Media & Downloads
Press Releases

6 October 2005


Santubong Investments BV. (“Santubong”), a wholly-owned subsidiary of Khazanah Nasional Berhad, is pleased to announce the completion of its proposed acquisition of a 52.05% equity stake in PT Bank Lippo Tbk (“LB”) from Swissasia Global for approximately IDR3.30 trillion. WIth 52.05% stake, Santubong is now the new controlling shareholder of LB.

The purchase consideration represents a price-to-book multiple of 2.6x based on the audited accounts of LB as at 30 June 2005. Santubong has obtained all regulatory approvals in Malaysia and Indonesia, including Bank of Indonesia’s Fit and Proper Test on 27 September 2005.

Four new commissioners and three new directors were appointed and approved by the Shareholders in the Extraordinary General Shareholders meeting in August, 2005. The key position of President Commissioner in the Board of Commissioners will be hled by Mohd Ali Dewal, a Malaysian, a banker and professional with over 30 years of experience in the field. Their appointments are subject to approval by Bank Indonesia.

Pursuant to the completion and in accordance with applicable Indonesian Capital Market’s rules and regulations, Santubong will be making a Tender Offer for the remaining shares in LB it does not own.

Other Press Releases
15 May 2024

Consortium led by Khazanah and EPF announces condi...

Read more  

11 March 2024

Khazanah records RM5.9 billion profit for 2023, so...

Read more  

9 March 2024

Khazanah launches #BerbudiBersama initiative to ce...

Read more  

6 March 2024

Khazanah announces new Chief Investment Officer...

Read more  

3 January 2024

Khazanah Nasional Berhad and CGC Digital announce ...

Read more  

7 November 2023

Khazanah Impact Innovation Challenge 2023 unveils ...

Read more  

13 October 2023

Statement by Dato’ Amirul Feisal Wan Zahir, Mana...

Read more  

10 October 2023

Khazanah’s 15-year partnership with GTI solidifi...

Read more  

5 October 2023

CDP Group and Khazanah Nasional Berhad signs MoU, ...

Read more  

12 September 2023

Khazanah and Khazanah Research Institute, in colla...

Read more