JAKARTA – PT Mitra Keluarga Karyasehat Tbk (MIKA), the owner of Mitra Keluarga Hospital network, is sanctioned with an IDR 1 billion fine due to the late notification of the acquisition of PT Bina Husada Gemilang (BHG). MIKA had reportedly acquired 48,400 shares or approximately 80% of BHG for IDR 240 billion.
In the press release quoted Tuesday (25/10), said sanction was imposed during the Assembly Meeting of Indonesia Competition Commission (lit. Komisi Pengawas Persaingan Usaha/KPPU) that took place yesterday (24/10). The Assembly of Commssioners found that the acquisition of BHG took effect on February 1, 2019. However, the notification letter regarding said corporate action was received on February 25, 2021, instead by March 18, 2019, or 30 days after the acquisition was made official.
MIKA is then declared violating the Article 29 of Act No.5/1999 regarding the Prohibition of Monopolistic Practices and Unhealthy Business Competition juncto Article 5 of Government Regulations (PP) No.57/2010. The fine must be paid no later than 30 days after the legal decision took effect. (LK/ZH)