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20260427_BUVA_Informasi Transaksi Afiliasi_32074283_lamp6.pdf
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DISCLOSURE OF INFORMATION TO THE SHAREHOLDERS OF
PT BUKIT ULUWATU VILLA TBK (The “Company”)
IN CONNECTION WITH AN AFFILIATED TRANSACTION IN COMPLIANCE WITH
FINANCIAL SERVICES AUTHORITY REGULATION NO. 42/POJK.04/2020
ON AFFILIATED TRANSACTIONS AND CONFLICTS OF INTEREST
(“DISCLOSURE INFORMATION”)
THIS DISCLOSURE OF INFORMATION HAS BEEN PREPARED AND ISSUED IN ORDER TO COMPLY WITH
FINANCIAL SERVICES AUTHORITY REGULATION NO. 42/POJK.04/2020 DATED 2 JULY 2020 CONCERNING
AFFILIATED PARTY TRANSACTIONS AND CONFLICTS OF INTEREST TRANSACTIONS (“POJK NO. 42/2020”)
THE BOARD OF DIRECTORS AND THE BOARD OF COMMISSIONERS OF THE COMPANY, INDIVIDUALLY AS WELL
AS JOINTLY, ASSUME FULL RESPONSIBILITY FOR THE COMPLETENESS AND ACCURACY OF ALL INFORMATION
OR MATERIAL FACTS DISCLOSED IN THIS DISCLOSURE OF INFORMATION AND HEREBY AFFIRM THAT THE
INFORMATION CONTAINED HEREIN IS TRUE AND THAT THERE ARE NO UNDISCLOSED MATERIAL FACTS
WHICH MAY CAUSE THE INFORMATION SET FORTH IN THIS DISCLOSURE OF INFORMATION TO BE
INACCURATE AND/OR MISLEADING.
FOLLOWING A THOROUGH REVIEW, THE BOARD OF DIRECTORS AND THE BOARD OF COMMISSIONERS OF
THE COMPANY, INDIVIDUALLY AS WELL AS JOINTLY, HEREBY DECLARE THAT THIS TRANSACTION DOES NOT
CONTAIN A CONFLICT OF INTEREST AS CONTEMPLATED UNDER POJK NO. 42/2020.
IF YOU EXPERIENCE ANY DIFFICULTY IN UNDERSTANDING THE INFORMATION SET FORTH IN THIS
DISCLOSURE OF INFORMATION, YOU ARE ADVISED TO CONSULT WITH A LEGAL ADVISOR, PUBLIC
ACCOUNTANT, FINANCIAL ADVISOR, OR OTHER PROFESSIONAL ADVISORS.
PT BUKIT ULUWATU VILLA TBK
Line of Business
Hospitality and Real Estate Owned or Leased
Domiciled in Badung Regency, Bali Province
Head Office Address
Jalan Belimbing Sari, Br. Tambyak, Desa Pecatu, Kecamatan Kuta Selatan,
Kabupaten Badung, Bali 80316, Indonesia
Telepon: (0361) 8482166
Faksimile: (0361) 8482188
Representative Office Address
Graha Iskandarsyah, Lantai 10, Jalan Raya Sultan Iskandarsyah No. 66C, Jakarta
Selatan 12160, Indonesia
Telephone: (021) 7209975/7209957
Faxmail: (021) 7207523
Website: www.buvagroup.com
Email: corsec@buvagroup.com
This Disclosure is issued on 27 April 2026
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DEFINITIONS AND ABBREVIATIONS
Affiliate : An Affiliate as referred to in Article 1 point 1 of POJK No. 42/2020.
Conflict of Interest : A Conflict of Interest as defined in Article 1 point 4 of POJK No.
42/2020.
BBP : PT Bukit Bali Permai, is a limited liability company established
under the laws of the Republic of Indonesia, domiciled in Badung
Regency, which is a subsidiary of the Company with ownership of
99.99% (ninety-nine-point ninety nine percent).
EPMS : PT Erlangga Prakarsa Mulia Sentosa, a limited liability company
established under the laws of the Republic of Indonesia, domiciled
in Badung Regency.
Kemenkum : Abbreviation of the Ministry of Law of the Republic of Indonesia
(formerly known as the Ministry of Law and Human Rights of the
Republic of Indonesia, the Department of Law and Human Rights
of the Republic of Indonesia, the Department of Justice of the
Republic of Indonesia, the Department of Law and Legislation of
the Republic of Indonesia, or other names).
