Textile producer PT Sejahtera Bintang Abadi Textile Tbk (SBAT) made news after conducting rights issue towards the end of 2021. Tan Heng Lok, the majority shareholder of the company, was the standby buyer. In early July 2022, SBAT delivered the realization of the use of the proceeds from the rights issue, which had all been used. Nothing out of the ordinary so far, until we learned that Tan Heng Lok had recently filed a lawsuit against PT Industri Telekomunikasi Indonesia (Persero) (PT INTI), who is also a shareholder of SBAT.

Towards the end of 2021, in a Meeting with the House Commission VI of the House of Representatives, Minister of State-Owned Enterprises (BUMN) Erick Thohir conveyed the reasons why PT Krakatau Steel (Persero) Tbk could go bankrupt. One of which was allegations of corruption in the company. This statement is by no means surprising, because for years we have wondered why the condition of the only BUMN in its field has not improved despite receiving so much help from the State Budget. The Corruption Eradication Commission (KPK) has been investigating, specifically following the sting operation three years ago. Several parties have been convicted. Then a new round of investigation started, lead by the Attorney General’s Office (AGO). Four months later, earlier this week, the AGO announced they had named five suspects in the case

Nothing is simple when it comes to State-Owned Enterprises (BUMN) in Indonesia. Hundreds of companies that have been operating for decades are more often a burden than a profit, therefore, towards the end of 2021, President Joko “Jokowi” Widodo ordered the Ministry of BUMN under the lead of Minister Erick Thohir to make improvements. Minister Erick then revealed plans to immediately disqualified seven BUMNs, including the State-owned construction company, PT Istaka Karya (Persero). However, before the plan can be carried out, news emerged that the Central Jakarta District Court had granted the request for annulment of the peace agreement that previously saved Istaka Karya from bankruptcy nine years ago. It is interesting to know that there is no record of petition for annulment in the court directory.

The convicts tried to file an appeal, but this effort did not seem to impress the Panel of Appeals that the examination process ended quickly. On May 31, 2022 the High Court decided to reject the appeal through decision No. 219/PID.SUS/2022/PT Pbr. The convicts were noted to have filed cassation to the Supreme Court on July 4, 2022.

The Salim siblings, children of the late Kayo Salim (patron of Fikasa Group), have been found guilty by the Pekanbaru District Court for being proven guilty of investment fraud earlier this year. Assets related to the convicts were also confiscated by the local Prosecutors’ Office, including The Westin Resort & Spa Ubud, which located in Bali.

Djajusman Surjowijono, businessman who once led Gudang Garam, recently filed a tort lawsuit against another company he once led, i.e., PT Onix Capital Tbk (OCAP). In the lawsuit, Djajusman asked for compensation of more than Rp3 trillion.

Hadi Tjahjanto, the newly appointed minister of agrarian reform and national land agency head (BPN), has dismissed BPN officers for their involvement with the so-called land mafia. This is a follow-up to the national police’s decision to name 30 suspects in the new land mafia case.

It has been a while since the Panel of Judges of the Corruption Court of the Central Jakarta District Court sentenced Benny Tjokrosaputro and Heru Hidayat to life imprisonment. They are also obliged to return State losses incurred because of their involvement in the corruption in PT Asuransi Jiwasraya (Persero). But the drama is not over since the Jiwasraya case has many collateral damages. The Attorney General’s Office (AGO) suspended many bank accounts associated by other parties and auctioned assets which is believed to be the result of the crimes, even though it is registered using the name of another party. Not long ago, the AGO’s actions resulted in a new lawsuit from one Utomo Pusposuharto. In court files, Utomo is mentioned repeatedly as a nominee for Heru Hidayat.

Frozen food producer, PT Estika Tata Tiara Tbk (BEEF), who does business with the KIBIF brand, received a disclaimer on its 2021 financial statements after recording a loss equivalent to 93 percent of its paid-in capital. The company went on an IPO in 2019, the worst time to expand its business, as less than a year later, the COVID-19 pandemic hit.Two years later, there’s not much the company can do. This week, KIBIF finally had to face a Suspension of Debt Payment (PKPU) lawsuit.

The sexual violence that occurred at the Pesantren Shiddiqiyah, an Islamic boarding school in Ploso, Jombang, East Java, is another case that has drawn a lot of attention in the past few days. It is a case the Police should take a good care of in order to keep the public’s trust. Perhaps, it’s a momentum for President Joko “Jokowi” Widodo administration to push for the reform in education institution, including pesantren.