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Following the recent flood of rights issue from Temasek-linked companies, Temasek's Danamon Bank is also seeking 4 Trillion Rps rights issue to replenish its capital. No guessing who will taking up the bulk of it. Temasek, despite losing S$58 billion, seems to be busy using Spore reserve to bail out its stable of subsidiaries locally and abroad. 
http://www.bloomberg.com/apps/news?pid=20601087&sid=afhObUnvNvX0&refer=home
Bank Danamon Said to Seek 4 Trillion Rupiah in Rights Offering
Feb. 17 (Bloomberg) -- PT Bank Danamon Indonesia, backed by Temasek Holdings Pte and Deutsche Bank AG, plans to raise about 4 trillion rupiah ($336 million) from existing shareholders to replenish capital, two people familiar with the matter said.
The fifth-biggest Indonesian bank may announce details on the rights offer this week, the two people said, asking not to be identified because they aren’t permitted to discuss the matter publicly. Danamon may sell the shares at a discount of at least 45 percent to the last closing price before the announcement, they said.
Danamon would follow the combined $4 billion raised in rights offers by Singapore’s DBS Group Holdings Ltd. and CapitaLand Ltd. in the last two months. Banks in Australia, South Korea, Japan and China are also selling shares or bonds to shore up their finances as economies across the Asia-Pacific region falter.
Temasek, which controls about 58 percent of Danamon, may subscribe to the sale, the people said. Danamon said last week it plans to seek shareholders’ approval for a rights offer on March 20, without giving details.
Danamon’s profit fell 29 percent to 1.5 trillion rupiah last year after it set aside money to cover losses from derivatives transactions, the bank said Jan. 21. The company’s shares have slumped 69 percent in the past year, trimming Danamon’s market value to 11.5 trillion rupiah.
Vera Eve Lim, Danamon’s chief financial officer, and Joseph Luhukai, a vice president director at the bank, didn’t immediately respond to mobile-phone text messages and e-mails, and didn’t answer calls made to their mobile phones. Temasek, in an e-mailed response to questions, declined to comment.
DBS, Capitaland
Citigroup Inc. and Morgan Stanley were hired to arrange the sale. Spokespeople at both banks declined to comment.
DBS, Southeast Asia’s biggest bank, raised S$4 billion ($2.63 billion) from a rights offer last month after a slowdown in Singapore’s economy and rising provisions for losses on credit investments caused the bank’s steepest earnings decline in two years. The offer drew more bids than securities made available to existing holders.
CapitaLand Ltd., Southeast Asia’s largest property developer, last week said it will raise S$1.84 billion by selling stock to existing shareholders, after fourth-quarter profit slumped 88 percent. Both DBS and CapitaLand’s shares were offered at a 45 percent discount.
http://www.bloomberg.com/apps/news?pid=20601087&sid=afhObUnvNvX0&refer=home
Bank Danamon Said to Seek 4 Trillion Rupiah in Rights Offering
Feb. 17 (Bloomberg) -- PT Bank Danamon Indonesia, backed by Temasek Holdings Pte and Deutsche Bank AG, plans to raise about 4 trillion rupiah ($336 million) from existing shareholders to replenish capital, two people familiar with the matter said.
The fifth-biggest Indonesian bank may announce details on the rights offer this week, the two people said, asking not to be identified because they aren’t permitted to discuss the matter publicly. Danamon may sell the shares at a discount of at least 45 percent to the last closing price before the announcement, they said.
Danamon would follow the combined $4 billion raised in rights offers by Singapore’s DBS Group Holdings Ltd. and CapitaLand Ltd. in the last two months. Banks in Australia, South Korea, Japan and China are also selling shares or bonds to shore up their finances as economies across the Asia-Pacific region falter.
Temasek, which controls about 58 percent of Danamon, may subscribe to the sale, the people said. Danamon said last week it plans to seek shareholders’ approval for a rights offer on March 20, without giving details.
Danamon’s profit fell 29 percent to 1.5 trillion rupiah last year after it set aside money to cover losses from derivatives transactions, the bank said Jan. 21. The company’s shares have slumped 69 percent in the past year, trimming Danamon’s market value to 11.5 trillion rupiah.
Vera Eve Lim, Danamon’s chief financial officer, and Joseph Luhukai, a vice president director at the bank, didn’t immediately respond to mobile-phone text messages and e-mails, and didn’t answer calls made to their mobile phones. Temasek, in an e-mailed response to questions, declined to comment.
DBS, Capitaland
Citigroup Inc. and Morgan Stanley were hired to arrange the sale. Spokespeople at both banks declined to comment.
DBS, Southeast Asia’s biggest bank, raised S$4 billion ($2.63 billion) from a rights offer last month after a slowdown in Singapore’s economy and rising provisions for losses on credit investments caused the bank’s steepest earnings decline in two years. The offer drew more bids than securities made available to existing holders.
CapitaLand Ltd., Southeast Asia’s largest property developer, last week said it will raise S$1.84 billion by selling stock to existing shareholders, after fourth-quarter profit slumped 88 percent. Both DBS and CapitaLand’s shares were offered at a 45 percent discount.
