Indonesia’s Bank Mandiri plan to raise $714m

Visual from company's homepage

Indonesian Government is encouraging the state-owned banks to raise funds, to support the country’s infrastructure expansion plan.

State Enterprises Minister Rini Soemarno said on Monday that the state-owned PT Bank Mandiri Tbk will increase its capital by nine trillion rupiah ($714.6 million), of which 5.6 trillion rupiah will be raised through a rights issue and the rest 3.4 trillion rupiah will come from the government’s injection by assets.

This will be subject to the parliament’s approval, but she refused to disclose the timeframe.

Meanwhile, after the announcement on Monday, PT Bank Mandiri Tbk’s chief executive Budi Gunadi Sadikin also told Reuters that it may raise up to 5.9 trillion rupiah (US$467.81 million) through a rights issue in the next six months. However, no further details were revealed.

Soemarno said that it would be difficult for all the state-owned banks to tap the capital market at the same time, so Bank Mandiri is being prioritised, plus its dividend payout is ‘quite large’.

According to Thomson Reuters data as of September 2014, the government owned 60.6 per cent of Bank Mandiri.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.