Investors still trust Garuda Indonesia: President Director

Garuda Indonesia's President Director Ari Askhar said investors still fully trusted the performance of the national flag carrier which would also continue to be committed to carrying out transparency and good governance.


Ari Ashkar told a press conference here on Sunday that he would continue to be committed to good corporate governance and would continue to carry out information transparency in accordance with regulations set by the regulator.

According to Ari, his party also believes that the decisions set by the Ministry of Finance and the Financial Services Authority (OJK) will not affect the performance of the state airlines.

"Our cash flow is still positive, so this will not affect Garuda's performance," he said.

The President Director of Garuda has also received a response from various investors who stated that they had conducted an assessment and were still confident about the performance of Garuda Indonesia.

Earlier, Minister of Finance Sri Mulyani imposed sanctions on Public Accountant Kasner Sirumapea and Public Accountants Offices Tanubrata, Sutanto, Fahmi, Bambang & Rekan, auditors of financial statements of PT. Garuda Indonesia and Subsidiaries for 2018.

Sanctions imposed are in the form of freezing of permit for 12 months (KMK No.312 / KM.1 / 2019 dated June 27, 2019) against Public Accountant Kasner Sirumapea for committing a serious violation which has the potential to significantly influence the opinion of the Independent Auditor's Report.

The OJK also asked Garuda to improve the 2018 annual financial report within 14 days or two weeks regarding violations based on the results of examinations with the Ministry of Finance.

Garuda was also asked to carry out public expose on the repairs and restatements of the annual financial report as of December 31, 2018, no later than 14 days after the stipulation of the sanction letter.