State Assets Research Articles

Asset Recovery in Corruption Crimes

Efforts to return stolen state assets (stolen asset recovery) through criminal acts of corruption (TIPIKOR) tend not to be easy to carry out. Corruption perpetrators have extraordinarily wide and difficult access to hide or launder money from the proceeds of their criminal acts of corruption. The problem becomes increasingly difficult for recovery efforts because the haven for the proceeds of crime extends beyond the borders of the country where the criminal act of corruption was committed. This research aims to determine the mechanism for returning assets in criminal acts of corruption through criminal channels. The type of research used is normative research, and the data collection technique is library research. The research results show that the mechanism for returning assets in criminal acts of corruption through criminal channels has four stages: tracking assets, freezing or confiscating assets, confiscating assets, and returning and handing over assets to the victim's country.

Singapore’s Temasek Model and State Asset Management in China

Since the late 1970s, Singapore has been an important policy reference for China. Some Chinese policymakers viewed Temasek, its government holding company, as a model for state asset management. They studied Singapore’s approach, but ultimately chose a different institutional design when establishing the State-Owned Assets Supervision and Administration Commission (SASAC) in 2003. China’s engagement with Temasek subsequently concentrated on corporate governance, specifically boards of directors in state-owned enterprises (SOEs). Yet despite the Temasek model’s appeal, its influence in China was limited by the far greater size and indebtedness of the state sector; the weaker role of firm performance in asset and capital allocation; SOEs’ numerous social and welfare functions; lack of willingness to augment firm autonomy; and divergent interpretations of the Temasek model and its reference value. “Policy collage” by Chinese policymakers explains the existence of formal similarities between China and advanced capitalist economies without fundamental convergence in function.

Особенности признания и исполнения российскими судами решения международного инвестиционного арбитража на примере дела Tatneft v. Ukraine

The paper is dedicated to the controversial issue of recognition and enforcement of investment arbitration awards in the Russian courts, in particular, the necessity for a foreign investor after winning the case to overcome the defendant’s objections in national courts regarding the immunity of State assets from execution. The article analyses in detail the litigation in the Tatneft v. Ukraine case — as of today the only investment arbitration award which was recognised in Russia. The author examines the arguments of the Russian courts regarding the issues of jurisdictional immunity of the states in litigation on recognition and enforcement of arbitration awards as well as regarding the immunity of diplomatic property and state assets from execution.

THE INFLUENCE OF SELECTION AND JOB PLACEMENT ON EMPLOYEE PRODUCTIVITY AT THE STATE ASSETS AND AUCTION OFFICE IN MAKASSAR

This research is a quantitative descriptive study aiming to understand and analyze the impact of selection and job placement on employee productivity at the State Assets and Auction Office in Makassar. The data collecting methods used in this research include observation, questionnaires, and documentation. The population and sample used in this research consist of 40 respondents. The research result through statistical calculations using the Statistical Package for the Social Science (SPSS) version 27 regarding the influence of selection and job placement on employee productivity at assets and auction office in Makassar which was discussed in the previous chapters, the author draws the important conclusion that selection and job placement have a positive and significant on employee productivity. The result obtained for the selection variable (X1) against employee productivity (Y) show with a significance value of X1 against Y being 0.039, which is less than the value of alpha, that is 0.05 (0.039 < 0.05) and job placement variable (X2) against employee productivity (Y) show a significance value of X2 against Y being 0.009, which is also less than the value of alpha, that is 0.05 (0.009 < 0.05).

Study of land potential based on soil characteristics using interpolation and scoring methods for non agricultural uses: a case study in Wonosalam, Jombang District, East Java

