Business · Markets · 2 hrs ago
Indonesia’s OJK Fines Three Listed Companies Rp2.1 Trillion
Indonesia’s financial regulator, the OJK, announced Rp2.1 trillion in fines for three listed companies on Friday.
DSSA, linked to Sinar Mas Group, was fined Rp1.5 trillion over alleged stock trading violations between 2023 and 2026.
The OJK said individuals and institutions used several brokerage firms in planned, coordinated activity that drove DSSA’s share price up sharply.
BREN and CUAN were each fined over their initial share offerings, with penalties of Rp500 billion and Rp100 billion.
The regulator said shares in both offerings had been intended for groups connected to their controlling shareholders, and it is tracing related funds and examining possible violations.
The OJK has questioned people and firms involved and is continuing its investigations, including into share trading and the offerings.
Indonesia’s Financial Services Authority (OJK) fined three listed companies a total of Rp2.1 trillion.
Dian Swastatika Sentosa (DSSA) was fined Rp1.5 trillion over alleged stock-trading violations.
Barito Renewables Energy (BREN) was fined Rp500 billion, and Petrindo Jaya Kreasi (CUAN) Rp100 billion, over alleged violations related to their public share offerings.
OJK said shares offered by BREN and CUAN had been planned for groups linked to their controlling shareholders.
The regulator said it was also investigating suspected market manipulation and tracing funds linked to the cases.
- Who
- OJK fined Dian Swastatika Sentosa (DSSA), Barito Renewables Energy (BREN) and Petrindo Jaya Kreasi (CUAN.
- What
- The regulator imposed fines totalling Rp2.1 trillion over alleged market-trading and share-offering violations.
- When
- 16 October 2026.
- Where
- Indonesia. The announcements were made at a news conference at the Indonesia Stock Exchange in Jakarta.
- Why
- OJK said it found suspected market manipulation involving DSSA shares and alleged violations in the public offerings of BREN and CUAN.
This story does not have two clearly opposing sides.
OJK examined DSSA trading during this period and said it found planned and structured market manipulation.
OJK announced fines against DSSA, BREN and CUAN.
OJK said it had sought records and traced funds related to the BREN and CUAN share offerings.
- DSSA fine
- Rp1.5 trillion
- BREN fine
- Rp500 billion
- CUAN fine
- Rp100 billion
- Total fines
- Rp2.1 trillion
- DSSA examination period
- 2023–2026
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What people are saying
This is not only starting now. There are 835 parties that OJK has sanctioned, with total sanctions of more than Rp390 billion.
OJK found that the shares offered in the BREN and CUAN IPOs had been planned from the outset and allocated to a group of parties linked to the controlling shareholder.
OJK has requested data and documents from four securities-underwriting exchange members and three custodian banks, and has also traced the flow of funds from parties linked to the BREN and CUAN public offerings.