Day: August 19, 2024

PT Berkat Elektrik Sejati Tangguh (PT BEST), a company specializing in the sales, distribution and after-sales of household appliances, recently reported Ningbo AUX Imp&Exp Co Ltd (AUX), one of China’s top 500 enterprises, to the Business Competition Supervisory Commission (KPPU). Apparently, AUX has terminated its contract with PT BEST, who was previously the sole distributor of air conditioner products under the AUX brand in Indonesia. PT BEST suspects that there was a violation of the law in the contract termination process.

The problems for PT Waskita Beton Precast Tbk (WSBP) may get worse. Towards the end of 2023, the subsidiary of PT Waskita Karya (Persero) Tbk (WSKT) is being sued by one of its creditors, PT Bank DKI. At the heart of the dispute is the decision to settle debts through Mandatory Convertible Bonds (OWK) which was not approved by Bank DKI. In early 2024, Bank DKI withdrew this lawsuit, only to file a new lawsuit in a different district court. The parties tried to mediate but to no avail. The trial continued far from the media coverage.