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Stabbed in the Back

Tuesday, May 28, 2002

The government has lost Rp400 billion due to suspected price-cutting in trading Indosat shares. PT Merrill Lynch may have been involved. When will Bapepam expose it all?

arsip tempo : 173515458933.

. tempo : 173515458933.

THE Jakarta Stock Exchange was really shaken on Thursday last week. In a private placement carried out by the government, the price of Indosat shares dropped 800 points from its original level of Rp13,200 per share. Trading of Indosat shares was immediately suspended but this did not prevent the material and moral losses involved. There were material losses because the government failed to reap the anticipated proceeds of between Rp1.4 trill

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