saya harap anda yg mengusulkan hal ini siap menjadi saksi...
Ruz7 wrote:
>
>
> Court Settlement saja Om Rully :)
>
> Powered By FREN BondBerry. (Bayar Pake Daun). Indeksbei3000®
>
> ------------------------------------------------------------------------
> *From*: "Rully"
> *Date*: Sat, 20 Jun 2009 12:58:02 +0900
> *To*: <[email protected]>
> *Subject*: Re: [ob] Bumi Investors Say: ‘No Probe? No Problem’ - APA
> GUE BI LANG! INDO UDAH RUSAK! INVESTOR LUAR LARI SEMUA
> PH,
>
> Would you be kind enough to clarify this allegation? Or should we go
> to court so you can prove your allegation?
>
> Salam,
> Rully
>
>
>
> ----- Original Message -----
> *From:* PH™ <mailto:[email protected]>
> *To:* [email protected]
> <mailto:[email protected]>
> *Sent:* Saturday, June 20, 2009 12:04 PM
> *Subject:* [ob] Bumi Investors Say: ‘No Probe? No Problem’ - APA
> GUE BILANG! INDO UDAH RUSAK! INVESTOR LUAR LARI SEMUA
>
>
> Even leader / representative of Minority shareholder bisa di
> beli... ;(
> Takut kali kalau masalah ini berlanjut saham dia nanti kena margin
> call... jadi boke... dan mendingan jg terima duit dulu dari orang
> tertentu....
>
>
> ---------------------------------------
>
>
> Bumi Investors Say: ‘No Probe? No Problem’
>
> In 2007, Indonesia was ranked worst out of 11 regional markets in
> the Asian Corporate Governance Association survey, and, judging by
> the market regulator’s apparent whitewash of the PT Bumi Resources
> probe, nothing much has changed.
>
> However, despite the potential damage to the credibility of the
> bourse and the regulator — not to mention the interests of small
> investors — it now appears that it’s a case of “out of sight, out
> of mind,” with analysts and even Bumi’s minority shareholders
> suddenly saying they are happy with the decision of the Capital
> Market and Financial Institution Supervisory Agency (Bapepam-LK).
>
> In January, the agency launched a probe into the Bumi’s purchase
> of three coal firms — PT Darma Henwa, PT Fajar Bumi Sakti and PT
> Pendopo Energi Batubara — for a total of Rp 6.18 trillion ($593
> million) after an investor and media outcry over allegations that
> the acquisitions were overpriced.
>
> It was also alleged that the acquisitions amounted to a material
> transaction requiring the approval of Bumi shareholders — which
> was never given — and that some of the coal firms were actually
> affiliated with Bumi’s owners, the Bakrie group of companies,
> through obscure cross-shareholding arrangements.
>
> However, after a seemingly interminable probe that included the
> recruitment of an outside appraiser, the only fault Bapepam could
> come up with was that the price paid for one of the targets, PT
> Fajar Bumi Sakti, was Rp 370 billion too high.
>
> But even here Bumi was given an easy way out — all it had to do
> was renegotiate the price and bring it down to a “reasonable”
> level, which it says it is now in the process of doing.
>
> The market watchdog also let Bumi off the hook on the material
> transaction question, saying that since the transactions took
> place in different fiscal years the issue of materiality did not
> arise — a view that many would consider excessively legalistic
> given that all of the transactions took place within little more
> than one week. Dharma Henwa was bought on Dec. 30, Pendopo Energi
> Batubara on Jan. 5 and Fajar Bumi Sakti on Jan. 7.
>
> Capital market regulations designed to protect the interests of
> minority shareholders require a company to seek shareholder
> approval for a transaction if its value exceeds 10 percent of the
> company’s revenue or 20 percent of its market value. In this case,
> the combined value of the transactions would have required such
> approval had they not been completed in different years.
>
> On the affiliation issue, Bapepam has completely abandoned its
> investigation without coming up with any findings, saying that the
> question is now irrelevant.
>
> Indra Safitri, an independent capital market legal consultant,
> said that Bapepam had based its actions on the findings of the
> independent appraiser.
>
> “The other issues become irrelevant if the prices paid are
> reasonable,” he said, when asked whether the market watchdog was
> justified in abandoning its affiliation probe.
>
> Meanwhile, a representative of Bumi’s minority shareholders, Rully
> Oetomo, said: “We welcome the fact that Bumi’s management is
> willing to renegotiate and seek a better price for Fajar Bumi.”
>
> Rully said that since the transactions were found to have been
> nonmaterial, Bumi would not now have to seek shareholder approval.
> A meeting had been scheduled for this purpose this coming Friday.
>
> “We will not push Bapepam to continue the investigation into the
> affiliation issue if we are happy with the price,” Rully said.
>
> But despite the newfound acquiescence of the company’s
> shareholders, doubts nevertheless persist, not to mention concerns
> over the future of corporate governance here as a whole, with one
> analyst having aptly characterized the entire affair as “nothing
> more than a game.”
>
>
> Jakarta Globe
>
>
>
