Wellson Lo Resigns, Sinarmas Asset and Bibit on Good Terms?

By Editorial Team 29/05/2020
Summary

PT Bibit Tumbuh Bersama (Bibit), a sales agency and provider of an online mutual fund investment platform, apologized to its clients and PT Sinarmas Asset Management on Wednesday (5/27). The apology came after Sinarmas Asset Management’s attorney, Hotman Paris, sent a subpoena, accusing the agency of defamation. Bibit previously advised the clients to sell their Sinarmas Asset Management mutual funds for their suspensions by the Financial Services Authority (OJK).

However, Bibit’s managing director and co-founder, Wellson Lo, decided to resign along with the company’s apology. Sigit Kouwagam, one of the company’s directors, took over his place. “The company decided to change the formation of directors after Bibit’s inaccurate assessment and suggestion on Sinarmas Asset Management mutual funds,” Sigit explained in a press release on Thursday (5/28).

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