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Jakarta Post

Investors skittish on Hartati scandal: Kadin

  • The Jakarta Post

Jakarta   /   Tue, September 25 2012   /  08:36 am

The arrest of Siti Hartati Murdaya earlier this month has made investors less confident in backing businesses in the nation, according to several members of the Indonesian Chamber of Commerce and Industry (Kadin).

Despite strong connections to President Susilo Bambang Yudhoyono personally and to his Democratic Party, Hartati was detained by investigators from the Corruption Eradication Commission (KPK) on Sept. 12.

The tycoon, one of Asia’s richest women, allegedly paid Rp 3 billion (US$318,000) to Buol Regent Amran Batalipu to issue permits to her companies PT Hardaya Inti Plantations (HIP) and PT Cipta Cakra Murdaya (CCM) in Bukal subdistrict in the Central Sulawesi regency.

Following her detention, Hartati resigned from the Democratic Party’s patron board and from the prestigious National Economic Committee.

Biben Akbar, Kadin’s head of inter-committ...