Bambang sees political move behind liquidation

Bambang sees political move behind liquidation

JAKARTA (JP): Bambang Trihatmodjo, a major share holder of the
liquidated Bank Andromeda, suggested that the recent closure of
the 16 banks may be a political move to discredit the first
family.

Bambang, President Soeharto's second son, told journalists
during a break of a People's Consultative Assembly session, that
he came to such a conclusion after learning that several of the
banks were linked with members of the President's family.

"You can see on that list that there's me, Titik (Siti Hediati
Prabowo), Pak Probo (Probosutedjo). And previously Mbak Tutut
(Siti Hardiyanti Rukmana), Tommy (Hutomo Mandala Putra) and Pak
Dwi (Sudwikatmono) were also included," a dejected Bambang said.

"I think there's a political move to disgrace my family," he
suggested.

Bank Andromeda, where Bambang owns 25 percent of shares, Bank
Jakarta, owned by one of Soeharto's half brothers Probosutedjo,
and Bank Industri, in which Hediati holds 8 percent of stakes,
were among the 16 private banks which were declared unhealthy and
closed by the government.

Hardiyanti, Hutomo and Sudwikatmono, Soeharto's adopted
relative, saw their banks, Bank Yama, Bank Utama and Bank
Subentra respectively, were not included in the banks that were
closed.

Bambang questioned the process of liquidation which he said
lacked transparency.

Asked about whether the so-called political move was aimed at
squeezing the businesses of the first family, Bambang said he had
no idea.

When confronted with the fact that ministers had sought
Soeharto's approval before the bank closure, Bambang said he
believed the President did not know the full details of the
economic reform.

Soeharto has been in Malaysia the past three days to attend
the G-15 summit. He is scheduled to return today.

Bambang said he neither met nor contacted his father since the
liquidation move.

"Father's busy over there," he replied when asked.

Bambang complained that the government had rejected a last-
ditch effort to save Bank Andromeda, which was guilty for
exceeding the legal lending limit requirement.

"We admit the fault, but we know 90 percent of national banks
must have violated the requirement," he said but he argued that
Bank Indonesia and the government knew that it was to help to
finance the Chandra Asri petrochemical project which was
rescheduled by the government.

He said the government should seek a fairer solution of the
bank closure by revising the ministerial decree closing the 16
banks.

"If the government really wants to heal the ailing bank
system, why was our good will to inject the money rejected?
Logically, if a bank has a chance to recover, it must not be
shut," he argued.

He said he would go ahead with his plan to challenge the
government's decision in the Jakarta Administrative Court.

Bank Andromeda's president Nico Mailangkai named yesterday
O.C. Kaligis, Hotman Paris Hutapea and Rudy Lontoh as the bank's
lawyers. They will start the legal battle today.

Bambang said his brothers and sisters support his measure.

"I have called them and we promised to support each other. If
my assumption is correct, they will be siding with me," he said.

Separately, Probosutedjo said he would follow in Bambang's
footsteps to sue the government since his demand to revise the
closure of Bank Jakarta was not reviewed.

Separately the Director of Econit Advisory Group Laksamana
Sukardi said every citizen had the right to a fair and just law.

"This will serve as a test to our court system, to see whether
our bank, company or liquidation laws work," he said.

In a related development leaders of the House of
Representatives hailed yesterday the government's decision to
close down the 16 banks, saying it was a right and brave option.

"The liquidation is aimed at healing the national banking and
in turn will improve efficiency and revive our economy," Deputy
House Speaker Abdul Gafur told a press conference following a
House leadership meeting.

Gafur, a Golkar legislator, said the House expects the
government to anticipate possible public anxiety, particularly
among depositors and employees of the liquidated banks. (das/amd)

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