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Back to Fronting

Tuesday, December 11, 2007

Transactions involving the assets of PT Timor Putra International and Vista Bella must be stopped. Action must be taken against those who use the fronting method to violate regulations.

. tempo : 178044561110.

“Rather fail with honor than succeed by fraud.”

The wise words of Sophocles would not have crossed the minds of whoever is behind Vista Bella Pratama. Four years ago, this possibly fictitious company—because it is not clear where it is based—managed to buy the assets of PT Timor Putra Nasional from the Indonesian Bank Restructuring Agency (IBRA). With assets of Rp512 billion, Vista took over the rights to collect Timor’s debts valued a

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