Jakarta, February 27, 2026 — The Indonesian Competition Commission (KPPU) has held its first preliminary hearing in Case No. 08/KPPU-M/2025 concerning the alleged late notification of the acquisition of shares in PT Centra Multi Suryanesia Aset by PT ITM Bhinneka Power.
The hearing, which took place on February 26, 2026 at the KPPU office in Jakarta, addressed alleged violations of Article 29 of Law No. 5 of 1999 in conjunction with Article 5 of Government Regulation No. 57 of 2010 regarding late notification of share acquisitions. The agenda included the presentation of the Alleged Violation Report by the Investigator and the examination of the completeness and conformity of documentary evidence.
The panel was chaired by KPPU Commissioner Moh. Noor Rofieq, with KPPU Chairman M. Fanshurullah Asa and Commissioner Rhido Jusmadi serving as panel members.
The case stems from PT ITM Bhinneka Power’s acquisition in 2023 of 65% of the shares in PT Centra Multi Suryanesia Aset, valued at IDR 6.5 billion. The transaction became legally effective on September 21, 2023.
According to KPPU, PT ITM Bhinneka Power met the applicable asset and/or sales thresholds requiring mandatory notification and was therefore required to notify the Commission within 30 days of the transaction becoming legally effective. The notification should have been submitted by November 2, 2023, but was received by KPPU on November 7, 2023.
The Commission therefore alleges a delay of three working days in the submission of the notification, which may constitute a violation of Article 29 of Law No. 5 of 1999 in conjunction with Article 5 of Government Regulation No. 57 of 2010.
Following the presentation of the Alleged Violation Report and the examination of the evidence, the panel scheduled the next preliminary hearing for March 9, 2026, during which the reported party will present its response to the Alleged Violation Report.
Source: https://kppu.go.id/wp-content/uploads/2026/02/Siaran-Pers-No.-08_KPPU-PR_II_2026.pdf
