Tender: Transparency needed

Tender: Transparency needed

From Warta Kota

Chairperson for the oversight committee of the Indonesian Bank
Restructuring Agency (IBRA) Mar'ie Muhammad recently said that
there was yet more openness, as a result of complaints by many
tender participants in the mass media, about the implementation
of tenders made available at the second stage of a process
enabling portfolios of credit to be extended to corporate
companies.

Regarding transparency about this information, allow me to
state the following:

Firstly, for the public's information, transparency is part of
their human rights so information must be obtained and accessed
by tender participants.

Secondly, this transparency of information may actually be
implemented by means of notices broadcast in the mass media,
where clear requirements will be set.

Thirdly, Regulation No. IX.F.1 of the Capital Market
Supervisory Agency (Bapepam) dated Jan. 24, 1996 on bidding in a
tender may be made an important reference regarding the
transparency of information in the context of a tender.

Fourthly, full disclosure in conjunction with information
transparency will not lure anybody to fall into the abyss of
corruption, collusion and nepotism. It is well understood that
corruption, collusion and nepotism have removed the principle of
equity in business opportunities and successfully sent our
economy into a deep crisis.

Fifthly, it is only proper that the IBRA should give a
transparent explanation to the chairperson of the oversight
committee and also other tender participants dissatisfied with
the treatment of the IBRA in the context of the above-mentioned
corporate credit portfolio tender. In this way, the IBRA can, in
future, execute a tender fairly and openly so that whatever the
outcome of the tender, all parties concerned can accept it.

BUDI PURNOMO

Jakarta