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CHANGE AND/OR ADDITION OF INFORMATION DISCLOSURE TO SHAREHOLDERS ON THE
PLAN TO ADD BUSINESS ACTIVITIES OF PT MERCK TBK
PT MERCK TBK
(the "Company”)
Domiciled in East Jakarta
Business Field: Pharmaceutical Industry, Wholesale and Import of Medical Devices
Head Office:
Jl. TB Simatupang No. 8, Pasar Rebo, Jakarta Timur 13760, Indonesia
Contact:
Corporate Secretary
PT Merck Tbk
Phone: 021 28565600
Email: contact.id@merckgroup.com
THE INFORMATION AS STATED IN THIS INFORMATION DISCLOSURE IS IMPORTANT FOR THE
COMPANY'S SHAREHOLDERS TO READ AND PAY ATTENTION TO.
UNTIL THE DATE OF CHANGE AND/OR ADDITION OF INFORMATION DISCLOSURE, THE COMPANY
DOES NOT ACCEPT INFORMATION REGARDING OBJECTIONS FROM CERTAIN PARTIES RELATED TO
THE ADDITION OF BUSINESS ACTIVITIES.
THIS INFORMATION DISCLOSURE IS IN ORDER TO COMPLY WITH THE FINANCIAL SERVICES
AUTHORITY REGULATION NO.17/POJK.04/2020 CONCERNING MATERIAL TRANSACTIONS AND
CHANGES IN BUSINESS ACTIVITIES.
This Information Disclosure is published in Jakarta on March 20, 2025
(This information is a correction and/or addition to the Information Disclosure that has been
announced on the Indonesia Stock Exchange website and the Company's website
on February 13, 2025.)
Evie Yulin Bambang Nurcahyo
President Director Director
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I. INTRODUCTION
This Information Disclosure ("KI") is made to comply with the provisions of POJK No.17/2020 which
requires the Company to announce the Disclosure of Information regarding the plan to add business
fields for shareholders from the time of the announcement of the Extraordinary General Meeting of
Shareholders ("EGMS") and submit this Information Disclosure at the time of the announcement of the
EGMS.
II. BRIEF DESCRIPTION OF THE COMPANY
Brief History
PT Merck Tbk, located in Indonesia at Jl. TB Simatupang No. 8, Pasar Rebo, East Jakarta, was established
for foreign investment under Law No. 1 of 1967 in conjunction with Law No. 11 of 1970, with the notarial
deed of Eliza Pondaag SH dated October 14, 1970 No. 29. This deed was approved by the Minister of
Justice No. J.A.5/173/6 dated December 28, 1970, and published in Supplement No. 202 of the State
Gazette No. 34 dated April 27, 1971 ("Establishment Deed"). The Articles of Association of the
Company contained in the Establishment Deed have been amended several times, most recently based
on the Deed of Statement of the Annual General Meeting of Shareholders of PT Merck Tbk No. 63 dated
June 16, 2021, made before Antonius Wahono Prawirodirjo, S.H., Notary in North Jakarta, which has
been accepted and recorded in the Legal Entity Administration System of the Ministry of Law and Human
Rights of the Republic of Indonesia No. AHU-AH.01.03-0428875 dated July 15, 2021.
Main Business Activities and Supporting Business Activities of the Company
The Company's business activities based on Article 3 of the Company's Articles of Association regarding
the Purpose and Objectives as well as the Company's Business Activities are as follows:
1. The purpose and objectives of the Company are to engage in the fields of processing industry, trade,
information and communication, education, professional, scientific and technical activities, as well
as rental and management services related to business activities.
