Dress Up Defective Assets, and the State Loses
Tuesday, July 16, 2002
Thanks to the Financial Sector Policy Committee, the deeply troubled Sinar Mas Group, will be pay off a debt installment worth trillions of rupiah. And just like thatJoint Decree No. 53/1999 is violated!
arsip tempo : 178039140176.
The story begins with the government's Proof of Ownership Certificates (SBH) in Bank Internasional Indonesia (BII),which matured on 30 June. The interesting thing about what transpired was not who got what as regards the SBH, but rather the fact that Sinar Mas Group, which had in the past tried all sorts of ruses to avoid paying its debts, suddenly accelerated its debt repayments. The Group brought forward the repayment of 20 percent of its d
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