Conflicting statements over PGN?s bond underwriter
Monday, July 7 2003 - 02:55 AM WIB
Officials from the Ministry of State Enterprises have made conflicting statements over the underwriter of the US$200 million bond to be issued by state owned gas distribution and marketing firm PT PGN.
Assistant to the minister?s deputy for strategic industries and telecommunication Jarman said over the weekend in Jakarta that PGN had yet to select the underwriter for the bond.
This is in conflict with the previous statement by assistant to the minister?s deputy for restructuring and privatization Aloysius K. Ro saying the state firm had named Credit Suisse First Boston and PT Asia Kapitalindo as the underwriters.
Jarman insisted that PGN had not yet conducted a selection process.
?All should be decided through a beauty contest. PGN is not allowed to appoint the underwriter without a selection process,? Jarman was quoted by Tempo and Bisnis Indonesia dailies as saying. (*)