purchase price are reasonable and beneficial for the company and its shareholders and in compliance with reasonable conditions. In this regard, IFA is of the opinion that the acquisition is reasonable

that would be beneficial to capital market business or consistent with its objectives upon permission from the SEC Board; and (3) Its governing body will consist of both ex-officio committee and

Rationale • Deepens the Bank’s presence in Indonesia, the largest ASEAN economy with GDP of US$1.04 trillion3 and 267 million population with young working age population, growing middle and upper income

opening accounts or engaging in business relationships with a securities company, but not including provident funds under the provident fund laws; (3) “ultimate beneficial owner of the transactions” means a

, but not including provident funds under the provident fund laws; (3) “ultimate beneficial owner of the transactions” means a natural person who ultimately owns the account, or has significant interests

business relationships with a securities company, but not including provident funds under the provident fund laws; (3) “ultimate beneficial owner of the transactions” means a natural person who ultimately

many Asian companies is the presence of a large and controlling shareholder. Listed companies are typically controlled by a shareholder owning the majority of the company‟s shares, either state-related

) “ major shareholder ” means any shareholder or beneficial owner of shares holding more than 10% of the total number of the applicant’s voting rights shares; For the purpose of the first paragraph, a

) “major shareholder” means any shareholder or beneficial owner of shares holding more than 10% of the total number of the applicant’s voting rights shares; For the purpose of the first paragraph, a

precious metal in Thailand; (3) “ major shareholder ” means any shareholder or beneficial owner of shares holding more than 10% of the total number of the applicant’s voting rights shares; For the purpose of