Disclosure of Information : The information is set forth in this Disclosure of Information in
compliance with POJK No. 42/2020.
KJPP FSR : Public Appraisal Services Office of Felix Sutandar and Partners
(Kantor Jasa Penilaian Publik Felix Sutandar dan Rekan).
Menkum : Abbreviation of the Minister of Law of the Republic of Indonesia
(formerly known as the Minister of Law and Human Rights of the
Republic of Indonesia, the Minister of Justice of the Republic of
Indonesia, or the Minister of Justice and Human Rights of the
Republic of Indonesia, or other names).
OJK : Abbreviation of the Financial Services Authority, being an
independent state institution having the functions, duties, and
authorities of regulation, supervision, examination, and
investigation as referred to in Law No. 21 of 2011 concerning the
Financial Services Authority, as amended by Law No. 4 of 2023
concerning the Development and Strengthening of the Financial
Sector.
Company : PT Bukit Uluwatu Villa Tbk, a public limited liability company
established under the laws of the Republic of Indonesia, domiciled
in Badung Regency.
PMHMETD I : Capital Increase with Pre-Emptive Rights I conducted by the
Company in the third quarter of 2025 (Penambahan Modal dengan
Memberikan Hak Memesan Efek Terlebih Dahulu I).
POJK No. 17/2020 : OJK Regulation No. 17/POJK.04/2020 concerning Material
Transactions and Changes in Business Activities.
POJK No. 35/2020 : OJK Regulation No. 35/POJK.04/2020 concerning Appraisal and
Presentation of Business Valuation Reports in the Capital Market.
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POJK No. 42/2020 : OJK Regulation No. 42/POJK.04/2020 concerning Affiliated Party
Transactions and Conflicts of Interest Transactions.
RUPS : General Meeting of Shareholders (Rapat Umum Pemegang
Saham).
SHGB : Certificate of Right to Build (Hak Guna Bangunan).
Affiliated Party Transaction : An Affiliated Party Transaction as defined in Article 1 point 3 of
POJK No. 42/2020.
INTRODUCTION
The information set forth in this Disclosure of Information is provided to the shareholders of the
Company in relation to a transaction conducted by BBP with EPMS, which constitutes an Affiliated Party
Transaction, and therefore must comply with the procedures as stipulated under POJK No. 42/2020.
The Affiliated Party Transaction is a sale and purchase transaction carried out by BBP from EPMS, with
the object of the transaction in the form of land located in Pecatu, Badung, Bali, consisting of 3 (three)
HGB Certificates (Sertipikat Hak Guna Bangunan) with a total area of 8,395 m² and a total transaction
value of IDR 65,564,950,000 (sixty-five billion five hundred sixty-four million nine hundred fifty
thousand Rupiah), excluding taxes.
Pursuant to Article 4 paragraph (1) letters (a), (b), (c) of POJK No. 42/2020, the Company is required to
comply with the procedures for the implementation of an Affiliated Party Transaction, namely: (i) to
engage an independent appraiser to determine the fairness of the Affiliated Party Transaction; and (ii)
to disclose information to the public and submit such disclosure to OJK no later than 2 (two) working
days after the date of the Affiliated Party Transaction.
The Affiliated Party Transaction does not fall under the provisions of Article 4 paragraph (1) letter (d)
of POJK No. 42/2020.
DESCRIPTION OF THE TRANSACTION
1. BACKGROUND, REASONS, AND BENEFITS OF THE TRANSACTION
Transaction Overview
The land owned by EPMS is located adjacent to Alila Villas Uluwatu, Bali, one of the Company’s
flagship assets. Situated in the Uluwatu area of Bali, which is recognized as a premier international
tourism destination, the location is expected to contribute positively to the Company’s future
performance. The acquisition of this land is projected to deliver significant commercial value,
including enhanced operational synergy with existing assets, strengthening the Company’s position
in the hospitality industry, and creating new business development opportunities that will support
long-term revenue potential. Furthermore, ownership of land in this strategic location provides the
Company’s Group with full flexibility in planning and executing business expansion, while reducing
reliance on external parties compared to lease-based arrangements. Accordingly, this transaction not
only reinforces the Company’s asset portfolio but also supports the sustainability of operations and
the Company’s long-term growth strategy.
