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Thursday, January 14, 2010

Bapepam-LK indicated will grant permission to Manulife Aset Manajemen to sell mutual funds again

BI/bursa
15/1/10
By Irvin Avriano A.
Bisnis Indonesia

Bapepam-LK indicated will grant permission to Manulife Aset Manajemen to sell mutual funds again

JAKARTA: Capital Market Supervisory Agency and Financial Institution (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK) indicated they will grant permission to PT Manulife Aset Manajemen Indonesia to sell new units of mutual funds again, after previously suspended.

Investment Management Bureau Chief of Bapepam-LK Djoko Hendratto, who in charge of mutual funds and investment managers (manajer investasi/MI), said the grant was follow the commitment of one company director who previously had submitted her resignation. The capital market authority suspended the sales after the resignation of two out of the three directors of the fund house.

Suspension of sales for the new mutual fund unit sentenced by Bapepam-LK after Manulife Asset Management Director Li Ming Suryaputra resignation shortly after the resignation of company president director Denny Thaher Rizal last month. So, the person who stays as a company director is only Raymond Gin.

The resignation of two directors had made sales of a new unit of the company's mutual funds are frozen until the company got a replacement one of the directors. However, Djoko continued, the company insisted the company had a commitment from Li Ming to stay at the office until the company inaugurated a new director who will replace her.

"We just received a commitment letter from Mrs Li Ming's related to her commitment to stay until the determined time, hopefully we can send a letter to the Manulife Asset Management tomorrow," he told the press today.

However, Djoko admitted forgetting the date specified Li Ming's deadlines. He added that sales permits for mutual fund's unit revocable if after the specified deadline Li Ming set, Manulife has not got a new directors as co-Raymond.

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