Indonesia’s anti-corruption agency urged to probe wealth of candidates

Indonesia’s anti-corruption agency urged to probe wealth of candidates

Monday, February 24, 2014 – 10:36

The Jakarta Post/Asia News Network

The deputy governor of Jakarta, Basuki “Ahok” Tjahaja Purnama, has urged the Corruption Eradication Commission (KPK) not only to verify the wealth of successful candidates for public office but also to examine how they achieved their wealth

The 1999 Corruption Law requires all successful candidates for public office, including those of governor, regent and mayor, as well as legislative and regional representatives, to submit wealth reports before starting their new state jobs.

The former East Belitung regent said the KPK should also investigate whether or not the candidates had paid their taxes in accordance with the law.

“If they cannot confirm the legitimacy of their wealth, they should not be allowed to take up public office.

He said that since entering the reform era, the competition among those contending for state jobs had been getting ever fiercer but the use of funds gained from illicit practices in political campaigns should be minimized to allow candidates to compete fairly.

“It is not fair to have corrupt candidates compete against honest candidates. The people in general earn US$2 (S$2.50) a day, if a corrupt regent candidate is able to pay Rp 50,000 (S$5.38) per vote, he or she will win the election easily,” he said.



About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (, the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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