Jakarta –
The Financial Services Authority (OJK) has imposed administrative sanctions and/or written orders on PT Repower Asia Indonesia Tbk (REAL), PT Multi Makmur Lemindo Tbk (PIPA), and related parties for violations of provisions in the Capital Market sector.
Head of the OJK Literacy, Financial Inclusion and Communications Department, M. Ismail Riyadi, said that the sanctions were determined on February 6 2026 based on the results of the OJK inspection as part of law enforcement efforts to maintain the integrity and trust of the public in the Indonesian Capital Market.
He explained that in relation to material transactions carried out by PT Repower Asia Indonesia Tbk using funds from the Initial Public Offering (IPO), the Financial Services Authority had imposed administrative sanctions in the form of a fine of IDR 925 million. This fine was also imposed on Aulia Firdaus as President Director of PT Repower Asia Indonesia Tbk for the 2024 period amounting to IDR 240 million.
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Regarding the Initial Public Offering (IPO) of PT Repower Asia Indonesia Tbk, OJK also imposed administrative sanctions and/or written orders on PT UOB Kay Hian Sekuritas amounting to IDR 250 million. Apart from that, the company can also receive sanctions in the form of freezing its business license as Underwriter for 1 year after the sanction letter is issued.
“PT UOB Kay Hian Sekuritas is subject to Administrative Sanctions in the form of a Fine of IDR 250,000,000, Administrative Sanctions in the form of Freezing the Business License of PT UOB Kay Hian Sekuritas as Underwriter for 1 (one) year after the sanction letter is issued, and a Written Order to update the UOB Kay Hian Pte. Ltd. Securities account opening form in 2001,” he explained in a written statement, Saturday. (7/2/2026).
This fine was also imposed on Yacinta Fabiana Tjang as Director of PT UOB Kay Hian Sekuritas for the period December 2018 to February 2020 amounting to IDR 30 million and a written order in the form of a prohibition on carrying out activities in the Capital Market for 3 (three) years.
“UOB Kay Hian Pte. Ltd. was subject to administrative sanctions in the form of a fine of IDR 125,000,000.00 for being the party that caused PT UOB Kay Hian Sekuritas to violate the provisions,” explained Ismail regarding the other parties who were subject to sanctions in this case.
Ismail explained that PT Multi Makmur Lemindo Tbk was subject to administrative sanctions in the form of a fine of IDR 1.85 billion for the case of recognizing assets originating from the use of IPO proceeds in LKT 2023 which were not supported by adequate transaction evidence and therefore violated existing provisions.
Apart from that, OJK also imposed fines on Junaedi, Imanuel Kevin Mayola, Hendri Saputra, and Airlangga as Directors of PT Multi Makmur Lemindo Tbk for the 2023 period amounting to IDR 3.36 billion. Junaedi as the President Director of PT Multi Makmur Lemindo Tbk in 2023 was banned from carrying out activities in the Capital Markets Sector for 5 years.
“The imposition of administrative sanctions and/or written orders against PT Repower Asia Indonesia Tbk and PT Multi Makmur Lemindo Tbk and related parties is given as a firm step by the OJK in enforcing the law against parties who commit violations to maintain public trust in the Indonesian Capital Market industry,” explained Ismail.
“Furthermore, OJK will always carry out strict law enforcement and have a deterrent effect on criminals in the Capital Market sector so that the Indonesian Capital Market can run regularly, fairly and efficiently, and with integrity,” he concluded.
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date:2026-02-07 12:36:00