OJK Fined DSSA, BREN, and CUAN a Total of IDR 2.1 tn for Alleged Market Manipulation

OJK Fined Dian Swastatika Sentosa (DSSA), Barito Renewables Energy (BREN), and Petrindo Jaya Kreasi (CUAN) a Total of IDR2.1 tn for Alleged Market Manipulation
Indonesia’s Financial Services Authority (OJK) imposed administrative fines totaling IDR 2.1 tn on parties involved in alleged violations related to share trading and public offerings of DSSA, BREN, CUAN. The fines amounted to IDR 1.5 tn for DSSA, IDR 500 bn for BREN, and IDR 100 bn for CUAN, following findings of planned and structured market manipulation and concealment of share order identities. The sanctions targeted traders, underwriters, parties involved in fixed allotments, and the issuers’ ultimate beneficial owners (UBOs) found to have violated capital market regulations. (CNN Indonesia)

OJK Found Potential Capital Market Criminal Violations in 31 High Shareholding Concentration Stocks
Indonesia’s Financial Services Authority (OJK) identified potential criminal violations in 31 of the 61 issuers included in its High Shareholding Concentration (HSC) list as of end-Sep-26, following preliminary examinations. OJK also imposed administrative fines totaling IDR 2.1 tn related to coordinated trading involving DSSA, BREN, and CUAN, targeting traders, underwriters, fixed-allotment
parties, and ultimate beneficial owners (UBOs) found to have violated capital market regulations, rather than the issuers themselves. Separately, OJK reported enforcement actions against 835 parties from Jan-26 to Oct-26, with total sanctions exceeding IDR 390 bn. The National Police will deploy its Criminal Investigation Agency (Bareskrim) to investigate reported suspected capital market violations and take further action based on collected evidence. (Emitennews)

Bank Mandiri (BMRI) Clarified Jhonlin Baratama’s Loan Was Not Intended for Stock Trading
BMRI stated that its credit facility to Jhonlin Baratama was provided to support capital expenditure and financing needs for its coal business group and related sectors, rather than stock trading activities. In a response to the Indonesia Stock Exchange (IDX) dated 16 Oct-26, BMRI said the credit assessment followed OJK prudential requirements, considering business prospects, financial
performance, repayment capacity, and collateral adequacy across short-, medium-, and long-term periods. The loan is secured by fixed and non-fixed assets, corporate accounts, and shares, including affiliated JARR and PGUN shares, in accordance with OJK Regulation No. 40/POJK.03/2017 and BMRI’s internal policies. (Emitennews)

Indo Tambangraya Megah (ITMG) Established New Mineral Investment Subsidiary
ITMG and its subsidiary, ITM Batubara Utama (IBU), established a new co., ITM Mineral Investama (IMI), on 13 Oct-26 to support the integrated expansion of ITMG’s mineral business portfolio. The establishment constitutes an affiliated transaction, with IBU being a controlled subsidiary in which ITMG owns at least 99% of the paid-up capital. The transaction does not require shareholder approval as its value falls below the applicable threshold for material transactions and involves the co. and its controlled subsidiary.(Emitennews)