The land acquisition transaction undertaken by BBP forms part of the planned utilization of proceeds
from the Company’s PMHMETD I, as disclosed and published in the Prospectus of PMHMETD I of
BUVA dated 6 November 2025. The proceeds from such capital injection have been allocated to BBP
for capital expenditure in the form of land acquisition in Pecatu, Bali, and therefore this transaction
is in line with the Company’s commitment to strengthening its asset structure and supporting
business development in the tourism and hospitality sector.
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Reasons and Benefits of the Transaction
The purchase of land through the acquisition of three (3) Building Use Rights Certificates (SHGB)
located in Uluwatu, Bali, was carried out by the Company’s subsidiary engaged in the star-rated hotel
business. The land is situated adjacent to a hotel already owned and operated by the Company, and
is therefore expected to provide strategic synergy for business development.
The purpose of this acquisition is to strengthen the Company’s position in carrying out its principal
business activities, namely:
1. Star-Rated Hotel Business – providing accommodation services that meet the requirements of
star-rated hotels, as well as other supporting services for the public;
2. Other Accommodation Services – covering medium to long term lodging services, including
accommodation for students, seasonal workers, and similar occupants;
3. Real Estate Owned or Leased – including the acquisition, sale, leasing, and operation of real estate,
both residential and non-residential, including apartments, shopping centers, and residential area
development.
The benefits of this land acquisition are to support the Company’s and its subsidiaries’ core business
activities by:
1. Expanding accommodation capacity and facilities in the Uluwatu area, which has high tourism
potential.
2. Increasing the added value of the Company’s assets through the development of integrated
hospitality and real estate projects.
3. Strengthening the Company’s competitiveness in the tourism and accommodation sector by
leveraging a strategic location adjacent to an already operating hotel.
2. DESCRIPTION, CONSIDERATIONS, AND REASONS FOR CONDUCTING THE AFFILIATED
TRANSACTION COMPARED TO OTHER SIMILAR TRANSACTIONS WITH AFFILIATED PARTIES
The land purchase transaction by BBP from EPMS was chosen over other alternatives such as land
leasing or transactions with non-affiliated parties, as it provides long-term ownership certainty, the
strategic value of a location adjacent to the Company’s flagship asset, and more optimal operational
synergy.
With direct ownership of the land, the Company’s subsidiary gains full flexibility in business
development, avoids the risks associated with limited lease terms, and ensures the continuity of hotel
operations and hospitality projects in the Uluwatu area. In addition, transactions with affiliated
parties offer greater process efficiency and a higher level of transparency, making them more
beneficial to the Company compared to other similar transaction options.
3. TRANSACTION DATE
The date of the Affiliated Transaction is April 23, 2026, in accordance with the date of execution of
the Deed of Sale and Purchase Settlement between BBP and EPMS.
4. OBJECT OF THE TRANSACTION
The object of the Affiliated Party Transaction is land located in Pecatu, Badung, Bali, consisting of
3 (three) HGB Certificates (Sertipikat Hak Guna Bangunan) with a total area of 8,395m², with
details as follows:
a. HGB Certificate No. 918/Pecatu Village, South Kuta, with an area of 3,124 m² (three thousand
one hundred twenty-four square meters), as evidenced by the Land Survey Document dated
24 August 2010, No. 02428/Pecatu/2010, registered under the name of PT Erlangga Prakarsa
Mulia Sentosa, as stated in the certificate issued by the Head of the Badung Regency Land Office
dated 25 August 2010;
b. HGB Certificate No. 919/Pecatu Village, South Kuta, with an area of 2,449 m² (two thousand
four hundred forty-nine square meters), as evidenced by the Land Survey Document dated 24
August 2010, No. 02429/Pecatu/2010, registered under the name of PT Erlangga Prakarsa
Mulia Sentosa, as stated in the certificate issued by the Head of the Badung Regency Land Office
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dated 25 August 2010;
c. HGB Certificate No. 920/Pecatu Village, South Kuta, with an area of 2,822 m² (two thousand
eight hundred twenty-two square meters), as evidenced by the Land Survey Document dated
24 August 2010, No. 02430/Pecatu/2010, registered under the name of PT Erlangga Prakarsa
Mulia Sentosa, as stated in the certificate issued by the Head of the Badung Regency Land Office
dated 25 August 2010.
