KSP Indosurya ‘beyond our authority’, says OJK about cooperative in default

first_imgThe Financial Services Authority (OJK) says the case of savings and loans cooperative KSP Indosurya, which has failed to repay customer funds, lies outside of its supervision.OJK spokeswoman Sekar Putih Djarot said in a statement on Sunday that the authority was in close contact with the Cooperatives and Small and Medium Enterprises Ministry on handling the situation, as KSP Indosurya fell under the ministry’s authority. The OJK was also coordinating with the Investment Alert Task Force on handling the institution’s inability to repay customers, she said.KSP Indosurya customers reportedly came forward in February and complained that the cooperative had failed to return customer funds citing “unfavorable economic conditions” that affected its financial performance. The cooperative also said it needed to take strategic steps to improve its financial situation, according to a letter issued by KSP Indosurya to its customers on Feb. 20.“One of the strategic steps we are taking is to automatically extend timed savings that fell on Feb. 10,” KSP Indosurya wrote in the letter. The management also said that it would pay all of its obligations to its customers “when the situation improves”.The situation, however, failed to improve as KSP Indosurya filed for a debt service postponement with the Central Jakarta Commercial Court on March 6. The filing document does not provide many details, stating only that the cooperative had debts that had reached the due date, and the company could postpone debt repayment for 45 days following the court’s ruling.Former employees of the cooperative have also come forward after media reported that the cooperative was laying off a majority of its employees without severance pay. The reports said KSP Indosurya could lose up to Rp 10 trillion (US$636 million) in customer funds. Multiple efforts by The Jakarta Post to contact KSP Indosurya for clarification were to no avail.Sekar of the OJK said the cooperative was not legally related to financial holding Indosurya Group, despite the same name.“Indosurya Group is a financial conglomerate supervised by the OJK,” she said in the statement.The conglomerate consisted of PT Indosurya Inti Finance as the main entity, securities firm PT Indosurya Bersinar Sekuritas, investment management firm PT Indosurya Asset Management, life insurer PT Asuransi Jiwa Indosurya Sukses and several Bank Perkreditan Rakyat (BPR) or secondary banks.Indosurya Inti Finance spokesperson Sarastika Putri also said in February that her company was not related to the cooperative.Topics :last_img read more

UFC: Conor McGregor wanted to return and fight in the December 14 card

first_img SUBSCRIBE TO US 10 months ago UFC: Jose Aldo looks shreded in new shape for bantamweight division 10 months ago UFC: Conor McGregor has been named as the richest fighter of UFC Raj Sarkar I’m fighting the Irishman next. You’re close but not yet buddy keep punching @danthehangman— The Diamond (@DustinPoirier) October 6, 2019 COMMENT LIVE TV Also Read- UFC News: Mike Tyson Has Some Advice For Embattled Conor McGregorUFC: Conor McGregor was about to fightAccording to Conor, he was about to fight at this time of the year and stated that UFC delayed his fight. McGregor stated that he was constantly trying to get the December 14th card too but the UFC matchmakers have made things harder for the Irish Legend. In a recent interview, UFC President Dana White said that Conor McGregor is no longer the man and also rejected the possibility of Conor McGregor’s Twitter callout to Frankie Edgar. After McGregor’s recent statement, it can be assumed that things are not going well between him and UFC. Conor said that he is ready to fight, he wants to compete, he is giving dates to UFC but they are not offering him a fight deal. Also Read- Conor McGregor Posts Fight Video Against Khabib From UFC 229UFC: Conor McGregor call-outsSince his loss at UFC 229, Conor McGregor is popping names like now and then. He sparked the name of Donald Cerrone after the fight and ‘Cowboy’ showed equal interest but nothing became fruitful. Conor also called out for a rematch against Khabib and they had a huge twitter war but it ended up in confusion after Dana White said that it is Khabib who is going to decide whether the fight will happen or not. In between, Dustin Poirier’s name popped up along with Frankie Edgar and nobody has a clear idea about Conor McGregor’s return or next opponent. Also Read- UFC: Jose Aldo Looks Shreded In New Shape For Bantamweight DivisionAlso Read- UFC: Will Dustin Poirier Fight In The Featherweight Division Again? Written By FOLLOW UScenter_img WATCH US LIVE Happy birthday Frankie, see you in December.— Conor McGregor (@TheNotoriousMMA) October 16, 2019 WE RECOMMEND “I even offered for the Frankie Edgar bout to donate my purse to charity. Because they were saying we won’t make enough money on the Frankie fight and I was like, I don’t care, don’t worry about me, give my purse to charity. But for whatever reason, it’s being made difficult.” Said McGregor. First Published: 24th October, 2019 17:33 IST It seems that speculations about Conor McGregor’s UFC return is nowhere close to ending and the Irish superstar has once again hinted about his comeback in a recent media interaction. After losing against Floyd Mayweather in one of the biggest boxing fights of all times, Conor returned to UFC a year ago against lightweight champion Khabib Nurmagomedov at UFC 229. Conor McGregor tasted a bitter loss against Khabib and since there has only been rumours and social media battles about his comeback. Last Updated: 24th October, 2019 17:33 IST UFC: Conor McGregor Wanted To Return And Fight In The December 14 Card Irish Superstar Conor McGregor wants to make his UFC return desperately. He wants to fight in the December 14 card but UFC is not offering him a match. 10 months ago UFC: The biggest dream matches that never happened inside the cage 10 months ago UFC: Jose Aldo loses weight for bantamweight division; Slams Cejudo 10 months ago UFC: After a feud with Khabib, Conor McGregor is going to Moscowlast_img read more