BCA test deadline set for Monday<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Bank Indonesia said that bidders for Bank Central Asia (BCA)
\nmust complete all required documents for the central bank's fit
\nand proper test no later than Monday, Jan. 28, the same date on
\nwhich bidders must submit their final bids.<\/p>\n
Bank Indonesia senior deputy governor Anwar Nasution said on
\nFriday he expected the central bank to begin its fit and proper
\ntest on the bidders by next Monday at the latest.<\/p>\n
\"There are only three days left. We expect that by Jan. 28
\n(the documents) will have arrived,\" Anwar said as quoted by
\ndetik.com.<\/p>\n
Bidders who failed the test would no longer be eligible to
\ntake the 51 percent stake in BCA currently being sold by the
\nIndonesian Bank Restructuring Agency (IBRA).<\/p>\n
Monday will also be the deadline for bidders to submit their
\nfinal bids, after which IBRA will announce the winner.<\/p>\n
Bank Indonesia has been postponing holding its fit and proper
\ntests as some bidders had submitted incomplete documents, while
\nsome others were reportedly still on the lookout for bidding
\npartners.<\/p>\n
According to Anwar, several bidders are already being tested,
\nas they had completed their documents in advance.<\/p>\n
But with some others lagging behind, IBRA may have to delay
\nthe announcement of the winner if it names a latecomer for the
\nfit and proper test.<\/p>\n
At present nine bidders have lined up to grab a majority stake
\nin BCA, once the largest private retail bank in the country.<\/p>\n
A consortium of the local Setdco Group, Malaysia's Allianz
\nBank and the Malaysian Plantation Group is said to be looking for
\na leading bidder after Malaysian Plantation Group resigned from
\nthe position late last year. It is not clear whether the
\nconsortium has found a replacement.<\/p>\n
BCA's strongest candidate, the British based Standard
\nChartered Bank Plc., had said it was looking for a bidding
\npartner less than three weeks before Monday's final bid deadline.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bca-test-deadline-set-for-monday-1447893297",
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"sponsor": "Okusi Associates",
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