Capital Injection in Gibran, Kaesang's Business Unreasonable: Economist

Translator

Dewi Elvia Muthiariny

Editor

Petir Garda Bhwana

Rabu, 12 Januari 2022 13:24 WIB

Gibran Rakabuming Raka (Right) and Kaesang Pangarep (Left) gave a statement during the inauguration of Goola X Mangkok Ku at Kota Kasablanka Mall, Jakarta, Monday, October 21, 2019. In this event, the two children of President Joko Widodo demonstrated their action of mixing food and drinks. TEMPO/Nurdiansah

TEMPO.CO, Jakarta - Two of President Joko Widodo's children, Gibran Rakabuming and Kaesang Pangarep, have been reported to the Corruption Eradication Commission (KPK) over alleged corruption and money laundering through their businesses that have ties to companies suspected of forest fires.

The companies through their affiliates deposited hundreds of billions of funds into Gibran and Kaesang’s company in stages between February 2019 and November 2020.

“The investment value of a very, very unreasonable amount was disbursed for start-up culinary businesses owned by the President's children. The total investment value reached almost Rp100 billion,” said Wakil Kamal, the attorney of Ubedilah Badrun as the case reporter, Tuesday, January 11.

Last November, the investor company's officials were also appointed as state ambassadors. “This confirms the alleged KKN (corruption, conspiracy, and nepotism),” Kamal added.

Director of the Center of Economic and Law Studies (Celios) Bhima Yudhistira assessed that the capital injection was unreasonable amid a sharp decline in the general business of food and beverages in the wake of the pandemic.

“So it's odd if a culinary business is injected with very large funding. It will raise a question on what basis investors do huge financing,” said Bhima on Tuesday, January 11.

Some of their businesses also proved to run shortly, such as the martabak business owned by Kaesang. The economist recalled that the food business was aggressive in opening branches in a number of cities before it dimmed.

According to him, investors dared to provide huge capital for businesses of the president's sons because they did the calculation. “Because it has entered the realm of politics, inappropriate funding can surely be related to the affiliation of entrepreneurs with power,” he added. “The calculations will be different. It is not just business prospects anymore.”

As quoted from Antara on Tuesday, January 11, Gibran Rakabuming Raka, who is now the Mayor of Solo, demanded the allegations be proven first and claimed ready to be detained if he is found guilty.

Read: Kaesang Responds to Jokowi's Millennial Staffers

IMAM HAMDI

Related News

Today's Top 3 News: Indonesia Ranked First in Top 5 Countries with World's Most Online Gambling Players

1 jam lalu

Today's Top 3 News: Indonesia Ranked First in Top 5 Countries with World's Most Online Gambling Players

Here is the list of the top 3 news on Tempo English today.

Read More

Jokowi: Trade Deficit in IT Device Sector Reaches US$2.1 Billion

4 jam lalu

Jokowi: Trade Deficit in IT Device Sector Reaches US$2.1 Billion

Jokowi laments that imported goods still dominate the domestic market for technological and communication devices.

Read More

Jokowi Denies Involvement in Formation of Prabowo Subianto's Ministerial Cabinet

6 jam lalu

Jokowi Denies Involvement in Formation of Prabowo Subianto's Ministerial Cabinet

President Jokowi denies rumors of him providing suggestions to President-elect Prabowo Subianto regarding the formation of the ministerial cabinet.

Read More

Jokowi Opens Indonesia Digital Test House in Depok

8 jam lalu

Jokowi Opens Indonesia Digital Test House in Depok

President Jokowi inaugurated the Indonesia Digital Test House (IDTH) at the Telecommunication Equipment Testing Center (BBPPT) in Tapos, Depok.

Read More

Jokowi Calls for Sync in Prabowo-Gibran Govt's Work Plan

9 jam lalu

Jokowi Calls for Sync in Prabowo-Gibran Govt's Work Plan

President Joko Widodo or Jokowi demanded that the Government Work Plan (RKP) for 2025 be meticulously prepared based on three primary principles.

Read More

Bappenas Lauds Jokowi for Indonesia's Stable Economy at About 5 Percent

10 jam lalu

Bappenas Lauds Jokowi for Indonesia's Stable Economy at About 5 Percent

Bappenas Head Suharso Monoarfa lauded President Jokowi's government as the country's economic growth was stable during his tenure.

Read More

Ganjar Pranowo Declares Opposition to Prabowo-Gibran Govt

11 jam lalu

Ganjar Pranowo Declares Opposition to Prabowo-Gibran Govt

Losing presidential candidate Ganjar Pranowo stated that he would take on the role of opposition to the Prabowo-Gibran government.

Read More

Today's Top 3 News: Jokowi Launches 6 Hospital-Based Medical Residency Programs

22 jam lalu

Today's Top 3 News: Jokowi Launches 6 Hospital-Based Medical Residency Programs

Here is the list of the top 3 news on Tempo English today.

Read More

Jokowi Holds Evaluation Meeting for Eid Homecoming; Calls for Rest Area Improvement

22 jam lalu

Jokowi Holds Evaluation Meeting for Eid Homecoming; Calls for Rest Area Improvement

Jokowi held a limited meeting to evaluate the 2024 Eid homecoming at the Merdeka Palace on Monday, May 6, 2024.

Read More

Vice President-Elect Gibran Rakabuming Backs 'Presidential Club' Proposal

1 hari lalu

Vice President-Elect Gibran Rakabuming Backs 'Presidential Club' Proposal

According to Gibran Rakabuming, the presidential club will unite former Indonesian leaders.

Read More