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Page 1
  DISCLOSURE OF INFORMATION TO SHAREHOLDERS IN COMPLIANCE WITH FINANCIAL
   SERVICES AUTHORITY REGULATION NO.42/POJK.04/2020 REGARDING AFFILIATED
             TRANSACTIONS AND CONFLICT OF INTEREST TRANSACTIONS
                              (“POJK 42/2020”)


If there any difficulties in understanding this information disclosure or uncertain about making
decisions, it is advisable to consult with a securities broker, investment manager, legal consultant,
accountant, or other professional advisor.




                          PT STEEL PIPE INDUSTRY OF INDONESIA TBK
                                       (“the Company”)
                                     Domiciled in Surabaya

                                       Business Activities
                                    Steel Pipe Manufacturing


                                         Head Office
                          Jl. Kalibutuh 189 – 191, Surabaya 60173
                                    Jawa Timur - Indonesia
            Telepon/Phone : +6231 532 0921, 532 0320, Faks/Fax : +6231 531 0712
                            Situs web/Website: www.spindo.com
                              Surel/Email: corsec@spindo.co.id



The Board of Commissioners and Directors of the Company declare the completeness of the
information as disclosed in this disclosure and, after conducting a thorough examination, confirms
that the information contained in this disclosure is true, without any material and relevant facts that
have not been disclosed or omitted, which would render the information provided in this disclosure
inaccurate and/or misleading.




The Board of Directors of the Company, both individually and collectively, declares that this affiliated
transaction has undergone adequate procedures to ensure that the affiliated transaction is carried
out in accordance with business practices in general.


                    This Information Disclosrure is issued in Surabaya on 30 June 2026




                                                    1
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DEFINISI

  Affiliations              :   Has the meaning as regulated under Article 1 of Law No. 8 of 1995 concerning
                                the Capital Market, as most recently amended by Law No. 4 of 2023 concerning
                                the Development and Strengthening of the Financial Sector, in conjunction with
                                POJK 42/2020, namely:
                                a. Family relationships by marriage and by blood up to the second degree, both
                                horizontally and vertically, namely the relationship of a person with:
                                1. a spouse;
                                2. the parents of a spouse and the spouse of a child;
                                3. the grandparents of a spouse and the spouse of a grandchild;
                                4. the siblings of a spouse and their respective spouses; or
                                5. the spouse and siblings of the person concerned.
                                b. Family relationships by blood up to the second degree, both horizontally and
                                vertically, namely the relationship of a person with:
                                1. parents and children;
                                2. grandparents and grandchildren; or
                                3. siblings of the person concerned.
                                c. The relationship between a party and its employees, directors, or
                                commissioners;
                                d. The relationship between two or more companies in which there are one or
                                more members of the board of directors, management, board of
                                commissioners, or supervisory board in common;
                                e. The relationship between a company and a party which, directly or indirectly,
                                in any manner, controls or is controlled by the company or such party in
                                determining the management and/or policies of the company or party
                                concerned;
                                f. The relationship between two or more companies that are controlled, directly
                                or indirectly, in any manner, in determining the management and/or policies of
                                the company by the same party; or
                                g. The relationship between a company and a major shareholder, namely a party
                                that directly or indirectly holds at least 20% of the voting shares of the company.


  Conflict of Interest      :   Means as defined under Article 1 point (4) of POJK 42/2020.


