Wed, 24 Jul 1996

Bapindo fined Rp 423m for delay

JAKARTA (JP): State-owned PT Bank Pembangunan Indonesia (Bapindo), was ordered to pay a fine of Rp 423 million (US$180,230) for a delay in filing its 1995 annual report with the Capital Market Supervisory Agency (Bapepam).

Bapindo's fine was the largest of those imposed on the 17 bond and share issuers which failed to submit their annual and semi- annual financial reports for their 1994 and 1995 operations.

Last year, Bapindo was also fined the most -- Rp 59.9 million -- of 12 companies which attracted Bapepam's wrath for a similar failure.

Bapepam said in a statement on Monday that the total fines payable by the 17 companies amounted to Rp 1.1 billion.

A Bapepam regulation requires listed companies to submit their annual financial reports to the agency within 120 days, at the latest, from the end of their book year.

Failure to submit the report within the set deadline carries a fine of Rp 1 million for each day of delay.

The other companies fined include PT Bank Uppindo (with a fine of Rp 319 million), followed by PT Textronic Permai Electronic (Rp 119 million), PT Telagamas Pertiwi (Rp 57 million), PT Concord Benefit (Rp 49 million), PT Multi Sarana (Rp 48 billion), PT Pan Brothers Tex (Rp 41 million), PT Praxair Indonesia (Rp 14 million) and PT Sarasa Nugraha (Rp 10 million).

The other companies were fined less than Rp 10 million -- PT Multipolar (Rp 9 million), PT HM Sampoerna (Rp 8 million), PT Zebra Nusantara (Rp 6 million), PT Sekar Laut (Rp 2 million), PT Sekar Bumi (Rp 2 million), PT Pusako Tarinka (Rp 1 million), PT Bank PDFCI (Rp 1 million) and PT Bakrie & Brothers (Rp 1 million). (alo)