Jamsostek to acquire reinsurance company
PT Jamsostek to spend Rp200 billion to enter the ownership of shares of PT Reinsurance International Indonesia (ReIndo) as part of the development of corporate investment.
President Director Jamsostek Hotbonar Sinaga said equity participation in ReIndo it was one of the company's plan to support the policy synergies among state-owned enterprises (SOEs).
"Worth around Rp200 billion but did not know what percentage, being calculated by our internal," he said through a short message service to Bisnis Indonesia last night.
ReIndo is one of the four reinsurance companies in Indonesia. Three other companies namely PT Indonesia Tbk Airlines Reinsurance (Marein), PT Tugu Reinsurance Indonesia (Tugu Re), and PT Indonesian National Reinsurance (NasRe).
ReIndo, as of the end of 2008 had equity of Rp224,78 billion and asset Rp630,22 billion. A final 2009 financial report has not officially issued by the company.
Director of Investment Jamsostek Elvyn G. Massassya tells the reinsurance company to be purchased that will be part of Social Security Investment Corporation (JIM), which is a joint venture with The Islamic Corporation for the Development of the Private Sector (ICD).
He mentioned the purchase funds will be taken from investment funds which will be allocated Rp809 this year. However, Elvyn mentions two reinsurance to be purchased.
"The two reinsurance companies are still in due diligence stage. The plan of purchases reinsurance companies have been approved by the government, which in this case as a shareholder, "he said yesterday.
According Elvyn, purchasing reinsurance company will be done in conjunction with the acquisition of several banks. JIM Social Security will develop from this year until 2012. But he did not mention the details of the funds will be used to purchase the company.
Last week, Hotbonar Jamsostek said, investment target range Rp90 trillion this year, in which the investment shares increased from 16.5% in 2009 to 20% this year.
"The portion of investment bonds closer to 50%, 30% in deposit and direct investments worth Rp8,09 billion," said Hotbonar.
Together ICD, Jamsostek will also acquire a majority stake in PT Bank Syariah Bukopin. State-owned insurance is intended to increase ownership of 9% to more than 50%.
Jamsostek is also interested in buying 20% -30% stake in sharia division of PT Bank Negara Indonesia (BNI) Tbk. The acquisition will be conducted in second half 2010.
At the end of December 2009, Jamsostek buy shares of PT Bank Tabungan Negara (BTN) Tbk valued at Rp250 billion through initial public offering (IPO). Jamsostek over 312.5 million shares, equivalent to 3.58% ownership in BTN.
Jamsostek worth Rp657 billion invested in bonds of PT Perusahaan Listrik Negara (PLN) of the total letter Rp3 trillion worth of debt. Debt securities issued by PLN, the PLN bonds worth Rp2,70 trillion and ijara sukuk PLN for Rp297 billion.
Jamsostek also plans to buy shares of PT Pembangunan Perumahan worth Rp100 billion to Rp200 billion.
President Director Jamsostek Hotbonar Sinaga said equity participation in ReIndo it was one of the company's plan to support the policy synergies among state-owned enterprises (SOEs).
"Worth around Rp200 billion but did not know what percentage, being calculated by our internal," he said through a short message service to Bisnis Indonesia last night.
ReIndo is one of the four reinsurance companies in Indonesia. Three other companies namely PT Indonesia Tbk Airlines Reinsurance (Marein), PT Tugu Reinsurance Indonesia (Tugu Re), and PT Indonesian National Reinsurance (NasRe).
ReIndo, as of the end of 2008 had equity of Rp224,78 billion and asset Rp630,22 billion. A final 2009 financial report has not officially issued by the company.
Director of Investment Jamsostek Elvyn G. Massassya tells the reinsurance company to be purchased that will be part of Social Security Investment Corporation (JIM), which is a joint venture with The Islamic Corporation for the Development of the Private Sector (ICD).
He mentioned the purchase funds will be taken from investment funds which will be allocated Rp809 this year. However, Elvyn mentions two reinsurance to be purchased.
"The two reinsurance companies are still in due diligence stage. The plan of purchases reinsurance companies have been approved by the government, which in this case as a shareholder, "he said yesterday.
According Elvyn, purchasing reinsurance company will be done in conjunction with the acquisition of several banks. JIM Social Security will develop from this year until 2012. But he did not mention the details of the funds will be used to purchase the company.
Last week, Hotbonar Jamsostek said, investment target range Rp90 trillion this year, in which the investment shares increased from 16.5% in 2009 to 20% this year.
"The portion of investment bonds closer to 50%, 30% in deposit and direct investments worth Rp8,09 billion," said Hotbonar.
Together ICD, Jamsostek will also acquire a majority stake in PT Bank Syariah Bukopin. State-owned insurance is intended to increase ownership of 9% to more than 50%.
Jamsostek is also interested in buying 20% -30% stake in sharia division of PT Bank Negara Indonesia (BNI) Tbk. The acquisition will be conducted in second half 2010.
At the end of December 2009, Jamsostek buy shares of PT Bank Tabungan Negara (BTN) Tbk valued at Rp250 billion through initial public offering (IPO). Jamsostek over 312.5 million shares, equivalent to 3.58% ownership in BTN.
Jamsostek worth Rp657 billion invested in bonds of PT Perusahaan Listrik Negara (PLN) of the total letter Rp3 trillion worth of debt. Debt securities issued by PLN, the PLN bonds worth Rp2,70 trillion and ijara sukuk PLN for Rp297 billion.
Jamsostek also plans to buy shares of PT Pembangunan Perumahan worth Rp100 billion to Rp200 billion.
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