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Thursday, November 25, 2010

BI and Bapepam-LK unite in Bumiputera-NatPac examination

BI / exchange
4/11/2010
By: Irvin Avriano A.

BI and Bapepam-LK unite in Bumiputera-NatPac examination

JAKARTA: Examination and evaluation from Bank Indonesia (BI) to PT Bank ICB Bumiputera Tbk, associated with distribution of discretionary fund (kontrak pengelolaan dana/KPD), which ever occurs, is a result of its cooperation with the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).

"Inspection is the result of cooperation the two of us [Bapepam-LK with BI], although there are parts of each task. Examination There were no results, so more suitable to evaluate said first, saw nothing wrong or not," said Investment Management Bureau Chief of Bapepam-LK Djoko Hendratto to the press this afternoon (4/11/2010).

KPD who sold by the Bank is managed by PT NatPac Asset Management, which is in the process of evaluation of Bapepam-LK and BI for allegedly pocketing distribution permission from the central bank.

The sales of the product have been halted since the middle of this year. The bank has also declared today that they is still responsible for facilitating the disbursement of funds but had not sold and does not serve the extension (for restructuring needs) of the product.

Thus, investors who want to buy or extend the product should immediately contact the NatPac management team.

Djoko also said the investigation by the capital market authority is only see in the part of investment managers side only, whereas the BI from the sales by the bank, which is have divided into different regions.

He also said the investigation together with BI is not impossible that performed well against similar investment products sold in other banks, if any.

He said the current capital market authority is being held KPD evaluation of all existing investment manager (MI).

The evaluation requires all company to transferred all KPD products into investment products with structures have regulated by the capital market regulator, namely the management of customer funds (pengelolaan dana nasabah/PDN) up to April next year.

According to him, at this time NatPac is proposing candidates for director, considering the position is still vacant after the former officials left the position.

However, he said, candidate director of the company, Marusaha Lumban Gaol whose currently serves as president commissioner, can not proposed anymore because he didn't not pass the fit and proper test which was held Bapepam-LK.

This afternoon, Bumiputera management would held a limited press conference to explain the issues related to the KPD.

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