  KJPP Felix Sutandar dan   :   Kantor Jasa Penilai Publik Felix Sutandar dan Rekan as an independent appraiser,
  Rekan                         registered with the Financial Services Authority of the Republic of Indonesia,
                                appointed by the Company to conduct an appraisal of fair value and/or
                                reasonableness of the Transaction.
  PT Sarana Steel           :   PT Sarana Steel is a steel manufacturing company established in 1973. It is
                                headquartered in Jakarta and operates three manufacturing facilities located in
                                Ancol, Pulogadung, and Karawang. The company currently serves as a supplier
                                and manufacturer of steel materials while also providing high-quality, innovative,
                                and reliable steel cutting services.
  Perseroan                 :   PT Steel Pipe Industry of Indonesia Tbk, a steel pipe manufacturing company
                                established in 1971, operating seven manufacturing plants located in East Java
                                and Karawang.
  Properti                  :   The land is located in Jalan Mitra Barat I, Blok F 16, Kawasan Industri Mitra
                                Karawang (KIM), Desa Parungmulya, Kecamatan Ciampel, Kabupaten Karawang,
                                Provinsi Jawa Barat.


  Controlled Companies      :   It has the meaning as defined in POJK 42/2020, which is companies that are
                                controlled either directly or indirectly by a publicly listed companies.



                                                      2
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POJK 42/2020              :   Regulation of The Financial Services Authority of The Republic of Indonesia
                              Number 42/POJK.04/2020 Of 2020 On Affiliated Transactions and Conflict-of-
                              Interest Transactions
Affiliation Transaction       Transaction as defined under OJK Regulation No. 42/POJK.04/2020, namely any
                              activity and/or transaction conducted by a public company or its Controlled
                              Company with an Affiliate of such public company, or an Affiliate of any member
                              of the board of directors, board of commissioners, major shareholder, or
                              controller, including any activity and/or transaction conducted by a public
                              company or its Controlled Company for the benefit of an Affiliate of such public
                              company or an Affiliate of any member of the board of directors, board of
                              commissioners, major shareholder, controlling shareholder.




                                                   3
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 I.    INTRODUCTION

       This Disclosure of Information is prepared to comply with the provisions of POJK 42/2020, which require the
       Company to disclose information in relation to an Affiliated Transaction.

       This Disclosure of Information contains information regarding the transaction undertaken by the Company,
       namely the acquisition of five parcels of land with a total area of 20,800 square meters, located at Jalan Mitra
       Barat I, Block F16, Mitra Karawang Industrial Estate (KIM), Parungmulya Village, Ciampel District, Karawang
       Regency, West Java Province.

       The completion of the Transaction is evidenced by the fulfillment of the obligations agreed upon by the parties
       under the Conditional Sale and Purchase Binding Agreement (Conditional PPJB), including, among others, the
       issuance of a Fairness Opinion by the Public Appraisal Services Office (KJPP) and the full settlement of the
       purchase price for the transaction object by the prospective purchaser.

       This Disclosure of Information is prepared in compliance with POJK 42/2020, which requires the Company to
       disclose any Affiliated Transaction undertaken by the Company. Accordingly, the Company is required to
       announce this Affiliated Transaction to the public no later than the end of the second business day following
       the occurrence of the Affiliated Transaction.


II.    INFORMATION REGARDING THE AFFILIATED TRANSACTION

       A. Background, Rationale, and Benefits

      In line with developments in the industry, customer demand has increasingly shifted downstream. Whereas
      previously customers only required the supply of cut steel pipes, many customers now request additional
      processing services such as expanding, swedging, bending, and machining (semi-part manufacturing). These
      additional processes are intended to reduce customers' production processes, lower inventory levels, and
      improve cost efficiency.

      Furthermore, many customers have adopted lower inventory levels, resulting in increasingly stringent
      requirements for timely product delivery.

      These requirements can only be met by maintaining adequate inventory levels and ensuring efficient product
      loading, both of which require sufficient warehouse space so that finished goods inventory can be centralized
      rather than dispersed across multiple locations.

      Accordingly, SPINDO intends to acquire land located at Jalan Mitra Barat I, Block F16, Mitra Karawang Industrial
      Estate, Parungmulya Village, Ciampel District, Karawang Regency, West Java Province. The land is directly
      adjacent to SPINDO Unit V Karawang, thereby enabling the Company to streamline the transfer of finished
      products from the production area to the warehouse. In addition, the site provides sufficient space to support
      the Company's operational requirements for expanding, swedging, bending, and machining (semi-part
      manufacturing).


