Confusion over Group ownership

Confusion over Group ownership

JAKARTA (JP): Bambang Sutrisno sold his entire equity share in
Golden Truly Group, which owns 84 percent of the now defunct Bank
Surya, to Sudwikatmono on Sept. 8 last year for US$10 million
then subsequently resigned from the group and the bank, Bambang's
lawyer Sudjono stated here on Tuesday.

Sudjono was commenting on the statement made by Sudwikatmono's
lawyer, Deny Kailimang, on Monday, in which he said that Bambang
should be held responsible for any mismanagement at Bank Surya,
which was suspended by the finance minister in April.

Deny talked to reporters after accompanying Sudwikatmono to
the Attorney General's Office, where the cousin of former
president Soeharto was questioned over the fate of central bank
liquidity support given to the bank.

Sudjono said Bambang, who is now in Singapore, together with
Sudwikatmono, previously owned 84 percent of Bank Surya through
their holdings in Golden Truly. The other 16 percent was held by
the investing public through the Jakarta Stock Exchange.

"But Bambang sold his entire stake in Golden Truly and
consequently his entire stake in Bank Surya last September and
immediately resigned from the boards of commissioners of both the
group and the bank," Sudjono said.

Sudwikatmono has yet to pay Bambang the agreed $10 million,
added Sudjono, who produced a copy of the memorandum of
understanding on the share sales transaction signed by the two
businessmen. (vin)