The Straits Times 4 September 2008 ST Forum Indonesian businessman rebuts report The contents of your report attributed to wire agencies headlined, 'Corrupt businesswoman jailed' (July 30) may be read to misleadingly impute Mr Sjamsul Nursalim in a grave and damaging manner. Your report portrayed Mr Nursalim as standing 'accused of embezzling some three billion dollars in emergency bail-out loans to his bank during the Asian financial crisis in 1998'. This is baseless. There were never any charges by Indonesian authorities of any misappropriation related to the emergency bail-out funds. This was a case where a reputed historic bank BDNI, with many other Indonesian banks during the banking crisis more than a decade ago, received emergency liquidity support funds. All transactions at the time were transparently documented and counter-signed by public officials. Mr Nursalim personally repaid liquidity support funds for a publicly listed bank with the transfer of his major personal assets under a master settlement agreement signed by the Indonesian government, with the blessing of the World Bank and International Monetary Fund. Multiple parties and firms of international renown were involved in the legal settlement further to a presidential decree and statute to protect debtors' legal certainty. A release and discharge letter was given to Mr Nursalim signed by the Minister of Finance. IBRA had also made a publicly notarised legal statement stating that all obligations have been paid and has released and discharged Mr Nursalim from all liabilities. This is in black and white. IBRA later sold those assets. Mr Nursalim had no involvement in the timing, process nor amounts for the sale of those assets. We hope the international media will consider both sides of the story in presenting a fair and measured account of events. K. Krisnawan Corporate Communication Department GT Group Jakarta, Indonesia