Last week, Suara Karya, a newspaper closely related to Golkar Party, published a rumor that government is about to reopen the case of tycoon Sjamsul Nursalim who lives in Singapore in the last few years. Government is desperately needs to boost the tarnished image of corruption erradication drive as many criticized the selective method implemented by attorney general's office (AGO) to high-level criminal cases.

I hope this time AGO really serious to prosecute Nursalim. Last year, cabinet secretary Sudi Silalahi admitted Nursalim's case was one of five cases under preparation to be handed over to court. Others incluced another tycoon Prayogo Pangestu, the fugitives Irawan Salim (former owner of Bank Global) and Sudjiono Timan (former president director of Bahana, a state-owned investment bank).

But almost one year has gone, Nursalim is still out there living in peace. In Singapore, Nursalim use his Chinese name Lim Tek Siong (formerly known as Liem Tek Siong) as the shareholder Tuan Sing Holdings. His wife, Itjih Sjamsul Nursalim or Go Giok Lian is also listed as shareholder of Tuan Sing. The pair also controls Nuri Holdings Ltd, but early last year Itjih handed over the ownership to her daughter named Liem Mei Kim (husband of Dr Tan Enk Ee).

The family owns Habitat Properties Ltd, and bought Goldplus, which had just purchased 69 Holland Road, now called Holland Mews. Habitat has some properties in Singapore such as University Park, Reservoir Villas, Royal Court, Anderson Green, Century Woods, and St Martin Residence. Meanwhile Tuan Sing has hundreds of subsidiaries with total assets of S$770.9 million as of December 2004 and net profit of S$14.3 million. Son William Susanto Nursalim is also the executive director of the company.

Nursalim owes the government Rp28 trillion (US$2.8 billion) due to the collapse of his bank PT Bank Dagang Nasional Indonesia Tbk in 1998. Under the settlement signed in 1998 with Indonesian government, Nursalim handed over three major assets to Indonesia Bank Restructuring Agency (IBRA). They were PT Gajah Tunggal (the largest tire producer), GT Petrochem Industries (polyester and chemicals), and Dipasena (shrimp farm).

Garibaldi Venture Fund Ltd, a Singapore-registered company, then bought Gajah Tunggal (78%) and GT Petrochem (20%) from IBRA. But in its report in June 2005, Garibaldi’s shares decreased to 43.58%, while Global Union Fiber Investment Ltd 11%, and Michelin 10%.Ownership at GT Petrochem also changed where HSBC Trustee Limited is the largest shareholder now with 33.95%, followed by Gajah Tunggal 28.19% and PT Satya Mulia Gema Gemilang 10.28%. People believe Nursalim family still control both Gajah Tunggal and GT Petrochem.