OCBC Indonesia Files Police Report Against Owner of Indonesia Cigarette-Maker Gudang Garam & Billionaire Susilo Wonowidjojo for Alleged $15 Million Loan Fraud
11th February 2023 | Hong Kong
OCBC Indonesia (OCBC NISP) has filed a police report in Indonesia against owner of Indonesia cigarette-maker PT Gudang Garam & billionaire Susilo Wonowidjojo for alleged $15 million loan fraud (232 billion Indonesia Rupiah). OCBC NISP had granted the $15 million loan in 2016 (232 billion Indonesia Rupiah) alongside a total of $65 million loans including other lenders (1 trillion Indonesia Rupiah). Indonesia billionaire Susilo Wonowidjojo is one of the richest man in Indonesia with a fortune of around $3 billion to $4 billion. Cigarette-Maker PT Gudang Garam was founded in 1958 by Susilo Wonowidjojo’s father (Surya Wonowidjojo) and has a market capitalization of around $3.3 billion (Jakarta Stock Exchange, 10/2/23).
“ OCBC Indonesia Files Police Report Against Owner of Indonesia Cigarette-Maker Gudang Garam & Billionaire Susilo Wonowidjojo for Alleged $15 Million Loan Fraud “
PT Gudang Garam
Gudang Garam cigarette company is one of the leading cigarette companies in Indonesia, which was founded in 1958 in the city of Kediri, East Java. Until now, Gudang Garam is widely known both domestically and abroad as a producer of high-quality kretek cigarettes. Gudang Garam products can be found in various variations, from klobot kretek cigarettes (SKL), hand-rolled kretek cigarettes (SKT), to machine-rolled kretek cigarettes (SKM). For you true kretek connoisseurs, our commitment is to provide an irreplaceable experience of enjoying kretek made from selected high-quality materials. Starting from a home industry, the kretek company Gudang Garam has grown and developed along with good corporate governance and based on the philosophy of Catur Dharma. These values are our guide in corporate governance and performance for employees, shareholders, and the wider community. What Gudang Garam has achieved so far cannot be separated from the important role played by its founder, Surya Wonowidjojo. He is a true entrepreneur matured by experience and business instincts. In the eyes of the employees, he is not only a leader, but also a father, brother, and friend who is very concerned about the welfare of employees. Surya Wonowidjojo passed away on August 28, 1985.
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