Something’s Rotten in the State of BCA
More shady behind-the-scene activities are revealed in the sale of BCA shares. The Salim Group is apparently interested in buying BCA back at a discount price. Many are after easy money, manipulating the bank’s share price at the bourse. Is re-tender the best way?
July 24, 2001
No businessman in their right mind would turn down a good thing like Bank Central Asia (BCA). It’s a giant bank with a dazzling performance. Its assets are approximately Rp96 trillion, with an ATM network all over Indonesia. Its customers number 6 million people. As of March 2001, for example, BCA has Rp6.1 trillion in cash. During the first quarter of 2001, BCA netted a profit of Rp94 billion. Its accumulated profit during year 2000 reach
...