The state asset land managed by UPN "Veteran" East Java is located in the Wonosalam District based on land certificate data issued by the Jombang BPN covering 13.5 hectares. Currently more than 50% of the land has not been used optimally to support learning, research and community service. The problems that arise in utilizing land assets to support learning, research and community service are 1) the legal boundaries of land ownership are not yet clear, 2) there is no land use master plan to support the learning process, 3) there is no potential data that can be used. prepare use and development plans. Against the background of the problems above, this research aims to map the potential of state land assets by "spatial interpolation, scoring and weight overlay" of land characteristics. Interpolation is a way of calculating the area of several representative measurement points, while scoring and "Weight Overlay" is a facility provided by ArcMap GIS which combines input spatial data with weighting (weight factor) and scoring. Land unit maps are obtained from overlaying relief, geology, slope and land use maps. Interpolation, Scoring and Weight Overlay of the nine land characteristics yielded a potential land asset for buildings, good category 16.61% (44,130.38 m2); moderate 25.66% (67,382.75 m2) and bad 7.523% (19,784.88 m2). Playing field potential, good category 54.73% (71,865.05 m2) and medium 45.27% (59,432.62 m2). Potential for road infrastructure development in the good category 32.38% (42513.74 m2); Moderate 42.68% (56035.24 m2) and Bad 24.94% (32748.69 m2), and all of these potentials are in Slightly Flat topography (Slope, 0-3%) to hilly (Slope, 15-25%).

Review of Asset Management Practice in Indonesian State-Owned Enterprise

This study examines Indonesian State-Owned Enterprises (SOEs) asset management methods, problems, and financial and operational performance effects. The report synthesizes case studies and academic research on how large organizations manage their huge and diverse asset portfolios and how governance, regulatory frameworks, and human resource practices affect their effectiveness. The research begins with case studies of talent management innovations from big Indonesian SOEs. These cases show how proactive human resource approaches can boost company commitment and reduce turnover, improving asset management efficiency. According to the research, governance and legal frameworks influence asset management techniques. Studies show that corporate governance quality affects SOE operational performance. The paper explores how reforms and legislation affect state asset management, highlighting the major changes in SOE governance and legal frameworks, particularly after economic and political reforms. Asset management difficulties for Indonesian SOEs include managing large and diverse asset portfolios, integrating modern management frameworks, and optimizing state asset revenue. According to the study, comprehensive asset management systems, governance transparency, and professional management can address these difficulties. The research examines how asset management strategies affect Indonesian SOE profitability, corporate governance, and performance measures. Strategic asset management boosts financial performance, especially profitability. SOE profitability is greatly affected by current asset and liability management. The study offers advice to Indonesian SOEs and policymakers. Enhancing financial and operational performance requires comprehensive asset management, governance changes, and strategic innovation. These efforts boost Indonesia's economy, demonstrating the importance of asset management in SOE performance.

FAILURE OF CRIMINAL LAW IN RECOVERING STATE LOSSES DUE TO CRIMINAL ACTS OF CORRUPTION

Effectiveness Returning state financial losses due to criminal acts of corruption is still far from expectations. In 2022, the number of decisions observed by ICW will increase fundamentally, namely 2,056 decisions with 2,249 defendants. In 2022, the average perpetrator of corruption will be imprisoned for 3 years and 4 months, which will cost the state Rp. 48,786,368,945,194.70 (Rp. 48,786 trillion). This article aims to describe the form of failure of Indonesian criminal law in efforts to return state assets and analyse the causes and consequences resulting from the failure of criminal law in efforts to return state assets. This research is based on qualitative research by conducting legislative studies and literature studies. The research results show that the form of failure to recover state financial losses is characterized by the increasing value of unrecovered state losses from year to year. This is a result of the legal vacuum that can be applied in efforts to recover state financial losses because the applicable legal formulation is no longer relevant or cannot reach the scope for confiscation of corruptors' assets so that judges have limitations in making sentences regarding the return of state losses. This has the impact of hampering equitable economic development and hindering foreign investors because the rulers and conglomerates use land to benefit certain groups. This research concludes that the formulation of criminal law cannot accommodate legal needs regarding the recovery of state financial losses due to corruption, so it is recommended to immediately pass the Asset Confiscation Bill.

