JAKARTA - Polda Metro Jaya continues to investigate the alleged stock transfer scandal at PT Teknik Alum Service (TAS), a nickel mining company operating in Morowali, Central Sulawesi. The investigation was carried out following a report filed by Agam Tirto Buwono against Hong Kah Ing and a number of other parties.
Agam's lawyer, M Mahfuz Abdullah, said his client had undergone an examination by investigators on Friday, February 6.
"Yes, today we have completed accompanying the examination of Mr. Agam," said Mahfuz at the Metro Jaya Police.
The examination is related to the report numbered STTLP/B/8508/XI/2025/SPKT/Polda Metro Jaya dated November 25, 2025. The report questioned Act Number 02 which was made by Notary Firdhonal SH, which recorded the transfer of shares through a mechanism outside the general meeting of shareholders (circular).
According to Mahfuz, the deed was allegedly made in an unnatural way because his client's shares were said to have changed ownership even though the payment had not been made. Reported in this case are Hong Kah Ing and other related parties.
He said the alleged violations included articles on document forgery and fraud as stipulated in the Criminal Code. However, Mahfuz asked for further confirmation to be made directly to the investigators or the Public Relations of the Metro Jaya Police.
Mahfuz explained that in July 2013 Agam signed a binding agreement to sell shares of PT TAS to PT Greenworld Resources owned by Hong Kah Ing worth 6.5 million US dollars. At that time, the new payment was only realized by 250 thousand US dollars.
"However, in 2014, our client's shares were said to have been transferred through a notary deed. The new client only found out about this at the end of 2023 so that a new report was made in 2025," he said.
In addition, his party suspects that there are a number of documents that have been falsified, such as a wife's approval letter, a binding agreement to buy and sell, a special power of attorney, a share purchase deed, and other supporting documents.
Mahfuz also revealed that the documents were allegedly used when the company listed its shares on the Singapore Exchange (SGX) in 2018. He said PT TAS is now rumored to be carrying out an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).
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For this reason, his party has written a letter to the Financial Services Authority (OJK) and the Stock Exchange of Indonesia (IDX) to be careful and consider the legal process that is still ongoing.
"We remind the public and investors not to be harmed, considering that this case is still under investigation," he said.
Until this news was released, there was no official statement from the reported parties or the management of PT Teknik Alum Service regarding the allegations.
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