- Companies including Amazon.com Inc AMZN and Alibaba Group Holding Ltd BABA missed a deadline to register in Indonesia, Bloomberg reports.
- Other companies missing the deadline included Roblox Corp RBLX, Microsoft Corp MSFT LinkedIn Corp, and PayPal Holdings, Inc PYPL.
- The companies have five working days to comply to help them continue their services in the country.
- The non-submission of official business registrations by the non-compliers grants Indonesia sweeping powers to shut down content it deems undesirable and tax digital sales.
- Alphabet Inc's GOOG GOOGL Google and Meta Platforms Inc's META Facebook have complied.
- Social media operators are amid intense scrutiny from global regulators over their growing influence.
- Indonesia's government can rightfully block services that fail to remove within 24 hours content that could potentially "incite unrest" or "disturb public order."
- Alibaba and Meituan MPNGY jointly handed out 92% of China's antitrust penalties following its sweeping crackdown on the domestic tech sector.
- Price Action: AMZN shares traded lower by 0.43% at $124.10 in the premarket on the last check Friday.
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