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Twisted Victory for Far allon

Tuesday, March 19, 2002

It is hoped that the government will gain greater credibility as a result of its BCA divestment. Farallon won because of external factors and also by virtue of the fact that the terms of the tender had to be adhered to.

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THE heavy burden of the divestment of the government's shares in Bank Central Asia (BCA)—greatly colored by political lobbying, demonstrations by thousands of the bank's employees and delays in the announcement of the winner—is now no longer on the shoulders of Laksamana Sukardi, the State Minister for State-Owned Enterprises (SOEs). On Thursday last week, amid much discussion both for and against the divestment, the government annou

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