PREMIUMConventional jobs losing ground in digital era

first_imgFacebook #Jakarta society #society digital-era #digital-era employment #employment Jan. 10 was like any other day for Buyung, a 45-year-old paperboy who regularly delivers the morning paper to offices and houses in Harmoni, Central Jakarta. However, unlike in the past, he carried few newspapers on the back of his bicycle.Ever since starting the job in 2009, he has experienced a massive decrease in the number of newspapers he delivers, with the world around him growing more and more digitalized by the second. Consequently, jobs like his risk running the way of the dodo.Paperboys make less than they did in past decades and many are out of a job as a result. Buyung said many of his colleagues either made the decision to retire or look for other jobs to support their family.“I have friends who turned to ojol [online motorcycle taxis] and food vendors after retiring from being a paperboy,” said Buyung while preparing to deliver newspapers on a rainy … Google Topics : LOG INDon’t have an account? Register here Forgot Password ? Linkedin Log in with your social accountlast_img read more

Bangkok Bank to acquire another Indonesian bank after Permata deal: OJK

first_imgThe majority of Bank Permata shares is owned by British financial giant Standard Chartered and Indonesian diversified conglomerate PT Astra International, with each owning 44.56 percent. Bank Permata operates 330 branches in 62 cities across Indonesia.The deal values Permata at 1.77 times its book value as per September 2019 and indicates a purchase price of Rp 1,498 (11 US cents) per share.The deal is expected to close in 2020 with Bangkok Bank set to make a mandatory offer for the remaining 10.88 percent of the shares at the same purchase price after completing the transaction to acquire the stakes from Standard Chartered and Astra. Thailand-based Bangkok Bank is planning to acquire another Indonesian bank after closing a deal to purchase a majority stake in Bank Permata from Standard Chartered and Astra International for US$2.7 billion, according to the Financial Services Authority (OJK).OJK commissioner for banking supervision Heru Kristiyana said Thursday that the bank was granted the approval to acquire Permata Bank, adding that the bank may purchase another Indonesian bank after completing the Permata deal.“It is already in their pipeline,” Heru told reporters in Jakarta without disclosing the name of the bank. “Everything is already on the right track with Bangkok Bank.” According to OJK Regulation No. 56/2016 on bank ownership, the OJK allows bank institutions and non-bank institutions to acquire a maximum 40 percent stake in local banks.Read also: Hopes high for Bank Permata after acquisition by Bangkok BankHowever, the OJK said it would allow investors to own more than 40 percent on the condition that they support financial system stability and help to develop the national economy.Bangkok Bank announced in December last year that it had agreed to buy 89.1 percent of publicly listed Bank Permata for around US$2.67 billion as part of its overseas expansion.center_img Topics :last_img read more