DSSA Writes to OJK, Says It Respects Sanction and Will Co-operate
Dian Swastatika Sentosa (DSSA) has formally sent a written response to the Financial Services Authority (OJK) following media reports about sanctions imposed by the regulator over trading in the company’s shares.
The response was set out in letter No. 179/CSDSS-10/2026, dated 19 October 2026, and addressed to the OJK Chief Executive for Capital Markets, Derivatives and Carbon Exchange Supervision. The letter was signed by two company directors, Hermawan Tarjono and Alex Sutanto.
In the letter, the management referred to media reports published on 16 October 2026 about the OJK sanctions related to DSSA share trading. The company said it respected the regulator’s authority and decisions in strengthening the integrity and transparency of Indonesia’s capital market and maintaining confidence in it.
“[The] company fully supports government policies and the supervisory measures taken by the relevant authorities to maintain financial system stability and create a healthy and sustainable investment climate,” DSSA management wrote in the letter, cited on Monday (19 October 2026).
Management added that the company understood that every regulatory decision was based on considerations intended to protect investors’ interests and maintain public confidence. DSSA therefore pledged to co-operate, respect the applicable process and follow up on the decision in accordance with the law.
The company also said it consistently prioritised good corporate governance, regulatory compliance and transparency in its business activities. DSSA said it would continue to co-ordinate with the relevant authorities and disclose any material developments through the required information-disclosure mechanisms.
Rp1.5 trillion fine and buyback plan
The OJK had previously imposed a Rp1.5 trillion fine on DSSA. In response, the company said in a disclosure to the Indonesia Stock Exchange (IDX) that the penalty currently had no material impact on its financial condition or operations.
DSSA also plans to buy back shares worth up to Rp1 trillion. The move comes amid significant market volatility and is intended to increase shareholder value, help the share price reflect the company’s fundamentals and maintain public confidence.
The buyback will run for up to three months, from 19 October 2026 to 18 January 2027. It may end sooner if the allocated funds are exhausted or the targeted number of shares has been reached.
Shares may be repurchased in a single transaction or in stages, either through trading on the IDX or off-market. Related costs, including transaction and broker fees, are estimated at 0.20% of the value of the shares repurchased.
The buyback will be funded from the company’s internal cash. Management believes the corporate action will not adversely affect the company’s performance, revenue or financing, as DSSA has sufficient cash flow and working capital to fund its business, capital expenditure and the buyback.
The company also expects the buyback to increase earnings per share. The treasury shares acquired are expected to give DSSA greater flexibility in managing its long-term capital requirements.