The Indonesian Business Competition Supervisory Commission (KPPU) fined (19 December) Toko Alpha Pte. Ltd. IDR 1 billion for failing to meet the notification deadline for its acquisition of PT Aset Digital Berkat.
The acquisition, involving control of 99.9% of PT Aset Digital Berkat’s shares, became legally effective on January 27, 2023, but notification was submitted seven working days late on March 20, 2023. This violation contravened Article 29 of Law No. 5 of 1999 and Article 5 of Government Regulation No. 57 of 2010. The fine must be paid within 30 days of the decision’s finalization.
Source: https://kppu.go.id/wp-content/uploads/2024/12/Siaran-Pers-No.-113_KPPU-PR_XII_2024.pdf
