Regent enters Bank NISP

JAKARTA (JP): Hong Kong-based investment firm Regent Pacific Private Equity has bought Rp 122 billion (US$14.02 million) in zero-coupon mandatory exchangeable notes from major shareholders of publicly listed Bank NISP.

The bank announced on Wednesday the notes, issued by its two founding shareholders PT Suryasono Sentosa and PT Udayawira Utama in July last year, would entitle Regent Pacific to significant share ownership.

"Almost all the proceeds from the notes were used to improve the bank's capital through a rights issue late last year," the bank said.

Bank NISP said its unaudited net profit reached Rp 24.32 billion in 1998, compared to Rp 24.18 billion the previous year.

Regent Pacific Private Equity, listed in Hong Kong and Frankfurt, is a subsidiary of the Regent Pacific Group, with its core business in investment in global emerging markets. (aly)