2. To achieve the purposes and objectives stated in paragraph 1 of Article 3 above, the Company may
carry out the following business activities:
a. the manufacture and processing of medicines, health supplements in finished form for humans;
b. the manufacture of medical equipment and other supplies;
c. wholesale trade specifically for laboratory, pharmaceutical, and medical equipment;
d. retail trade specifically for laboratory, pharmaceutical, and medical equipment;
e. publication of journals, bulletins, and magazines;
f. publication of books in print and electronic formats (CD, CD-ROM, DVD, etc.);
g. specialized educational activities aimed at enhancing skills/expertise in the health field organized
by private entities;
h. providing advice, guidance, and operational support for business and other organizational and
management issues, such as strategic planning and organization; financial decision-making;
marketing goals and policies; human resources planning, practices, and policies;
i. supervision and management of other business units or enterprises; strategic management or
organizational planning and decision-making from company or enterprise regulations.
j. rental and operation of non-residential buildings either owned or leased, such as office buildings.
From the Company's business activities based on Article 3 of the Company's Articles of Association
above, not all business activities have been undertaken by the Company.
The business activities that are currently being actively carried out by the Company based on the
Indonesian Standard Industrial Classification (KBLI) are as follows:
• Main Business Activities:
• Pharmaceutical products industry for humans (KBLI 21012).
• Wholesale trade of laboratory, pharmaceutical, and medical equipment for humans (KBLI
46691).
• Supporting Business Activities:
• Industry of medical and dental equipment and other supplies (KBLI 32509).
• Rental and operation of non-residential buildings either owned or leased, such as office
buildings (KBLI 68111).
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Based on the KBLIs above, examples of the Company's current Business Activities are producing
prescription drugs at the Pasar Rebo Factory, namely for diabetes and cardiovascular diseases, as well
as KSR supplements. The Company also imports various other drug products including for cancer,
infertility, thyroid disorders, growth hormone disorders and multiple sclerosis. All of these products are
marketed through the Company's Main Distributor.
Meanwhile, for wholesale trading and import of medical devices, the Company distributes medical
devices in the form of injections to support the use of infertility drugs and growth hormone disorders.
Capital Structure and Shareholder Composition
Based on the Shareholder List issued by the Company's Securities Administration Bureau, PT EDI
Indonesia ("BAE EDI"), the capital structure of the Company and the composition of the Company's
Shareholders as of December 31, 2024, are as follows:
Shareholder Number of Shares Nominal Value %
(full units) (Rp 000)
Merck Holding
GmbH, Germany
(Controlling) 331,483,000 16,574,150 73.99
Emedia Export
Company mbH,
Germany 56,711,920 2,835,596 12.66
Other public
shareholders,
below 5% 59,805,080 2,990,254 13.35
TOTAL 448,000,000 22,400,000 100.00
Composition of the Board of Directors and Board of Commissioners of the Company
The following is the composition of the Board of Directors and Board of Commissioners of the Company
at the date this ID is published:
Board of Directors
Based on the Deed of Statement of the Meeting of PT Merck Tbk No. 56 dated May 29, 2024
President Director : Evie Yulin
Director : Bambang Nurcahyo
Director : Arryo Aritrixso Teguh Putranto Wachjuwidajat
Board of Commissioners
Based on the Deed of Statement of the Meeting of PT Merck Tbk No. 17 dated May 10, 2023
President Commissioner : Tang Mei Lin
Independent Commissioner : Parulian Simanjuntak
Company Ownership
The ownership of the Company up to the individual ownership level as of December 31, 2024, is as
follows:
Shareholder Number of Shares Nominal Value %
(full units) (Rp 000)
Merck Holding
GmbH, Germany
(Controller) 331,483,000 16,574,150 73.99
Emedia Export
Company mbH,
Germany 56,711,920 2,835,596 12.66
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Other public
shareholders,
below 5%s 59,805,080 2,990,254 13.35
TOTAL 448,000,000 22,400,000 100.00
The ownership diagram of the Company up to the level of individual ownership and the names of the
parties that control the Company are as follows:
* The Controlling Shareholder of the Company is Merck Holding GmbH
**Merck KGaA has two types of shareholders/partners – limited liability shareholders
(Kommanditaktionäre) and personally liable (general) partners (persönlich haftende Gesellschafter or
Komplementäre). Around 30% of Merck KGaA's total capital is publicly traded and held by limited liability
shareholders (for more information on the public listing please cf. the Merck-Homepage
(https://www.merckgroup.com/en/investors/shares-andbonds.html)).
