Caplok BFI Finance, Conglomerate Jerry Ng Already Gets Blessing From OJK

JAKARTA - Conglomerate Jerry Ng obtained approval from the Financial Services Authority (OJK) as controller of PT BFI Finance Indonesia Tbk (BFIN).

"On July 7, 2022, Jerry Ng has obtained OJK approval for a fit and proper test as the controller of the company," said BFI Finance Director Sudjono in an information disclosure on the Indonesia Stock Exchange (IDX) website, Wednesday 13 July.

Sujono continued that the OJK approval letter was received on July 8, 2022.

"There is no impact on operational activities, law, financial condition or business continuity of the company," he explained.

As is well known, Jerry Ng became a shareholder of BFI Finance through a voluntary tender conducted by the majority shareholder of BFIN, namely Trinugraha Capital & Co SCA in which Jerry became the majority shareholder.

Trinugraha Capital & Co now owns a 48.15 percent stake in BFI Finance. Meanwhile, prior to the voluntary tender, Trinugraha Capital & Co's share ownership was 42.81 percent.

"Trinugraha bought 852.87 million shares with an exercise price of Rp. 1,200 per share. The share transaction was carried out on April 25, 2022. The purpose of the transaction is to increase Trinugraha's share ownership in BFI Finance," Sujono previously wrote in an information disclosure.

Trinugraha Capital plans to develop BFI Finance into a leading finance company in Indonesia.