Trusty Cars Pte Ltd, a Singaporean company engaged in the automotive sector in Southeast Asia, acquired PT Mitra Pinasthika Mustika Rent (MPMRent) in 2022. In relation to the corporate actions, the Business Competition Supervisory Commission (KPPU) mentioned that the combined asset value of the two parties as a result of this transaction has exceeded the minimum limit for notification obligations to the KPPU. However, the required notification was only submitted beyond the time limit required by law. The KPPU examined the allegation towards the end of last year and recently Trusty Cars have been found guilty. To subscribe please click here
