INDONESIA - REGULATIONS - Indonesia's new bank rules may not hit Maybank, CIMB

www.btimes.com.my - KUALA LUMPUR:Indonesia's central bank has issued new rules limiting single ownership in domestic banks at 40 per cent but allows exemptions that could let Malaysia's top two lenders hold on to their controlling stakes in banks there. Bank Indonesia, in a statement on Wednesday, said public-listed financial institutions will be allowed to keep their current ownership structures in Indonesian banks, provided they maintain high levels of corporate governance and financial health, including a tier-1 capital ratio of over six per cent.

From December 2013, those that see their corporate governance and financial health ratings fall to unacceptable levels for three consecutive reporting periods will have to sell their stakes down to the new limit.  (source)

INDONESIA - REGULATIONS - Maybank, CIMB can breathe a sigh of relief

www.btimes.com.my - CLOSE CALL: Indonesia’s 40pc single ownership restriction to affect only new investors
IT looks like the country's top two banks, Malayan Banking Bhd (Maybank) and CIMB Group, can heave a sigh of relief as they won't be subject to Indonesia's proposed new rules on bank ownership.

Reuters reported late yesterday that the Indonesian central bank planned to limit single ownership in its banks to 40 per cent, but only for new investments.

"This new regulation will only hold for new initiatives, new investments... there will not be a retroactive regulation," Halim Alamsyah, the central bank deputy governor responsible for banking supervision, told analysts on a conference call, the news wire said. (source)

INDONESIA - BANKING - RHB Bank-Mestika Deal Extended Further to June 2012

www.theindonesiatoday.com - KUALA LUMPUR, Indonesia Today - RHB Bank Berhad and PT Mestika Benua Mas agreed to extend the period to satisfy or waive the conditions precedent of the acquisition of Bank Mestika Dharma to June 30, 2012.

Both parties had earlier agreed to further extend the period to satisfy or waive the conditions precedent of the conditional sale and purchase agreement of Bank Mestika Dharma from December 2011 to February 29, 2012. (source)

INDONESIA - BANKING - Jakarta stake cap will affect Malaysian banks

KUALA LUMPUR: A possible move by the Indonesian central bank to cap foreign ownership in banks would affect CIMB Group Holdings Bhd more than Malayan Banking Bhd (Maybank), says an ECM Libra Investment Research analyst yesterday.

 

Current rules in Indonesia make it possible for foreigners to hold up to a 99.9 per cent stake in banks. Those rules, however, are being reviewed. (source)