Detention Order For GT Tycoon

Gajah Tunggal President has been issued with a 20 day detention order, according to a report in the Straits Times newspaper. The order concerns charges of money-swindling, going back some time. Some Indonesian businessmen have expressed surprise and concern over the action, as a few months ago, Indonesian President Abdurrahman Wahid suspended the investigation into Mr.

Sjamsul and two other businessmen. The renewal of the investigation has led some to speculate that there might be a political motive behind the action, as a number of prominent businessmen are said to be backing the opposition in Parliament. Mr.

Abdurrahman has been accused in the past of being involved in financial scandals. The investigations centre round the equivalent of US$ 3.6 bn (4 bn Euro) bail-out money received from the state by the BDNI bank between 1997 and 1999.

A separate report in the Straits Times says that Mr. Nursalim had earlier agreed to hand over some of the group’s assets in Indonesia to the Indonesian Bank Restructuring Agency as part of a settlement agreement. Among these assets are a cable producer (GT Kabel Indonesia), a plastics and polyester manufacturer (GT Petrochem), the world’s largest shrimp farm and tyre manufacturer Gajah Tunggal.