Sunday, April 1, 2007

[International_Accounting_Standards] Re: Eassy on Accounting

Indosat Gate
http://offshorefinancialcentre.blogspot.com

In Audited Report submited to JSX (Jakarta Stock
Exchange) stated that there is 8 times payment from
June 2001 untill Des 2003, totally US$ 45 Millions to
IntesaBci SpA, Singapore Branch. According to 20-F SEC
2002, former name of IntesaBci SpA was Banca
Commerciale Italiana. According to ACRA (Accounting
and Corporate Regulatority Authority, Banca (Singapore
Branch) in liquidation since May, 1, 2001. And with
new name, IntesaBci SpA, doesn't have a branch office
in Singapore. So, who was received the 8 times payment
from directors of Indosat?

Another point, there is a contradiction between 20-F
SEC 2002 and Audited Report 2004. According to Audited
report the debt was to IntesaBci but According to 20-F
SEC the debt was already taken over by Deustche Bank
AG, London. So, which one we should take for granted?

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