Bakrie's Innovation

Bakrie & Brothers to Become Portfolio Manager
Friday, 25 January, 2008 | 15:29 WIB

TEMPO Interactive, Jakarta: PT Bakrie & Brothers Tbk. is planning to change its business to a portfolio manager. This measure was carried out after completing the acquisition of three affiliated companies: PT Bumi Resources Tbk., PT Energi Mega Persada Tbk. and PT Bakrieland Development Tbk. amounting to Rp51.3 trillion.

“We're heading more to strategic investment. It could be portfolio manager or private equity,” Gafur Umar, Bakrie & Brothers Managing Director, explained to Tempo in Jakarta yesterday (24/1).

As a portfolio manager, he said, the company will buy and sell assets from inside the country or abroad. Bobby said that Bakrie & Brothers could be a minority shareowner. “It's possible that we invest five percent in Coca-Cola or Microsoft. But we'll see which industry can be maintained for long- and short -term investment,” he said.

By becoming a portfolio manager, Bakrie & Brothers will no longer be involved in its subsidiaries' operational activities. The company will not intervene in the corporate action to be taken by the subsidiaries.

“Bakrie Telecom's rights issue is still ongoing. Then Bumi's acquiring Herald is also ongoing,” said Bobby.
Bobby stressed that the corporate action was the management's initiative, not the family of the Bakries.

So the independent shareholders' support for this action is expected. “Because Bakrie Company, owning 28 percent shares, cannot decide it,” said Bobby.

In preparing the plan, said Bobby, two portfolio managers, CSLA and Danatama Makmur, have researched it. According to their calculation, Bakrie & Brothers' business scale will develop by around five folds if this plan succeeds.

In terms of acquisition, in the first stage Bakrie & Brothers will carry out a rights issue worth Rp40.1 trillion.

As regards market absorption, Bakrie & Brothers' Financial Director, Yuanita Rohali, said she will completely surrender the matter to independent shareholders.

Tanah Negara Di Taput Dijual

Senin, 28 Januari 2008 03:00 WIB
Pengusutan Kasus Hutan Register Di Taput Dapat Dukungan
Tarutung, WASPADA Online

DPRD Tapanuli Utara (Taput) sangat mendukung gebrakan Kepala Kejaksaan Negeri (Kajari) Tarutung untuk mengusut tuntas kasus penjualan hutan Register 49 di Kabupaten Taput, dengan mengungkap oknum-oknum yang terlibat didalamnya.

"Kalau benar sudah terjadi penjualan kawasan hutan register, maka itu suatu pembalakan untuk kepentingan person atau kelompok. Apalagi tindakan seperti itu sudah merugikan negara. Menyikapinya, dalam waktu dekat tim DPRD Taput akan turun ke Kecamatan Pangaribuan, untuk melihat langsung apakah benar disana ada kawasan register." Ketua DPRD Taput FL Fernando Simanjuntak, SH.MBA pekan lalu mengungkapkan itu.

Menurutnya, tidak ada hak seseorang menjual kawasan hutan negara, apalagi mengalihkannya kepada orang lain sebab kawasan dalam pengawasan Pemerintah. Jaksa sebaiknya mengusut tuntas dan menyidik siapa-siapa yang terlibat didalamnya, sehingga dapat terungkap ke publik siapa yang bersalah. Ini perlu untuk mengantisipasi kemungkinan didaerah lain ada lagi penjualan hutan register, sebutnya.

"Legislatif sangat menyesalkan jika ada orang yang mengatasnamakan hutan register tersebut miliknya ataupun mengatasnamakan seseorang supaya bisa tercapai keinginannya untuk mengolah lahan dan bahan–bahan yang terkandung didalam kawasan hutan register. Kita berharap diusut secara maksimal"ujar Ketua DPRD.

Investment Fraud

Dressel Fraud Victims Hire International Lawyer
Friday, 25 January, 2008 | 16:57 WIB

TEMPO Interactive, Jakarta: The victims of the Dressel investment fraud hired the services of a well-known lawyer, Rajah and Tann-KPMG, for handling the fraud case that occurred.

The Crisis Center Investor Dressel and Wahana Bersama Globalindo's spokesperson, Mahendra Handaya, said that Rajah and Tann-KPMG was chosen as it has the ability in forensic investigation. “We want to trace where the money went to from the cross-country legal aspect,” he said in his press statement at the Sultan Hotel's Executive Club.

The lawyer for the Dressel investment fraud case, OC Kaligis, said R & T-KPMG being hired is proof of the victims' seriousness in fighting so their assets can be returned. “If there is no serious response, what the victims hope will not happen,” he said. The handling of this case by the authorities, according to him, is not maximum yet.

SMS Price Cartel

Natrindo Admits Signing SMS Contract
Thursday, 17 January, 2008 | 16:29 WIB

TEMPO Interactive, Jakarta: PT Natrindo Telepon Seluler (NTS) has acknowledged it also signed a contract for short message service (SMS) price setting with Pt Telekomunikasi Selular (Telkomsel) and PT Excelcomindo Pratama (XL).

This was revealed during a further investigation into SMS tariff setting at the Business Competition Supervisory Commission (KPPU) yesterday (16/1).

Dedie Martadisastra, the KPPU Investigation Assembly Chairman, said NTS signed the contract because as a new player, it had to follow the old players.

“NTS said the contract was signed by the old management,” said Dedie after the investigation in Jakarta yesterday.

Earlier, KPPU had scrutinized new operators, including PT Smart Telecom, PT Bakrie Telecom Tbk. and PT Hutchinson CP Telecommunications.

PT Indosat Tbk. has also given statements during the second investigation.

From the result of the earlier investigation, KPPU found that five operators were suspected of being involved in a SMS price cartel.

“NTS made the contracts with Telkomsel and XL between 2001 and 2003,” said Dedie.

KPPU's Assembly also asked for data regarding SMS basic cost calculation.

NTS has promised to provide the data, but has not yet confirmed when.

The same request was also conveyed to other operators that were also suspected being involved in setting SMS tariffs.

The KPPU Assembly will look into this matter in terms of the investment aspects.

From telecommunication industry cost structure, cost elements for voice service, SMS and depreciation expenses will be seen.

This is because, from there, the break event point estimation can be identified.

The KPPU Assembly will also look at technical, economic and legal elements to prove about the cartel.

From the second investigation result, the allegation of price setting by the new and old players has grown stronger.

On a separate occasion, Telkom Managing Director Rinaldi Firmansyah said that during a period of competition, it is difficult to apply a cartel in the telecommunication industry.

“Almost the same price doesn't mean a cartel,” he said.

DIAN YULIASTUTI

Buy Property In Indonesia Now!!

2008 is Good Year to Buy Property
Thursday, 17 January, 2008 | 18:13 WIB

TEMPO Interactive, Jakarta: Sanggam Sitorus, Marketing Research Manager at PT Bakrie Swasakti Utama, gas said that this year is a good year for the public to buy property.

This is because the political and economic conditions in 2009 will not support the property business.

“You must buy (property) this year because in 2009 the property market will slow down,” he said after the launch of The Wave apartment at the Eat For Health restaurant, Thursday (17/1).

Sanggam reasoned that in 2009 there will be a political event, the presidential election.

In addition, the property market will also be overshadowed by global crude oil prices, which are still above US$90 per barrel.

“Absorption will also go down despite property prices in Indonesia never going down,” he said.

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