Draft:Prima Master Bank
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Native name | PT Bank Perekonomian Rakyat Prima Master Bank |
|---|---|
| Formerly |
|
| Type | Private limited liability company (perseroan terbatas) |
| Industry | Banking |
| Founded | 1 November 1989[1] |
| Defunct | 27 January 2026 (license revoked) |
| Fate | License revoked by the OJK (27 January 2026);[2] dissolved by resolution of the general meeting of shareholders (8 July 2026);[3] in liquidation by the LPS[4] |
| Headquarters | Jl. Jembatan Merah No. 15–17, Krembangan Selatan[2], , Indonesia |
| Key people | Last board before dissolution:[3]
|
| Owner | Indirect controlling shareholders from 21 March 2025:[5][6][7][8][a][b]
|
| Parent |
|
| Website | www |
Prima Master Bank (officially PT Bank Perekonomian Rakyat Prima Master Bank, abbreviated BPR Prima Master Bank; formerly PT Prima Master Bank; also known as Prima Bank or Bank Prima Master) was an Indonesian bank headquartered in Surabaya, East Java. Founded in 1989 and operating as a commercial bank from 1991, it was required to convert into a rural bank (Bank Perekonomian Rakyat, BPR) in 2023 after failing to meet the minimum core capital requirement.[10] Its condition continued to deteriorate after the conversion, and the Financial Services Authority (OJK) revoked its business license on 27 January 2026.[2][11] The company was dissolved by a resolution of its general meeting of shareholders on 8 July 2026 and is being liquidated by the Indonesia Deposit Insurance Corporation (LPS).[3][4]
From 2006 all of the bank's shares were held by two companies, PT Hartamas Lestari and PT Multi Artacipta Serasi, with 50% each.[3] Until February 2025 both companies were almost wholly owned by Henry Susilowidjojo; from March 2025 their shares passed to new holding companies, making Chen Shun Chu the largest indirect owner of the bank.[5][6][7][8]
History
[edit]Founding and years as a commercial bank (1989–2022)
[edit]The bank was established on 1 November 1989 as PT Inter Asia Pacific Bank. Its change of name to PT Prima Master Bank was approved by the Minister of Justice on 31 July 1990.[1] It received its business license through Decree of the Minister of Finance No. 160/KMK/013/1991 of 13 February 1991,[1] and began operating on 1 March 1991[12] with authorized capital of Rp 50 billion.[13] Like many banks established after the October 1988 banking deregulation package (PAKTO 88), its early shareholders were businesspeople, including Njono Soetjipto (30%), Soegiharto (28.5%), Njoo Steven Tirtowidjojo (10%), David Siemens Kurniawan (10%) and Henry Susilowidjojo (10%), who were known as owners of paper businesses in the PT Pabrik Kertas Indonesia (Pakerin) and PT Java Paperindo Utama Industry groups.[14] Its head office was originally at Jl. Veteran No. 14–16, Surabaya;[15] from at least 2013 until its closure, it was at Jl. Jembatan Merah No. 15–17, Surabaya.[1][2]
The bank focused on retail banking, which helped it survive the 1998 economic crisis. In 2008 it had 12 branch offices, mostly in East Java (Surabaya, Malang and Sidoarjo) and Jakarta.[citation needed] From June 2006 all of its shares were held by two companies, PT Hartamas Lestari and PT Multi Artacipta Serasi, with 50% each; until February 2025 both companies were almost wholly owned by Henry Susilowidjojo (see Ownership history).[3] The bank remained small and constrained by capital requirements: its paid-up capital reached only Rp 81 billion in 2007,[3] with total assets of about Rp 582 billion.[16][17] As of December 2013 it had 8 branch offices, 13 sub-branch offices and 2 cash offices, with 463 employees.[1] By 2022 its network had grown to 24 offices, extending beyond Java to cities such as Mataram and Denpasar, with about 300 employees,[12][18] but its capital remained among the lowest of any commercial bank: core capital of Rp 282.82 billion as of March 2022, paid-up capital of Rp 268 billion and total assets of Rp 2.58 trillion.[19][20]
Conversion to a rural bank (2023–2025)
[edit]Under OJK Regulation No. 12/POJK.03/2020 on the Consolidation of Commercial Banks, commercial banks were required to hold minimum core capital of Rp 1 trillion by the end of 2020, Rp 2 trillion by the end of 2021 and Rp 3 trillion by the end of 2022.[21][10] There were reports that Prima Master Bank would be acquired by new owners, including foreign investors, to resolve its capital shortfall; reported candidates included Sea Limited (owner of SeaBank Indonesia) and Jianpu Technology in collaboration with Bank Mandiri.[20][18] None of these plans materialized. By the deadline of 31 December 2022, PT Prima Master Bank was the only national private commercial bank that had not met the minimum core capital requirement, and on 4 January 2023 the OJK Board of Commissioners decided to convert its license from a commercial bank to a BPR.[10][22]
