We did a quick check yesterday afternoon London time to map out market sentiment over a handful of key institutional investors/traders of our network concerning the overtly significant price spread between Vallar, Plc and its parent BNBR for the closing of May 4, 2011. Vallar was noted to adjust +0,74% while BNBR all of sudden jumped the gun and reaching of ceiling to 11,94%.
We found out that key institutional investors/traders overseas had been taking position to anticipate the ongoing concern again on Bakrie's group financial reporting integrity. It is anticipated that a few international news coverage are on the way to publish another suspectedly financial reporting and corporate governance concerns on Bakrie's related group. This is the second incident in less than a year, and market overseas are taking note seriously. '+' On Tue, May 3, 2011 at 4:17 PM, zero25758 <[email protected]> wrote: > > > dasar ndablek si BNBR hehehe > > Bapepam may sanction Bakrie & Brothers > > Financial Institution and Capital Market Supervisory Agency is considering > the possibility to impose sanction to PT Bakrie & Brothers Tbk (BNBR) on the > allegation of the violation in material transaction listing of its > subsidiary worth Rp1.37 trillion in financial statement 2010. > Head of Finance Assessment Bureau of Service Company Financial Institution > and Capital Market Supervisory Agency (Bapepam-LK) Gonthor Ryantori Aziz > said the study was conducted after the capital market authority reviewed the > recording of transaction in one of Bakrie's subsidiaries, namely PT > Petromine Energy Trading with PT AKR Corporindo Tbk. > "We have checked and the transaction was not declared in the Bakrie's > balance sheet. But on AKR's balance sheet, the information is listed. Under > the rules, it should be listed. For sanctions, we will further examine," he > said yesterday as quoted by Bisnis Indonesia daily today. > As it is known, Bapepam-LK reviewed the financial statement of Bakrie since > last Wednesday, following news about the lack of recording material > transactions in the form of fuel purchase by Petromine from AKR in the 2010 > financial statement amounting Rp1.37 trillion. > In the 2010 financial statement of AKR, the deal is mentioned clearly. The > value is Rp1.37 trillion and included in the income accounts whose value is > 10% greater than the total revenue. > With revenue position AKR Rp12, 19 trillion, the portion of transactions > reached 11.24%. > > >
