Shuaa seals deal with Indonesian brokerage
Dubai, December 5, 2012
Dubai-based investment bank Shuaa Capital said it has entered into a MoU with PT Pratama Capital Indonesia (PCI), the country's leading brokerage, to offer a variety of investment banking services to issuers and investors of both the nations.
The agreement was signed in Dubai by Sheikh Maktoum Hasher Al Maktoum, the executive chairman of Shuaa Capital and Dr H Sugiharto, the senior advisor of PCI and former minister of state-owned enterprises in the United Indonesia Cabinet as well as Dr Iwan Margana, the PCI president director.
Set up in 2004, the PCI has been licensed as an underwriter/broker-dealer by the Indonesian Capital Market & Financial Institution Supervisory Board and is a member of the Indonesian Stock Exchange.
Commenting on the deal, Sheikh Maktoum said, “With this MoU we are taking an important first step to develop representation in the largest Southeast Asian economy and start facilitating cross-border capital flows between the UAE and Indonesia.”
Dr Sugiharto said PCI seeks to expand its reach to the UAE and other GCC countries in light of increasing trade activity and investor interest between the two countries.
Indonesia is the sixteenth largest economy in the world and a G-20 member with a GDP (purchasing power parity) of over $1.1 trillion1and real GDP growth of 6.5 per cent.
In 2011, the bilateral trade between the UAE and Indonesia had grown by over 25 per cent to $2.5 billion in 20113 and is expected to increase substantially in the coming years.
"Our goal is to build a trusted relationship with SHUAA to the benefit of our clients who wish to leverage our combined expertise and investment banking advisory capabilities," he added.-TradeArabia News Service