AIG Danamon, Temasek Case Intervention

Jakarta, Indonesia requested the Government to intervene in the action plan of corporate investors in Singapore, Temasek Holdings Ltd to sell its stake in Bank Danamon to one of the country's bank, DBS.
"The plan was only offered to affiliated parties only, thus closing the opportunities of national banks. So, the Government should have intervened," said economist of the Ec-Think, Iman Sugema, when contacted here on Monday.
He explained, if it continues, in addition to harassing the stakeholders in Indonesia, as well as foreign domination in the national banking system increases the chances of the occurrence of cases of money laundering ('money laundering `).
"Foreign ownership of up to 100 percent of the bank in Indonesia could open the door wide for the case of 'money laundering'," he said.
Thus, he argues, if it is wholly foreign-owned bank, the money the criminals 'money laundering' it was immediately transferred to the country of origin of the owner of the bank.
"Meanwhile, regulators have no authority to act against it. This could be a problem with` G to G '(country to country). Now, if we have bilateral relations with Singapore, "he said.
Imam also said, if the Governments of Indonesia and the House of Representatives had a great commitment to combat money laundering `` discourse on legislation pembatasani foreign ownership can be realized.

"BI and the Parliament should have the courage and good intentions to begin designing what kind of foreign ownership format in the future. It is expected that local banks can take precedence of ownership," he said.
Previously, PT Bank Danamon Indonesia Tbk (Danamon) delivered a notice to the Indonesia Stock Exchange (IDX) of the interest of investors to buy shares of `Asia` Financial (Indonesia) Pte Ltd at the bank.
Temasek-owned Asia Financial Holdings Ltd. has a 67.42 percent stake in Danamon.
Danamon became the target of foreign investors, because the SME credit growth continues to soar high.
Bank led by Henry Ho is still recorded in January 2011 is owned by Asia Financial `` (Indonesia) Pte Ltd (AFI) of 67.42 percent and the rest is controlled by the public.
While 100 percent of shares controlled `` Asia Financial Temasek indirectly through its subsidiaries, including `` Fullerton Financial Holdings Pte Ltd.
DBS is one of the largest financial services group in Asia with operations in 16 markets and is listed in the `` Singapore Exchange (SGX).
DBS was established in 1968 as a development bank in Singapore.