Monday, May 3, 2021

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Indonesia Competition Commission (ICC) imposed a sanction on PT Dharma Satya Nusantara Tbk (DSNG) for delayed notification of the share acquisition of PT Karya Prima Agro Sejahtera (KPAS). In its today’s Commission Council Hearing for the Reading out of Decision, ICC imposed an administrative fine of IDR1,200,000,000 (one billion two hundred million rupiah) on DSNG. Such sanction constitutes the third time sanction imposed by ICC on DSNG since 2020 for the same type of case. The previously imposed sanctions were concerning its delayed notification of the acquisition of PT Rimba Utara and PT Agro Pratama.

The case under Register Number 34/ KPPU-M/2020 had its origin from a pre-investigation conducted by ICC on the alleged delayed notification made by DSNG (a company engaged in the field of wood industry, agroindustry, and plantation) in its acquisition transaction of all of the shares of PT Karya Prima Agro Sejahtera, a company engaged in the filed of oil palm plantations. During the hearing proceedings, the transaction conducted was found to have come into effect on January 30, 2012 and its should have been notified to ICC by not later than March 9, 2012. However, PT Dharma Satya Nusantara Tbk just made written notification to ICC on November 26, 2019.

Based on such various facts, assessments, and analyses as conducted by the Commission Council, PT Dharma Satya Nusantara Tbk (DSNG) was decided to have been legally and convincingly proven in violation of Article 29 of Law No. 5 Year 1999 Jo. Article 5 of Government Regulation No. 57 Year 2010. Therefore, the Commission Council sentenced DSNG to pay for a fine of IDR 1,200,000,000 (one billion two hundred million rupiah) and remit it to the state treasury by no later than 30 (thirty) days after the Decision of ICC has had a permanent legal force (inkracht).