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)