Thursday, September 22, 2011

NEWSFLASH: Indonesia revoked "Foreign Investment" from PT TVI Express Indonesia

TVI Express's Indonesian "branch office", PT TVI Express Indonesia, tried weasel out of their license suspension back on 03-AUG-2011 by claiming they are really a foreign company with previous approval by BKPM to accept investment from non-Indonesians. Now the decision was handed down by BKPM: the company is illegal, and even that "foreign investment license" is now revoked.  Suara Karya Online reports:  (following auto-translated by Google)

BKPM Will Freeze TVI Express 

Thursday, September 22, 2011
JAKARTA (AFP): The Investment Coordinating Board (BKPM) immediately freeze TVI Express business activity related to abuse of the business license.Indonesia Democracy Defenders Team (TPDI) welcomes and fully supports the firmness BKPM freezing step towards foreign investment company status (PMA) is.
TPDI Coordinator Peter Celestine, in Jakarta, Wednesday (21 / 9), said the freezing of all business activities of PT TVI Express business license based on the abuse which took effect on August 9, 2011.Previously, the company warned BKPM PMA by mail numbered 39/B.2 / A.9/VI / 2011 dated June 30, 2011.
In this letter, the agency said, TVI Express business activities berskemakan tiered marketing (multi-level marketing / MLM). This does not correspond with the business license issued by the BKPM, the services of travel agents, but similar activities run MLM business. This business is conducted without a license in the direct sales business (SIUPL) of the Investment Coordinating Board as the competent authority, "said Peter, citing a letter by the board. In the warning letter also stated that if the TVI Express did not file a response to a reprimand by the end of July 2011, it will sanctions in the form of revocation of an approval of investment.
To that end, the defense team appealed to people not to do business activity propagated TVI Express. "To the consumer who feels aggrieved by TVI Express, then immediately report it to police so that action can be taken in accordance with applicable laws," said Peter.
Related to the same thing, the defense team, which represents the number of consumers who feel cheated of up to tens of billions of dollars, officials reported TVI Express to the Criminal Investigation Police Headquarters on Wednesday (21 / 9).
Parties that reported are Goenarni Goenawan, as Director of TVI Express Indonesia and 41 per cent stake holders TVI Express. In addition, Ni Komang Suratiningsih (as holder of 10 percent stake TVI Express) and Tharun Trikha (WN India is also the holder of 49 percent shares of TVI Express) and Head of BKPM Gita Wirjawan.
All four reported that alleged to have committed illegal actions hurt consumers in Indonesia and other MLM companies. TVI Express mode in doing business is to ask the victim to pay Rp 2.6 million to enjoy the facilities of a hotel, discounts, and more.
In fact, the facility was rejected by five-star hotels as promised. In addition, there are consumers who had paid USD 2.6 million, but was not given an official receipt or certificate of membership was promised.
"Businesses globally TVI Express itself has been rejected in Australia, USA, China, and India, because it is considered as a business game of money," said Peter. (Jimmy Radjah)

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