Whos Afraid of Big Losses?

A REPORT by the Supreme Audit Agency (BPK) in May 2000 was truly shocking. The Senayan land swap between Industri Sandang I and PT Graha Delta Citra in 1997 turned out to have cost the government Rp121.63 billion. Tempos calculation of damages yielded an even more shocking result: more than Rp1 trillion. In fact, a number of institutions have already warned the government against the exchange and that it would result in a major loss to the state.

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