JAKARTA – The Financial Services Authority (lit. Otoritas Jasa Keuangan/OJK) suspended the business license of PT Danasupra Erapacific Tbk (DEFI) due to its failure in meeting the minimum equity requirement of IDR 100 billion. The Deputy Commissioner of Non-Bank Financial Industry Monitoring II of OJK, Moch Ihsanuddin, announced the news in the information disclosure quoted today (11/1).
In the suspension decree issued last week (4/1), OJK restricted any business activities of DEFI as it has yet to abide the Section 87 Article 2 of OJK Regulations No.35/_OJK.05/2018 regarding the Financing Company Business Management. “With the business activity suspension, the said financing company is now prohibited from conducting any business activities,” Ihsanuddin confirmed.
Specifically, Section 87 Article 2 of OJK Regulations states that an incorporated financing company that has obtained a business license prior to POJK was enacted and has equity below the requirements stated in Article 1 must have equity with stages at least IDR 100 billion by December 31, 2019.
As of September 2021, DEFI’s equity was recorded at IDR 79.58 billion, sliding from the same period in 2020 of IDR 82.47 billion. For the record, this company is engaged in financing for new and used vehicles, housing, and heavy and mining equipment. (LK/ZH)