Are you ready for Jokowi-Prabowo 2024?

[Samoerai]

.. it wouldn't be surprising to speculate that the funds used for the acquisition of the land at a favourable price, bypassing the tender process, were obtained by simply returning a portion of the loan they received from the bank.

I don't understand what you are saying here.

PS got a bankloan to buy land in Borneo, with the understanding that he could sell it at a higher price to the government (i.e. land for the ibu kota baru)? And then paid back the bankloan? And collect the profit for himself?

 

[pantaiema]

I don't understand what you are saying here.

PS got a bankloan to buy land in Borneo, with the understanding that he could sell it at a higher price to the government (i.e. land for the ibu kota baru)? And then paid back the bankloan? And collect the profit for himself?

The money was lent to Bob Hasan (BH), not PS, with land serving as collateral. They are both friends and part of Suharto's inner cycle.

The bank's primary function is to provide liquidity rather than holding assets. If they decide to offer an asset to someone, it must be significantly lower than the market price, which was originally calculated based on the value of the loan.

For instance, if you secure a $10 million loan (say) based on the valuation of the original assets used as collateral, the value of the collateral must be marked up considerably higher than its actual worth to make it worthy. Now, with the $10 million cash in hand, if you default on the loan, potential sensible investors would be unlikely to acquire those assets for anywhere near the loan amount (e.g$10m), especially without a proper tendering process. In reality, the assets might only be worth a fraction, say 10% (e.g., $1 million), of the loan.

If someone secures a $10 million loan and pays only $1 million upon default, they make a $9 million profit and regain possession of their original asset.

Also, he acquired it in early 2019 (?), a couple of years prior to the official announcement of IKN.
https://kabar24.bisnis.com/read/201...wo-beli-tanah-220.000-hektare-tanah-di-kaltim 21 Feb 2019
The IKN location is in East Kalimantan, PS land is in East Kalimantan ? Is it just a coincidence ?? Maybe who knows ??

 

[Samoerai]

The money was lent to Bob Hasan (BH), not PS, with land serving as collateral. They are both friends and part of Suharto's inner cycle.

The bank's primary function is to provide liquidity rather than holding assets. If they decide to offer an asset to someone, it must be significantly lower than the market price, which was originally calculated based on the value of the loan.

For instance, if you secure a $10 million loan (say) based on the valuation of the original assets used as collateral, the value of the collateral must be marked up considerably higher than its actual worth to make it worthy. Now, with the $10 million cash in hand, if you default on the loan, potential sensible investors would be unlikely to acquire those assets for anywhere near the loan amount (e.g$10m), especially without a proper tendering process. In reality, the assets might only be worth a fraction, say 10% (e.g., $1 million), of the loan.

If someone secures a $10 million loan and pays only $1 million upon default, they make a $9 million profit and regain possession of their original asset.

Also, he acquired it in early 2019 (?), a couple of years prior to the official announcement of IKN.
https://kabar24.bisnis.com/read/201...wo-beli-tanah-220.000-hektare-tanah-di-kaltim 21 Feb 2019

I see .. PS bought the land cheap from the bank, but this Bob Hasan is still in debt to the bank after foreclosure of the land, right? The bank only got a fraction of the loan back after selling the land.

 

[Bob]

I see .. PS bought the land cheap from the bank, but this Bob Hasan is still in debt to the bank after foreclosure of the land, right? The bank only got a fraction of the loan back after selling the land.

Bob Hasan would be getting pretty long in the tooth wouldn’t he?

 

[Samoerai]

Bob Hasan would be getting pretty long in the tooth wouldn’t he?

He was still alive in 2019 when JS bought the land from the bank.

 

[dafluff]

Moderation note:

Thread locked while the moderation team deliberates.

 

[dafluff]

Moderation note:

The thread is reopened with the following adjustments:

1. Bankruptcy discussion was a derail of the original topic of this thread and has been moved to its thread here: https://expatindo.org/community/threads/bankruptcy-in-indonesia.7430/

2. Other derails, particularly arguing about forum rules have been removed. If you have suggestions regarding the rules, you may start a thread in the Forum Talk section: https://expatindo.org/community/forums/forum-talk.16/

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Statements such as "Stop being a tw4t" and "You act smart but you one dumb fuk" are examples of personal attacks in violation of our rules.

Further violations will be met with further progressive enforcement up to permanent suspension of posting rights.

 

[harryopal1]

How is corruption defined in Indonesia? If I am not mistaken Prabowo has massive land holdings in Kalimantan relative to the construction of the new capital. So, will he immediately divest himself from these land holdings were he to become President so there could be no perceived conflict of interest? In a news bulletin a few moments ago, Prabowo declared he will stop corruption?

 

[jstar]

So FREE LUNCH does exist. Well, for quite some governmental officials.

Must be a nice, that trip to Sweden; business class (obviously), some eh …. meetings, look around on fish and veggie markets, buy some oleh2, ….

DPR Delegation Visits Sweden For Free Lunch And Milk Programs

Delegation of Commission IV of the DPR chaired by Budhy Setiawan and Deputy Chairman of Budisatrio Djiwandono made a working visit to Stockholm, Sweden, to prepare a legal framework for the upcoming Indonesian government's free lunch and milk program

voi.id

 

[harryopal1]

So FREE LUNCH does exist. Well, for quite some governmental officials.

Must be a nice, that trip to Sweden; business class (obviously), some eh …. meetings, look around on fish and veggie markets, buy some oleh2, ….

