Heaptalk, Jakarta — Indonesia-based e-commerce company Bukalapak (issuer code: BUKA) has been ordered to pay PT Harmas Jalesveva compensation of US$6.7 million, approximately Rp107 billion, in a Supreme Court ruling in a civil case.
As is known, Bukalapak is claimed to have unilaterally terminated a lease agreement for the One Belpark Office building owned by PT Harmas Jalesveva. The company initially planned to lease the entire building floor but ultimately canceled the deal unilaterally, resulting in financial losses for Harmas.
PT Harmas explained that it had prepared the building according to Bukalapak’s specifications. However, when construction was completed, the Indonesian e-commerce company claimed that Harmas had delayed the completion and had not compensated for the incurred losses.
As a result, Harmas sued Bukalapak for Rp90.3 billion, alleging that the company had unilaterally canceled the lease for space and floors in the Office Tower One Belpark. The two entities had previously signed a Letter of Intent (LoI).
The e-commerce company had previously paid a deposit of Rp6.5 billion for the building lease. However, Bukalapak claimed that Harmas failed to deliver the building by the deadline specified in the agreement. The court dismissed Harmas’s lawsuit in February 2022. However, the problem is getting more complicated as Harmas filed another lawsuit against Bukalapak with a higher claim, reaching Rp107 billion.
In response to the issue, the Corporate Secretary of Bukalapak, Cut Fika Lutfi, conveyed, “Following the legal ruling, the company has determined to file a legal action for a Judicial Review with the Supreme Court against Cassation Decision Number 2461 K/PDT/2024 through the South Jakarta District Court,”
“BUKA will continue maintaining operational stability and legal compliance by strengthening internal policies and conducting regular evaluations of operational processes. These measures aim to prevent potential legal issues and ensure operational continuity.” Cut Fika affirmed.
Previously, this e-commerce company announced its third-quarter (Q3) financial report by recording a net loss attributable to the parent entity’s owners of about US$38 million as of September 2024. BUKA realized that its Q3 had the lowest momentum for its business performance due to the seasonality of the business, affecting both the online-to-offline (O2O) and marketplace divisions.
This e-commerce has been re-evaluating the prospects of several business segments and has decided that restructuring is required to achieve the company’s strategic objectives. BUKA has determined to focus on the following core businesses: Mitra Bukalapak, Gaming, Investment, and certain retail services. This restructuring will result in layoff determination across the business line, which will be implemented over two quarters in 2025.
