Bapepam-LK probing Manulife Aset Manajemen

Tuesday, 19/01/2010 00:00 WIB

Bapepam-LK probing Manulife Aset Manajemen

JAKARTA: The Capital Market and Finance Institution Supervisory Agency (Bapepam-LK) has probed the resignation reason of two directors of PT Manulife Aset Manajemen Indonesia.

The directors resignation has caused the company fail to sell new unit of mutual fund.

"We are probing them and in case they are found guilty we will bring it to the PP bureau (investigation bureau)," said investment management bureau chief of

Bapepam-LK Djoko Hendratto to Bisnis last week.

Manulife Aset Manajemen has carried the mutual fund product sale suspension since early January due to the resignation of two out of three boards of directors.

Those two resigned directors include Denny Rizal Thaher as the president director and Li Ming Suryaputra as director. The only active director now is Raymond Gin.

Djoko said the capital market authority will provide permit for mutual fund unit sales to the company is given due to the fact that one of the resigned directors, Li Ming suryaputra, is willing to stay up to unlimited time.

The sanction given to Manulife was based on the Law No. 40/2007 on the obligatorily two directors for a limited company with public wealth management.

The other regulation for the sanction imposition is Bapepam regulation No.V.A.1 on the securities company permit stipulating one of the directors should have an investment deputy manager certification (WMI.

Some resources said Li Ming will work for Manulife up to end of the month or next month at the latest.

Djoko said Li Ming is likely only stay up to end of the month or next month.

If the company has not got the new directors up to that period, the permit for new unit of mutual fund sales will be potentially revoked.

"We only enforce regulation and we only call for commitment from one of the directors to stay on his own willingness. When the deadline is over, we will revoke again."

The authority opens chances for the company to propose new candidate of directors.

Chief commissioner of Manulife Aset Manajemen David Beynon, Director of Ma-nulife Aset Ma-na-je-men Raymond Gin, and Director of Manulife Aset Ma-najemen Li Ming Sur-yaputra were not available for comment yesterday. (Bisnis/iaa)