Sukanto Tanoto
Encyclopedia
Sukanto Tanoto was said in 2008 as the richest Indonesian
, according to the Forbes
magazine with the total net worth
of US$ 3.8 billion (ranked 284th on Forbes 500
list). Started as a supplier of equipments and materials for the state own oil firm Pertamina
, Sukanto Tanoto then moved to the forest industry in 1973. He acquired public pulp and paper business Asia Pacific Resources International on New York Stock Exchange
, which then delisted in 2001. His current business vehicle is Raja Garuda Emas International or Royal Golden Eagle International (RGEI), a holding company
with its activities ranging from paper, palm oil
, construction, and energy business sectors.
province of the mainland China
. In 1966, when he was just 17 years old, Tanoto's education was suddenly put into an abrupt stop, because all local Chinese schools were shut down by Suharto after he took over the presidency
. Tanoto immediately conducted his first business. "I was studying in a Chinese school. I wasn't allowed to go to a national school because my parents held Chinese citizenship. I was considered a foreigner. I never learnt Bahasa Indonesia
formally," Tanoto recalls.
Working for 16 hours a day, the young Tanoto slowly moved from a common trading to snare contracts in building gas pipelines for multinational companies. His luck began to show up during the 1972 oil crisis. Oil prices went hike and oil producers rapidly expanded their operations. Tanoto's contracts grew dramatically and he managed to cash in his first US 1 million dollars.
With some capitals at hands, Sukanto Tanoto tried to force his luck on bigger business. Tanoto noticed that Indonesia exported wooden log
s, which were then converted into plywood
abroad in countries like Japan
or Taiwan
and then imported back to Indonesia with higher costs. Realizing this inefficiency and also an opportunity, Tanoto then wanted to start business in the pulp industry. However, he first needed a permit.
In the Suharto's administration era, it was a common practice to conduct business with politicians, who in turn were army generals, to ease permit applications. A skeptical army general, who at first doubted Tanoto's business plan, agreed to give him a 'permission' with a requirement that Tanoto must report him back when the factory is finished. In 10 months, Tanoto built his first pulp mill
, Inti Indorayon Utama
in the North Sumatra
province. The army general was impressed and he alerted the country's top leader. On 7 August 1975, Suharto descended to Medan
to inaugurate the factory. The new pulp industry initiated Tanoto's business with Suharto, which swiftly made himself as a new Indonesian tycoon in the 1980s.
Sukanto Tanoto was a self-educated entrepreneur. He felt pity that he could not continue his education. He learned English
word-by-word using a Chinese-English dictionary. In the mid 1970s, when he had established his business empire, he finally went to a business school in Jakarta
. Feeling unsatisfied, he continued to study at INSEAD, a reputable business school in Fountainbleu, France
. The feeling of having a dropped-out school makes him enthusiastic on pursuing more education. He makes a frequent visit to management courses at top universities, such as Harvard, Stanford, Kellogg
, Wharton
, Carnegie Mellon, etc., which he calls it a 'management holiday'.
In the mid 1990s, Tanoto and his family relocated to Singapore
and is having its base operation there. The Indonesian press speculated over this move that Tanoto was trying to seek safe place as a financial fugitive. Tanoto denies the allegation and is arguing that the relocation is merely for the effectiveness to meet with his international clients. He claims that he is still holding Indonesian passport and citizenship.
under the name of PT Inti Indorayon Utama
, which was built at a small village Porsea nearby Lake Toba
of North Sumatra
. The mill however did not run smoothly with the local people, who argued that it had polluted the area, performed major deforestation
and injustice land grabbing. From the beginning, the Indonesia's first pulp mill was full of conflict history. The initial permit released contained land disputes, the quality of air and water around Asahan River
degraded drastically, which was said to be responsible to certain skin diseases, reducing corp production and water contamination, was responsible for some landslide
disasters in the area and released toxic chlorine
gas during the 1993 boiler explosion. However during the Suharto administration
, Indorayon enjoyed freedom of its activities due to the close ties between its owner with Suharto. Demonstrations and legal action to the governmental agencies, that had started since 1986, failed to stop the factory's activities which in turn was answered by detentions, arrests, beatings, raids and violent acts by the local security forces.
