BCA ownership

BCA ownership

If government officials were serious in seeking to prevent
Liem Sioe Liong and/or his family from taking over Bank Central
Asia (BCA), then their first priority would be to sell, or
confiscate, his current shares, which stand at eight percent.

Precisely the opposite is happening, however.

The Indonesian Bank Restructuring Agency (IBRA) and the state
minister of enterprises appear enthusiastic about selling the
government's shares in BCA (51 percent) to foreign buyers or
parties, reportedly linked to the Liem family, without selling
off the remainder of Liem's shares in advance.

Whatever the reason, doing this runs not only against the
conscience and interests of the people, but also indicates a high
level of corruption by government authorities out for their own
benefit and that of their political parties.

The shares should instead be sold to a local consortium or
enterprise that has good moral values and a demonstrated
commitment to the nation. The government should also be leery of
adventurous and commission seekers.

The word is that six out of the would-be buyers of BCA are an
extension of the Liem family, and that two out of the six bidders
are Bank Mega and Setiawan Djody (Malaysia Plantation, Setdco).

It seems very illogical that a small fry like Bank Mega (owned
by Chairul Tanjung) would be interested in such a major
purchase. I suspect there is a hungry shark, the Liem family,
circling, waiting for the moment to swallow both.

Legislators should get serious -- not only about the billions
of rupiah lost in the non-budgetary National Logistics Agency
(Bulog) scam, but also about the trillions snatched away by
major-league thieves.

TONTOWY DJAUHARI HAMZAH

Jakarta