New joint venture bank to be established<\/p>\n
JAKARTA (JP): Shareholders of two companies, PT Tamara Bank and
\nPT Charoen Pokphand Indonesia, approved yesterday plans on the
\nestablishment of joint venture companies to meet increasing
\nmarket demand for their services and products.<\/p>\n
Hendrik Suhardiman, a senior vice president of Tamara Bank,
\nsaid after the bank's annual meeting yesterday that a joint
\nventure bank, to be called Chinatrust Tamara Bank, will be set up
\nwith a total investment of Rp 100 billion (US$44.7 billion).<\/p>\n
He said that the joint venture bank, 85 percent owned by
\nChinatrust Commercial Bank of Taiwan and 15 percent by Tamara
\nBank, is expected to start operation in September.<\/p>\n
He also said that Tamara Bank will open eight branch offices
\nthis year in a number of cities such as Jakarta, Surabaya in East
\nJava, Semarang in Central Java and Padang in West Sumatra.<\/p>\n
The bank's shareholders also approved the distribution of
\ndividends worth Rp 2.88 billion in the form of 72 million shares
\nat the end July, he said.<\/p>\n
The bank's net profit increased to Rp 12.55 billion last year
\nfrom Rp 8.01 billion in 1993, while its assets as of last
\nDecember increased to Rp 1.5 trillion from Rp 1.1 trillion as of
\nthe end of 1993, he said.<\/p>\n
He said that the bank's assets are expected to further
\nincrease to Rp 2 trillion by the end of this year.<\/p>\n
Meanwhile, Yusry Surjadi, vice president of Charoen Pokphand
\nIndonesia, said that the company's shareholders approved its
\nmanagement's proposal on the establishment of a joint venture
\ncompany, to be called PT Centralpertiwi Bratasena, which will
\ndevelop 15,000 shrimp ponds on a total area of 23.900 hectares in
\nLampung, southern Sumatra.<\/p>\n
Charoen Pokphan is a Hong Kong-Indonesian joint venture
\noperating in the manufacture of poultry and shrimp feed.<\/p>\n
Yusri said that the planned joint venture will likely start to
\nproduce about six tons of shrimps in October and export its
\nproduce to Japan and the United States.<\/p>\n
He said that the new company will be 31 percent owned by
\nCharoen Pokphan Indonesia, 10 percent by PT Bratasena Perkasa
\nKencana, 18 percent by Charoen Pokphand Freedmill Public Co. Ltd.
\nof Thailand, seven percent by Charoen Pokphand Group Co. Ltd. of
\nThailand, 10 percent by Everwell Developments Ltd. of Hong Kong
\nand 24 percent by Progressive Enterprises Ltd. of Thailand.(32)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/new-joint-venture-bank-to-be-established-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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