I agree Ryzie, people are too quick to see the word ‘bank’ and equate it with value, whereas there’s likely lots of banks around the developing world you wouldn’t touch with a barge pole.
From the little I read, it sounded a bit like a rescue package.
It’s also interesting that Grab has positioned this acquisition as an opportunity to go after the underbanked/unbanked in Indonesia, which is something IOU has said a lot about Malaysia too:
It also notes that Bank Fama’s Net Asset Value is 1.04 trillion Indonesia Rupiah which is just USD 72.5M.
Nonetheless, it is deals like this that we should continue to monitor to get a rough comparison/idea for what sort of value is being put on these SEA financial institutions.
Source article is here: https://asia.nikkei.com/Business/Finance/Singapore-s-Grab-Singtel-take-stakes-in-Indonesia-s-Bank-Fama
$1 Club, page-28415
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