Updates on BANI’s Feud
The Indonesian National Arbitration Board (BANI) is now divided into two: the BANI whose establishment was initiated by the Chamber of Commerce and Industry (KADIN) and established under the BANI Statute in 1977 (BANI Mampang), and the BANI whose formation was initiated by Anita Kolopaking et al and recognized by the Ministry Law and Human Rights in June 2016 (BANI Sovereign). Both BANI went into a dispute. On July 6, 2017, the State Administrative Court (PTUN) in Jakarta decided to side with BANI Mampang and revoked the decision of the Minister of Law and Human Rights. BANI Sovereign appealed. On July 11, 2017, BANI Sovereign attempted to abort BANI Mampang’s trademark. On July 26, 2017, the BANI Mampang provided their answer to the lawsuit.
Court Rules Against Bayan Resources, Next?
Lucky that Bayan Resources (BYAN) is not a liquid stock. Else, it might have dropped following a ruling from the Singapore International Commercial Court (SICC) in favour of ASX-listed White Energy Co Ltd in a long legal battle against the coal producer regarding coal upgrading project in Kalimantan, Indonesia.
The Soon-to-be Law on AEoI
On May, 2017 the Government published a Government Regulation in Lieu of Law (Perppu) law to regulate Tax Information Exchange Agreement or Automatic Exchange of Financial Account Information (AEoI). The regulation is the Perppu No. 1/2017 regarding Access to Financial Information for Taxation Purposes. By the end of May 31, 2017, the Ministry of Finance published the Ministerial Regulation (PMK) No. 70/PMK.03/2017 containing the technical guidance for the implementation of said Perppu. On the evening of July 24, 2017, the House of Representatives accepted the Perppu and will soon pass it into Law.
AISA and the Rice Mixing Scandal: Clarification and Questions
After the Food Task Force (Satgas Pangan) raided the warehouse of PT Indo Beras Unggul (IBU) on July 20, 2017, arrested dozens of the Company’s employee, sealed the warehouse with its 1,161 tons of rice, and alleged the Company of fraud, the Company through its parent company PT Tiga Pilar Sejahtera Food Tbk (AISA) issued clarifications and rebuttals through various media. In response to the rebuttal, the Minister of Agriculture Amran Sulaiman gave a statement before the House of Representatives. But his statement only made things even more confusing and strange, mostly because the Government cannot firmly explain what they mean by the word “subsidies”.
Another Lawsuit against Tanri Abeng
One general contracting company has filed lawsuit against an entity controlled by Tanri Abeng, chairman of state-owned oil and gas company Pertamina. The plaintiff accused the defendant of breaching contract, and accordingly asks the court to seize Tanri’s house and the complex built by the contractor.
Lawsuit Against ABNR Law (3)
The South Jakarta District Court held the first hearing for the dispute between PT Harsco Dana Abadi, PT Anugerah Tunas Asia, one Harsono Amidjojo and Ali Budiarjo, Nugroho, Reksodiputro Counsellors at Law (ABNR Law), one Philip R Payne, and one Ricky S Nazir. The hearing however was only attended by the plaintiffs’ representatives. The hearing was thus postponed for one week to resume on July 31, 2017. But as we reported before, this is not the first lawsuit filed against ABNR Law.
Lulu Group’s Tax Case: Questions
Lulu Group’s Tax Case suspect Handang Soekarno (who was the head of Initial Evidence Sub-Directorate at the Law Enforcement Directorate in the Directorate General of Taxation) was convicted on July 24, 2017. Handang was found guilty of all charges and sentenced to 10 years imprisonment. Does this mean case closed? What about the other names mentioned in the trials?
AISA and the Rice Mixing Scandal
In the evening of July 20, 2017, the Foodstuff Task Force (Satgas Pangan) consisting of officials from the Ministry of Agriculture, and the Business Competition Supervisory Commission (KPPU), escorted by Directorate of Economic and Specific Crime of the National Police’s Criminal Investigation Unit (Bareskrim Polri) raided the warehouse owned by PT Indo Beras Unggul in Bekasi. The Company was suspected of fraud. The Satgas detained 16 individuals and secured more than 1,100 tons of rice in the warehouse. Shortly after the raid, news circulated that the Company had allegedly repackaged subsidized rice (Rastra), and sold it at a premium. On July 21, 2017, the parent company of PT Indo Beras Unggul, i.e., PT Tiga Pilar Sejahtera Food Tbk (AISA) published an announcement on IDX and denied the accusation.
Update on Multicon’s Insolvency
PT Multicon Indrajaya Terminal was finally declared bankrupt after the Panel of Judges of the Commercial Court of the Central Jakarta District Court granted the bankruptcy lawsuit filed by three Singapore-based investment companies. The decision adds to the list of problems for the holding Company PT Multigroup Logistics Company, who was deemed bankrupt last year.
The E-KTP Graft Case: The End for Irman and Sugiharto
The trial of the two defendants in the electronic identity cards (E-KTP) graft case is over. On July 20, 2017, the Panel of Judges of the Corruption Court of the Central Jakarta District Court issued a verdict with a similar sentence to that demanded by the Public Prosecutors of the Corruption Eradication Commission (KPK). Several important names, however, are missing from the verdict.