On 10 December 2012, The Indonesian competition regulator
(KPPU) issued its first fine for a failure to
comply with Indonesia's merger notification regime. Although
Indonesia's merger control regime has been active since the
promulgation of Government Regulation No. 57 of 2010 on 20 July
2010, the KPPU has just issued its first fine (of IDR 4.6bn, or
approximately USD475,000) for a failure to notify. It is not clear
yet whether the matter is under appeal. In its decision, No.
09/KPPU-M/2012, the KPPU fined PT Mitra Pinasthika Mustika for its
late notification of a share acquisition in PT Austindo Nusantara
Jaya Rent. This case is significant in that it is the first
involving a violation of Article 29 of the Anti-Monopoly Law (Law
No. 5 of 1999). Article 29 of the Anti-Monopoly Law requires the
KPPU to be notified of any merger, consolidation, or share
acquisition of a certain size within 30 (thirty) days. Although PT
Mitra Pinasthika Mustika argued that the failure was