Following the change of license, by resolution of an extraordinary general meeting of shareholders recorded in notarial deed No. 53 of 28 April 2023, the company's name was changed from PT Prima Master Bank to PT BPR Prima Master Bank; the change was approved by the Minister of Law and Human Rights on 15 May 2023.[3] The bank began operating as a BPR on 15 May 2023.[23] As a concession, the OJK allowed the bank to retain its 22 branch offices, including those outside Java, although BPRs are generally permitted to operate only in two neighboring provinces.[24] To conform with the new BPR nomenclature under Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector, the bank's name was changed to PT Bank Perekonomian Rakyat Prima Master Bank (abbreviated BPR Prima Master Bank) by deed No. 54 of 22 August 2025; the change was approved by the Minister of Law on 9 September 2025.[3][25]
Supervisory action, license revocation and dissolution (2024–2026)
[edit]In its second year as a BPR, the bank became involved in a dispute with PT Pakerin, a company linked to the business group of some of its early shareholders. Pakerin stated that its time deposits of Rp 1 trillion at the bank had been withheld to preserve the bank's soundness, while the funds had been intended to pay employees' wages.[26]
On 20 December 2024 the OJK placed the bank under the supervisory status of Bank Dalam Penyehatan (bank under recovery) because its capital adequacy ratio (KPMM) had fallen below 12% and its soundness rating was "unsound". On 19 December 2025 its status was escalated to Bank Dalam Resolusi (bank in resolution). As of September 2025 the bank reported a year-to-date net loss of Rp 31.4 billion, total assets of Rp 1.61 trillion and equity of Rp 153 billion, with customer funds comprising savings of Rp 209.64 billion and time deposits of Rp 1.2 trillion. The LPS subsequently decided not to rescue the bank.[11][27] By Decision of a Member of the OJK Board of Commissioners No. KEP-9/D.03/2026 of 27 January 2026, the OJK revoked the bank's business license. All of its offices were closed, settlement of its rights and obligations was assigned to a liquidation team formed by the LPS, and its board of directors, board of commissioners and shareholders were prohibited from taking any legal action concerning the bank's assets and liabilities without the LPS's written approval.[2][4]
The LPS paid deposit insurance claims in stages through Bank Negara Indonesia. The first stage began on 2 February 2026 and covered 88% of the bank's 3,587 deposit accounts,[28][29] followed by further stages on 26 February, 8 June and 22 June 2026.[30] Claims may be filed until 26 January 2031.[28] Not all payouts proceeded smoothly: a depositor filed a lawsuit against BNI over allegedly withheld funds,[31] and the dispute over Pakerin's deposits continued. Pakerin was later reported to have halted operations, with potential layoffs of 2,500 employees.[32]
On 8 July 2026 the general meeting of shareholders resolved to dissolve the company, as recorded in deed No. 18 executed before notary Mohammad Fahri Azmi in Lebak Regency; the dissolution was recorded by the Directorate General of General Legal Administration on 17 July 2026.[3]
Ownership history
[edit]The following account is based on the records of the Legal Entity Administration System (Sistem Administrasi Badan Hukum, SABH) of the Directorate General of General Legal Administration for the bank and its parent companies, and on OJK publications. The bank's SABH register contains data only from 22 December 2005; its shareholding before that date is known only from press reports (see History).[3][14][c]
Direct parent companies: PT Hartamas Lestari and PT Multi Artacipta Serasi
[edit]Founding and consolidation (1997–2007)
[edit]PT Hartamas Lestari (HML) and PT Multi Artacipta Serasi (MAS) were established on the same day, 16 December 1997, by deeds No. 58 and No. 59 respectively of notary Mutia Haryani, and were approved by the Minister of Justice on 29 December 1997. HML was domiciled in Surabaya and MAS in West Jakarta. Both companies were founded by the same six shareholders with identical holdings, each with paid-up capital of Rp 2.5 billion (2,500 shares with a nominal value of Rp 1 million). At incorporation, Henry Susilowidjojo was a director of HML and a commissioner of MAS, while Njono Tirtawidjaja was a commissioner of HML and a director of MAS.[5][6]
