Rekan-rekan milis OB yang saya hormati, Rekan-rekan milis saham yang saya hormati, (Bang Ian, mohon ijin crossposting) Pak Aria, Ruz7, dan Harry yang saya banggakan, Pak Paul yang baik,
Mohon maaf, saya baru dapat merespon mengenai diskusi hangat mengenai BUMI dan KIPS BUMI di milis kita tercinta sekarang ini, karena kesibukan saya yang tidak bisa saya tinggalkan. Postingan Pak Paul merupakan postingan yang membuka mata. Bisa jadi sebagian besar komunitas pasar modal, terutama Investor BUMI, memikirkan hal yang sama, dan berpendapat sama, namun tidak menemukan jalan untuk sampai kepada kita semua. Untuk hal ini, kita semua, terutama saya, patut berterima kasih kepada Pak Paul. Masalah akuisisi 3 perusahaan oleh PT. Bumi Resources, telah ditanggapi oleh Bapepam (Badan Pengawas Pasar Modal). Tanggapan Bapepam adalah dengan meminta pihak independen untuk melakukan penilaian terhadap penilaian yang dilakukan oleh penilai yang ditunjuk perseroan (Yanuar Bey). Ditunjuklah MAPPI (Masyarakat Profesi Penilai Independen) untuk melaksanakan tugas mulia ini. Langkah Bapepam ini telah memberikan hasil. Sebagian hasil akhir dan akibat-akibatnya kalau tidak salah menyebutkan bahwa regulator menyatakan bahwa Perseroan tidak diwajibkan untuk meminta keputusan RUPS Independen karena tidak material. Ini regulator yang bicara, berdasarkan regulasi atau hukum positif. Dari hasil penilaian MAPPI, ada satu akuisisi yang dinyatakan bermasalah, yakni FBS yang dinyatakan dibeli dengan harga yang kemahalan. Lalu manajemen memberikan reaksi positif terhadap penilaian ini, dengan tindakan negosiasi ulang, bahkan manajemen kalau tidak salah menyatakan bahwa kalau negosiasi ulangnya tidak berhasil, transaksi bisa dibatalkan. Tidak ingin membawa-bawa seluruh anggota KIPS BUMI, saya sekarang ini tidak berbicara mewakili KIPS BUMI. Ijinkanlah saya dibawah ini menyatakan pemikiran dan pendapat saya pribadi. Regulator yang netral (independen, tidak dipengaruhi oleh pihak manapun, dan karena posisinya adalah pemerintahan, tentunya mengambil posisi yang mengayomi seluruh rakyatnya, yang diantaranya adalah emiten maupun investor), meminta bantuan auditor independen (auditor, yang memiliki kode etik sendiri yang sangat dijunjung tinggi) dan manajemen memberikan reaksi positif. Saya tidak melihat jalan lain, selain mendukung hal ini. Anggaplah saya sebagai Investor publik PT Bumi Resources tidak mendukung hal ini, saya bisa apa? Sedari awal sampai sekarang dan selalu disampaikan kepada para wartawan yang bertanya kepada saya (tapi entah mengapa tidak dimuat, mengenai hal ini) bahwa KIPS BUMI hadir untuk mendukung dunia permodalan di tanah air. KIPS BUMI bercita cita untuk dapat melihat bursa yang dipercaya, dengan dorongan bagi para emiten untuk melaksanakan good corporate governance dan transparansi, serta dukungan kepada regulator untuk dapat menjadi wasit dan hakim yang adil bagi kita semua. Betapa rindunya saya, melihat adanya perusahaan yang IPO di BEI, dengan hasil IPO yang akan digunakan untuk bersaing di tataran global! Kalau bursa kita tidak dipercaya, rasanya kita semua tidak akan pernah bisa menyaksikan hal itu. Kalau saya tidak mendukung langkah regulator dan menyampahkan hasil karya rekan sebangsa dan setanah air di MAPPI, apa gunanya buat kita semua? Salam, Oetomo Rully Susanto ======================== "A lot of people die fighting tyranny. The least I can do is vote against it." - Carl Icahn at Texaco annual meeting. Jan. 20, 1988 ======================== ----- Original Message ----- From: jsx_consultant To: obrolan-bandar@yahoogroups.com Sent: Saturday, June 20, 2009 5:40 PM Subject: Re: [ob] Bumi Investors Say: â?~No Probe? No Problemâ?T - APA GUE BILANG! INDO UDAH RUSAK! INVESTOR LUAR LARI SEMUA Pak Paul SUDAH minta maaf dan sudah MENARIK statement yg menyinggung pak Rully... Pak Rully juga menerima permintaan maaf pak Paul kan ?. Case is CLOSED... We are all brother and sister, rite ?. Embah tadi sengaja melepaskan perdebatan ini dimilis untuk menjadi pembelajaran: - Kalo posting, konsentrasi pada masalah dan jangan pada PRIBADI, Kalo pak Paul mengutarakan masalahnya pada pak Rully secara baik baik, kan engga akan ada KERIBUTAN ini. Malah akan jadi topik yg menarik. --- In obrolan-bandar@yahoogroups.com, "Vaulstrad" <vaulst...@...> wrote: > > Sorry rully that me just upset from the article from Jakarta Globe. There is no need to go to court to prove. because i have nothing to prove. > > I am one of the minority shareholder. Of course we depend on you. Please kindly explain why there is sudden change. > > My mistake for my statement. I fully take it back. Hope you forgive me. Of course all statement below are for jokes only. Like margin call etc. But if you take that seriously I am sorry. > > > > > > --- In obrolan-bandar@yahoogroups.com, "Rully" <rullymainsaham@> wrote: > > > > PH, > > > > Would you be kind enough to clarify this allegation? Or should we go to court so you can prove your allegation? > > > > Salam, > > Rully > > > > > > ----- Original Message ----- > > From: PHâ"¢ > > To: obrolan-bandar@yahoogroups.com > > Sent: Saturday, June 20, 2009 12:04 PM > > Subject: [ob] Bumi Investors Say: â?