Ligwina Hananto: Financial plan cannot include compensation on

TEMPO.CO, Jakarta - Ligwina Hananto often appears on television and at seminars to speak on investment choices, but today she is busy with other issues. In the past week, this CEO of Quantum Magna Financial must answer to charges that she caused well-known TV presenter Ferdi Hasan to lose Rp 12 billion.

Hasan accused Ligwina, his former investment consultant, of advising him to invest in a fictitious company. But Ligwina has denied all charges. "I never said this one would bring profit or that one would be a loser," Ligwina told Tempo reporter Iqbal Muhtarom, in an interview in her office last week.

Ferdi Hasan claimed you gave him inaccurate information on investment choices. 

That is not true. In our contract, I was asked to present a financial plan and to provide the positive and negative sides of one investment. It's not about which one would be profitable, or which would be a loser.

But isn't it true that you advised Ferdi to invest in Panen Mas, a company dealing with cassava? 

Not to invest. When Panen Mas collapsed, we felt a client needed help. I didn't want him to stop investing in agribusiness, so we prepared a re-planting program. When we checked, many people were fighting to get some of the assets, so we prepared a separate location, not at Panen Mas.

Was this compensation for losses?

If you want to see it as compensation go ahead, but I say it was an educational program. The client would be familiar with agribusiness, why this area incurred losses, why the other made money. It was clear which was owned by Ferdi, and which one by other clients. This was the middle way, so that my clients would not lose out too much, because we had a problem with someone running away with the money. So, we helped in preparing the land, so the client can experience what a harvest is like. But he refused, he just wanted compensation for the losses, and I couldn't afford to repay the losses. How can I give cash?

On October 24 last year, you refused to pay him compensation for losses?

Yes correct, there was a meeting and I refused to pay compensation for losses. At the time I said, I want to help in preparing a new replanting program. But he refused, what he wanted was compensation. A financial plan cannot include a compensation plan. This could set a precedent on using financial plans to compensate for failed investments.

You are reported to have received some funds from the Golden Traders Indonesia (GTIS).

I receive no commission from vendors. I can, but with the approval of the client.

We have proof that GTIS money amounting to Rp 1.098 billion went to your account through 24 transactions.

Nothing like that. How can I get Rp 1 billion? I will clarify that in court.

Is it true that you got a share of the investment company?

No, because we are not sales agent, except when clients allow us. Michael Ong once offered it, but I rejected it. Ibu Santi (teak plantation) also offered me shares, but I refused. Clients pay me fees every year, so we don't become rich when their investment turn profitable.

You know Michael Ong?

I know that he's the director. Rather than introduce him to a sales agent, I had Ferdi meet him personally. But I manage introductions for others too.

Two of your employees, Benny Raharjo and Nurfitriavi Nuriman, are registered as founders of Panen Mas?

I was reported to own 30 percent of shares in Panen Mas, as the owner. But that's a lie. I, my husband, my staff have no shares in that company. If it's true, my signature should be in that notarial act and I would have had to invest some capital. But I and my planner never did that.

Have you been summoned by the Financial Services Authority? 

Twice. The first time was by the Investment Work Unit a month ago. I was reprimanded for incurring losses to a client. But I already explained the function of a financial plan.

Were you penalized?

No. OJK just said that when recommending assets, I should be more careful. I have no problems with OJK regarding this issue. (*)