Shareholders of PT Excelcomindo Pratama, Telecom Malaysia International (TM) and Emirates Telecommunications Corporation (Etisalat) become standby buyers of the rights issue held by PT Excelcomindo Pratama Tbk.
Excelcomindo has appointed JP Morgan, Merril Lynch, and Mandiri Sekuritas to help ease the rights issue as the arrangers. As to Hasnul, the corporate and arrangers here still calculate the new shares price on the market.
Etisalat as the leading cellular operator in the Arab Emirate becomes the telecommunication service provider and acquired 15.79 percent of Excelcomindo shares by end of 2007 from Peter Sondakh through Bella Sapphire Ventures Ltd. TM possess 83.79 percent Excelcomindo shares through Indocel Holding Sdn Bhd.
Thursday, February 26, 2009
Igansius Jonan, new CEO Kereta Api
Former CEO PT Bahana Pembinaan Usaha Indonesia become a President Director PT Kereta Api. Last year, Jonan is a strong candidate for CEO President Director of the Asset Management Company (PPA).
Jonan was appointed as BPUI president director in February 2001 to replace Sudjiono Timan. His tenure ended in February 2006, but at that time the shareholders had not named his successor.
So, Jonan has submitted his resigning letter to Bank Indonesia and the Ministry of State Owned Enterprises, the shareholders of the company. He moved to Citigroup.
Jonan was appointed as BPUI president director in February 2001 to replace Sudjiono Timan. His tenure ended in February 2006, but at that time the shareholders had not named his successor.
So, Jonan has submitted his resigning letter to Bank Indonesia and the Ministry of State Owned Enterprises, the shareholders of the company. He moved to Citigroup.
New CEO UBS
UBS announced today that the Board of Directors has appointed Oswald J. Grubel as its new Group Chief Executive Officer with immediate effect. This represents a further step to restore stakeholder confidence and to pave the way back to success.
Mr. Grübel was the architect of a successful turnaround and restored confidence in the
company in turbulent times. During his career of almost forty years at Credit Suisse, he held various management positions both on Group level and in the investment banking and private banking areas. From 2003 until spring 2007, he was Co-CEO and CEO of Credit Suisse.
Mr. Grübel was the architect of a successful turnaround and restored confidence in the
company in turbulent times. During his career of almost forty years at Credit Suisse, he held various management positions both on Group level and in the investment banking and private banking areas. From 2003 until spring 2007, he was Co-CEO and CEO of Credit Suisse.
Danareksa May Suffer from Derivative Loss
State-owned financial services company PT Danareksa may suffer from loss on derivative transaction if the rupiah exchange rate against the US dollar stays at IDR12,100 until the mid-year.
The transaction confided Danareksa had contract agreements worth US$48 million or IDR576 billion on US dollar sale option with two banks, PT Bank Permata Tbk and Standard Chartered Bank. Danareksa has option contracts to sell the US dollar to the two banks at around IDR10,000.
If the rupiah exchange rate against the US dollar stayed at IDR12,100, Danareksa would suffer from loss. On the other hand, if the rupiah exchange rate against the US dollar soared to less than IDR10,000, Danareksa would be able to rake money in.
Outside Danareksa, other companies doing derivative transactions are PT Aneka Tambang Tbk (Antam), PT Timah Tbk, and PT Elnusa Tbk.
Option, one of derivative transaction instruments, is an agreement giving the buyer an option rights to realize foreign currency sales and purchase agreements at the exchange rate of the time the agreements were made.
Danareksa had had one-year derivative contracts since September 2008, meaning the state-owned enterprise had posted loss in the fourth quarter of 2008 in the wake of weaker rupiah against the US dollar.
The transaction confided Danareksa had contract agreements worth US$48 million or IDR576 billion on US dollar sale option with two banks, PT Bank Permata Tbk and Standard Chartered Bank. Danareksa has option contracts to sell the US dollar to the two banks at around IDR10,000.
