JAKARTA – Jimmy Masrin submitted his resignation as Vice President Director of PT Lautan Luas Tbk (LTLS) last week (14/3). His resignation follows soon after his name was mentioned in an alleged state loss case related to corruption at Indonesia Eximbank (LPEI).

Joshua Chandraputra Asali, LTLS Director, stated that Jimmy Masrin has also resigned from all positions held at the company’s subsidiaries and affiliated group entities.

“Jimmy Masrin has expressed his willingness to support the transition process and the organisation of the general meeting of shareholders,” he said in a disclosure on Monday (17/3).

He added that the resignation would not have a material impact on the company’s operations, finances, or business continuity. “Strong corporate governance mechanisms have ensured a smooth transition,” he said.

Previously, Jimmy Masrin’s name was mentioned in the LPEI case, which allegedly caused state losses of IDR 11.7 trillion. Elly Mariana Tansil, LTLS Director, stated that Jimmy Masrin’s mention in the LPEI case was not in his capacity as President Director of PT Caturkarsa Megatunggal and Vice President Director of LTLS.

As of February 2025, the ultimate beneficiaries of LTL’s shareholding are Indrawan Masrin and Jimmy Masrin.

In addition to his role at LTLS, Jimmy Masrin is also a Director at PT Unggul Indah Cahaya Tbk (UNIC).

Fifi Afriyanthi, UNIC Corporate Secretary, confirmed that Jimmy Masrin is a Director at UNIC and the President Director of PT Caturkarsa Megatunggal.

“However, UNIC has no business relationship with PT Caturkarsa Megatunggal, so there is no material impact on UNIC in terms of operations, finance, or legal matters resulting from this issue,” she said. (LK/ZH)