ICC Imposes Sanction on PT Karya Anak Bangsa App for Delayed Notification of the Acquisition of PT Global Loket Sejahtera
Jakarta, 3 May 2021 - Indonesia Competition Commission (ICC) imposed a fine on PT Aplikasi Karya Anak Bangsa (GOJEK) amounting to IDR 3,300,000,000.00 (three billion three hundred million rupiah) for delayed notification of its acquisition of PT Global Loket Sejahtera (LOKET). The said sanction was handed down in a Commission Council Hearing with the agenda for the Reading Out of Decision held today at ICC. The Decision in Case under Register Number 30/KPPU-M/2020 stated that GOJEK had violated the provisions of Article 29 of Law No. 5 Year 1999 regarding Prohibition of Monopolistic Practices and Unfair Business Competition (Law No. 5/1999) and Article 5 of Government Regulation No. 57 Year 2010 regarding Mergers or Consolidations of Business Entities and Acquisitions of Company Shares that may result in the occurrence of Monopolistic Practices and Unfair Business Competition.
This case had its origin from a pre-investigation of alleged delay in the notification of GOJEK of its acquisition on August 4, 2017 on most of the shares of PT Global Loket Sejahtera, a company owning the LOKET brand that is engaged in the field of technology, especially the provision of software in the shape of platform event and event creator. The Commission Council judged that the transaction is legally effective on August 9, 2017 in accordance with the existing provisions of laws and regulations. Therefore, GOJEK is obligated to make a notification of the acquisition of shares to ICC no later than 30 (thirty) days as from August 9, 2017, namely on September 22, 2017. However, GOJEK notified ICC of the acquisition of shares on February 22, 2019, hence, the Commission council is of the view that GOJEK has delayed in notifying the acquisition of shares for 347 (three hundred and forty-seven) days.
With due observance of such various facts found in the hearing proceedings, the Commission council stated that GOJEK had been legally and convincingly proven to have violated Article 29 of Law No. 5 Year 1999 Jo. Article 5 of Government Regulation No. 57 Year 2010. The Commission council sentenced GOJEK for such violation to pay for a fine amounting to IDR3,300,000,000.00 (three billion three hundred million rupiah) and must be remitted in the State Treasury no later than 30 (thirty) days after the Decision of ICC has had a permanent legal force (inkracht).