Lippo again<\/p>\n
I'm really deeply concerned over media reports on Bank Lippo.
\nThere are several reasons for this concern.<\/p>\n
First, the government has been tardy with its reaction even
\nthough the Bank Lippo issue has become the talk of the town for
\nover two months. The mass media have published unfavorable
\ncomments from competent parties, such as the state minister of
\nstate enterprises, the Indonesian Bank Restructuring Agency
\n(IBRA), the Capital Market Supervisory Board (Bapepam), the
\nJakarta Stock Exchange, the House of Representatives (DPR), the
\nAssociation of Accountants, legal consultants, community
\ninvestors and so forth.<\/p>\n
Unfortunately, these comments have yet to prompt the
\ngovernment to take action. It seems the government is more
\ninterested in involving itself in a discourse over this matter
\nrather than finding a real solution.<\/p>\n
Second, the fines imposed by the stock exchange and monetary
\nauthorities on the Lippo Group have failed to be a deterrent for
\nthis group. Why? Perhaps, the fines are smaller in amount than
\nthe proceeds the group can rake in. That's why although this
\ngroup has been subjected to fine impositions several times, it
\nwill continue to engage itself in an activity which will again
\nmake it subject to another fine.<\/p>\n
Third, Lin Che Wei, an economic observer dubbed the most
\npopular analyst by a leading business magazine, has lashed out at
\nBank Lippo in an attempt to prevent the looting of trillions of
\nrupiah of state assets but has been accused by a commissioner of
\nBank Lippo for smearing the bank's reputation.<\/p>\n
In view of this concern, the Consortium for Public Information
\nTransparency (KUTIP) would like to suggest the following:<\/p>\n
First, the stern warning that the Jakarta Stock Exchange has
\nissued to Bank Lippo is not materially sufficient and must be
\nfollowed by Bapepam's imposition of a fine the amount of which
\nmust be bigger than the profit or the potential profit that the
\nRiady family has collected or will collect.<\/p>\n
Second, the Attorney General's Office, the National Police
\nchief and legal agencies must concentrate on major cases such as
\nthe report made by the Indonesian Corruption Watch (ICW) to the
\nAttorney General's Office about Bank Lippo.<\/p>\n
Third, it is now time for the people to support and encourage
\n"white" observers while at the same time monitoring the
\nactivities of "black" business tycoons.<\/p>\n
HANS SUTA WIDHYA
\nExecutive Director of KUTIP
\nJakarta<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lippo-again-1447899208",
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"sponsor": "Okusi Associates",
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