Legal view on the concept of optimum models of public-private partnership in the security sector of Ukraine

The article is devoted to the study of public-private partnership in the security sector of Ukraine. It was established that public-private partnership is the highest form of interaction (cooperation) between the state and society, characterized by the involvement and exchange of resources provided by the non- state sector in order to increase innovation and efficiency in the public sector, as well as the development of certain areas.
 Attention is drawn to the fact that despite the fact that the Law of Ukraine «On Public-Private Partnership» does not single out the security sector as an area where interaction between the state and society is possible, the analysis of current legislation in the defense sphere and daily practice shows that the security sector is also sphere of implementation of public-private partnership. It is specified that a) the security of the state is a good that is necessary for the proper and full functioning of society; b) the sphere of state security contributes to the provision of public interest, which determines the need for proper interaction of the private and public sectors; c) the field of security, within which the public-private partnership is implemented, includes cyber security, public safety, protection of critical infrastructure facilities, border security and territorial integrity of Ukraine, etc.
 It is established that the study of public-private partnership models is impossible without taking into account the experience of the United States of America (Anglo-American legal system) and the European Union (Romano-Germanic legal system). It was concluded that the most optimal models of public-private partnership in the security sector for Ukraine are 1) implementation of priority projects in the field of infrastructure of local and state importance through the tender procedure (practice of the United States of America); 2) attraction of state assets by private companies, which makes it possible to implement many joint projects in the field of security (practice of the European Union); 3) contract for management and operation (of the European Union); 4) concession agreement.

Betting the farm: Rural illiberal State-building in Angola via Chinese loans

Abstract Angola’s government has historically championed the revival of the agricultural sector as a national priority, though it has remained unclear what role the nation’s peasantry is intended to play. Looking to the future while fixated on the past, the first failed recipe for growth was initially based on nationalizing the colonial export model by incorporating the social and economic forces of the rural economy. The government’s early embrace of authoritarian modernization has since pursued an illiberal rural development model seeking to entrench the state’s control over rural areas and extend elite reproduction capacities, exercised principally through a series of state-owned enterprises. Upon the end of the civil war in Angola in 2002, the timely arrival of Chinese loans and technical assistance allowed the administration of President José Eduardo dos Santos to revitalize this strategy with a return to the establishment of a series of state agro-industrial farms a quarter century later. A historical presidential transition in 2017 upended these strategies of rural governance, leading to a vast privatization scheme of state assets built up over decades. This article reveals how the Angolan state has historically sought to engineer elite minority control over the agricultural sector while marginalizing the vast majority of the main rural economic actor, the peasantry. Likewise, the case study provides insight into the hidden costs of Chinese loans on Angola’s rural economy.

The interconnectedness of European Banking and Shadow Banking for sustainable development goals: Insights from a network GVAR model

The goal of this study is to examine the interdependencies between the banking sector and shadow banking sector in selected European economies through the lens of sustainable development. Using a node-theoretic structure and a network GVAR model, we investigate the relationship between these sectors in a Sustainable Development Goals (SDGs) framework. With this in mind, we examine the interlinkages between the various economies, using a network GVAR model so as to examine the potential dominance of some entities in the system. We conclude that in Europe there are two important financial systems operating simultaneously: one is the European system, where Germany plays a leading role, and the other is the United Kingdom. Analytically, a shock to the banking sector of the European economies will have an impact on the shadow banking sector of the other European economies, whereas shocks to the shadow banking assets of the individual European economies will not have a statistically significant impact on the banking assets of the other European countries. Moreover, shocks in the British banking system significantly impact the European shadow banking assets, while shocks in the shadow banking assets of European member states do not significantly affect the British GDP, suggesting the importance of cross-border collaborations in SDG efforts. By exploring the interdependencies between European banking and shadow banking sectors, this study contributes to the understanding of how financial systems can influence sustainable development. The findings emphasize the significance of fostering innovation across borders and leveraging international interactions to achieve the SDGs.

Research on Main Innovations and Implementation Path of the New Chinese Higher Education Financial Regulation

The recently introduced Financial System for Institutions of Higher Learning, hereinafter referred to as the "new system," represents a significant stride towards reform and efficiency in China's higher education sector. Crafted with precision, this system aims to blend the unique characteristics of higher education institutions with the principles of reform while keeping a problem-oriented perspective at its core. One of the core goals of this initiative is to boost operational efficiency. This is achieved by seamlessly integrating the new System with updated budget management regulations, the government accounting system, and state assets management procedures. This alignment with financial guidelines for public institutions is a strategic move towards fostering greater financial stability and sustainability. The genesis of these financial and economic reforms can be traced back to the 18th National Congress of the Communist Party of China (CPC). Over time, these reforms have evolved in four key dimensions, signaling a profound transformation in how financial management and governance operate within the higher education realm. The effective implementation of the new system is poised to elevate the standards of financial management and governance efficiency within higher education institutions, thereby furnishing a dependable foundation for the pursuit of high-quality developments in the realm of higher education.

