REPUBLIKA.CO.ID, JAKARTA - An investment company from Mauritus, Weston International Capital Limited is interested to buy shares of Mutiara Bank. The company which bases in Luxembourg has submitted a proposal to PT Danareksa Securities as financial advisor of Mutiara Bank. WICL spokesman said in a press release that they agreed with value of sales worth 6.7 trillion IDR.
"The price has no link to the original value of Mutiara Bank, we decided to submit a proposal and the auction process would be conducted in November 2013," the WICL spokesman said on Tuesday.
The acquisition is in line with the target of Weston to build Islamic microfinance in Southeast Asia by using the former Century Bank as a basis. The company with assets of 2.4 billion USD doubted that new management of Mutiara Bank had completed problem of non-performing loan (NPL) worth five trillion IDR. Instead, Weston assessed the extent problems of capital adequacy ratio (CAR) at Mutiara Bank as significant problem.
Meanwhile, Executive Director of Deposit Insurance Agency (LPS), Mirza Adityaswara said he didn't know about the proposal. Earliers, LPS made a tour package to sell the former Bank Century to Asian countries, such as Vietnam, Korea, Japan and Hong Kong, as well as Middle Eastern countries.
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