![](https://wp-static.smartkarma.com/../assets/uploaded/2022/01/IndonesiaBankNegaraIndonesiaPerseroAsiaHighYieldBondIndexWarungPintarandmore.jpg)
In today’s briefing:
- Bank Negara Indonesia – What on Earth Is Management Thinking?
- Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- Indonesia Ecommerce Enabler Sirclo to Acquire Warung Pintar
Bank Negara Indonesia – What on Earth Is Management Thinking?
- BNI posted a poor set of 4Q21 results, given the generally ignored continued credit deterioration;
- Results were heavily reliant on a negative 10.0% tax rate for 4Q21, which goes away in 2022; and
- BNI recently announced a “me too” deal to acquire a 63.9% stake in Bank Mayora at 2x book, at a time when BNI’s own house is a dumpster fire.
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
Indonesia Ecommerce Enabler Sirclo to Acquire Warung Pintar
- Sirclo, an Indonesia-based ecommerce enabler, has announced that it is set to acquire Warung Pintar
- The value of the deal is undisclosed, but the process is expected to be completed within the first quarter of this year
- Sirclo said that the deal helps its plan to offer more comprehensive online and offline commerce solutions for its clients
Before it’s here, it’s on Smartkarma