*Ultimate Beneficial Owners of the Company's Shares effective March 1, 2025, are as follows:
1. Johannes Baillou
2. Dr. Wolfgang Heinz Buchele;
3. Belen Garijo Lopez;
4. Helene Dorothea Editha Roder von Diersburg;
5. Dr. Kai Wolfgang Beckmann.
6. Peter Antoon Guenter;
7. Dr. Matthias Josef Heinzel;
8. Khadija Ben Hammada.
Financial Data Overview
Overview of the Company's Financial Statements as of September 30, 2024, audited by the Public
Accounting Firm Liana Ramon Xenia & Partners is as follows:
Balance Sheet
Total Assets 943,684,262
Total Current Assets 704,970,574
Total Non-Current Assets 238,713,688
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Total Liabilities 187,614,340
Total Short-Term Liabilities 147,429,002
Total Long-Term Liabilities 40,185,338
Total Equity 756,069,922
Paid-Up Capital 39,961,517
Retained Earnings 716,108,405
Income Statement and Other Comprehensive Income
in thousands of Rupiah, unless stated otherwise
Revenue 787,681,343
Gross Profit 285,786,057
Operating Income 132,058,094
EBITDA 156,685,292
Profit 102,464,976
Other Comprehensive Income, after tax 1,086,153
TOTAL COMPREHENSIVE INCOME 103,551,129
Basic Earnings per Share (in full Rupiah) 229
Financial Ratios
in percentage (%)
Current Ratio 4.78
ROA (%) 10.86
ROE (%) 13.55
Ebitda to Revenue 19.89
III. SUMMARY OF FEASIBILITY STUDY ON THE PLAN TO ADD BUSINESS ACTIVITIES
To ensure the feasibility of the Plan to Add Business Activities, the Company has requested an
Independent Valuer registered with the OJK, namely the Public Valuation Service Office of Suwendho
Rinaldy and Partners ("KJPP SRR"), as an independent valuer to conduct a feasibility study on the Plan
to Add Business Activities. The valuer in charge of the feasibility study of the Plan to Add Business
Activities is Heribertus Eri Hestiyanto, MAPPI (Cert).
KJPP SRR states that it does not have any direct or indirect affiliation with the Company as defined in
the Capital Market Law ("UUPM").
The following is a summary of the feasibility study report No. 250311.001/SRR-JK/LP-S/MERK/EH dated
March 11, 2025 prepared by KJPP SRR ("the Feasibility Study Report").
A. Purpose and Objective
The purpose of the feasibility study is to provide an opinion of the feasibility of the Plan to Add
Business Activities in order to meet the provisions of POJK 17/2020. The object of the feasibility
study is the Plan to Add Business Activities.
B. Cut-Off Date of the Feasibility Study
The cut-off date for the feasibility study is September 30, 2024, referring to the Company's financial
statements for the nine-month period ending on September 30, 2024, which have been audited by
the Public Accounting Firm (KAP) Liana Ramona Xenia & Partners with a fair opinion, which serves
as the basis for preparing the Feasibility Study Report.