As of 15 June 2007 (deed No. 22 for HML and No. 21 for MAS, notary Jusuf Patrianto Tjahjono), the registers of both companies recorded issued capital of Rp 10 billion held by four shareholders: Soegiharto (64%) and David Siemens Kurniawan, Njoo Steven Tirtowidjojo and Henry Susilowidjojo (12% each); Njono Soetjipto and Njono Tirtawidjaja were no longer recorded. At HML, David Siemens Kurniawan was recorded as commissioner and Henry Susilowidjojo as director. At MAS, Njoo Steven Tirtowidjojo was initially recorded as director; on the same day, by deed No. 23, Susilis Tria Dewi was appointed director of MAS in his place, with Henry Susilowidjojo remaining commissioner.[5][6]
By deeds of 17 September 2007 (No. 15 for HML and No. 16 for MAS, notary Sophia Imelda), each company's paid-up capital was increased to Rp 40.5 billion, and the registers recorded only two shareholders: Henry Susilowidjojo (40,459 shares; 99.9%) and Susilis Tria Dewi (41 shares; 0.1%). From then on Henry Susilowidjojo served as director of HML and commissioner of MAS, and Susilis Tria Dewi as commissioner of HML and director of MAS.[5][6]
| Shareholder | 16 Dec 1997 | 15 Jun 2007 | 17 Sep 2007 | 28 Nov 2016 (HML / MAS) | From 28 Feb 2025 (HML / MAS) |
|---|---|---|---|---|---|
| Njono Soetjipto | 750 (30%) | – | – | – | – |
| Soegiharto | 600 (24%) | 6,400 (64%) | – | – | – |
| Njono Tirtawidjaja | 250 (10%) | – | – | – | – |
| David Siemens Kurniawan | 300 (12%) | 1,200 (12%) | – | – | – |
| Njoo Steven Tirtowidjojo | 300 (12%) | 1,200 (12%) | – | – | – |
| Henry Susilowidjojo | 300 (12%) | 1,200 (12%) | 40,459 (99.9%) | 104,895 / 104,894 | – |
| Susilis Tria Dewi | – | – | 41 (0.1%) | 105 / 106 | 105 / 106 |
| PT Pusaka Artamas Sentosa | – | – | – | – | 104,895 / 104,894 |
| Total shares | 2,500 | 10,000 | 40,500 | 105,000 | 105,000 |
Capital increases (2007–2016)
[edit]After September 2007 the paid-up capital of both companies was increased in stages, with the same proportions, reaching Rp 105 billion in November 2016. The composition remained unchanged until 27 February 2025. On 22 December 2023, changes to the company data of HML (deed No. 98) and MAS (deed No. 99, including a change of address) were executed before notary Anita Anggawidjaja, on the same day as the deed appointing Henry Susilowidjojo as a commissioner of the bank (deed No. 100).[5][6][3]
| HML deed / MAS deed | Paid-up capital (each) | Henry Susilowidjojo (HML / MAS) | Susilis Tria Dewi (HML / MAS) |
|---|---|---|---|
| No. 15 / No. 16, 17 September 2007 | Rp 40.5 billion | 40,459 / 40,459 | 41 / 41 |
| No. 4, 22 July 2008 / No. 3, 17 July 2008 | Rp 45.5 billion | 45,454 / 45,454 | 46 / 46 |
| No. 5 / No. 6, 8 June 2009 | Rp 50 billion | 49,950 / 49,950 | 50 / 50 |
| No. 5 / No. 6, 15 December 2011 | Rp 67.5 billion | 67,432 / 67,432 | 68 / 68 |
| No. 24 / No. 25, 26 November 2012 | Rp 80 billion | 79,920 / 79,920 | 80 / 80 |
| No. 12, 15 March 2013 / No. 4, 18 January 2013 | Rp 92.5 billion | 92,408 / 92,407 | 92 / 93 |
| No. 17 / No. 18, 28 November 2016 | Rp 105 billion | 104,895 / 104,894 | 105 / 106 |
Shareholders of the bank (2005–2026)
[edit]The bank's oldest register entry, deed No. 3 of 22 December 2005 (notary Sophia Imelda), records HML as holding 246,000 shares (60%) and MAS 164,000 shares (40%), with paid-up capital of Rp 41 billion.[d] The date on which HML and MAS became shareholders is not recorded in the register. By deed No. 11 of 28 June 2006, authorized capital was increased from Rp 50 billion to Rp 180 billion and paid-up capital from Rp 41 billion to Rp 61 billion; MAS subscribed for 141,000 new shares (Rp 14.1 billion) and HML for 59,000 new shares (Rp 5.9 billion), making their holdings equal. The 50:50 ratio was maintained through every subsequent capital increase until the bank's dissolution.[3] All of the bank's amending deeds from 2005 to 2022 were executed before notary Sophia Imelda in Surabaya, those from 2023 to 2025 before notary Anita Anggawidjaja in Surabaya, and the 2026 dissolution deed before notary Mohammad Fahri Azmi in Lebak Regency.[3]
| Deed | Authorized capital | Paid-up capital | HML (shares) | MAS (shares) | HML : MAS |
|---|---|---|---|---|---|
| No. 3, 22 December 2005 | Rp 50 billion | Rp 41 billion | 246,000 | 164,000 | 60 : 40 |
| No. 11, 28 June 2006 | Rp 180 billion | Rp 61 billion | 305,000 | 305,000 | 50 : 50 |
| No. 11, 27 June 2007; No. 4, 6 September 2007[e] | Rp 180 billion | Rp 81 billion | 405,000 | 405,000 | 50 : 50 |
