TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Minister claims no links to bailout firm

  • Margareth S. Aritonang

    The Jakarta Post

Jakarta   /   Thu, March 21 2013   /  08:04 am

Trade Minister Gita Wirjawan says that he has cut his ties with PT Ancora Land, a firm reportedly involved in the contentious Rp 6.7 trillion (US$689 million) bailout of Bank Century in 2008.

“I have no ownership of Ancora Land,” Gita told a House of Representatives committee overseeing the Century probe during a hearing on Wednesday. “I have delegated my stake in the company to professionals at the Ancora Group after I joined the Cabinet.”

Gita co-founded the Ancora Group, which is now led by his brother Rianto Ahmadi.

The House committee previously said that it suspected Gita of being involved in the bailout since he had a stake in Ancora Group subsidiary PT Ancora Land, which acquired PT Graha Nusa Utama (GNU) in 2010.

GNU was one of several companies that received bailout money from the now-defunct PT Antaboga Sekuritas, an investment firm mana...