The Recovery of State Assets Due to Bankruptcy in State-owned Enterprises

This research intended to examine the elements of state loss on Indonesian corruption regulations and to assess the effort of asset recovery concerning state loss, resulting from corruption based on Indonesian law. This was normative legal research employing the statutory approach, the conceptual approach, the fact approach, and the case approach. The study revealed that the components of state loss consist of actual shortages of cash, securities, and goods; it was caused by illicit actions, either intentionally or negligently; and losses whose amount can be calculated based on the findings of the authorized agency or appointed public accountant. In the Indonesian legal system, asset recovery initiatives can be analyzed through the lens of both criminal and administrative laws. According to criminal law, asset recovery can occur in multiple stages of the criminal justice system, whereas under administrative law, asset recovery must comply with Article 34 of Government Regulation No. 48 of 2016 on the procedures for imposing administrative sanctions on government officials.
 Keywords: bankruptcy, state assets, state-owned enterprises

State Asset Utilization to Support Public Private Partnership Project in Indonesia: A State Asset Management Review

Public-Private Partnership (PPP) is one of the government strategies to provide infrastructure to serve the community. In the implementation process, PPP has challenges in land acquisition. In response to this challenge, the utilization of State Assets (Barang Milik Negara/BMN) in the form of land and buildings offers a prospective solution. To utilize the State Asset efficiently in the PPP scheme, the information on the asset should be updated based on the State Asset Management and Information System. This paper aims to describe the role of State Assets in supporting Public Private Partnership (PPP) projects in terms of achieving project financial feasibility using a particular study case and how to update the State Asset Management System. The methodology used in this paper uses qualitative methods with literature studies, focus group discussions (FGD), and interviews, to determine the intended role of State Assets. This paper shows that the existing asset management system has accommodated efforts to utilize state assets to support the PPP project. While from the information system point of view, the basic framework of the information system has been formed, the current project needs to be further developed referring to the basic framework of the information system so that it can effectively and efficiently support efforts to utilize state assets in PPP projects.

The Rise of Conservative Islam in the Indonesian Political Constellation

Pancasila as the basis of the state has an important position in the social order of the nation and state. Pancasila, which was extracted from the values and local wisdom of the archipelago, was agreed upon by the founders of the nation as a sentence that binds various ethnic groups, religions, races, and between groups who claim to be Indonesian citizens. However, with the development of science and the emergence of a war of thought, Pancasila is currently starting to receive a serious challenge from conservative Islamic groups who doubt and even reject the existence of Pancasila as the state ideology. They consider that Pancasila has failed to become an inspiration for the government in realizing the welfare of the people, so that as a country with a Muslim majority, Indonesia should implement Islamic law. In the midst of the shock of conservative Islam, there is also an attitude of hypernationalism that both claim to be Pancasila People. In the name of Pancasila, they reject the involvement of foreign companies, capital, and workers in managing state assets. On the other hand, in the name of maintaining Pancasila as the state ideology, there are often actions taken by the government that are considered severe against conservative Islamic groups which further is assumed to endanger the sovereignty of the state.
 Keywords: Pancasila, conservative Islam, hypernationalism