C. Assumptions and Limiting Conditions
In preparing the feasibility study, KJPP SRR uses the following assumptions and limiting conditions:
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a) The feasibility study report of the Plan to Add Business Activities is a non-disclaimer opinion.
b) KJPP SRR has conducted a review of the documents used in the preparation of the feasibility
study.
c) The data and information obtained come from sources that can be trusted for accuracy.
d) KJPP SRR uses adjusted financial projections that reflect the fairness of financial projections
made by the Company.
e) KJPP SRR is responsible for the implementation of the preparation of the feasibility study report
and fairness of financial projections.
f) The feasibility study report is a report that is open to the public unless there is confidential
information, which may affect the Company's operations.
g) KJPP SRR is responsible for the feasibility study report, including the conclusions in the feasibility
study report.
h) KJPP SRR has obtained information on the terms and conditions in the agreements related to
the Plan to Add Business Activities.
D. Methods and Procedures for Preparing the Feasibility Study Report
In providing the opinion on the feasibility of the Plan to Add Business Activities, KJPP SRR conducted
analyses as follows:
1. Analysis of market feasibility.
2. Analysis of technical feasibility.
3. Analysis of business model feasibility.
4. Analysis of management model feasibility.
5. Analysis of financial feasibility.
E. Summary of Feasibility Study Results
The following is a summary of the Feasibility Study Report:
a) Analysis of Market Feasibility
In the analysis of market feasibility, an analysis was conducted on market conditions, such as
market share, sustainability, market potential, targets, and potential market value; business
competitors; and marketing strategies.
From the market analysis conducted, it can be concluded that the Plan to Add Business Activities
is feasible to be implemented because the buffer cartridge and DCM products have market
potential and can maintain the Company's business continuity.
b) Analysis of Technical Feasibility
In the analysis of technical feasibility, an analysis was conducted on production capacity;
availability and quality of resources, including raw materials, workers, and professional experts;
and production processes.
From the technical analysis conducted, it can be concluded that the Plan to Add Business
Activities is technically feasible to be implemented because it can be supported by the
Company's existing production facilities and the necessary raw materials can be available..
c) Analysis of Business Model Feasibility
In the analysis of business model feasibility, an analysis was conducted on competitive
advantages due to the uniqueness of the business model; competitors' ability to imitate
products; and the ability to create value.
From the business model analysis conducted, it can be concluded that the Plan to Add Business
Activities is feasible to be implemented by applying a 5-pillar strategy, and there are no
competitors for the buffer cartridge and DCM products domestically.
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d) Analysis of Management Model Feasibility
In the analysis of management model feasibility, an analysis was conducted on the availability
of labor; intellectual property management; risk management; management capacity and
capability; and the suitability of the organizational structure and management.
From the management model analysis conducted, it can be concluded that the Plan to Add
Business Activities is feasible to be implemented because the Company's organizational
structure currently supports the operational work of the Company in the Plan to Add Business
Activities.
e) Analysis of Financial Feasibility
In the analysis of financial feasibility, an analysis was conducted on net present value (NPV),
internal rate of return (IRR), and payback period, where the Plan to Add Business Activities is
said to be feasible or profitable if:
- NPV is positive
- IRR is greater than the discount rate (the discount rate used is 9.33%)
- Payback period is shorter than the projection period (the projection period used is 5 years
and 3 months)
From the results of the analysis of financial feasibility, the Plan to Add Business Activities is
feasible to be implemented, with an NPV of Rp 64.13 billion, an IRR of 39.89%, and a payback
period of 4 years and 1 month.
F. Conclusion
Based on the results of the analysis of all data and information related to the Plan to Add Business
Activities that has been received and by considering all relevant factors, KJPP SRR is of the opinion
that the Plan to Add Business Activities is feasible. This can be seen from the value of the investment
criteria, namely NPV of IDR 64.13 billion, IRR of 39.89%, and payback period of 4 years and 1
month.
IV. AVAILABILITY OF EXPERTS RELATED TO THE PLAN TO ADD BUSINESS ACTIVITIES
The Company plans to add business activities based on the Indonesian Standard Industrial Classification
(KBLI) 2020 with the KBLI number 20299, namely Other Chemical Goods Industry for diagnostic and
laboratory purposes.
