JAKARTA (TheInsiderStories) – State owned brokerage firm Mandiri Sekuritas, owned by Bank Mandiri, has set up a fully owned Singapore subsidiary called Mandiri Securities Pte Ltd (Mandiri Securities Singapore). The establishment of the subsidiary is part of the brokerage firms drive to expand its global outreach.
Mandiri Sekuritas obtained Capital Markets Services permit from Monetary Authority of Singapore (MAS) early this year, namely Deal in Securities (Bond & Equities) and Advise on Corporate Finance.
With the establishment of Singapore unit, Mandiri Sekuritas is now becoming the only investment bank of Indonesia to have licensing and capability to engage in Singapura’s capital market, including in issuing bonds in three global currencies, namely US dollar, yen and euro.
Mandiri Securities Singapore has been active in underwriting of various global bonds issues by the Indonesian government. In March this year, Mandiri Securities Singapore performed its mandate well as joint lead manager and bookrunner for the issuance of Indonesia’s Global Sukuk, raising US$3 billion with tenor of 5 and 10 years.
Mandiri Sekuritas Singapore will be headed by Asad Haque as CEO. (*)