Yudhoyono Hopes DBS/Danamon Deal Resolved Soon

A woman walks past a Bank Danamon Indonesia automated teller machine (ATM) in Jakarta on April 10, 2012. DBS Group Holdings is seeking to acquire 99 percent of Bank Danamon in a Rp 66.4 trillion deal that is awaiting regulatory approval. (Bloomberg Photo/Dimas Ardian)

A woman walks past a Bank Danamon Indonesia automated teller machine (ATM) in Jakarta on April 10, 2012. DBS Group Holdings is seeking to acquire 99 percent of Bank Danamon in a Rp 66.4 trillion deal that is awaiting regulatory approval. (Bloomberg Photo/Dimas Ardian)

Indonesian President Susilo Bambang Yudhoyono said he hoped the long-delayed bid by Singapore’s DBS Group Holdings for Bank Danamon can be resolved in the “very short term.”

Indonesia’s central bank, the final decider on the deal, said last week the year-old DBS bid to buy the Indonesian bank from Singapore state investor Temasek Holdings may get the go-ahead in May but that there were regulatory issues to resolve.

“I hope it will move forward,” Yudhoyono told a Thomson Reuters Newsmaker event in Singapore on Tuesday. But he added it must have benefits for all parties involved.

The $7.2 billion deal has been stuck, with Bank Indonesia capping ownership stakes in local banks and politicians calling for the Monetary Authority of Singapore (MAS) to grant greater access for Indonesian banks in Singapore in return.


Reuters

  • OOOPS

    yup its been almost a years since the near $1 million cash deposit … must be getting sweaty palms

    • Duncan

      itchy palms perhaps

  • Duncan

    Serious question

    When receiving a ‘gift’, token of ‘gratitude’ in monetary terms – ie an envelope stuffed with cash. Which hand should I take it with?