Minna Padi Customers Ask For Compensation In The Form Of Cash

JAKARTA - PT Minna Padi Asset Management (MPAM) in refunding customer funds, offers two schemes and has been agreed. First, the in-cash scheme or cash funds, and second, the in-kind scheme or returns in the form of stock securities. However, customers want to be paid in full cash.

MPAM Jackson's investor representative said the customer demanded that the refund be made in cash or in cash. MPAM's own customers are more than 4,000 people.

"Yes (cash). Because 100 percent of what we are offered there is a deposit. If we enter money, it is expected that the money will be returned," he said, when met at the Hotel Borobudur, Jakarta, Friday, June 11.

Jackson said that the customer demanded Minna Padi to be responsible for paying her investment funds as promised starting with the dissolution of the net asset value (NBA). However, since OJK was dissolved at the end of 2019, the company has no intention of paying according to its promise.

"Minna Padi must be responsible according to the agreement with the customer. If not with the principal but according to the agreement for 6 months, 1 year how much. (But) from the start it was not stated how much," he said.

Jackson said the customers demanded that MPAM be held fully responsible for any losses incurred as a result of its failure. This includes asking the company's directors and commissioners to be personally responsible for their negligence in supervising PMAM.

"If they violate the law, as stated in the disbandment letter, they must be fully responsible for everything. Even to their personal assets, be it the board of commissioners, the board of directors and others," he said.

For your information, MPAM made the first payment of investor funds in March 2020, worth Rp. 1.6 trillion out of a large total loss of Rp. 4.8 trillion from the six mutual funds that OJK dissolved.

"It's been almost two years, but until now the clarity of the refund of MPAM Victims' savings funds is still unclear," he said.

On the same occasion, Capital Market Observer Hasan Zein Mahmud said Minna Padi must have the courage to appear to solve this problem. Because, he said, this is related to business ethics.

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"An appeal to Minna Padi, if you have ethics, come up with it. You can't buy honor, you have to earn it with your behavior. If they have rules, ethics, come," he said.

According to Hasan, default is a common thing in business. Every day there are companies that default, but failing because of violations is something extraordinary. Therefore, Hasan said, Minna Padi must sit down with her customers to resolve this case.

"Sacrifice all personal wealth. Abroad, a company goes bankrupt, the owner goes bankrupt. In Indonesia the company goes bankrupt, the owner gets richer. That's a complete lack of business ethics. he said.

As is known, based on OJK's order to MPAM with letter number S-1422/PM.21/2019 dated November 21, 2019 to disband six mutual funds managed by MPAM.

This dissolution was caused because OJK found various violations of OJK laws and regulations committed by MPAM including the main management party, namely the board of directors and commissioners, as well as by the main controlling party, namely the controlling shareholder.

The six mutual funds are Amanah Saham Syariah, Hastinapura Saham, Pringgodani Saham, Pasopati Saham, Properti Plus Saham and Keraton II.