Optimization Non-Tax State Revenue through Reutilizing State-Owned Property

Aims: This research was conducted to fill the gap in the results of previous findings regarding to the effects of product quality on reutilization decisions of the state-owned property in West Kalimantan. Reutilization of state-owned property will be one of the strategies to increase non-tax state revenue and the fiscal strength both in central and local government.
 Study Design: The research was conducted by building and testing a model that can explain the direct influences of the quality of state-owned property, organizational image, and customer value on the decision to reuse state-owned property, as well as the indirect influences of the quality of state-owned property and organizational image on the decision to reuse state-owned property by using customer value as a mediator variable.
 Place and Duration of Study: The research was conducted in the West Kalimantan region with 150 respondents. The criteria of the respondents are business owners that have been using state property to conduct business activities for at least one year. The data are collected internally at the Regional Office of the Directorate General of State Assets of West Kalimantan in 2014-2022. In addition, the external data are from partners who have reused state property.
 Methodology: The research used the quantitative approach. The sampling technique in this research is Purposive Sampling. This technique used criteria chosen by the researcher in selecting the sample. Hypothesis was tested using SEM, while the data analysis technique was done by using SMART PLS version 3 software and questionnaire processing results was done by using a 5-point Likert scale as a variable measurement scale.
 Results: The results of data analysis show that the quality of state-owned property has no impact on the decision to reuse state-owned property, but the image of the organization and customer value have an influence on the decision to reuse state-owned property. The quality of state property and organizational image are proven to have a significant direct effect on customer value. The results of the analysis regarding the role of customer value as a mediator show that customer value mediates the effect of the quality of state property and organizational image on the decision to reuse state property.
 Conclusion: The conclusion of this research is that the owner of state-owned property must conduct continuing improvement of its asset management performance that will increase the organization's image. Furthermore, proper maintenance of state-owned property according to the provisions will attract the public to use it. Government agencies that own state-owned property must also make innovations and improve service quality on an ongoing basis, increasing the useful value as well as improving the quality of the physical condition of state-owned property. Therefore, the highly satisfied customers are encouraged to use it again.

АНАЛИЗ СОХРАНЕНИЯ И ПОВЫШЕНИЯ СТОИМОСТИ КОРПОРАТИВНЫХ АКТИВОВ В УСЛОВИЯХ ЦИФРОВОЙ ЭКОНОМИКИ

State-owned enterprises are important entities that can effectively guide and promote market development and lay the foundation for social development. State assets are an important prerequisite for the stable operation of state-owned enterprises. In the current environment of continuous development of the digital economy, promoting the preservation and enhancement of the asset value of state-owned enterprises is not only a requirement for the reform and development of state-owned enterprises themselves, but also an important way to give full disclosure to the role of state-owned assets in stabilizing the structure of the state economy and promoting high-quality social development. This article examines state-owned enterprises as the main object of research, paying special attention to the research and analysis of measures to preserve and increase the value of assets of state-owned enterprises in the digital economy.

ВОЗМОЖНАЯ КОНФИСКАЦИЯ РОССИЙСКИХ ГОСУДАРСТВЕННЫХ АКТИВОВ НА ЗАПАДЕ: ПРАВОВОЙ И ПОЛИТИЧЕСКИЙ ЦУГЦВАНГ

The paper examines the prospects for the possible confiscation of state assets of the Russian Federation in favor of Western countries. The case of confiscation of private assets is briefly considered. The precedents of the confiscation of sovereign assets are analyzed. The legal inconsistency of the intentions to confiscate Russian assets has been demonstrated. Despite the fact that Western countries are actively working on a regulatory solution to the issue, it is shown that the implementation of such a scenario carries serious risks to the international monetary system, can act as a driver of significant erosion of the Bretton Woods system and dollar hegemony in general. In this situation, any action, as well as inaction, leads to a deterioration of the situation, which refers us to the title of the article, causing an association with zugzwang.

ГРАНТИ USAID ТА UKAID ДЛЯ ПІДВИЩЕННЯ РІВНЯ ПРОЗОРОСТІ, ЕФЕКТИВНОСТІ ТА КЕРУВАННЯ В УПРАВЛІННІ ДЕРЖАВНИМИ ПІДПРИЄМСТВАМИ УКРАЇНИ

