Clarification of Press Report Regarding Sale of Stake in Bank Internasional Indonesia
2008-03-28On March 27, 2008, the Korea Exchange (“KRX”) requested Kookmin Bank to clarify a press report regarding sales of shares of Bank Internasional Indonesia (“BII”).
In response to this request, Kookmin Bank filed a statement with the KRX on March 27, 2008 as follows:
On March 26, 2008, Kookmin Bank received a correspondence from Fullerton Financial Holdings Pte. Ltd. (“FFH”), the largest shareholder of BII and a wholly-owned subsidiary of Temasek, that FFH is planning to sell its stake in Sorak Financial Holdings. Kookmin Bank is currently examining possible courses of action regarding its stake in Sorak Financial Holdings and plans to provide an update as to its intentions by no later than June 27, 2008 (or sooner if there are any definitive decisions made or actions taken by Kookmin Bank prior to such date).
Note: FFH is a wholly-owned subsidiary of Temasek. FFH holds a 75% stake in Sorak Financial Holdings. Kookmin Bank holds a 25% stake in Sorak Financial Holdings. Sorak Financial Holdings holds a 56% stake in BII.