Another Plan to Privatize Merpati
The Ministry of State-Owned Enterprises (BUMN) revealed yet another plan to privatize PT Merpati Nusantara Airlines (Merpati). Will this new plan work?
Recovering State Assets
Last week, Bank Indonesia and the Attorney General’s Office (AGO) agreed to cooperate with the signing of an MoU. This cooperation is built to encourage and promote good governance in both institutions. One of the main focus in this cooperation is to complete the process of recovering state assets.
Saripari v. CIMB Niaga
The Central Jakarta Commercial Court declared the oil drilling contractor PT Saripari Pertiwi Abadi bankrupt on September 14, 2015. But the company had since refused to accept the ruling, and filed for a cassation. But the bankruptcy process continues.
Jaddi Internasional v. Hite Jinro
The dispute between PT Jaddi Internasional against PT Hite Jinro continues. Both parties failed to reach an agreement in a mediation process facilitated by the South Jakarta District Court.
Trading Manipulation: Asabri, Sekawan & Danareksa
What a shame! Market authorities suspension brokerage activities of state-owned PT Danareksa Securities related to allegation of trading manipulation in the shares of PT Sekawan Intipratama Tbk (SIAP). Pretty much as predicted, insurance company owned by Indonesian military got screwed in the process.
Sixth Economic Policy Package: Government Regulations on Water
The Government announced several policies as parts of the Sixth Economic Policy Package. Among said policies is the issuance of a regulation to monitor the continuation of business operations using groundwater resources.
Patrice Rio Capella in Court
The Corruption Eradication Commission (KPK) seems keen to finish the case files of the suspects in the cases of graft involving the Province Government of North Sumatra. In just two months after examining and declaring Patrice Rio Capella as a suspect, the hearing on Patrice’s charges and indictment was held on November 9, 2015 before the Jakarta Corruption Court.
Indar Atmanto Struggles for Justice
The Supreme Court (MA) refuse the request for Reconsideration (PK) filed by the former Managing Director of PT Indosat Mega Media (IM2) Indar Atmanto, who was convicted of graft for causing the state to suffer a 1.3 trillion rupiah in financial loss in the deal for the usage of the 2.1 GHz/3G frequency with PT Indosat.
The 2015 Bung Hatta Anti Corruption Award
The Bung Hatta Anti-Corruption Award (BHACA) honors community leaders who are considered to have demonstrated their anti corruption zeal. This year, the awards go to the former Mayor of Surabaya (2010-2015) Tri Rismaharini and the Regent of Batang (2012-2017) Yoyo Riyo Sudibyo.
RBI v. ACE
Asia Resource Minerals Plc (ARMS) is going through a very turbulent year. Asia Coal Energy Ventures Limited (ACE), the Sinarmas Group subsidiary which acquired the shares of ARMS, is reportedly facing a lawsuit against Raiffeisen Bank International AG (RBI).