| No. 7, 8 June 2009 | Rp 180 billion | Rp 100 billion | 500,000 | 500,000 | 50 : 50 |
| No. 4, 19 January 2012 | Rp 180 billion | Rp 150 billion | 750,000 | 750,000 | 50 : 50 |
| No. 26, 27 November 2012 | Rp 300 billion | Rp 175 billion | 875,000 | 875,000 | 50 : 50 |
| No. 6, 18 January 2013 | Rp 300 billion | Rp 200 billion | 1,000,000 | 1,000,000 | 50 : 50 |
| No. 13, 23 December 2015 | Rp 300 billion | Rp 243 billion | 1,215,000 | 1,215,000 | 50 : 50 |
| No. 4, 29 July 2016 – dissolution (2026) | Rp 300 billion | Rp 268 billion | 1,340,000 | 1,340,000 | 50 : 50 |
Controlling shareholder
[edit]The OJK's Indonesian Banking Directory recorded Henry Susilowidjojo as the bank's controlling shareholder as of December 2013.[1] As of March 2022 he was still described as the controlling shareholder, controlling the bank through PT Hartamas Lestari and PT Multi Artacipta Serasi,[19][18] and reports at the time of the license revocation in January 2026 still described the bank as controlled by him through PT Hartamas Lestari.[27]
By deed No. 100 of 22 December 2023, Henry Susilowidjojo was appointed a commissioner of the bank, together with Josef Andreanus Nae Soi as president commissioner and Erlianie Soethiono as director; the change was registered on 28 December 2023. His name no longer appears in the board composition under deed No. 54 of 22 August 2025.[3]
Restructuring at the parent level (2025)
[edit]In February and March 2025 the shareholders of HML and MAS changed through a series of deeds involving two other companies, PT Pusaka Artamas Sentosa (PAS) and PT Pusaka Mutiara Pratama (PMP), while the bank's direct shareholders remained HML and MAS with 50% each.[3]
PT Pusaka Artamas Sentosa was established on 5 August 1998 (deed No. 16, notary Mutia Haryani; approved on 5 January 1999) and domiciled in Surabaya, with authorized capital of Rp 1 billion and paid-up capital of Rp 250 million (250 shares with a nominal value of Rp 1 million). Its founding shareholders were Henry Susilowidjojo (200 shares; director), Chen Shun Chu (49 shares; president commissioner) and Shinta Dewi (1 share; commissioner). In the 2012 register entry (deed No. 9 of 28 March 2012) the third shareholder was recorded as Ivan Susilowidjojo Young (1 share, no board position), and Chen Shun Chu as commissioner. The board was reappointed on 27 March 2019 (deed No. 15). Until 27 February 2025 PAS was not recorded as holding shares in HML, MAS or the bank.[7]
PT Pusaka Mutiara Pratama was established on 7 March 2025 (deed No. 22, notary Anita Anggawidjaja; approved on 12 March 2025) and domiciled in Surabaya, with authorized capital of Rp 2 billion and paid-up capital of Rp 500 million (5,000 shares with a nominal value of Rp 100,000). Its founding shareholders were Henry Susilowidjojo (2,490 shares; 49.8%; president director), Chen Shun Chu (2,460 shares; 49.2%; commissioner) and Sherry Susilowidjojo Young (50 shares; 1.0%; director). No shareholder of PMP held more than 50% of its shares.[8]
| Deed date | Deed and notary | Event | SABH registration |
|---|---|---|---|
| 27 February 2025 | No. 27, Sophia Imelda | PAS: reappointment of its board (Henry Susilowidjojo as director, Chen Shun Chu as commissioner); shareholding unchanged at Henry Susilowidjojo 200, Chen Shun Chu 49, Ivan Susilowidjojo Young 1 | Notification receipt AHU-AH.01.09-0139092, 13 March 2025 |
| 28 February 2025 | No. 29 (HML) and No. 31 (MAS), Sophia Imelda | Henry Susilowidjojo transferred all of his shares, namely 104,895 HML shares and 104,894 MAS shares, to PAS. Susilis Tria Dewi retained 105 HML shares and 106 MAS shares; Henry Susilowidjojo remained director of HML and commissioner of MAS | Notification receipts AHU-AH.01.09-0139537 (HML) and AHU-AH.01.09-0139522 (MAS), 13 March 2025 |
| 7 March 2025 | No. 22, Anita Anggawidjaja | Establishment of PMP | Approval decree AHU-0021284.AH.01.01.Tahun 2025, 12 March 2025 |
| 21 March 2025 | No. 58, Anita Anggawidjaja | Henry Susilowidjojo transferred 180 PAS shares to PMP; Ivan Susilowidjojo Young transferred 1 PAS share to Chen Shun Chu | Notification receipt AHU-AH.01.09-0172671, 27 March 2025 |
The first three notifications were registered in SABH on the same day, 13 March 2025, in ascending order under numbers AHU-AH.01.09-0139092 (PAS), AHU-AH.01.09-0139522 (MAS) and AHU-AH.01.09-0139537 (HML), one day after PMP was approved. The transfer of PAS shares on 21 March 2025 was registered six days later.[5][6][7][8]
| Shareholder | Before | After | Change |
|---|---|---|---|
