Djarum controls 92,18% Farindo Investment
Farallon Capital and Alaerka Investment (controlled by Djarum Group) changed ownership structure at Farindo Investment (Mauritius) Ltd which controls 51.18% PT Bank Central Asia (BCA) Tbk, an official at Bank Indonesia said today.
"Under the new structure, Alaerka controls 92.18% shares in Farindo while Farallon the remaining 7.82%," the officer said.
Initially, Alaerka only owned 9.36% while Farallon at 90.64%. According to BCA's financial report in September, Farallon Capital, Robert Budi Hartono & Michael Bambang Hartono are the ultimate shareholders of Farindo Investment. With the transfer, Alaerka now has indirect ownership of around 46% at BCA which as market capitalization of USD6.8 billion.
Jahja Setiaatmadja, CFO at BCA admitted the change. "Yes, the management received the letter from our shareholders about the change and we had reported it to Central Bank and Bapepam," Jahja said when I contacted for confirmation.
Both my source at Central Bank and Jahja don't know the value of the transaction. "It's beyond our authority. It's a matter between shareholders. But one thing for sure, there will be no management or governance change at BCA," Jahja said.
"The transaction is not on BCA shares. Farindo would still controls 51.18% shares in BCA. That's why they have no obligation to disclose the transaction," an officer at Bapepam argued.
According to the latest report of BCA registered shareholders to JSX on January 5, 2007, as of December 31, 2006, foreign entities control 93% shares. BCA share price closed at Rp5,000 on Monday trading.
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"Under the new structure, Alaerka controls 92.18% shares in Farindo while Farallon the remaining 7.82%," the officer said.
Initially, Alaerka only owned 9.36% while Farallon at 90.64%. According to BCA's financial report in September, Farallon Capital, Robert Budi Hartono & Michael Bambang Hartono are the ultimate shareholders of Farindo Investment. With the transfer, Alaerka now has indirect ownership of around 46% at BCA which as market capitalization of USD6.8 billion.
Jahja Setiaatmadja, CFO at BCA admitted the change. "Yes, the management received the letter from our shareholders about the change and we had reported it to Central Bank and Bapepam," Jahja said when I contacted for confirmation.
Both my source at Central Bank and Jahja don't know the value of the transaction. "It's beyond our authority. It's a matter between shareholders. But one thing for sure, there will be no management or governance change at BCA," Jahja said.
"The transaction is not on BCA shares. Farindo would still controls 51.18% shares in BCA. That's why they have no obligation to disclose the transaction," an officer at Bapepam argued.
According to the latest report of BCA registered shareholders to JSX on January 5, 2007, as of December 31, 2006, foreign entities control 93% shares. BCA share price closed at Rp5,000 on Monday trading.
Labels: BCA, Djarum Group
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posted by yosef at 7:28 PM
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