If the rupiah exchange rate against the US dollar stayed at IDR12,100, Danareksa would suffer from loss. On the other hand, if the rupiah exchange rate against the US dollar soared to less than IDR10,000, Danareksa would be able to rake money in.
Outside Danareksa, other companies doing derivative transactions are PT Aneka Tambang Tbk (Antam), PT Timah Tbk, and PT Elnusa Tbk.
Option, one of derivative transaction instruments, is an agreement giving the buyer an option rights to realize foreign currency sales and purchase agreements at the exchange rate of the time the agreements were made.
Danareksa had had one-year derivative contracts since September 2008, meaning the state-owned enterprise had posted loss in the fourth quarter of 2008 in the wake of weaker rupiah against the US dollar.
Thursday, February 19, 2009
Thila Nadason, a new BII Director ?
Former PT Bank CIMB Niaga Tbk Director, Thila Nadason will move to PT Bank Internasional Indonesia Tbk.
Thila is former Finance & Corporate Planning Director of PT Bank CIMB Niaga Tbk since 1 November 2008.
Previously she was Director of PT Bank Lippo Tbk. She was also public accountant in Pricewaterhouse Coopers in Singapore, Hong Kong and Indonesia. Holding Bachelor Degree in Accounting from University of Singapore.
Thila is former Finance & Corporate Planning Director of PT Bank CIMB Niaga Tbk since 1 November 2008.
Previously she was Director of PT Bank Lippo Tbk. She was also public accountant in Pricewaterhouse Coopers in Singapore, Hong Kong and Indonesia. Holding Bachelor Degree in Accounting from University of Singapore.
CEO Gudang Garam Resign
PT Gudang Garam, Indonesia second-largest cigarette maker, said President Director
Djajusman Surjowijono has resigned.
The company board of commissioners received Surjowijono resignation letter on Feb. 17, Gudang Garam said in a statement to the Indonesia Stock Exchange.
Djajusman Surjowijono has resigned.
The company board of commissioners received Surjowijono resignation letter on Feb. 17, Gudang Garam said in a statement to the Indonesia Stock Exchange.
Wednesday, February 18, 2009
Rights Offer Price Danamon IDR1,200
Bank Danamon today announced that the Bank intends to raise equity capital by way of a renounceable rights issue (rights issue).
Shareholders whose name are registered in the Share Register of the Bank on the date to be approved by an extraordinary general meeting of shareholders (the EGM) will be entitled to 68 pre-emptive rights for every 100 shares held. Each pre-emptive right will entitle the holder to subscribe for one share at a price (the Rights Offer Price) of Rp. 1,200 per share.
The Rights Offer Price of IDR 1,200 per share represents approximately 46.7% discount to the closing price of IDR 2,250 on 17 February 2009 (the last closing price prior to filing of the prospectus with BAPEPAM-LK), and approximately 34.2% discount to the theoretical ex-rights price of Rp. 1,825 per share.
Asia Financial (Indonesia) Pte Ltd, the Bank’s largest shareholder with a 67.9% interest, has provided an undertaking to fully subscribe its entitlement of the Rights Issue shares. The Rights Issue is fully underwritten. Citigroup Global Markets Singapore Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte. have agreed to act as Standby Purchasers for 32.1% of the Rights Issue shares that are not subscribed (after having taken into account any excess applications) by other shareholders in the Rights Issue.
Bank Danamon currently has a strong capital position with a consolidated Tier 1 ratio and Capital Adequacy Ratio (CAR) of 13.8% and 15.4%, respectively, which are well above the minimum requirements of 4% and 8%, respectively, set by Bank Indonesia.
The Rights Issue will further strengthen the Bank’s capital position and enhance its capacity to pursue growth in microfinance and SME segments. After adjusting for the estimated net proceeds of the Rights Issue, the pro forma consolidated Tier 1 ratio and CAR of Danamon as at 31 December 2008 will increase to 19.2% and 20.8%, respectively.
