PT Wijaya Karya Beton is Found Guilty by KPPU.

Tuesday, October 29, 2019

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KPPU held a hearing with an agenda for the reading out of the ruling of case Number 04/KPPUM/2019 regarding Alleged Violation of Article 29 of Law Number 5 Year 1999 Jo. (in conjunction with) Article 5 of Government Regulation Number 57 Year 2010 regarding Delayed Notification of the Acquisition of Shares of PT Citra Lautan Teduh by PT Wijaya Karya Beton, Tbk.

In the hearing, the Panel of Commissioners was of the view that PT Wijaya Karya Beton, Tbk had been Delayed in Notifying KPPU of the Acquisition of the Shares of PT Citra Lautan Teduh. PT Wijaya Karya Beton, Tbk should have made the Notification for the value of the assets and/or the sales value exceeds a certain amount, not constituting an affiliated company, and constituting a transaction that resulted in the change of the controlling party.

PT Wijaya Karya Beton, Tbk has been delayed in making the Notification exceeding the deadline for Notification, namely 30 (thirty) days as from the coming into effect of the Acquisition namely December 16, 2014, consequently, the deadline of the Notification was January 29, 2015, however, PT Wijaya Karya Beton, Tbk made the Notification on May 7, 2019.

After going through the hearing phase and obtaining adequate instruments of proof, then the Panel of Commissioners decided that PT Wijaya Karya Beton, Tbk had been legally and convincingly proven to have violated Article 29 of Law No. 5 Year 1999. The Panel of Commissioners decided to sentence PT Wijaya Karya Beton to pay for a penalty amounting to IDR1,000,000,000 (one billion rupiah).