Day: December 5, 2023

PT Aneka Tambang (Persero) Tbk (ANTM) is cornered. Nearly three years ago we reported that the Panel of Judges of the Surabaya District Court granted the tort lawsuit filed by one Budi Said against the State-owned company. ANTM was ordered to compensate for the losses Budi claimed (Rp817.4 billion). Several months later the decision was annulled by the High Court, but then the Supreme Court decided in favor of Budi. This case is only one of several legal cases that haunts ANTM, including allegations of corruption. Far from media coverage, ANTM continued fighting against the court’s decision but to no avail. In September 2023, the Assembly of Reconsideration (PK) decided to decline ANTM petition. Budi Said, therefore, won the legal battle, but is this really the end for ANTM? It’s not. ANTM apparently refused to obey the court’s decision so Budi Said filed a PKPU lawsuit towards the end of last week. 

The problems that PT Waskita Karya (Persero) Tbk (WSKT) must face will not end anytime soon. The company failed to fulfill its obligation and is now on the brink of delisting from the IDX. Entering December 2023, two new PKPU lawsuits were filed against the company, one of which was the latest lawsuit from Bukaka Teknik Utama (BUKK), a company controlled by the family of Jusuf Kalla (former vice president, main supporter of Anies Baswedan—president candidate from Nasdem, PKS, and PKB). We’ve been following the dispute for a while now until Jusuf Kalla, familiarly addressed as JK, recently claimed that a State-owned company has Rp300 billion of debts to his company. In addition to the debt dispute, we also know BUKK director Sofiah Balfas, was named as a suspect in a case of alleged corruption related to Waskita Karya.