Erry, Torang, dan Ronald approved as new Pefindo officials

BI/exchange

06/04/2010

Irvin Avriano A.

Bisnis Indonesia

Erry, Torang, dan Ronald approved as new Pefindo officials

JAKARTA: PT Pemeringkat Efek Indonesia (Pefindo) approved to two new commissioners, Erry Firmansyah and Torang Napitupulu, and the appointment of Ronald Tauviek A. Kasim as the new president director of the credit rating company.

"They've endorsed the new commissioners and board of directors earlier this week, Erry, Torang, and Ronald. All of the agenda are approved," said Accounting Standards and Disclosure Bureau Chief of the Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) Etty Retno Wulandari yesterday. Etty is a capital market authority officials who supervise the credit rating agency,

Torang Napitupulu currently serves as Pertamina's Pension Fund (Dana Pensiun) president director. Erry Firmansyah is a former president director of PT Bursa Efek Indonesia (BEI/IDX), which currently also serves as a commissioner at several other companies such as PT Unilever Tbk and PT Delta Dunia Makmur Tbk.

Ronald Kasim formerly served in Pefindo as an analyst. He moved to US and Singapore, and ends in PT Bank Permata Tbk as VP Risk Management, until he nominated as newly Pefindo leader. He replaced Pefindo former president director, Kahlil Rowter.

The approvement is set by the company and its shareholder in the annual general meeting of shareholder (AGM) that held earlier this week.

Apparently the AGM and reshuffle of their management is to adapt with the rules of Bapepam-LK No.VC2 concerning Licensing of Credit Rating Company that newly ratified in June last year.

That rule, said Etty, also makes all the directors and commissioners from rating agencies that have been exist and who will register must submit to the fit & proper test, which held by the capital market authority.

Before the legislation was passed, there have been three securities companies that operates, namely Pefindo, PT Fitch Ratings Indonesia, and PT Moody's Indonesia. However, the parent of Moody's closing offices in several places, including Moody's Indonesia, at the beginning of last year due to its global policy.

Pefindo President Director Ronald Kasim, that newly charge in his new position, said in a press release yesterday the appointment of himself as the company's leader accordance with a resolution of AGM of Pefindo, that held on June 2nd.

According to him, that rating agencies do not change the position of two other directors who occupied by Yose Rizal and Salyadi Saputra.

Etty also describes now her bureau are still process potential candidates for directors and commissioners of Fitch Ratings and process the new license of credit rating company for PT ICRA Indonesia.

"There are several candidates for directors and commissioners of Fitch Ratings, most likely next week will begin the process of its fit and proper. But the candidate's name can not be disclosed. "

Currently, she added, Bapepam-LK also are designing new rules that will regulate the trustee in the issuance of bonds in the capital market.

According to her, the draft regulations will be published and will request an opinion from the capital market players in the near time. However, she has not been able to disclose out important points which will be arranged in that regulation.

Trustee is the representation of investors in any bond issuance and a link for the bondholders with the debt issuer's.