Oversea-Chinese Banking Corporation Limited announced that its subsidiary, PT Bank OCBC NISP TBK has incorporated a company, PT OCBC NISP Ventura in the Republic of Indonesia on 15 July 2019. The Subsidiary was incorporated with an issued and paid-up share capital of IDR 100,000,000,000 (approximately SGD 9,600,000) comprising 1,000,000 ordinary shares, of which 99.9% is held by OCBCNISP and the remaining 0.1% is held by PT Suryasono Sentosa. PTSS is an "associate" of Mr. Pramukti Surjaudaja, a director of OCBC. The principal activity of the Subsidiary will be to finance activities in the form of equity participation.