Lapindo's Debt Swells To IDR 2 Trillion, Will The Government Confiscate Bakrie's Assets?

JAKARTA - The government is still trying to collect the maturing debt of PT Lapindo Minarak Jaya. The amount of debt of the company owned by the Bakrie family has swelled to more than IDR 2 trillion, because it has been due since July 2019.

The Director General of State Assets of the Ministry of Finance Rionald Silaban said that Lapindo's debt as of December 31, 2020 was IDR 2,233,941,033,474. The amount includes principal, interest and penalties to be paid.

"The due date along with the interest and fine should now be above IDR 2 trillion. We will calculate the fine for longer. That's the basis later," he said in a virtual chat with DJKN, Friday, January 28.

Until the maturity date, Lapindo has only paid in one installment on December 20, 2018 worth IDR 5 billion of the total debt of IDR 773.8 billion. There has been no further payment, so the debt is increasing because the fine continues.

According to Rio, Lapindo has requested that the assets in question be confiscated to pay off its debts. However, Rio said, his party prefers that debt payments be made in cash instead of assets.

"The party concerned stated that please take the land. Well, we at DJKN don't necessarily do that, it's true that there is an agreement that says it's a guarantee. But the priority is the payment," he explained.

Rio said that currently the appraisal team is conducting an assessment to calculate the amount of Lapindo's assets if the assets must be confiscated, as a last resort.

Even so, Rio said that no matter what the shortage is, it will still be calculated and must be paid if the amount of assets is less than the amount of debt.

"When later the person concerned states that he cannot pay and must submit a guarantee, we will first see if the guarantee has a value or not. The appraiser has already worked and the assessment has been carried out. Now we are looking at it," he said.