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Flash Note – Maybank (ADD, maintain) - Selldown of stake in BII




Affin Hwang Investment Bank Bhd


20 Jun 2013





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Maybank sold 9% in BII Maybank announced yesterday that it has pared down its stake in its Indonesian unit, PT Bank Internasional Indonesia TbK (BII) by 9% from 97.3%. The 5,065.38m shares in the disposal was sold to a third party investor at an undisclosed price. Based on a commercial arrangement entered, Maybank said that the economic exposure resulting from the disposal was being retained and hence, would not result in any material financial impact on the group. Maybank still have a further 8.3% of its stake that is required to be reduced in order to comply with the Jakarta Stock Exchange rules and the group had applied for an extension for the disposal.

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