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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanwha Investment & Securities will acquire Indonesian securities firms and asset management firms.
Not only is it the world's fourth-largest population, but it will also take a full-fledged step toward a digital financial company representing Southeast Asia by entering Indonesia, which is growing rapidly with an economic growth rate of 5.3% last year.
Hanwha Investment & Securities held a board meeting on the 15th and decided to pursue the acquisition of Indonesia's Chiptana Securities and Asset Management. Chiptana Securities and Asset Management is a financial company affiliated with Indonesia's sixth-largest Ripo Group, with Hanwha Investment & Securities set to acquire 80 percent of its stake held by Chiptana Capital.
Hanwha Investment & Securities plans to strengthen its bid to tap the Southeast Asian market, where the digital economy is accelerating through the acquisition.
According to KOTRA, Indonesia recorded high economic growth of 5.3% last year, out of the influence of the COVID-19 pandemic. Rising international raw material prices and foreign direct investment are cited as the reasons for high growth.
Not as much as last year, but this year, optimistic economic growth is expected. It is expected to be 0.1 percentage point higher than the average growth rate of five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand and Vietnam).
Hanwha Investment & Securities' overseas expansion began in earnest in 2019.
In order to enter the global market, we established Pinetree Securities, an overseas subsidiary, and set foot in the Southeast Asian financial market. Starting with the acquisition of HFT Securities in Vietnam in April of that year, it established a corporation in Singapore in November.
The Vietnamese subsidiary is strengthening its local position by securing new customers through its non-face-to-face platform and investment social network app "PineX," and succeeded in making a surplus in 2021, three years after entering the market.
Synergy with Hanwha Financial affiliates is also expected. Hanwha Life Insurance's Indonesian subsidiary has been in operation since 2013, and Hanwha Life Insurance's Indonesian subsidiary and Hanwha Insurance acquired a 62.6% stake in Lipo Group in March this year. In particular, it plans to maintain a cooperative relationship with Lipo Group, which has various affiliates such as real estate, banks, medical care, and distribution.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
