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Conglomerate Debts and the Flawed MSAA

Monday, October 2, 2000

As a debt settlement scheme, MSAA has a lot of defects and needs revision. Amid the pros and cons, the House of Representatives still proposes extra funds for Sjamsul Nursalim.

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Sjamsul Nursalim is not only a major debtor, but also a big controversy-maker. Despite his notoriety as a big-shot debtor—owing Rp28.4 trillion, with cash repayments of only several hundreds of billions—Sjamsul has maintained freedom in the upper class lobby. The owner of a tyre plant who built the largest shrimp breeding pond in Southeast Asia has even visited the presidential palace as a guest of President Abdurrahman Wahid. Once he

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