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Jakarta Post

Mulyani turns up the heat on Tommy

  • Aditya Suharmoko

    The Jakarta Post

Jakarta   /   Sat, August 30 2008   /  06:31 pm

A bold move by the finance minister in seizing Rp 1.23 trillion (US$134 million) owned by a firm linked with Hutomo "Tommy" Mandala Putra has dealt a major blow to the powerful youngest son of the late former president Soeharto. The iron lady Sri Mulyani Indrawati said Friday the fund had been in the ministry's account since Aug. 28, transferred from state-controlled Bank Mandiri amid an ongoing legal battle. "(The transfer) is an effort to help secure state assets," she said in a press conference. Bank Mandiri president director Agus Martowardjojo said the transfer had already cleared. The ministry is in dire need of extra funds to help plug a widening state budget deficit of Rp 94.5 trillion. The Rp 1.23 trillion seized from Tommy will at least help reduce the state coffer burden, as it is estimated to be equivalent to the cost o...