Indonesia: Agency to ask Energi for clarification on Lapindos sale
The Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) will ask publicly-listed Energi Mega Persana (Energi) for a clarification on the selling of Lapindo Brantas Inc. to Lyte Limited, a Bapepam-LK official said.
“Bapepam will ask for openness in information from Energi mainly on legal and creditor approval aspects,” real sector financial assessment bureau head Nurhaida said here Tuesday.
Bapepam would further study Energi Mega Persada’s decision since Energi was a public company.
Reports said Energi relinquished control of Lapindo by selling its shares in Kalila and Pan Asia to Britain-based Lyte Ltd which was set up in Jersey Island on January 17, 2006.
Energi sold Lapindo for only US$ 2 (two) to minimize financial loss from an uncontrollable hot mudflow in East Java`s district of Sidoardjo.
Energi`s corporate secretary Herwin Hidayat said the selling price was calculated by an independent team based on calculations of amounts that had already been and would be spent by Lapindo to handle the disaster.
The independent team, namely Trustel Capital, calculated that Kalila`s normal market value was (-) US$22.815 million and Pan Asia`s (-) $208,005. (*)
Copyright © 2006 ANTARA