       B. Transaction Object and Value

      The object of the Affiliated Transaction is the acquisition of five parcels of land with a total area of 20,800
      square meters, located at:
      Jalan Mitra Barat I, Block F16, Mitra Karawang Industrial Estate (KIM), Parungmulya Village, Ciampel District,
      Karawang Regency, West Java Province.
      The total transaction value is Rp47,840,000,000 (forty-seven billion eight hundred forty million Rupiah).

       C.   Para Pihak yang Terlibat dalam Transaksi Afiliasi dan Sifat Hubungan Afiliasi

       The parties to the Transaction are the Company and PT Sarana Steel.

                                                               4
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The nature of the affiliated relationship between the parties is described in Section C.3 of this Disclosure of
Information.

   1. The Company
      Brief History
      PT Steel Pipe Industry of Indonesia Tbk was established on 30 January 1971 pursuant to Deed No. 109
      drawn up before Djojo Muljadi, S.H., Notary in Jakarta.

      The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia
      pursuant to Decree No. J.A.5/213/10 dated 30 December 1971, and was published in State Gazette No.
      42 dated 26 May 1972, Supplement No. 196.

      The Company's Articles of Association have been amended several times, most recently pursuant to
      Notarial Deed No. 41 dated 28 June 2024 of Gatot Widodo, S.E., S.H., M.Kn., concerning the resolutions
      of the General Meeting of Shareholders relating to changes in the composition of the Board of Directors
      and Board of Commissioners and the amendment to Article 17 paragraph (5) of the Company's Articles
      of Association.

      The amendment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia
      pursuant to Decree Nos. AHU-AH.01.09-0220715 and AHU-0039196.AH.01.02 of 2024, dated 2 July
      2024.

      Business Activities
      Pursuant to Article 3 of the Company's Articles of Association, the Company's purposes, objectives, and
      business activities are to engage in the industrial and trading sectors, specifically in the steel pipe
      manufacturing industry.

      Shareholding Structure
      The Company's shareholders as of 31 December 2025, based on the Register of Shareholders maintained
      by PT Adimitra Jasa Korpora as the Securities Administration Bureau, are as follows:

                                                                 Nominal Value per Share Rp100,-

                                                 Number                   Nominal Value            Percentage
                                                 of Shares                    (Rp)                   (%)
         Shareholder

            PT Cakra Bhakti Para Putra             4.140.948.530            414.094.853.000        57,63
            DBS Bank Ltd                             488.410.800             48.841.080.000        6,80
            Ahli Waris Alm The Tjahjono              126.436.750             12.643.675.000        1,76
            Tedjo Koesoemo
            Pandu Lokiswara Salam                     23.053.705              2.305.370.500        0,32
            Public (each holding less than 5%)     2.272.628.650            227.262.865.000        31,63
            Sub Total                              7.051.478.435            705.147.843.500        98,13
            Treasury Shares                          134.513.600             13.451.360.000         1,87
         Total Issued and Paid-up                  7.185.992.035            718.599.203.500        100,00
         Capital

      Board of Commissioners and Board of Directors
      Based on Notarial Deed No. 41 dated 28 June 2024, the composition of the Company's Board of
      Commissioners and Board of Directors is as follows:

      Board of Commissioners
        President Commissioner            : Makmur Widjaja
        Commissioner                      : Entario Widjaja Susanto
        Independent Commissioner          : Bing Hartono Poernomosidi
        Independent Commissioner          : Welly Tantono
                                                             5
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     Board of Directors
     President Director            : Ibnu Susanto
     Vice President Director       : Tedja Sukmana Hudianto
     Director                      : Soediarto Soerjoprahono
     Director                      : The, Hanny Purnomo
     Director                      : Nico Gunawan

2. Sarana Steel
    Brief History
   PT Sarana Steel ("SS"), originally established under the name PT Sarana Steel Corporation, was
   incorporated on 30 January 1973 pursuant to Notarial Deed No. 43 of Hobropoerwanto, as
   subsequently amended by Notarial Deed No. 23 dated 11 April 1973 before the same Notary.

