Sunday, February 19, 2006

Sugiharto Gang accused of squeezing investors

Last week I had a coffee with a respected investment banker. We discussed several issues including the recent anti-graft campaign.
"Anyway, what's your view about the guy, the expert staff of state-owned enterprises ministry," he asked.
"Well, I have no specific information about this guy except those written in the blog," I said.
"I met him several times. My impression, in most occassions, the first hour of our conversation was normally good, but normally entering the second hour, he started to ask me a favor...mainly about projects that he could also participate in or take benefit out of it," he said.
Frankly, I had no chance to cross-check what the investment banker said about the officer mentioned.
But today, when I read the story at that two expert staffs of SOE ministry had tried to squeeze investor, I started to think that the investment banker was telling no lies. went further with the follow-up story that even more interesting that MSOE Sugiharto is indicted in the squeezing-investor scandal.
Here's the story. Legal Aid Agency for SOE (LBH BUMN) announced that it will file a report to Corruption Eradication Commission (KPK) on two expert staffs of SOE Ministry, identified as HL and LM, for an effort to squeeze an investor called PT AKA Prima. This company was about to sign a cooperation agreement (KSO) with PT Kertas Kraft Aceh, a SOE.
According to Habiburrohman, director at LHB BUMN, the expert staffs asked PT AKA Prima to donate Rp10 billion (around US$1.1 million) to a certain political party. "If they don't do that, they threatened the KSO letter will not be signed by Minister of SOE Sugiharto," Habiburrohman said.
AKA turned down the demand and pulled out from the deal. AKA won the deal through a fishy bidding process, the agency also accused. HL and LM recommended AKA to use a brokerage firm PT Indo Premier Securities in the deal. AKA's fate even worse as Indo Premier rejected to return the money deposited by the investor.
"In no way that the minister knew nothing about the squeezing effort as he should sign the KSO letter at the end of the process," Arif P, chairman of founders council of LBH BUMN said.
No responds from the SOE ministry so far. Check out the names in previous articles in this blog, you might get the clue on who's who of the scandal.




Post a Comment

<< Home