OJK Expert Reveals PT Tebo Indah and PT PAS Loans Have Been Non-Performing Since 2020

A senior analyst from the Financial Services Authority (OJK), Tito Pratama, has revealed that financing facilities from the Indonesian Export Financing Institution (LPEI) to PT Tebo Indah and PT Pratama Agro Sawit (PAS) have been classified as non-performing since October 2020. Tito provided this information while testifying as an expert in the ongoing corruption trial at the Central Jakarta Corruption Court on Wednesday (29/7/2026).

During the trial, Tito explained that LPEI, as a government financial institution, is obligated to report its monthly financial condition to the OJK. These reports include details of debtors, credit ceilings, outstanding debt balances, and credit quality categorised from collectability 1 to 5. “The historical financing quality data we obtained shows that since October 2020, it has been classified as collectability 5, or non-performing, with the number of days past due reaching 276 days,” Tito stated before the panel of judges.

Tito emphasised that a collectability 5 status indicates a high probability that the outstanding debt cannot be collected. This condition requires the lending institution to establish an allowance for impairment losses due to the potential for real losses to the state.

In this case, public prosecutors have charged eight individuals with alleged corruption related to the provision of financing facilities between 2015 and 2023. These actions allegedly resulted in state financial losses amounting to Rp992.8 billion. The defendants are accused of forcing through the credit approvals even though both companies were deemed ineligible to receive the financing facilities.

The eight defendants implicated in the case include former officials from LPEI’s Sharia Financing Division, namely Andi Maulana Adjie, Intan Apriadi, Gamaginta, Komaruzzaman, Dwi Wahyudi, and Ryan Wahyudi. Also charged are private parties, specifically the Director of PT Tebo Indah, Liu Raymond, and the beneficial owner of both companies, Handoko Limaho.

Prosecutors argued that beyond the debtors’ ineligibility, the inspection process for the collateral and guarantees was not carried out in accordance with applicable procedures, thereby exacerbating the risk of default which ultimately burdened state finances.