Minister promises to probe Goro deal

Minister promises to probe Goro deal

JAKARTA (JP): Minister of Cooperatives and Small Enterprises
Adi Sasono said yesterday his office would investigate the recent
sale of PT Humpuss' stake in wholesaler firm Goro to the
Confederation of Primary Cooperative Associations (Inkud).

Humpuss is controlled by former president Soeharto's youngest
son Hutomo Mandala Putra, popularly known as Tommy.

Adi Sasono promised to take action against any wrongdoing in
the sale of Humpuss' shares.

"It will be investigated. Anything strange and mysterious will
be corrected, anything wrong will be reformed," Adi told
journalists after attending a meeting of economic ministers here.

Goro, established in 1995, is 55 percent controlled by PT Goro
Batara Sakti and 45 percent owned by PT Goro Yudhistira Utama.

Before selling its Goro shares, Humpuss controlled 80 percent
of Goro Batara, which owned 75 percent of Goro Yudhistiro.

The remaining 20 percent stake at Goro Batara was owned by
businessman Ricardo Gelael.

Inkud owned the remaining 25 percent stake at Goro Yudhistiro.

On May 4, Inkud completed its takeover of Humpuss' 80 percent
stake and Gelael's 20 percent stake in Goro Batara, making it the
full owner of the wholesaler.

The sale of Humpuss' Goro shares coincided with the symbolic
transfer of clove farmer funds totaling Rp 1.1 trillion
(US$100,000) to Inkud from the controversial Clove Marketing and
Buffer Stock Agency (BPPC) controlled by Tommy.

Adi promised that he would order Inkud to disburse the funds
to clove farmers.

However, sources said there was no real transfer of funds from
BPPC to Inkud. (rid)