Manipulation of PT Hanson's Managing Director's Financial Statements Resulting in Fines of Rp. 5 Billion
The Financial Services Authority (OJK) imposes a financial penalty on the President Director of PT Hanson Internasional Tbk (MYRX) Benny Tjokro in the amount of Rp. 5 billion. That was related to the manipulation of the company's financial statements since 2016.
Deputy Commissioner for Capital Market Supervisor I, Djustini Septiana, revealed that the violations committed by the company were related to Financial Accounting Standards 44 concerning Accounting for Real Estate Activities (PSAK 44) in the sale of Ready to Build Plots (Kasiba) worth Rp 732 billion.
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Djustini continued, PT Hanson International is known not to disclose the binding sale and purchase agreement for the Ready Build in Serpong Kencana Housing dated July 14, 2016 (PPJB July 14, 2016) regarding the sale of Kasiba in the 2016 Financial Statements.
Based on this action, OJK stated that the Managing Director of PT Hanson Internasional violated Article 107 of Law Number 8 of 1995 concerning the Capital Market (UUPM).
"Mr.
Benny Tjokrosaputro, as the President Director of PT Hanson Internasional Tbk,
is proven to have violated Article 107 of the Capital Market Law and is
responsible for the misrepresentation of PT Hanson International Tbk's Annual
Financial Statements as of December 31, 2016," Djustini said in an
official statement from the OJK
Not only the President Director, the FSA also set the company
PT Hanson International to violate. Because, PT Hanson International Tbk did
not disclose the binding sale and purchase agreement of lots ready to build.
"Administrative sanctions in the form of a fine of Rp 500 million and a
written order to make improvements and restatement of the LKT "PT Hanson
International Tbk as of December 31, 2016 is at the latest 14 (fourteen) days
after the stipulation of the sanction letter," he added. In addition,
Djustini revealed, there were three other people in the company who were also
subjected to sanctions. Namely, Adnan Tabrani as Director and Sherly Jokom from
the Public Accounting Firm Purwantono, Sungkoro and Surja (members of Ernst and
Young Global Limited) who conducted an audit of PT Hanson International's LKT.
"Mr. Adnan Tabrani is subject to administrative sanctions in the form of a
fine of Rp. 100 million, Mr. Sherly Jokom as a Public Accountant registered
with OJK is subject to administrative sanctions in the form of STTD Suspension
for 1 (one) year after the stipulation of the sanction letter," he
explained. Fines Are Paid, Then Resign Questioning the PT Hanson International
case, Deputy Capital Market Supervisory II OJK Fakhri Hilmi said, the fine from
the person concerned had been paid. "They have already paid the fine. Pak
Benny has already paid, PT Hanson has already paid, the director has already
paid, his colleagues have already paid," Fakhri said when confirmed at the
IDX Building, Jakarta, Friday (9/8). Fakhri added, his party had just received
a statement of resignation from them. It also agreed. "Restatement finally
they submitted a resignation, we agree, no later than August 31 we have
received a new restatement from them,"
RESPONSE:
In my opinion, Mr. Benny Tjokrosaputro, as the President
Director of PT Hanson Internasional Tbk, is proven to have violated Article 107
of the Capital Market Law and is responsible for the misrepresentation of PT
Hanson International's Annual Financial Statements (LKT). they should get the
punishment they deserve and have to pay a fine according to what they did, they
also have to take rest from the company. and there should be no more companies
willing to accept them if they want to apply for a job anywhere