KSP Indosurya Surrenders Paying Homologation Obligations, What’s the Fate of Customers?

Reporter: Adriano Octaviano | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. Customers of the Indosurya Savings and Loans Cooperative (KSP) seem to need a lot more patience to wait for homologation payments. How not, KSP Indosurya is said to be no longer able to pay these obligations.

In a letter sent by KSP Indosurya to customers dated March 14, 2022, the cooperative realizes that currently its financial condition is deteriorating due to a business that is also not running considering the impact of the Covid-19 pandemic and limited resources.

Therefore, KSP Indosurya also stated that it could not realize the Cooperative’s business plan from all aspects that had been stated in the peace agreement.

“The cooperative declares its inability to carry out its obligations to all members,” the management wrote in a letter received by KONTAN, Sunday (11/4).

Also Read: Hotman Paris Urges Sri Mulyani to Pursue Indra Kenz’s Taxes to KSP Indosurya

Furthermore, KSP Indosurya also transferred its maturing obligations to PT Sun International Capital as standby guarantor. Then, there are two options offered, namely issuing debt instruments that can be converted into shares within a period of three years or exchanging assets at an agreed price.

In response to this, the Head of the Task Force for Handling Troubled Cooperatives at the Ministry of Cooperatives and SMEs, Agus Santoso, said that so far his party has continued to ask the management to consistently pay members’ deposit rights in accordance with the homologation stage in accordance with the Court’s decision.

In addition, he also asked for good faith and seriousness from KSP Indosurya to immediately hold a RAT. Meanwhile, preparing a work plan and budget for 2022. Including jointly planning efforts to fulfill the stages according to homologation.

“When there are other alternatives, then the manager must discuss them in the RAT so that it is more transparent and can be understood together,” said Agus.

Also Read: Task Force for Handling Troubled Cooperatives Continues to Monitor Indosurya KSP Homologation Payments

One of the customers of KSP Indosurya Awan Sastrawijaya who has a deposit of IDR 700 million in KSP said that his party refused to transfer the homologation payment obligation to PT Sun International Capital.

According to him, the options offered by KSP Indosurya to its customers are not very clear, especially in the options related to asset exchange. Given that currently the assets of KSP Indosurya are still being sought by the police.

“With the lack of clarity, we rejected the option. We just ask for the money back,” he said

Also Read: Managers Arrested, What’s the Fate of KSP Indosurya’s Assets?

Indeed, while the police are still hunting for KSP Indosurya assets related to KSP Indosurya officials who were arrested in early March. In their letter, the management of KSP Indosurya also mentioned that the cooperative’s account which was blocked by the police was one of the reasons for their inability to pay.

Contacted separately, the Head of Sub-Directorate of Money Laundering Dittipideksus Kombes Robertus Yohanes De Deo said that his party was maximizing the search for assets for confiscation. Meanwhile, the number of assets that have been confiscated has reached Rp 1.26 trillion.

“It consists of 14 accounts and 14 assets,” said De Deo. In addition, his party is also in the stage of fulfilling the prosecutor’s instructions to complete the case file. The hope is that the file can be sent back to the prosecutor soon.