BEI Requests Clarification on Bank of Singapore's BACA Share Sale

Rapid Disposal Raises Questions

The Indonesia Stock Exchange (BEI) has formally requested clarification from PT Bank Capital Indonesia Tbk. (BACA) regarding the swift disposal of its shares by Bank of Singapore Limited through a repurchase agreement (repo) transaction. The transaction involved the sale of 2.8 billion shares, representing 14.03% of BACA's voting rights, within less than 30 days of acquisition.

Regulatory Compliance Confirmed

BEI Director I Gede Nyoman Yetna confirmed that both Capital Global Investama and Bank of Singapore Limited had fulfilled their reporting obligations as mandated by OJK Regulation No. 4/2024. The regulation requires disclosure of share ownership exceeding 5% and any subsequent changes. The reports were duly published on the BEI website, making the information accessible to the public.

Transaction Details and Regulatory Framework

The transaction was structured as a repurchase agreement (repo) with an indirect ownership status through GIA Ventures Pte Ltd. The shares were sold at Rp1 per share through a free-of-payment transfer mechanism. BEI emphasized that repo transactions are governed by OJK Regulation No. 9/POJK.04/2015, which mandates written agreements outlining the rights and obligations of parties involved, transaction duration, and tax obligations.

Market Implications

The rapid sale by Bank of Singapore, from acquisition on December 19, 2025, to disposal by December 24, 2025, has raised market concerns. BEI's request for further clarification indicates a need for greater transparency regarding the transaction's structure and purpose. This development highlights the ongoing scrutiny of significant share transactions in the Indonesian capital market.