NISP Shares No Dividends

Sumber :

VIVAnews - PT Bank OCBC NISP Tbk decided that it will not share dividends from the profit it gained in 2008. The company intended to re-invest the fund.

Bank OCBC NISP garnered net profit of Rp 316.9 billion (US$27,06 million), a 27 percent increase compared to last year's Rp 250.1 billion. In addition, total increase in its assets also rose by Rp 5.8 trillion.

According to President Director of OCBC NISP Parwati Surjaudaja, the decision to undo dividend sharing is aimed at meeting the company's long-term target, that is, to be listed as one of the top five of Indonesia's private banks. In addition, the company also requires quite high an investment to bear out infrastructure and support banks' progress.

On the other hand, NISP's annual as well as extraordinary general meeting of shareholders also resulted in the modification of board of directors. NISP Director Kamisidin Wirahadikusumah, who is no longer in office, refuted his re-assignment due to old age. In addition, Tong Lay Kuen also resigned from Director's office.

The resignation caused OCBC NISP to appoint Alan Jenviphakul as director. Jenviphakul has previously worked for Citibank of Thailand, Citibank of New York, US, and Citibank of Indonesia, focusing on treasury. His last office was Managing Director-Country Treasurer and Head of Market.

--

Translated by: Bonardo Maulana Wahono