OJK freeze two business venture capital company

IQPlus - Financial Services Authority ( OJK ) suspended operations two Venture Capital Company ( PMV ) . The two companies namely PT Altus Indonesia and PT Dian Bhuana Sejahtera Venture .

In an official statement issued Wednesday evening FSA , stated that the two companies were suspended business activities are located in Jakarta . Known , Indonesia with PT Altus beromor S-15A/NB.2/2014 letter dated January 27, 2014 , while PT Dian Bhuana Sejahtera Venture S-15B/NB.2/2014 numbered letter dated January 27, 2014 .

OJK suspended business activities reason is because it does not meet the second PMV provisions of Article 42 paragraph ( 2 ) letter b of Regulation of the Minister of Finance No. 18/PMK.010/2012 about Venture Capital Company .

By freezing the issuance of business by OJK , then both PMV was prohibited from engaging in business activities . Except , for the fulfillment of the provisions of Article 38 paragraph ( 1 ) of the Regulation of the Minister of Finance No. 18/PMK.010/2012 .

As per Regulation No. minister . 18/PMK.010/2012 , both PMV shall submit annual financial statements audited public accountant to the Minister of Finance no later than four months after the fiscal year ends .