OJK sanctions seven issuers and investigates unlicensed insurance brokers

The Indonesian Financial Services Authority (OJK) has announced sanctions against seven companies for violating capital market regulations. The sanctioned issuers include PT Asri Karya Lestari Tbk (ASLI), PT Adhi Karya (Persero) Tbk (ADHI), PT Adhi Commuter Properti Tbk (ADCP), PT Widodo Makmur Unggas Tbk (WMUU), PT Kalbe Farma Tbk (KLBF), PT Enseval Putera Megatrading Tbk (EPMT), and PT Limas Indonesia Makmur Tbk (LMAS).

PT Asri Karya Lestari Tbk was fined Rp 2.7 billion due to unreliable asset information and financial reporting discrepancies in its 2024 and 2025 reports. Additionally, three directors of the company and the public accountant responsible for the 2024 audit were issued individual fines.

Separately, the OJK has moved its investigation into four entities suspected of operating as insurance brokers without proper licensing into the formal investigation stage. The authority is also currently examining 15 other entities for similar suspected illegal brokerage practices. OJK has issued written warnings to insurance companies found to be collaborating with these unlicensed brokers.