Left Holding an Empty Bag

Kaharudin Ongko's case confirms IBRA's chaotic management of the Rp600 trillion in state assets it was entrusted with.

To repay his Rp8.34 trillion debt to the state, Ongko, as an owner of Bank Umum Nasional, which had received Bank Indonesia Liquidity Assistance (BLBI) funds, had promised to relinquish his shares in 20 companies, including PT Segitiga Atrium. He did this by agreeing to sign the Master of Restructuring & Notes Issuance

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