20260709_OTMA_Tanggapan atas Permintaan Penjelasan Bursa_32110397_lamp1.pdf

                             Penjelasan PT Oto Multiartha (OTMA)

Merujuk pada surat Bursa tanggal 6 Juli 2026 perihal Permintaan Penjelasan PT Oto Multiartha
(OTMA/Perseroan), berikut ini penjelasan yang Perseroan dapat sampaikan kepada Bursa, sebagaimana
berikut:

Status Obligasi
1. Mengingat Perseroan akan berakhir demi hukum pada Tanggal Efektif Penggabungan, mohon
    penjelasan mengenai status seluruh obligasi Perseroan yang masih beredar (outstanding) dan
    tercatat di Bursa, termasuk mekanisme peralihan kedudukan Perseroan sebagai emiten/penerbit
    obligasi kepada PT Summit Oto Finance (SOFN) sebagai Perusahaan Penerima Penggabungan.

   Jawaban:
   Berikut ini adalah obligasi Perseroan yang masih beredar (outstanding) dan tercatat di Bursa
   (“Obligasi OTMA”):

    a) Obligasi Berkelanjutan I OTO Multiartha Tahap I Tahun 2023: (i) Seri A sebesar Rp315,00
       miliar yang jatuh tempo pada 7 Juli 2026; dan (ii) Seri B sebesar Rp185,00 miliar yang jatuh
       tempo pada 7 Juli 2028;
    b) Obligasi Berkelanjutan I OTO Multiartha Tahap II Tahun 2024: (i) Seri B sebesar Rp114,705
       miliar yang jatuh tempo pada 4 September 2027; dan (ii) Seri C sebesar Rp330,02 miliar yang
       jatuh tempo pada 4 September 2029;
    c) Obligasi Berkelanjutan I OTO Multiartha Tahap III Tahun 2025: (i) Seri B sebesar Rp29,50
       miliar yang jatuh tempo pada 27 Maret 2028; dan (ii) Seri C sebesar Rp332,20 miliar yang
       jatuh tempo pada 27 Maret 2030; dan
    d) Obligasi Berkelanjutan I OTO Multiartha Tahap IV Tahun 2025: (i) Seri A sebesar Rp300,00
       miliar yang jatuh tempo pada 18 Juni 2028; dan (ii) Seri B sebesar Rp700,00 miliar yang jatuh
       tempo pada 18 Juni 2030.

    Sejak tanggal efektif Penggabungan, berdasarkan ketentuan peraturan perundang-undangan yang
    berlaku, seluruh hak dan kewajiban yang timbul berdasarkan Obligasi OTMA (termasuk kewajiban
    pembayaran) akan beralih demi hukum kepada SOFN, dan karenanya menjadi tanggung jawab
    SOFN.

2. Apakah ketentuan dalam Perjanjian Perwaliamanatan atas masing-masing seri obligasi Perseroan
   mensyaratkan persetujuan Rapat Umum Pemegang Obligasi (RUPO) dan/atau persetujuan Wali
   Amanat sehubungan dengan rencana Penggabungan? Apabila ya, mohon disampaikan jadwal
   pelaksanaan RUPO dan status persetujuan dimaksud.

   Jawaban:
   Perjanjian Perwaliamanatan atas masing-masing seri obligasi Perseroan tidak mensyaratkan
   persetujuan Rapat Umum Pemegang Obligasi (RUPO) dan/atau persetujuan Wali Amanat
   sehubungan dengan rencana Penggabungan. Tindakan penggabungan Perseroan dengan SOFN
   merupakan tindakan yang telah disetujui dan oleh karena itu berdasarkan Perjanjian
   Perwaliamanatan pelaksanakan RUPO tidak lagi diperlukan.

3. Apakah rencana Penggabungan ini berpotensi memicu ketentuan event of default, negative
   covenant, atau kewajiban pelunasan dipercepat (early redemption) berdasarkan Perjanjian
   Perwaliamanatan obligasi Perseroan? Agar dijelaskan mitigasinya.

