Ex-cooperative chief takes away Rp 200m

CILACAP, Central Java: The head of a joint-venture employees' cooperative in Cilacap has disappeared with half of Rp 200 million worth of profits earned from the sale of its shares.

Jaffaruddin, 40, chairman of the cooperative, received the money in February and has since then never returned to his office in Cilacap, Central Java.

The shares of the cooperative belong to several major companies, including state oil and gas firm Pertamina, Mitsubishi and Nippon KK.

Djauhari, the cooperative's acting chief, said on Tuesday that the motive for Jaffaruddin's action remained unclear. Police are still hunting for the fugitive. (45)