JAKARTA - The Corruption Eradication Commission (KPK) along with other law enforcement agencies is urged to investigate the Kalla Group company's or its affiliates' bad debt in the Poso HPP project.
The demand was conveyed by the Nusantara Justice and Change Movement (KAPAK) through an action that was marked by burning tires in front of the Red and White KPK building, Kuningan Persada, South Jakarta on Friday, April 24.
"We demand that the KPK immediately confiscate the assets of the Kalla Group if it fails to pay in the Poso HPP project and demands that it stop lending to the Bank Negara as the engine of the Kalla Group," said representative of the mass action, Al Maun in his speech.
Al Maun assessed that the involvement of the KPK was important to ensure that there was no state loss if there was a default. He emphasized that the risk of financing the project could not be considered small.
He explained that the Poso Hydroelectric Project managed by Poso Energy - a company affiliated with the Kalla Group - was financed through a syndicated loan scheme. In this scheme, four Himbara banks together with one financing institution under the Ministry of Finance provided large loans.
According to him, the scheme is indeed common in global banking practices. However, what is in the spotlight is the size of the financing and the concentration of credit on one business group.
"The syndication scheme itself is not a strange thing. In the practice of global banking, financing of large projects is often done together to spread the risk. However, what is in the spotlight is not only the mechanism, but its scale and concentration when the Kalla Group companies receive large amounts of funds from state banks collectively, the public has the right to know, how healthy this decision is," explained Al Maun.
He reminded that collaboration between the state and the private sector in development is indeed needed. However, without transparency and supervision, it has the potential to pose a major risk.
"So the question, 'who and why and how did 5 state banks give jumbo loans to the Kalla Group company?' should not be answered with assumptions or speculation, this must be answered with data, audits, and openness, because in the end, this is not just a matter of business. This is about public trust and how the state manages the people's money," he said.
Furthermore, Al Maun questioned the party who would be responsible if there was a credit default. He emphasized that legally, the Kalla Group is obliged to pay off its debt. However, if it fails to pay, the state must act decisively.
"The third question is whether the BPK, KPK and Attorney General's Office dare or not, audit and inspect and seize the assets of the Kalla Group if there is a default? In many projects, the Kalla Group is the executor, the state-owned bank is the lender, the state is the guarantor when it defaults. We are afraid that the people's money depends on the interests of the Kalla Group," concluded Al Maun.
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