Stanchart & Astra Holds Majority of Permata’s Shares
Bisnis Indonesia, page B2, 2006-09-06
The Standard Chartered Consortium and PT Astra International Tbk holds 89.1 percent of PT Bank Permata Tbk after taking 25.9 percent of the bank’s shares at Rp875 per not, 10 percent premium from its closing value on Monday. The consortium bought PT Bank Permata’s shares through a divestment program held by PT Perusahaan Pengelola Aset (PPA). With that purchase, PPA earned fresh funds in the amount of Rp1.75 trillion. The divestment of 5.5 percent the shares of PT Bank Internasional Indonesia Tbk and the release of a number of property assets will be held by PPA soon. There is still a leftover of 0.26 percent of government shares in Bank Permata, which has been allocated to execute a rights certificate, which will be due in 2008. The lack in deposit amounting to Rp350 billion will be fulfilled from the sales of property assets and BII’s share divestment of 5.3 percent. At the present, PPA’s shares in a number of banks entail BII amounting to 5.50 percent, PT Bank Pan Indonesia Tbk 0.002 percent, PT Bank Lippo Tbk 0.0012 percent, PT Bank Tabungan Pensiunan Nasional 28.40 percent and PT Bank Mayabank Indocorp 6.10 percent.

Stanchart and UOB Fund Tuban Project
Bisnis Indonesia, page B8, 2005-02-01
Standard Chartered Bank and United Overseas Bank (UOB) will co-operate with two oil companies, Beyond Petroleum and Vitol Singapore, to fund the US$ 105 million Tuban Project. The US$ 105 million fund will be used to complete the US$ 400 million extra credit investment from the Japanese consortium. The loan will gradually liquefy until the project is complete. The Tuban petrochemical project is projected to produce 1.5 million tons of paraxylene, which is the basic material for purified therepthalic acid (PTA), per year.