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Master Steel & Bribery/Extortion Case
CEO of PT The Master Steel Manufacturing Istanto admitted he ordered staffs Effendy Komala and Teddy Muliawan to give some money to tax officers because the company is being investigated for an alleged tax crime. Who's behind Master Steel? ,Last Updated ( Thu, 23 May 2013)
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| Fathanah et Labora
Fathanah is middleman between business people and politicians from Islamic party PKS. He is famous for his 'affairs' with some ladies, and of course his generosity. Labora Sitorus, meanwhile, is a low-ranking police officer stationed in Sorong, West Papua, but had over US$150 million transactions in his accounts. So, we have a new phrase 'Fathanah et Labora' to replace the old 'Ora et Labora'. (Wed, 15 May 2013)
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| Going After Mining Corruption & Fraud
Abraham Samad, chief of the Corruption Eradication Commission (KPK), made a very good observation about ironies of mining regencies in the country. Samad called a big irony that luxury cars are parked in the residences of regents of those resource-rich areas, while people live mostly below poverty line. (Sat, 11 May 2013)
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| More Articles |
| • Surya Kertas Declared Bankrupt: Next? | Corruption | Surabaya Commercial Court has on April 16 declared paper manufacturer PT Surabaya Agung Industri Pulp & Kertas (SAIP) Tbk bankrupt in a case filed by Singapore-based Asiabase Resources Pte Ltd for the disputed amount of US$415,035 debts. SAIP vows to fight the court ruling up to the Supreme Court level. | |
| • More Bad News from Berau Coal | Corruption | As if the provision of US$75 million investments in unclear entity was not bad enough, Bumi Plc, controlling shareholder of Berau Coal Energy (BRAU), released more bad news about the coal producing unit's operations late last week. This time, Bumi Plc alerted shareholders about US$94 millions of expenditures related to operations. | |
| • Journal of Law: No 09/2013 | Corruption | In this report: (1) Another 63 moneychangers are kicked out of the business, (2) KPPU Clears Provident Agro Acquisition on Three Companies, (3) Business Disputes of Bank DKI vs PT Mega Prima Mandiri and Bank BRI vs Mulia Group, (4) Bankruptcy of Batavia Air & Divestment of Assets, and (5) Arbitration Case of Churchill Mining vs Government of Indonesia. | |
| • Legal Questions on Pertamina CEO Status | Corruption | National media reported early this month that minister of state-owned enterprises Dahlan Iskan as 'shareholders meeting' has decided to extend the term of Karen Agustiawan as president director of state oil and gas giant Pertamina. There are, however, some legal questions surrounding Dahlan's decision. | |
| • Journal of Law: No 08/2013 | Corruption | The troubled shipping company Berlian Laju Tanker (BLTA) has escaped bankruptcy as creditors support its settlement proposal. Creditors and former employees of the troubled airline Batavia Air, however, were forced to leave a meeting to discuss their receivables from Batavia. Also in this report is the on-going trial of Indosat. | |
| • Journal of Law: No 07/2013 | Corruption | The Corruption Eradication Commission (KPK) is scheduled to reexamine minister of agriculture Suswono, politician from the Prosperous Justice Party (PKS), in the meat graft case implicating former PKS President Luthfi Hasan Ishaq. Also in this report: (1) Magnus Corruption Case, (2) General Djoko Susilo, (3) Hased Remindo's bankruptcy, and (4) PGN-Rimba trademark battle. | |
| • Bankruptcy Case: Surya Kertas | Corruption | Asiabase Resources Pte Ltd has on March 5, 2013 accepted settlement proposal from PT Surabaya Agung Industri Pulp & Kertas (SAIP) Tbk, which gives SAIP a 45-day to settle the dispute. SAIP escapes bankruptcy, for the time being, and placed in the Debt Payment Postponement (PKPU) status for the US$415,035 debts disputed. | |
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