Author: Indra Budiari

Bakrie Files Bankruptcy against Construction Company

Posted by | October 30, 2013 | , , | 0 |

JAKARTA (Yosefardi) – PT Bakrie Construction bring another construction company PT Punj Llyod Indonesia to bankruptcy proceeding. The bankruptcy suit is related to the subcontract agreement between the companies. Aprias Munik, Corporate Legal of the Bakrie Construction, revealed that the lawsuit was based on the US$800,000 debt sourced from platform construction work of PT Pertamina Hulu Energi Offshore North West Java. The contract worth US$4.4 million was signed on July 6, 2011. Aprias explained that the bankruptcy respondent has for several times tried to postpone the payment process with various reasons. The corporate legal claimed that to “teach a lesson” to the foreign company of Indonesian legal system. “There are other companies that also received similar treatment from them (Punj Lloyd), “said Aprias. In the bankruptcy petition, Bakrie Construction also listed PT Dwiguna Jaya Sentosa as another creditor. Punj Lylod reportedly has Rp 447.7 million debt to Dwiguna Jaya....

Read More

Tranka Kabel in Serious Debt Woes

Posted by | October 28, 2013 | , , | 0 |

JAKARTA (Yosfeardi) – Cable producer PT Tranka Kabel is facing a serious debt trouble in its Postponement of Debt Settlement Obligation (PKPU). Based on the claim verification, the company has Rp1.4 trillion debt to 45 creditors. Ivan Garda, the PKPU administrator, revealed that most of the Rp1.4 trillion debt is claimed by banks. Ivan also said the company might face another big claims from creditors as some yet to submit the complete document for the claim. Tranka claimed it got new investor while creditors are seeking for commitment of debt settlement with the investor. Previously the Central Jakarta Commercial Court granted PT Tranka Kabel’s PKPU voluntary petition. With the granting of the PKPU petition, Tranka Kabel has successfully avoided bankruptcy suit. The PKPU petition was Tranka Kabel’s rebuttal of bankruptcy suit filed by CV Setia Mandiri and CV Barlian Jaya Utama. Earlier on October 1st, one of the Tranka’s director Umar Zen was sentenced for 15 years related in the cassation process. The Supreme Court also affirmed Umar’s Rp62.5 billion obligation could be replaced with three years of additional jail time. Umar was previously declared guilty on the investment fraud in PT Asuransi Kredit Indonesia (Askrindo)....

Read More
Dahlan: No High Officials Involved in Diebold Scandal

Dahlan: No High Officials Involved in Diebold Scandal

Posted by | October 28, 2013 | , , | 0 |

JAKARTA (Yosefardi) – Minister of State-Owned Enterprises Dahlan Iskan defended state-owned firms in the bribery scandal implicating Automatic Teller Machines (ATM) company Diebold Inc. He claimed about no high officials involved in the scandal. He said that the “leisure facility” from the US-based company was given to the technical operator level officials. However, surprisingly, Dahlan claimed that he understands why the low-level officers received the facility. “They did not understand (the bribery),” Dahlan added. Previously Diebold Inc agreed to pay US$25.2 million penalty for bribery allegation in China and Indonesia, and falsifying records in Russia. It will also pay another...

Read More
KPK Widens Medical Equipment Graft Investigation to Banten

KPK Widens Medical Equipment Graft Investigation to Banten

Posted by | October 25, 2013 | , , | 0 |

JAKARTA (Yosefardi) – The anti graft body KPK expands investigation of medical equipment corruption to Banten. The investigation is conducted over suspicious 2010-2011 fiscal year. Johan Budi, KPK spokesperson, revealed that KPK’s investigators have been dispatched to Banten. “An investigation team is now working in Serang, Banten, to look for information and documents related to the medical equipment procurement,” said Johan on Oct. 24, 2013. Previously the Supreme Audit Board (BPK) found suspicious indications in the Rp30 billion medical equipment procurement. Airin Rachmi Diany, Mayor of Tangerang, has hinted that she is ready for being questioned by KPK....

Read More
ATM Company Settles for Bribery of Indonesian State Banks

ATM Company Settles for Bribery of Indonesian State Banks

Posted by | October 23, 2013 | , , | 0 |

JAKARTA (Yosefardi) – Diebold Inc, US-based Automated Teller Machines (ATM), agrees to payUS$25.2 million penalty for bribery allegation in China and Indonesia, and falsifying records in Russia. It will also pay another US22.9 million to resolve civil charges filed by US Securities and Exchange Commission. It made the company’s total settlement reaches US$48.1 million. On Oct. 22, 2013, US Securities and Exchange Commission charged Diebold for corruption US Court for District of Columbia. The commission accused Diebold made approximately US$3 million in illicit payments in China, Russia and Indonesia. It also filed three claims related to regulations of anti-bribery,...

Read More