Sandiaga Uno and Campaign Money
Sandiaga Uno recently made headlines after Prabowo made him his running mate for the 2019 Presidential Election. Sandiaga’s nomination was coupled with controversial allegation made by the Democratic Party’s Andi Arief, that Sandi was chosen in exchange for monetary compensations. The parties were enraged by Andi Arief’s allegation but soon Sandi admitted that he gave money to several parties, albeit not as tributes but as campaign funds.
Bumigas Energi v. Geo Dipa Energi: A New Chapter
The former Managing Director of PT Geo Dipa Energi (Persero) one Samsudin Warsa was accused of fraud by PT Bumigas Energi and stood trial last year. The Panel of Judges of the South Jakarta District Court decided that Samsudin was not guilty. After the verdict was read, we thought the decade-long dispute had ended. But that’s not the case. Both parties decided to continue fighting against each other and currently a trial is being held in the South Jakarta District Court. It is interesting to know that there is allegation of conflict of interests in the dispute caused by the Corruption Eradication Commission (KPK).
On SNP Finance’s PKPU: Deloitte Indonesia
PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU) is still struggling to convince their creditors. Because of the complicated situation, the team of administrators decided to change the financial consultant to examine the Company’s condition. The administrators also asked the creditors from banking sectors to hand-over information on the Company’s account in the banks. In addition to that, Deloitte Indonesia (who supposedly played a crucial role in the case) recently gave written explanations to national media outlets explaining their perspective.
Revisiting Pertamina and the Pertamina Hulu Energi Case
The Attorney General’s Office (AGO) officially detained one Reinerius Bayu Kristanto, the former manager of Merger and Acquisition section at the Upstream Directorate of PT Pertamina (Persero), on August 8, 2018. Bayu was the first suspect named by the AGO in the investigation into the case of alleged irregularities in the purchase of shares of Australia-based ROC Oil Company Limited (ASX : ROC – delisted). Bayu insisted that he is only Karen Agustiawan’s scapegoat. He demanded the AGO to examine Karen as well. This case only adds to the problems surrounding Pertamina.
Law Journal
The KPK has revealed the name of one of the politicians whose house was raided last week related to Amin Santono’s Budget Mafia case. He is one Puji Suhartono, the deputy treasurer of PPP. KPK is yet to confirm the name of the other politician, but the examination continues. So far into this week the KPK has examined several officials from several different regional governments. In other case, the Panel of Judges of the Commercial Court of the Central Jakarta District Court who examined the PKPU lawsuit filed against PT Tiga Pilar Sejahtera Food Tbk (AISA) finally decided to accept the power of attorney held by the legal counsels assigned by Joko Mogoginta et al and to move forward with the trial.
Revisiting Corruption in Indonesian Embassy in Kuala Lumpur
Convict Dwi Widodo, former Immigration Attaché of the Indonesian Embassy in Kuala Lumpur, Malaysia, was found guilty of taking illegal levies on passport arrangement. He’s been sentenced to jail, but questions remain.
Corruption Journal
The Corruption Court of the Central Jakarta District Court recently listened to the prosecutors’ demands for the former Regent of Hulu Sungai Tengah (HST) Abdul Latif, who was arrested in a Sting Operation back in January 2018. The same court also recently registered a new case with one Made Meregawa as the defendant. Made was convicted in a case related to Nazaruddin’s Permai Group scandal. Apart from the aforementioned trials, we learned that the Regent of Central Lampung one Mustafa was convicted several weeks ago, and yet he remains regent to this day.
Ongoing Examinations in the KPPU under New Leadership
Under a new leadership the Business Competition Supervisory Commission (KPPU) continue the examination of cases that have been halted for a while. Last week, the Commission held the hearing on the case of alleged delay in notification of acquisition of PT Cipta Multi Prima’s shares by PT Darma Henwa Tbk (DEWA). Other than that, the KPPU also investigate and examine dozens of other cases.
Law Journal: On MCOR’s Cessie Dispute and PKPU for Alvindo Wahana Trading
After news broke that Tomy Winata had filed a police report against Hartono Karjadi in Bali, news emerged that Fireworks Ventures Limited had also filed a police report against the board of directors of PT Bank China Construction Bank Indonesia Tbk (MCOR). The series of police reports are related to one case, i.e.,the disputes over the debt-claiming rights (cessie) involving PT Geria Wijaya Prestige (GWP). The case is getting even more interesting. Note that the last time Fireworks filed their police reports, two were named suspects by the police. In a different but also complicated case, PT Bank Negara Indonesia (Persero) Tbk was finally able to force PT Alvindo Wahana Trading to restructure its debts as the Panel of Judges granted their petition for Suspension of Debts Payment (PKPU).
Corporate Graft Suspect: Revisiting DGIK
Shares of EPC firm PT Nusa Konstruksi Enjiniring Tbk (DGIK) Tbk inched up 2% to Rp52 last Friday to make a market capitalization of Rp287 billion, not even half of its equity (Rp790.9 billion by June 30, 2018). It is true that both sales revenues and net profit dropped significantly in the first half of 2018. Investors have dumped the shares because of financial risks related to the graft case being investigated by authorities. DGIK is the first corporation named corruption suspect by KPK.