Sunday, November 19, 2006

Bukit Asam board replaced

Shareholders of state-owned coal mining compant PT Tambang Batubara Bukit Asam (TBBA) Tbk agree to conduct a meeting to appoint new member of the board of directors after the meeting on November 15 accepted the end of tenure of the previous board. Board of commissioner is handling day-to-day operation of TBBA.




Anonymous Anonymous said...

Another BUMN fiasco. This is appalling corporate governance: to fail to appoint a new board. Minorities in the BUMNs are completely at the mercy of the government as to the management of these firms.

Surely, minorities should at least receive warning of proposed changes so they can express their support/opposition. At the moment, the changes can be sprung at the actual EGM with no warning.

November 21, 2006 11:46 AM  

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