ABSTRACT
Economic crisis in Asia will recover properly if both the government and the private sector were collaborated in a better way. It did not mean that there were no such cooperation between both sectors which initiated the crisis, however, a very closed collaboration that tended to cause collusion may be the root of the problem. Economic crisis in Asia demonstrated how countries with a strong economic performance that disregarded control, transparency, and accountability of board of directors had deteriorated the rights of shareholders and, at the same time, waned investors ' trustIn Indonesia, bad governance is always identical with bureacratic problem, mismanagement. DP3KK, one of the government {nstitutions that manage Kemayoran Complex which was established due to State Secretary (Ministerial) Decree to responsible to take advantage of ex-international airport Kemayoran, indicated to experience such problem. BPKK that chaired by the State Secretary was set up with certain working capital, through government regulation June 17, 1985, No. 3111985 on withdrawal of government's asset in public enterprise Angkasa Pura.Concerning the process of DP3KK's establishment without transparency, accountability might not be an expected result. Implementation of such good corporate governance depends extremely on the attitude, behavior, and capacity of the board of director, in positive relationship. In fact, a tendency to precede self-interest of the person in command in. DP3KK has caused a one man show management which tend to be authoritarian without check and balance.In the near future, to prevent such kind of unaccountable management style, any government organization, including DP3KK, should implement good corporate governance which perf~rms some basic principles: tramparency, responsibility, fairness, and accountablity. These good corporate governance principles should be reflected in all management functions, all policies implemented and all organization's document produced.