SBI is looking to acquire a bank in Indonesia for under $100 million to expand in Southeast Asia. Indonesian market offers high growth potential and SBI has identified 2-3 potential targets. SBI currently has a subsidiary in Indonesia called PT Bank SBI Indonesia with six branches.

1. Damanbir Singh
MBA 2C

2. To expand its operations in Southeast Asia, State Bank of
India is on a look out for acquisition of a bank in Indonesia in
cash deal not exceeding USD 100 million (about Rs 450
crore).
Indonesian market provides high growth potential and SBI
has identified 2-3 banks for possible acquisition.
SBI currently has a subsidiary in Indonesia called PT Bank SBI
Indonesia with a network of six branches. Last year, the
name of PT Bank IndoMonex was changed to PT Bank SBI
Indonesia.

3. Public sector lenders are not afraid of further
opening of the banking sector.
While inaugurating the 5th National Conference
organised by the Jaipuria Institute of Management
(JIM) on changing role of the banking sector,
Kamath said the public sector banks did well after
the RBI in 1993 issued licences for opening of banks,
currently known as new generation private sector
banks.

4. State-run Coal India, the world’s largest coal producer, is in
talks to acquire mines from two US companies, Peabody
Energy and Massey Energy.
Coal India has budgeted $1.2 billion to buy assets in the US,
Indonesia and Australia during the year ending March as it
battles a widening gap between domestic coal supply and
demand.The company, which last month raised $3.4 billion
in the nation’s biggest-ever initial public offering, has near-
monopoly control of India’s coal market. Indian companies
are increasingly turning to the US to secure vital
commodities to fuel the nation’s breakneck growth.

5. State-run GAIL plans a capex of Rs 40,000-crore for
the next four-years for various undertaking various
projects including sourcing of LNG.
GAIL has planned a capex of nearly Rs 40,000-crore
over the next four years for undertaking various
projects, including capacity expansion of our petro-
chemical business as well as LPG and for sourcing of
LNG.

6. SUNTV Group promoter Kalanithi Maran will take over as
chairman of the budget airline SpiceJet. Reconstitution of
the SpiceJet board, post Mr Maran’s acquiring 38.7% shares
in SpiceJet after a transaction in June, will be one of the main
agendas of the board meet.The open offer of SpiceJet and
the number of shares acquired by Mr Maran, subsequent to
the closure of the open offer on November 6, will also be
taken up.
Sun Group’s current vice-president, finance, Unnikrishnan
VC, is being tipped to be the next CFO of the airline. K
Natrajan, also from the Sun Group, will be brought in to the
airline, but it could not be verified in what capacity.

7. Hospitality firm Hotel Leelaventure Ltd reported net loss of
Rs 4.75 crore for the quarter ended September 30.
The company had posted net profit of Rs 1.75 crore during
the corresponding period last fiscal.
For the three month period under review, Hotel
Leelaventure's net sales grew by 16.38 per cent at Rs 104.41
crore as compared to Rs 89.71 crore in the same period last
year.
Hotel Leelaventure operatesThe Leela Palaces hotels and
resorts in Delhi, Mumbai, Bangalore, Gurgaon, Udaipur, Goa
and Kovalam.