Fantastic Income of Jusuf Hamka's Business from Toll Roads Can Reach Rp3 Trillion per Day

Dream - Toll road businessman Jusuf Hamka emerged with news that caught attention. He is currently demanding the government to pay off the debt of his company, PT Citra Marga Nusaphala Persada Tbk. (CMNP) amounting to Rp179.5 billion at Bank Yakin makmur (Yama) which went bankrupt during the 1998 monetary crisis.

Since the monetary crisis, the debt has not been paid to Jusuf Hamka. According to him, if calculated with interest, the debt could reach Rp800 billion, even trillions. But in the agreement, only Rp179.5 billion will be paid.

"If now it has exceeded Rp800 billion, Rp1.4 trillion, including the principal amount," said Jusuf, quoted from Merdeka.com, Friday, June 9, 2023.

The man affectionately known as Babah Alun is known as the toll road boss in Indonesia. He owns the majority of shares in PT Citra Marga Nusaphala Persada (CMPN) Tbk.

PT CMNP itself is a private contractor involved in the construction of toll roads in the country. The company holds concessions for seven toll road sections on Java Island.

Jusuf Hamka revealed that his company's income from toll road business can reach Rp6 billion per day. This amount is generated from the 6 toll road sections owned by CMPN.

"From all over Indonesia, from those 6 toll road sections, it could reach around Rp5.5 to Rp6 billion in one day. It depends on the traffic," said Jusuf Hamka, quoted from SCTV's YouTube channel.

Jusuf Hamka gave an example that the revenue from the Ir. Wiyoto Wiyono Toll Road section can reach Rp6 billion in one day.

Furthermore, the revenue received by PT CMPN is around Rp3.3 billion according to its 55 percent share ownership.

"In one day, it can reach Rp6 billion, and then 55 percent goes to us, Rp3.3 billion for our group," said Jusuf Hamka.

Facts about Toll Road Boss Jusuf Hamka Demanding Rp179 Billion Government Debt: Accused of Using Tutut Soeharto's Name and Asking for Mahfud MD's Help

Dream - Toll road businessman Jusuf Hamka is demanding a debt of Rp179.5 billion from the government. The debt comes from his company's deposit, PT Citra Marga Nusaphala Persada Tbk. (CMNP), at Bank Yakin makmur (Yama) which went bankrupt during the 1998 monetary crisis.

According to Jusuf Hamka, if calculated with interest, the current debt amounts to Rp800 billion, even trillions. But in the agreement, only Rp179.5 billion will be paid.

"If now it has exceeded Rp800 billion, Rp1.4 trillion, including the principal amount," said Jusuf. PT CMNP is a private contractor involved in the construction of toll roads in the country.

Origin of the Debt

The government's debt, in this case the Ministry of Finance (MoF), originated from PT CMNP depositing money at Bank Yama.

However, when the 1998 monetary crisis occurred, Bank Yama went bankrupt, so the government provided Bank Indonesia Liquidity Assistance (BLBI). This injection of funds should have made the deposits at Bank Yama the responsibility of the government.

"We had our deposits placed in Bank Yama. At that time, many banks were liquidated, but mine was not replaced by the government," said Jusuf Hamka.

Debt Agreement

Jusuf Hamka, through CMNP, filed a lawsuit in 2012. Long story short, the government and CMNP agreed on a total principal deposit and interest of Rp179.46 billion, based on the decision of the Supreme Court (MA).

The details of the principal deposit amount to Rp78,843,577,534.20 plus Rp76,089,246.80 plus Rp100,543,655,478 (interest/penalty of 32.5 percent of the total interest/penalty calculated until the cut-off date of July 2015, amounting to Rp309,365,093,781.00) to a total of Rp179,463,322,259.82.

Using Tutut Soeharto's Name

The Ministry of Finance, through the special staff of the Minister of Finance Sri Mulyani, Yustinus Prastowo, said that Jusuf Hamka's payment request during the 1998 crisis was rejected because Bank Yama and CMNP were affiliated with Siti Hardiyanti or Tutut Soeharto, the daughter of former President Soeharto.

"Bank Yama and CMNP are owned by Siti Hardiyanti Rukmana, so the guarantee provision for CMNP's deposit does not receive government guarantee because there is an affiliated relationship between CMNP and Bank Yama," he said.

Therefore, according to Prastowo, the request for repayment was rejected by the Indonesian Bank Restructuring Agency (BPPN) as the institution formed to carry out banking restructuring.

"CMNP did not accept the BPPN's decision, so it filed a lawsuit to still obtain the repayment of the deposit. CMNP's lawsuit was granted and received a verdict that sentenced the Minister of Finance to return the deposit," he said.

Prastowo explained that the payment of the deposit was not due to the state's contractual obligation to CMNP.

"The judge ruled that the State is responsible for the failure of Bank Yama to return CMNP's deposit. Thus, the State is sentenced to pay from the state budget to return CMNP's deposit stored in a bank owned by CMNP's owner," he said.

He stated that the payment request has been responded to by the Advocacy Bureau of the Ministry of Finance to the lawyers appointed by CMNP and to other parties representing CMNP.

Considering that the verdict resulted in a burden on state financial expenditures, Prastowo stated that the implementation of the verdict must comply with the mechanism of state financial management based on the State Finance Law, especially the principle of prudence.

"Therefore, it is necessary to conduct research first, both in terms of the state's financial capacity to maintain the public interest that needs to be financed by the state and research to ensure that the expenditure of budgetary burdens has fulfilled the provisions of state financial management," he said.

Sri Mulyani Speaks Out

In response to this, Minister of Finance Sri Mulyani Indrawati admitted that she has not studied the debt mentioned by Jusuf Hamka. Therefore, she declined to comment further.

Jusuf Hamka asked for help from the Coordinating Minister for Political, Legal, and Security Affairs, Mahfud MD, to follow up on the debt payment.

"Mr. Mahfud, don't bury the private sector. The government also provides debt to the private sector," he said.

Source: Merdeka.com and Liputan6.com