PTBA Approves Dissolution and Liquidation of Subsidiary BMP

PT Bukit Asam Tbk (PTBA) has approved the dissolution and liquidation of PT Bukit Multi Properti (BMP), after the decision was agreed by shareholders on 31 October 2026. The move is part of a restructuring of state-owned enterprise subsidiaries intended to improve operational efficiency and strengthen corporate governance, Investasi reported.

In a disclosure to the Indonesia Stock Exchange (BEI), cited on Sunday (1 November 2026), PTBA said approval for BMP’s dissolution was granted through a shareholders’ circular resolution.

BMP’s ownership comprises 99.99% held by BMI and 0.01% by the Bukit Asam Foundation (YBA). Under the resolution, both shareholders approved the company’s dissolution and liquidation.

PTBA said the policy is in line with the Government’s strategy, implemented through PT Danantara Asset Management, to reorganise or streamline subsidiaries of state-owned enterprises.

The restructuring is intended to optimise the management of state-owned enterprises and their subsidiaries. Its focus includes improving efficiency, strengthening core business activities and enhancing governance by reducing duplicated functions and similar business activities.

The dissolution of BMP is also part of PTBA’s commitment, as a member of the MIND ID group, to support the strategic policies of the group’s controlling shareholder.

In the same circular resolution, shareholders approved the appointment of three people as BMP’s liquidators: Nuzul Hakim, Lukman Hakim and Fantri Wismantoro.

The three liquidators will carry out the company’s winding-up process in accordance with applicable laws and regulations.

PTBA said the liquidation will be conducted under Law No. 40 of 2007 on Limited Liability Companies, as amended.

PTBA’s management also said BMP’s dissolution and liquidation would have no impact on the parent company’s operations.

The decision is also expected to have no effect on PTBA’s legal position, financial condition or business continuity.