State-owned Financial Holding’s Asset Almost Surpasses Temasek

State-owned financial holding will have the second largest asset in ASEAN after Temasek, a Singaporean state-owned investment company. The position will strengthen the competitiveness of state-owned financial holding in the era of ASEAN Economic Community.

The value asset of state-owned financial holding that includes Bank Mandiri Tbk (BMRI), Bank Rakyat Indonesia Tbk (BBRI), BNI Tbk (BBNI), Bank Tabungan Negara Tbk (BBTN), Pegadaian, and PNM reached 2.656,79 trillion IDR or US$ 204,37 billion. As for Temasek, its assets are worth US$ 242 billion. Khazanah Bhd, a Malaysian state-owned investment company, has assets of US$ 37,38 billion.

However, if it is positioned as a bank, the value asset of state-owned financial holding is in the fourth place after the three largest banks in Singapore, which are DBS Bank, OCBC Bank, and UOB. This position is better than the previous position as holding, where BMRI’s asset was in the 11th place, BBRI’s in the 12th place, and BBNI’s in the 15th place in ASEAN.

UBS Securities recommended HOLD for BMRI with a target price of 12.750 IDR, BUY for BBRI with a target price 13.900 IDR, and BUY for BBNI with a target price of 6.900 IDR. RHB Securities recommended BUY for BBTN with a target price of 2.420 IDR. (*)

The Ratio of ASEAN State-owned Financial Holding Asset