Bapepam-LK recommend Optima suspension

Saturday, 24/10/2009
Bapepam-LK recommend Optima suspension

JAKARTA: Capital Market and Financial Institution Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK) recommend to the Indonesia Stock Exchange (PT Bursa Efek Indonesia/BEI) to suspend all securities traded through PT Optima Kharya Capital Securities.

Bapepam-LK recommendations related to the examination of the case the failure of repaying the discretionary funds (kontrak pengelolaan dana/KPD) who performed by the securities company's subsidiary namely PT Optima Kharya Optima Capital Management.

Yesterday, the authority suspended of the stock trading held by Optima Securities related to the entry of new investors plan.

Chairman of Bapepam-LK Ahmad Fuad Rahmany said suspension taken to avoid further losses for the company's customers and prospective investors who currently wants to buy the company.

According to him, Optima Management allegedly associated with the Optima Securities, so that the need to examine the entire company. "We can recommendations from Sarjito [Inspection and Investigation Bureau Chief of Bapepam-LK] to facilitate the examination, so it's better suspended," he told the press yesterday.

However, he said, the suspension of Optima Securities' stock trading is a right of IDX as a self-regulatory organization (SRO) which oversees securities firms, while Bapepam-LK is only recommended it.

Associated with prospective buyers, Fuad said customers and the public should be careful with the information circulating about the business entity. He said prospective buyers should consider the problems facing Optima Group.

This week, an investor, The Garuda Capital Investama stated intention to acquire the company and bear the obligations of the company.

Request information
Director of Trade and Membership Surveillance of IDX Wan Wei Yiong admitted his side had met with management yesterday and Optima Group was requested more information relating to corporate activities and data customers. In addition, he continued, the stock also requested information about the company's potential investors.

Securities Transaction and Institution Bureau Chief of Bapepam-LK Nurhaida said the securities company was still able to conduct transactions through other securities company, although suspended.

Associated with the new investors, Bapepam-LK will conduct due diligence on next week against Garuda Capital associated with the acquisition group consisting of Optima Securities and Management.

When confirmed, Head of Public Relations & Promotion Optima Group Lidyawati Herdianto justify suspension. He guessed that the stock suspension is related to the transfer of management plans and the owner of, not because of other issues affecting the group. (21)