SP 32/GKPB/OJK/II/2026
PRESS RELEASE
OJK IMPOSES FIRM SANCTION ON CAPITAL MARKET VIOLATION BY PT REPOWER ASIA INDONESIA TBK, PT MULTI MAKMUR LEMINDO TBK, ET AL.
Jakarta, 7 February 2026. Indonesia Financial Services Authority (OJK) imposed administrative sanctions and/or Written Orders to PT Repower Asia Indonesia Tbk, PT Multi Makmur Lemindo Tbk, and related parties upon their capital market violations.
The sanction was imposed on 6 February 2026 in accordance with OJK's audit result as a part of law enforcement for integrity enforcement and Indonesia Capital Market's credibility.
PT Repower Asia Indonesia Tbk
Based on the audit results, OJK imposed the following administrative sanctions and/or Written Order:
- On Material Transactions carried out by PT Repower Asia Indonesia Tbk using the profit from Initial Public Offering (IPO), Indonesia Financial Services Authority imposed the following sanctions to the parties involved:
1. Administrative Sanction of Penalty Fee to PT Repower Asia Indonesia, amounting to Rp925,000,000.00 (nine hundred twenty-five million rupiah) for land purchase in Tangerang between PT Repower Asia Indonesia Tbk and Mr. M. Andy Arslan Djunaid on 16 February 2024, valuing more than 20 percent of PT Repower Asia Indonesia Tbk's equity on 31 December 2023, as one of the financial planning in the Initial Public Offering Prospectus of PT Repower Asia Indonesia Tbk, where PT Repower Asia Indonesia Tbk does not carry out Material Transaction, violating Article 6 item (1) alphabet a, alphabet b, alphabet c, alphabet e, and item (3) alphabet a jo. Article 13 item (1) and the Explanation of Article 13 item (1) of Indonesia Financial Services Authority Regulation (POJK) Number 17/POJK.04/2020 on Material Transaction and Business Activity Changes.
2. Administrative Sanction of Penalty Fee amounting to Rp240,000,000.00 (two hundred forty million rupiah) imposed to Mr. Aulia Firdaus as the President Director of PT Repower Asia Indonesia Tbk of 2024 tenure, for violating Article 12 item (1) and item (3) of POJK Number 33/POJK.04/2014 on Board of Directors and Board of Commissioners of Issuer or Public Company, as Mr. Aulia Firdaus failed to carry out the managerial duties and responsibilities of PT Repower Asia Indonesia Tbk, and POJK Number 17/POJK.04/2020 on Material Transaction and Business Activity Changes.
On the Initial Public Offering of PT Repower Asia Indonesia Tbk, OJK also imposed the following administrative sanctions and/or Written Order:
Administrative Sanction of Penalty Fee to PT UOB Kay Hian Sekuritas, amounting to Rp250,000,000.00 (two hundred fifty million rupiah), Administrative Sanction of Freezing of Business License to PT UOB Kay Hian Sekuritas as Securities Emission Guarantor for 1 (one) year after the issuance of the letter of sanction, and Written Order to update the securities account opening form of UOB Kay Hian Pte. Ltd. Year 2001 in accordance with POJK Number 12/POJK.01/2017 on Anti-Money Laundering and Counter-Terrorism Financing in the Financial Services Sector amended by POJK Number 23/POJK.01/2019, within 10 working days as of the issuance of the sanction letter. All Securities Emission Guaranteeing activities prior to the date of the sanction letter will be allowed to be carried out. PT UOB Kay Hian Sekuritas was imposed with these administrative sanctions and Written Order due to violations against:
Article 15 alphabet a and alphabet b jo. Article 28 item (5) of POJK Number 12/POJK.01/2017 due to PT UOB Kay Hian Sekuritas' inability to fulfil the Customer Due Dilligence (CDD) procedures upon UOB Kay Hian Pte. Ltd., that represents 8 (eight) investors/client referral customers as Beneficial Owner: Mr. Adhitya Iqbal Lazuardi, Mr. Fahmi El Haq, Mr. Faiz Fikry, Sdr. Faris Elhaq Sukrisman, Mr. Muhamad Abdul Ghofur, Mr. Muhammad Arum Sulistyo, Mr. Satria Utama, and Mr. Zulkarnain, who will receive fixed portion during the Initial Public Offering of PT Repower Asia Indonesia Tbk. UOB Kay Hian Pte. Ltd. Has Capital Market Services License dari Monetary Authority of Singapore. Based on the letter from UOB Kay Hian Pte. Ltd. addressed to PT UOB Kay Hian Sekuritas, it was discovered that the 8 (eight) parties were funded by UOB Kay Hian Credit Pte. Ltd. Based on the PT Bank UOB Indonesia bank account opening form in October 2019, it was discovered that the eight investors/client referral customers filled “PT Repower Asia Indonesia Tbk. staff" in their occupations. PT UOB Kay Hian Sekuritas ought to know that the information in which the customers UOB Kay Hian Pte Ltd ticked 'No' in the form was untrue. UOB Kay Hian Pte Ltd should have ticked “Yes" in the form.
Item 2 alphabet b point 1) and point 2) of Capital Market and Financial Institutions Supervisory Agency Regulation Number IX.A.7 on Order and Portioning of Securities in Public Offering, due to using false information from UOB Kay Hian Pte. Ltd. for fixed portioning in PT Repower Asia Indonesia Tbk's Initial Public Offering.
