Updates on Kutilang Paksi Mas’ PKPU
The process of Suspension of Debt Payment (PKPU) for PT Kutilang Paksi Mas (KPM) continues. KPM has submitted their peace proposal to the creditors. Even though the proposal has been revised a couple of times, some creditors still have not yet agreed to the terms proposed.
The End for Ilham Arief?
The trial on the case of alleged corruption involving the former Mayor of Makassar Ilham Arief Sirajudin is finally over. The panel of judges at the Corruption Court of Central Jakarta District Court decided to sentence Ilham to 4 years in prison with the obligation to pay a fine of Rp100 million subsidiary 1 month imprisonment. In addition, Ilham was also ordered to pay compensation amounting to Rp150 million.
Benoa Bay Reclamation Project: Another Test for Jokowi
Bali Island has been the only province outside Central Java steadily supporting PDI Perjuangan led by Megawati Soekarnoputri in the past few elections. Accordingly it is interesting to follow years of protests from some local groups against reclamation project in Benoa Bay promoted by businessman Tommy Winata.
AAA Investment Escaped Bankruptcy
PT Andalan Artha Advisindo Investment (AAA Investment) has a reason to celebrate. The financial management company once again escaped from bankruptcy after the peace proposal put forward to its creditors was accepted. In the meeting of creditors on February 25, 2016, all 20 creditors of AAA present said they agreed to the provisions stipulated in the peace proposal.
Updates on the Case of Best Buy Indonesia v. MNC
The debt dispute between PT Best Buy Home Shopping Indonesia (Bbuy) and PT Media Nusantara Citra Tbk (MNC) continues. The Central Jakarta Commercial Court should have decided on a peace agreement between Bbuy and its creditors on February 24, 2016. But the reading of the decision was postponed because MNC applied for refusal of decision at the same day.
A New Year for Taxation
The Directorate General of Taxation (Ditjen Pajak) is anticipating an increase in tax reporting, for which it is also preparing itself for an increased number of complaints and objections. The Ministry of Finance is also keen on strengthening its cooperation with the Indonesian National Police (Polri) for tax-related law enforcement measures. In the midst of all that, the the discussion on the Tax Amnesty Bill continues.
Legislative Update: the Bill on the Prohibition of Alcoholic Beverages
The Special Committee formed to discuss the Bill on the Prohibition of Alcoholic Beverages (Pansus RUU Minol) convened on February 25, 2016. The Government attended the meeting and handed over the Problem Inventory List (DIM) for the Bill—the process to assemble this list began in mid-2015. The plan is to discuss the DIM in the next 2 weeks.
Moratorium on the Creation of New Autonomous Region
Last year, in a hearing (RDP) with the House of Representatives (DPR), the Ministry of Home Affairs (Kemendagri) and the House Commission II agreed to reschedule the discussion on expanding and establishing new autonomous regions (DOB). But the Government has finally decided to instead suspend the expansion of DOB in accordance with the decision of the Regional Autonomy Advisory Council (DPOD) led by Vice President Jusuf Kalla on February 19, 2016.
Updates on Nazaruddin’s Money Laundering Case
The trial of Muhammad Nazaruddin’s alleged money laundering case continues. The Corruption Court in Central Jakarta District Court has held hearings for the testimony of Nazaruddin’s former employee. The hearing revealed a number of tricks used by several State-Owned Enterprises (BUMN) to disguise payments to Permai Group, the company of the disgraced ex-Democratic-Party-treasurer.
UU Tapera: Next Steps
In the Plenary Session held on February 23, 2016, the House of Representatives (DPR) agreed to enact the Law on Public Housing Savings (UU Tapera). The Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono represented the President and delivered a speech in the plenary session, highlighting the right of every person to live in physical and spiritual prosperity, hence the need for a family to afford their own home. Now that the Tapera Bill has been enacted into Law (UU Tapera), what process will follow this legislation?