KPPU Imposed Fines of Late Notification to Agribusiness Company.

Friday, October 19, 2018

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(Jakarta – Thursday, 6 September 2018) The Commission Council decided case Number 06/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 on the Share Acquisition of PT Multi Makanan Permai by PT Japfa Comfeed Indonesia, Tbk.

The Reported Party, PT Japfa Comfeed Indonesia, Tbk., an agribusiness company, was deemed to have made a late notification on the share acquisition of PT Multi Makanan Permai to the KPPU within 310 (three hundred and ten) working days.

The Commission Council that consisting of Ukay Karyadi, S.E., M.E.,Dr. Drs. Chandra Setiawan, M.M., Ph.D., and Harry Agustanto, S.H., M.H. imposed fines to the Reported Party with the amount of Rp3,750,000,000.00 (Three Billion Seven Hundred and Fifty Million Rupiah) to be paid directly to the State Treasury.