   Jawaban:
   Rencana Penggabungan tidak berpotensi memicu ketentuan event of default, negative covenant,
   atau kewajiban pelunasan dipercepat (early redemption) berdasarkan Perjanjian Perwaliamanatan
   obligasi Perseroan, tindakan penggabungan Perseroan dengan SOFN merupakan tindakan yang
   telah dikecualikan sebagaimana diatur dalam Perjanjian Perwaliamanatan.

4. Apakah akan terdapat perubahan nama obligasi? Jelaskan.

    Jawaban:
    Penggabungan tidak mengubah identitas maupun karakteristik masing-masing seri obligasi yang
    telah diterbitkan, sehingga tidak terdapat perubahan nama obligasi sebagai akibat dari
    Penggabungan.

5. Agar dikonfirmasikan apakah seluruh kewajiban pembayaran bunga (kupon) dan pokok obligasi
   Perseroan akan tetap dipenuhi tepat waktu selama proses Penggabungan berlangsung maupun
   setelah Tanggal Efektif Penggabungan, serta pihak mana yang akan menjadi penanggung jawab
   pembayaran setelah peralihan.

    Jawaban:
    Perseroan berkomitmen dan akan memastikan bahwa seluruh kewajiban pembayaran bunga
    (kupon) dan pokok atas obligasi Perseroan akan tetap dipenuhi tepat waktu sesuai dengan jadwal
    yang telah ditetapkan, baik selama proses Penggabungan maupun setelah Tanggal Efektif
    Penggabungan. Sejak Tanggal Efektif Penggabungan, tanggung jawab atas pemenuhan seluruh
    kewajiban tersebut beralih demi hukum kepada SOFN selaku perusahaan penerima Penggabungan.

6. Agar dijelaskan mengenai rencana tindak lanjut atas pencatatan obligasi Perseroan di Bursa setelah
   Tanggal Efektif Penggabungan, termasuk apakah akan dilakukan perubahan nama penerbit dalam
   sistem pencatatan Bursa dan KSEI, dan bagaimana koordinasi yang telah/akan dilakukan dengan
   Bursa dan KSEI terkait hal tersebut.

    Jawaban:
    Sejak Tanggal Efektif Penggabungan, kedudukan Perseroan sebagai penerbit obligasi beralih demi
    hukum kepada SOFN selaku perusahaan penerima Penggabungan. Sehubungan dengan hal tersebut,
    SOFN akan memenuhi ketentuan administratif yang dipersyaratkan oleh Bursa dan KSEI terkait
    tindak lanjut pencatatan obligasi setelah Tanggal Efektif Penggabungan (apabila ada), termasuk jika
    diperlukan penyesuaian identitas penerbit dalam sistem Bursa dan KSEI. Perseroan dan SOFN akan
    berkoordinasi dengan Bursa dan KSEI untuk memastikan proses administrasi tersebut dilaksanakan
    sesuai ketentuan dan prosedur yang berlaku.

Kondisi Keuangan
6. Berdasarkan laporan keuangan audited tahun 2025, Perseroan membukukan rugi bersih sebesar
   Rp1,91 triliun (dibandingkan laba Rp53,5 miliar pada 2024), terutama akibat penyisihan kerugian
   penurunan nilai aset keuangan sebesar Rp2,67 triliun. Mohon penjelasan mengenai penyebab
   lonjakan signifikan pembentukan cadangan tersebut, termasuk segmen portofolio yang mengalami
   penurunan kualitas.

    Jawaban:
    Pembentukan penyisihan kerugian penurunan nilai aset keuangan Perseroan yang menyebabkan
    kerugian pada laporan keuangan audited tahun 2025 diinisiasi oleh strategi Perseroan untuk
    meningkatkan kualitas aset pembiayaannya sebelum terjadinya penggabungan dengan SOFN.
    Adapun segmen portofolio yang mengalami penurunan kualitas adalah segmen pembiayaan
    kendaraan bermotor roda empat baru tahun 2022-2024 yang meminta restrukturisasi pembayaran,
    namun debitur tersebut tidak mampu menyelesaikan kewajiban pembayarannya.


