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CORRECT: Bank Mandiri Opens Branch in Singapore, President Says

March 26 (Bloomberg) -- (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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