Belvin Tannadi Responds to BAPA Shareholding Inquiry

Jakarta, CNBC Indonesia - Investor and stock influencer Belvin Tannadi has spoken out regarding his shareholding in property company Bekasi Asri Pemula (BAPA), which exceeds 5%. Belvin admitted the purchase of BAPA shares was for investment purposes, holding 48,554,600 shares, or 7.337% of the total registered shares. He stated all share transactions occurred on the regular market, where investor interactions are not face-to-face but through an integrated electronic exchange system. He also denied having any nominee securities accounts, asserting all transactions were under his personal name.

Regarding the failure to submit a Shareholding Report (LKS) as per Financial Services Authority (OJK) Circular No. 10/SEOJK.04/2025, Belvin claimed ignorance. ‘I was unaware that my ownership had exceeded 5%,’ Belvin stated, citing transparency disclosures. Belvin also denied that his shareholding in BAPA involves PT Adicipta Griya Sejati (AGS) and PT Inti Fikasa Sekuritas (BF). Regarding the funding source for the BAPA share transactions, Belvin stated the capital came from previous investment profits.

OJK Penalty Unpaid

Meanwhile, the exchange authorities have also questioned Belvin regarding the Rp 535 million penalty imposed by the Financial Services Authority (OJK). Belvin admitted he has not yet paid the OJK penalty. ‘I do not accept this penalty not because I refuse to pay, but because I believe it is legally invalid,’ Belvin said. He stated he has followed all available legal procedures in sequence, including filing objections with the OJK, suing at the Jakarta Administrative Court (PTUN), and, under court direction, is currently undergoing an Administrative Appeal process to the President of the Republic of Indonesia under Article 76(2) of the Administrative Law. ‘While this legitimate legal process is ongoing, I maintain, supported by strong legal grounds, that paying a penalty whose validity is being challenged is not an obligation that can be enforced,’ Belvin added.