bung Rully..mau tanya aja ...
statement

"..........................
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.
.........................."

itu beneran bung Rully yang bilang ?

cuman pingin tahu aja

Cougar

On Sat, Jun 20, 2009 at 10:58 AM, Rully <rullymainsa...@gmail.com> wrote:

>
>
> 
> 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™ <vaulst...@yahoo.com>
> *To:* obrolan-bandar@yahoogroups.com
> *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
>
>
>  
>

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