Shareholders of PT Bank Mayapada Internasional Tbk (IDX: MAYA) plans to inject new capital to strengthen the local lender' capital adequacy ratio (CAR), it announced on Tuesday (06/09) - Photo by Mayapada Group

JAKARTA (TheInsiderStories) – Shareholders of PT Bank Mayapada Internasional Tbk (IDX: MAYA) plans to inject new capital to strengthen the local lender’ capital adequacy ratio (CAR), it announced on Tuesday (06/09). The bank also plans to releases up to 2.28 billion new shares or 25 percent of the paid-up capital through rights issue scheme.

The planned its expecting to get approval from their shareholders on July 16. With the capital injection its the CAR could rise to 20 percent from its current position at 18 percent.

The commissioner at the Financial Services Authority (FSA), Heru Kristiyana rated, Bank Mayapada is still on the track to fulfill the capital requirement after major investor, Dato Sri Tahir, pledged some of the Group fund in the bank. Tahir had made an additional capital contribution of Rp3.75 trillion (US$267.87 million) cash and assets.

With the fresh funding, the capital of the lender rose to Rp20.3 trillion. Earlier, Tahir has injected capital Rp1.00 trillion in 2016, same amount in the 2017, then worth of Rp2.00 trillion in 2018, and another Rp1.00 trillion in 2019.

The placement of funds could be converted into a capital deposit of Rp252.08 billion. Beyond that, Bank Mayapada will get an additional capital of Rp750 billion, bringing the total capital injected to Rp4.5 trillion from rights issue. Tahir also have plans to attract strategic partner in the bank.

“I have a big commitment to Bank Mayapada, and because of that I continue to deposit capital,” said Tahir recently.

Currently the shareholders of the bank are PT Mayapada Karunia with ownership of 26.42 percent, JPMCB-Cathay Life Insurance Co. Ltd. and other shareholders with ownership of 40 percent, and the rest hold by public. The bank was formed on Sept. 7, 1989 in Jakarta and began operating commercially on March 16, 1990.

Since March 23, 1990 the company officially became a commercial bank, followed by the acquisition of permits from Bank Indonesia as a foreign exchange bank in 1993. In 1995 the Bank changed its name to Bank Mayapada Internasional and in 1997 took the initiative to go public and until now.

US$1=Rp14,000

Written by Staff Editor, Email: theinsiderstories@gmail.com