( February 25, 2025, 03:45 GMT | Official Statement) -- MLex Summary: Singapore-based automotive service company Trusty Cars has been fined 1.5 billion rupiah ($92,000) for failing to promptly notify the Indonesian Competition Commission, or KPPU, of its acquisition of local vehicle rental firm Mitra Pinasthika Mustika Rent, or MPMRent. Trusty Cars purchased 50 percent of MPMRent on May 31, 2022, from its parent entity, Mitra Pinasthika Mustika. The acquisition became effective on July 12, 2022, but was only notified to the KPPU on July 28, 2022, which means a delay of 13 working days under the commission’s post-merger notification rule.The full statement, in Indonesian, follows: ...
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