Flawed and Ill-intentioned

ALL through last week, the hottest topic among the business community was the sale of 100 percent shares of BP and Rio Tinto—the owners of PT Kaltim Prima Coal (KPC)—to PT Bumi Resources at US$500 million. Officials at the Office of the State Minister for State-Owned Enterprises (SOEs), the office handling the KPC divestment program, seemed to be reeling in shock. Those representing the stakeholders, such as the regional and local

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