Erick Thohir Still Saves Indofarma Despite Fraud Indications

Illustration (Photo: Doc Antara)

SOE Minister Erick Thohir said the government would continue to make efforts to rescue problematic state-owned companies, including PT Indofarma Tbk (INAF).

As is known, Indofarma is experiencing financial difficulties to pay salaries and debts.

In fact, the Supreme Audit Agency (BPK) found that this pharmaceutical company was caught in an online loan (pinjol) and there were indications of fraud.

Erick said that his party would improve Indofarma's business governance in accordance with the principles of good corporate governance. Including repayment of debt to vendors.

"We have to manage the Indofarma well ourselves. Yes, we have to save. Including of course vendor debt, and various things that we have to solve," he said when met in Sarinah, Jakarta, Friday, July 5.

Furthermore, Erick said, if later there are findings of corruption in the financial problems of PT Indofarma Tbk (INAF), the parties involved will be prosecuted.

"Together with BPK, we have coordinated with the Attorney General's Office, if. In the fraud case, it's a fraud case, if it's corruption, we will arrest it," he said.

Erick emphasized that the BUMN problems currently being handled by the AGO, BPK, and the Corruption Eradication Commission (KPK) cannot be separated from the efforts of the Ministry of SOEs to clean up state-owned companies.

"Look, if an individual problem can happen anywhere, if you say SOEs don't study it, it's actually SOEs that are found, SOEs that conduct audit investigations. Then we do verification, then we report it to the BPK, and BPK checks again, and only then does it (cases revealed)," he said.

Previously, the Supreme Audit Agency (BPK) had examined 18 findings. From these findings, there were 10 of them indicated by fraud with a potential state loss of Rp436.87 billion.

Bio Farma President Director Shadiq Akasya uncovered 10 indications of fraud in his subsidiary, PT Indofarma Tbk.

One of them is the finding of indications of losses in Indofarma's subsidiary, PT Indofarma Global Medika (IGM) worth IDR 157.33 billion for the transaction of the Fast Moving Consumer Goods (FMCG) business unit.

"Then, an indication of a loss in the emergency room for the loss of deposits is approximately Rp. 35.07 billion, an indication of an emergency loss for a deposit loss of Rp. 38 billion," he said in a meeting with Commission VI of the DPR, at the DPR Building, Jakarta, Wednesday, June 19.

Then, continued Shadiq, there were indications of IGM losses for the provision of deposits and interest worth Rp. 38.06 billion at Bank Oke. Then, there were indications of IGM losses worth Rp. 18 billion for the return of down payment from MMU which did not enter the IGM account.

"Fifth, expenditure and charge costs without being based on transactions with indications of IGM losses of IDR 24.35 billion," he explained.

Sixth, continued Shadiq, the collaboration between the TeleCTG Alkes Distribution and PT ZTI without Memadai's plan indicated a loss to IGM of IDR 4.50 billion over payments that exceeded the value of the invoice and could potentially harm IGM worth IDR 10.43 billion over TeleCTG's unsold stock.

Then, continued Shadiq, loans through fintech are not for the benefit of companies indicating a loss to IGM worth IDR 1.26 billion.

Eighth, the business activities of masks without adequate planning indicated fraud, with an indication of a loss of IDR 2.67 billion for the decrease in the value of mask supplies and a potential loss of IDR 60.24 billion for PT Promedik's bad debt and IDR 13.11 billion for the remaining supply of masks.

Ninth, the purchase and sale of the Panbio Rapid Test of PT IGM without adequate planning indicated fraud and a potential loss of Rp56.70 billion for PT Promedik's bad debt.

"Tenth, PT Indofarma carries out the purchase and sale of PCR Kit COVID-19 in 2020/2021 without adequate planning with indications of fraud and a potential loss of IDR 5.98 billion for PT Promedik traffic jams and IDR 9.17 billion for the unsold PCR Kit COVID-19," said Shadiq.