Mivan leaves partnership with Summarecon<\/p>\n
JAKARTA (JP): Publicly-listed property company PT Summarecon
\nAgung said yesterday a foreign contractor, Mivan Ltd., had
\nreneged on their business contract after the British company left
\nthe country in mid-May, leaving behind a long trail of debts.<\/p>\n
In a statement, Summarecon said Mivan, which operated as the
\nmain contractor for Summarecon's apartment project in Kelapa
\nGading area here under the name PT Mivan Indonesia, ceased
\noperations at the height of the social unrest in Jakarta in May.<\/p>\n
"The departure of PT Mivan Indonesia has created problems both
\nto PT Summarecon Agung as the project's owner... and to the
\nsubcontractors and suppliers of PT Mivan Indonesia which have not
\nbeen paid," Summarecon said.<\/p>\n
Since Mivan left the country, the apartment construction has
\nhalted.<\/p>\n
Summarecon said Mivan personnel had not returned to the
\ncountry since the riots because they "felt they did not have the
\nsecurity guarantee from the Indonesian government".<\/p>\n
Summarecon said it had tried to contact Mivan Indonesia to ask
\nabout the continuity of their contracts and to demand the
\nsettlement of payment to Mivan's suppliers and subcontractors.<\/p>\n
"To this day, there has not been a satisfying response from PT
\nMivan Indonesia," it said.<\/p>\n
Summarecon said had also requested help from the commercial
\nsection of the British embassy in Indonesia, but officials said
\nthey could not intervene in a commercial dispute between two
\ncompanies.<\/p>\n
Many foreign embassies evacuated their nationals during the
\nMay riots, in which widespread looting and destruction blanketed
\nthe city.<\/p>\n
Summarecon began the construction of the apartment complex --
\nlower priced than comparable buildings -- in Kelapa Gading
\nPermai, North Jakarta, in June 1996. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mivan-leaves-partnership-with-summarecon-1447893297",
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"sponsor": "Okusi Associates",
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