Tuesday, November 21, 2006

CP Prima: Box office image, jockeys!

I got a very interesting letter this morning from an investor who came to Semanggi Expo, Jakarta yesterday to buy CP Prima's shares. He was surprised with the arrival of some 'mobilized buyers' using Metromini (Jakarta's dirty but famous buss service).

He politely asked whether his conclusion was right especially when he read my previous article about jockeys paid to create a long queue for TAME shares offering few weeks ago. In fact I got the same conclusion when I saw the picture in Investor Daily today.
Both TAME and CP Prima use the same underwriter for their offerings, PT Danatama Makmur, and the same strategy too. It gives wrong impression. For some, it's a business, especially for the jockeys. It's difficult to get even one single dollar here. But if they use that to keep misleading public, like in the case of EMP or BUMI with conflicting/confusing statements/impressions, the cost for the nation would be too big.



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