Bank From Thailand Officially Annexed 30.01 Percent Shares Of Maspion Bank Owned By Conglomerate Alim Markus

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JAKARTA - Bank from Thailand, Kasikorn Bank Public Company Limited (KBank) officially controls 30.01 percent of PT Bank Maspion Tbk (BMAS) shares. KBank officially announced the acquisition schedule followed by a rights issue scheme, and all stages are expected to be completed on November 1, 2022.

In the BMAS information disclosure, quoted on Thursday 23 June, KBank placed Maspion Bank under Kasikorn Vision Financial Company Pte, Ltd (KVF), an entity newly formed in Singapore on 28 October 2021.

"KVF is a holding company for banks or financial institutions, including holding companies for insurance companies," wrote BMAS management.

In this action, KVF will carry out two stages of the transaction before leaving to become the controlling shareholder of the bank owned by the Alim Markus conglomerate. In the early stages, the company will buy 1.333.482.808 shares from the sellers, equivalent to 30.01 percent.

The details of the shares purchased by KVF are from PT Alim Investindo (8.17 percent), PT Maspion (12.46 percent), PT Husin Investama (2.81 percent), PT Maspion Investindo (2.46 percent), Alim Markus (1 .22 percent), Alim Mulia Sastra (0.98 percent), Alim Prakasa (0.98 percent), Gunardi (0.44 percent), and Alim Puspita (0.49 percent).

As a result, after the sale, the ownership of BMAS became PT Alim Investindo (53.84 percent), PT Guna Investindo (5.87 percent), KBank (9.99 percent), KVF (30.01 percent) and the public (0.29 percent). percent).

After the sale and purchase corporate action is completed, then BMAS will conduct a rights issue by increasing the authorized capital of at least IDR 3 trillion.

Right issue corporate action with the assumption that the community does not exercise their rights, the BMAS structure will change to PT Alim Investindo (29.22 percent), PT Guna Investindo (3.03 percent), KBank (5.16 percent), KVF (62.44 percent), and the community 0.15 percent.

Furthermore, it is explained in the corporate action plan that KVF will use internal cash. The company had previously been injected by KBank as the last controlling shareholder.

"KVF hereby declares that the funds used to carry out the takeover of BMAS did not originate from any loans or financing facilities in any form from banks and or other parties in Indonesia and/or sourced from and not for the purpose of money laundering," explained the company further.

It also stated that there were no changes that would harm the terms and conditions of employment after the corporate action.

"The company will not lay off employees as a result of the takeover," the company further wrote. Even if the employees are not impacted, KVF will nominate new directors and commissioners as a result of the takeover.