Jakarta, hitclubapk3 Indonesia
—
Former President Director of PT
ASDP
Indonesia Ferry (Persero)
Ira Puspadewi
sentenced to 4.5 years in prison in the Business Cooperation (KSU) acquisition and PT acquisition cases
Archipelago Bridge
(JN).
The verdict attracted public attention because it was stated that Ira did not receive the money resulting from the corruption.
“The decision of the Central Jakarta District Court Panel of Judges stated that the defendant, Ira Puspadewi, the Main Director of PT ASDP for the 2017-2024 period was proven guilty of committing an unlawful act in the collaboration on the acquisition of PT JN by PT ASDP. Due to this act, he caused state financial losses worth IDR 1.25 trillion,” said KPK spokesman Budi Prasetyo in a written statement, Sunday (23/11).
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Actually, how was the acquisition of PT JN by PT ASDP Indonesia Ferry (Persero)?
Quoted from the official ASDP website, this acquisition process was formalized on February 22 2022. This acquisition is the result of two years of business cooperation between the two companies.
The acquisition of PT JN is part of ASDP’s long-term plan for 2020-2024, especially in the accelerated development of ferry management and operator services.ASDP wants to increase its fleet and encourage aggressive company growth towards an IPO.
Prior to the acquisition of PT JN, ASDP owned 166 ships.After the acquisition, ASDP received an additional fleet of 53 ships to 219 ships.
“Through this acquisition, ASDP will not only become the operator with the largest fleet, but will become the leading company in implementing safety standardization and excellent service to all service users,” said Corporate Secretary of PT ASDP Indonesia Ferry (Persero) Shelvy Arifin, as reported by the official ASDP website, 22 February 2022.
This acquisition was also appreciated by Budi Setiyadi, who at that time was Director General of Land Transportation at the Ministry of Transportation.He asked ASDP to prioritize safe crossing services.
“In line with President Joko Widodo’s direction that we must strengthen ferry services, especially on the outermost and outermost islands. This acquisition is new evidence and strength that together with ASDP and JN we will provide better services for the community,” said Budi.
State loss
Corruption Eradication Committee Spokesperson Budi Prasetyo explained the reasons why former ASDP Managing Director Ira Puspadewi was sentenced to 4.5 years in prison by the Central Jakarta District Court for Corruption Court.
Budi said that the state losses that occurred were the impact of unlawful acts (PMH) in the acquisition process, including conditioning the process and results of the assessment by the Public Appraisal Services Office (KJPP) which carried out ship valuations and company valuations as a whole.
Apart from not only being visible from the changes in the version of the appraisal working paper, the comparison of the value of similar ships with PT ASDP ships of the same size and age, as well as the assumptions used by consultants, there is evidence of conversations between the parties that confirm the conditioning facts.
Apart from that, continued Budi, the financial health condition of PT JN as a company that was acquired in the period before being acquired (2017-2021) was in a downward trend or
declining
.
This can be seen from the low and decreasing profitability ratio or
return on assets
, as well as the ability to settle current liabilities or liquidity ratio or often referred to as
current ratio
.
“This matter was not taken into consideration by the Board of Directors and was not evaluated together with the consultant
due diligence
(due diligence) to assess the feasibility of the acquisition,” said Budi.
Budi revealed that more than 95 percent of the asset value is ships over 30 years old whose book value has been increased so that
overstated
through accounting schemes for capitalization of maintenance costs, revaluation of ship values, inter-affiliate ship purchase transactions without real payment transactions.
“On the liability side, there was still bank debt amounting to IDR 580 billion at the time of the acquisition,” said Budi.
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