Several months ago, the Commercial Court of the Central Jakarta District Court registered a lawsuit against PT Indonesia Power, a subsidiary of PT Perusahaan Listrik Negara (Persero) (PT PLN). The lawsuit was filed by Liliana Wibisono, the chief of Kinarya Liman Margaseta Consortium (KKLM). It seeks Indonesia Power’s bankruptcy. The lawsuit was withdrawn a month later, but we know that this is a complicated dispute. The South Jakarta District Court examined a different lawsuit. The district court eventually decided in favor of Indonesia Power. However, the Supreme Court later decided to annul the decision and declare that Indonesia Power had defaulted. Indonesia Power refused to accept the decision. It filed a Reconsideration, while Liliana filed another bankruptcy lawsuit. 

Richard Joost (RJ) Lino, the former CEO of State-owned port management company PT Pelabuhan Indonesia II (Persero) (Pelindo II), who is a suspect of corruption, finally faces his trial. The Corruption Eradication Commission (KPK) believes that Lino is guilty despite the controversies.

The Corruption Eradication Commission (KPK) is not done with Jambi. A corruption case in the province was uncovered a few years ago. Dozens of people have been convicted, including the disgraced Governor Zumi Zola. That said, the KPK has not stopped developing its investigation. After naming four new suspects two months ago, towards the end of last week, the KPK announced one new suspect.

Last week the public was shocked by the news that politician Emir Moeis was made a commissioner of PT Pupuk Iskandar Muda (PT PIM), a subsidiary of State-owned PT Pupuk Indonesia (Persero), in February 2021. Emir was convicted of graft in the Tarahan corruption case. Many see this as Minister Erick Thohir breaking his promise to bring about change in State-Owned Enterprises. The Minister had boasted about the “Mental Revolution” slogan of President Joko “Jokowi” Widodo. Yet, he appointed a former graft convict when he could’ve appointed others with a better track record.

The domestic textile industry is struggling, but PT Pan Brothers Tbk (PBRX) takes the problem to another level. The pandemic has taken a toll on the Company’s performance just like other companies in the same industry. The situation deteriorated when one of the Company’s executives was examined as a witness in a corruption case involving State-owned insurance company PT Asuransi Jiwasraya (Persero). In the last week of May 2021, PT Maybank Indonesia Tbk (BNII), filed a lawsuit on Suspension of Debt Payment (PKPU) against Pan Brothers but the lawsuit was denied. Earlier this week we learned that Maybank decided to file another lawsuit, this time seeking Pan Brothers’ bankruptcy.  

On July 30, 2020, after being in dispute for nearly two years, Joko Mogoginta and Budhi Istanto (former executives of PT Tiga Pilar Sejahtera Food Tbk – AISA, now FKS Food) were found guilty of embezzlement. On the same day, the Company’s new management held an incidental public expose to fulfill the requirements demanded by the Indonesia Stock Exchange for the reopening of the Company’s securities trading on the Stock Exchange. AISA has been allowed to recommence its operations in September 2020. In October 2020, Joko and Budhi were indicted for fraud. On Aug. 5, 2021, Joko and Budhi were found guilty, again.

PT Bank Tabungan Negara (BBTN)’s former president director Maryono, who is also a well-known banking figure, has been on trial for graft and money laundering. After several months of proceedings, in the hearing held on Aug. 4, 2021, Maryono and the other defendants were found guilty. That said, it’s a disappointing outcome given that the Panel of Judges ruled out the allegation of money laundering.

Not long ago, the Directorate General of Taxation at the Ministry of Finance said that it would consider the policy of Enforcement of Community Activity Restrictions (PPKM) in exploring potential tax revenues until the end of 2021. In addition to exploring the potential post-PPKM revenues, three revenue optimization agendas will be carried out until the end of 2021, one of which is appointing new collectors of Value Added Tax (VAT) for imported digital products in trading through the electronic system (PMSE). In an official statement released on Aug. 4, 2021, the Directorate General of Taxation announced six new entities obliged to collect digital taxes.

Businessman Henry Soetio, known for his lifestyle and friendship with high-profile politicians, passed away two weeks ago after being exposed to COVID-19. Unfortunately for Henry's family, his death left a problem. Only a few days after Henry's death, the Commercial...

Two years ago, nearing the end of the term of the previous leaders of the Corruption Eradication Commission (KPK), two new inquisitions were announced. One of said inquisitions was related to the case of corruption involving the Ministry of Religious Affairs. The KPK...