Stumbling Block for the New Board - Economy - magz.tempo.co

Stumbling Block for the New Board

Tuesday, September 6, 2005

Bank Mandiri’s new board of directors is extremely concerned over the Bank Merincorp recapitalization case—Rp337 billion in NPLs still remains a complete secret.

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IT seems that Bank Mandiri’s former Managing Director E.C.W. Neloe is not alone in facing a stumbling block in the form of legal action. Once he had completed a road show to several different regions in August this year, Bank Mandiri’s new Managing Director, Agus Martowardojo, also had to face up to the matter of the Bank Merincorp case.

Agus has to answer many questions regarding the taking over of Sumitomo’s shares in Bank Me

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