Shareholders whose name are registered in the Share Register of the Bank on the date to be approved by an extraordinary general meeting of shareholders (the EGM) will be entitled to 68 pre-emptive rights for every 100 shares held. Each pre-emptive right will entitle the holder to subscribe for one share at a price (the Rights Offer Price) of Rp. 1,200 per share.
The Rights Offer Price of IDR 1,200 per share represents approximately 46.7% discount to the closing price of IDR 2,250 on 17 February 2009 (the last closing price prior to filing of the prospectus with BAPEPAM-LK), and approximately 34.2% discount to the theoretical ex-rights price of Rp. 1,825 per share.
Asia Financial (Indonesia) Pte Ltd, the Bank’s largest shareholder with a 67.9% interest, has provided an undertaking to fully subscribe its entitlement of the Rights Issue shares. The Rights Issue is fully underwritten. Citigroup Global Markets Singapore Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte. have agreed to act as Standby Purchasers for 32.1% of the Rights Issue shares that are not subscribed (after having taken into account any excess applications) by other shareholders in the Rights Issue.
Bank Danamon currently has a strong capital position with a consolidated Tier 1 ratio and Capital Adequacy Ratio (CAR) of 13.8% and 15.4%, respectively, which are well above the minimum requirements of 4% and 8%, respectively, set by Bank Indonesia.
The Rights Issue will further strengthen the Bank’s capital position and enhance its capacity to pursue growth in microfinance and SME segments. After adjusting for the estimated net proceeds of the Rights Issue, the pro forma consolidated Tier 1 ratio and CAR of Danamon as at 31 December 2008 will increase to 19.2% and 20.8%, respectively.
Tuesday, February 17, 2009
Danamon raise IDR4 triliun
PT Bank Danamon Indonesia, backed byTemasek Holdings Pte and Deutsche Bank AG, plans to raise about 4 trillion rupiah from existing shareholders to replenish capital
The proceedsmay help Danamon, which plans to repurchase $300 million of its subordinated debt next month, to boost lending by 10 percent this year and maintain its capital adequacy ratio.C itigroup Inc. and Morgan Stanley were hired to arrange the sale.
The proceedsmay help Danamon, which plans to repurchase $300 million of its subordinated debt next month, to boost lending by 10 percent this year and maintain its capital adequacy ratio.C itigroup Inc. and Morgan Stanley were hired to arrange the sale.
Indika Energy to Acquire Petrosea
PT Indika Energy Tbk, a company owned by tycoon Sudwikatmono, is going to acquire a 77.90% stake in a mining contractor service company, PT Petrosea Tbk, at a premium price of 68% higher from yesterday's market closing price.
Indika, which controls a 46% stake in the third largest coal mining company in Indonesia itu PT Kideco Jaya Agung, was in the final negotiation with Clough International Singapore Pte Ltd to buy a 77.90% stake in Petrosea.
Indika as of December 31, 2008 had US$367 million or IDR4.03 trillion in cash. This year, the company, which has three main business pillars-energy resources, services, and infrastructures-will also rake in US$100 million worth of dividends from its subsidiaries, US$92 million of which will come from Kideco.
Indika, which controls a 46% stake in the third largest coal mining company in Indonesia itu PT Kideco Jaya Agung, was in the final negotiation with Clough International Singapore Pte Ltd to buy a 77.90% stake in Petrosea.
Indika as of December 31, 2008 had US$367 million or IDR4.03 trillion in cash. This year, the company, which has three main business pillars-energy resources, services, and infrastructures-will also rake in US$100 million worth of dividends from its subsidiaries, US$92 million of which will come from Kideco.