| Henry Susilowidjojo | 200 (80%) | 20 (8%) | −180 |
| Chen Shun Chu | 49 (19.6%) | 50 (20%) | +1 |
| Ivan Susilowidjojo Young | 1 (0.4%) | – | −1 |
| PT Pusaka Mutiara Pratama | – | 180 (72%) | +180 |
| Total | 250 | 250 | 0 |
After the restructuring, Henry Susilowidjojo served as director of PAS and president director of PMP, Chen Shun Chu as commissioner of both companies, and Sherry Susilowidjojo Young as director of PMP. Henry Susilowidjojo also remained director of HML and commissioner of MAS.[5][6][7][8]
Ownership structure by period
[edit]| Entity | Until 27 February 2025 | 28 February – 20 March 2025 | From 21 March 2025 until dissolution |
|---|---|---|---|
| Prima Master Bank | HML 50%; MAS 50% | HML 50%; MAS 50% | HML 50%; MAS 50% |
| HML | Henry Susilowidjojo 99.900%; Susilis Tria Dewi 0.100% | PAS 99.900%; Susilis Tria Dewi 0.100% | PAS 99.900%; Susilis Tria Dewi 0.100% |
| MAS | Henry Susilowidjojo 99.899%; Susilis Tria Dewi 0.101% | PAS 99.899%; Susilis Tria Dewi 0.101% | PAS 99.899%; Susilis Tria Dewi 0.101% |
| PAS | Henry Susilowidjojo 80%; Chen Shun Chu 19.6%; Ivan Susilowidjojo Young 0.4% (no shares in HML or MAS) | Henry Susilowidjojo 80%; Chen Shun Chu 19.6%; Ivan Susilowidjojo Young 0.4% | PMP 72%; Chen Shun Chu 20%; Henry Susilowidjojo 8% |
| PMP | not yet established | established 7 March 2025; no shares in PAS | Henry Susilowidjojo 49.8%; Chen Shun Chu 49.2%; Sherry Susilowidjojo Young 1.0% |
Effective ownership
[edit]The table below shows indirect economic ownership of the bank, calculated from the number of shares recorded at each level; the figures are not a measure of voting rights or control.[f][3][5][6][7][8]
| Holder | Until 27 February 2025 | 28 February – 20 March 2025 | From 21 March 2025 |
|---|---|---|---|
| Henry Susilowidjojo | 99.90% | 79.92% | 43.81% |
| Chen Shun Chu | – | 19.58% | 55.37% |
| Sherry Susilowidjojo Young | – | – | 0.72% |
| Ivan Susilowidjojo Young | – | 0.40% | – |
| Susilis Tria Dewi | 0.10% | 0.10% | 0.10% |
| Total | 100.00% | 100.00% | 100.00% |
Shareholders holding board positions
[edit]| Name | Company | Position | Shareholding and remarks |
|---|---|---|---|
| Henry Susilowidjojo | HML | Director (recorded from 1997) | 12% (1997 – June 2007); 99.9% (September 2007 – 27 February 2025); remained in office after transferring all of his shares on 28 February 2025 |
| MAS | Commissioner (recorded from 1997) | 12% (1997 – June 2007); 99.9% (September 2007 – 27 February 2025); remained in office after transferring all of his shares on 28 February 2025 | |
| PAS | Director from 1998 | 200 shares (80%) until 20 March 2025; 20 shares (8%) from 21 March 2025 | |
| PMP | President director from 7 March 2025 | 2,490 shares (49.8%) | |
| Prima Master Bank | Commissioner, December 2023 – 2025 | not a direct shareholder of the bank | |
| Susilis Tria Dewi | HML | Commissioner from September 2007 | 41 to 105 shares (0.1%) |
| MAS | Director from 15 June 2007 | 41 to 106 shares (0.1%) | |
| Chen Shun Chu | PAS | President commissioner (1998), commissioner (from 2012) | 49 shares (19.6%) until 20 March 2025; 50 shares (20%) from 21 March 2025 |
| PMP | Commissioner from 7 March 2025 | 2,460 shares (49.2%) | |
| Sherry Susilowidjojo Young | PMP | Director from 7 March 2025 | 50 shares (1.0%) |
| Njono Tirtawidjaja | HML and MAS | Commissioner of HML and director of MAS (1997) | 250 shares (10%) in 1997; not recorded in June 2007 |
| David Siemens Kurniawan | HML | Commissioner (June 2007) | 300 shares (12%) in 1997; 1,200 shares (12%) in June 2007 |
| Njoo Steven Tirtowidjojo | MAS | Director under deed No. 21 (15 June 2007); replaced on the same day | 300 shares (12%) in 1997; 1,200 shares (12%) in June 2007 |
Reported beneficial owners
[edit]The beneficial owner data reported to the Directorate General of General Legal Administration for the bank and the four companies in its ownership chain, as publicly accessible in September 2026, are set out below. The data are self-reported by the filing party.[9]
| Company | Reported beneficial owner | Reported criterion | Shareholders per register (from 2025) |
|---|---|---|---|
| Prima Master Bank | PT Hartamas Lestari; PT Multi Artacipta Serasi[g] | Holds more than 25% of the shares, voting rights and profits | PT Hartamas Lestari 50%; PT Multi Artacipta Serasi 50% |
| PT Hartamas Lestari | Henry Susilowidjojo | Holds more than 25% of the shares | PT Pusaka Artamas Sentosa 99.900%; Susilis Tria Dewi 0.100% |
| PT Multi Artacipta Serasi | Henry Susilowidjojo | Holds more than 25% of the shares | PT Pusaka Artamas Sentosa 99.899%; Susilis Tria Dewi 0.101% |
