On Corruption in Bukit Asam : Court’s Acquittal

In June 2023, the South Sumatera High Prosecutors’ Office (Kejati Sumatera Selatan) announced an investigation into alleged corruption involving corporate actions carried out by PT Bukit Asam Tbk (PTBA). According to the prosecutors’ statement, PTBA acquired shares in PT Satria Bahana Sarana (PT SBS) through its subsidiary, PT Bukit Multi Investama (PT BMI), however, the process was flawed. The prosecutors believe that this error resulted in State losses of more than Rp160 billion. Five suspects were identified and the inquisition process proceeded away from the media spotlight. Later, strangely, the witnesses’ statements actually contradicted the prosecutors’ beliefs and there were allegations of intervention from other companies. This week, unsurprisingly, the defendants have been found not guilty. To subscribe please click here