Monday, February 16, 2009
Antonius Sumarlin replace CEO Humpuss Intermoda
Hutomo Mandala Putra (Tommy), the major shareholder of PT Humpuss Intermoda Transportasi Tbk, change the structure of commissioners and directors boards in the general meeting of shareholders today. Antonius Sumarlin, replace Agus Darjanto as a CE Humpuss Intermoda
Tommy as the major shareholder in shares ownership of Humpuss Intermoda owns 76.89 percent of the go public company here.
As per 6 February 2009, Humpuss has been possessed either by PT Investa Dharma Putera with 5.17 percent shares ownership, Lincoln Circle Limited 5.57 percent, Astonvilee Circle Limited 5.16 percent, Humpuss Intermoda 6.63 percent, Humpuss 7,6 percent, Humpuss, 53.23 percent and Humpuss Incorporated 9.43 percent.
Tommy has 60 percent of PT Humpuss shares as the holding company of Humpuss Intermoda and Tommy's sibling, Sigit Harjoyudanto, has 40 percent.
Tommy as the major shareholder in shares ownership of Humpuss Intermoda owns 76.89 percent of the go public company here.
As per 6 February 2009, Humpuss has been possessed either by PT Investa Dharma Putera with 5.17 percent shares ownership, Lincoln Circle Limited 5.57 percent, Astonvilee Circle Limited 5.16 percent, Humpuss Intermoda 6.63 percent, Humpuss 7,6 percent, Humpuss, 53.23 percent and Humpuss Incorporated 9.43 percent.
Tommy has 60 percent of PT Humpuss shares as the holding company of Humpuss Intermoda and Tommy's sibling, Sigit Harjoyudanto, has 40 percent.
Friday, February 13, 2009
Danamon & Elnusa Settle Derivative Contract Out of Court
Finally, PT Bank Danamon Indonesia reached an out-of-court settlement with PT Elnusa concerning a derivative contract worth $9 million.
Bank Danamon had a total of $220 million in derivativecontracts with 22 clients that are now worth $49 million at market prices. Of the clients, 21 had agreed to keep the contracts until maturity while the bank was still in negotiation with one client whose contract was now worth $9 million.
Danamon reported last month a 29 percent drop in 2008profit as it set aside money to cover losses from derivative deals.
Bank Danamon had a total of $220 million in derivativecontracts with 22 clients that are now worth $49 million at market prices. Of the clients, 21 had agreed to keep the contracts until maturity while the bank was still in negotiation with one client whose contract was now worth $9 million.
Danamon reported last month a 29 percent drop in 2008profit as it set aside money to cover losses from derivative deals.
Thila & Farid Alias resign from CIMB Niaga Bank
Two officials of PT Bank CIMB Niaga Tbk claimed to resign from their posts and jumped to other national private bank.
Thilagavathy Nadason as the Finance & Corporate Planning director of PT Bank CIMB Niaga Tbk since 1 November 2008 has orally stated his resignation plan. Besides, Abdul Farid Alias as the commissioner of Bank CIMB Niaga also proposed his resignation.
Thila formerly was the director of PT Bank Lippo Tbk and has ever worked for Pricewaterhouse Coopers in Singapore, Hong Kong, and Indonesia.
Farid posed as the commissioner of Bank CIMB Niaga since 1 November 2008 who was formerly the commissioner of Bank Lippo since 26 August2005 representing the Khazanah Nasional Berhad. He formerly was the director of Santubong Investments B.V.
Thilagavathy Nadason as the Finance & Corporate Planning director of PT Bank CIMB Niaga Tbk since 1 November 2008 has orally stated his resignation plan. Besides, Abdul Farid Alias as the commissioner of Bank CIMB Niaga also proposed his resignation.
Thila formerly was the director of PT Bank Lippo Tbk and has ever worked for Pricewaterhouse Coopers in Singapore, Hong Kong, and Indonesia.
Farid posed as the commissioner of Bank CIMB Niaga since 1 November 2008 who was formerly the commissioner of Bank Lippo since 26 August2005 representing the Khazanah Nasional Berhad. He formerly was the director of Santubong Investments B.V.