5. TRANSACTION VALUE
The value of the Affiliated Party Transaction for the acquisition of land located in Pecatu, Badung,
Bali, consisting of 3 (three) HGB Certificates with a total area of 8,395 m², amounts to IDR
65,564,950,000 (sixty-five billion five hundred sixty-four million nine hundred fifty thousand
Rupiah), excluding taxes.
6. PARTIES TO THE TRANSACTION
6.1. BBP
Brief Description
PT Bukit Bali Permai (“BBP”) is a limited liability company established under the laws of the
Republic of Indonesia and domiciled in South Jakarta Administrative City. BBP was established
under the name “PT Bukit Bali Permai” as set forth in the Deed of Establishment No. 09 dated 6
November 2014, drawn up before Angela Meilany Basiroen, S.H., a Notary in Jakarta, which has
obtained approval from the Minister of Law based on Decree No. AHU-33415.40.10.2014
concerning the approval of the establishment of the legal entity of PT Bukit Bali Permai dated 7
November 2014.
Articles of Association
The Articles of Association of BBP as contained in the Deed of Establishment have been amended
from time to time, with the latest amendment set forth in the Deed of Shareholders Resolution of
PT Bukit Bali Permai No. 9 dated 8 December 2025, drawn up before Rini Yulianti, S.H., a Notary
in East Jakarta Administrative City, which has been notified to the Minister of Law as evidenced
by the Receipt of Notification of Amendment to the Articles of Association No. AHU-AH.01.03-
0252357 dated 8 December 2025 and has been recorded in the Company Register at the Ministry
of Law under No. AHU-0080173.AH.01.02.TAHUN 2025 dated 8 December 2025 (“Deed No.
9/2025”).
Composition of the Board of Commissioners and the Board of Directors
The composition of the members of the Board of Commissioners and the Board of Directors of
BBP, as set forth in the Deed of Circular Resolution of the Shareholders of PT Bukit Bali Permai
No. 01 dated 2 February 2024, drawn up before Vindy Septia Anggrainy, S.H., M.Kn., a Notary in
Bogor City, which has been notified to the Minister of Law as evidenced by the Receipt of
Notification of Amendment to Company Data No. AHU-AH.01.09-0059506 dated 12 February
2024 (“Deed No. 01/2024”), is as follows:
Board of Directors
President Director : Satrio
Director : Hendry Utomo
Board of Commisioner
Commisioner : Astini Bernawati Oudang
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Capital Structure
Based on Deed No. 9/2025, the capital structure and shareholding composition of BBP are as
follows:
6.2. EPMS
Brief Description
PT Erlangga Prakarsa Mulia Sentosa ("EPMS") is a limited liability company established under
the laws of the Republic of Indonesia and domiciled in South Jakarta Administrative City. EPMS
was established under the name “PT Erlangga Prakarsa Mulia Sentosa” as set forth in the Deed
of Establishment of a Limited Liability Company No. 18 dated 10 March 2022, drawn up before
Buchari Hanafi, S.H., a Notary in Tangerang, which has obtained approval from the Minister of
Law pursuant to Decree No. AHU-0017927.AH.01.10.2022 concerning the approval of the
establishment of the legal entity of PT Erlangga Prakarsa Mulia Sentosa dated 11 March 2022.
Articles of Association
The Articles of Association of EPMS as contained in the Deed of Establishment have been
amended from time to time, with the latest amendment set forth in the Deed of Shareholders
Resolution of PT Erlangga Prakarsa Mulia Sentosa No. 07 dated 27 March 2024, drawn up before
Agung Sri Wijayanti, S.H., M.Kn., a Notary in East Jakarta Administrative City, which has been
notified to the Minister of Law as evidenced by the Receipt of Notification of Amendment to the
Articles of Association No. AHU-AH.01.03-0080540 dated 2 April 2024 and has been recorded in
the Company Register at the Ministry of Law under No. AHU-0020993.AH.01.02.TAHUN 2024
dated 2 April 2024 (“Deed No. 07/2024”).
