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COVID-19: OJK extends annual shareholders meeting, financial report deadlines
The OJK will extend the deadline for annual financial report submission from March 30 to May 31, applied to all publicly listed companies and bourse members.
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The Financial Services Authority (OJK) logo at its headquarters in Jakarta. The OJK has extended the deadline for publicly listed companies to release their annual financial reports and hold annual shareholders meetings amid the novel coronavirus disease (COVID-19) spread in Indonesia. (kontan.co.id/File)
T
he Financial Services Authority (OJK) has extended the deadline for publicly listed companies to release their annual financial reports and hold annual shareholders meetings amid the novel coronavirus disease (COVID-19) spread in Indonesia.
The OJK’s statement circulated on Wednesday referred to the National Disaster Mitigation Agency’s (BNPB) declaration as a basis for the decision. The agency announced on Tuesday that the "particular state of disaster emergency" status due to the COVID-19 pandemic would be extended until May.
"The particular state of disaster emergency set by the government until May 29can affect the capital market industry players' ability to hold shareholders meetings as well as to prepare and submit financial statements and annual reports on time," the statement reads.
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Under such a condition, the OJK will extend the deadline for annual financial report submission from March 30 to May 31, applied to all publicly listed companies, the Indonesia Stock Exchange (IDX), the Indonesia Clearing and Guarantee Corporation (KPEI) and a slew of other bourse members. It will also extend the deadline for annual report submission from April 30 to June 30.
The OJK has also extended the deadline for the listed companies to hold annual shareholders meeting from June to Aug. 31 at the latest. It allows public companies to hold meetings through the electronic shareholders meeting e-RUPS system, which allows shareholders to avoid physical attendance.
President Joko “Jokowi” Widodo called on people on Sunday to practice social distancing to help contain the COVID-19 spread. Indonesia has recorded 227 confirmed cases and 19 deaths as of Wednesday.
The OJK on Tuesday told more than 70 percent of its employees to work from home to contain the coronavirus spread and limited working hours for those still required to go into the office. It also limited visitation services and advised customers to use online and phone channels if they needed the OJK's assistance.