Wednesday, February 11, 2009
EBA of Danareksa-SMF only sold at IDR11 billion
The value of the first asset-backed securities (EBA) issuance in Indonesia by PT Sarana Multigriya Finansial (SMF) probably stands at IDR11 billion or 11 percent of the former target of IDR100 billion.
Pension fund of PT Bank Ta-bungan Negara [BTN] absorbed IDR3 billion, and PT Bank Rakyat Indonesia Tbk (BRI) IDR8 billion. Thus the SMF as the standby buyer spends IDR89 billion to absorb the remaining EBA.
Pension fund of PT Bank Ta-bungan Negara [BTN] absorbed IDR3 billion, and PT Bank Rakyat Indonesia Tbk (BRI) IDR8 billion. Thus the SMF as the standby buyer spends IDR89 billion to absorb the remaining EBA.
Monday, February 9, 2009
Goodyear replace Ho Ching
The Board of Directors of Temasek Holdings (Private) Limited (Temasek) last week announced a leadership transition – Mr Charles (Chip) W. Goodyear will succeed Ms Ho Ching as Chief Executive to lead the Singapore investment company.
Goodyear, 51, an American, joined the Temasek Board on 1 February. He assumes the position of CEO-Designate on 1 March and will succeed Ms Ho on 1 October 2009. Goodyear retired from BHP Billiton on 1 January 2008 after leading the world’s largest diversified resources company through its rapid growth and expansion.
The appointment and leadership transition will further strengthen Temasek’s Board and management. The Board, including Ms Ho, has been addressing succession planning annually since early 2005.
Incorporated in 1974, Temasek Holdings is a global investment firm headquartered in Singapore. Supported by affiliates and offices around the world, it holds and manages a diversified S$185 billion (US$134 billion) portfolio as at 31 March 2008, concentrated principally in Singapore, Asia and the OECD economies.
Goodyear, 51, an American, joined the Temasek Board on 1 February. He assumes the position of CEO-Designate on 1 March and will succeed Ms Ho on 1 October 2009. Goodyear retired from BHP Billiton on 1 January 2008 after leading the world’s largest diversified resources company through its rapid growth and expansion.
The appointment and leadership transition will further strengthen Temasek’s Board and management. The Board, including Ms Ho, has been addressing succession planning annually since early 2005.
Incorporated in 1974, Temasek Holdings is a global investment firm headquartered in Singapore. Supported by affiliates and offices around the world, it holds and manages a diversified S$185 billion (US$134 billion) portfolio as at 31 March 2008, concentrated principally in Singapore, Asia and the OECD economies.
Indofood seeks IDR1 trillion bonds
PT Indofood Sukses Makmur Tbk eyes on the possible bond issuance worth IDR1 trillion while waiting for a conducive market.
Would the bond issuance scheme come to real, the INDF stock code company will spend its fund to refinance the III bond series worth IDr976 billion which will mature by July this year.
The instant noodle producer in May last year planned to issue IDR1.5 trillion bond. But eventually the plan was called of as the investor demanded for about 14 percent return. Indofood prefers to seek fund from bank loan to finance its business expansion.
Indofood last year appointed five underwriters to help ease the rupiah bond issuance. Those include DBS Vickers Securities Holdings Pte, ING Securities, Mandiri Sekuritas, Danareksa Sekuritas, and Kim Eng Securities.
Would the bond issuance scheme come to real, the INDF stock code company will spend its fund to refinance the III bond series worth IDr976 billion which will mature by July this year.
The instant noodle producer in May last year planned to issue IDR1.5 trillion bond. But eventually the plan was called of as the investor demanded for about 14 percent return. Indofood prefers to seek fund from bank loan to finance its business expansion.
Indofood last year appointed five underwriters to help ease the rupiah bond issuance. Those include DBS Vickers Securities Holdings Pte, ING Securities, Mandiri Sekuritas, Danareksa Sekuritas, and Kim Eng Securities.
