BCA Explain the process of taking over 51 percent shares by Djarum in 2000

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7 hours ago

Jakarta, cartitleloans Indonesia
–
PT Bank Central Asia Tbk (
BCA
) Give an explanation of the process of taking 51 percent
share
by
Djarum Group
In 2000 which was accused of violating the law.
BCA Corporate Secretary I Ketut Alam Wangsawijaya gave an explanation of Djarum which was reportedly only paying Rp5 trillion in the acquisition, even though the BCA market value was Rp117 trillion.
According to him, the value of Rp117 trillion was the total assets of BCA at that time, not the company value.
“The Rp117 trillion figure which is often mentioned in the narration refers to the total assets of BCA, not the company’s market value,” Ketut said in information disclosure, Wednesday (8/20).
He said that the market value was determined by the company’s share price on the stock exchange, then multiplied by the total number of shares in circulation.
The BCA stock price, he said, was formed based on the market mechanism since the Initial Public Offering (IPO) in 2000. During the strategic private placement process, the BCA market value was based on the average stock price on the Indonesia Stock Exchange around Rp10 trillion.
“This figure is the reference for the valuation reference during the transaction, not around Rp117 trillion. Thus, the acquisition value of 51 percent of the Farindo Consortium through the tender conducted by the BPPN is a reflection of market conditions at that time.
BCA also gave an explanation of the Rp60 trillion debt to the country and was paid in installments of Rp. 7 trillion per year.BCA stressed that this was not true because the debt was paid off.
“In the balance sheet, BCA has recorded government bond assets worth Rp60 trillion and all have been completed in 2009 in accordance with applicable regulations and laws,” he said.
[Gambas: cartitleloans video]
(DHF/PT)