OJK Speaks Out on Investment Dispute Involving Peter Sondakh's Listed Company (BWPT)
Jakarta — The Financial Services Authority (OJK) has spoken out regarding an investment dispute involving the palm oil issuer owned by Peter Sondakh, PT Eagle High Plantations Tbk (BWPT).
Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision at the OJK, said the authority has received explanations and clarification from the issuer. Hasan explained that the investment transaction in question was purely a share sale and purchase process between BWPT shareholders.
“Please understand that the transaction that occurred was purely a share sale and purchase process between shareholders of the company or the BWPT issuer in question. So it is not directly related to the issuer,” Hasan said at the Indonesia Stock Exchange building on Friday (28/8/2026).
During the process, one of the original shareholders agreed to sell to another party at the time, accompanied by a buyback option should the criteria in the purchase agreement not be met. According to Hasan, the breach of the sale and purchase agreement is already being processed, including before an arbitration body.
“This is actually a fairly long process. Each party has agreed to do this in the context of dispute resolution within an arbitration body,” Hasan concluded.
He assured that the OJK, together with the Indonesia Stock Exchange (BEI), will continue to ensure information disclosure from the issuer, even though the transaction was conducted between shareholders who originally held BWPT shares and then sold them to another party under bilaterally agreed terms and conditions.
“So it is not directly related to the issuer in question. Nevertheless, because this concerns the shares in question, from time to time the Exchange has also conveyed information disclosure regarding this matter through the official Exchange website,” Hasan said.
As previously reported, BWPT has provided a response and clarification regarding the investment dispute issue involving the Malaysian government agency, the Federal Land Development Authority (Felda).
The company said it has reviewed reports regarding BWPT share investments linked to Felda and FICP. However, based on the company’s share ownership administration, FICP is the party recorded as a BWPT shareholder.
In corporate relations and communication with shareholders, BWPT stated that it only deals with FICP in its capacity as a shareholder of the company. The company asserted that it has no corporate or contractual relationship with Felda regarding BWPT share ownership.
BWPT also stated that FICP is an independent legal entity that is different and separate from Felda. Therefore, the company said it is not in a position to confirm or provide explanations regarding information sourced from or related to Felda’s internal affairs.
The company also asserted that it has no obligation or exposure, either directly or indirectly, to Felda’s potential losses, which are reported to reach approximately 2.5 billion Malaysian ringgit or more than Rp10 trillion assuming an exchange rate of Rp4,300. Felda is not a BWPT shareholder and the company has no contractual relationship with Felda regarding the transaction in question.
“Felda is not a shareholder of the Company and the Company has no contractual relationship with Felda regarding the transaction in question. Therefore, the reported potential loss value is not an obligation or responsibility of the Company,” as quoted from the BEI information disclosure on Friday (28/8/2026).