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November 14, 2005 -

BNP Paribas advises two transactions in Malaysia

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Khazanah acquires Bank Lippo of Indonesia & Scomi Marine acquires USD 340 million regional business.

  • Khazanah Nasional Berhad (“Khazanah”) made its maiden financial institution acquisition outside of Malaysia by acquiring a 52.05% equity stake in PT Bank Lippo of Indonesia from Swissasia Global for approximately USD313 million.

    Bank Lippo is the 1st privately-held bank to be established in Indonesia and ranks as Indonesia’s 9th largest commercial bank in terms of assets. Khazanah is the wholly owned investment holding vehicle of the Government of Malaysia; and is also the Malaysian state agency responsible for strategic cross border acquisitions.

    This transaction is core to Khazanah’s investment strategy in Indonesia. The acquisition of Bank Lippo represents the first foreign acquisition of a bank by Khazanah.

  • Scomi Marine Bhd (“Scomi Marine”) of Malaysia agreed to acquire the marine logistics business and offshore support services from Chuan Hup Holdings Ltd of Singapore for a total purchase consideration of approximately USD340 million.

    The acquisition has transformed Scomi Marine into the largest tug and barge company in South East Asia by deadweight ton and the largest coal transportation provider in Indonesia by volume. In addition, the acquisition provided Scomi Marine with access to 147 marine vessels and a strong network of clients throughout the South East Asian energy and mining industries.

    Scomi Group Berhad’s strategic investment in Scomi Marine was part of its strategy to complement its offshore support services with access to a fleet of vessels deployable in Malaysia and elsewhere in the region.

    BNP Paribas acted on these transactions as exclusive financial advisor to Bank Lippo and to Scomi Marine.