The article examines the possibilities of grant assistance under the SOERA Program, which is financed by the United States Agency for International Development (USAID) in the amount of 100 million US dollars and is implemented by its contractor – the Deloitte company. It is emphasized that for Ukraine such a tool of financial support is relevant in the context of both the implementation of the reform of state-owned enterprises in Ukraine and the involvement of "third sector" organizations in this process, the role of which is important for influencing the authorities in making key decisions. It was emphasized that the SOERA Program provides an opportunity for civil society organizations and educational institutions to receive grants and implement projects that will contribute to increasing the level of transparency, efficiency and management of state-owned enterprises (SOEs) and state assets of Ukraine, in particular, through conducting research, developing methodologies, projects program documents, recommendations, as well as organization of public distribution of developed materials. The objectives of the program were analyzed, the main ones of which are: providing support in creating a comprehensive and effective centralized information system for SEs (data collection and reporting) with the aim of helping the Government and other interested institutions make informed decisions regarding the sale and management of SEs, financial support for the development and implementation of a reform strategy SOE based on factual data and implementation roadmap, improvement of the legislative and regulatory framework to support the implementation of SOE reform and privatization strategy, support for the development by the Government of Ukraine of effective operational management mechanisms for enterprises that remain state-owned, ensuring transparency of SOE corporate management, reducing corruption among them is the reduction of fiscal pressure on state-owned enterprises, promotion of the growth of the private sector and direct foreign investment, and public support for state-owned enterprise reform and privatization. The importance of compliance by the applicant organizations with all criteria of acceptance of the Program and the development of the project according to its recommendations as a condition for making a positive decision on the provision of financing for projects is substantiated. The consequences of the implementation of projects with the financial support of the SOERA Program and their significant impact at the national and subnational levels are summarized.

Pelaksanaan Putusan Eksekusi BANI atas Sengketa Kontrak antara Badan Layanan Umum BP3TI dengan PT. Indonesia Comnets Plus dan Konsorsium NIPRESS

The Indonesian National Arbitration Board (BANI) is an option in resolving contract disputes between the government and private parties. When the government is in a losing position in a contract dispute according to the BANI decision, the government must comply with the BANI decision. This study aims to understand the implementation of the execution of BANI decisions that conflict with Law Number 1 of 2004 concerning State Treasury and the authority of the Supreme Court to address the issue of BANI decisions that conflict with Law Number 1 of 2004 concerning State Treasury. The focus of this research includes the execution of BANI decisions that are contrary to Law Number 1 of 2004 concerning State Treasury and the Authority of the Supreme Court to the Court that confiscates state assets. The research method used in this research is normative juridical through statutory and conceptual approaches using secondary legal data consisting of primary legal materials, secondary legal materials and tertiary legal materials. The data obtained from library research is then analyzed using descriptive qualitative. Based on the research, it is found that the execution of the BANI decision carried out by the court through the confiscation of a sum of money in an account belonging to the BP3TI Public Service Agency should not be carried out because this has contradicted Article 50 of Law Number 1 of 2004 concerning State Treasury. Therefore, the Supreme Court is expected to play a role in providing solutions by providing guidance to the lower courts including the district courts by issuing a Supreme Court Circular Letter (SEMA).

The Position of the Archipelagic Sea Lanes in the Makassar Strait Interregional Zoning Plan Policy

Objective: This study aims to analyze the position of archipelagic sea lanes in the Makassar Strait RZKAW. Theoritical Framework: Archipelagic sea lanes are waters that exist only in island states and are used for ship transport. Island countries that have ratified UNCLOS 1982 are required to implement their archipelagic sea lanes in legislation in order to determine the sea lanes that ships can pass through and flight routes over the sea by determining the axes to be included on maps and reported to the International Maritime Organization, so that they can be used for ships passing through the country's jurisdiction. The RZKAW is used to create plans for the use of marine space in inter-regional areas. Methods: This study uses a qualitative approach and emphasizes more on normative and empirical aspects. Results and Conclusion: The results of the study show that the responsibility of the State of Indonesia in utilizing archipelagic sea lanes with the existence of RZKAW refers to the provisions of previous legislation. RZKAW will provide space for the community to access state assets based on permits granted by the government and synchronized with development. In the future it will become an important water area, due to the high level of space utilization and multisectoral interests. There are different interests in the Makassar Strait, the regulations used for sea space are different. Similarly, agencies that conduct surveillance on marine space are also different. In order to anticipate conflicts of authority and disharmony in marine space regulations at RZKAW, the Maritime Security Agency (Bakamla) can take on the role of coordinator of security and safety patrols at sea. The study recommends integrated supervision in the utilization of archipelagic sea lanes in Indonesia's Makassar Strait. Imlication of the research: If Indonesia's capital city moves to East Kalimantan, the Makassar Strait will become an important water area, with higher space utilization and more multi-sectoral interests, necessitating effective and efficient supervision of AlKI II.