ASIATODAY.ID, JAKARTA — Blackstone Borneo Sdn. Bhd., a leading investment firm in Asia based in Malaysia, has expressed concern over an ongoing legal dispute involving its Indonesian subsidiary, PT Ratu Mega Indonesia (RMI).
In an official statement issued by the company’s Head of Legal, Blackstone emphasized its firm commitment to the rule of law, business accountability, and long-term investment in Indonesia.
“We respect the ongoing legal process. However, we feel the need to clarify public perception — this is not a matter of negligence, but a business partnership dynamic that has yet to find common ground,” said Fajar Dwi Nugroho, S.H., Legal Counsel for Blackstone, in Jakarta on Friday, July 11, 2025.
Investment Funds Allocated Properly, Project Remains Active
The lawsuit filed by PT Bara Asia Contractor (BAC) at the West Jakarta District Court accuses RMI of breach of contract in a business agreement related to silica sand. The claim amounts to USD 500,000, or approximately IDR 8.1 billion. According to RMI, however, the investment was fully utilized for project operational purposes and the project remains active, albeit not yet at the sales phase.
“To be clear — the project is ongoing. The funds were not misused. This is not about violations, but a difference in how we interpret business progress,” Fajar asserted.
As part of its corporate responsibility, RMI had issued an official statement as early as October 2024, under letter No. 001/SPKMGR/RMI/BAC/X/2024, expressing its willingness to return BAC’s investment funds. This letter was sent before the lawsuit was filed, underscoring that RMI has always been open to peaceful resolution.
“We’re not just willing to take responsibility — we proactively expressed our intention to resolve the matter amicably and with civility,” Fajar added.
Not Anti-Law, But Opposed to Coercion
Blackstone underscored that as a multinational entity, it will not succumb to unilateral pressure. While legal proceedings remain a legitimate recourse, Blackstone urges that the matter be resolved with fairness and mutual respect, free from politicization or personal targeting.
“We are a law-abiding company, but we will not be pressured. We stand by our reputation — and also by our principles,” he said.
Despite the ongoing lawsuit, Blackstone maintains strong interest in expanding its business in Indonesia, which it considers a strategic long-term partner.
Nonetheless, the sustainability of its investments must be supported by legal certainty and fair protection for all business stakeholders.
“We believe Indonesia is a premier investment destination. The value we have invested here — through several business units — far exceeds the amount currently in dispute. But we also expect Indonesia’s legal system to provide security and assurance for investors who come with goodwill,” Fajar stated.
He added that although Blackstone has consistently acted in good faith and advocated peaceful settlement, the company will not hesitate to pursue legal action if the responses they receive are disproportionate.
“We remain open to dialogue. But if goodwill is disregarded, we are prepared to pursue all available legal avenues to protect our business integrity and the reputation we’ve built,” he concluded. (AT Network)
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