SNP Finance case could disturb investors' trust

By : Herry Barus And Aldo Bella Putra | Friday, September 28 2018 - 14:00 IWST

Menteri Keuangan, Sri Mulyani (Foto: Ist)
Menteri Keuangan, Sri Mulyani (Foto: Ist)

INDUSTRY.co.id - Jakarta - Finance Minister Sri Mulyani Indrawati said the case of bank burglary with a fictitious credit guarantee style allegedly carried out by PT SNP Finance could disrupt investor confidence.

"In the financial sector, the factor of integrity and trust is very important, so whenever cases like this arise, it will cause a 'set-back' for the community," Sri Mulyani said in Jakarta, Thursday (09/27/2018)

Sri Mulyani explained that fraud cases like this could cause distrust from people who want to invest in stock instruments, bonds and state securities.

For this reason, she hopes that the relevant authorities and the supervisors can maintain public trust because this incident can complicate the deepening of financial markets.

"We hope that regulators or supervisors will increasingly improve quality to maintain public confidence, because without it it will be difficult for us to deepen the financial market," she said.

Sri Mulyani said it also coordinated with the Financial Services Authority regarding alleged violations committed by public accounting firms to smooth the crime.

"We and OJK will coordinate what steps will be taken. If they do commit violations and there are things that are not performing, what are the conditions, we do," she said.

Previously, the National Police Criminal Investigation Agency raised the alleged case of SNP Finance bank burglary to the investigation stage by determining five suspects who were leaders of SNP Finance.

This case originated from the problem of PT Sunprima Nusantara Financing (SNP) Finance, which is a subsidiary of the Columbia Group, was unable to pay the outstanding loans borrowed from the bank.

To pay the arrears, SNP Finance issues medium term notes (MTN) which are not through the OJK process, because they are private.

News Comment

Today's Industry

Vice President Ma’ruf Amin and his spouse Ibu Wury head to Ambon for a working visit, Wednesday (13/10). (Photo by: Vice Presidential Secretariat)

Jumat, 15 Oktober 2021 - 22:10 WIB

VP Ma’ruf Amin to Close 20th PON in Papua

Vice President Ma’ruf Amin, on Friday (15/10), is scheduled to close the 20th National Sports Week (PON) in Papua at the Lukas Enembe Stadium, Jayapura regency. The Vice President, his spouse…

President Joko Widodo and Cabinet Secretary Pramono Anung at Kompas Bajo, Puncak Waringin, Thursday (14/10) afternoon. (Photo by: BPMI/Laily Rachev)

Jumat, 15 Oktober 2021 - 21:32 WIB

President Jokowi Visits Kompas Bajo Creative Hub

Ending his working visit in East Nusa Tenggara Province, President Joko “Jokowi” Widodo and First Lady Ibu Iriana on Thursday (14/10) afternoon took a walk to Kompas Bajo which is located…

President Joko Widodo inaugurates Waringin Peak and Batu Cermin tourism area arrangements and eight road segments in Labuan Bajo, East Nusa Tenggara province, Thursday (14/10). (Photo by: PR of Cabinet Secretariat/Rahmat)

Jumat, 15 Oktober 2021 - 20:30 WIB

President Jokowi Inaugurates Area Arrangements in Labuan Bajo

President Joko “Jokowi” Widodo, Thursday (14/10), inaugurated Waringin Peak and Batu Cermin tourism area arrangements and eight road segments at Waringin Peak, Labuan Bajo village, Komodo…

The Integrated Coordination Meeting on the Acceleration of Welfare Development in Papua and West Papua, at the West Papua Governor’s Office Complex, Manokwari, West Papua, Thursday (14/10). (Photo by: BPMI of Vice Presidential Secretariat)

Jumat, 15 Oktober 2021 - 19:30 WIB

VP Ma’ruf Amin Leads Meeting on Welfare Development in Papua, West Papua

Vice President Ma’ruf Amin Thursday (14/10) at West Papua Governor’s Office Complex, Manokwari in West Papua province, led an integrated coordination meeting discussing measures on the acceleration…

President Jokowi officially inaugurates Wae Kelambu Multipurpose Terminal, West Manggarai regency, Thursday (14/10).

Jumat, 15 Oktober 2021 - 19:00 WIB

President Jokowi Inaugurates Wae Kelambu Multipurpose Terminal to Support Labuan Bajo Tourist Destination

In a series of his working visit to East Nusa Tenggara province, President Joko “Jokowi” Widodo, Thursday (14/10), inaugurated the Wae Kelambu Multipurpose Terminal, Labuan Bajo Seaport…