Indonesian authorities have apprehended a Chinese real estate executive accused of defaulting on a corporate loan worth $138 million.
The 58-year-old suspect, identified only as WZ, was taken into custody last Thursday on Batam Island following a request from the Chinese embassy in Jakarta, according to Indonesia’s immigration intelligence director, Agus Waluyo.
Officials said WZ previously served as president and director of a Chinese property firm that failed to repay 980 million yuan ($137.8 million) in loans.
The default reportedly triggered a police probe in China, where he was subsequently declared a financial crime suspect before fleeing the country.
Agus revealed that WZ had travelled across several Asian countries since August before entering Indonesia on October 7.
“WZ has been detained for further investigation by the Directorate General of Immigration,” Agus told a news briefing, noting that Indonesian authorities have been communicating with their Chinese counterparts.
China’s once-thriving property sector, fuelled for decades by rapid urbanisation and improved living standards, has been in steep decline since 2020 when Beijing introduced measures to curb excessive borrowing.
The shift has rattled the broader economy and contributed to the downfall of major developers, including Evergrande.
In recent months, Indonesia has also detained and deported various foreign nationals wanted in their home countries, with Southeast Asia seeing particular attention on individuals linked to online scam operations.
