JAKARTA. The Financial Services Authority (OJK) recorded that there were still 30 out of 35 multi-finance companies that did not have the required minimum capital of Rp 100 billion, despite having been warned many times through warning letters.
Bambang W Budiawan, Head of the OJK Non-Bank Financial Industry Supervision Department (IKNB), said most of the companies relied on investors to increase their capital. "75% of them already have investors. So they already have a deal with investors, "Budiawan said as quoted by Kontan on Thursday (28/11) yesterday.
The investors referred to by Budiawan mostly come from outside Indonesia such as Korea, Japan, and Singapore. However, Budiawan stressed that they would still be asked to follow the maximum shareholding regulation for foreign investors of 85 %.
Meanwhile, until the end of 2019, OJK targets the growth of multi-finance companies in Indonesia to reach 7%. But in its realization, the average growth of multi-finance companies as of September 2019 was only 3.53%, while their assets grew by 1.03%. (KR/AR)