In mid-2019, the police force in several regions started investigating the parties responsible for spreading forest fires. Riau was the first region to announce that it had named a corporate suspect. On August 10, 2020, investigators announced that they had completed the dockets of two corporate suspects and will soon expedite them to the stage of prosecution.

In the last week of July 2020, KT Corporation, South Korea's oldest and largest telecommunications company, filed a lawsuit to the Central Jakarta District Court seeking bankruptcy of PT Global Mediacom Tbk (BMTR). We all know that the parties, including PT Bhakti...

Last week, the Directorate General of Taxation announced victory in a tax dispute case against a so-called fraudulent taxpayer. Several national media outlets quoted this statement and only mentioned the initials of the taxpayer and the Company. This victory is good news for the current taxation climate, but there is a story behind this dispute that is not widely reported. The taxpayer in question is Roni Wijaya, the operational director of PT Dutasari Citralaras, one of the influential parties in uncovering the Hambalang corruption case.

In 2017 we reported on an investigation by the Commercial Affairs Department of the Singapore Police Force (CAD) into a potential contravention of the provisions of the Securities and Futures Act by one Kris Taenar Wiluan—the Executive Chairman and CEO of KS Energy Limited (SGX:578) (KSE)—and his son Richard James Wiluan—the Executive Director of the Company. Last week, KSE announced progress, and soon afterward, news media outlets reported on the case. Kris is now facing allegations together with one other person, while Richard was not charged. 

The investigation and inquisition into corruption in the state-owned insurance company PT Asuransi Jiwasraya (Persero) continues. The first batch of suspects is now standing trial. The trial has revealed details of the scheme. In the meantime, one of the defendants, Benny Tjokrosaputro, is facing multiple lawsuits on Suspension of Debts Payment (PKPU) against him personally and his Companies, including PT Hanson International Tbk (MYRX). Benny escaped the PKPU lawsuit filed against him, but a new lawsuit was filed in July 2020 against PT Armidian Karyatama Tbk (ARMY). The lawsuit was granted in July 2020. ARMY is in the temporary PKPU period. The first meeting of creditors was held on August 6, 2020. To date, ARMY recorded Rp40 billion in debts.

When we talked about the trial on the case of corruption in State-owned insurance company PT Asuransi Jiwasraya (Persero), we mostly discussed Benny Tjokrosaputro’s antics. There is almost no news on the involvement of other parties and defendants in the case. In the hearing held on August 5, 2020, we finally learned more about the involvement of Heru Hidayat, the president commissioner of PT Trada Alam Minera Tbk (TRAM).

In mid-2018, the Corruption Eradication Commission (KPK) conducted a double sting operation in East Java. The Regent of Tulungagung Syahri Mulyo and the Mayor of Blitar Samanhudi were arrested. Both are PDI-P politicians. The investigation into the case in Tulungagung continued after the KPK named Supriyono, the Chair of the Tulungagung DPRD, a new suspect. After several months of trial, Supriyono was found guilty on August 5, 2020. We expect the KPK to continue investigating as there are allegations of involvement of other influential people.

Felda Global Ventures Holdings Berhad (FGV), the world’s largest palm oil producer, through FIC Properties Sdn Bhd, agreed to become a strategic partner of Rajawali Corpora (controlled by tycoon Peter Sondakh) in PT Eagle High Plantation Tbk (BWPT) years ago by acquiring shares of the Company. The deal was sealed in 2017. In the middle of the process, Felda became a subject of corruption probes related to the 1MDB scandal. In mid-2019 Felda’s new Director General Datuk Dr. Othman Omar claimed that Felda was cheated into entering a “one-sided” deal for the sale and purchase of BWPT’s shares. Since then, the “put option agreement” between the parties became a subject of discussions. The agreement makes it possible for Felda to claim all the money it paid plus 6 percent of annual interest should BWPT fail to fulfill its obligations. Rajawali Corpora declared its intention to resolve the dispute through arbitration. It is not a surprise that BWPT can only meet one of its duties. The arbitration stage, unfortunately, takes place in secret.

The trial on the case of corruption in State-owned insurance company PT Asuransi Jiwasraya (Persero) no longer gets as much attention as it did with its first hearing. Even so, the witness examination process continues. On August 3, 2020, the hearing revealed another method allegedly used by Benny Tjokrosaputro to commit the crime. In addition to companies listed on the Indonesia Stock Exchange (IDX) and investment managements mentioned in the trial, Benny is suspected of controlling more than 30 other companies.

On August 3, 2020, the Central Jakarta District Court registered a lawsuit on Suspension of Debt Payment submitted by one Ken Binsar Yaputra. There is almost no information about Ken Binsar other than that his father was the founder of the world-famous Eztu Glass Art. The lawsuit is even more interesting because Ken Binsar personally sued Sungkono Honoris and his wife. What relationship does the executive of a stained glass company have with the owner of PT Modern Internasional Tbk (MDRN)?