PT Bangun Karya Perkasa Jaya Tbk Sells Warehouse Assets to Strengthen Working Capital
Surabaya, September 1, 2025 – PT Bangun Karya Perkasa Jaya Tbk (the “Company”) today announced that it has completed a sale transaction for fixed assets in the form of land and warehouse buildings located in the Margomulyo Jaya Warehouse Complex Block H-21, Surabaya. The 388 m² warehouse was sold to a third party for a transaction value of IDR 4.39 billion. The Company noted that this transaction provides a potential sales gain of around IDR 400 million which will be included as other income in the third quarter 2025 financial report. The proceeds from the sale will be used to strengthen the Company’s working capital. The Director of PT Bangun Karya Perkasa Jaya Tbk, Brigitta Notoatmodjo, stated that this transaction is not an affiliated transaction or a material transaction as regulated in POJK No. 42/POJK.04/2020 and POJK No. 17/POJK.04/2020. This step is expected to increase asset efficiency while strengthening the Company’s financial position going forward.
Change of Controller and Management PT Bangun Karya Perkasa Jaya Tbk (KRYA)
The Company announced that from July 7, 2025, to August 26, 2025, it conducted a due diligence process leading up to the Extraordinary General Meeting of Shareholders as part of the acquisition, planned change of control, and management restructuring of PT Bangun Karya Perkasa Jaya Tbk (KRYA).
The due diligence process was comprehensive, covering the legal, financial, and operational aspects of the Company. The purpose of this due diligence is to ensure compliance with the provisions of the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX), as well as to assess the Company's readiness to implement the change of control.
As a follow-up to the results of this due diligence, the Company held an Extraordinary General Meeting of Shareholders (EGMS) on Tuesday, August 26, 2025, at The Ritz-Carlton, Pacific Place Jakarta, and through the eASY.KSEI electronic system. The meeting was attended by shareholders representing 1,193,170,052 shares, equivalent to 71.71% of the total shares with valid voting rights, and all meeting agenda items were unanimously approved without objection or abstention.
I. Composition of the Board of Commissioners and Directors Prior to the Change
Board of Commissioners:
- President Commissioner : Pramana Budihardjo
- Independent Commissioner : Budi Herlambang
Board of Directors:
- President Director : Dharmo Budiono
- Director : Brigitta Notoatmodjo
Board of Directors:
- President Director : Dharmo Budiono
- Director : Brigitta Notoatmodjo
II. Resolutions of the EGMS and the New Composition of the Board of Commissioners and Directors
Through the EGMS, the shareholders approved the honorable dismissal of all members of the previous Board of Commissioners and Directors, and granted them full release and discharge (acquit et de charge) for the performance of their duties during their terms of office. Furthermore, the Meeting decided to appoint the following new management of the Company:
Board of Commissioners (term of office 2025–2030):
- President Commissioner : An Shaohong
- Independent Commissioner : William Ong
Board of Directors (term of office 2025–2030):
- President Director : William Teng
- Director : Brigitta Notoatmodjo
This decision was set forth in Notarial Deeds Numbers 98 and 99 dated August 26, 2025, drawn up by Notary Elizabeth Karina Leonita, S.H., M.Kn., a Notary in South Jakarta. Currently, the process of notifying the Company of changes to its data to the Ministry of Law and Human Rights of the Republic of Indonesia is being finalized.
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KRYA's capital investment in PT Green City Traffic ("GCT")
PT Bangun Karya Perkasa Jaya Tbk. (KRYA) announced a strategic plan on August 8, 2025, to acquire a 51% stake in PT Green City Traffic (GCT), owner of the ECGO electric motorcycle brand. This Rp 10.42 billion transaction makes KRYA the majority shareholder, with the remaining shares held by Green City SG Pte. Ltd. and William Teng.
GCT, established in 2018, is known as one of Indonesia's leading electric vehicle manufacturers, with a local content content (TKDN) level of up to 56% and sales of over 10,000 units. ECGO has built an integrated EV ecosystem, encompassing design, production, rental, and battery exchange, and is a primary supplier for GOJEK and GRAB drivers.
KRYA emphasized that this acquisition aligns with its business transformation strategy to expand its portfolio, support the government's program to accelerate environmentally friendly vehicles, and create long-term added value. Going forward, in addition to electric motorcycles, the company will also develop electric three-wheeled and commercial vehicles, with a target of reaching 1 million electric motorcycle sales within five years.
