4,000 Minna Padi Customers Demand Settlement Of Dissolution Of 6 Mutual Fund Products That Ended In IDR 4.8 Trillion Losses

Jackson, customer representative for Minna Padi Asset Management. (Mary Handayani/VOI)

JAKARTA - A number of investors from PT Minna Padi Aset Manajemen (MPAM) have again demanded their rights to receive payments from the investment management company. This case has been going on for almost two years, but until now there has been no progress in the payment of funds after the last payment was made more than a year ago.

MPAM Jackson's investor representative said more than 4,000 customers are demanding the case be resolved. Therefore, his party hopes that the financial services authority (OJK) will take action to resolve the issue.

"It's been almost two years, but until now the clarity of the refund of MPAM Victims' savings funds is still unclear," he said at a press conference at Hotel Borobudur, Jakarta, Friday, June 11.

Furthermore, 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, how much for 1 year. (But) from the beginning 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.

As is known, based on the OJK 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.