JAKARTA – The Financial Services Authority (OJK) revoke the business license of PT Danasupra Erapacific Tbk (DEFI) after its license was suspended in January 2022 due to its unmet qualification of a minimum equity of IDR 100 billion.
In the information disclosure quoted Monday (29/8), Irianto Kusumadjaja, President Director of DEFI, confirmed the notification sent by OJK regarding its license revocation last week (24/8). “The company is now mandated to terminate business activities after the business license was revoked,” he added.
Said notification letter dictated DEFI to leave out the word “finance”, “financing”, or any sharia institutional activities from the business title, as well as to complete all obligations to its debtors and creditors accordingly.
OJK suspended DEFI’s activity after its failure to meet the requirements stated in the Article 87 Paragraph 2 of OJK Regulations (POJK) No.35/OJK.05/2018 regarding the Financing Company Business Arrangement.
The particular section of said regulation ordered any private financing companies that have obtained their business licenses prior to the POJK issuance and record equity of an amount less than the requirement stated in Paragraph 1 to gradually reach total equity of IDR 100 billion, at least, by December 31, 2019. (LK/ZH)