Indonesia declared 117.3 b (S$12.2billion) of assets held in Singapore

Indonesia declared 117.3 billion rupiah (S$12.2billion) of assets held in Singapore, Indonesia's Finance Ministry.

A small proportion 14.1 trillion rupiah which is about 12 percent has been repatriated.

The Singapore authorities previous refuted claims by Indonesian media that some of the Republic's banks lured Indonesian clients into leaving their assets in the country instead of repatriating to home.

Indonesia's Ministry of Finance issued the statement said it has received more than 20 trillion rupiah under the tax Amnesty programme.

The assets held by Indonesia in Singapore estimated to be worth US$200 billion and part of it which will be US$40 billion could go back to Indonesia.