Pressures on Djarum Group
The Supreme Audit Agency (BPK) declared potential loss of Rp1.2 trillion to the State from series of agreements between state hotel operator PT Hotel Indonesia Natour (HIN) and two entities of Djarum Group namely PT Cipta Karya Bumi Indah (CKBI) and PT Grand Indonesia.
Development in the TPPI Case
The National Police’s Criminal Investigation Division (Bareskrim POLRI) has finally detained Raden Priyono, the former chief of the powerful upstream oil & gas regulator body BPMigas in connection with the allegation of graft in the supply of condensates to PT Trans Pacific Petrochemical Indotama (TPPI). This is a breakthrough given that the Police launched their investigation last year, though the continuation of this investigation is also important to watch.
PKPU for Trikomsel
PT Trikomsel Oke Tbk (TRIO) is in their period of Suspension of Debts Payment (PKPU) after being sued by one of its creditor. TRIO is in PKPU for 45 days. On February 11, 2016, TRIO submitted a peace proposal to the creditors, but the creditors have not agreed to the proposal. TRIO only has less than two weeks to complete the negotiation of peace agreements with all of its creditors.
The Insolvency of Tunggal Yudi Sawmill Plywood
PT Tunggal Yudi Sawmill Plywood, a subsidiary of PT Haluan Mitra Abadi (HMA) of Samin Tan appeared to have been declared bankrupt since January 26, 2015 by way of the Suspension of Debt Payment (PKPU) request filed by one of its creditors PT Mulia Permata. But the problem is not over. Tunggal Yudi has reportedly launched a counter attack and sued the Director of PT Mulia Permata Gunawan Tue with charges of embezzlement and fraud.
Kris Wiluan’s Java Star vs Customs Office
Directorate General of Customs and Excise at the ministry of finance requires PT Java Star Rig, a joint venture between KS Drilling Pte Ltd, to pay import duty and fines totalling Rp197 billion. This would negatively affecting financials of KS Energy Ltd.
Legislative Journal: Updates on the Tax Amnesty Bill
Even though the Bill on Tax Amnesty was included in the 2016 list of Prioritized National Legislation Program (Prolegnas 2016), the Government must postpone the discussion on this bill for another time, for it has already decided to approve the request of the House of Representatives (DPR) to instead expedite the discussion on the Bill to amend the Law No. 30/32002 on the Corruption Eradication Commission (KPK).
Legislative Journal : Perpres No. 4/2016
The Government finally issued the Presidential Decree (Perpres) No. 4/2016, which would act as the legal basis to support the acceleration of the Development of Electricity Infrastructure (PIK). This regulation was made by referencing the provisions of the Government Regulation (PP) No. 23/2014 (that amended PP No. 14/2012) on the Business of Electricity and PP No. 79/2014 on National Energy Policy.
Dispute in KOAPGI
The Cooperative Union of Garuda Indonesia’s Aircraft Crew (KOAPGI) is facing a serious problem. The board of KOAPGI is now split into two leaderships and both are arguing and claiming as the legitimate board. This dispute has now entered the court.
The Verdict for Jero Wacik
On February 9, 2016 the Corruption Court of the Central Jakarta District Court sentenced the former Minister of Culture and Tourism Jero Wacik to 4 years in prison, with the obligation to pay a fine of Rp150 million (subsidiary 3 months in prison). The presiding judge Sumpeno said that Jero was found guilty of corruption.
Nazaruddin’s Money Laundering
The trial of the money laundering case involving the former Democratic Party Treasurer Muhammad Nazaruddin continues. The Corruption Court of the Central Jakarta District Court held hearings for the testimony of witnesses from the banks allegedly with knowledge of the case. Additionally, Nazaruddin appeared in court as a witness in 2 different cases related to the case of corruption committed by his company, Permai Group.