Indonesia seizes land owned by Suharto son’s company
ABC News
Indonesian authorities have seized four plots of land owned by the youngest son of former dictator Suharto as part of efforts to recover money owed the government since the 1997-1998 Asian financial crisis
JAKARTA, Indonesia -- Indonesian authorities on Friday seized four plots of land owned by the youngest son of former dictator Suharto as part of efforts to recover money owed the government since the 1997-1998 Asian financial crisis.
The confiscation was part of government attempts to recover the outstanding debt of PT Timor Putra Nasional, a carmaker owned by Hutomo Mandala Putra, also known as Tommy Suharto, after it defaulted on loans from state banks worth 2.6 trillion ($180.8 million) made during the financial crisis, Finance Ministry official Rionald Silaban said.
The four plots of land in West Java’s Karawang district total 124 hectares (306 acres), he said in a statement.
A government task force established in April has began confiscating assets from people who were bailed out with central bank funds during the financial crisis. It has so far seized 49 plots of land totaling 520 hectares (1,285 acres) from debtors of a Bank Indonesia liquidity support fund known as BLBI.
