PPID

PT Perusahaan Pengelola Aset (or “PPA” or the “Company”) was established on February 27, 2004 based on Government Regulation No. 10 of 2004 dated February 27, 2004 concerning the Establishment of a Limited Liability Company (Persero) in the Asset Management Sector, and obtained approval from the Ministry of Law and Human Rights No. C-05780 HT.01.01.TH.2004 dated March 9, 2004.

Based on its deed of establishment, PPA would initially operate for a period of 5 (five) years, which could be extended based on approval from the General Meeting of Shareholders (GMS). PPA’s main mandate was to manage the assets of the former Indonesian Bank Restructuring Agency (IBRA) that were not involved in legal cases. To carry out this task, on March 24, 2004, PPA signed an agreement with the Minister of Finance concerning the management of ex-IBRA assets.

Due to PPA’s ability to manage former IBRA assets, the Shareholders then delegated it with the task of assisting the Government in improving the health of SOEs that were experiencing problems. This assignment became a consideration for the Government to review the strategy and reformulate the Company’s aims and objectives.

In 2008, PPA’s business scope increased. Through Government Regulation No. 61 dated September 4, 2008 as an Amendment to Government Regulation No. 10 of 2004 concerning the Establishment of a Limited Liability Company (Persero) in the Asset Management Sector, the aims and objectives of PPA became the management of former IBRA State assets; Restructuring and/or revitalization (R/R) of SOEs; Investment activities; and asset management activities of State-Owned Enterprises.

As a follow-up to the regulation, on September 10, 2008, the Shareholders issued a Shareholders’ Resolution outside the GMS that stipulated a change in the Company’s term of office from five years to an unlimited period (going concern).

In line with the Company’s business development, the Minister of BUMN as the shareholder’s attorney again made changes to the capital structure and Articles of Association of the Company on July 26, 2022 in accordance with the Decision Statement outside the PT Perusahaan Pengelola Aset General Meeting of Shareholders of the Company (Persero) that received a letter of acceptance of notification of the changes The Articles of Association from the Ministry of Law and Human Rights that they were in accordance with the Republic of Indonesia Minister of Law and Human Rights Decree No. AHU- 0052667.AH.01.02 of 2022 concerning Approval of Amendments to the Articles of Association of Limited Liability Companies in Supplement to the State Gazette of the Republic of Indonesia No. 70 dated September 2, 2022.

On March 10 2023, the Company’s Shareholders made further changes to the Company’s capital structure and Articles of Association. This was in accordance with the Decision Statement outside the PT Perusahaan Pengelola Aset General Meeting of Shareholders of the Company (Persero) that received a letter of acceptance of the changes to the Articles of Association from the Ministry of Law and Human Rights in accordance with the Republic
of Indonesia Minister of Law and Human Rights Decree No. AHUAH.01.03-0041646 dated March 17, 2023, as published in the Republic of Indonesia State Gazette No. 48, Supplement to the Republic of Indonesia State Gazette No. 17146.

Information on Name Changes
During 2024, the Company did not make any name changes. PPA changed its name on July 26, 2022, from Perusahaan Perseroan (Persero) PT Perusahaan Pengelola Aset (Persero) to PT Perusahaan Pengelola Aset in accordance with Deed No. 47 dated July 26, 2022. The change was a follow-up to the Minister of SOEs Letter No. S-385/MBU/06/2022 dated June 24, 2022 concerning Approval Share Transfers.