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Jakarta Post

More SOE bosses in jail raises concerns

  • Ina Parlina

    The Jakarta Post

Jakarta   /   Thu, December 22 2011   /  08:20 am

The conviction of the former president director of PT Perusahaan Listrik Negara (PLN), Eddie Widiono Suwondho, on Wednesday has added to a long list of state-owned enterprises (SOE) bosses ending up in jail for graft.

While SOEs are generally in better shape and more profitable nowadays than in the past, there seems to be no end in sight to the number of graft cases involving company executives.

There are now at least seven more corruption cases under investigation involving former SOE president directors, with the latest being against former state airline Merpati Nusantara boss Hotasi Nababan by the Attorney General’s Office.

But Eddie’s case is one of the high-profile ones, as PLN is the country’s second-largest state company by assets after Bank Mandiri, with annual capital expenditure worth more than US$3 billion.

As the longest-serving PLN presid...