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The Supreme Court upheld the sanctions on Charoen Pokphand

04 February 2021 12:35

JAKARTA - The Supreme Court (MA) decided the Business Competition Supervisory Commission (KPPU)’s decision regarding a fine of IDR 2.25 billion to PT Sarana Farmindo Utama (SFU), a subsidiary of PT Charoen Pokphand Indonesia Tbk (CPIN). This was conveyed by Deswin Nur, Head of Public Relations and Cooperation Bureau of KPPU, in a press release quoted on Thursday (4/2).

He explained that SFU was three years late in delivering notification, of the share acquisition of PT Prospek Karyatama, which was carried out on January 7, 2016. "The notification should have been delivered before February 18, 2016, but it was carried out on July 24, 2019," said Nur.

According to him, due to the delay, KPPU issued a decision on April 20, 2020, regarding violation of Article 29, Law No.5/199, concerning Prohibition of Monopolistic Practices and Unfair Business Competition. However, SFU was not satisfied with the KPPU's decision and filed a review to the Supreme Court. "The Supreme Court rejected the appeal filed by SFU," added Nur. (LK/VA)

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