7. Ekuitas Perseroan menurun dari Rp5,63 triliun (2024) menjadi Rp3,61 triliun (2025), dan terdapat
   saldo defisit sebesar Rp663,4 miliar. Mohon penjelasan dampak penurunan ekuitas ini terhadap
   pemenuhan rasio-rasio keuangan yang dipersyaratkan dalam Perjanjian Perwaliamanatan (antara
   lain gearing ratio) serta ketentuan permodalan OJK, baik sebelum maupun sesudah Penggabungan.

   Jawaban:
   Penurunan ekuitas Peseroan di akhir tahun 2025 tidak berdampak terhadap pemenuhan rasio-rasio
   keuangan yang dipersyaratkan dalam Perjanjian Perwaliamanatan (antara lain gearing ratio) serta
   ketentuan permodalan dan rasio-rasio lainnya yang dipersyaratkan oleh OJK, baik sebelum maupun
   sesudah Penggabungan.

8. Apakah terdapat reviu atau tindakan dari lembaga pemeringkat efek atas peringkat obligasi
   Perseroan sehubungan dengan penurunan kinerja keuangan 2025 dan rencana Penggabungan? Agar
   disampaikan hasil/perkembangan terkini.

   Jawaban:
   Berdasarkan Sertifikat Pemantauan Pemeringkatan yang diterbitkan pada tanggal 3 Februari 2026,
   pemantauan atas peringkat obligasi berkelanjutan Perseroan telah dilakukan dengan
   mempertimbangkan hasil kajian terhadap data dan informasi awal yang telah disampaikan oleh
   Perseroan terkait dengan rencana penggabungan serta kinerja keuangan Perseroan untuk tahun buku
   2025.

Proses dan Keterbukaan Informasi
9. Agar dikonfirmasikan mekanisme penanganan keberatan kreditur, termasuk pemegang obligasi,
   yang disampaikan sampai dengan batas waktu 16 Juli 2026, serta prosedur penyelesaiannya apabila
   keberatan tidak dapat diselesaikan sebelum RUPS/Keputusan Sirkuler tanggal 1 Agustus 2026.

   Jawaban:
   Sehubungan dengan kreditur-kreditur dari masing-masing Perseroan & SOFN berdasarkan
   perjanjian kredit, hanya sebagian kecil yang mensyaratkan untuk memperoleh persetujuan dari
   kreditur. Terhadap kreditur-kreditur tersebut proses permintaan persetujuan telah disampaikan dan
   masing-masing Perseroan serta SOFN telah memperoleh persetujuan dari seluruh kreditur.

   Sedangkan terhadap pemegang obligasi tindakan penggabungan yang dilakukan Perseroan dengan
   SOFN merupakan tindakan yang telah disetujui sebagaimana diatur dalam Perjanjian
   Perwaliamanatan.

10. Mengingat Perseroan merupakan Perusahaan Tercatat untuk efek obligasi, agar dijelaskan
    pemenuhan kewajiban keterbukaan informasi berdasarkan POJK No. 31/POJK.04/2015 tentang
    Keterbukaan atas Informasi atau Fakta Material, termasuk kronologis penyampaian informasi
    rencana Penggabungan kepada OJK Pasar Modal dan Bursa.

   Jawaban:
   Sebagaimana yang telah kami cantumkan pada iklan rencana penggabungan yang telah kami
   publikasikan, penyampaian keterbukaan informasi atas penggabungan usaha yang akan dilakukan
   sebagai berikut:
   1. Pada saat keputusan sirkuler sebagai pengganti RUPS yang menyetujui rencana penggabungan
      memperoleh persetujuan dari seluruh pemegang saham, Perseroan akan menyampaikan laporan
      keterbukaan informasi atau fakta material paling lambat H+1 sebelum pukul 09.00 WIB.
   2. Perseroan akan menyampaikan Laporan keterbukaan informasi atau fakta material atas
      penandatanganan Akta Penggabungan paling lambat H+1 sebelum pukul 09.00 WIB.

11. Dalam jadwal disebutkan permohonan persetujuan OJK untuk tim likuidasi OTO (31 Juli 2026)
    dan RUPS pembentukan Tim Likuidasi (1 September 2026). Agar dijelaskan mengapa diperlukan
    tim likuidasi mengingat penggabungan berlaku demi hukum tanpa likuidasi, serta cakupan tugas
    tim likuidasi tersebut khususnya terkait kewajiban kepada pemegang obligasi.

