OJK Will Supervise The Movement Of CUAN Shares In The Future

Chief Executive of Capital Market Supervisory, Derivative Finance, and OJK Carbon Exchange Inarno Djajadi. (Photo: YouTube screenshot)

JAKARTA - Chief Executive of the Capital Market Supervisory, Derivative Finance, and OJK Carbon Exchange Inarno Djajadi explained that currently the Indonesia Stock Exchange (IDX) is examining the transaction of the issuer owned by Prajogo Pangestu, namely PT Petrindo Jaya Kreasi Tbk (CUAN) related to unusual price volatility (unusual).

Inarno conveyed that this examination was carried out because there were two suspensions up to further announcements that were close to each other. According to the procedure on the IDX, it must be checked first.

"If indications of irregularities are found, they will be reported to the OJK. Until now, the investigation is ongoing. So, there has been no report to the OJK," explained Inarno in his statement, Thursday, January 11.

In relation to Stock trading, Inarno conveyed that the efforts made by OJK in order to protect retail investors are to always supervise securities trading activities and coordinate continuously with SRO (Effort, KSEI, and KPEI) to prevent fraud practices.

Meanwhile, OJK and SRO require issuers to announce information disclosure both periodically and incidentally so that investors including retail investors obtain balanced (symmetric) information.

"The IDX has also pinned a special notation to provide information for investors on certain issuers that meet the criteria," he explained.

This is because CUAN shares have strengthened by thousands of percent since they were listed on the Exchange on March 8, 2023.

According to Kontan records, IDX has temporarily suspended trading of CUAN shares.

In the context of law enforcement, Inarno said that if there were indications of violations in the Stock trade, among others, were related to market manipulation, insider trading, and others.

According to the authority of the OJK, they will conduct examinations and/or investigations and impose sanctions in various forms.

Such as imposing sanctions in the form of fines, freezing activities, revocation of permits to the prohibition of activities in the capital market sector for a certain time to parties who violate it.