DUBAI, UAE, December 5, 2012 /PRNewswire/ --
SHUAA Capital psc announces today that is has entered into a Memorandum of Understanding ('MoU') with PT Pratama Capital Indonesia ('PCI'). The MoU involves the development of a mutually beneficial collaboration between the two firms, offering a variety of investment banking services to issuers and investors in the UAE and the Republic of Indonesia.
The MoU was signed in Dubai by HH Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHUAA Capital and Dr. H. Sugiharto, Senior Advisor of PT Pratama Capital Indonesia and former Minister of State-Owned Enterprises in the United Indonesia Cabinet as well as Dr. Iwan Margana, President Director of PT Pratama Capital Indonesia.
The Republic of Indonesia is the sixteenth largest economy in the world and a G-20 member with a GDP (purchasing power parity) of over $1.1 trillion and real GDP growth of 6.5% In 2011. Bilateral trade between the UAE and Indonesia has grown by over 25% to US$2.5 billion in 2011 and is expected to increase substantially in the coming years.
PT Pratama Capital Indonesia is a limited liability company established in the Republic of Indonesia in 2004. PCI is licensed as an Underwriter/Broker-Dealer by the Indonesian Capital Market & Financial Institution Supervisory Board and a member of the Indonesian Stock Exchange.
HH Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHUAA Capital commented:
"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, Senior Advisor of Pratama Capital Indonesia added:
"Pratama Capital Indonesia seeks to expand its reach to the UAE and other GCC countries in light of increasing trade activity and investor interest between our countries. 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."
Notes to Editors:
Additional information about Dr. Sugiharto: Dr. Sugiharto started his career as Auditor and Management Consultant at SGV-Utomo. He held important positions such as Senior Investment Banking Officer (Board Member and Vice President at Bankers Trust and Chemical Bank as well as other senior positions, including CEO and CFO at Medco Group. During his career, Dr. Sugiharto was a member of the Special Staff to the Vice President of the Republic of Indonesia and Minister of State-Owned Enterprises in the United Indonesia Cabinet. Currently, Dr. Sugiharto serves Member of the Board and Chairman of PT Pertamina, the State Oil and Natural Gas Mining Company which is one of the world's largest producers and exporters of Liquefied Natural Gas; Bumiputera 1912, a mutual life insurance company; PT Riau Bara Harum, a coal mining company.
SHUAA Capital psc ('SHUAA') offers client-centric, fully integrated investment banking services. SHUAA, headquartered in Dubai, United Arab Emirates, services corporate and institutional clients as well as family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking, capital markets and credit. SHUAA was established in 1979 by Emiri decree No. 6. SHUAA is a public shareholding company, regulated as a financial investment company by the UAE Central Bank, and its stocks are listed on the Dubai Financial Market. http://www.shuaa.com
Source: CIA World Factbook, 2011 est
Source: International Monetary Fund, World economic Outlook, April 2012
Source: Quote of Salman Al Farisi, Indonesian Ambassador to the UAE
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SOURCE SHUAA Capital psc