Standard Chartered & MAXpower

How MLex Exposed a Conspiracy of Corruption & Cover-ups

October 2016

Dive into the details of the alleged corruption at MAXpower, an Indonesian power plant company controlled by Standard Chartered bank's private equity and venture capital arm.

The Report collates eleven exclusive insights published by MLex between April and September 2016, including:

  • MAXpower corruption allegations center around scheme to use company cash advances to pay bribes.
  • Indonesia's MAXpower fired whistleblower in run-up to attempted bond issue.
  • Allegations against MAXpower extend to suspicious transactions with related parties.
  • CEO of debt-plagued MAXpower received $400,000 in bonuses since appointment in September 2015.
  • MAXpower directors, founders secretly recorded discussing how to pay cash to Indonesian officials.

The exclusive reporting featured in this report won two awards at the Society of Publishers in Asia Awards for Editorial Excellence 2017:

  • Excellence in Business Reporting 
  • The Scoop Award