Singapore: Asset management firm Mandiri Investment Management (MIM), a Singapore-based subsidiary of Indonesia’s Mandiri Manajemen Investasi (MMI), expects to book $100m in total assets under management during the first year of its operations, which will officially begin Wednesday.
The new subsidiary will assist Singaporeans wanting to invest in Indonesia, both through foreign direct investment (FDI) and the Indonesian capital market platforms, the company’s chief executive officer Evan Lim said.
“They may want to invest in the real sector or enter the capital market. In the real sector, we will help them to get in touch with the BKPM [Investment Coordinating Board], while in the capital market, we will provide them with access to Indonesian securities,” he said.
MIM has held talks with several potential investors and it expects to launch its first products in the next quarter. Shipping, infrastructure and renewable energy are among the business sectors that the investors are currently looking into.
Both MIM and MMI are part of Indonesia’s largest lender, Bank Mandiri. [26/03/14]