Legislator asks Timah to recover loans owed by Soeharto family firm
Thursday, February 10 2000 - 04:00 AM WIB
Legislator Pramono Anung urged on Wednesday the state tin mining firm PT Tambang Timah to immediately recover its Rp 281 billion promissory notes issued by securities firm PT Bahana Securities and PT Pentasena Arthasentosa Securities, a firm owned by Siti Hediati Prabowo, the daughter of former authoritarian president Soeharto.
Speaking in a hearing session between Timah and the House of Representatives commission VIII on mining and energy, Pramono said that the investment had turned sour.
He accused Timah for being to "slow" in the effort to recover back the investment because of past relations with the two securities firms, which were among of the underwriter of Timah's initial public offering several years ago.
Pramono said that Timah should have asked the court to put Bahana and Pentasena bankrupt because the two firms fails to repay their debts.
Meanwhile, Timah finance director Ali Darwin said that Timah was doing all it could to recover the loans. He said that out of the US$22 million debts owed by Bahana, some $5 million had been recovered.(*)