Jun 28, 2011

Stephanus, Northstar & Mahanusa

A consortium of Northstar Pacific Partners, which was founded by Patrick S. Walujo and Glenn T. Sugita, will soon accomplish a majority takeover of brokerage firm and investment management owned by PT Mahanusa Capital.   
Northstar consortium, which partners a stellar profile in Indonesia stock market, will acquire PT Mahanusa Securities and PT Mahanusa Investment Management, three sources close to the deal said.
"Mahanusa Securities's capital paid in is Rp50 billion and Mahanusa Investment is about Rp25 billion. The brokerage still has nearly Rp50 billion retained earning," the sources said. 
Mahanusa Securities President Director Maria Ariany Santoso said she doesn't have any information about the deal. "For sure, Mahanusa requires strategic investor to boost net adjusted working capital [MKBD]," she said as quoted by Bisnis Indonesia daily today.
Mahanusa Capital is an investment company focusing in several assets in Indonesia. Founded in early 1999 by Daniel Budiman, Widjaja Tannady, and Howard Chu, Mahanusa Capital manages several portfolios in property and palm oil plantation.
In the property sector, Mahanusa manages Pacific Place, SCBD, Jakarta, and the Equity Tower. In Sangau, Kalimantan, Mahanusa manages green field project and palm plantation, namely PT Sepanjang Inti Surya Utama 2.
Stephanus Turangan
The sources said a famed executive figure from PT Danareksa (Persero), Stephanus Turangan, may take the lead at Mahanusa Securities. 
Stephanus, former Director at Deutsche Bank and joined Danareksa as of August 2009, has officially proposed his resignation letter to the Ministry of State-Owned Enterprises on June 13. If everything goes on schedule, his resignation will obtain effective date a month later.
Stephanus, former Managing Director of Capital Market in PT Mandiri Sekuritas (2003-2006), will bring one former executive from Mandiri Sekuritas, namely Syafriandi Armand Saleh, former Head of Retail Sales at Mandiri Sekuritas who resigned last month
Who is next? The sources said David Agus, Director of Investment Banking at PT Danareksa Sekuritas, may take his opportunity with Mahanusa Securities.  
"David Agus may boost investment banking business at Mahanusa and Syafriandi will drive retail sales. The combination of both may enlarge Mahanusa business in the brokerage market," the sources said.  

Disclosure: No position at the stock mentioned above.  

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