Shareholders' meetings

Shareholders' meetings

In the present atmosphere of reform, Indonesia's mass media
have been carrying advertisements about schedules of
shareholders' general meetings. It may not be far wrong to assume
that these advertisements are placed by companies belonging to
family members of former president Soeharto and also to business
tycoons allegedly enjoying facilities extended by officials in
the old regime.

Why have these companies decided to hold these meetings so
suddenly? It must be linked to a stronger demand that the assets
of the family members of former president Soeharto and also those
of certain government officials and business tycoons be returned
to the state because it must be assumed that they all have
acquired these assets through corruption, collusion and nepotism.

Will these meetings be held to transfer or sell the companies
to other parties or to remove traces of the original ownership to
certain other people? It must also be assumed that the old owners
will have fresh money which may be transferred abroad or to
unknown third parties. In this way they can sell these assets
quickly, just like what has happened to the assets of BHS Bank.

The government, therefore, must always be alert as otherwise
it will be taken caught off-guard. Thank God the Attorney
General's Office will probe the assets of these people.

So, supervision and monitoring must continue to be undertaken.
All assets assumed to have been acquired through corruption,
collusion and nepotism must be returned to the state and must not
be allowed to disappear into thin air.

Eddy Tansil is a case in point. Through practices of
collusion, corruption and nepotism, he has got away with Rp 1.3
trillion. He is still at large although it is said that we have a
specially trained unit to deal with problems like this.

GUS-TYANA

Cikampek, West Java