Following the downfall of Suharto in 1998, public pressure began to grow, but it was always answered with violence and terrors by police officers hired by the company. Clashes between local residents, staffs and members of security forces were unavoidable and resulted six deaths and hundreds of injuries in 1999. As a result, President Habibie
temporarily put the mill on halt on 19 March 1999. Although lobbies were conducted by Indorayon's supporters, including the-then ministry of trade Jusuf Kalla
, the factory was closed down permanently by President Wahid
after fierce oppositions from local people and environmental activists followed by more fatal demonstrations.
, China
and Hong Kong
), Asia Pacific Resources International Holdings Limited (or APRIL
, a producer of fibre, pulp
and fine paper), Asian Agri (an agrobusiness industry which owns 20,000 hectares of oil palm
, rubber
and cocoa plantations in Indonesia, Philippines
, Malaysia and Thailand
), PEC-Tech (a construction and logistic service company), and Sateri
International (a producer of viscose fibre and dissolving pulp, headquartered in Shanghai
).
Note: RGM International has changed its name to RGE PTE LTD as of August 2009. In addition, RGE does NOT hold its operating companies but act as a management company representing the major shareholder.
http://www.sukantotanoto.net/index.php/from-rags-to-us-28b-fortune
Laurel Teo from The Business Times caught up with Sukanto Tanoto in Singapore, where he has been based for more than 10 years.
2.“A tycoon’s view”. FinanceAsia. June 2006.
http://www.sukantotanoto.net/a-tycoons-view
Recognising the merits of conservation and sustainable development, Sukanto Tanoto talked about his various businesses and his environmental philosophy with Jackie Horne from FinanceAsia.
3.“Indonesia's Corporate Clean-up - REPUTATION MANAGEMENT”. Financial Times. 21 February 2006.
http://www.sukantotanoto.net/index.php/indonesias-corporate-clean-up-
Sukanto Tanoto told Joe Leahy from Financial Times about the business need for his group's companies to rebuild their tarnished image.
(CSR) along with his other pulp business in Riau province. Through Riau Andalan Pulp & Paper (RAPP), Tanoto built schools, established a farming system to teach villagers an alternative cultivation than the slash-and-burn technique and made regular sustainable reports to NGOs, such as the World Wildlife Fund after the organization concerns over the conservation of forests in Riau province.
Sukanto Tanoto also set up The Tanoto Foundation, which awards Tanoto Foundation Professorship Award. In 2007, the award worth USD 130,000 was granted to two Indonesian academic scientists which have given their efforts to enable technological research programs for the society.
. It was estimated that the state of Indonesia had lost of a minimum of 786.3 billion rupiahs from this case. However, the group published a statement that the materials for the tax evasion
case were obtained from a former Asian Agri employee, who was on the run after embezzling more than US$ 3 million from the company.
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, according to the Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine with the total net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...
of US$ 3.8 billion (ranked 284th on Forbes 500
Forbes 500
The Forbes 500 was an annual listing of the top 500 American companies produced by Forbes Magazine. The list was calculated by combining five factors: sales, profits, assets, market value, and employees...
list). Started as a supplier of equipments and materials for the state own oil firm Pertamina
Pertamina
Pertamina is an Indonesian government-owned corporation which extracts and refines the country's oil and gas reserves. It was created in August 1968 by the merger of Pertamin and Permina...
, Sukanto Tanoto then moved to the forest industry in 1973. He acquired public pulp and paper business Asia Pacific Resources International on New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
, which then delisted in 2001. His current business vehicle is Raja Garuda Emas International or Royal Golden Eagle International (RGEI), a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
with its activities ranging from paper, palm oil
Palm oil
Palm oil, coconut oil and palm kernel oil are edible plant oils derived from the fruits of palm trees. Palm oil is extracted from the pulp of the fruit of the oil palm Elaeis guineensis; palm kernel oil is derived from the kernel of the oil palm and coconut oil is derived from the kernel of the...
, construction, and energy business sectors.
Biography
Born on Christmas Day 1949, Sukanto Tanoto was the eldest of seven boys. His father was an immigrant from the FujianFujian
' , formerly romanised as Fukien or Huguing or Foukien, is a province on the southeast coast of mainland China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, and Guangdong to the south. Taiwan lies to the east, across the Taiwan Strait...
province of the mainland China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. In 1966, when he was just 17 years old, Tanoto's education was suddenly put into an abrupt stop, because all local Chinese schools were shut down by Suharto after he took over the presidency
New Order (Indonesia)
The New Order is the term coined by former Indonesian President Suharto to characterize his regime as he came to power in 1966. Suharto used this term to contrast his rule with that of his predecessor, Sukarno...
