ICC Slaps Gojek with Rp3.3bn Fine for being Late to Inform Loket.com Acquisition
25 March 2021 21:04 WIB
TEMPO.CO, Jakarta - The Indonesian Competition Commission (ICC) fined Gojek developer PT Aplikasi Karya Anak Bangsa Rp3.3 billion for being late in informing the ICC about acquiring the shares of PT Global Loket Sejahtera or Loket.com.
The ICC ordered Gojek to pay the fine in no less than 30 days after the KPPU's decision has permanent legal force (inkracht).
The ICC Council stated that Gojek had violated Article 29 of Law 5/1999 on the Prohibition of Monopolistic Practices and Unfair Business Competition, and Article 5 of Government Regulation No.57/2010, which governs the merging or consolidation of business entities and shares takeover that may lead to monopolistic practices and unfair business competition.
On the ICC's official website, it is said that Gojek acquired most of PT Global Loket Sejahtera shares—the company that owns the Loket.com brand—on August 4, 2017. Five days later on August 9, 2017, the ICC began investigating allegations that Gojek failed to report the acquisition on time.
The ICC said that companies are required to notify shares purchases by no later than 30 days after the transaction.
Gojek should have notified the ICC about the acquisition before September 22, 2017, but did not do so until February 22, 2019, or 347 days late.