Change of Domicile
EPMS has changed its domicile to Badung Regency, Bali, as set forth in the Deed of Shareholders
Resolution of PT Erlangga Prakarsa Mulia Sentosa No. 14 dated 25 May 2023, drawn up before
Agung Sri Wijayanti, S.H., M.Kn., a Notary in East Jakarta Administrative City, which has been
notified to the Minister of Law as evidenced by the Receipt of Notification of Amendment to
Company Data No. AHU-AH.01.09-0120929 dated 26 May 2023 and has been recorded in the
Company Register at the Ministry of Law under No. AHU-0028980.AH.01.02.TAHUN 2023 dated
26 May 2023 (“Deed No. 14/2023”).
Composition of the Board of Commissioners and the Board of Directors
The composition of the members of the Board of Commissioners and the Board of Directors of
EPMS, as set forth in Deed No. 14/2023, is as follows:
Board of Directors
President Director : Ir. Handoko P. Anggraito
Director : Santoso Indra
Board of Commisioners
Commisioner : Hapsoro
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Capital Structure
Based on Deed No. 07/2024, the capital structure and shareholding composition of BBP are as
follows:
7. NATURE OF THE AFFILIATION RELATIONSHIP BETWEEN THE PARTIES TO TRANSACTION
The affiliation relationship between BBP and EPMS results from common control by the same
ultimate beneficial owner. As reflected in the corporate structure below, BBP is a subsidiary of the
Company, while EPMS is also directly and/or indirectly controlled by Mr. Hapsoro. Accordingly, the
transaction between BBP and EPMS constitutes an Affiliated Party Transaction pursuant to POJK
No. 42/2020. The corporate structure below further illustrates the affiliation relationship between
BBP and EPMS:
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8. IMPORTANT INFORMATION RELATING TO THE AFFILIATED PARTY TRANSACTION
The land acquisition transaction undertaken by BBP forms part of the planned utilization of
proceeds from the Company’s PMHMETD I, as disclosed and published in the Prospectus of
PMHMETD I of BUVA dated 6 November 2025. In such Prospectus, it is stated that the Company will
make a capital injection into BBP in the amount of IDR 76,600,000,000 (seventy-six billion six
hundred million Rupiah). Furthermore, the proceeds from such capital injection will be utilized by
BBP as capital expenditure in the form of the acquisition of land located in Pecatu, Bali.
SUMMARY OF THE APPRAISER’S REPORT ON THE AFFILIATED TRANSACTION OBJECT
AND THE FAIRNESS OPINION ON THE AFFILIATED TRANSACTION
The Company has appointed an Independent Appraiser, being a Public Appraiser and a partner at KJPP
FSR (the “Appraiser”), with the following qualifications:
Qualifications : Property and Business
Appraiser License : PB-1.08.00022
STTD : STTD.PPB-31/PJ-1/PM.2/2023
MAPPI Membership : 81-S-00017
Registration No. : RMK-2017.00022
Summary of Appraisal Report No. 00166/2.0072-00/PI/05/0022/1/III/2026 Vacant Land at
Alila Villas Uluwatu, Pecatu Village, South Kuta District, Badung Regency, Bali Province
A. Identity of the Parties
1. Identity of the Engaging Party
PT Bukit Uluwatu Villa Tbk
Address : Graha Iskandarsyah 10th Floor, Jalan Iskandarsyah Raya No. 66C, Jakarta
Selatan
Telephone : 021-7209957
Faxmail : 021-7207523
Website : buvagroup.com
Email : info@buvagroup.com
Line of Business : Hotel
2. Identity of the Intended Users of the Report
PT Bukit Uluwatu Villa Tbk
Address : Graha Iskandarsyah 10th Floor, Jalan Iskandarsyah Raya No. 66C, Jakarta
Selatan
Telephone : 021-7209957
Faxmail : 021-7207523
Website : buvagroup.com
Email : info@buvagroup.com
Line of Business : Hotel
B. Object of the Apparaisal
The object of the appraisal is an asset classified as real property. The property included in this
appraisal is vacant land located behind the Alila Villas Uluwatu complex, Pecatu Village, South
Kuta District, Badung Regency, Bali Province. The vacant land subject to this appraisal will be
acquired by BBP.
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C. Purpose and Objectives of the Appraisal
In accordance with the engagement assigned to KJPP, the purpose and objective of the appraisal
are to provide an opinion on the Market Value of the asset, which will be used for the purpose of
the acquisition transaction by PT Bukit Bali Permai (a subsidiary of the Company).
Accordingly, the results of this appraisal may not be used for other purposes, such as lease
transactions, debt collateral, auction purposes, or any other purposes. This appraisal assumes that
the entity operates on a going concern basis and will continue its operations in the future.
Therefore, the entity is not assumed to have the intention or necessity to liquidate or materially
curtail the scale of its operations.
