| Finance minister backs sanctions four issuers |
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| Friday, 23 July 2010 21:23 | |||||||
Page 1 of 2 JAKARTA: Minister of Finance Agus Martowardojo stock exchange authorities supported the decision to impose sanctions on four issuers, three of which are listed Bakrie Group, following the deposit of recording errors in PT Bank Capital Tbk."What was decided by the Indonesian Stock Exchange (IDX), we believe it is an act that had to be done. So we support and understand. Furthermore of course it is an activity in accordance with standard protocols and processes in the stock, "he said in his office this afternoon. According to him, the incident is a dynamic that happens in the stock market. Most importantly, any error that occurs must be searched for and then followed up the core problem in the form of sanctions or warnings. "And after that we continue activities as usual." So far, he added, his party has not made any specific talks with officials in the Capital Market Supervisory Agency and Financial Institution (Bapepam LK) and subsequent follow-up steps related IDX from the mistakes of recording time at the PT Bank Capital Tbk. In essence, the case should be a lesson to-intsitusi institution under the Ministry of Finance to maintain good governance. "I always order it to Bappepam or institution under Kemenkeu to always maintain good governance. So I believe they will run it well, "he explained. As has been previously reported, IDX dropped a third warning letter and penalty Rp500 million each to the four issuers are three of them listed Bakrie Group, following the deposit of recording errors (mismatches) in PT Bank Capital Tbk. The four issuers are exposed to sanction it is PT Bakrie and Brothers Tbk, PT Energi Mega Persada Tbk, PT Bakrie Sumatera Plantations Tbk, and PT Benakat Petroleum Energy Tbk. By: August Supriadi - (Bisnis.com)
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