. Tanoto immediately conducted his first business. "I was studying in a Chinese school. I wasn't allowed to go to a national school because my parents held Chinese citizenship. I was considered a foreigner. I never learnt Bahasa Indonesia
Indonesian language
Indonesian is the official language of Indonesia. Indonesian is a normative form of the Riau Islands dialect of Malay, an Austronesian language which has been used as a lingua franca in the Indonesian archipelago for centuries....
formally," Tanoto recalls.
Working for 16 hours a day, the young Tanoto slowly moved from a common trading to snare contracts in building gas pipelines for multinational companies. His luck began to show up during the 1972 oil crisis. Oil prices went hike and oil producers rapidly expanded their operations. Tanoto's contracts grew dramatically and he managed to cash in his first US 1 million dollars.
With some capitals at hands, Sukanto Tanoto tried to force his luck on bigger business. Tanoto noticed that Indonesia exported wooden log
Lumber
Lumber or timber is wood in any of its stages from felling through readiness for use as structural material for construction, or wood pulp for paper production....
s, which were then converted into plywood
Plywood
Plywood is a type of manufactured timber made from thin sheets of wood veneer. It is one of the most widely used wood products. It is flexible, inexpensive, workable, re-usable, and can usually be locally manufactured...
abroad in countries like Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
or Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
and then imported back to Indonesia with higher costs. Realizing this inefficiency and also an opportunity, Tanoto then wanted to start business in the pulp industry. However, he first needed a permit.
In the Suharto's administration era, it was a common practice to conduct business with politicians, who in turn were army generals, to ease permit applications. A skeptical army general, who at first doubted Tanoto's business plan, agreed to give him a 'permission' with a requirement that Tanoto must report him back when the factory is finished. In 10 months, Tanoto built his first pulp mill
Pulp mill
A pulp mill is a manufacturing facility that converts wood chips or other plant fibre source into a thick fibre board which can be shipped to a paper mill for further processing. Pulp can be manufactured using mechanical, semi-chemical or fully chemical methods...
, Inti Indorayon Utama
PT Inti Indorayon Utama
PT Inti Indorayon Utama is an Indonesia paper milling company founded in Sumatra, Indonesia, in 1989 and is owned by Indonesia's richest business man Sukanto Tanoto....
in the North Sumatra
North Sumatra
North Sumatra is a province of Indonesia on the Sumatra island. Its capital is Medan. It is the most populous Indonesian province outside of Java. It is slightly larger than Sri Lanka in area.- Geography and population :...
province. The army general was impressed and he alerted the country's top leader. On 7 August 1975, Suharto descended to Medan
Medan
- Demography :The city is Indonesia's fourth most populous after Jakarta, Surabaya, and Bandung, and Indonesia's largest city outside of Java island. Much of the population lies outside its city limits, especially in Deli Serdang....
to inaugurate the factory. The new pulp industry initiated Tanoto's business with Suharto, which swiftly made himself as a new Indonesian tycoon in the 1980s.
Sukanto Tanoto was a self-educated entrepreneur. He felt pity that he could not continue his education. He learned English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
word-by-word using a Chinese-English dictionary. In the mid 1970s, when he had established his business empire, he finally went to a business school in Jakarta
Jakarta
Jakarta is the capital and largest city of Indonesia. Officially known as the Special Capital Territory of Jakarta, it is located on the northwest coast of Java, has an area of , and a population of 9,580,000. Jakarta is the country's economic, cultural and political centre...
. Feeling unsatisfied, he continued to study at INSEAD, a reputable business school in Fountainbleu, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
. The feeling of having a dropped-out school makes him enthusiastic on pursuing more education. He makes a frequent visit to management courses at top universities, such as Harvard, Stanford, Kellogg
Kellogg School of Management
The Kellogg School of Management is the business school of Northwestern University in Evanston, Illinois, downtown Chicago, Illinois and Miami, Florida. Kellogg offers full-time, part-time, and executive programs, as well as partnering programs with schools in China, India, Hong Kong, Israel,...
, Wharton
Wharton School of the University of Pennsylvania
The Wharton School is the business school of the University of Pennsylvania, an Ivy League university in Philadelphia, Pennsylvania. Wharton was the world’s first collegiate business school and the first business school in the United States...
, Carnegie Mellon, etc., which he calls it a 'management holiday'.
