JAKARTA, RAKYAT NEWS – One of Indonesian giant private company, PT MNC Asia Holding Tbk. (BHIT), owned by Indonesian tycoon Hary Tanoesoedibjo, has officially responded to a colossal lawsuit worth Rp119 trillion (around US$7.7 billion) filed by toll-road operator PT Citra Marga Nusaphala Persada Tbk. (CMNP), controlled by businessman Jusuf Hamka.

In a disclosure to the Indonesia Stock Exchange (IDX), BHIT confirmed it had received information regarding the lawsuit and clarified its stance. The company strongly rejected CMNP’s claims, describing the legal action as baseless and exaggerated.

The lawsuit breaks down into Rp103 trillion (US$6.6 billion) in material losses and Rp16 trillion (US$1.03 billion) in immaterial losses. The dispute centers on a Negotiable Certificate of Deposit (NCD) issued by the now-defunct Unibank in 1999.

At the time, BHIT’s role was limited to acting as a broker or arranger in the transaction between CMNP and Unibank.

According to BHIT, the total value of the NCDs reached US$28 million (about Rp434 billion at today’s exchange rate), with maturity dates set for May 9, 2002, at US$10 million (Rp155 billion) and May 10, 2002, at US$18 million (Rp279 billion). However, in October 2001—seven months before maturity—Unibank was liquidated, leaving CMNP unable to redeem the securities.

BHIT emphasized that its involvement ended as early as May 1999, long before Unibank’s collapse.

The company insisted it never received any funds directly from CMNP and noted that CMNP had obtained annual confirmations from auditors regarding the validity of the NCDs.

“BHIT has no legal obligation whatsoever, let alone to pay damages as demanded by CMNP,” the company declared in its official statement.

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