Ten Largest Debtors
Salim Group: Total debts - Rp 52.7 trillion, IBRA's total proceeds from sales (as of June 30, 2002) - Rp 16.8 trillion, Recovery rate (as of June 30, 2002) - 33 percent, Category: MSAA *
Soedono Salim, also known as Liem Sioe Liong, is the founding chairman of the Salim Group, who established and owned Bank Central Asia (BCA), the country's largest private bank. Soedono, who reportedly now lives comfortably in Singapore, was considered to be the cash cow of longtime former ruler president Soeharto.
IBRA is currently auditing Salim's assets relinquished to the agency, as the group claims it overpaid its debt.
* Under the Master Settlement and Acquisition Agreement (MSAA), debtors have to settle their debts by ceding assets, valued by auditors as equivalent to their debts, to IBRA
Sjamsul Nursalim: Total debts - Rp 28.4 trillion, IBRA's total proceeds from sales (as of June 30, 2002) - Rp 3 trillion, Recovery rate (as of June 30, 2002) - 12 percent, Category: MSAA
Sjamsul is the former director of the defunct Bank Dagang Negara Indonesia. His bank received Bank Indonesia liquidity support (BLBI) to help cope with a bank run during the height of the economic crisis.
Sjamsul, who also owns the Gadjah Tunggal Group, fled to Singapore last year soon after being released from detention as a suspect. Claiming to have a heart condition, he said he wanted to seek medical treatment in the city-state.
The litigation assistance team for IBRA categorized Sjamsul as a "noncooperative" debtor. The Attorney General's Office is still trying to bring back Sjamsul from Singapore. If that fails, the office says it will present Sjamsul's dossiers to the court for an in-absentia trial.
Mohammad "Bob" Hasan: Total debts - Rp 6.1 trillion, Total assets relinquished - 21 assets, Category: MSAA
The man who is widely known as Bob is the owner of defunct Bank Umum Nasional (BUN). The golfing partner of Soeharto is also a timber tycoon.
He once refused to hand over his assets to IBRA, citing he was serving a six-year jail term in the Nusakambangan Penitentiary for his wrongdoing.
However, in early November this year, Bob decided to cooperate with IBRA, saying through his aide Leo Tanubrata that he would pay his debt with his 21 assets, including several of his industrial forestry estate companies.
Sudwikatmono: Total debts - Rp 1.8 trillion, Total assets relinquished - 3, Category: MSAA
Sudwikatmono is the former owner of closed down Bank Subentra and Bank Surya. IBRA is currently seeking ways to obtain PT Dwi Mitra Nusantara, Sudwikatmono's most prominent asset, which is estimated to be worth Rp 639 billion. Dwi Mitra is the owner of the Radisson hotel.
Sudwikatmono, who is a cousin of president Soeharto, has promised to pay off all his debts by the end of this month. If that happens, IBRA has promised to drop all legal charges against him.
Ibrahim Risjad: Total debts - Rp 639 billion, IBRA's total proceeds from sales (as of June 30, 2002) - Rp 639 billion, Recovery rate (as of June 30, 2002) - 100 percent, Category: MSAA
Ibrahim Risjad, the owner of the closed Bank Risjad Salim, is the only debtor considered to have settled his debt in good faith. Ibrahim also helped Soedono Salim establish and nurture the Salim Group. Ibrahim is waiting for the government to issue papers that release him of all legal liabilities.
Usman Admadjaja: Total debts - Rp 12.3 trillion, IBRA's total proceeds from sales (in estimation) - Rp 3 trillion, Category: MRNIA *
Usman is the former owner of Bank Danamon. He admitted last month that he had given up all hope of settling his debt to the state, claiming he had no assets left to be handed over to IBRA.
Although claiming to be broke, Usman reportedly still lives a luxurious life. The litigation team for IBRA has categorized Usman as noncooperative.
* Under the Master of Refinancing and Note Issuance Agreements (MRNIA), debtors settle their debts by surrendering a combination of their cash and fixed assets to IBRA. Debtors are also obliged to give their personal guarantee if they fail to pay the equivalent of their debt.
Samadikun Hartono: Total debts - Rp 2.3 trillion, Category: MRNIA
Samadikun appears to have followed Usman's lead by also claiming to be unable to settle his debt to the state. The former owner of the defunct Bank Modern said that he had given all his assets to IBRA. The litigation team for IBRA has also labeled him noncooperative.
Kaharudin Ongko: Total debts - Rp 2.3 trillion, Category: MRNIA
Kaharudin, the partner of Bob Hasan in running Bank Umum National, has told IBRA that he had tried his utmost to hand over his assets to cover the debt. However, the litigation team for IBRA has categorized Kaharudin as a noncooperative debtor for failing to fulfill the agreement of ceding his 20 companies to the state. Thus far, only six of his companies have been handed over to IBRA. The Central Jakarta Prosecutor's Office demanded in October this year that the court sentence Kaharudin to 16 years in prison for misusing BLBI funds.
Trijono Gondokusumo: Total debts - Rp 3 trillion, Category: APU *
Trijono Gondokusumo is considered one of the most noncooperative debtors. Frustrated by his uncooperativeness, in mid-November this year, IBRA asked the Attorney General's Office to take legal action against him.
Trijono is the former owner of Bank Putra Surya Perkasa (PSP). Trijono and other Gondokusumo family members have reportedly fled the country, fearing the government would ask for their personal guarantee.
* Under the Deed of Indebtedness Agreement (APU), debtors settle their debts by paying cash to IBRA.
Atang Latief: Total debts - Rp 446 billion, Category: APU
Atang Latief is the owner of liquidated Bank Bira and Bank Tamara. Atang, nicknamed the "Gambling King" for his shares in many gambling businesses in the region, including on Christmas Island, is said to live in Singapore.
Atang has been put on the list of cooperative debtors, who IBRA declared in June 2002 exempt from interest and penalties.
Source: The Jakarta Post's database and clippings of Kontan, Tempo, Swasembada weeklies.