Thursday, February 5, 2009
Karen & Omar, new leader of Pertamina
Government appointed Karen Agustiawan as PT Pertamina's president director, the first woman chief executive officer of an Asian national oil company.
State-Enterprises Minister Sofyan Djalil installed Agustiawan, 50, in the position today. Omar Anwar, head of Rio Tinto Plc Indonesian unit, was appointed vice president.
Agustiawan graduated from Bandung Institute of Technology and was a manager at Halliburton Co. a Indonesian unit. She had been an adviser to Ari Soemarno, Pertamina's current president,
before she was promoted to upstream director on March 5. Soemarno term was slated to end in 2011.
Anwar is replacing Iin Arifin Takhyan, who, with Soemarno, was appointed in March 2006.
The government is keeping the other executives in the board, including Achmad Faisal, director of marketing, and processing director Rukmi Hadihartini, said Agustiawan, who will
hold on to her position as upstream director.
State-Enterprises Minister Sofyan Djalil installed Agustiawan, 50, in the position today. Omar Anwar, head of Rio Tinto Plc Indonesian unit, was appointed vice president.
Agustiawan graduated from Bandung Institute of Technology and was a manager at Halliburton Co. a Indonesian unit. She had been an adviser to Ari Soemarno, Pertamina's current president,
before she was promoted to upstream director on March 5. Soemarno term was slated to end in 2011.
Anwar is replacing Iin Arifin Takhyan, who, with Soemarno, was appointed in March 2006.
The government is keeping the other executives in the board, including Achmad Faisal, director of marketing, and processing director Rukmi Hadihartini, said Agustiawan, who will
hold on to her position as upstream director.
Wednesday, February 4, 2009
Adaro expects EBITDA US$1 billion
PT Adaro Energy, Indonesia second-largest coal producer, forecast that earnings before interest,
taxes, depreciation and amortization may more than double this year to as much as $1 billion on higher prices and production.
Output may rise as much as 17 percent to 45 million metric tons this year, compared with a 7 percent gain to 38.5 million tons in 2008, according to a statement today. Adaro has also
negotiated the price on 70 percent of 2009 contracts and expects the average selling price this year to be higher than in 2008.
The higher output and prices may help Adaro to buck the impact of the global recession, which has undermined commodity and energy prices. The demand for our specialty coal, Envirocoal, remains firm, President Director Garibaldi Thohir said in the statement, which was issued to the Indonesian stock exchange. However, due to the difficult economic times, we must continue to prudently manage our cash and cash flow.
The company may shorten the length of a proposed overland coal conveyer belt to preserve cash for debt payments and other investments, Adaro said. Still, the company retained a medium-
term target of increasing production to 80 million tons a year by 2013, it said.
taxes, depreciation and amortization may more than double this year to as much as $1 billion on higher prices and production.
Output may rise as much as 17 percent to 45 million metric tons this year, compared with a 7 percent gain to 38.5 million tons in 2008, according to a statement today. Adaro has also
negotiated the price on 70 percent of 2009 contracts and expects the average selling price this year to be higher than in 2008.
The higher output and prices may help Adaro to buck the impact of the global recession, which has undermined commodity and energy prices. The demand for our specialty coal, Envirocoal, remains firm, President Director Garibaldi Thohir said in the statement, which was issued to the Indonesian stock exchange. However, due to the difficult economic times, we must continue to prudently manage our cash and cash flow.
The company may shorten the length of a proposed overland coal conveyer belt to preserve cash for debt payments and other investments, Adaro said. Still, the company retained a medium-
term target of increasing production to 80 million tons a year by 2013, it said.
Bank Permata eyes on US$200 million sub debt
PT Bank Permata Tbk eyes on the possible issuance of subordination bonds worth US$100-200 million to boost up the capital adequacy ratio (CAR).
