BBKP - PT. Bank KB Bukopin Tbk

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JAKARTA. A shareholder of PT Bank Bukopin Tbk (BBKP), PT Bosowa Corpindo, asked OJK not to interfere in the affairs of Bukopin's shareholders, and OJK is only has to be a regulator.

President Commissioner of Bosowa Corpindo Erwin Aksa, holder of 23.40% of BBKP shares, said this was related to the OJK's letter dated 9 July 2020, which ordered Bosowa to authorize PT Bank Rakyat Indonesia Tbk's (BBRI) technical assistance team to take part in the Extraordinary General Meeting of Shareholders (EGMS) of BBKP.

One of the agendas planned for the EGMS is to increase capital through private placement. Erwin said that OJK asked Bosowa, through BRI's technical assistance team, to approve a private placement. Later,  all of the new shares issued by BBKP will be bought by KB Kookmin Bank Co Ltd, one of BBKP's shareholders. After the private placement, Kookmin will control 51% of BBKP shares.

Erwin considers OJK as inconsistent in implementing its policies. Because the letter sent by OJK on 10 and 11 June 2020 included, among others, a matter of technical assistance. On the other hand, on 16 June 2020, OJK sent a letter to Kookmin asking them to place a technical assistance team at BBKP.

With that case, Erwin emphasized that OJK should not interfere in the affairs of shareholders. "OJK just has to be the right regulator," said Erwin as quoted by Kontan.co.id on Tuesday (21/7).

Bosowa also rejected the OJK letter dated 9 July and thought it would sue OJK regarding the documents. (AM/AR)