SEA Games consortium agrees debt repayment<\/p>\n
JAKARTA (JP): The 19th Southeast Asian (SEA) Games
\nunderwriting consortium will pay its debts over the next two
\nyears, starting next month, State Minister of Youth Affairs and
\nSports Agung Laksono said on Friday.<\/p>\n
Agung told a media conference after a meeting with consortium
\nrepresentative Bambang Yoga Soegama that the group of business
\nheavyweights agreed to hand over the case to the police and the
\nAttorney General's Office if they failed to pay off the debts.<\/p>\n
\"They (the consortium) have approved of a legal settlement if
\nthey fail to pay their debts,\" Agung said.<\/p>\n
Consortium boss Bambang Trihatmodjo, one of former president
\nSoeharto's sons, was called to attend the meeting but did not
\nshow up due to \"unavoidable business appointments.\"<\/p>\n
Bambang Yoga escaped a media barrage as he left Agung's office
\nvia the emergency stairs. His absence from the media conference
\nleft the biggest question, how the consortium intends to pay the
\nwhopping debt, unanswered.<\/p>\n
The consortium owes Rp 11 billion (US$1 million) to the Gelora
\nSenayan Management Board, the Jatiluhur water reservoir
\nauthorities and hotels which accommodated participating athletes
\nduring the SEA Games last October.<\/p>\n
It also used Rp 35 billion of the reforestation fund reserved
\nfor use by the Ministry of Forestry. The ministry set the
\ninterest rate at 15 percent per annum.<\/p>\n
Agung dismissed allegations that the government fund had been
\nswindled.<\/p>\n
\"The fund was disbursed to cover training expenses of our
\nathletes selected for the Games. Not one cent of the money went
\nto their personal accounts,\" Agung said.<\/p>\n
In its audited report, the consortium unveiled a Rp 68 billion
\nfinancial loss. It borrowed Rp 23 billion from Bank Artha Graha
\nto ease the deficit.<\/p>\n
Earlier in the day, the Association of Indonesian Wood Panel
\nProducers (Apkindo) handed over a Rp 3 billion grant to help the
\nNational Sports Council cover the air tickets of the 119-strong
\nnational team bound for the 13th Asian Games in Bangkok in
\nDecember.<\/p>\n
Apkindo chairman Abbas Adhar said the association originally
\npledged a Rp 2 billion donation, but agreed to provide another Rp
\n1 billion on Friday after learning of the financial problems
\nfaced by the sports council.<\/p>\n
The council's official in charge of planning and budgeting,
\nSudharno, said the government would disburse its commitment of Rp
\n5.5 billion in November. He said Rp 3 billion of the state funds
\nwould be used to finance the centralized training program which
\nstarted early this month, while the rest would be used to cover
\nthe athletes' transportation to Bangkok. (yan)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/sea-games-consortium-agrees-debt-repayment-1447893297",
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