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Rights Certificates

Cold War at the Kksk

Tuesday, November 5, 2002

A decision made by the Financial Sector Policy Committee (KKSK) regarding rights certificates is somewhat controversial. The decision was apparently made in order to accommodate the interests of the Sinar Mas Group.

arsip tempo : 173513579879.

. tempo : 173513579879.

IT was just one single-page decision that led to the start of Indonesia’s latest cold war. This decision, made by the Financial Sector Policy Committee in June this year, relates to rights certificates belonging to recapitalized banks. The committee decided that the value of these certificates would be based on the recovery level of bank problem loans, up to a maximum of 25 percent. But what was actually behind this decision, which contradi

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