JAKARTA: Financial Institution and Capital Market Supervisory Agency is considering the possibility to impose sanction to PT Bakrie & Brothers Tbk on the allegation of the violation in material transaction listing of its subsidiary worth IDR1.37 trillion in financial statement 2010. Head of Finance Assessment Bureau of Service Company Financial Institution and Capital Market Supervisory Agency (Bapepam-LK) Gonthor Ryantori Aziz said the study was conducted after the capital market authority reviewed the recording of transaction in one of Bakries subsidiaries, namely PT Petromine Energy Trading with PT AKR Corporindo Tbk."We have checked and the transaction was not declared in the Bakries balance sheet. But on AKRs balance sheet, the information is listed. Under the rules, it should be listed. For sanctions, we will further examine," he said to the press, yesterday.As it is known, Bapepam-LK reviewed the financial statement of Bakrie since last Wednesday, following news about the lack of recording material transactions in the form of fuel purchase by Petromine from AKR in the 2010 financial statement amounting IDR1.37 trillion. (Bisnis, 27 April)In the 2010 financial statement of AKR, the deal is mentioned clearly. The value is IDR1.37 trillion and included in the income accounts whose value is 10% greater than the total revenue. With revenue position AKR Rp12, 19 trillion, the portion of transactions reached 11.24%.Conversely, in the cost of revenue Bakrie, the transaction is not mentioned. In its financial statement, Bakrie also insisted that no transactions made by the company or its subsidiaries which value above 10% higher than the cost of income.In fact, if Petromine transaction valued at IDR1.37 billion was included in the consolidated financial Bakrie, the portion reaches 15.39% of the total cost carrier business revenues that the Bakrie family, IDR8,6 trillion.Petromine is indirectly controlled Bakrie through its subsidiary in Singapore, Bakrie Energy International Pte Ltd. Bakrie Energy will become Bakrie Petroleum International Pte Ltd by owning 95% stakes of Petromine.Gonthor said the absence of automatic recording of material transactions that indicate violation of Bapepam-LK VIII.G.7 concerning Guidelines for the Preparation of Financial Statements. Sanctions will take offense severity levels.At present, he added, capital market authorities awaiting answers from the mother ship management Bakrie family business was to demand an explanation letter that was sent last weekend. The deadline is Tuesday giving an answer today.He said if Bakrie & Brothers was violated Regulation VIII.G.7, they have restated the transaction information to the public in addition to bear the penalty that will be given.Meanwhile, Head of Corporate Finance (PKP) Real Sector Anis Baridwan said that sanctions can be given to the listed company that violates Regulation VIII.G.7 are various."Just like the recording error in Bank Capital, they incur a fine. But these sanctions depend on the heavy-light violations. Can only be administrative, can also fine. We shall see if the violation is now classified as lighter or heavier, "he said.Separately, Finance Director of Bakrie Eddy Soeparno said the company is ready to give an explanation to the capital market regulator today. He also insisted that there is no violation in the record."Based on our analysis, Bakrie did not conduct any violations. Our explanation to the regulator will strengthen this opinion, "he said without willing to disclose the details on Petromine case.(t03/wiw)

---

Artikel Terkait

Berita Lainnya

Berita Terbaru