An executive knowing the information said the fund generated from the junior bonds issuance will be allotted to raise the corporate CAR.
"Bonds issuance here will be done gradually. The would-be standby buyers will become the ultimate shareholders," he said yesterday.
The bond here will have 10 years tenure with call option mechanism on the fifth year. Subordination bond serves as an alternative for bank to boost up CAR. Half of the fund raked from the bond issuance will be allotted for the bank second tier so as to mount the CAR.
Based on data per 31 December 2008, PT Astra Internasional Tbk and Standard Chartered Bank are deemed the shareholders of 44.51 percent Bank Permata shares.
An executive knowing the information said the fund generated from the junior bonds issuance will be allotted to raise the corporate CAR.
"Bonds issuance here will be done gradually. The would-be standby buyers will become the ultimate shareholders," he said yesterday.
The bond here will have 10 years tenure with call option mechanism on the fifth year. Subordination bond serves as an alternative for bank to boost up CAR. Half of the fund raked from the bond issuance will be allotted for the bank second tier so as to mount the CAR.
Based on data per 31 December 2008, PT Astra Internasional Tbk and Standard Chartered Bank are deemed the shareholders of 44.51 percent Bank Permata shares.
Tuesday, February 3, 2009
Gottfried & Henk resign from CIMB Niaga
Two Executives PT CIMB Niaga Bank Tbk resign from the position. Vice President Director CIMB Niaga Henk Gezienus Mulder and Director Gottfried Tampubolon has given resign letter to board of director.
Henk is Vice President Director of Bank CIMB Niaga since 1 November 2008. Previously he was President Director of PT Bank Lippo Tbk from May 2007 to October 2008. He also served as executive officer at ABN AMRO Bank in various countries such as India, Rumania, Columbia, Indonesia, and Saudi Arabia. He holds Bachelor Degree in Law from University of Groningen, Belanda in 1980.
Gottfried is Treasury & Financial Director of Bank CIMB Niaga since 1 November 2008. Previously he was Director of Bank Lippo. From 2000 to 2005 he worked in Citibank NA, Jakarta as Country Treasurer and Money Market Head from 1997 to 2000. Holding Master Degree in Economics from University of Indonesia.
Bank CIMB Niaga, a merger of the former PT Bank Niaga Tbk and Bank Lippo, booked significant profit plummet soon after the merger on November 1, 2008.
In November 2008 financial report with segregated reports, Bank Lippo net profit stood at IDR140.51 billion or 74 percent drop as from IDr549.90 billion of the previous year. Bank Niaga booked IDR593.71 billion or 13 percent decline as from November 2007
Henk is Vice President Director of Bank CIMB Niaga since 1 November 2008. Previously he was President Director of PT Bank Lippo Tbk from May 2007 to October 2008. He also served as executive officer at ABN AMRO Bank in various countries such as India, Rumania, Columbia, Indonesia, and Saudi Arabia. He holds Bachelor Degree in Law from University of Groningen, Belanda in 1980.
Gottfried is Treasury & Financial Director of Bank CIMB Niaga since 1 November 2008. Previously he was Director of Bank Lippo. From 2000 to 2005 he worked in Citibank NA, Jakarta as Country Treasurer and Money Market Head from 1997 to 2000. Holding Master Degree in Economics from University of Indonesia.
Bank CIMB Niaga, a merger of the former PT Bank Niaga Tbk and Bank Lippo, booked significant profit plummet soon after the merger on November 1, 2008.
In November 2008 financial report with segregated reports, Bank Lippo net profit stood at IDR140.51 billion or 74 percent drop as from IDr549.90 billion of the previous year. Bank Niaga booked IDR593.71 billion or 13 percent decline as from November 2007
Monday, February 2, 2009
Karen for CEO Pertamina
Upstream Director of Pertamina Karen Agustiawan is strong candidate for new CEO Pertamina
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