Fawzi's Ikang Suggests LMK To Be Better Only One: For The Sake Of Credibility

Ikang Fawzi (Instagram @ikangfawzi)

JAKARTA - Ikang Fawzi also highlighted the dynamics of royalty management by the Collective Management Institute (LMK). According to the rocker, adjustments need to be made in following the times.

"For example, from the LMK side, the organization has implemented digitalization, professional, transparent must be audited at any time," said Ikang, when met in Jakarta, quoting ANTARA on Wednesday, August 27.

Thus it is hoped that it can overcome royalty problems so that they can be divided properly and on target.

Ikang assessed that the distribution of royalties could not be done fairly because the number of LMK was too large. According to him, there is no need for a lot of LMK to maintain credibility.

"Not yet, because we haven't been able to (distribution of royalty distribution) reach there. So I really hope that LMK won't be too much, if it can be one, it's really credible," he added.

Ikang highlighted the weakness in the LMK system in Indonesia which was too easy to establish the institution. So that more and more gaps are feared to lead to the distribution of royalty whether it is not transparent or not on target.

He emphasized the importance of LMK which was built on the basis of strong management, adequate experience, and readiness of funds in order to distribute royalties.

"Digitalization is a huge investment, not all LMK can finance it. So if there are more and more people who become opportunists just look for percent, so the distribution is not transparent and not on target," he said.

In business, he continued, there is a term barrier to entry, which, if it is increasingly difficult, will be barrier to entry, then it will be even more unwanted.