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Sunday, April 15, 2012

Transasia Securities: Profile and interest

Transasia Securities: Profile and interest

PT Transasia Securities’ acquisition by OCBC Bank is interisting. Not only does it show us more about the invasion of regional financial institution into Indonesian soil, but also the relation to other entities.

Based on Transasia Securities official website, the company is a member of Indonesia Stock Exchange incorporated on July 7th 1990, originally named PT Transpacific Securindo.

The name changed into Transasia Securities by Deed Number 19 on August 13th 2010.

Led by Bibiana Halim, the company was granted permit to become a securities company on September 11th 1990 through Ministry of Finance Decisions No.1086/KMK.013/1990.

On October 12th 1993, the company obtained both a securities broker permit and an underwriter permit from Capital Market Supervisory Agency that was stated on Chief of Bapepam Decisions No.KEP-30/PM/1993 and No.KEP-31/PM/1993.

An investment management permit was also obtained by the company on April 27th 1994, through Chief of Bapepam Decisions No.Kep-04/PM-MI/1994.

The company's paid-in capital was worth IDR82 billion, or equal to S$11.2 million. PT Farnella Mandiri Utama owned 99% of the company and the rest is owned by Ny Dr Fanny Brata Djaja.

The company also obtained permit from Indonesia Stock Exchange to give online trading service, named Transasia Online Trading System (TOS) to its investors on April 7th 2011.

But in the Bapepam-LK data, especially in the investment management database, the holder of 1% of Transasia Securities's stake is Suganda Setiadi Kurnia, not Fanny Brata Djaja.

Rumour has it that previously, the company already proffered its investment management permit to potential buyers.

Assuming the acquisition is completed, the relation between the OCBC Bank, PT Bank OCBC NISP Tbk, PT NISP Sekuritas, and Transasia Securities will be an interesting one.

NISP Sekuritas is known as a subsidiary of OCBC NISP, especially to former owners, whoever they are.

However, the early stages of acquisition show us that the connection between OCBC NISP and NISP Sekuritas is not close enough, either in a good way or a bad one.

Recently, NISP Sekuritas is well known for its investment banking business expansion in the capital market. This was showed by their long list of underwriting emissions last year and 2012.

The company strives for quality and this is shown by its recruitment of Shiantaraga, formerly the investment bank director of a well known securities company, PT Indo Premier Securities.

The latest issue from NISP Sekuritas was the selling of a majority stake in PT NISP Asset Management, the investment management division that later became a single subsidiary this January.

Right now, the securities company has a 95% stake in NISP Asset Management and the rest belongs to Sigit Pratama Wiryadi, the president director of NISP Sekuritas.

On February 9th, South Korea’s Mirae Asset Global Investment Co announced the acquiring of a 70% stake in NISP Asset Management for $24.5 millions. Mirae Asset Group, founded by Hyeon Joo Park, claimed to be the pioneer of retail mutual fund in South Korea back in 1998.

The buyer is Mirae Asset Global Investment Co from South Korea, which acquire 70% stake for $24.5 million, which announced on February 9th. Mirae Asset Group, founded by Hyeon Joo Park, claimed as the pioneer of retail mutual fund in South Korea back in 1998.



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