Saturday, November 08, 2008

The Wrong Trousers

What's happening with Bumi Resources?

Here is what I've patched together. Anyone with any clarifications etc. please let me know! Hard for me to keep up.

So, Wednesday Mulyani gave the order to lift the suspension of the Bumi Resources stock. Then SBY overruled her.

Mulyani went ape shit, threatened to resign. The suspension was lifted Thursday. The stock dropped 10%, it was atomatically suspended again. Looks like they dropped another 10% on Friday.

So Mulyani got her way it seems. How interesting, look who is wearing to trousers in the cabinet now! Kalla and SBY must be quaking in their boots as Bakrie is their biggest electoral backer, but without Mulyani the Rupiah and IDX would tank leading up to the election.

Bakrie might have slunk around Sidoarjo intact, but he may well come off second best against Mulyani. A return to Suharto style crony capitalism will only hinder Indonesia would eventually dump the country into another Krismon; let's hope Mulyani gets her way!!

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