Sri Mulyani Confiscates 4.7 Million Meters of Texmaco Land, Bonuses for 2 Schools
The government through the Task Force for Handling State Claims for the Bank Indonesia Liquidity Assistance Fund (BLBI) confiscated the land of one of the BLBI debtors, the Texmaco Group, covering an area of 4,794,202 square meters. It is revealed that there are two schools.
Minister of Finance (Menkeu) Sri Mulyani Indrawati explained that the school is owned by the debtor, the Texmaco Group.
"Regarding today's confiscation because at the same time in the complex there is a technical high school and a vocational high school owned by Texmaco," he said at a press conference, Thursday (12/23/2021). The former managing director of the World Bank explained that the schools will continue to operate as usual but the assets are now taken over by the state.
"And the government will continue to coordinate, including with relevant ministries so that schools can continue to run, the community will not be harmed but (Texmaco's) obligations to the state will be gradually returned," he explained. plots of land located in 5 areas.
"587 plots of land located in 5 regions, namely Subang, Sukabumi, Pekalongan, Batu, Padang with a total area of 4,794,202 square meters," explained Mahfud.
Coordinating Minister for Political, Legal, and Security Affairs (Menko Polhukam) Mahfud MD said the country had just collected the collection proceeds from Bank Indonesia Liquidity Assistance (BLBI) obligors amounting to Rp314 billion. The funds go to the non-tax state revenue treasury (PNBP).
"In the first stage of summoning and collecting obligors and debtors, we have managed to record non-tax state revenues into the state treasury of 313,945,930,844 or rounded up to Rp314 billion," Mahfud said in a press conference, Thursday (23/12).
In terms of physical control of assets, the state only controls 8,329,412 square meters of obligors. According to Mahfud, the BLBI Task Force has determined the status of the use of these assets to eight ministries/agencies (k/l) and the Bogor City Government (Pemkot).
"Determining the status of use and grants to eight ministries and institutions as well as the Bogor City Government with a total area of 443,970 square meters and Rp1,149,894,359,449," he said. From the collection, the state obtained collateral assets of one of the obligors with the initials SS located in West Jakarta and Dompu, NTB.
"The total area (assets belonging to the obligor SS) is 100,848 square meters," concluded Mahfud.
Texmaco PHP Pays IDR 29 T Debt Since 98, Here's the Chronology
The government through the Task Force for Handling State Claims for the Bank Indonesia Liquidity Assistance Fund (BLBI Task Force) has finally succeeded in seizing the assets of one of the BLBI debtors, the Texmaco Group. The assets seized were land with an area of 4,794,202 square meters.
The Minister of Finance (Menkeu) Sri Mulyani Indrawati also revealed the initial chronology, namely, during the 1998 financial crisis, the Texmaco Group borrowed money from various banks, ranging from state-owned banks to private ones.
"Then the banks were bailed out or bailed out by the government during a crisis and bank closures," he said at a press conference, Thursday (12/23/2021). The recorded loans from the Texmaco Group, continued Sri Mulyani for the engineering division, reached Rp 8.08 trillion and US$ 1.24 million. Then for the textile division, there is a loan of Rp 5.28 trillion and US$ 256.59 thousand. Not to mention encroached on loans in other currencies.
style="text-align: justify;">These debts were in a non-performing state at the time of the crisis so that when the banks were bailed out by the government, the claim rights from the banks that had been taken over by the government were transferred to the National Bank Restructuring Agency (IBRA). a crisis occurred so that when the government bailed out the banks, the claim rights from the banks that had been taken over by the government were transferred to the National Bank Restructuring Agency (IBRA).
"And in this process, the government has been quite supportive of the Texmaco Group, including at that time precisely because the textile division was still running, the government through BNI bank provided guarantees for its L/C (Letter of Credit)," Sri explained. Mulyani.
In the process, the Texmaco Group has entered into an agreement or agreement with the government regarding a master of the restructuring agreement. It is self-signed by the owner of Texmaco. In this regard, it has been agreed that the debts of the 23 operating companies of the Texmaco Group will be restructured and transferred to 2 holding companies appointed by the owners, namely PT Jaya Perkasa Engineering and PT Bina Prima Perdana.