OJK Probes BREN, CUAN and DSSA Shares After Finding Violations

Jakarta — The Financial Services Authority (OJK) will trace fund flows involving three shares belonging to two conglomerates: PT Barito Renewable Energy Tbk (BREN) and PT Petrindo Jaya Kreasi Tbk (CUAN), owned by Prajogo Pangestu, and PT Dian Swastatika Sentosa Tbk (DSSA), owned by Franky Oesman Widjaja.

OJK Board of Commissioners Chair Friderica Widyasari Dewi said that its examination had found shares offered to the public had been allocated to groups connected with the controlling shareholders.

“OJK is tracing fund flows related to BREN and CUAN,” she said at a press conference at the Indonesia Stock Exchange building on Friday (16 October 2026).

As part of the process, OJK has summoned related parties, including at least five directors.

OJK also found evidence of misleading conduct in CUAN share orders. The orders resulted in a very large share allocation to certain parties whose identities had been obscured. This left the number of shares available to the public, or the free float, limited.

The administrative fines imposed by OJK include Rp200 billion for DSSA, Rp500 billion for BREN, equivalent to US$27.8 million, and Rp100 billion for CUAN.