worst performing stock in the Jakarta finance index, which dropped 4 percent. The profit announced today was unaudited. The company will announce earning details next month.

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