MBf to buy Indonesian firm

Thu, 10 Oct 1996 | Source: REUTERS

KUALA LUMPUR (Reuter): Malaysia's MBf Capital Bhd said it had agreed to acquire a 51 percent stake in an Indonesian finance company for Rp 9.18 billion (around US$3.8 million).

MBf Capital said in a statement late on Tuesday that the stake in PT Sejahtera MBf Multi-Finance would be acquired from PT Investindo Nusa Permata.

It said the acquisition would complement the company's existing business activities as well as expand its financial services such as stockbroking and insurance into Indonesia.

PT Sejahtera was recently granted a multi-finance license which enables the company to expand its financial services to cover credit card issue, factoring and consumer financing.

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