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BULLETIN: Penalties on Indonesia's Lippo Bank Signal Tighter Regulation
Standard & Poors, March 2003
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
S&PBULLETIN: Lippo Bank Fine Signals More Regulation Standard & Poor's Ratings Services said today that a fine of Indonesian rupiah 2.5 billion imposed on Lippo Bank Tbk (P.T.) (CCCpi/--/--) by the Indonesian Capital Market Supervisory Agency is an encouraging regulatory development. While an investigation into irregularities in the trading of shares in the bank continues, the fine nevertheless signals a step towards tighter regulations for the financial system as a whole. The Indonesian Capital Market Supervisory Agency has also ordered the bank's current management to explain to shareholders the contradiction between two financial reports released in late 2002. A separate directive by the Indonesian Bank Restructuring Agency ordering a change in the bank's management team later this month will not,...
Companies mentioned in this report are: PT Bank CIMB Niaga Tbk. (Unsolicited Ratings)
Action: S&P Event
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