   The deed of establishment was approved by the Minister of Justice on 21 March 1974 pursuant to
   Decree No. Y.A.5/100/17.

   Business Overview
   Based on its business licenses, PT Sarana Steel engages in holding company activities, namely a
   company that owns the assets of a group of subsidiary companies, with its principal activity being the
   ownership and management of such corporate group.

   Licenses
   PT Sarana Steel has obtained, among others, the following licenses:

   a. Business Identification Number (Nomor Induk Berusaha/NIB) No. 8120006772971, issued by the OSS
        Institution of the Government of the Republic of Indonesia on 27 July 2018.

   b. Taxpayer Identification Number (NPWP) No. 01.001.920.6-073.00

   Shareholding Structure
   The shareholding composition of PT Sarana Steel as of 31 Desember 2025 is as follows:


                                         Number                 Nominal Value              Percentage(%
                                         of Shares                  (Rp)                     )
     Shareholder

        Entario Widjaja Susanto                      27.160        13.580.000.000          67,90
        Soediarto Soerjoprahono                      12.640         6.320.000.000          31,60
        Agus Tjahjono                                   200           100.000.000          0,50
     Total                                           40.000        20.000.000.000          100,00


   Board of Commissioners and Board of Directors
   As of 31 December 2025, the composition of the Board of Commissioners and Board of Directors of PT
   Sarana Steel is as follows:

   Board of Commissioners
     President Commissioner        : Handaja Susanto
     Commissioner                  : Endang Fifi Susanto

     Board of Directors
     President Director            : Ibnu Susanto
     Director                      : Soediarto Soerjoprahono
     Director                      : Entario Widjaja Susanto
     Director                      : Sofian Surya

                                                      6
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         3. Nature of the Affiliated Relationship

            The Company's acquisition of the Property will be conducted with an affiliated party based on the
            following affiliated relationships:


                                                    SPINDO                Sarana Steel
                            Name
                 Entario Widjaja Susanto            Commissioner      Shareholder of 67,90%
                                                                           dan Director

                 Soediarto Soerjoprahono              Director and    Shareholder of 31,60%
                                                        indirect           dan Director
                                                     shareholder of
                                                    8.35% through
                                                          CBPP
                 Ibnu Susanto                           Indirect        President Director
                                                     shareholder of
                                                    24.50% through
                                                          CBPP

            Based on the foregoing, it can be concluded that the proposed transaction between SPINDO and PT
            Sarana Steel constitutes an Affiliated Transaction as defined under POJK No. 42/POJK.04/2020.

            However, based on the Management Representation Letter issued by SPINDO, the proposed
            transaction does not constitute a Conflict of Interest Transaction.

III.   SUMMARY OF THE INDEPENDENT APPRAISER'S REPORT

       The Company appointed KJPP Felix Sutandar and Rekan as the Independent Appraiser pursuant to the Decree of
       the Minister of Finance of the Republic of Indonesia No. 1314/KM.1/2009 dated 23 November 2009, License No.
       2.09.0072, domiciled in Jakarta.
       Based on the engagement requested by the Board of Directors of PT Steel Pipe Industry of Indonesia Tbk through
       Engagement Agreement No. 0301/FSR/Spn/FS/0204/2026 dated 2 April 2026, which was approved by the
       Company's Management on 13 May 2026, KJPP Felix Sutandar and Rekan was engaged to conduct a valuation of
       the Property.
       The following is a summary of the Property Valuation Report No. 00423/2.0072-00/PI/04/0022/1/VI/2026 dated 19
       June 2026.

       A. Purpose and Objective of the Engagement
       In accordance with the approved Engagement Agreement, the purpose of the valuation is to provide an opinion
       regarding the Market Value of the Property for the purpose of the proposed acquisition transaction.
       Accordingly, the valuation may not be used for debt collateral, auction purposes, or any other purpose.

