Concern over Bank Niaga's divestment<\/p>\n
In connection with the divestment of Bank Niaga, there are
\nseveral things I would like to convey to the public.<\/p>\n
First, the process has proven that we cannot be fair. The
\ndivestment was carried out in phases starting in August 2002. It
\nhas proceeded smoothly except for the selection of the tender
\nwinner, Commerce Asset Holding Bhd. Other bidders may doubt the
\noutcome of this divestment tender, in which every means seems to
\nhave been justified to achieve the desired end. Such methods
\nbecome a potential cause of failure in future divestment schemes.<\/p>\n
Second, the issue of bribery, which has marred the reputation
\nof the House of Representatives (DPR) and the Indonesian Bank
\nRestructuring Agency (IBRA). Accusations of payoffs have emerged
\nat the time of announcement of the tender winner.<\/p>\n
The competent authorities should summon DPR member Meliono
\nSoewondo to find out the motivation behind the accusations of
\nbribery in the mass media, because other parties have denied such
\nallegations. It is important to avoid the impression of unfair
\ncompetition, or a conflict of interests in the divestment of Bank
\nNiaga.<\/p>\n
Third, IBRA should strictly apply the principles of good
\ncorporate governance as regards transparency. This agency must
\nmaintain its independence and firm attitude so as to be capable
\nof taking legal action when potential issues arise, particularly
\nthose harming the accumulation of receipts from assets sales or
\nshares divestment to meet the need of the state budget for
\neconomic recovery.<\/p>\n
WANDI PUJAYADI, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/concern-over-bank-niagas-divestment-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }