Day: August 21, 2024

‘Market value’ of Pollux Properties (POLL) had previously matched the Ciputra Group and various other property companies, something that was hard to believe. However, that glory did not last long. Since 2020, the Group and its subsidiaries often face legal problems. Until 2020 alone, there were at least nine lawsuits filed related to two subsidiaries, including PT Pollux Aditama Kencana (PT PAK). Since 2021 until now, there have been at least 20 lawsuits related to PT PAK.

PT Morula Indonesia (Morula IVF), a subsidiary of PT Bundamedik Tbk (Bundamedik Healthcare System – BMHS), took a corporate action in 2022 by acquiring a majority shares in PT Medika Sejahtera Bersama (PT MSB), a company that manages the Pusura Mother and Child Hospital (RSIA Pusura) in Tegalsari, Surabaya. Referring to the provisions of the existing law, Morula IVF is obliged to report or provide notification of this corporate action to the Business Competition Supervisory Commission (KPPU) within a certain time limit. Unfortunately, the notification was made past the time limit. Morula IVF was then examined on suspicion of committing a violation. At the beginning of this week, interestingly, Morula IVF admitted to having committed a violation.