SG's UOB completes 75% stake acquisition of Indonesia’s PG Asset Management

SG's UOB completes 75% stake acquisition of Indonesia’s PG Asset Management

People sit outside a United Overseas Bank Ltd. (UOB) branch in Singapore, on Monday, Feb. 12, 2018. Photographer: Ore Huiying/Bloomberg

Singapore-based UOB Asset Management (UOBAM) has acquired a 75 per cent stake in PG Asset Management (PGAM) from local firm Multikem Suplindo for S$2.25 million ($1.63 million), according to an announcement.