1.5 hours, the owner of PT Chairul Tanjung Corpora (CT Corp) and Trans Media
Group, Chairul Tanjung, visited BUMN (State-Owned Entities) Minister Erick
Thohir on Thursday (10/31). But the businessman who is familiarly called a CT
said he did not discuss Garuda Indonesia.
Reporting from Kumparan.com, CT explained that his party discuss a lot of things. But it is more focused on the economy and management of BUMNs. It is admitted that it did not specifically discuss BUMN including PT Garuda Indonesia (Persero) Tbk (GIAA).
“No, it’s not at all (discuss Garuda). We just talk about the economy and BUMNs,” said CT, who is also the Commissioner of GIAA.
Since the beginning of last year until this year, Garuda Indonesia has been one of the BUMNs that has been hit by many problems. Starting from the price of expensive airline tickets to the manipulation of corporate financial statements.
The Ministry of Finance and the Financial Services Authority (OJK) decided that there was a violation in the 2018 Garuda Indonesia Annual Financial Report. This violation left the company subject to a large fine of up to Rp 1 billion.
The findings of the irregularity of Garuda Indonesia’s annual financial statements began when two Garuda commissioners, Chairal Tanjung and Dony Oskaria, considered Garuda Indonesia’s 2018 financial statements to be inconsistent with the Statement of Financial Accounting Standards (PSAK). So both of them refused to sign the financial statements.
According to them, Garuda Indonesia should have recorded a loss of USD 244.95 million in 2018. But in the financial statements it was recorded that throughout 2018 the company posted a net profit of USD 809.84 thousand, a sharp increase from 2017 which lost a loss of USD 216.58 million.
Chairal Tanjung and Dony Oskaria are representatives of PT Trans Airways and Finegold Resources Ltd which control 28.08 percent of GIAA shares. Trans Airways is a company owned by businessman Chairul Tanjung (CT).
Post-manipulation of the 2018 annual financial statements, the company recorded a profit of USD 122,424 million or around Rp 1,713 trillion (exchange rate of Rp 14,000) in the nine-month period ended September 30, 2019. In the same period last year, the state-owned airline still recorded a loss USD 114,080 million or around Rp 1.597 trillion.
Quoting from the financial statements submitted by the company to the Indonesia Stock Exchange (IDX), Thursday (10/31), the company’s profit is supported by revenue figures that rose in the third quarter of 2019 amounting to USD 3,540 billion or around Rp 49.560 trillion. That number rose 9.97 percent compared to the same period the previous year amounted to USD 3.219 billion or around Rp 45.066 trillion. (kumparan / cak)