AMMB's Unit Gets Approval For Investment Management Activities In Indonesia

KUALA LUMPUR, Feb 17 (Bernama) -- AMMB Holdings Bhd (AMMB), an investiment holding company, announced that Indonesia's Capital Market Supervisory Agency and Financial Institution had issued a licence to PT AMCI Manajemen Investasi Indonesia (AmInvestasi) to carry out investment management activities in the republic. AmInvestasi is a 99.99 per cent owned subsidiary of PT AmCapital Indonesia, which in turn is 99 per cent owned by Malaysia's AMMB. In a filing to Bursa (Malaysian stock exchange) Friday, AMMB said AmInvestasi will be engaged in investment management activities that would include portfolio fund management services; and issue and management of mutual fund products. PT AmCapital Indonesia is involved in stockbroking and underwriting business in Indonesia. -- BERNAMA