Indonesia's Financial Services Authority (OJK) imposed administrative sanctions and prohibitions on PT Bliss Properti Indonesia Tbk, PT Sejahtera Bintang Abadi Textile Tbk and related individuals and service providers for breaches of capital markets requirements covering issuer financial reporting, IPO underwriting controls and conflict-of-interest transactions. For PT Bliss Properti Indonesia Tbk, OJK fined the issuer IDR 2,700,000,000 for misstating assets by recognising a related-party receivable of IDR 31.25 billion and an advance payment of IDR 116.7 billion in its 2019 annual financial statements and 2019–2023 annual financial statements, despite these balances not providing future economic benefits. The release links the balances to IPO proceeds that flowed to the company’s controller, Benny Tjokrosaputro (IDR 126.6 billion), and to PT Ardha Nusa Utama (IDR 116.7 billion). Benny Tjokrosaputro was barred for life from serving as commissioner, director and or management in the capital markets sector, while directors were fined jointly and severally (IDR 110,000,000 for the 2019 board and IDR 1,950,000,000 for the 2020–2023 board) and the President Director (2019–2023) was prohibited from capital markets activities for five years. OJK also fined two public accountants from Kanaka Puradiredja, Suhartono (IDR 150,000,000 each) for audit work that did not fully apply professional standards, and sanctioned one of them for failing to report indications of internal control deficiencies to OJK. PT Nonghyup Korindo Sekuritas Indonesia, as underwriter, was fined IDR 525,000,000 and had its underwriting licence frozen for one year (with underwriting for registration statements submitted before the sanction letter still permitted), alongside a IDR 40,000,000 fine and a one-year capital markets activity ban for a director; OJK cited fixed-allotment allocations to nominees and inadequate customer due diligence on beneficial ownership and source of funds. Total fines tied to the Bliss case were IDR 5,625,000,000. For PT Sejahtera Bintang Abadi Textile Tbk, OJK issued a written warning for failing to follow conflict-of-interest transaction procedures in connection with interest rate reductions under July 2020 addenda to agreements with PT Mitra Buana Korporindo and PT Celestia Sinergi Indonesia. Controller Tan Heng Lok was fined IDR 45,000,000 and barred for five years from serving as commissioner, director and management in the capital markets sector, with OJK stating he benefited from the conflict-of-interest transaction to the company’s detriment.

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