In the plan to add new business activities, namely the production of chemical goods for diagnostic and
laboratory purposes, the Company has the potential to utilize production facilities as a contract
manufacturer. The Company has adequate expert resources, namely the production team and Quality
Control from the Plant division. The Company will also allocate training costs for experts. Until now,
there is no need for new expert skills related to the Company's plan to add business activities.
V. EXPLANATION, CONSIDERATIONS, AND REASONS FOR THE ADDITION OF BUSINESS
ACTIVITIES
The urgency of the new business activity addition for the Company's sustainability.
Starting from the vision of the Merck Group to continue to drive new discoveries that improve the quality
of human life, we face the challenge of proving our resilience amid industry dynamics.
The selected prescription drug products as advantages have innovative characteristics and a long-term
orientation in improving patient quality of life, as well as providing a positive impact on stakeholders.
This choice is appropriate, given the health development data in Indonesia showing an increase in
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awareness of symptoms related to our health products, such as oncology, cardio, infertility, and
metabolic (diabetes and thyroid disorders).
This forward-looking perspective demands resilience and hard work to explore the possibility of adjusting
the product portfolio, which is still in line with the Merck Group strategy. This is particularly important
because at the end of 2025, some contracts with Procter & Gamble (P&G) for the production of consumer
health products, especially liquid products, will end, while solid product contracts will continue until June
2027. We realize that this change is necessary to anticipate a decline in production quantity in the
following years, which could pose a risk of asset value adjustments that must be managed carefully.
In accordance with Law 40/2007 and the Company's Articles of Association, the Board of Directors has
full responsibility for managing and administering the Company in the interest of the Company in good
faith. Therefore, we need to seek opportunities to maximize the utilization of production facilities in
Pasar Rebo to produce other products with a contract manufacturing model.
The Plan to Add Company's Business Activities
As disclosed in Chapter II on Brief Information Regarding the Company, as a Pharmaceutical Industry,
the Company produces prescription drugs at the Pasar Rebo Factory and imports various other drug
products. Meanwhile, as a player in the wholesale business of medical devices, the Company distributes
medical devices in the form of injection devices to support the use of infertility drugs and growth
hormone disorders.
However, the Company plans to add business activities based on the Indonesian Standard Industrial
Classification (KBLI) 2020 with the KBLI number 20299, namely Other Chemical Goods Industry for
diagnostic and laboratory purposes.
In the future, if the license for Additional Business Activities is approved, the Company will be able to
produce additional products, namely chemical products for diagnostics and laboratories, specifically
buffer cartridges and dehydrated culture media (DCM).
Licenses Required for the Addition of Business Activities
The licenses required for the addition of the Company's new business activities can only be processed
after obtaining shareholder approval through the Company's GMS. The plan to hold the EGMS to obtain
shareholder approval for the addition of the Company's business activities is part of the Company's
preparation and anticipation efforts to be able to immediately process the application for obtaining
licenses from the relevant authorities, which will be necessary to start the operations of the new business
activities. The licensing process can take a considerable amount of time, including adding a new KBLI
in the Company's Business Identification Number (NIB), Environmental Impact Analysis (AMDAL)
permits, Standard Certificates, import permits related to raw materials, and other necessary permits.
Thus, when the production potential arises, the Company will be ready to seize the opportunity.
We believe this step is part of the right strategy to support the sustainability of our efforts, which have
and will always support patients in Indonesia.
Types of Products Produced from the New Business Activity Addition
The current focus is on chemical goods for diagnostic and laboratory purposes.
VI. EXPLANATION OF THE IMPACT OF THE PLAN TO ADD BUSINESS ACTIVITIES ON THE
COMPANY'S FINANCIAL CONDITION
With the implementation of the Plan to Add Business Activities, the Company's operating profit is
expected to increase between 1.71% to 7.69% and the Company's net profit is expected to increase
between 1.68% to 7.48% due to additional revenue from the Plan to Add Business Activities.
