Fictitious Business
Fake Firms, Real Debts
Monday, September 18, 2000
IBRA Closes Down Ongko Group’s Four Fictitious Companies
arsip tempo : 178039384070.
Indonesia’s fickle conglomerates pulled the wool over their eyes many a time, but the Indonesian Bank Restructuring Agency has finally started to take firm action. Last week, this government agency managed to close down four companies owned by the Ongko Group in a hearing at the Jakarta Commercial Court. Already categorized as a "naughty debtor", Ongko would not cooperate in settling debts of more than Rp1 trillion. Although this is not IBRA&
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