​Indonesia Financial Services Authority herewith announces the results of formal investigation and continued supervision in the case of violations of Capital Market regulations by PT Indosterling Aset Manajemen.

Considering the facts and information obtained during the formal investigation and continued supervision, on August 20th 2024 Indonesia Financial Services Authority imposed Business Licence Revocation on PT Indosterling Aset Manajemen as Investment Manager for being proven to violate Capital Market Regulation and PT Indosterling Aset ​Manajemen fulfilled the following conditions as mentioned in the provisions of number 7 letter a point 2) jo. letter f point 1) letter a), letter c), and letter d) Regulation Number V.A.3 Attachment to the Decree of the Chairman of Bapepam and LK Number Kep 479/BL/2009 dated 31 December 2009 concerning Licensing of Securities Companies Conducting Business Activities as Investment Managers as follows:

1. office not found;

2. did not have employees to carry out Investment Manager functions;

3. unable to comply with the Specific Action Order by the specified deadline;

4. unable to comply with minimum composition of Board of Directors and Board of Commissioners;

5. did not commissioner;

6. have independent unable to comply with requirement of Investment Manager Functions;

7. unable to comply with minimum requirement of Net Adjusted Working Capital;

8. did not submit periodic reports to Indonesia Financial Services Authority;

Following the revocation of the business license as Investment Manager mentioned above, PT Indosterling Aset Manajemen:

1. is prohibited from conducting business activities as Investment Manager;

2. is required to settle all obligations to customers in the business activities as an Investment Manager (if any);

3. is required to complete all obligations to Indonesia Financial Services Authority through Sistem Informasi Penerimaan Otoritas Jasa Keuangan (SIPO) (if any);

4. is required to execute dissolution of the Securities Company no later than 180 (one hundred and eighty) days after this decision letter is stipulated, as regulated in Article 46 paragraph (1) and paragraph (2) of the Financial Services Authority Regulation Number 3/POJK.04/2021 concerning Organizing Activities in the Capital Market Sector; and

5. is prohibited to use the name and logo of the Company for any purposes and activities, other than for activities related to the dismissal of the Limited Liability Company.