Bapepam okays names for JSX directors

Bapepam okays names for JSX directors

JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam)
yesterday approved three possible boards of directors for the
Jakarta Stock Exchange (JSX) as well as one board of
commissioners.

An informed source at the JSX told The Jakarta Post yesterday
that Mohammad Latuconsina, Cyrill Nurkhadi and Yannes Naibaho
were approved as the heads of their respective boards and Fuad
Bawazir as the only candidate for chief commissioner.

The new board of directors, consisting of one president and
three directors, and the board of commissioners will be elected
by exchange members next week.

The board of Fuad, who is also director general of taxation,
consists of President Soeharto's daughter Titik Prabowo, Rosano
Barrack, Erry Riyana Hardjapamekas and Rini M.S. Suwandhi.

Rosano Barrack is vice chairman of the Bimantara Group and the
newly-elected chairman of the Indonesian Public Companies
Association. Erry Riyana is president of PT Tambang Timah, while
Rini is the finance director of PT Astra International.

Rini is the only one of the current JSX commissioners to be
re-nominated.

Latuconsina is now a director of the PT Pasaraya retail chain.
His team consists of Stanislaus Say, presently a JSX director,
Sofian Jalil, a research director at the Ministry of Finance's
Center for Policy and Implementation Studies, and Indra Savitri
from the Savitri and Motik law firm.

Cyrill is president of the Indonesian Securities Clearing and
Depository (PT KDEI) company. His team consists of two current
JSX directors -- Mas Achmad Daniri and Felia Salim -- and Edwin
Stambul, a Surabaya Stock Exchange commissioner.

On the board of Naibaho, who is also president of PT Usaha
Bersama Securities, are Harry Wiguna, an executive of a local
securities company, Ery Firmansyah, the managing director of PT
Lippo City, and Nasrun Yasabari, a legal consultant.

A JSX director, Stanislaus Say, said yesterday that only 182
of the 197 securities companies registered on the JSX will be
allowed to vote in the election.

"The other 15 are now on temporary suspension for various
reasons. But all of them are invited to the annual shareholders
meeting next week," Stanislaus said. (08)