The sudden downfall of PT Sunprima Nusantara Pembiayaan (SNP Finance), controlled by the Columbia Group, surprised a lot of parties. It caused confusion because before the problems were made known to the public, the Company’s partners believed that it was in good condition as per the financial report arranged with supervision from a well-known independent public accountant. After the problems were revealed to the public, the Financial Service Authority (OJK) suspended the Company’s operational license. Its creditors are now waiting for the Company to restructure its debts. Troubles loom as several parties are reportedly keen on taking other legal steps.To subscribe please click here
