CDC to raise stake in Tamara

CDC to raise stake in Tamara

JAKARTA (JP): Publicly listed Tamara Bank announced yesterday
that its Taiwanese shareholder China Development Corp (CDC) has
agreed to increase its stake in the bank up to the maximum
allowed percentage.

The bank said CDC's plan to increase its shares in Tamara
Bank, which would add its capital to Rp 1 trillion (US$100
million), was aimed at strengthening Tamara's capital structure.

The move is also aimed at fulfilling the government's program
in creating stronger paid-up capital for Indonesian banks, the
bank said.

According to the bank, the plan will be further discussed in
the beginning of February and the whole agreement process is
expected to be completed by the middle of May.

CDC, which has been a shareholder in Tamara Bank since 1995,
currently controls 10 percent of shares in the bank. CDC is a
major investment company in Taiwan, with approximately $2 billion
in capital. (gis)