PPA Intends to Sell Off 3% Maybank Stocks

VIVAnews - The Asset Management Company (PPA) aims to sell off the Maybank Indocorp 3 percent share at an appropriate price. Yet, the plan can only be executed after an agreement has been issued by the Finance Minister.

Maybank Indocorp stock is a deposit from the Finance Department that was given to the PPA's management.

"PPA will sell off the share at the right price according to the Finance Minister approval," said the managing director of PPA Boyke Mukijat at the State-Owned Enterprises Ministerial building in Jakarta on Tuesday, April 21.

Mukijat said that Malayan Banking Berhad as the major stock holder of Maybank Indocorp had previously stated their interest to buy PPA's shares. However, in their last letter, the Malaysian company was still expecting the PPA to keep one percent of the shares.

Mukijat stressed that the relatively small ownership of Maybank share has not been giving any significant contribution to the company.

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Translated by: Ariyantri E. Tarman