In the mid 1990s, Tanoto and his family relocated to Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
and is having its base operation there. The Indonesian press speculated over this move that Tanoto was trying to seek safe place as a financial fugitive. Tanoto denies the allegation and is arguing that the relocation is merely for the effectiveness to meet with his international clients. He claims that he is still holding Indonesian passport and citizenship.
Pulp industry
In 1989, Sukanto Tanoto started a pulp millPulp mill
A pulp mill is a manufacturing facility that converts wood chips or other plant fibre source into a thick fibre board which can be shipped to a paper mill for further processing. Pulp can be manufactured using mechanical, semi-chemical or fully chemical methods...
under the name of PT Inti Indorayon Utama
PT Inti Indorayon Utama
PT Inti Indorayon Utama is an Indonesia paper milling company founded in Sumatra, Indonesia, in 1989 and is owned by Indonesia's richest business man Sukanto Tanoto....
, which was built at a small village Porsea nearby Lake Toba
Lake Toba
Lake Toba is a lake and supervolcano. The lake is 100 kilometres long and 30 kilometres wide, and 505 metres at its deepest point. Located in the middle of the northern part of the Indonesian island of Sumatra with a surface elevation of about , the lake stretches from to...
of North Sumatra
North Sumatra
North Sumatra is a province of Indonesia on the Sumatra island. Its capital is Medan. It is the most populous Indonesian province outside of Java. It is slightly larger than Sri Lanka in area.- Geography and population :...
. The mill however did not run smoothly with the local people, who argued that it had polluted the area, performed major deforestation
Deforestation
Deforestation is the removal of a forest or stand of trees where the land is thereafter converted to a nonforest use. Examples of deforestation include conversion of forestland to farms, ranches, or urban use....
and injustice land grabbing. From the beginning, the Indonesia's first pulp mill was full of conflict history. The initial permit released contained land disputes, the quality of air and water around Asahan River
Asahan River
Asahan River is a river in Sumatra, Indonesia, about 150 km long. It flows from the Lake Toba, flowing in north-eastern direction, in the upper course through the deep valley of Barisan Mountains. Asahan empties to the Strait of Malacca creating an estuary. City of Tanjung Balai is located near...
degraded drastically, which was said to be responsible to certain skin diseases, reducing corp production and water contamination, was responsible for some landslide
Landslide
A landslide or landslip is a geological phenomenon which includes a wide range of ground movement, such as rockfalls, deep failure of slopes and shallow debris flows, which can occur in offshore, coastal and onshore environments...
disasters in the area and released toxic chlorine
Chlorine
Chlorine is the chemical element with atomic number 17 and symbol Cl. It is the second lightest halogen, found in the periodic table in group 17. The element forms diatomic molecules under standard conditions, called dichlorine...
gas during the 1993 boiler explosion. However during the Suharto administration
New Order (Indonesia)
The New Order is the term coined by former Indonesian President Suharto to characterize his regime as he came to power in 1966. Suharto used this term to contrast his rule with that of his predecessor, Sukarno...
, Indorayon enjoyed freedom of its activities due to the close ties between its owner with Suharto. Demonstrations and legal action to the governmental agencies, that had started since 1986, failed to stop the factory's activities which in turn was answered by detentions, arrests, beatings, raids and violent acts by the local security forces.
Following the downfall of Suharto in 1998, public pressure began to grow, but it was always answered with violence and terrors by police officers hired by the company. Clashes between local residents, staffs and members of security forces were unavoidable and resulted six deaths and hundreds of injuries in 1999. As a result, President Habibie
Jusuf Habibie
Bacharuddin Jusuf Habibie , also known B. J. Habibie, was the third and shortest-serving President of Indonesia, serving from 1998 to 1999.-Early life and career:...
temporarily put the mill on halt on 19 March 1999. Although lobbies were conducted by Indorayon's supporters, including the-then ministry of trade Jusuf Kalla
Jusuf Kalla
is an Indonesian politician who was the 10th Vice President of Indonesia from 2004 to 2009 and Chairman of the Golkar Party during the same period. He was an unsuccessful candidate for the 2009 presidential election.-Early life:...
, the factory was closed down permanently by President Wahid
Abdurrahman Wahid
Abdurrahman Wahid, born Abdurrahman Addakhil , colloquially known as , was an Indonesian Muslim religious and political leader who served as the President of Indonesia from 1999 to 2001...
after fierce oppositions from local people and environmental activists followed by more fatal demonstrations.
