Pertamina suspends finance director

PT Pertamina's Finance Director Alfred Rohimone has been suspended from his position, effective today, over his alleged involvement in the sale of two of the company's oil tankers last year, the Jakarta Post daily reports.

The daily quotes the Minister of State Enterprises Affairs Sugiharto as saying that the board of the commissioners of the oil and gas company has issued a suspension notice to Alfred.

"The suspension will go into effect as of Monday. He (Alfred) has to be suspended to make it easier for the authorities to investigate the corruption," Sugiharto is quoted as saying.

The Business Competition Supervision Commission, the official anti-monopoly watchdog, last week issued a verdict that found Pertamina and its business partners guilty of colluding in the sales of two oil tankers valued at $184 million, which caused $50 million in losses to the state.

The agency ordered Goldman Sachs Group Inc. (GS) to pay IDR79.71 billion ($8.6 million) in penalties and compensation in its role as the consultant for the sales of the vessels to Bermuda-based Frontline Ltd. (FRO) in June.

It ordered Frontline to pay IDR120 billion in compensation and a fine of IDR25 billion.

Goldman Sachs and Frontline said last week that they would challenge the verdict via a Jakarta court.(*)