Maybank Speaks Out on Attorney General's Investigation into Salim Ivomas

PT Bank Maybank Indonesia Tbk has spoken out regarding the investigation by the Attorney General’s Office (Kejagung) related to PT Sawit Ivomas Pratama. In a press statement, Maybank stated that its actions were part of a cooperative attitude towards the authorities.

‘The compliance of Maybank Indonesia employees with the summons is part of the company’s cooperative stance in the process being carried out by the competent authorities,’ a Maybank spokesperson said on Thursday.

‘In providing credit facilities, the company always follows the applicable rules and regulations and adheres to the required analysis and prudential principles,’ the spokesperson emphasised.

‘Maybank Indonesia respects the ongoing legal process. As a banking institution, Maybank Indonesia consistently upholds the principles of good corporate governance, compliance, and applicable regulatory provisions.’

Previously, Malaysian media outlets had widely highlighted reports regarding the Indonesian Attorney General’s Office examining Maybank in relation to PT Salim Ivomas Pratama. Several media organisations, including The Edge Malaysia, Free Malaysia Today, and The Star, published the story citing a Bloomberg report entitled ‘Indonesia authorities question Maybank staff over Salim exports’.

The reports described how ‘Indonesian authorities interrogated bankers at the local unit of Malayan Banking Bhd (Maybank) as part of their investigation into alleged export flows involving the Salim Group’. The coverage linked the news to an investigation launched a month earlier into 10 major Indonesian crude palm oil producers over alleged export price manipulation, although it was unclear whether Salim Ivomas Pratama was included.

‘The questioning focused on transactions related to the export activities of PT Salim Ivomas Pratama, one of the largest palm oil producers in Indonesia,’ the sites wrote, citing sources.

‘Bankers from Maybank Indonesia brought boxes of documents to the Attorney General’s Office last week to face questioning as witnesses,’ the report added.

‘The authorities are examining whether some goods were invoiced below market price in an effort to conceal profits and reduce taxes.’