D. General Assumptions
1. The ownership rights and control over the object of the Appraisal are assumed to be
supported by valid and authentic documents, consistent with the originals, and have not been
amended or transferred;
2. The object presented by the Engaging Party and/or its representatives is assumed to be the
correct object of the appraisal. The Appraiser shall not be responsible if the asset presented
differs from or is not the asset intended within the scope of the engagement, including any
discrepancies in the documents provided;
3. The object of the Appraisal is assumed to be free from any disputes and/or potential
contamination or environmental-related issues;
4. In the event that the Engaging Party does not provide accurate data and information
regarding the object of the appraisal, including incorrect identification of the location
(whether by personnel assigned or representatives of the Engaging Party), the Appraiser shall
be released from any responsibility for inaccurate appraisal results arising from such errors
(KEPI 5.8 point b.2);
5. If any part of the object of the appraisal is not observable and requires the use of data
provided by the Engaging Party, such data shall constitute a special assumption in the
appraisal, whereby the accuracy of such information and data is deemed reasonable and
reliablear.
E. Valuation Guidelines and Standards
This appraisal has been prepared in accordance with the following: the Indonesian Appraisal Code
of Ethics (Kode Etik Penilai Indonesia or “KEPI”) and the Indonesian Valuation Standards (Standar
Penilaian Indonesia or “SPI”) Seventh Edition 2018, including SPI 207 and SPI 360, as well as the
revised editions of SPI 204, SPI 300, SPI 310, SPI 320, and SPI 330, as issued by the Indonesian
Society of Appraisers (Masyarakat Profesi Penilai Indonesia or “MAPPI”); Regulation No. VIII.C.4
concerning Valuation and Presentation of Property Appraisal Reports in the Capital Market;
Financial Services Authority Regulation of the Republic of Indonesia No. 28/POJK.04/2021
concerning Valuation and Presentation of Property Appraisal Reports in the Capital Market; and
Financial Services Authority Circular Letter of the Republic of Indonesia No. 33/SEOJK.04/2021
concerning Valuation and Presentation of Property Appraisal Reports in the Capital Market.
F. Conclusion
Based on the appraisal conducted as of 31 December 2025, the Market Value of the property object
within the scope of the engagement is IDR 67,160,000,000 (sixty-seven billion one hundred sixty
million Rupiah):
1. The scope of the appraisal is in accordance with the applicable regulations;
2. The business, economic, and regulatory conditions prevailing as of the appraisal date;
3. The appraisal results may change in the event of significant changes after the appraisal date;
4. The Appraiser is independent and has no interest in the parties subject to the appraisal.
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Summary of the Fairness Opinion Report on the Proposed Vacant
Land Acquisition Transaction
A. Identity of the Parties
Identity of the Engaging Party
The Engaging Party and the Intended Users of the Report in this matter are as follows:
Name : PT Bukit Uluwatu Villa Tbk
Line of Business : Jasa Akomodasi dan Real Estate
Address : Graha Iskandarsyah 10th Floor, Jl. Iskandarsyah Raya No. 66C,
Jakarta Selatan 12160
Email : info@buvagroup.com
Website : https://buvagroup.com/id/
Telephone : 021–7209957
Faxmail : 021–7207523
B. Object of the Fairness Opinion
The object of the Fairness Opinion is the proposed transaction in the form of the acquisition of
vacant land located on Jalan Belimbing Sari, Pecatu Village, South Kuta District, Badung Regency,
Bali, with a total area of 8,395 m², owned by PT Erlangga Prakarsa Mulia Sentosa.
No Certificate Area (m2)
1 HGB 918/Desa Pecatu 3.124
2 HGB 919/Desa Pecatu 2.449
3 HGB 920/Desa Pecatu 2.822
Total 8.395
C. Purpose and Objective
This report is intended to provide a Fairness Opinion on the Proposed Transaction. The purpose
of the Fairness Opinion, in accordance with the engagement received, is to be used as one of the
supporting documents for disclosure of information, as required under POJK No.
42/POJK.04/2020 concerning Affiliated Party Transactions and Conflicts of Interest Transactions.
