Minister promises to probe Goro deal<\/p>\n
JAKARTA (JP): Minister of Cooperatives and Small Enterprises
\nAdi Sasono said yesterday his office would investigate the recent
\nsale of PT Humpuss' stake in wholesaler firm Goro to the
\nConfederation of Primary Cooperative Associations (Inkud).<\/p>\n
Humpuss is controlled by former president Soeharto's youngest
\nson Hutomo Mandala Putra, popularly known as Tommy.<\/p>\n
Adi Sasono promised to take action against any wrongdoing in
\nthe sale of Humpuss' shares.<\/p>\n
\"It will be investigated. Anything strange and mysterious will
\nbe corrected, anything wrong will be reformed,\" Adi told
\njournalists after attending a meeting of economic ministers here.<\/p>\n
Goro, established in 1995, is 55 percent controlled by PT Goro
\nBatara Sakti and 45 percent owned by PT Goro Yudhistira Utama.<\/p>\n
Before selling its Goro shares, Humpuss controlled 80 percent
\nof Goro Batara, which owned 75 percent of Goro Yudhistiro.<\/p>\n
The remaining 20 percent stake at Goro Batara was owned by
\nbusinessman Ricardo Gelael.<\/p>\n
Inkud owned the remaining 25 percent stake at Goro Yudhistiro.<\/p>\n
On May 4, Inkud completed its takeover of Humpuss' 80 percent
\nstake and Gelael's 20 percent stake in Goro Batara, making it the
\nfull owner of the wholesaler.<\/p>\n
The sale of Humpuss' Goro shares coincided with the symbolic
\ntransfer of clove farmer funds totaling Rp 1.1 trillion
\n(US$100,000) to Inkud from the controversial Clove Marketing and
\nBuffer Stock Agency (BPPC) controlled by Tommy.<\/p>\n
Adi promised that he would order Inkud to disburse the funds
\nto clove farmers.<\/p>\n
However, sources said there was no real transfer of funds from
\nBPPC to Inkud. (rid)<\/p>",
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