Golkar Party lawmaker Lili Asdjudiredja has called on the House of Representatives to urge Bank Indonesia and the government to prevent Singaporean DBS Bank from acquiring 99 percent of Bank Danamon’s shares as it would create a banking monopoly.
Both banks are owned by Temasek Holdings, the Singaporean sovereign wealth fund fully controlled by the island-city government.
“Even if the deal on Danamon’s acquisition has already been made, it must be annulled because it will affect Indonesia’s banking sector and Danamon’s domestic priority customers,” he said. Full story