       B. Assumptions and Limiting Conditions
       The assumptions and limiting conditions adopted by the Property Appraiser include the following:
       • The valuation report constitutes a non-disclaimer opinion.
       • The Property Appraiser has reviewed all documents used in the valuation process.
       • The data and information utilized were obtained from, or validated by, recognized appraisal professional
           associations.
       • The Property Appraiser is responsible for conducting the valuation and for the reasonableness of its
           conclusions.
       • Where the property being valued is commercial property and financial projections have been provided by the
           Company, the Property Appraiser has reviewed and utilized such projections.
       • The valuation report may be disclosed publicly except for confidential information that could affect the
           Company's operations.
       • The Property Appraiser is responsible for the valuation report and the final value conclusion.

                                                               7
Page 8
       •   The Property Appraiser has reviewed the legal status of the valuation object.
       •   The valuation report has been prepared in accordance with the Indonesian Valuation Code of Ethics (KEPI), the
           Indonesian Valuation Standards (SPI, Seventh Edition 2018 and Revised SPI 300, SPI 310, SPI 320, and SPI 330),
           OJK Regulation No. 28/POJK.04/2021, and OJK Circular Letter No. 33/SEOJK.04/2021.
       •   This report may only be used for the purposes stated herein. The Property Appraiser accepts no responsibility
           if the report is used for any other purpose.
       •   The report shall be valid only after being signed by the Managing Partner or Partner of KJPP Felix Sutandar and
           Rekan and affixed with the firm's corporate seal.

       C. General and Specific Assumptions
        • Ownership rights over the Property are assumed to be supported by valid legal documents that are true,
            accurate, and consistent with the originals, and have not been amended or transferred.
        • The Property presented by the Client and/or prospective creditor and/or their representatives is assumed to
            be the actual property subject to valuation. The Appraiser shall not be responsible if the asset presented
            differs from the asset specified in the engagement or from the copies of documents received.
        • The Property is assumed to be free from disputes, environmental contamination, or any environmental
            liabilities.
        • If the Client provides inaccurate information or incorrectly identifies the location of the Property (including
            through its personnel or representatives), the Appraiser shall not be responsible for any inaccurate valuation
            resulting therefrom.
        • Where any portion of the Property cannot be physically inspected and the Appraiser must rely upon
            information provided by the Client, such information constitutes a specific assumption, and its accuracy is
            assumed to be reasonable and correct.

       D. Subject Property
       The property being valued consists of vacant land owned by PT Sarana Steel, having a total area of 20,800 square
       meters, located at:
       Jalan Mitra Barat I, Block F16, Mitra Karawang Industrial Estate (KIM), Parungmulya Village, Ciampel District,
       Karawang Regency, West Java Province.

       E. Property Inspection
       A physical inspection of the Property was conducted on 19 May 2026.

       F. Valuation Date
       The valuation date was determined to be 31 December 2025, having regard to the purpose and objective of the
       valuation.

       G. Valuation Approach
       The valuation was conducted using the Market Approach, whereby the Property was compared with comparable
       and similar assets for which transaction prices or market offerings were available.
       Under this approach, the Market Data Comparison Method was applied by analyzing transaction data and market
       offerings involving comparable properties in order to derive an indication of market value.

       H. Valuation Conclusion
       Based on the valuation conducted by KJPP Felix Sutandar and Rekan, the Market Value of the Property as of 31
       December 2025 was determined to be Rp50,366,000,000.

IV.   SUMMARY OF THE INDEPENDENT APPRAISER’S FAIRNESS OPINION

      The Company appointed KJPP Felix Sutandar and Rekan as the Independent Appraiser, a registered Public
      Appraisal Services Office established pursuant to the Decree of the Minister of Finance of the Republic of
      Indonesia No. 1314/KM.1/2009 dated 23 November 2009, holding License No. 2.09.0072, with its office in
      Jakarta, to provide a Fairness Opinion on the proposed Transaction.