| PT Pusaka Artamas Sentosa | Henry Susilowidjojo | Receives benefits from the company | PT Pusaka Mutiara Pratama 72%; Chen Shun Chu 20%; Henry Susilowidjojo 8% |
| PT Pusaka Mutiara Pratama | Sherry Susilowidjojo Young | Has the authority to influence or control the company without authorization from any other party | Henry Susilowidjojo 49.8%; Chen Shun Chu 49.2%; Sherry Susilowidjojo Young 1.0% |
Chen Shun Chu is not listed as a beneficial owner of any of the five companies.[9]
Management
[edit]| Name | December 2013 | July 2019 | September 2022 | December 2023 | August 2025 – dissolution |
|---|---|---|---|---|---|
| Gita Riady | President Commissioner | President Commissioner | – | – | – |
| Raden Theodorus Maria Pramudito Nugroho | Commissioner | Commissioner | – | – | – |
| Andy Wongsonegoro | Commissioner | Commissioner | Commissioner | Commissioner | Commissioner |
| Josef Andreanus Nae Soi | – | – | – | President Commissioner | President Commissioner |
| Henry Susilowidjojo | – | – | – | Commissioner | – |
| Djaki Edward Djajaatmadja | President Director | President Director | President Director | President Director | President Director |
| Agustinus T. Prawoto | Director | – | – | – | – |
| Edhi Hartanto Anggono | Compliance Director | Director | Director | Director | Director |
| Yohana Erlianie | – | Director | Director | – | – |
| Erlianie Soethiono | – | – | – | Director | Director |
Since the revocation of its business license on 27 January 2026, the settlement of the bank's rights and obligations has been carried out by a liquidation team formed by the LPS.[2][4]
Products and services
[edit]Before its license was revoked, the bank offered the following products and services:
- Master Saving
- Master Pro
- Master Plus
- Master Account
- Master Deposit
- Master CD
- Overdraft loans (Pinjaman Rekening Koran)
- X-Tra fixed loans
- X-Tra On Demand fixed loans
- Installment loans
- Motor vehicle loans
- Multipurpose loans
- Bank guarantees
- Transfers
- Collections
- Payroll services
- Telephone bill payments
Notes
[edit]- ↑ Percentages are calculated on a look-through basis from the number of shares recorded in the Directorate General's register; see Effective ownership.
- ↑ Basis for listing as controlling shareholders: Chen Shun Chu – look-through ownership of 55.37%; commissioner of PT Pusaka Artamas Sentosa and PT Pusaka Mutiara Pratama. Henry Susilowidjojo – look-through ownership of 43.81%; director of PT Hartamas Lestari and PT Pusaka Artamas Sentosa, president director of PT Pusaka Mutiara Pratama; reported as the beneficial owner of PT Hartamas Lestari, PT Multi Artacipta Serasi and PT Pusaka Artamas Sentosa;[9] previously recorded as the bank's controlling shareholder.[1] Sherry Susilowidjojo Young – director of PT Pusaka Mutiara Pratama; reported as its beneficial owner under the criterion of having the authority to influence or control the company without authorization from any other party.[9] Susilis Tria Dewi – director of PT Multi Artacipta Serasi (holder of 50% of the bank's shares) and commissioner of PT Hartamas Lestari.[5][6]
- ↑ The SABH register records his name variously as "Henry Susilowidjojo", "Tuan Henry Susilowidjojo", "Njoo Henry Susilowidjojo" and "Njoo, Henry Susilowidjojo".[5][7]
- ↑ The 2005 register entry names the 40% shareholder "PT Multi Artacipta Lestari", whereas later entries use the name PT Multi Artacipta Serasi. The OJK's Indonesian Banking Directory (December 2013 data) also lists it as "PT. Multi Arta Cipta Lestari".[1][3]
- ↑ The entry for deed No. 11 of 27 June 2007 records issued capital of 810,000 shares, while its shareholder list still shows 305,000 : 305,000; the list was updated to 405,000 : 405,000 only in the entry for deed No. 4 of 6 September 2007.[3]
- ↑ Calculated from the number of recorded shares. PAS's share of the bank = 50% × 104,895/105,000 + 50% × 104,894/105,000 = 99.8995%. Susilis Tria Dewi's share = 50% × 105/105,000 + 50% × 106/105,000 = 0.1005%. Before 28 February 2025, the shares later transferred to PAS were held directly by Henry Susilowidjojo, giving him 99.8995%. For later periods, effective ownership = 99.8995% × the holder's share of PAS. Shares of PAS from 28 February to 20 March 2025: Henry Susilowidjojo 80%, Chen Shun Chu 19.6%, Ivan Susilowidjojo Young 0.4%. Look-through shares of PAS from 21 March 2025: Henry Susilowidjojo 8% + (72% × 49.8%) = 43.856%; Chen Shun Chu 20% + (72% × 49.2%) = 55.424%; Sherry Susilowidjojo Young 72% × 1.0% = 0.72%; multiplied by 99.8995%, these give 43.81%, 55.37% and 0.72%. Columns follow deed dates.
- ↑ Presidential Regulation No. 13 of 2018 defines a beneficial owner as a natural person.[33]
References
[edit]- 1 2 3 4 5 6 7 8 9 10 "Data Pokok Posisi Desember 2013: PT Prima Master Bank" [Institutional Data as of December 2013: PT Prima Master Bank] (PDF). Direktori Perbankan Indonesia (in Indonesian). Otoritas Jasa Keuangan.
- 1 2 3 4 5 6 "Pengumuman Nomor PENG-1/KO.14/2026 tentang Pencabutan Izin Usaha PT Bank Perekonomian Rakyat Prima Master Bank" [Announcement No. PENG-1/KO.14/2026 on the Revocation of the Business License of PT Bank Perekonomian Rakyat Prima Master Bank] (in Indonesian). Otoritas Jasa Keuangan. 27 January 2026.
- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Profil Perusahaan PT Bank Perekonomian Rakyat Prima Master Bank [Company Profile of PT Bank Perekonomian Rakyat Prima Master Bank] (in Indonesian). Directorate General of General Legal Administration, Ministry of Law of the Republic of Indonesia (Legal Entity Administration System). Retrieved 18 August 2026.
- 1 2 3 4 "Pengumuman Nomor PENG-4/SEKL/2026 tentang Tindak Lanjut Cabut Izin Usaha PT BPR Prima Master Bank" [Announcement No. PENG-4/SEKL/2026 on the Follow-up to the Revocation of the Business License of PT BPR Prima Master Bank] (in Indonesian). Lembaga Penjamin Simpanan. 27 January 2026.
- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Profil Perusahaan PT Hartamas Lestari [Company Profile of PT Hartamas Lestari] (in Indonesian). Directorate General of General Legal Administration, Ministry of Law of the Republic of Indonesia (Legal Entity Administration System). Retrieved 18 August 2026.
- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Profil Perusahaan PT Multi Artacipta Serasi [Company Profile of PT Multi Artacipta Serasi] (in Indonesian). Directorate General of General Legal Administration, Ministry of Law of the Republic of Indonesia (Legal Entity Administration System). Retrieved 18 August 2026.
- 1 2 3 4 5 6 7 8 9 10 11 Profil Perusahaan PT Pusaka Artamas Sentosa [Company Profile of PT Pusaka Artamas Sentosa] (in Indonesian). Directorate General of General Legal Administration, Ministry of Law of the Republic of Indonesia (Legal Entity Administration System). Retrieved 18 August 2026.
- 1 2 3 4 5 6 7 8 9 Profil Perusahaan PT Pusaka Mutiara Pratama [Company Profile of PT Pusaka Mutiara Pratama] (in Indonesian). Directorate General of General Legal Administration, Ministry of Law of the Republic of Indonesia (Legal Entity Administration System). Retrieved 20 August 2026.
- 1 2 3 4 "Pencarian Profil Pemilik Manfaat: PT Prima Master Bank; PT Hartamas Lestari; PT Multi Artacipta Serasi; PT Pusaka Artamas Sentosa; PT Pusaka Mutiara Pratama" [Beneficial Owner Profile Search: PT Prima Master Bank; PT Hartamas Lestari; PT Multi Artacipta Serasi; PT Pusaka Artamas Sentosa; PT Pusaka Mutiara Pratama] (in Indonesian). Direktorat Jenderal Administrasi Hukum Umum, Kementerian Hukum. Retrieved 25 September 2026.
- 1 2 3 "Siaran Pers SP 05/DHMS/OJK/I/2023: Penetapan Perubahan Izin Usaha Bank Umum Menjadi Izin Usaha Bank Perkreditan Rakyat" [Press Release SP 05/DHMS/OJK/I/2023: Conversion of a Commercial Bank License into a Rural Bank License] (in Indonesian). Otoritas Jasa Keuangan. 9 January 2023.
- 1 2 Anggela, Ni Luh; Pernando, Anggara (28 January 2026). "Bank Prima Bangkrut, Sempat Turun Kasta jadi BPR Hingga Miliki Dana Nasabah Rp1,4 Triliun" [Bank Prima Collapses After Being Downgraded to a BPR, Holding Customer Funds of Rp1.4 Trillion]. Bisnis.com (in Indonesian).
- 1 2 Sekilas Prima Bank [Prima Bank at a Glance] (in Indonesian). Prima Master Bank.
- ↑ Informasi, Vol. 12, Nos. 145–150 (in Indonesian).
- 1 2 Tempo, Vol. 30, Nos. 12–18 (in Indonesian).
