JAKARTA: PT Bank Bukopin Tbk is ready to acquire PT Tugu Kresna Pratama following Tugu Kresnas strengthening capital plan to be IDR150 billion in this year.President Director of Tugu Kresna Pratama Yasril Y. Rasyid said that capital injection from strategic partner, a bank which has no insurance business, hopefully can be realized this year.There is a bank which has a desire to become investor and strategic partner. We hope the plan can be soon realized to increase our capital to reach IDR150 billion, yesterday.An executive who is close to this plan said that prospective investor of Tugu Kresna is Bank Bukopin. Bank Bukopin will become strategic partner of Tugu Kresna. Now, it is still under coordinating process.When being confirmed, Finance Director of PT Bank Bukopin Tbk Tri Joko Prihanto did not answer the question about the plan to require Tugu Kresna.Bank Bukopin has already held rights issue and successfully secured IDR1.06 trillion, thus it jacked up the capital adequacy ratio (CAR) of company.However, Yasril did not deny the acquisition plan of Bukopin.Furthermore, Yusril said the companys capital is now standing at IDR65 billion and expectantly it may increase IDR150 billion by inviting banking investors to join with.The capital strengthening is related to the companys plan which expecting to optimally develop power plant insurance business.Although our capacity is relatively small, but we focus on power plant insurance business and has acquired 60% to 70% of market share. We become the leader in this business, he said.Yasril said the premium revenue of the company in this year is predicted to grow 35% to IDR320 billion compared with IDR236 billion last year.Property insurance dominated the business composition of the company with 65%, including power plant insurance, in 2010.As he continued, engineering business contributed about 20% to the companys business, followed by power plant construction, shipping with 12%, surety bond with 10% and the remaining was filled up by other businesses.The company performance in 2011 is targeted to secure profits as much as IDR9.5 billion or grow 90% compared to last year position of IDR5 billion, following the plan to increase investment and risk management.Investment managed funds in 2011 is set to grow 75% to reach IDR70 billion from IDR40 billion in last year, meanwhile underwriting revenue is predicted to increase by 25% to IDR45 billion from IDR36 billion in 2010.We will be selective to receive the request of risk closure in this year. We are working to avoid unprofitable risk with low tariff. We will be careful in doing the business, he said.Yasril said the company also set asset growth of 30% to reach IDR175 billion this year compared with IDR154 billion in 2010.Power plantYasril said the capital increase is intended to develop company business in power plant regarding the mega project of the government to provide 10,000 MW of electricity power.Tugu Kresna Pratama, a subsidiary of PT Perusahaan Listrik Negara (PLN), is now a leader of power plant insurer in Indonesia. The company also has strategic partnership with constructor which engaged in electricity sector.Chairman of Indonesian General Insurance Association (AAUI) Kornelis Simanjuntak said if the construction project of a 10,000 MW power plant is realized in this year then automatically portfolio potion of power plant insurance will increase. (wiw/t03)

---

Artikel Terkait

Berita Lainnya

Berita Terbaru