JAKARTA: Shares in PT Bank Danamon Indonesia soared to their highest level in more than 17 years after Japan’s Mitsubishi UFJ Financial Group (MUFG) said it planned to buy a majority stake in the country’s fifth-largest lender.
MUFG said it had agreed with Danamon shareholders to buy 73.8 percent of the bank and would like to raise that to 100 percent as it looks to strengthen its presence in Southeast Asia’s biggest economy.
Danamon’s shares rose as much as 16.7 percent in early trade on Wednesday to 7,000 rupiah per share.
The first stage of the acquisition — a purchase of a 19.9 percent stake from Singapore state investor Temasek — was agreed at 8,323 rupiah per share or 15.88 trillion rupiah ($1.2 billion).
Shares in Indonesia’s Danamon soar to 17-year high after MUFG deal
Shares in Indonesia’s Danamon soar to 17-year high after MUFG deal
Saudi Arabia approves over 1k chemical permits, awards 172 mining licenses
RIYADH: Saudi Arabia processed more than 1,000 chemical permit requests in November and awarded exploration rights for 172 mining sites in what the government described as its largest licensing round on record.
The Ministry of Industry and Mineral Resources said it handled 1,095 chemical clearance requests during the month, including 1,041 approvals for non-restricted chemicals and 54 for restricted substances, covering 2,081 product classifications, the Saudi Press Agency reported.
It forms part of ongoing efforts to accelerate the discovery and development of mineral resources valued at over SR9.4 trillion ($2.51 trillion), aligning with Vision 2030’s objective to position mining as the third pillar of the national industrial sector.
Ministry spokesperson Jarrah Al-Jarrah explained that the chemical clearance service enables industrial investors to obtain import or export permits for chemicals used in manufacturing through the “Sanaei” digital platform.
“He clarified that the service aims to ensure that chemical clearances for industrial facilities are granted through streamlined procedures and in a timely manner, thus serving investors and facilitating the entry of their materials through ports of entry,” the SPA report stated.
Al-Jarrah explained that the service plays a critical role in enhancing industrial output by developing and automating permit procedures for production-related chemicals as part of the ministry’s digital services.
In a separate development, the ministry announced that 24 domestic and international companies and consortiums won exploration licenses across 172 mining sites in Saudi Arabia, with 76 of those sites awarded through a multi-round public auction.
These sites span three mineral belts in the Riyadh, Madinah, and Qassim regions, with committed exploration spending exceeding SR671 million during the first two years of project implementation.
The ministry described this licensing round as the largest mining tender in the Kingdom’s history.
The competition covered more than 24,000 sq. km across regions known for strategic minerals including gold, copper, silver, zinc, and nickel.
Additionally, the ministry noted that 26 qualified companies participated through the electronic bidding platform, progressing through a transparent process that began with prequalification and culminated in competitive multi-round auctions.
The ministry confirmed that these investments aim to develop untapped exploration zones and enhance the utilization of Saudi Arabia’s mineral wealth, strengthening global supply chains.
It also announced plans to launch further exploration license tenders covering 13,000 sq. km across Madinah, Makkah, Riyadh, Qassim, and Hail, with additional opportunities to be revealed at the 5th Future Minerals Forum in Riyadh from Jan. 13 to 15.
These efforts, the ministry stated, reflect a broader mining strategy focused on maximizing resource potential, attracting foreign investment, creating employment opportunities, and integrating value chains to establish Saudi Arabia as a global mining hub.









