KPPU Imposed Fines to Telecommunication Company for Late Notification.
(Jakarta – 20 September 2018) The Commission Council consisting of Yudi Hidayat, S.E., M.Si.,Kurnia Toha, S.H., LL.M., Ph.D and Dr. Guntur Syahpurta Saraguh, M.S.M. concluded the reading of Decision Number 05/KPPU-M/2017 on Alleged Violation of Article 29 of Law Number 5 of 1999 jo. Article 5 of Government Regulation Number 57 of 2010 relating to Late Notification on Share Acquisition of PT Iforte Solusi Infotek by PT Profesional Telekomunikasi Indonesia.
The Commission Council stated that the Reported Party (PT Profesional Telekomunikasi Indonesia) was legally and convincingly proven to have violated Article 29 of Law Number 5 of 1999 jo. Article 5 of Government Regulation Number 57 of 2010. Before the hearing, the Reported Party was proven to have made a late notification on the share acquisition of PT Iforte Solusi Infotek, with statutory thresholds for calculation of asset value or sales value of the acquiring company (PT Profesional Telekomunikasi Indonesia) i.e. amounting to Rp16,313,990,000,000.00 (Sixteen Trillion Three Hundred and Thirteen Billion Nine Hundred and Ninety Million Rupiah) and with the sales value amounting to Rp 3,982,272,000,000.00 (Three Trillion Nine Hundred and Eighty Two Billion Two Hundred and Seventy Two Million Rupiah). In addition, the Commission Council was of the view that PT. Profesional Telekomunikasi Indonesia made a late notification on the share acquisition to the KPPU for 79 (seventy nine) working days.
Based on the above facts, the Commission Council ordered the Reported Party to pay fines with the amount of Rp1,100,000,000.00 (One Billion One Hundred Million Rupiah) to the State Treasury.