- In order to revise the prevailing provisions that address the submission of periodic financial reports by issuers and public companies, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") is currently preparing a Draft Regulation of the OJK on the Submission of Periodic Financial Reports by Issuers and Public Companies ("Draft Regulation").
- Under the new Draft Regulation, issuers and public companies (collectively referred to as "Companies") whose registration statements have become effective are required to submit complete periodic financial reports to the OJK via the OJK’s electronic reporting system.
- Companies are required to submit annual financial reports (laporan keuangan tahunan – "LKT") to the OJK and to announce the publication of said reports to the public by the end of the third month after the relevant LKT date. Meanwhile, the following timeframes have been set for the submission of semi-annual financial reports (laporan keuangan tengah tahunan – "LKTT"): 1) The end of the first month after the relevant LKTT date at the latest, if not accompanied by any public accountant’s report; 2) The end of the second month after the relevant LKTT date at the latest, if accompanied by a public accountant’s report within the context of a limited review; and 3) The end of the third month after the relevant LKTT date at the latest, if accompanied by a public accountant’s report within the context of an LKTT audit.
- Companies whose shares are listed on the stock exchange are required to announce their periodic financial reports through the following channels at the least: 1) The official website of the stock exchange; and 2) Companies’ official websites, in both the Indonesian language and the relevant foreign languages, provided that any foreign languages that are used should include English at the least. Meanwhile, unlisted Companies are required to announce their periodic financial reports through their official websites, as well as within the pages of one Indonesian-language, nationally circulated daily newspaper or via a website provided by the OJK.
- Periodic financial reports that are audited and announced to the public through newspapers should feature the following information at the least: 1) Report that addresses the relevant financial position; 2) Report that addresses profits and losses, as well as other comprehensive income; 3) Cash-flow report; and 4) Opinions of public accountants who audit periodic financial reports.
- The Draft Regulation is currently being deliberated by the OJK and may thus be subject to further changes.
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