Bahlil Freezes Pontjo Sutowo’s Business License at the Sultan Hotel! News – 2 hours ago

Jakarta, CNBC Indonesia – The Minister of Investment or Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia admitted that he had frozen the business license of PT Indobuildco, owned by Pontjo Sutowo, regarding management at the Sultan Hotel.

Bahlil explained that the suspension of the business permit had been implemented for two weeks, because he no longer had a legal basis, after the building use rights permit (HGB) had expired, and could no longer be extended. Therefore, the business license does not meet the requirements.


“So two weeks ago, it was frozen,” said Bahlil when met at his office, Friday (20/10/2023).

Bahlil also emphasized that he would consider revoking his business permit if PT Indobuildco did not leave the Sultan Hotel area. He also emphasized that entrepreneurs should not regulate the state regarding land management matters.

“We will consider it. Once again I say, it can’t be businessmen or the state, that’s all, but the state also can’t be arbitrary to entrepreneurs,” stressed Bahlil.

Infographic, Sultan Hotel Confiscated by State, These are the FactsPhoto: Infographics/ Sultan Hotel Confiscated by State, These are the Facts/ Edward Ricardo
Infographic, Sultan Hotel Confiscated by State, These are the Facts

Pontjo’s company, namely PT Indobuildco, has controlled this hotel for decades and was forced to leave by the government on the basis of Concession Rights (HPL).

Pontjo was not reluctant to leave the Sultan Hotel. He could leave as long as he received compensation. However, the value of the compensation is fantastic, reaching tens of trillions.

“If the government doesn’t want to extend the HGB, revoke our rights, that’s in the law, it’s the president who revokes it, not the State Secretariat. Law Number 20 of 61 concerning revocation of rights has been regulated and compensation must be in full. (Compensation value?) From our lawsuit IDR 28 trillion more, that doesn’t include everything in it,” said Indobuildco’s attorney, Yosef Benediktus Badeoda, to CNBC Indonesia as written on Tuesday (17/10/2023)

From these figures, the biggest losses were in land worth tens of trillions, this cannot be separated from the Sultan Hotel’s very strategic position in the heart of the capital city and the Senayan area. Meanwhile, the value of compensation for the building is no less fantastic.

“Including the land with the building, the contents are not yet there. The building alone is around 5 trillion. The land is big, IDR 13 trillion,” said Yosef.

Then, the other IDR 10 trillion covers what losses?

“The impact on our business is non-material losses, our good name and reputation will be destroyed because of what the State Secretariat has done,” said Yosef.

Then, if you add another loss, namely the contents of the hotel, the value will increase even more. Yosef believes the compensation should be bigger. “The total number of chairs, mattresses and so on is 30 if you want to count,” said Yosef.

[Gambas:Video CNBC]

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