PT Bank Mandiri Tbk (BMRI)’s plan to expand to the Philippines, Myanmar and Vietnam will become the new catalyst for its stock movement after the impact of the second quarter performance accounted for by investors. This corporate action would increase contribution from international business towards the company’s revenue.
Rohan Hafas, Corporate Secretary of Bank Mandiri, said the company is preparing a platform to develop the business by way of inorganic overseas, especially in those three ASEAN countries. “We will form a team to explore the potentials and possibilities in the Philippines, Vietnam and Myanmar,” Rohan explained. Bank Mandiri will team up with local partners that are familiar with the market condition in those countries to expand the business.
To date, Bank Mandiri has several branch offices abroad, namely Hong Kong, Singapore, Shanghai, Cayman Islands, Dili and one representative office in Malaysia. As of the end of 2015, BMRI’s assets in its overseas branch offices reached $3 billion with revenue contribution amounting to $100 million.
On Wednesday’s trade (7/27), BMRI’s stock price rose 2.54% to Rp 10,100. This became one of the most active stocks being transacted with volume of 66.95 million shares and transaction value of Rp 679.8 billion. (*)
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