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Salim group hydropower company fined for late notification in Indonesia

( November 12, 2024, 03:53 GMT | Official Statement) -- MLex Summary: A Salim Group hydropower company, Tamaris Hidro, has been fined 10 billion rupiah ($635,000) failing to notify its acquisition of a mini-hydro power plant, Sumber Baru Hydropower, within the post-merger notification period. The acquisition, which took place in April 2021, should have been reported to the Indonesian Competition Commission within 60 days, but was only notified on Feb. 25, 2022, 156 working days late. The full statement follows:...

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