- ↑ Buku panduan keuangan & perbankan [Finance and Banking Handbook] (in Indonesian).
- ↑ Indonesia Bank Directory.
- ↑ Dunia Ekuin dan Perbankan, Vol. 20, Nos. 13–14 (in Indonesian).
- 1 2 3 "Asing Hingga BUMN Minati Bank Prima Master, Ini Pemiliknya" [From Foreign Investors to State-Owned Enterprises Interested in Bank Prima Master: Here Are Its Owners]. CNBC Indonesia (in Indonesian). 11 November 2022.
- 1 2 Anggraeni, Rika (10 August 2022). "Profil Prima Bank yang Kabarnya Diincar Bank Mandiri (BMRI)" [Profile of Prima Bank, Reportedly Targeted by Bank Mandiri (BMRI)]. Bisnis.com (in Indonesian).
- 1 2 Bakal Diakuisisi Bank Mandiri, Ini Profil Bank Prima Master [To Be Acquired by Bank Mandiri: A Profile of Bank Prima Master] (in Indonesian). Bisnis Indonesia.
- ↑ "Peraturan OJK No. 12/POJK.03/2020 tentang Konsolidasi Bank Umum" [OJK Regulation No. 12/POJK.03/2020 on the Consolidation of Commercial Banks] (in Indonesian). JDIH BPK RI.
- ↑ Gagal Penuhi Modal Inti Rp3 Triliun, Prima Master Bank Turun Kelas [Failing to Meet Rp3 Trillion Core Capital, Prima Master Bank Is Downgraded] (in Indonesian). Okezone.
- ↑ Laporan Tahunan BPR Prima Master Bank 2023 [BPR Prima Master Bank Annual Report 2023] (in Indonesian).
- ↑ Bank Prima Master Peroleh Perlakuan Khusus [Bank Prima Master Receives Special Treatment] (in Indonesian). Media Indonesia.
- ↑ Decree of the Minister of Law No. AHU-0060440.AH.01.02.Tahun 2025 of 9 September 2025, published in the Supplement to the State Gazette of the Republic of Indonesia (Tambahan Berita Negara Republik Indonesia) No. 78 of 30 September 2025, Supplement No. 27407.
- ↑ Tuntut Pencairan Deposito Rp 1 Triliun, Ratusan Buruh Pakerin Duduki BPR Prima Master Bank [Demanding Release of Rp 1 Trillion in Deposits, Hundreds of Pakerin Workers Occupy BPR Prima Master Bank] (in Indonesian). Jatim Terkini.
- 1 2 Aprilia, Zefanya (28 January 2026). "Nasib Prima Master Bank, Jadi BPR Karena Kurang Modal & Kini Ditutup" [The Fate of Prima Master Bank: Became a BPR for Lack of Capital, Now Closed]. CNBC Indonesia (in Indonesian).
- 1 2 "Pengumuman Nomor PENG-5/SEKL/2026 tentang Pembayaran atas Penetapan Status Penjaminan Simpanan Nasabah Penyimpan PT BPR Prima Master Bank (DL)" [Announcement No. PENG-5/SEKL/2026 on Payment upon Determination of the Guarantee Status of Depositors' Savings at PT BPR Prima Master Bank (in liquidation)] (in Indonesian). Lembaga Penjamin Simpanan. 2 February 2026.
- ↑ "BPR Prima Master Bank Tutup, LPS Bayarkan 88% Klaim Nasabah" [BPR Prima Master Bank Closes; LPS Pays 88% of Customer Claims]. Warta Ekonomi (in Indonesian). 25 February 2026.
- ↑ LPS Bayarkan Klaim Simpanan Nasabah BPR Prima Master Bank Tahap 3 Mulai Hari Ini (8/6) [LPS Pays Third-Stage Deposit Claims of BPR Prima Master Bank from Today (8 June)] (in Indonesian). Bisnis.com.
- ↑ Pengusaha Surabaya Gugat BNI Darmo Indah Terkait Dugaan Penahanan Dana Nasabah [Surabaya Businessman Sues BNI Darmo Indah over Alleged Withholding of Customer Funds] (in Indonesian). Nusantara Abadi News.
- ↑ Dana Nyangkut di Bank Bangkrut, Pabrik Kertas Mau PHK 2.500 Karyawan [Funds Stuck in a Failed Bank, Paper Mill Plans to Lay Off 2,500 Employees] (in Indonesian). CNBC Indonesia.
- ↑ Presidential Regulation of the Republic of Indonesia No. 13 of 2018 on the Application of the Principle of Recognizing the Beneficial Owners of Corporations in the Prevention and Eradication of Money Laundering and Terrorism Financing, Article 1(2).
External links
[edit]- Official website (in Indonesian)
Category:Banks of Indonesia Category:Banks established in 1989 Category:Banks disestablished in 2026 Category:Indonesian companies established in 1989 Category:Companies based in Surabaya
- ↑ "Laporan Keuangan Publikasi Bank Umum". Otoritas Jasa Keuangan. Retrieved 28 February 2026.
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