Thursday September 26 2024

News Source: Global Disclosures

Focus: Major Shareholdings

Type: General

Country: Indonesia




On 28th February 2024, the Financial Services Authority (Otoritas Jasa Keuangan, ‘OJK’) introduced regulation Number 4 of 2024 (POJK.4/2024), which will replace Regulation Number 11/POJK.04/2017 concerning the reporting of ownership or any changes in share ownership of a public company. These changes should be aligned with international standards or based on the findings of comparative studies in other countries.

Key updates in the new regulation includes:

  • Changing the reporting focus from the total number of shares held to the total number of voting rights held by shareholders.
  • Requiring shareholders to report share pledging activities in line with international standards.
  • Shortening the reporting period and switching to percentage unit reporting instead of the previous 0.5% share movement threshold.

This Financial Services Authority Regulation comes into effect 6 (six) months from the date of promulgation.