D. Assumptions and Limiting Conditions
Without limiting the responsibility of the Appraiser, the Fairness Opinion is subject to the
following assumptions and limiting conditions:
1. This Fairness Opinion constitutes a non-disclaimer opinion;
2. The Business Appraiser has reviewed the documents used in the valuation process;
3. The data and information obtained are derived from sources considered reliable and accurate;
4. The financial projections used have been adjusted and reflect the reasonableness of the
projections prepared by management and their achievability;
5. The Business Appraiser is responsible for the conduct of the valuation and the reasonableness
of the financial projections;
6. This Fairness Opinion Report is intended for public disclosure, except for any confidential
information that may affect the Company’s operations;
7. The Business Appraiser is responsible for the Fairness Opinion Report and the final conclusion;
8. The Business Appraiser has obtained information regarding the legal status of the object of the
Fairness Opinion from the Engaging Party.
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E. Valuation Approaches dan Procedures
In analyzing the fairness of the Proposed Transaction, the following analytical procedures have
been performed:
1. Analisis transaksi;
2. Analisis kualitatif dan kuantitatif atas Rencana Transaksi;
3. Analisis atas kewajaran nilai transaksi; dan
4. Analisis atas faktor lain yang relevan.
F. Conclusion
Based on the fairness analysis of the Proposed Transaction as described in the report, KJPP is of
the opinion that the proposed land acquisition transaction undertaken by the Company is fair.
STATEMENT OF THE BOARD OF DIRECTORS AND THE BOARD OF COMMISSIONERS
OF THE COMPANY
1. The Board of Directors of the Company declares that the Affiliated Transaction has undergone
adequate procedures to ensure that the Affiliated Transaction is carried out in accordance with
prevailing business practices.
2. The Board of Directors and the Board of Commissioners of the Company declare that the land
acquisition by BBP constitutes an Affiliated Transaction and does not constitute a material
transaction as referred to in POJK No. 17/2020, nor does it constitute a transaction involving a
conflict of interest as referred to in POJK No. 42/2020.
3. The Board of Directors and the Board of Commissioners of the Company, either individually or
jointly, assume full responsibility for the accuracy and completeness of the information disclosed in
this Disclosure of Information, and hereby confirm that all material information has been disclosed
and that such information is not misleading.
ADDITIONAL INFORMATION
For further information in relation to the Affiliated Party Transaction, the shareholders of the Company may
submit their requests to the Corporate Secretary of the Company during the Company’s business days and
hours at the address stated below:
Corporate Secretary
PT Bukit Uluwatu Villa Tbk
Graha Iskandarsyah, Lantai 10,
Jalan Raya Sultan Iskandarsyah No. 66C, Jakarta Selatan 12160, Indonesia
Telephone: (021) 7209975/7209957
Faxmail: (021) 7207523
Website: www.buvagroup.com
Email: corsec@buvagroup.com
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Names mentioned 22 people and organisations named in the text · linked when the evidence is strong
unresolved
org
FINANCIAL SERVICES AUTHORITY
p.1 ×6
unresolved
org
PT Erlangga Prakarsa Mulia Sentosa
p.2 ×10
unresolved
org
Ministry of Law
p.2 ×3
unresolved
org
Ministry of Law and Human Rights
p.2
unresolved
org
KJPP FSR
p.2 ×2
unresolved
org
Kantor Jasa Penilaian Publik Felix Sutandar dan Rekan
p.2
unresolved
org
Minister of Law
p.2 ×7
unresolved
org
Minister of Law and Human Rights
p.2
unresolved
org
Minister of Justice
p.2
unresolved
org
Minister of Justice and Human Rights
p.2
unresolved
person
Angela Meilany Basiroen
· Notaris
p.5
unresolved
person
Rini Yulianti
· Notaris
p.5
unresolved
person
Vindy Septia Anggrainy
· Notaris
p.5
unresolved
person
Buchari Hanafi
· Notaris
p.6
unresolved
person
Agung Sri Wijayanti
· Notaris
p.6 ×3
unresolved
person
Hapsoro. Accordingly
p.7
unresolved
—
Faxmail
p.10
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
Rule parser
Needs review
confidence 0.091
5540 ms
12 Sep 2026 22:29
Raw output
{'appraiser_exempt': None,
'appraiser_name': '',
'assets': [],
'currency': None,
'fact_type': '',
'issuer_name': '',
'kind': 'MATERIAL_FACT',
'kjpp_name': '',
'letter_number': '',
'object_text': '',
'object_truncated': False,
'parties': [],
'pct_of_equity': None,
'reference_period': '',
'requires_rups': None,
'rups_date': None,
'ticker': '',
'transaction_date': None,
'valuation_date': None,
'value': None}