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Jakarta Post

Jiwasraya’s losses from investing in questionable stocks reach Rp 13t

  • Riska Rahman and Rizki Fachriansyah

    The Jakarta Post

Jakarta   /   Thu, February 20 2020   /  01:52 am

State-owned insurer PT Asuransi Jiwasraya has claimed that the losses it suffered from investing in several questionable stocks exceed those of social insurer Asuransi Sosial Angkatan Bersenjata Republik Indonesia (Asabri).Jiwasraya president director Hexana Tri Sasongko estimated on Wednesday that the insurer suffered a loss of Rp 13 trillion (US$949.65 million) from its investments in stocks of companies affiliated with businessmen Heru Hidayat and Benny Tjokrosaputro.Both businessmen have been named suspects and detained by the Attorney General’s Office (AGO) in the Jiwasraya corruption case.“The majority of our investment in stocks and equity mutual funds has been impaired and decreased our investment value,” he told the press after a hearing with House of Representatives Commission VI overseeing state-owned companies and trade in Jakarta.He added that the total losses the comp...