JAKARTA – Jakarta Central District Commercial Court rejected the petition for Suspension of Debt Payment Obligations (PKPU) filed by Harmas against PT Bukalapak.com Tbk (BUKA),  yesterday (13/3).

In a disclosure on Friday (14/3), Cut Fika Lutfi, Corporate Secretary of BUKA, announced that the PKPU petition against the company was dismissed by the Jakarta Central District Court.

The ruling was based on key considerations, including the failure to meet the basic evidence requirement as there is still an ongoing civil dispute between the issuer and Harmas in the Supreme Court (MA). Furthermore, the number of creditors did not meet the required threshold, as no other creditors were presented during the evidence submission process.

"The panel's considerations essentially align with the objections and arguments presented by the company during the trial," she said.

Meanwhile, the stock market has yet to react positively to BUKA shares. The issuer's stock fell by IDR 2 to IDR 131 at the close of trading yesterday (13/3), with a trading volume of 200.01 million shares across 2,520 transactions valued at IDR 26.27 billion.

As of 4 PM WIB on Friday (14/3), BUKA shares slipped slightly by 0.76%, or IDR 1, to IDR 130. The stock opened at IDR 131, with a peak price of IDR 132 and a low of IDR 126 per share. (LK/ZH)