   Jawaban:
   Perseroan memahami bahwa berdasarkan Pasal 122 ayat (2) Undang-Undang Nomor 40 Tahun
   2007 tentang Perseroan Terbatas Penggabungan mengakibatkan Perseroan yang menggabungkan
   diri berakhir karena hukum tanpa melalui proses likuidasi.

   Adapun Tim Likuidasi dibentuk untuk memenuhi ketentuan POJK yang mewajibkan dilakukannya
   likuidasi sebagai konsekuensi pencabutan izin usaha Perusahaan Yang Menggabungkan Diri.
   Pembentukan Tim Likuidasi tersebut juga telah sesuai dengan arahan OJK Perizinan dan OJK
   Pengawasan Khusus.

Cakupan tugas Tim Likuidasi terbatas pada penyusunan neraca penutupan sehubungan dengan
likuidasi Perseroan. Tim Likuidasi tidak memiliki tugas maupun tanggung jawab terkait pemenuhan
kewajiban kepada pemegang obligasi, karena sejak Tanggal Efektif Penggabungan seluruh hak dan
kewajiban Perseroan, termasuk yang timbul berdasarkan obligasi yang diterbitkannya, telah beralih
demi hukum kepada SOFN sebagai Perusahaan Penerima Penggabungan. Dengan demikian,
seluruh hak dan kewajiban Perseroan terhadap pemegang obligasi selanjutnya akan dilanjutkan dan
dipenuhi oleh SOFN sesuai dengan ketentuan dalam Perjanjian Perwaliamanatan dan peraturan
perundang-undangan yang berlaku.

                            Explanation of PT Oto Multiartha (OTMA)

With reference to the Exchange's letter dated 6 July 2026 regarding the Request for Explanation from
PT Oto Multiartha ("OTMA" or the "Company"), the Company respectfully submits the following
explanation to the Exchange.

Bond Status
1. Considering that the Company will cease to exist by operation of law on the Effective Date of the
   Merger, please provide an explanation regarding the status of all outstanding bonds issued by the
   Company and listed on the Exchange, including the mechanism for the transfer of the Company's
   capacity as the bond issuer to PT Summit Oto Finance ("SOFN"), as the surviving entity following
   the merger.
   Response:
   As of the date of this explanation, the Company's outstanding bonds listed on the Exchange (the
   "OTMA Bonds") are as follows:
    a) OTO Multiartha Continuous Bond I Phase I Year 2023: (i) Series A: IDR 315.00 billion,
       maturing on 7 July 2026; and (ii) Series B: IDR 185.00 billion, maturing on 7 July 2028;
    b) OTO Multiartha Continuous Bond I Phase II Year 2024 (i) Series B IDR 114.705 billion,
       maturing on 4 September 2027; and (ii) Series C IDR 330.02 billion, maturing on 4 September
       2029;
    c) OTO Multiartha Continuous Bond I Phase III Year 2025 (i) Series B IDR 29.50 billion, maturing
       on 27 March 2028; and (ii) Series C IDR 332.20 billion, maturing on 27 March 2030; and
    d) OTO Multiartha Continuous Bond I Phase IV Year 2025 (i) Series A IDR 300.00 billion,
       maturing on 18 June 2028; and (ii) Series B IDR 700.00 billion, maturing on 18 June 2030.
   Upon the Effective Date of the Merger, and pursuant to the applicable laws and regulations, all rights
   and obligations arising under the OTMA Bonds, including all payment obligations thereunder, shall
   be transferred by operation of law to SOFN as the surviving entity in the merger. Consequently,
   SOFN shall succeed to and assume all rights, obligations, and liabilities of the Company in relation
   to the OTMA Bonds, and shall thereafter act as the issuer responsible for fulfilling all obligations
   thereunder.

2. Do the provisions of the Trust Deed for each series of the Company's bonds require the approval of
   a Bondholders' General Meeting (RUPO) and/or the Trustee in connection with the proposed Merger?
   If so, please provide the schedule for the RUPO and the status of such approval.

