JAKARTA (Yosefardi) – Sumitomo Mitsui Banking Corporation (SMBC) has installed 2 commissioners at PT Bank Tabungan Pensiunan Nasional Tbk (BTPN). SMBC is now controlling 40% BTPN shares.
That 2 appointed commissioners are Chow Ying Hoong and Hiroshi Higuma, replacing Ranvir Dewan and Sunata Tjiterosampurno.
Chow Ying Hoong is now Director and Deputy Head of Asia Pacific Division at SMBC. While Hiroshi Higuma is Joint General Manager of Emerging Markets Business Division at SMBC.
BPTN’s shareholder maintain Jerry Ng as President Director of BTPN and Anika Faisal as director. Both also serve as the independent directors.
Jerry Ng said BTPN will focus its loan distribution to pensioners and micro-enterprises segment.
The management change and focus of funding are interesting issues because BPTN shares prices is in correction trend since SMCB took control in March 14, 2014.
At 3.20 pm Jakarta time, BTPN fell 1.23% to Rp4000 per share. The stock reached Rp4930 in March 17, 2014. Compared to today’s price, it had fallen 18.8%.