Cempaka Business and Economy: DBS to Buy Stake in Indonesian Bank Danamon for $4.9b

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Monday, April 02, 2012

DBS to Buy Stake in Indonesian Bank Danamon for $4.9b

Jakarta Globe, April 02, 2012

A security officer stands at the entrance of a branch of Bank Danamon in
Jakarta, in this March 15, 2011 file picture. DBS Group Holdings, Southeast
Asia's biggest bank, halted trading of its shares on Monday ahead of an
announcement that sources said will confirm its bid for the controlling stake
in Indonesia's Bank Danamon. The stake is owned by the bank holding arm
of Singapore state investor Temasek Holdings. (Reuters Photo)

Related articles

DBS Group Holdings, Southeast Asia’s biggest bank, will buy control of Bank Danamon Indonesia for about $4.9 billion to tap a market growing at the fastest pace since before the Asian financial crisis.

DBS will pay Temasek Holdings for Rp 45.2 trillion ($4.9 billion) for its 67 percent stake and plans a bid to buy the rest of the lender, the Singapore-based bank said in a statement to the Singapore stock exchange.

DBS is seeking to tap Danamon’s 3,000-branch network, Indonesia’s second largest, serving 6 million customers. The country’s economy, Southeast Asia’s biggest, grew 6.46 percent last year, the fastest pace since before the 1997-98 Asian financial crisis, as rising investment and domestic spending countered a slowdown in export demand. The target for 2012 is 6.5 percent.

The deal will allow DBS “to expand in an important high- growth emerging market,” Jonathan Koh, an analyst at UOB Kay Hian in Singapore, wrote in a note. DBS could “add value by building up Bank Danamon’s corporate banking, investment banking and treasury businesses,” he said.

DBS, whose controlling shareholder is Temasek, said it will issue 439 million new shares at 14.07 Singaporean dollars apiece for the purchase. DBS shares, suspended from trading for the announcement, last traded at 14.18 Singaporean dollars on March 30. The transaction is the largest banking takeover in Southeast Asia since June 2001, according to data compiled by Bloomberg.

Takeover Premium

DBS bank will offer to buy the remaining shares at 7,000 rupiah each, a 52 percent premium from Danamon’s closing price of 4,600 rupiah on March 30. That amounts to 2.62 times Danamon’s book value, higher than the median of 2.2 for deals worth more than $1 billion in the global banking industry over the past five years, according to data compiled by Bloomberg.

The Singapore bank said the acquisition would cost about 66.4 trillion rupiah if all Danamon shareholders accepted the offer, which it also valued at 2.6 times book value. DBS will pay the remaining shareholders in cash, estimated at 21.2 trillion rupiah, from its own funds and debt, it said.

The transaction would be DBS’s biggest purchase of a majority stake in a company since its takeover of Dao Heng Bank Group Ltd. in Hong Kong announced April 2001. In that deal it paid 3.33 times book value, according to Bloomberg data.

‘Exciting Asian Market’

“Indonesia is an exciting Asian market and we believe that we will be able to contribute towards the growth of the Indonesian banking sector, especially in areas such as infrastructure financing, project financing, trade finance and syariah banking,” DBS Chief Executive Officer Piyush Gupta said in the statement. “With Danamon, we will be able to significantly diversify our revenue mix.”

DBS said in a slide presentation today that its 2011 revenue from South and Southeast Asia would have increased to 27 percent from 7 percent with Danamon, while its reliance on Singapore would decline to 49 percent from 62 percent.

Temasek’s banking unit Fullerton Financial Holdings, which holds the stake in Danamon, Indonesia’s sixth-biggest bank by assets, said in a March 30 statement it received an offer for its shares, without disclosing the bidder.

In June 2003, Temasek and Deutsche Bank AG, Germany’s biggest bank, through Asia Financial Indonesia, paid 3.08 trillion rupiah for a 51 percent stake in Danamon. Asia Financial now owns 67 percent of the bank, according to data compiled by Bloomberg.

Temasek managed 193 billion Singaporean dollars ($154 billion) in the year ended March 2011, according to its Web site. Its unit Fullerton Financial said it appointed Bank of America Corp.’s unit Merrill Lynch and UBS AG as advisers for the offer. It also obtained a waiver from having to make a takeover bid for DBS.

Asian investments made up 77 percent of Temasek’s underlying portfolio in 2011, the Web site showed. The percentage of financial services in Temasek’s portfolio rose to 36 percent from 35 percent as of March 2011, according to the company.

Bloomberg

Cempaka Business and Economy

Pages

Monday, April 02, 2012

DBS to Buy Stake in Indonesian Bank Danamon for $4.9b

No comments:

The Jakarta Post: Review/Outlook 2010