Otto Hasibuan Defends China Sonangol From Surya Paloh MPI Company Claims On Indonesian Building 1

JAKARTA - The attorney for PT China Sonangol Real Estate (CS Real Estate) Otto Hasibuan denied a number of claims made by PT Media Property Indonesia (MPI) through the mass media. According to him, what MPI said was detrimental to CS Real Estate.

Otto explained that MPI said that CS had promised and committed to give a 30 percent stake in the joint venture company, namely PT China Sonangol Media Investment (CSMI) and 3 floors of the Indonesia 1 building.

Second, MPI publishes if CS has prevented the addition of Media Group's share ownership in CSMI. And the third is MPI claims that CS has taken a corporate action to transfer shares in CSMI.

"Our client categorically denies all the accusations made by MPI," he said in a webinar held on Tuesday, August 24.

Otto added that his party also regrets several actions taken by MPI, including the installation of announcement billboards at the project site stating that the Indonesia 1 building project is in a legal dispute and reporting to the police and registering the matter to the relevant legal institution.

"Our clients feel aggrieved," he said.

In his explanation, Otto revealed that if there was no evidence or official records or documents found included in CSMI's articles of association that supported MPI's 30 percent share ownership claim.

Two, all official documents show that MPI owns 1 percent of shares in CSMI and not 30 percent. Three, there is no legal basis for MPI to stop or warn CS from corporate action against its own shares, because CS and CSMI are two separate or different legal entities.

“To clear up misunderstandings, CS is a foreign investor and a business partner in good faith, who has tried to resolve misunderstandings by deliberation to reach a consensus. However, our client is disappointed that the good intentions did not get a good response and instead were reported to the Polda Metro Jaya, being sued in a civil manner at the Central Jakarta District Court, "he said.

Furthermore, the senior lawyer also stated that the CS Group has several investment projects in Indonesia and has contributed hundreds of millions of US dollars to the Indonesian economy and provided hundreds of local job opportunities, both directly and indirectly.

For information, CS is a Singaporean company and is part of the China Sonangol Group (CS Group), which has established a joint venture with MPI at PT China Sonangol Media Investment (CSMI).

Based on Otto's narrative, CS is the controlling shareholder in CSMI with a 99 percent portion, while MPI is only 1 percent in the construction of Indonesia 1 building projects.