JAKARTA – The shareholders of PT Intan Baru Prana Tbk (IBFN) agreed upon the company’s decision to shift its business to a sub-dealer of commercial vehicles (trucks). This business shift is a response to the revocation of IBFN’s leasing license by Financial Services Authority (OJK) in 2022.

In the information disclosure quoted Friday (17/2), Alexander Reyza, Director of Intan Baru Prana, confirmed that this business shift has gained approval of the representatives of 1.09 billion shares, equal to approximately 72.3% of IBFN’s total issued shares. This approval was obtained during the Extraordinary General Shareholders Meeting held two weeks ago, on February 2, 2023.

This agreement will support IBFN’s decision to redirect its business to truck sales. In December 2022, IBFN had initiated a sub-dealer agreement with PT Pratama Wana Motors (PWM), an affiliate of INTA Group.

After its leasing license got revoked, IBFN still reportedly managed its rights over the billings of financing contracts with its debtors, which had been signed prior to the license revocation. (LK/ZH)