REPUBLIKA.CO.ID, JAKARTA – Bank Indonesia (BI) claimed being deceived by share purchase agreement of Bank Danamon Indonesia (BDMN) by Singapore DBS Group. The share purchase is not included in the Bank Business Plan (RBB) of BDMN nor DBS Indonesia.

“We cannot detect the corporate action at early stage,” the Director of Directorate of Bank Supervision II of Bank Indonesia, Endang Kussulanjari Tri Subari, said on Wednesday. The Central bank also did not know the acquisition plan between BDMN and DBS Indonesia.

The finding is already told to the banks and both admitted that the agreement was not included in the RBB reported to BI. He said central bank could always examine every corporate action on RBB due to the bank control mechanism.

BI added that corporate strategic plan should be included in RBB. “If it was not included, it could not be approved by BI,” he said. Yet, BI have not imposed any sanction yet. 

“We have not talked about sanction yet because it is still studied,” he said. Central bank will study the compatibility of purchase plan with regulation of state ownership. As for the banks, Central bank still provides an opportunity to include the corporate action in RBB because the bank will review it on mid-year. Yet, the new RBB will not render the share purchase and acquisition on the second semester of 2012.

The share purchase of BDMN, he said, was a lesson for BI. He hopes central bank could detect such action.

He also said that BI was planned to call the representative of Temasek Group, the holder of DBS. Earlier before, BI has called the representatives of Bank Danamon and DBS Group Singapore to explain such corporate action. 

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