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)