DPR Delegation Visits Sweden For Free Lunch And Milk Programs

Delegation of Commission IV of the DPR chaired by Budhy Setiawan and Deputy Chairman of Budisatrio Djiwandono made a working visit to Stockholm, Sweden, to prepare a legal framework for the upcoming Indonesian government's free lunch and milk program

voi.id

I count 15 delegates. Stone the crows! If you added up the total costs including living away allowance, clothing allowance etc ....? And I wonder how many delegate groups travel in one year checking out other areas of interest?

 

[Samoerai]

So FREE LUNCH does exist. Well, for quite some governmental officials.

Must be a nice, that trip to Sweden; business class (obviously), some eh …. meetings, look around on fish and veggie markets, buy some oleh2, ….

DPR Delegation Visits Sweden For Free Lunch And Milk Programs

Delegation of Commission IV of the DPR chaired by Budhy Setiawan and Deputy Chairman of Budisatrio Djiwandono made a working visit to Stockholm, Sweden, to prepare a legal framework for the upcoming Indonesian government's free lunch and milk program

voi.id

According to him, the visit was also intended to study Sweden's best practices in the fields of animal husbandry, fisheries, and social forestry that could be applied in Indonesia to support the Prabowo Subianto-Gibran Rakabuming Raka's free lunch and milk program.

I don't see how?

 

[jstar]

I think they should visit the Island of Man next, followed by a trip to Brazil.

Then they would understand how to potentially use the sugar cane plantations that were left by the Dutch to make plant based milk cartons.

Plant-based milk cartons for the Isle of Man

Changing the milk packaging to plant-based was important for Isle of Man Creamery's move towards sustainability. Find out more here.

www.isleofmancreamery.com

 

[Balifrog]

All them people criss crossing the world for conferences....


"The 10th World Water Conference is kicking off in Bali from the 18th – 25th May.

This huge international conference will see over 35,000 delegates from over 175 countries and heads of state arrive on the island to discuss water and water-related issues in Nusa Dua."

And then the same people try to explain us we need to control our carbon impact...

And this is not the worst...the last COP (28 ?) conference it was 100.000 people....

 

[Helpful Herbert]

They did some great research on the quality of 5 star hotels in Sweden, as well as checking the business class menu on the flight for some ideas on what they could feed to the children.

 

[jstar]

https://www.livsmedelsverket.se/globalassets/publikationsdatabas/broschyrer-foldrar/riktlinjer-for-maltider-i-skolan.pdf

Any volunteers to translate these 54 pages to Bahasa? Or should we ask the Swedes in Mega Kuningan?

 

[pantaiema]

Offering free lunch and milk was part of PS's manifesto during the general election, so he will have to deliver this promise.

https://www.reuters.com/world/asia-pacific/indonesia-prabowos-school-meal-programme-cost-77-bln-first-year-2024-02-21/

The delegation visit to Sweden appears to be another instance of cherry picking policies, take what it suits you while disregarding others. Notably, Sweden is one of the least corrupt countries globally, whereas Indonesia ranks among the most corrupt countries.

Additionally, reaching many school children in remote areas of Indonesia still face significant challenges due to inadequate infrastructure. The supply and distribution chain for providing these free lunches and milks will involve many intermediaries, raising concerns about control and potential corruption. Past evidence suggests that much of the funding could end up with suppliers and distributors rather than reaching the intended recipients. Also many of these milk and food might be ending up to be sold in the black market

As highlighted by Mahfud MD earlier " ...if corruption in Indonesia's mining sector could be eradicated, every Indonesian citizen could receive Rp. 20 million each month without the need to work"
https://www.cnbcindonesia.com/news/...g-mahfud-md-setiap-orang-bisa-dapat-rp20-juta

Indonesia is not like the least developed countries frequently hit by droughts, starvations; Indonesia is rich in minerals, marine and other natural resources, with ample arable land, forests and seas. However, this wealth is currently enjoyed by only a limited number of people. To benefit the nation, more needs to be done to combat corruption and ensure fair distribution of wealth.

Now that civil society has gained more freedom of expression after the fall of Suharto regime. There is still need a lot of works for stronger anti-corruption measures and campaign.

 

[Helpful Herbert]

Maybe they want to go there so they can try the meatballs at the Ikea restaurant, and check if they are similar to bakso from the warung. [I'm pretty sure they won't be giving any to the kids though]

 

[snpark]

My turn
Laughter is the best medicine. With gambling

Failing NHS trust blew £58,000 sending 14 staff on jolly to Las Vegas

The Princess Alexandra Hospital NHS Trust is rated as 'requires improvement' by the care regulator and ended last year with a deficit of £13million.

www.dailymail.co.uk

 

[harryopal1]

All them people criss crossing the world for conferences....


"The 10th World Water Conference is kicking off in Bali from the 18th – 25th May.

This huge international conference will see over 35,000 delegates from over 175 countries and heads of state arrive on the island to discuss water and water-related issues in Nusa Dua."

And then the same people try to explain us we need to control our carbon impact...

And this is not the worst...the last COP (28 ?) conference it was 100.000 people....

As we move toward more and more AI how long before a super intelligent AI concludes perfectly logically, like Hal, that humans are a threat to life on the planet and should be terminated?

 

[Balifrog]

As we move toward more and more AI how long before a super intelligent AI concludes perfectly logically, like Hal, that humans are a threat to life on the planet and should be terminated?

And you'll find some idiots who will applaud this "progress" !