JAKARTA - PT Pembangunan Perumahan (Persero) Tbk (PTPP) was subjected to a sanction of IDR 1 billion for failing to deliver share acquisition notification of PT Centurion Perkasa Iman (PTCPI). This was conveyed by Deswin Nur, Head of the Public Relations Bureau of the Business Competition Supervisory Commission (KPPU), in a press release quoted on Monday (15/2).
He explained that PTPP should have notified the acquisition of PTCPI shares on August 14, 2019, but it was carried out on August 16, 2019. "The 57% PTCPI acquisition transaction was carried out on July 3, 2019, and was effective on July 4, 2019, which was the notification date regarding changes in company data by the Ministry of Law and Human Rights,” said Nur.
On the other hand, Yuyus Juarsa, the Corporate Secretary of PTPP, said that he respected KPPU's decision. "The company will file an objection to the court latest in 14 days after receiving the verdict," he stated.
The time period for submitting objection rights to the court is regulated in Law No.5/1999, concerning Prohibition of Monopolistic Practices and Unhealthy Business Competition, article 44 paragraph 2. (LK/VA)