JAKARTA--Capital Market Supervisory Agency (Bapepam-LK) suspended PT Patra Multifinance financing business activity.
Based on publication released by Bapepam-LK today, (6/14/2012), the multifinance business activity suspension was based on letter No. S-652/MK.10/2012 dated May 16, 2012.
Bapepam-LK secretary Bastari said Patra Finance is banned from making new financing contract.
As of May 2012, market watchdog noted that there were 197 financing companies that have financing business license.
Based on data published by Bank Indonesia, the total funding channeling by April 2012 reached IDR273.19 trillion, up 34.32% from the same period last year of IDR203.38 trillion. (T07/TW)