Finance Minister through his letter number S-53/MK.10/2010 dated January 15, 2010, has imposed sanctions of business activity restrictions (PKU) to PT Binakarya Sarana as it does not have its own capital amounting to at least Rp1 billion.Jakarta (ANTARA News) - Finance Minister Agus Martowardoyo has revoked the business license of insurance brokerage firm PT Binakarya Sarana for failing to meet minimum capital requirements.
Finance Ministry`s public relations officer, Yudi Pramadi in his remarks said here on Monday that the revocation of the business license was made through the Ministry of Finance Decree number KEP-273/KM.10/2011 March 17, 2011.
Previously, Finance Minister through his letter number S-53/MK.10/2010 dated January 15, 2010, has imposed sanctions of business activity restrictions (PKU) to PT Binakarya Sarana as it does not have its own capital amounting to at least Rp1 billion.
The PKU is a further step after the first, the second, and the third warning is given respectively through the Finance Ministry`s letters number S-623/MK.10/2009 dated April 20, 2009, number S-899/MK.10/2009 of June 8, 2009 and the letter number S-1456/MK.10/2009 of September 17, 2009 to the company.
The decision to revoke the business license of PT Binakarya Sarana was taken because the company failed to cope with the causes of sanctions until the expiry date of improvement was given.
The Finance Minister`s decision comes into force from the date of promulgation of March 17, 2011.
Following the revocation of the business license, PT Binakarya Sarana was then prohibited to conduct business in the field of insurance brokers and should remove the company`s board name either at its central office or in other offices and settle all its debts and liabilities.(*)
Editor: Heru Purwanto
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