   Response:
   The Trust Deed for each series of the Company's bonds does not require the approval of a
   Bondholders' General Meeting (RUPO) or the Trustee in connection with the proposed Merger.
   The merger between the Company and PT Summit Oto Finance (SOFN) has been duly approved.
   Therefore, under the terms of the relevant Trust Deeds, the Company is not required to convene a
   Bondholders' General Meeting (RUPO).

3. Does the proposed Merger have the potential to trigger an event of default, negative covenant, or an
   early redemption obligation under the Trust Deeds governing the Company's bonds? If so, please
   explain the mitigating measures.
   Response:
   The proposed Merger will not trigger any event of default, negative covenant, or early redemption
   obligation under the Trust Deeds governing the Company's bonds. The merger between the Company
   and PT Summit Oto Finance (SOFN) is an exempted transaction as expressly provided for under the
   relevant Trust Deeds. Therefore, the proposed Merger does not give rise to any event of default,
   breach of covenant, or obligation for early redemption under the terms of the Trust Deeds.

4. Will there be any change to the name of the bonds? Please explain.
   Response:
   The Merger will not change the identity or characteristics of each series of bonds that have been
   issued. Accordingly, there will be no change to the name of the bonds as a result of the Merger.

5. Please confirm whether all obligations relating to the payment of interest (coupons) and principal of
   the Company's bonds will continue to be fulfilled in a timely manner during the Merger process and
   after the Effective Date of the Merger. Please also specify the party that will be responsible for such
   payments following the transfer.
   Response:
   The Company commit and will make sure that all obligations relating to the payment of interest
   (coupons) and principal of the Company's bonds will continue to be fulfilled in a timely manner in
   accordance with the applicable payment schedule, both during the Merger process and after the
   Effective Date of the Merger. As of the Effective Date of the Merger, responsibility for fulfilling all
   such payment obligations will automatically transfer by operation of law to PT Summit Oto Finance
   (SOFN) as the surviving company in the Merger.

6. Please explain the proposed follow-up actions regarding the listing of the Company's bonds on the
   Exchange after the Effective Date of the Merger, including whether the issuer's name will be changed
   in the Exchange's and KSEI's listing systems, and describe the coordination that has been or will be
   carried out with the Exchange and KSEI in this regard.
   Response:
   As of the Effective Date of the Merger, the Company's position as the issuer of the bonds will
   automatically transfer by operation of law to PT Summit Oto Finance (SOFN) as the surviving
   company in the Merger. Accordingly, SOFN will comply with all administrative requirements of the
   Exchange and KSEI relating to the continued listing of the bonds after the Effective Date of the
   Merger, if any, including any required updates to the issuer's information in the Exchange's and
   KSEI's systems. The Company and SOFN will coordinate with the Exchange and KSEI to ensure
   that all necessary administrative processes are carried out in accordance with the applicable laws,
   regulations, and procedures.

Financial Condition
7. Based on the Company's audited financial statements for 2025, the Company recorded a net loss of
   IDR 1.91 trillion (compared to a net profit of IDR 53.5 billion in 2024), mainly due to an allowance
   for impairment losses on financial assets amounting to IDR 2.67 trillion. Please explain the reason
   for the significant increase in the impairment allowance, including the portfolio segments that
   experienced a decline in credit quality.


   Response:
   The increase in the allowance for impairment losses on the Company's financial assets, which
   resulted in the net loss reported in the 2025 audited financial statements, was part of the Company's
   strategy to improve the quality of its financing assets prior to the merger with PT Summit Oto Finance
   (SOFN). The portfolio segment that experienced a decline in credit quality was the financing of new
   four-wheel motor vehicles originated between 2022 and 2024. These customers applied for loan
   restructuring; however, they were ultimately unable to fulfill their repayment obligations.

