News: Maybank has until year-end for BII sell down

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2 comment(s). Last comment by apprentice 2013-07-20 11:47

KC Loh

13,701 posts

Posted by KC Loh > 2013-07-20 11:26 | Report Abuse

The way this is titled is a bit misleading. OJK time and again has given maybank extension to sell of its stake to comply with their newly made requirements. They cannot force a loss down the throat of maybank if it cannot find suitable buyers for it 511 rupiah per share equity. Current price is hovering 460-wish I think

apprentice

789 posts

Posted by apprentice > 2013-07-20 11:47 | Report Abuse

Legally the statement is correct. Even though OJK continues to give extension, the latest extension approved this month is until end of 2013.
MBB will then have to appeal again to have it extended another 6 months which of course OJK will grant based on the same grounds.

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