PT Bank Jabar Banten plans to issue IDR2 trillion bonds to maintain mismatch maturity of the fund resource and credit disbursement.
Director of Fund and Service of Bank Jabar Banten Tatang Sumarna said the bond tenure is 3 and 5 years.
"We plan to issue bonds in semester II/2010 using early June finance statement," he said yesterday.
He said all fund generated from the issuance will be allotted for credit expansion. "We have mature bonds obligation December next year worth IDR1 trillion. But the fund resource for the payment is not derived from the would-be issued bond here."
Now the company has yet to invite any underwriter candidate noting that the management still focuses on the IPO which is scheduled by mid of the year.
Bank Jabar Banten has appointed PT Bahana Securities and PT CIMB Securities Indonesia to underwrite the IPO with full commitment mechanism.
The company open possibility to increase the percentage of the stocks as from 20 into 30 percent.
"The general meeting of shareholders have given permit to the company to sell stocks to public up to 40 percent. But initially we will sell 20 percent and if market gives good response, the stock percentage could be increased up to 30 percent instead of reaching at 40 percent at maximum."
Some 80 percent of the generated funds from the IPO will be allotted for credit expansion. Some 10 percent is for information technology networks and the other 10 percent is for office networks expansion.
He said this year, the company plans to open new branch in West Jakarta, Denpasar, Tegal, Makasar, Balikpapan, and Pekanbaru. "Market in Jakarta is very potential. We have four branches in Jakarta with IDR8 trillion contribution to the corporate assets."
Previously the IPO of Bank Jabar Banten was scheduled by mid 2008. But on March 17-19, 2008, the company had meeting with some investors including Schroders, Cundill Investment Management, Danareksa Investment
Management, Jamsostek, and Trimegah Asset Management. But the market condition was not conducive on that period and thus it led the management to suspend IPO execution.
Capital market observer Kahlil Rowter said Bank Jabar Banten could tap maximum gain upon the right timing.
He said foreign investors expressed good interest to small scale bank. But, market situation remains volatile. "Actually foreign investors like Indonesia with good economy growth, potential market, stable inflation, and less expensive price. The challenge is when there is redemption from the origin countries."
Tatang said the company has targeted to be part of the largest top ten banks in Indonesia in terms of asset worth . not the company is on the 17 levels of the largest bank in Indonesia based on the asset and asset value of ID32.4 trillion. "Until end of the year we target the corporate asset to reach IDR40 trillion."
This year the company aims to get IDR24.5 trillion credit as from last year of IDR19.6 trillion.
Director of Fund and Service of Bank Jabar Banten Tatang Sumarna said the bond tenure is 3 and 5 years.
"We plan to issue bonds in semester II/2010 using early June finance statement," he said yesterday.
He said all fund generated from the issuance will be allotted for credit expansion. "We have mature bonds obligation December next year worth IDR1 trillion. But the fund resource for the payment is not derived from the would-be issued bond here."
Now the company has yet to invite any underwriter candidate noting that the management still focuses on the IPO which is scheduled by mid of the year.
Bank Jabar Banten has appointed PT Bahana Securities and PT CIMB Securities Indonesia to underwrite the IPO with full commitment mechanism.
The company open possibility to increase the percentage of the stocks as from 20 into 30 percent.
"The general meeting of shareholders have given permit to the company to sell stocks to public up to 40 percent. But initially we will sell 20 percent and if market gives good response, the stock percentage could be increased up to 30 percent instead of reaching at 40 percent at maximum."
Some 80 percent of the generated funds from the IPO will be allotted for credit expansion. Some 10 percent is for information technology networks and the other 10 percent is for office networks expansion.
He said this year, the company plans to open new branch in West Jakarta, Denpasar, Tegal, Makasar, Balikpapan, and Pekanbaru. "Market in Jakarta is very potential. We have four branches in Jakarta with IDR8 trillion contribution to the corporate assets."
Previously the IPO of Bank Jabar Banten was scheduled by mid 2008. But on March 17-19, 2008, the company had meeting with some investors including Schroders, Cundill Investment Management, Danareksa Investment
Management, Jamsostek, and Trimegah Asset Management. But the market condition was not conducive on that period and thus it led the management to suspend IPO execution.
Capital market observer Kahlil Rowter said Bank Jabar Banten could tap maximum gain upon the right timing.
He said foreign investors expressed good interest to small scale bank. But, market situation remains volatile. "Actually foreign investors like Indonesia with good economy growth, potential market, stable inflation, and less expensive price. The challenge is when there is redemption from the origin countries."
Tatang said the company has targeted to be part of the largest top ten banks in Indonesia in terms of asset worth . not the company is on the 17 levels of the largest bank in Indonesia based on the asset and asset value of ID32.4 trillion. "Until end of the year we target the corporate asset to reach IDR40 trillion."
This year the company aims to get IDR24.5 trillion credit as from last year of IDR19.6 trillion.
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