OJK Asks IDX to Verify Garuda Indonesia's Financial Report

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Laila Afifa

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  • Garuda Indonesia's Boeing 737 Max 8 airplane is seen as it parked at the Garuda Maintenance Facility AeroAsia, at Soekarno-Hatta International airport near Jakarta, Indonesia, March 13, 2019. REUTERS/Willy Kurniawan

    Garuda Indonesia's Boeing 737 Max 8 airplane is seen as it parked at the Garuda Maintenance Facility AeroAsia, at Soekarno-Hatta International airport near Jakarta, Indonesia, March 13, 2019. REUTERS/Willy Kurniawan

    TEMPO.CO, Jakarta - The Financial Services Authority's (OJK) board of commissioners' chief Wimboh Santoso asked the Indonesia Stock Exchange (IDX)  to verify the 2018 financial statements of state-owned airline Garuda Indonesia (IDX: GAAI).

    This request was made following the dissenting opinion of two commissioners in Garuda who refused to approve the financial statements.

    "We are asking the IDX and the Self Regulatory Organizations (SRO) to do that. The results can be reported to the OJK," Wimboh said yesterday, May 2.

    Two of Garuda's long-time commissioners, Tanjung and Dony Oskaria—both from PT Trans Airways, refused to sign the financial statements of 2018.  

    Both men said that the ledger's content violates the State Financial Accounting Standards No.23 for including accounts receivable in the revenue post.  

    Fajar Pebrianto

    Read: IDX Questions Garuda Indonesia Directors on Finance Report