      The appointment was made pursuant to Engagement Letter No. 0302/FSR/Spn/FS/0204/2026 dated 2 April
      2026, which was approved by the Company's Management.


                                                             8
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     The following is a summary of the Fairness Opinion Report No. 00428/2.0072-00/BS/04/0022/1/VI/2026
     dated 25 June 2026.

1.    Parties to the Transaction

     The parties involved in the Transaction are:

     •    PT Steel Pipe Industry of Indonesia Tbk; and

     •    PT Sarana Steel.

     2. Subject of the Fairness Analysis

     The subject of the Fairness Opinion is the proposed acquisition of land located at Mitra Karawang
     Industrial Estate (KIM), Jalan Mitra Barat I, Block F No. 16, Parung Mulya Village, Ciampel District,
     Karawang Regency 41358, with a total land area of 20,800 square meters, consisting of:

     Certificate                                               Area

     SHGB NIB No. 10.06.000042424.0                            698 m²

     SHGB NIB No. 10.06.000042425.0                            102 m²

     SHGB NIB No. 10.06.000042426.0                            330 m²

     SHGB NIB No. 10.06.000042427.0                            15,300 m²

     SHGB NIB No. 10.06.000065455.0                            4,370 m²

     The details of the land certificates will be further specified in the Sale and Purchase Binding Agreement
     (Perjanjian Ikatan Jual Beli – "IJB") and/or the Deed of Sale and Purchase (Akta Jual Beli – "AJB") to be
     executed before a Notary/Land Deed Official (PPAT).

     3. Purpose of the Fairness Opinion

     This report is intended to provide a Fairness Opinion regarding the proposed Transaction.

     The Fairness Opinion has been prepared in accordance with the engagement accepted by the Independent
     Appraiser and is intended to serve as one of the supporting documents for the Company's disclosure of
     information pursuant to POJK No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflict of
     Interest Transactions.

     4. Assumptions and Limiting Conditions

     Without limiting the responsibilities of the Independent Appraiser, the Fairness Opinion is subject to the
     following assumptions and limiting conditions:

     1.   The Fairness Opinion constitutes a non-disclaimer opinion.

     2.   The Business Appraiser has reviewed all documents used in the valuation process.

     3.   The data and information used were obtained from sources considered reliable and accurate.

     4.   The financial projections used have been adjusted and are considered to reasonably reflect the
          financial projections prepared by management and their achievability.

                                                         9
Page 10
          5.   The Business Appraiser is responsible for the valuation procedures and the reasonableness of the
               financial projections.

          6.   This Fairness Opinion Report may be disclosed to the public, except for confidential information that
               could affect the Company's operations.

          7.   The Business Appraiser is responsible for the Fairness Opinion Report and its final conclusion.

          8.   The Business Appraiser has obtained information regarding the legal status of the transaction object
               from the engaging party.

          5. Valuation Approaches and Methodology

          In evaluating the fairness of the proposed Transaction, KJPP Felix Sutandar and Rekan performed analyses
          based on the following approaches and procedures:

          1.   Transaction analysis;

          2.   Qualitative and quantitative analysis of the proposed Transaction;

          3.   Analysis of the fairness of the transaction value; and

          4.   Analysis of other relevant factors.

          6. Analysis of the Fairness of the Transaction Value

          Based on the valuation conducted by KJPP Felix Sutandar and Rekan, the Market Value of the Property is
          Rp50,336,000,000, while the total proposed transaction value amounts to Rp47,840,000,000,
          representing a purchase price 4.96% below the Market Value.

          Accordingly, the difference remains within the acceptable upper and lower limits of 7.5%, and therefore
          falls within a reasonable range of value.



