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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: Troubled Indonesian tycoon to drop cabinet post: spokesman AFP - Saturday, November 22 JAKARTA (AFP) - - Indonesia's billionaire Welfare Minister Aburizal Bakrie will leave the cabinet next year, a spokesman said Friday, as the global economic crisis continued to batter his business empire. "He has no interest in returning as a minister for the term 2009-2014," Bakrie's spokesman Lalu Mara Satria Wangsa said. He refused to explain under what circumstances Bakrie would leave. "He will go when his job is finished. He's not resigning, it's just that he has no intention to continue the next term," he said. The tycoon and political powerbroker would continue to be a member of the Golkar party, the main group in the ruling coalition under President Susilo Bambang Yudhoyono, he said. Bakrie denied reports that he was interested in taking over from Vice President Jusuf Kalla as head of Golkar ahead of elections next year. "That's not correct. The focus of Golkar is to continue efforts to win the legislative elections," the spokesman said. Bakrie's family business empire, ranging from construction to coal and palm oil, has been hit hard by the global credit crisis and the slump in commodity prices. Shares in the group's companies have nosedived by as much as 90 percent as it struggles to pay off 1.2 billion dollars in debt due next year. Until recently, Bakrie was considered the richest man in Indonesia with a family fortune estimated by Forbes Asia magazine at 5.4 billion dollars. He told Forbes.com this week he wanted to spend more time with his family and his charity. "I have already contributed five years of my time. Now, I'd like to play with my grandchildren," he was quoted as saying. He dismissed allegations of a conflict of interest and suspicions he is using his political influence to try to save his family's faltering business empire. "Me? Never. Never. I am no longer a businessman. I know what (my family) is doing but I'm not a businessman at all," he said. "Life is tough at the moment for everybody," he added, referring to the economic downturn. One of his companies allegedly triggered a devastating mud volcano while drilling for gas in East Java two years ago, killing 13 and displacing more than 36,000. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Indonesia Troubled Indonesian tycoon to drop cabinet post: spokesmanAFP - Saturday, November 22 Indonesia wants access to jailed terror suspectAP - Saturday, November 22 Thousands displaced in Indonesia as quake toll hits sixAFP - Wednesday, November 19 Indonesia quake toll rises to six, more than 150 injuredAFP - Wednesday, November 19 Related Articles: Asia Pacific UN panel urges China apology to 1989 protestersAP - 25 minutes ago Tibetan exiles debate the future of the movementAP - 1 hour 15 minutes ago Philippine leader's plane makes emergency landingAP - 1 hour 37 minutes ago Singapore, China signs MOU on aviation security cooperationChannel NewsAsia - 1 hour 37 minutes ago Myanmar court hands comedian 45-year prison termAP - 2 hours 10 minutes ago Enlarge Photo Troubled Indonesian tycoon to drop cabinet post: spokesman Related Full Coverage Suharto Former Indonesian president All Full Coverage Most Popular – Asia Pacific Viewed Wall Street plunges again as panic spreads Is superfood omega-3 keeping its promise? Oil prices slump under $50 per barrel World stocks dive as panic spreads New strain of deadly Ebola virus discovered View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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