JAKARTA &ndash; PT MNC Asia Holding Tbk (BHIT), part of the MNC Group controlled by Hary Tanoesoedibjo, said it is preparing to file an appeal against a court ruling ordering it to pay material damages to PT Citra Marga Nusaphala Persada Tbk (CMNP).
&ldquo;The decision has not yet obtained permanent legal force. The company will file an appeal,&rdquo; BHIT&rsquo;s board of directors said in a statement to the Indonesia Stock Exchange on Friday (24/4).
Previously, IDNFinancials.com reported that the Central Jakarta District Court had ruled that Hary Tanoesoedibjo and BHIT must jointly pay USD 28 million plus 6% annual interest since 2002 as material damages to CMNP, a company owned by Jusuf Hamka.
The case stems from a 1999 transaction in which a USD 28 million Negotiable Certificate of Deposit (NCD) issued by PT Bank Unibank Tbk was exchanged for a Medium Term Note (MTN) worth IDR 163.5 billion and Phase II bonds worth IDR 189 billion issued by CMNP.
However, the NCD could not be redeemed on 22 August 2002 after Unibank was declared a frozen-operation bank (BBKU) in October 2001.
CMNP argued that the defendants&mdash;Hary Tanoesoedibjo and BHIT&mdash;were aware from the outset that the NCD was problematic, resulting in significant losses for the company.
BHIT, however, maintained that it acted solely as a broker or arranger in the transaction.
&ldquo;The company also did not receive any payment funds from CMNP for the NCD purchase, as the funds were transferred by CMNP to Unibank as the issuer,&rdquo; management said.
The company therefore plans to pursue an appeal and declined to specify the total financial obligations arising from the ruling.
&ldquo;The total obligation may change depending on further legal remedies pursued by the company,&rdquo; management added.
According to the court ruling, in addition to the USD 28 million plus 6% interest since 2002, Hary Tanoesoedibjo and BHIT are also required to pay IDR 50 billion in immaterial damages and IDR 5.02 million in court costs. (ZH)

The MNC Group holding company will pursue an appeal after the court gave a damages ruling.

MNC Asia Holding to appeal USD 28 million lawsuit ruling

JAKARTA &ndash; Anak usaha PT MNC Energy Investments Tbk (IATA), PT Arthaco Prima Energy (APE), menandatangani kontrak kerja sama jasa pertambangan batu bara dengan anak usaha PT United Tractors Tbk (UNTR), PT Kalimantan Prima Persada (KPP Mining), hari ini, Selasa (23/12).
Dalam kerja sama ini, KPP Mining akan menjadi kontraktor jasa pertambangan batu bara dan pengupasan lapisan penutup (overburden removal), untuk tambang APE di Musi Banyuasin, Sumatera Selatan.
Kontrak ini bernilai Rp5 triliun, dan akan berlangsung selama 5 tahun ke depan, mulai Januari 2026.
&ldquo;Selama masa kontrak, target produksi batu bara mencapai 33,6 juta metric ton (MT), dengan target produksi pada tahun pertama (2026) sebesar 3 juta MT,&rdquo; jelas manajemen IATA dalam siaran resminya, Selasa (23/12).
Selain itu, total volume material yang akan dikelola selama periode kerja sama diperkirakan mencapai 140,9 juta bank cubic metre (bcm).
Sebagai informasi, total lahan konsesi tambang milik IATA di Musi Banyuasin mencapai 44.163 hektar, dengan potensi sumber daya batu bara mencapai 1,4 miliar MT dan cadangan batu bara yang dapat ditambang sekitar 294 juta MT. (ZH)

MNC Group dan Astra Group berkolaborasi garap tambang batu bara IATA di Musi Banyuasin.