8. The Company's equity decreased from IDR 5.63 trillion in 2024 to IDR 3.61 trillion in 2025, and the
   Company recorded an accumulated deficit of IDR 663.4 billion. Please explain the impact of this
   decrease in equity on the Company's compliance with the financial ratios required under the Trust
   Deeds (including the gearing ratio) and the capital requirements imposed by the Financial Services
   Authority (OJK), both before and after the Merger.
   Response:
   The decrease in the Company's equity at the end of 2025 did not affect the Company's compliance
   with the financial ratios required under the Trust Deeds, including the gearing ratio, or with the capital

    requirements and other financial ratios required by the Financial Services Authority (OJK), either
    before or after the Merger.

 9. Has any review or action been taken by the credit rating agency regarding the rating of the Company's
    bonds in light of the decline in the Company's 2025 financial performance and the proposed Merger?
    Please provide the latest update or outcome.

    Response:
     Based on the Rating Surveillance Certificate issued on 3 February 2026, the monitoring of the rating
     of the Company's continuous bonds has been conducted after considering the preliminary
     information and data provided by the Company regarding the proposed Merger, as well as the
     Company's financial performance for the 2025 financial year.

Process and Information Disclosure
10. Please confirm the mechanism for handling objections from creditors, including bondholders,
    submitted up to the deadline of 16 July 2026, as well as the procedure for resolving such objections
    if they cannot be settled before the General Meeting of Shareholders (GMS)/Circular Resolution on
    1 August 2026.

    Response:
    With respect to the creditors of the Company and PT Summit Oto Finance (SOFN) under their
    respective credit agreements, only a limited number of creditors require prior consent for the
    proposed Merger. Requests for such consent have been submitted, and both the Company and SOFN
    have obtained approval from all of the relevant creditors. With respect to the bondholders, the merger
    between the Company and SOFN is a transaction that has already been approved under the provisions
    of the relevant Trust Deeds. Accordingly, no further approval from the bondholders is required.

11. Considering that the Company is a listed company in relation to its listed bonds, please explain how
    the Company has complied with the information disclosure requirements under OJK Regulation No.
    31/POJK.04/2015 on Disclosure of Material Information or Facts, including the timeline for
    submitting information regarding the proposed Merger to the Capital Market Supervisory Authority
    of OJK and the Exchange.

    Response:
    As stated in the announcement of the proposed Merger published by the Company, the disclosure of
    material information regarding the proposed Merger will be made as follows:
     1. Once the Circular Resolution in lieu of a General Meeting of Shareholders approving the
         proposed Merger has been approved by all shareholders, the Company will submit a disclosure
         of material information or facts no later than one business day (H+1) after such approval and
         before 9:00 a.m. (WIB).
     2. The Company will submit a disclosure of material information or facts regarding the execution
        of the Merger Deed no later than one business day (H+1) after the signing of the Merger Deed
        and before 9:00 a.m. (WIB).

12. The timetable indicates that the application for OJK approval of OTO's Liquidation Team will be
    submitted on 31 July 2026, and that the General Meeting of Shareholders for the establishment of the
    Liquidation Team will be held on 1 September 2026. Please explain why a Liquidation Team is
    required, considering that a merger takes effect by operation of law without liquidation, and describe
    the scope of the Liquidation Team's duties, particularly in relation to the Company's obligations to
    bondholders.

    Response:

    The Company understands that, pursuant to Article 122 paragraph (2) of Law No. 40 of 2007 on
    Limited Liability Companies, a merger results in the dissolving company being dissolved by
    operation of law without undergoing a liquidation process. The Liquidation Team is established

solely to comply with the applicable OJK regulations, which require a liquidation process as a
consequence of the revocation of the business license of the merging company. The establishment of
the Liquidation Team is also in accordance with the guidance provided by OJK's Licensing Division
and Special Supervision Division. The scope of the Liquidation Team's duties is limited to the
preparation of the Company's closing balance sheet in connection with its liquidation. The
Liquidation Team has no duties or responsibilities with respect to the Company's obligations to
bondholders. As of the Effective Date of the Merger, all rights and obligations of the Company,
including those arising from the bonds it has issued, will automatically transfer by operation of law
to PT Summit Oto Finance (SOFN) as the surviving company. Accordingly, all rights and obligations
of the Company toward the bondholders will thereafter be assumed and fulfilled by SOFN in
accordance with the relevant Trust Deeds and the applicable laws and regulations.