Raja Garuda Mas International
With Raja Garuda Mas International (RGM International) holding company, Sukanto Tanoto controls his business empire. The company holds the Pacific Oil & Gas (a private energy resource company who runs in Indonesia, SingaporeSingapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
), Asia Pacific Resources International Holdings Limited (or APRIL
April
April is the fourth month of the year in the Julian and Gregorian calendars, and one of four months with a length of 30 days. April was originally the second month of the Roman calendar, before January and February were added by King Numa Pompilius about 700 BC...
, a producer of fibre, pulp
Wood pulp
Pulp is a lignocellulosic fibrous material prepared by chemically or mechanically separating cellulose fibres from wood, fibre crops or waste paper. Wood pulp is the most common raw material in papermaking.-History:...
and fine paper), Asian Agri (an agrobusiness industry which owns 20,000 hectares of oil palm
Oil palm
The oil palms comprise two species of the Arecaceae, or palm family. They are used in commercial agriculture in the production of palm oil. The African Oil Palm Elaeis guineensis is native to West Africa, occurring between Angola and Gambia, while the American Oil Palm Elaeis oleifera is native to...
, rubber
Rubber
Natural rubber, also called India rubber or caoutchouc, is an elastomer that was originally derived from latex, a milky colloid produced by some plants. The plants would be ‘tapped’, that is, an incision made into the bark of the tree and the sticky, milk colored latex sap collected and refined...
and cocoa plantations in Indonesia, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, Malaysia and Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
), PEC-Tech (a construction and logistic service company), and Sateri
Sateri
Sateri Holdings Limited is a manufacturer of dissolving pulp and viscose staple fiber. It is one of the largest companies in the specialty cellulose industry, supplying more than 10% of the world’s dissolving pulp....
International (a producer of viscose fibre and dissolving pulp, headquartered in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
).
Note: RGM International has changed its name to RGE PTE LTD as of August 2009. In addition, RGE does NOT hold its operating companies but act as a management company representing the major shareholder.
News
1. “From rags to US$2.8b fortune”. The Business Times. 7 April 2007.http://www.sukantotanoto.net/index.php/from-rags-to-us-28b-fortune
Laurel Teo from The Business Times caught up with Sukanto Tanoto in Singapore, where he has been based for more than 10 years.
2.“A tycoon’s view”. FinanceAsia. June 2006.
http://www.sukantotanoto.net/a-tycoons-view
Recognising the merits of conservation and sustainable development, Sukanto Tanoto talked about his various businesses and his environmental philosophy with Jackie Horne from FinanceAsia.
3.“Indonesia's Corporate Clean-up - REPUTATION MANAGEMENT”. Financial Times. 21 February 2006.
http://www.sukantotanoto.net/index.php/indonesias-corporate-clean-up-
Sukanto Tanoto told Joe Leahy from Financial Times about the business need for his group's companies to rebuild their tarnished image.
Corporate responsibilities and philanthropic activities
Having learned hard experience with Indorayon, Tanoto began to establish a corporate social responsibilityCorporate social responsibility
Corporate social responsibility is a form of corporate self-regulation integrated into a business model...
(CSR) along with his other pulp business in Riau province. Through Riau Andalan Pulp & Paper (RAPP), Tanoto built schools, established a farming system to teach villagers an alternative cultivation than the slash-and-burn technique and made regular sustainable reports to NGOs, such as the World Wildlife Fund after the organization concerns over the conservation of forests in Riau province.
Sukanto Tanoto also set up The Tanoto Foundation, which awards Tanoto Foundation Professorship Award. In 2007, the award worth USD 130,000 was granted to two Indonesian academic scientists which have given their efforts to enable technological research programs for the society.
Controversies
In May 2007, Indonesian officials hunted down the main players of Asian Agri Group, including Sukanto Tanoto, for tax embezzlementEmbezzlement
Embezzlement is the act of dishonestly appropriating or secreting assets by one or more individuals to whom such assets have been entrusted....
. It was estimated that the state of Indonesia had lost of a minimum of 786.3 billion rupiahs from this case. However, the group published a statement that the materials for the tax evasion
Tax evasion
Tax evasion is the general term for efforts by individuals, corporations, trusts and other entities to evade taxes by illegal means. Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability,...
case were obtained from a former Asian Agri employee, who was on the run after embezzling more than US$ 3 million from the company.
External links
- Sukanto Tanoto official biography and references.
- RGM International official website.
- Pulp Mill Watch group over Sateri International, one of Sukanto Tanoto's pulp industry under RGM International flagship.