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Business competition watchdog fines Gojek Rp 3.3 billion for late acquisition report
Indonesia's business competition watchdog has slapped a hefty fine on the homegrown decacorn for being nearly a year late in reporting its 2017 acquisition of Loket.com.
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The iconic green helmet bearing the Gojek logo is seen perched on a motorcycle saddle behind a Gojek driver in this undated photograph. (Shutterstock.com/findracadabra )
T
he Business Competition Supervisory Commission (KPPU) slapped Southeast Asia's second largest ride-hailing company Gojek with a Rp 3.3 billion (US$228,639) fine on Thursday, March 25, for failing to file a business acquisition report on time.
KPPU spokesperson Deswin Nur said in a press statement that PT Aplikasi Karya Anak Bangsa (Gojek) had submitted an overdue notice on Feb. 22, 2019 regarding its business acquisition report for online booking company Loket.com, which it had bought in 2017.
“[The fine] has to be paid to the state 30 days at the latest from the date that the KPPU’s ruling becomes final and binding,” Deswin said in the statement.
The KPPU noted that Gojek completed the legal acquisition of PT Global Loket Sejahtera (Loket.com) on Aug. 9, 2017. Under the existing regulations, Gojek was obligated to submit its business acquisition report within 30 days of the deal, or Sept. 22, 2017.
In light of the overdue notice Gojek submitted on Feb. 22, 2019, the KPPU had determined that the superapp had overshot the reporting deadline by 347 days.
The commission also ruled that the homegrown decacorn had violated Article 29 of Law No. 5/1999 on monopolies and unfair business competition as well as Article 5 of Government Regulation No. 57/2010 on potentially monopolistic and unfair business mergers and acquisitions.
Read also: Gojek, Grab merger could spell start of antitrust investigation