~No Probe? No Problemâ?T - APA GUE BILANG! INDO UDAH RUSAK! INVESTOR LUAR LARI SEMUA > > > > > > > > > > > > > > Even leader / representative of Minority shareholder bisa di beli... ;( > > Takut kali kalau masalah ini berlanjut saham dia nanti kena margin call... jadi boke... dan mendingan jg terima duit dulu dari orang tertentu.... > > > > > > --------------------------------------- > > > > Bumi Investors Say: â?~No Probe? No Problemâ?T > > In 2007, Indonesia was ranked worst out of 11 regional markets in the Asian Corporate Governance Association survey, and, judging by the market regulatorâ?Ts apparent whitewash of the PT Bumi Resources probe, nothing much has changed. > > > > However, despite the potential damage to the credibility of the bourse and the regulator â?" not to mention the interests of small investors â?" it now appears that itâ?Ts a case of â?oout of sight, out of mind,â? with analysts and even Bumiâ?Ts minority shareholders suddenly saying they are happy with the decision of the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK). > > > > In January, the agency launched a probe into the Bumiâ?Ts purchase of three coal firms â?" PT Darma Henwa, PT Fajar Bumi Sakti and PT Pendopo Energi Batubara â?" for a total of Rp 6.18 trillion ($593 million) after an investor and media outcry over allegations that the acquisitions were overpriced. > > > > It was also alleged that the acquisitions amounted to a material transaction requiring the approval of Bumi shareholders â?" which was never given â?" Âand that some of the coal firms were actually affiliated with Bumiâ?Ts owners, the Bakrie group of companies, through obscure cross-shareholding arrangements. > > > > However, after a seemingly interminable probe that included the recruitment of an outside appraiser, the only fault Bapepam could come up with was that the price paid for one of the targets, PT Fajar Bumi Sakti, was Rp 370 billion too high. > > > > But even here Bumi was given an easy way out â?" all it had to do was renegotiate the price and bring it down to a â?oreasonableâ? level, which it says it is now in the process of doing. > > > > The market watchdog also let Bumi off the hook on the material transaction question, saying that since the transactions took place in different fiscal years the issue of materiality did not arise â?" a view that many would consider excessively legalistic given that all of the transactions took place within little more than one week. Dharma Henwa was bought on Dec. 30, Pendopo Energi Batubara on Jan. 5 and Fajar Bumi Sakti on Jan. 7. > > > > Capital market regulations designed to protect the interests of minority shareholders require a company to seek shareholder approval for a transaction if its value exceeds 10 percent of the companyâ?Ts revenue or 20 percent of its market value. In this case, the combined value of the transactions would have required such approval had they not been completed in different years. > > > > On the affiliation issue, Bapepam has completely abandoned its investigation without coming up with any findings, saying that the question is now irrelevant. > > > > Indra Safitri, an independent capital market legal consultant, said that Bapepam had based its actions on the findings of the independent appraiser. > > > > â?oThe other issues become irrelevant if the prices paid are reasonable,â? he said, when asked whether the market watchdog was justified in abandoning its affiliation probe. > > > > Meanwhile, a representative of Bumiâ?Ts minority shareholders, Rully Oetomo, said: â?oWe welcome the fact that Bumiâ?Ts management is willing to renegotiate and seek a better price for Fajar Bumi.â? > > > > Rully said that since the transactions were found to have been nonmaterial, Bumi would not now have to seek shareholder approval. A meeting had been scheduled for this purpose this coming Friday. > > > > â?oWe will not push Bapepam to continue the investigation into the affiliation issue if we are happy with the price,â? Rully said. > > > > But despite the newfound acquiescence of the companyâ?Ts shareholders, doubts nevertheless persist, not to mention concerns over the future of corporate governance here as a whole, with one analyst having aptly characterized the entire affair as â?onothing more than a game.â? > > > > > > Jakarta Globe > > >
