It has been over a year since the Attorney General’s Office (AGO) announced their investigation into the irregularities in Bank Mandiri’s issuance of credit facility to PT Tirta Amarta Bottling (the Company). The investigation commenced after Bank Mandiri asked for assistance from the AGO. At the time, the estimated losses was a little over Rp1 trillion. But the Supreme Audit Agency (BPK) calculated more losses than predicted. Since then, the AGO had announced more suspects in the case, and the trial of the owner of the Company, one Rony Tedy, had begun. Rony Tedy’s own dispute with his former business partner is also on-going in the North Jakarta District Court. But on top of that, the Company was recently forced to restructure its debts after its creditors filed a lawsuit of Suspension of Debts Payment (PKPU).
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