JANGAN BISNIS SAMA PEMERINTAH!

Summary

The speaker discusses the challenges of being a vendor in construction projects, particularly with government-linked companies, detailing the significant unpaid debts amounting to trillions. They recount their personal experience with Waskita Beton, where they are owed billions, and the complicated process of recovering these funds, including the conversion of debts into shares with unclear terms. The conversation highlights the broader issue of trust in BUMNs and the harsh realities of doing business in the construction sector in Indonesia.

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Q & A

What is the total amount of unpaid debts mentioned in the transcript?

The total amount of unpaid debts mentioned is in the trillions, specifically mentioning 800 billion from one source and 3 billion from another.

What is the issue with the 'Reksa Dana Terproteksi' (Protected Fund) mentioned in the transcript?

The issue is that the Protected Fund has failed to pay for over two years, and there is a scheme to pay back only 15% of the remaining debt in 6 years with a 2% annual interest, while 85% of the debt is to be converted into shares over the next 10 years.

What is the impact of the unpaid debts on the speaker's business?

The unpaid debts have significantly affected the speaker's business, causing stress, the need for additional capital injection, and impacting the livelihoods of the employees and their families.

What is the speaker's experience with BUMN (State-Owned Enterprises) prior to the current issue?

The speaker had a positive view of BUMN, having previously not experienced issues with them, especially during the monetary crisis of 1998, and believed in their stability.

What was the speaker's expectation when they first engaged with Waskita Group?

The speaker expected that the BUMN would be reliable and capable of managing their debts, especially given the good ratings of Waskita Group in 2019.

What challenges did the speaker face when trying to submit invoices to Waskita Group?

The speaker faced difficulties such as rejections due to COVID-19 restrictions, reorganization within Waskita Group, and lack of responsiveness from the central office in Jakarta.

What is the speaker's view on the role of BUMN in the economy?

The speaker believes that BUMN should be building the nation and benefiting the people, but instead, they are causing significant problems and hardships for businesses.

What is the speaker's advice for others who might be considering doing business with BUMN or government projects?

The speaker advises others to be very cautious, especially with payment terms, as there is a high likelihood of debts not being paid in the current climate.

What is the speaker's opinion on the transparency and communication from Waskita Beton regarding the debt issue?

The speaker is critical of the lack of transparency and responsiveness from Waskita Beton, noting that they have not been kept informed about the debt resolution process.

What is the speaker's current situation regarding the debt owed to them by Waskita Beton?

The speaker is left with shares as a form of debt repayment, with the hope that the value of these shares may appreciate in the future, but there is still uncertainty about the exact terms and timeline for this repayment.