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The implementation of the Plan to Add Business Activities will improve the Company's profitability ratios
(return on assets (ROA) and return on equity (ROE)). The average ROA of the Company after the Plan
to Add Business Activities rises to 9.24% from previously 9.15%, and the average ROE of the Company
after the Plan to Add Business Activities rises to 11.43% from previously 11.24%.
in Rupiah billion, unless otherwise stated
Description 2024 2025 2026 2027 2028 2029
Without the Plan to Add
Business Activities
Operating Profit 184.9 164.8 157.8 135.4 111.6 113.3
Net Profit 146.4 131.1 125.5 108.1 89.5 90.9
Total Assets 999.9 1,180.8 1,303.6 1,401.6 1,482.0 1,576.2
Total Equity 800.0 931.0 1,056.6 1,164.6 1,254.2 1,345.1
ROA 14.64% 11.10% 9.63% 7.71% 6.04% 5.77%
ROE 18.30% 14.08% 11.88% 9.28% 7.14% 6.76%
With the Plan to Add
Business Activities
Operating Profit 184.9 162.3 160.5 140.3 119.5 122.1
Net Profit 146.4 129.1 127.6 111.9 95.7 97.7
Total Assets 999.9 1,179.3 1,313.5 1,429.9 1,519.9 1,623.0
Total Equity 800.0 929.1 1,056.7 1,168.6 1,264.3 1,362.0
ROA 14.64% 10.95% 9.72% 7.83% 6.30% 6.02%
ROE 18.30% 13.90% 12.08% 9.58% 7.57% 7.17%
Increase in Operating
Profit (%) 0.00% -1.52% 1.71% 3.64% 7.09% 7.69%
Increase in Net Profit (%) 0.00% -1.49% 1.68% 3.55% 6.89% 7.48%
Assumptions and basis for preparing financial projections are as follows:
- Revenue growth: The Company considers compounding growth from the market size of each product
category, also considering the expansion targets of each product.
- Production costs: The Company uses the assumption of current average material prices.
- Operational costs: The Company uses an inflation assumption of 3-5% and also the increase in
operational costs (employee costs, marketing costs, distribution costs) needed to support the
Company's revenue growth.
The results of the feasibility criteria from the Plan to Add Business Activities based on the Feasibility
Study Report prepared by KJPP SRR are as follows:
Net Present Value: Rp 64.13 billion
IRR: 39.89%
Payback Period: 4 years 1 month
Based on the results of the financial projection analysis, the Plan to Add Business Activities will provide
added value to the Company and the Company's Shareholders.
VII. INFORMATION ON THE CONDUCT OF THE EGMS
The Company will hold an Extraordinary General Meeting of Shareholders (RUPSLB) regarding the
Change of Main Business Activities on Monday, March 24, 2025, at the Company's office, PT Merck Tbk,
Jl. TB. Simatupang No. 8, Pasar Rebo, East Jakarta 13760 at 09:00 WIB. The announcement of the
RUPSLB was made on February 13, 2025, through the eASY.KSEI platform, the Indonesia Stock
Exchange website, and the Company's website, while the RUPSLB invitation was sent on February 28,
2025, through the eASY.KSEI platform, the Indonesia Stock Exchange website, and the Company's
website. Those entitled to attend or be represented at the RUPSLB are the shareholders of the Company
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whose names are recorded in the Company's Shareholders Register as of February 27, 2025, until 16:00
WIB.
Agenda of the EGMS
The agenda of the RUPSLB is as follows:
1. Report on the Feasibility Study regarding the Plan for Additional Business Activities of the Company.
Explanation:
This agenda is a brief discussion of the Feasibility Study Report aimed at providing information to
the shareholders of the Company regarding the plan to add business fields based on the Indonesian
Standard Industrial Classification (KBLI) 2020 with KBLI number 20299, namely Other Chemical
Goods YTDL (Not Included in Others).
