Jamsostek sees another bank to acquire

Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 30 Desember 2010  |  05:04 WIB

JAKARTA: After failing to acquire PT Bank Bukopin Tbk, PT Jaminan Sosial Tenaga Kerja (Jamsostek) begins to eye on another bank to be explored.

Investment Director of Jamsostek Elvyn G. Masasya said the company is now looking for another bank to become a strategic partnership since Bukopin prefer to choose CIMB Securities Indonesia as a standby buyer in the previous corporate action."Instead, we will look for another bank to acquire. The schema is a fully business synergies. We will do that in 2011," he said today.According to Elvyn, the process to search for another bank will be done after Jamsostek Investment Corporation, a joint venture between the company with the Islamic Corporation for the Development of the Private Sector (ICD) has been formed.In Jamsostek Investment Corporation, there is a business unit focused on banking industry. As being planned, this unit will implement the strategic alliance plans with other banks."Whether it is private or state-owned bank, we can not mention it now. Currently everything is still prepared, "said Elvyn.Previously, Jamsostek has set aside IDR500 billion to absorb new shares of Bukopin, intended to be a standby buyer. But this plan foundered, after CIMB Securities designated to be the standby buyer.Until the end of this year, Jamsosteks total funds under management were IDR98 trillion, with return on investment of IDR10.7 trillion. Of that amount, the state-owned company pocketed net income of IDR1.3 trillion.(t03/wiw)

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