Mystery of Vanished Rp 23 Billion Capital of Regional State Enterprise in Kulon Progo
A regional state enterprise (BUMD) in Kulon Progo, PT Selo Adikarto (SAK), has ceased operations since July 2025 after becoming entangled in a corruption case. Scrutiny has arisen because capital injected into the company reached tens of billions of rupiah with nothing remaining, whilst the company reported continuous losses.
The Vice Regent of Kulon Progo, Ambar Purwoko, disclosed that the capital injection from the regional budget into PT SAK reached Rp 32 billion. He explained that this capital injection was outlined in Regional Regulation number 7 of 2017 concerning PT Selo Adikarto. The regulation was signed by the Regent of Kulon Progo at that time, Hasto Wardoyo, who currently serves as Mayor of Yogyakarta, on 28 August 2017. In the regulation, specifically in Article 8, PT Selo Adikarto’s basic capital was set at Rp 32,149,300,000.
When met by detikJogja on Wednesday (25 February 2026), Ambar explained that the capital injection had been completely depleted. He also received information from the State Prosecutor’s Office (Kejari) of Kulon Progo that PT SAK consistently incurred losses, despite undertaking numerous projects. “The capital injection from the 2017 regulation is public information available for anyone to verify. The government’s capital injection of Rp 32 billion has completely disappeared,” Ambar explained.
“The regional budget capital injection is exhausted. According to information from the prosecutor’s office, the situation is such that every year the projects show losses despite the work being clear and straightforward, yet there are no profits – this is clearly questionable,” he added.
Ambar stated he does not know exactly what happened within the company, which operates in construction and asphalt processing production. For this reason, he has referred the matter entirely to the State Prosecutor’s Office of Kulon Progo. “We do not know the details because we were not here at that time,” said Ambar. “Regardless, our position from the Kulon Progo district administration is to fully support the prosecution process. Corruption must be eradicated,” he asserted.
Meanwhile, the Intelligence Section Head of Kejari Kulon Progo, Hendra, stated that investigators are conducting investigations to gather evidence. He said a total of 25 witnesses have been examined, including PT SAK management and Kulon Progo regional government officials.
The investigation team has requested a public accountant to calculate the company’s financial reports for the period 2016-2024. The results will be submitted to an auditor to calculate state financial losses. Additionally, the prosecution has requested an investment audit from YKPN Polytechnic to track fund flows during the period 2016-2024 to determine state financial losses in this case.