$3.9 Billion BLBI Debtor Marimutu Sinivasan Arrested at Immigration Checkpoint
Jakarta. Marimutu Sinivasan, a prominent debtor in the Bank Indonesia Liquidity Support (BLBI) scandal, was arrested by immigration officials on Sunday as he attempted to flee to Kuching, Malaysia.
"Marimutu Sinivasan was detained by Entikong Immigration officials while trying to escape to Kuching, Malaysia," Muhammad Tito Andrianto, Head of the West Kalimantan Regional Office of the Ministry of Law and Human Rights, said in a statement on Monday.
Tito explained that the arrest took place after Marimutu Sinivasan claimed to be ill while passing through the Immigration checkpoint at the Entikong Border Post. "Immigration officials at the checkpoint scanned his travel documents, including his passport, into the crossing system," Tito added.
The system revealed that he was on the list of Indonesian citizens banned from leaving the country. "Following the preventive measures issued by the Directorate General of Immigration, officials delayed his departure," Tito noted.
The BLBI Task Force praised the Directorate General of Immigration for its role in apprehending Sinivasan. The Task Force continues to work on collecting the substantial debts related to the BLBI funds.
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BLBI Task Force Chairman Rionald Silaban stated that Sinivasan still owes a significant amount related to the BLBI funds. "Our records indicate that approximately $3.9 billion (Rp 60 trillion) in dollar-denominated debt and Rp 31 trillion in rupiah, remains outstanding," Silaban said.
Sinivasan, an Indian-born businessman who founded the Texmaco Group in Indonesia in the 1970s, initially thrived through his textile business, expanding into automotive, heavy equipment, and real estate sectors. However, the Asian financial crisis of the late 1990s led to Texmaco's financial collapse, prompting the government to provide BLBI assistance.
Silaban mentioned that while Sinivasan has been making some payments, they are still far below the required amount. "So far, we have received only around Rp 30 billion, which is still quite insufficient," Silaban noted.
Silaban expressed gratitude to the Directorate General of Immigration for its preventive measures, which he believes will help ensure Sinivasan does not evade his responsibility to repay the BLBI funds. "The preventive measure is set to expire in December, so he cannot leave Indonesian territory until then," Silaban said.
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