Bugis Investments injects $74.08 million into NIB Bank

Bugis Investments, a wholly owned subsidiary of Fullerton Financial Holdings of Singapore, has injected 74.08 million dollars in NIB Bank Ltd. According to sources here on Friday, Bugis Investment is the majority shareholder of NIB Bank with 74 percent. With this injection, its share of the proposed capital will be increased to Rs 6.4 billion in the bank as of December 30, 2010.
It may be noted that in August 2010, NIB Bank Limited had shown its intention to increase its capital with a view to make the Bank stronger.