Trimegah files second lawsuit against KPPU<\/p>\n
Adianto P. Simamora, The Jakarta Post, Jakarta<\/p>\n
PT Trimegah Securities has filed a second lawsuit against the
\nantimonopoly watchdog Business Competition Supervisory Commission
\n(KPPU), in a move that is being viewed by some as an effort to
\ninfluence the commission's investigation of the high-profile
\nIndomobil case.<\/p>\n
KPPU chairman Mohammad Iqbal said on Wednesday the lawsuit was
\nfiled with the Central Jakarta District Court on April 24.<\/p>\n
\"We believe that the second lawsuit is meant to put pressure
\non us and to try and influence the KPPU's decision in the
\nIndomobil case,\" Iqbal said.<\/p>\n
The Indomobil case centers on the sale of the government's 72
\npercent share in automaker PT Indomobil Sukses Internasional to a
\nconsortium led by Trimegah, a publicly listed securities firm, in
\nDecember of last year.<\/p>\n
There have been allegations that the Trimegah-led consortium
\nwas merely a acting as a proxy for the Salim Family, the founder
\nof Indomobil. Salim, which transferred ownership in Indomobil and
\nnumerous other companies to the Indonesian Bank Restructuring
\nAgency (IBRA) to repay debts to the government, has been banned
\nfrom repurchasing these ceded assets.<\/p>\n
These allegations arose because of a belief by many observers
\nthat IBRA rushed to complete the transaction, without giving
\nother investors sufficient time to submit proper bids. The sale
\nprice was also seen as too low.<\/p>\n
According to Article 22 of Antimonopoly Law No. 5\/1999,
\nbusinesses are prohibited from conspiring with other parties to
\nwin a tender; this is underlined in the article as being an
\nunfair business practice.<\/p>\n
The allegations surrounding the Indomobil sale prompted the
\nKPPU, which was established by the government to enforce the
\nantimonopoly law, to launch an investigation.<\/p>\n
The results of this investigation could lead either to the
\ncancellation of the deal, or a fine of between Rp 1 billion and
\nRp 25 billion for the Trimegah-led consortium.<\/p>\n
Iqbal said the commission would announce its findings in the
\nIndomobil case sometime this month.<\/p>\n
The KPPU investigation also prompted the Attorney General's
\nOffice to study the case to see whether it should launch its own
\ninvestigation.<\/p>\n
Trimegah has accused the KPPU of releasing confidential
\ninformation concerning the transaction to the press. The company
\nfiled its first lawsuit with the State Administrative Court.<\/p>\n
The securities firm's corporate secretary, Rosinu, denied
\nsuggestions Trimegah was attempting to block KPPU's investigation
\nwith the lawsuits.<\/p>\n
\"There is no effort on our part to pressure or influence the
\nKPPU; we are only seeking justice,\" Rosinu told The Jakarta Post.<\/p>\n
He said the release of confidential information about the
\nIndomobil transaction had tarnished the image of Trimegah and
\nfrightened away clients, causing damage to its business.<\/p>\n
Meanwhile, Iqbal said the KPPU had appointed a special team of
\nlawyers to deal with the lawsuits in both courts.<\/p>\n
But KPPU has repeatedly said that since the commission is not
\na government institution, the State Administrative Court has no
\nright to hear a lawsuit against it.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/trimegah-files-second-lawsuit-against-kppu-1447893297",
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"sponsor": "Okusi Associates",
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