THE merger plans of Bank Niaga and Lippo leave lingering problems. Minority shareholders at Lippo Bank feel disadvantaged by the decisions of the controlling shareholders of the two banks, namely Khazanah Nasional Berhad. “The sell option is more advantageous to minority shareholders,” said an investor who insisted on remaining nameless.

Still, the decision is naturally in the hands of the controlling shareholders. Khazanah must choose becau