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KPPU 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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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 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
The business competition watchdog had previously slapped a Rp 30 billion fine on Grab and a Rp 19 billion fine on its car rental partner PT Teknologi Pengangkutan Indonesia (TPI) for discrimination against Grab’s driver partners. The KPPU had ruled that Southeast Asia's largest ride-hailing company had given preferential treatment to TPI drivers.
Read also: Business watchdog fines Grab Rp30b for unfair business practices
Audrey Petriny, Gojek vice president of corporate communications, said the company was waiting for an official copy of the KPPU ruling, and added that it would comply with the commission’s ruling.
“We have been following up on the process thoroughly with KPPU regarding the overdue notice as part of [our] administrative process in acquiring shares in PT Global Loket Sejahtera,” said Audrey. “Gojek is committed to obeying all rules and regulations in Indonesia.”
Gojek, which has an estimated value of $10 billion, acquired Loket.com for an undisclosed amount in 2017 to expand its ticketing service, Go-Tix.
According to Loket.com, the online ticketing platform sold more than 1.7 million tickets and saw more than 1 million new users attending around 10,000 online events in 2020, despite the COVID-19 health crisis.
