Some of you may have heard about Harfam and OJK (Financial Services Authority). Some of the Internet media these days have reported false negative news about Harfam based on the release of OJK (dated 7 November 2014). Before you evaluate further, let us discuss about what OJK exactly is.

Financial Services Authority or commonly referred to as OJK is an independent institution which has the authority to implement the integrated regulation and supervision of the overall activities in the financial services sector. OJK was formed with the aim that all the activities in the financial services sector can be fair, transparent, and accountable to build a sustainable and stable financial system as well as protecting the interests of the consumers and society.

In law No.21 of 2011 regarding the OJK, it is mentioned that sectors that are supervised by the OJK include financial services activities in the banking sector, capital market, insurance, pension funds, and other financial institutions. From here, we can see that the OJK is only entitled and authorized to supervise financial institutions.

Due to the abundant news release related to the release of OJK about the companies that do not get permission from or are not supervised by OJK, this article tries to explain what Harfam is actually like. Harfam is a company engaged in the business of Services, Commerce, Agriculture, and Industry. So far, Harfam focuses as a company engaged in the environmental conservation and empowerment in the form of services of planting, maintenance and utilization of teak trees so that it can have high economic value and give positive impact on the environment and surrounding communities.

Harfam plants, nurses, and cultivates teak trees using the concept of partnership with public, focused on individuals. Harfam has some resources in the form of:

  • Land
  • Teak seedlings
  • Fertilizers
  • LaborsResearch and nursery laboratory
  • Expertise in building a teak forest

From here, we can already see that Harfam is not an investment company or a public fund manager. In Harfam, the public become partners, not investors. Harfam and partners build the teak forest together. If this is the case, should Harfam register to OJK? As mentioned in the laws, OJK is authorized to supervise financial institutions so that every sector engaged in finance is required to register to OJK. Since Harfam is not engaged in financial and investment sectors, Harfam is not required to register to OJK

You might wonder on how to believe that Harfam is not an investment scam company. To answer that, let’s look at the characteristics of an investment scam company:

– Promising large investment benefits (profits) that are too good to be true;

– The investment is not offered through broadcasters (TV and radio) but offered only via internet/online; the investment has no clear business domicile and we cannot interact physically with the company;

– The investment works like a chain: member gets member, but there are no goods used as the object of investment, or if there are goods, the price of these goods is not reasonable if compared with similar goods sold in the market

  • The public funds are managed / reinvested in overseas projects
  • Using public figures, officials, religious leaders, celebrities
  • Promising luxury goods and traveling abroad as the bonus
  • Associating investment with charity or worship
  • Giving impression that the investment is risk-free
  • Giving impression that the investment is secured or affiliated with large/multinational companies
  • The investment does not have business license, or if it has one, the business license does not correspond to the business activities conducted.

Of the 10 characteristics above, do you find anything identical with what Harfam is doing? The profit projection in Harfam is based on statistical calculations (using data of Perhutani as the basis). Harfam offers and advertises the business through exhibitions, radio talk shows (Suara Surabaya, Smart FM, Elshinta), television (Kompas TV Denpasar, Kompas TV Jawa Timur, Balikpapan TV). The domicile of the company is clear and Harfam also has received SIUP (Trade Permit) No.503/2229.A/436.6.11/2013 and Company Registration (Tanda Daftar Perusahaan) No.503/2348.D/436.6.11/2013 from the Department of Trade and Industry.

It is absolutely clear that Harfam is a legal company with a real product in the form of teak forests.

Harfam has also confirmed this to the OJK that finally published a new release about the companies which obtained licenses outside the OJK institution (dated 14 November 2014). The release can be found in Harfam, OJK, and other institutions have the same mission to educate the public about the importance of building a legal business (not a scam). Why is that so? Because the emergence of these investment scam companies affect the public confidence to do business though in fact Harfam itself is not an investment company. If this continues to happen, the development of the real sector will be hampered and this will result in the weakening of long-term economic growth. Once again, the government and society will be severely impaired.

If you still want to ask further about Harfam, you can contact our partner care on (031) 5348740 or come to our office at:


Harfam Surabaya (Head Office)

Panglima Sudirman St. 101-103
Surabaya 60271, East Java, Indonesia
Telp : (031) 5460619

HARFAM Jakarta (Branch Office)

Manggala Wanabakti Building
Block VI 8th Floor No. 814 Wing B
Gatot Subroto Senayan St., Central Jakarta 10270
Telp : (021) 574 7056

HARFAM Semarang (Branch Office)

Wisma HSBC 3rd Floor Room 305
Gajah Mada St. No 135 Semarang 50135Telp : (024) 845 2975

HARFAM Denpasar (Branch Office)

Diponegoro St. No. 204, Denpasar – Bali
Telp : (0361) 849 1700

We will be happy to answer all your questions because we are committed to working with you to build a better future