Baring Indonesia resumes trading<\/p>\n
JAKARTA (JP): PT Baring Securities Indonesia (BSI), the local
\narm of the bankrupt British merchant bank Barings, resumed
\ntrading on the Jakarta Stock Exchange yesterday after a week's
\ndelay.<\/p>\n
\"It is business as usual for us,\" BSI president John Marshall
\ntold reporters during a press conference yesterday.<\/p>\n
The Capital Market Supervisory Board (Bapepam) gave its
\napproval for BSI -- which withdrew from trading voluntarily for a
\ntwo week period after its parent company collapsed due to
\nderivatives trading losses in Singapore -- to resume trading
\nshortly after trading started yesterday morning.<\/p>\n
Marshall said that Bapepam's approval indicated that the
\nIndonesian authorities are satisfied with the new ownership of
\nthe securities firm following the billion dollar acquisition of
\nBarings by the ING Group of the Netherlands last week.<\/p>\n
Marshall, who was accompanied by ING executives, said that the
\nING's support will allow BSI to \"have even more to offer in the
\nfuture.\"<\/p>\n
In the meantime, Cees Maas, an ING executive boardmember, said
\nthat BSI will maintain its current management team.<\/p>\n
Maas also confirmed that ING's holding in BSI will not overlap
\nwith ING's existing stake in PT ING Bank since the two are
\ninvolved in complimentary activities.(hdj)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/baring-indonesia-resumes-trading-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}