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More questions than answers from 'Prince of Cikeas' business interests

Source
Jakarta Post - February 13, 2013

Hans David Tampubolon, Jakarta – The dazzling rise of Edhie "Ibas" Baskoro, 32, to power and wealth has focused the public eye on the enigmatic life of President Susilo Bambang Yudhoyono's youngest son.

In just a year, Ibas, dubbed the "Prince of Cikeas" after the site of Yudhoyono's private residence, has held several prestigious jobs in politics and business.

After spending time in colleges overseas between 1999 and 2007, Ibas secured a seat as a legislator for his father's Democratic Party late in 2009. In mid 2010, he was appointed the party's secretary-general.

In the business world, Ibas made his mark when appointed by powerful business lobbying group, the Indonesian Chamber of Commerce and Industry (Kadin), as deputy chairman for international tourism, culture and sports promotions in 2010. Only top businesspeople are assigned to fill top jobs.

The precise nature of Ibas' businesses and companies, however, is peculiarly difficult to establish with any certainty. Democratic Party politicians remained tightlipped when probed about Ibas' commercial activities.

"All I know is that Ibas has businesses, but I could not tell you the sectors that he is engaged in nor the names of the companies," said Democratic Party legislator Ruhut Sitompul recently.

However, a copy of Ibas' 2010 tax returns recently obtained by The Jakarta Post may shed some light into this area of darkness.

According to the documents, Ibas owns a share of PT Yastra Capital worth Rp 900 million (US$93,700). According to the Kadin website, Yastra Capital has an office on the 12th floor of the Sampoerna Strategic building in Central Jakarta.

The Post could not find any trace of any company by the name of Yastra Capital on a visit to the location last week. The entire 12th floor is occupied by an insurance company. However, on the 32nd floor of the tower, two companies share Yastra's name – PT Yastra Energy and PT Yastra Indonesia.

The office of Yastra Energy was occupied by a security guard and a receptionist. No activity at all could be perceived in the office of Yastra Indonesia. According to the guard and receptionist, Yastra Energy is engaged in the mining businesses and has no affiliation with Ibas.

They also said that Yastra Energy is owned by Aditya Djanaka. Aditya is well-known as a school friend of Yudhoyono's eldest son Maj. Agus Harimurti.

On the same floor, the Post came upon a company by the name of Berlian Entertainment, also founded by Aditya. Berlian Entertainment is a music promoter, famous for organizing concerts in Jakarta by Justin Bieber and New Kids on the Block.

When contacted by the Post via email, Ibas stressed that he had nothing to hide and that he had strictly fulfilled his obligation as a public official to transparently disclose his wealth and assets.

"As a public official, in my capacity as a House of Representatives' legislator, I have consistently submitted my wealth report to the KPK since 2009 and I have always fulfilled my obligation to submit my annual tax report in line with the law," Ibas said.

Ibas' 2010 tax returns have also raised questions. That year, he earned Rp 183 million as a lawmaker. Aside from shares in Yastra, he also recorded a cash deposit of Rp 1.59 billion and cash equivalents of Rp 1.57 billion.

Ibas did not declare any extra income, such as dividend payments, donations, stocks or investment proceeds. The assets reported on his 2010 tax return totalled Rp 6 billion, including an Audi Q5 SUV car worth Rp 1.16 billion.

As a legislator, Ibas is required to report his wealth to the Corruption Eradication Commission (KPK), where he declared assets of Rp 4.42 billion in 2009. In his 2009 tax return, Ibas' assets were valued at Rp 5.18 billion. He declared no additional income from other sources.

While his businesses and sources of wealth remain enshrouded in mystery, Ibas' activities as legislator raise yet more questions, particularly recent reports that he rarely attends hearings with the House Commission I on defense, intelligence and information. Ibas is a member of the commission.

Ibas was caught on camera on Tuesday asking his staff to bring him an attendance form for the House plenary session. After signing the form, he skipped the event. His aide, David Christian, denied that Ibas rarely attended House sessions, saying there were inaccuracies in the attendance data.

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