{
    "success": true,
    "data": {
        "id": 1246134,
        "msgid": "awaiting-a-better-bca-1447893297",
        "date": "2002-03-20 00:00:00",
        "title": "Awaiting a better BCA",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Awaiting a better BCA On Thursday, March 14, in the context of BCA divestment, the government, which controls 51 percent of BCA shares, decided to sell all its shares to the consortium led by Farallon Capital Management. As the new management of BCA, Farallon should be able to answer the challenge to make BCA a bank that can revive the real sector, and not simply one that lives on the proceeds from the interest on bonds and Bank Indonesia promissory notes.",
        "content": "<p>Awaiting a better BCA<\/p>\n<p>On Thursday, March 14, in the context of BCA divestment, the<br>\ngovernment, which controls 51 percent of BCA shares, decided to<br>\nsell all its shares to the consortium led by Farallon Capital<br>\nManagement.<\/p>\n<p>As the new management of BCA, Farallon should be able to<br>\nanswer the challenge to make BCA a bank that can revive the real<br>\nsector, and not simply one that lives on the proceeds from the<br>\ninterest on bonds and Bank Indonesia promissory notes.<\/p>\n<p>We have been tired by efforts to restructure the national<br>\nbanking sector. Over Rp 650 trillion has been injected in the<br>\nform of bonds, but the national banking sector has yet to regain<br>\nits sound condition.<\/p>\n<p>We have not turned a blind eye to the fact that the interest<br>\naccruing on the bonds that the state injects every year are spent<br>\non paying the interest on public deposits in banks. The number of<br>\ncommunity members with bank deposits, however, is far smaller<br>\nthan the 200 million Indonesians obliged to pay taxes to the<br>\nstate.<\/p>\n<p>Farallon's duty isn't easy. It has to put at stake not only Rp<br>\n5.3 trillion of its capital to obtain 51 percent of BCA shares<br>\nbut also its credibility as a responsible investor.<\/p>\n<p>It is unfair of us to judge Farallon before they have done<br>\nanything, let alone intimidate them by suggesting the government<br>\nshould be able to take the shares back and sell them to another<br>\nparty if Farallon cannot meet the wishes of the public.<\/p>\n<p>It is also improper for the bank's employees to continue<br>\nmaking a fuss about the bank's ownership. If they want to be<br>\nappreciated, they should demonstrate their capability as people<br>\nwho deserve to be valued. If they want to help the country, they<br>\nshould show their productivity so the bank could contribute more<br>\ntaxes.<\/p>\n<p>Let's give an opportunity to the new proprietor of BCA to make<br>\nthe bank better and more professional.<\/p>\n<p>-- Kompas, Jakarta<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/awaiting-a-better-bca-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}