          7. Fairness Opinion

          Based on the fairness analysis of the proposed Transaction as described in the report, KJPP Felix Sutandar
          and Rekan is of the opinion that the proposed acquisition of the Property by PT Steel Pipe Industry of
          Indonesia Tbk is fair.

         .
V.   EXPLANATIONS, CONSIDERATIONS, AND REASONS FOR UNDERTAKING THE AFFILIATED TRANSACTION AS
     COMPARED WITH AN EQUIVALENT TRANSACTION WITH A NON-AFFILIATED PARTY

     Based on information obtained from the Company's Management, the decision-making process for the
     acquisition of the Property was carried out in accordance with the Company's internal procedures, namely
     through the approval of the Board of Directors with the consent of the Board of Commissioners.

     An alternative available to the Company would have been to acquire land from an unrelated third party.
     However, the Company decided to proceed with the proposed acquisition based on the following
     considerations:

     The land area meets the Company's operational requirements.
     The Property is directly adjacent to SPINDO Unit V Karawang, providing significant operational advantages.



                                                             10
Page 11
VI.     PERNYATAAN DEWAN KOMISARIS DAN DIREKSI

        The Board of Commissioners and the Board of Directors hereby declare that:

        1.   The Transaction constitutes an Affiliated Transaction but does not constitute a Conflict of Interest Transaction as
             defined under POJK 42/2020, and does not constitute a Material Transaction as defined under POJK No.
             17/POJK.04/2020.
        2.   All material and relevant facts relating to the Transaction have been disclosed in this Disclosure of Information,
             and therefore no misleading information has been omitted.
        3.   The Transaction has complied with the procedures stipulated under Article 3 of POJK 42/2020 and has been
             conducted in accordance with generally accepted business practices.


VII.    ADDITIONAL INFORMATION

       Shareholders requiring further information regarding the Transaction may contact the Company at:

                                       PT STEEL PIPE INDUSTRY OF INDONESIA Tbk

                                                      Head Office
                                       Jl. Kalibutuh 189 – 191, Surabaya 60173
                                                 Jawa Timur - Indonesia
                         Telepon/Phone : +6231 532 0921, 532 0320, Faks/Fax : +6231 531 0712
                                         Situs web/Website: www.spindo.com
                                           Surel/Email: corsec@spindo.co.id


                                                  Surabaya, 30 June 2026
                                                    Board of Directors




                                                                 11

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Published30 Jun 2026
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linked org PT Sarana Steel p.2 ×24
linked person Makmur Widjaja p.5
linked person Entario Widjaja Susanto p.5 ×4
linked person Bing Hartono Poernomosidi p.5
linked person Welly Tantono p.5
linked person Ibnu Susanto p.6 ×3
linked person Tedja Sukmana Hudianto p.6
linked person Soediarto Soerjoprahono p.6 ×4
linked person The, Hanny Purnomo p.6
linked person Nico Gunawan p.6
linked person Endang Fifi Susanto p.6
possible person Gatot Widodo p.5
possible org PT Cakra Bhakti Para Putra p.5
possible org DBS Bank Ltd p.5
possible person Handaja Susanto p.6
unresolved org FINANCIAL SERVICES AUTHORITY p.1 ×3
unresolved org KJPP Felix Sutandar p.2 ×9
unresolved org Kantor Jasa Penilai Publik Felix Sutandar dan Rekan p.2
unresolved org Kantor Jasa Penilai Publik Felix Sutandar p.2
unresolved org PT Steel Pipe Industry p.2 ×5
unresolved org Indonesia Tbk p.2 ×5
unresolved person Djojo Muljadi · Notaris p.5
unresolved org Minister of Justice p.5 ×2
unresolved org Ministry of Law and Human Rights p.5
unresolved org PT Adimitra Jasa Korpora p.5
unresolved org PT Sarana Steel Corporation p.6
unresolved org Government of the Republic of Indonesia p.6
unresolved org Minister of Finance p.7 ×2
unresolved person H. Valuation Conclusion Based p.8

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