President Susilo Bambang Yudhoyono (SBY), the Democratic Party chief patron, has denied accusations that his party received benefits from the recent initial public offering (IPO) of state owned steel producer PT Krakatau Steel.
"The accusation is libel," SBY said as quoted by kompas.com when addressing the Democratic Party working meeting in Jakarta on Saturday.
The price for the Krakatau Steel’s IPO has been set at Rp 850 per share, far lower than economists’ and analysts’ estimate of Rp 1,150.
Rumors have been circulating that Democratic Party chairman Anas Urbaningrum had met with State Enterprise Minister Mustafa Abubakar.
Even though they admitted to have met each other, the two figures denied that they had discussed matters relating to Krakatau Steel.
source: the Jakarta Post
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» Democratic Party receives no benefits from Krakatau Steel: SBY
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