"Meikarta" is another good reminder, if you invest in Indonesia you will need to do a meticulous due diligence.
The original fine for late delivery in the Meikarta project was 1%, and later unilaterally changed to 0.5%. But not only that; as I understand it, the Indonesian authorities later allow amendment of the contract removing fine for late delivery altogether toward the completion deadline . The amendment removed the "fine clause" for late delivery. This was argued and then done in an effort to help the project's developers overcome the financial challenges they were facing. It is only people who are very naive, can not sense that there must be something happen on the background in this process.
This is another good example how Indonesian conglomerates are generating their wealth. It is about collusion, corruption, bribery, facility, benefiting from internal confidential information, etc. Not many of them (if any) could compete and survive globally in a large scale outside the Indonesian jurisdiction especially in the developed countries with a strong watchdogs, regulators and civil societies.
The case like this will certainly not help the Indonesian government newly launched immigration scheme "Second Home" visa via investing a minimum of 2 billion idr.
Advance Fee scam is one of the oldest scam on earth but it keeps repeating in Indonesia in a large scale.