Monday, June 12, 2006

Dorodjatun, commissioner at Hero

Former coordinating minister for the economy Dorodjatun Kuntjoro-Djakti has been appointed as independent commissioner at retail giant PT Hero Supermarket Tbk along with another high profile professional Budi Setiadharma, former president director at PT Astra International Tbk.

Hero Supermarket is one of the largest retailers in Indonesia with market capitalization of Rp1.94 trillion as of June 9, 2006, right behind Matahari (Rp1.97 trillion) and Ramayana Lestari (Rp5.13 trillion).
Last week, media quoted Jakarta Stock Exchange (JSX) director saying the authority would ask Hero why the company never paid dividend to shareholders in nine consequtive years since 1997 while the company booked profit along the way (except in 2003). I think Dorodjatun as the new independent commissioner should address the issue for the sake of public interest.
Hero operates four major retail chains---Hero, Guardian, Starmart, and Giant.

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