Administrative Sanction of Penalty Fee amounting to Rp30,000,000.00 (thirty million rupiah) imposed to Mrs. Yacinta Fabiana Tjang as the Director of PT UOB Kay Hian Sekuritas of December 2018-February 2020 tenure, and Written Order that prohibits activities in the Capital Market for 3 (three) years as of the issuance of the sanction letter, for violating Article 12 item (1) and item (3) of POJK Number 57/POJK.04/2017 on Governance Implementation of Securities Company Engaging As Securities Emission Guarantor and Securities Trading Broker by neglecting Securities Company management, which consequently leads to PT UOB Kay Hian Sekuritas' violation against Article 15 alphabet a and alphabet b jo. Article 28 item (5) POJK Number 12/POJK.01/2017 Item 2 alphabet b point 1) and point 2) of Capital Market and Financial Institutions Supervisory Agency Regulation Number IX.A.7 on Order and Portioning of Securities in Public Offering, using false information from UOB Kay Hian Pte. Ltd. for fixed portioning in PT Repower Asia Indonesia Tbk's Initial Public Offering.
PT Multi Makmur Lemindo Tbk
OJK imposed the following administrative sanctions and/or Written Order based on OJK's inspection on the Annual Financial Report as of 31 December 2023 submission from PT Multi Makmur Lemindo Tbk:
Administrative Sanction of Penalty Fee to PT Multi Makmur Lemindo Tbk, amounting to Rp1,850,000,000.00 (one billion eight hundred fifty million rupiah) due to claiming and using assets from IPO profit funds from the 2023 fiscal year of PT Multi Makmur Lemindo Tbk without adequate transaction records, thereby violation Article 69 item (1) Law Number 8 of 1995 on Capital Market junctis alphabet A item 1 point n, alphabet A item 3, and alphabet A item 4 of Regulation Number VIII.G.7 on Presentation and Disclosure of Financial Report of Issuers and Public Companies; paragraph 2.4, paragraph 2.31, paragraph 4.1, paragraph 4.3, and paragraph 4.4 of Conceptual Framework of Financial Reporting; paragraph 28 of Statements of Indonesian Financial Accounting Standards (PSAK) 1 on Financial Report Presentation, paragraph 6 PSAK 14 on Availability, and paragraph 7 PSAK 16 on Fixed Assets.
Administrative Sanction of Penalty Fee to Mr. Junaedi, Mr. Imanuel Kevin Mayola, Mr. Hendri Saputra, and Mr. Airlangga as Board of Directors of PT Multi Makmur Lemindo Tbk 2023 tenure, amounting to Rp3,360,000,000.00 (three billion three hundred sixty million rupiah) jointly and severally for violating Article 2 jo. Article 5 of POJK Number 75/POJK.04/2017 on the Responsibility of Board of Directors on Financial Report (POJK Number 75/POJK.04/2017), upon their responsibility on the false information presented in the 2023 Annual Financial Report of PT Multi Makmur Lemindo Tbk.
Written Order for Mr. Junaedi as the President Director of PT Multi Makmur Lemindo Tbk in the 2023 tenure, prohibiting activities in the Capital Market sector for 5 (five) years for violating Article 2 POJK Number 75/POJK.04/2017, due to negligence in the 2023 Annual Financial Report of PT Multi Makmur Lemindo Tbk.
Administrative Sanction of Freezing of Registered Certificate (STTD) for 2 (two) years as of the issuance of sanction letter to Mr. Agung Dwi Pramono from Public Accounting Office Andi Ruswandi Wisnu dan Rekan during the violation period, as a partner of PAO Budiandru dan Rekan with STTD Number: 24/PM.223/2021 dated 23 August 2021, as the auditor who audited PT Multi Makmur Lemindo Tbk's 2023 Annual Financial report, based on the violations against Article 66 item (1) of the Capital Market Law amended by Law Number 4 of 2023 on the Development and Strengthening of the Financial sector (P2SK Law) jo. Article 21 alphabet c, alphabet d, alphabet e POJK Number 9 of 2023 on the Uses of Public Accountant and Public Accounting Office Services in Financial Services Activities junctis Audit Standards (SA) 200 on General Objectives of Independent Auditor and Audit Practices Based on Audit Standards, SA 230 on Audit Documentations, SA 265 on Communicating Deficiency in Internal Control to Parties In Charge of Governance and Management, SA 330 on Auditor's Response to the Assessed Risks, SA 500 SPAP on Audit Evidence, SA 501 on Audit Evidence – Specific Consideration on Selected Elements, SA 530 on Audit Sampling, SA 580 Written Representation, and SA 701 on Communicating Key Audit Matters in Independent Auditor Report due to Mr. Agung Dwi Pramono's inability to implement public accountant professional standards in providing audit services to PT Multi Makmur Lemindo Tbk's 2023 Annual Financial Report.
Administrative sanctions and/or Written Order to PT Repower Asia Indonesia Tbk and PT Multi Makmur Lemindo Tbk and related parties are OJK's firm measure in law enforcement toward violations to preserve the public credibility of Indonesia Capital Market industry.
In the future, OJK will firmly enforce law and take actions that deters crime perpetrator in the Capital Market sector for efficient, fair, integrous, and orderly Indonesia Capital Market.
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For more information
Head of the Literacy, Financial Inclusion and Communication Department – M. Ismail Riyadi;
Tel. (021) 29600000; E-mail: humas@ojk.go.id
