Yuanta Securities Investment Trust Company (Yuanta SITC), a Taiwan-based asset manager, is planning to inject as much as $15m into the Indonesian brokerage AmCapital Indonesia (AMCI), which it agreed to buy last year.
Yuanta SITC president and CEO Julian Liu told publication Asia Asset Management, "Yuanta SITC will benefit from the acquisition; PT AmCapital Indonesia has a local asset management affiliate, PT AMCI Manajeman Investasi Indonesia (AMCI). Yuanta SITC can leverage on its on-the-ground expertise to expand our business in Indonesia."
Go deeper with GlobalData
AMCI is a newly established, small-sized asset manager, which has only launched one fixed-income fund to date: the AmObligasi JIBOR 1 Year PLUS, Liu added.
The acquisition deal was inked in 2014 by Yuanta SITC’s holding group Yuanta Financial Holdings, which offered the firm $6.9m for a 99% stake in the Indonesian company.
Post acquisition, which is expected to be completed in March, Liu will be as a board director at the Indonesian brokerage.
