Corruption Allegedly Involving Palm Oil and Coal Companies Causing IDR 2.5 Trillion in Losses

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Corruption Allegedly Involving Palm Oil and Coal Companies Causing IDR 2.5 Trillion in Losses. Photo by: Special

PALMOILMAGAZINE, JAKARTA – Minister of Finance Sri Mulyani and Attorney General ST Burhanuddin held a press conference at the Attorney General’s office in Jakarta on Monday (18/3), announcing suspicions of corruption involving four major companies.

According to Ketut Sumedana, Head of Public Relations at the Attorney General’s Office, the implicated companies operate in the palm oil, coal, nickel, and shipping industries, identified by the initials RII, SMS, SPV, and PRS. The alleged corruption amounts to approximately Rp 2,505,119,000,000.

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Minister Sri Mulyani stated that these four companies are debtors of the Indonesian Export Financing Institution (LPEI), a government-established institution supporting national-scale export finance. Through an audit process involving the Financial and Development Supervisory Agency (BPKP), the Financial Inspectorate of the Ministry of Finance, and the Attorney General’s Office, indications of wrongdoing by these debtors were uncovered.

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As quoted from BBC, Sri Mulyani also told the government established team from the three instances to investigate every credit issue LPEI. The research team found four debtors have outstanding loans up to Rp 2,5 trillion.

Burhanuddin promised that his institution would follow up the report. The corruption assumption about credit facility to the companies has been detected since 2019 but it was recently reported after getting enough evidences. The case has been handed over to Special Crime to get asset recovery process and their status would be sentenced after having series of investigation by the Attorney. (T2)

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