Koon Yew Yin's Blog

Indonesian Prosecutors Seek Death Sentence in Graft Trial - Koon Yew Yin

Koon Yew Yin
Publish date: Fri, 10 Dec 2021, 09:55 AM
Koon Yew Yin
0 1,414
An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.

All materials published here are prepared by Mr. Koon Yew Yin

Our Malaysian chief prosecutor has great difficulty to convince our High court and Supreme court to put former PM Najib and his wife in jail for corruptions. In fact, he has requested a “privilege” from the government in the form of a 2.8-acre residential property worth RM100 million in one of Kuala Lumpur’s most exclusive neighbourhoods.

It is understood that the former prime minister made the request about a year after his fall from power in the 2018 election, and again last year, just months before he was found guilty of corruption charges related to the 1MDB scandal.

Najib had made such a request to the Prime Minister’s Department by invoking a little-known act which gives special privileges and allowances to former prime ministers, including the ownership of properties and land belonging to the government.

I hope all Malaysians especially politicians will read this article.

Indonesian prosecutors made history on Monday 6 Dec by recommending a death sentence for a key defendant in a major corruption case at military insurer Asabri.

Businessman Heru Hidayat is accused of misguiding the state-run insurer to bad investments for his personal gains and of laundering the ill-gotten money by re-investing in other assets.

Heru Hidayat, the chief commissioner of shipping company Trada Alam Minera, is facing the death sentence for a corruption scandal in military insurer Asabri. (Antara Photo)

Prosecutors told the Jakarta Anti-Corruption Court that Heru alone has inflicted a loss of Rp 12.6 trillion to Asabri.

Asabri collects premiums by deducting 8 percent of the salary of soldiers, policemen, and civilian staffers at the Defense Ministry.

While the amended 1999 anti-corruption law carries capital punishment, such a demand has never been presented in the court before due to the vaguely prescribed prerequisites.

Article 2 of the law stipulates that graft conviction can be punishable by death if the crime is committed when the country is under an emergency situation due to natural disaster or economic crisis, and/or it is a repeat crime.

Prosecutors argued that Heru is a repeat offender, saying that he was earlier found guilty in a separate corruption case related to another state-owned insurance company, Jiwasraya.

“The crime committed by the defendant classifies as an extra-ordinary crime that may put the national integrity in jeopardy  … the defendant was already sentenced to life in the Jiwasraya corruption case that costs the state Rp 16.8 trillion in financial losses,” according to the prosecution demand read in turn by prosecutors.

The Jiwasraya case already saw the country’s toughest anti-corruption trial in which six defendants were sentenced to life in prison last October. It was for the first time in Indonesian history that multiple defendants were sentenced to life in the same corruption case.

Heru, the chief commissioner of shipping company Trada Alam Minera, is also accused of enriching his company using the money he illegally obtained from Asabri.

In their attempts to recover state losses, prosecutors seized the company’s assets such as its 51 percent share in subsidiary Hanochem Shipping and an LNG tanker. According to prosecutors’ documents, they only managed to collect Rp 2.4 trillion from the defendant’s assets.

 

More articles on Koon Yew Yin's Blog
Eversendai Corporation made a remarkable comeback in FY2023 - Koon Yew Yin

Created by Koon Yew Yin | Apr 22, 2024

Eversendai Corporation Berhad made a remarkable comeback in FY2023, reporting strong profit growth. Here are the key highlights from their financial performance:

Sendai price trend reversal - Koon Yew Yin

Created by Koon Yew Yin | Apr 22, 2024

Sendai price chart below is showing its price trend reversal. It is hitting a record high.

How can KSL double its profit? - Koon Yew Yin

Created by Koon Yew Yin | Apr 18, 2024

After the stock closed yesterday, KSL announced its 4th quarter EPS which is 40.76 sen and its net tangible asset (NTA) backing of Rm 3.65. Its profit increased by 230% more than last year.

Why Sabah will leave Malaysia - Koon Yew Yin

Created by Koon Yew Yin | Mar 29, 2024

Currently Sabah Government does not know that solar panel produces the cheapest electricity???

Malaysia can be one of the richest nations in the world - Koon Yew Yin

Created by Koon Yew Yin | Mar 23, 2024

During my life time I saw every Prime Minister being replaced by another politician for one reason or another. Dr Mahathir managed to stay the longest time of 22 years.

Property Developers comparison - Koon Yew Yin

Created by Koon Yew Yin | Mar 04, 2024

All property developers have just announced their annual profit for 2023. All of them reported increased profit.

My contribution as an Engineer - Koon Yew Yin

Created by Koon Yew Yin | Mar 04, 2024

Although my writing of this article sounds boastful but I feel that it is important to keep this record for posterity. Engineers play a pivotal role in shaping our modern world.

What can KSL can do to benefit shareholder? - Koon Yew Yin

Created by Koon Yew Yin | Mar 01, 2024

What can KSL do to benefit shareholders? I hope all the shareholders will read this article so that they can attend the coming annual general meeting to vote out those directors who are seeking re...

All Investors require Anticipation - Koon Yew Yin

Created by Koon Yew Yin | Feb 29, 2024

After the stock market closed, KSL announced its 4th quarter ending Dec 2023 EPS of 12.74 sen. The total is 40.76 sen for 4 quarters. Its total EPS for 4 quarter ending 2020 was only 17.8 sen.

Property developers share prices comparison based on latest EPS - Koon Yew Yin

Created by Koon Yew Yin | Feb 29, 2024

KSL is the cheapest in terms of PE ratio. KSL Holdings Bhd is a holding company. It is engaged in real estate services.

Discussions
1 person likes this. Showing 2 of 2 comments

Want2MakeMoney

Boleh Land on the other hand wanted to give reward of 100 million to the corrupted leader. This only will happen in Boleh Land, no other country

2021-12-10 23:31

sensonic

MARKET EXPECTED TO GO UP NEXT WEEK DUE TO BARGAIN HUNTING.

2021-12-11 17:14

Post a Comment