2. Approval of the Addition of Business Fields of the Company, which Results in Amendments to Article
3 of the Company's Articles of Association regarding the Purpose and Objectives as well as the
Company's Business Activities.
Explanation:
This agenda is to comply with the provisions in the Government Regulation of the Republic of
Indonesia No. 5 of 2021 concerning the Implementation of Risk-Based Business Licensing through
the Online Single Submission (OSS) system and the Regulation of the Central Statistics Agency No.
2 of 2020 concerning the Standard Industrial Classification, while the Company also requests
approval from the shareholders to add business fields of the Company based on the Indonesian
Standard Industrial Classification (KBLI) 2020 with KBLI number 20299, namely Other Chemical
Goods YTDL (Not Included in Others).
Quorum for Attendance and Decisions of the EGMS
The quorum for attendance and the quorum for decisions of the RUPSLB for the approval agenda
concerning the amendment of provisions in the Company's Articles of Association related to the addition
of new business activities of the Company shall be conducted under the following provisions:
a. The RUPSLB may be held if it is attended by legitimate shareholders representing at least 2/3
(two-thirds) of the total shares with valid voting rights;
b. The decision of the RUPSLB as referred to in letter a is valid if approved by more than 2/3 (two-
thirds) of all shares with voting rights present at the RUPSLB;
c. In the event that the quorum as referred to in letter a is not met, a second RUPSLB may be held
with the provision that the second RUPSLB is valid and entitled to make decisions if attended by
shareholders representing at least 3/5 (three-fifths) of the total shares with valid voting rights;
d. The decision of the second RUPSLB is valid if approved by more than 1/2 (one-half) of all shares
with voting rights present at the RUPSLB; and
e. In the event that the attendance quorum at the second RUPSLB as referred to in letter c is not
met, a third RUPSLB may be held with the provision that the third RUPSLB is valid and entitled
to make decisions if attended by shareholders of shares with voting rights in the attendance
quorum and decision quorum set by the Financial Services Authority at the request of the
Company.
Following the Provisions No. 15/POJK.04/2020 concerning Plans and Conduct of General Meetings of
Shareholders of Public Companies and No. 16/POJK.04/2020 concerning the Implementation of General
Meetings of Shareholders of Public Companies Electronically, the Company will also use the eASY.KSEI
system provided by KSEI as the designated e-GMS provider by OJK.
Shareholders entitled to attend the Meeting are given the opportunity to grant their attendance and
voting proxies electronically and to attend using the Electronic General Meeting System application KSEI
(eASY.KSEI) provided by KSEI as a mechanism for granting electronic proxies in the conduct of e-GMS.
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VIII. STATEMENT OF THE BOARD OF COMMISSIONERS AND THE BOARD OF DIRECTORS The Board of Commissioners and the Board of Directors hereby declare that all material information disclosed in this information disclosure is true and accountable, and there is no additional information that has not been disclosed that could cause this statement to be untrue or misleading. IX. ADDITIONAL INFORMATION There is no other material matters related to the new business activities.
Names mentioned 15 people and organisations named in the text · linked when the evidence is strong
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FINANCIAL SERVICES AUTHORITY
p.1 ×2
unresolved
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Indonesia Stock Exchange
p.1 ×3
unresolved
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Minister of Justice No. J.A.
p.2
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person
Antonius Wahono Prawirodirjo
· Notaris
p.2
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Ministry of Law and Human Rights
p.2
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Dr. Wolfgang Heinz Buchele
p.4
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Dr. Kai Wolfgang Beckmann.
p.4
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Dr. Matthias Josef Heinzel
p.4
unresolved
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Public Accounting Firm Liana Ramon Xenia & Partners
p.4
unresolved
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KJPP SRR
p.5 ×12
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Heribertus Eri Hestiyanto
p.5
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Liana Ramona Xenia & Partners
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12 Sep 2026 22:52
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