PT Bank Fama needed an additional US$70m to meet the minimum liquidity requirement for an Indonesian licensed lender. It just so happens that Grab and Singtel paid that amount when you combine the figures. I'm sure they will be able to leverage their existing businesses to prop up PT Bank Fama. They didn't pay that amount for the earnings, they paid it for the license. It's funny how people were knocking IOU for paying $41.3m AUD for a 42% stake in IDSB which has the AG Code license and an already established long term lending business which provides credit processing for multiple banks.
I know which investment I prefer. If anything, the Singtel/Grab acquisition really proves the value of the IOU acquisition in IDSB.
PT Bank Fama needed an additional US$70m to meet the minimum...
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