Jakarta, CNBC Indonesia – PT Garuda Indonesia Tbk (GIAA) received fines in the amount of Rs 1.25 billion. Sanctions were provided by the Financial Services Authority (OJK) and the Indonesian Stock Exchange (BEI).
This figure was recognized by President Garuda of Indonesia, I am Gusti Ngurah Ashkhar Dhanadiputra. "The total fine to be paid is Rs 1,25 billion," said Ari Ashkhara, his nickname, at a press conference in Kebong Sirih, Jakarta, Sunday (June 30, 2019).
Regarding the total, CNBC Indonesia has previously been considered and has no significant differences. The fine was imposed not only by Garuda Indonesia as a legal entity, but also by the management of the company as directors and commissioners who took part in the signing of the financial statements as at 31 December 2018.
OJK applies double fines to directors and commissioners of the company. Firstly, Administrative sanctions in the form of a fine of 100 million rubles on PT Garuda Indonesia (Persero) Tbk for violation of DEC DEC 29 / KO 04/2016 concerning the annual report of issuers or state-owned companies.The secondadministrative sanctions in the form of a fine of 100 million rupees for all members of the Board of Directors of PT Garuda Indonesia (Persero) Tbk for violation of Bapepam Regulation No. VIII.G.11 concerning the responsibilities of the Board of Directors of the Financial Reporting.Thirdly, Administrative sanctions in the form of a fine of 100 million RP jointly for all members of the Board of Directors and the Council of Commissioners PT Garuda Indonesia (Persero) Tbk, who signed the Annual Report PT Garuda Indonesia (Persero) Tbk for 2018 for violation of Regulation No. 29 / POJK. 04/2016 on the annual report of the issuer or a public joint-stock company.
In 2018, there were nine directors who held a leading position in Garuda, Indonesia. This means that the general fines for directors worth Rp 900 million. Directors and commissioners (with the exception of those who do not sign) collectively will also be charged 100 million Rupees for their responsibility for signing financial statements.
Fines have increased since IDX also imposed fines on issuers of a state airline worth 250 million rupees. This overlay occurs because it is considered to be a violation of the provisions of number III.1.2 of the IDX Regulation No. I-E in relation to the obligations to provide information.
Ari said the company agreed to the sanctions that were imposed, and will settle the fine. "We will perform and communicate first with IDX. We understand that this is due to the Financial Report for the first quarter of 2019, that's 2019 or 2018," said Ari.
(hoi / hoi)