Hashim replaces Jopie in Bank Papan

Hashim replaces Jopie in Bank Papan

JAKARTA (JP): Hashim Djojohadikusumo replaced Jopie Wijaya on the board of commissioners of Bank Papan Sejahtera following Jopie's resignation, the company said yesterday after an extraordinary meeting of it shareholders.

Hashim also got four of his business associates appointed to the company: Honggo Wendratno and Priaswiajanto Sabrawi on the board of commissioners, and Al Njoo and Kemal Karyadana on the board of directors.

Bank Papan's president, A. Asmuadji, told reporters that the replacement was due to the resignation of several executives but he declined to elaborate.

In the last six months, Bank Papan's controlling shareholders have changed twice. Jopie Wijaya surprised the market when he took over the bank on May 13 through a series of transactions on the Surabaya Stock Exchange. Through PT Infinity Wahana, Jopie then became the largest single shareholder with 22.5 percent of its total outstanding shares, pushing Bank Indonesia to the second position.

But on Aug. 4, Hashim, through PT Tunasmas Paduarta, bought 19.8 percent of the bank's shares, 11.25 percentage points of which was Jopie's.

Hashim said yesterday that the replacement of several executives would not necessarily change Bank Papan's mission. The bank's primary operations will remain in the financing of home- ownership.

"I have asked the management to gain 10 percent of the total mortgage market this year," Hashim said.

The company also announced yesterday that the stockholders have changed in the last three months. As of Nov. 16, the top five stockholders were PT Tunasmas Paduartha (holding 19.8 percent), Bank Indonesia (13.11 percent), Chase Manhattan Singapore (9.39 percent), Somers Nominees Ltd. (8.82 percent) and SBC Warburg Hong Kong (8.44 percent). (10)