Bank Andara Changes Its Name to Bank Oke Indonesia

PT Bank Andara was officially renamed PT Bank Oke Indonesia, according to the company's announcement in Bisnis Indonesia, the largest business news paper in Indonesia that release today. Last year, a South Korean lender APRO Financial Co. Ltd has acquire a 40% stake in Bank Andara. As qouted by jakartapost.com, as of Dec 2012, the major shareholder in Bank Andara, at 22%, was the US aid agency Mercy Corps.

Thai bank company Acquires 9.99% Shares of Bank Maspion

Today, PT Bank Maspion Indonesia Tbk (BMAS), a banking company under Maspion Group sold 443,901,808 or 9.99% of its shares to Kasikornbank, a Thailand Banking Company with total assets of 2.44 trillion Baht (Rp 981 trillion). Unfortunately the value of the transaction is not disclosed.

The Player of Cigarette Industry in Indonesia: Japan Tobacco Inc.

Source image:http://www.gettyimages.ch

In this week, Japan Tobacco Inc. (JT Group), the largest cigarette company in Japan has signed an agreement to purchase 100% of shares of PT Karyadibya Mahardika (KDM) and its distributor, PT Surya Mustika Nusantara (SMN) for US$ 1 billion (include net debt). On his offical statment, the transaction is expected to be completed in the fourth quarter this year.