Jakarta, CNBC Indonesia – PT Bukalapak.com Tbk (BUKA) had misrepresented its financial statements for the third quarter of 2021 where the value of one startup acquisition transaction was presented in different figures with a striking difference in value.
In the financial statements for the third quarter of 2021, precisely in the events section after the reporting date, on November 4, 2021, PT Kolaborasi Kreasi Investa and Bina Unggul Kencana signed a share purchase agreement with PT Learning to Grow Sharing. The Kreasi and Bina Unggul collaboration are BUKA’s two subsidiaries.
In the report it was written, the acquisition value of Learning to Grow Sharing reached US$ 1 billion. This is equivalent to more than Rp. 14 trillion if you use the assumption of the current rupiah exchange rate.
A number of local media and financial advisory institutions even had time to review the acquisition with a fantastic value. Later, the value of the acquisition was wrong.
The value is not US $ 1 billion but only US $ 1 million. This is only equivalent to around Rp. 14.36 billion. This mistake was confirmed by the management of BUKA.
“With regards to the news in the media on March 23, 2022, we hereby clarify that the share sale and purchase transaction between the Kreasi Investa Collaboration and Bina Unggul Kencana which occurred on November 4, 2021 is related to the purchase of 100% of PT Learning Grows Sharing shares, totaling 11,340 shares. is US$ 1 million and not US$ 1 billion,” explained Monica Chua, Head of Public Relations for Bukalapak, Thursday (24/3/2022).
He added that the disclosure of information related to this clarification had also been submitted to the Indonesia Stock Exchange (IDX).
The information on the sale and purchase value of the shares is contained in the Addendum to the Conditional Shares Sale and Purchase Agreement signed by KKI and BUK on January 11, 2022.
This information will be further published in the Financial Statements for the fourth quarter of 2021 because the third quarter of 2021 financial statements have been published in November 2021.
“The purpose of this transaction is to present a business development learning platform for all MSME actors in Indonesia in the Bukalapak ecosystem. This is in line with Bukalapak’s goal to encourage the growth of Indonesian MSMEs and create a fair economy for all,” explained Monica.
(RCI)
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