Conglomerate Chairul Tanjung Deposits IDR 750 Billion To Bank Allo, Ex-Bank Harda, Here's The Explanation

Chairul Tanjung conglomerate. (Photo: Doc. Thepeopleofasia)

JAKARTA - PT Bank Allo Indonesia Tbk, the bank previously known as Bank Harda, provided an explanation regarding changes of more than 20 percent in total assets and total liabilities.

In Bank Allo's statement on the Indonesia Stock Exchange's information disclosure page, quoted on Tuesday, August 3, Plt. President Director Ari Yanuarto Asah said the company's total assets in June 2021 were recorded at Rp4.22 trillion. The figure is up 62.23 percent from the position earlier this year.

Meanwhile, total liabilities were recorded at Rp3.86 trillion, up 72.72 percent from the initial position this year. Ari explained that the increase in total assets was due to the purchase of securities amounting to Rp1.82 trillion.

"The increase in total liabilities by 72.72 percent was due to the placement of deposits of Rp. 750 billion from PT Mega Corpora as PSP which will later be converted into capital after obtaining OJK approval," said Ari.

For information, Mega Corpora is a company owned by the boss of CT Corp, conglomerate Chairul Tanjung, who is also the owner of PT Bank Mega Tbk. (MEGA). Mega Corpora becomes the controlling shareholder (PSP) in Bank Allo.

Bank Allo will conduct a limited public offering (PUT) II to shareholders in order to increase capital with pre-emptive rights (HMETD) or a rights issue of 7,498,501,696 billion new shares with a nominal value of Rp100 per share.

The company set the exercise price for the rights issue at Rp100 per share. Thus, the amount of funds that will be received by the company in this corporate action is IDR 749.85 billion.

In an explanation to the Exchange in early July, the Board of Directors of Allo Bank explained that the company has now obtained an effective statement from the OJK to increase capital with Pre-emptive Rights (PMHMETD) with OJK letter No.S-104/D.04/2021 dated June 30, 2021 regarding notification of the effective registration statement.

This action will increase the company's capital by around Rp749.85 billion. The proceeds from the rights issue will be used to fulfill the bank's minimum core capital which will provide the company's ability to develop business activities in the credit sector with technological innovations known as digital banks.