CORRECT: Bank Mandiri Opens Branch in Singapore, President Says

(Bank Mandiri corrects to say it is relocating existing operations to new branch office in Singapore) Co. has only one license and would like to have more as it seeks a “reasonable presence” in Singapore, President Director Budi Gunadi Sadikin tells reporters in Singapore today. * “It’s about yin and yang,” Sadikin says; Singapore banks will get “broader opportunities in Indonesia” if more licenses awarded to Indonesian banks to operate in Singapore * Bank Mandiri has no intention of dominating Singapore banking market as it’s already very crowded

To contact the reporter on this story: Jasmine Ng in Singapore at jng299@bloomberg.net

To contact the editors responsible for this story: Berni Moestafa at bmoestafa@bloomberg.net

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