Day: September 23, 2024

Healthcare service provider, PT Bundamedik Tbk (Bundamedik Healthcare System – BMHS), kicked off its initial public offering in June 2021. Everything looks promising, but there are corporate actions that need to be explained further, that the company and its subsidiaries must face the Business Competition Supervisory Commission (KPPU). Last week, Bundamedik was found guilty of being late in notifying the takeover of PT Pintu Ilmu shares. Another examination is still ongoing.

Back in 2019, the Business Competition Supervisory Commission (KPPU) examined allegations on cartel-like practices related to soaring ticket rates and cargo transportation in the national aviation industry. The KPPU read its decision in 2020 amid the pandemic and declared the reported parties guilty, albeit not of cartel-like practices. In May 2024, the KPPU summoned the parties to ensure their compliance with the implementation of the decision, especially because similar situations, namely high domestic flight ticket prices, still occur. Towards the end of last week, KPPU announced that among the airlines examined along the process, only Lion Group wouldn’t comply with the decision of the Supreme Court. KPPU, therefore, took the initiative to commence an investigation on the group.