(Photo: Investor Daily Photo)
Shares in property developer PT Agung Podomoro Land Tbk plunged 10 percent on Monday, after Indonesia’s anti-graft agency launched an investigation that raised concerns that a multi-billion-dollar project could be delayed.
Ariesman Widjaja, the firm’s chief executive officer, is suspected of bribing a member of the Jakarta provincial assembly to influence the regulation for a land reclamation, the Corruption Eradication Commission (KPK) said in a statement dated Friday.
The anti-graft agency said it had caught the Jakarta official receiving 1.14 billion rupiah ($86,725) in cash from an Agung Podomoro employee at a shopping mall a day earlier.
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