Maybank and BCB among 10 bidders for Indonesia’s Permata

JAKARTA: Ten groups of foreign and local investors – including Malayan Banking Bhd (Maybank) and the Bumiputra-Commerce Bank consortium – have applied to bid for a majority stake in Indonesia's seventh largest bank, PT Bank Permata Tbk, a sale that could raise at least US$170mil for the cash-strapped government. 

The government, which owns 97% of Permata, is selling a 51% stake as the first tranche of a disposal that will total 71%.