Business · Companies · 4 hrs ago
Bukit Asam to Liquidate Property Subsidiary
Bukit Asam will dissolve and liquidate PT Bukit Multi Properti, a subsidiary it controls indirectly.
Its investment subsidiary owns 99.99% of the property company, while the Bukit Asam Foundation owns the remaining 0.01%.
The move follows a government policy to streamline state-owned companies' subsidiaries, directed through Danantara Asset Management.
The policy aims to improve efficiency and focus on core businesses by reducing overlapping functions and similar activities.
As part of the MIND ID group, Bukit Asam said the liquidation supports its controlling shareholder's policy.
The company says the move will not affect its operations, finances or business continuity; no further steps were specified.
Bukit Asam said it will dissolve and liquidate PT Bukit Multi Properti, a property subsidiary it controls indirectly.
The move follows a state policy, implemented through PT Danantara Asset Management, to streamline subsidiaries of state-owned companies.
Bukit Asam said the policy is intended to improve efficiency, focus companies on core businesses and strengthen governance.
The company said the liquidation would not affect its operations, legal standing, financial condition or business continuity.
- Who
- PT Bukit Asam (PTBA) is dissolving PT Bukit Multi Properti (PT BMP), which it controls indirectly through PT Bukit Multi Investama.
- What
- PT BMP will be dissolved through liquidation.
- When
- Not stated
- Where
- Not stated
- Why
- The move supports a state policy to streamline subsidiaries of state-owned companies, improve efficiency and focus on core businesses.
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- Subsidiary to be liquidated
- PT Bukit Multi Properti (PT BMP)
- Indirect controlling entity
- PT Bukit Multi Investama (PT BMI)
- PT BMI's ownership stake
- 99.99% of PT BMP
- Other shareholder
- Yayasan Bukit Asam (YBA), with 0.01%
- Expected company impact
- No effect on operations, legal standing, financial condition or business continuity
What people are saying
The Republic of Indonesia, through PT Danantara Asset Management, has a strategic policy directing and instructing the streamlining of subsidiaries of state-owned enterprises to optimize the operation of state-owned enterprises and their subsidiaries in supporting the achievement of their objectives.