JAKARTA - PT Summit Auto Group (SAG) and Sumitomo Mitsui Banking Corporation (SMBC) will transfer their ownership in PT Oto Multiartha (OTMA) to PT Bank BTPN Tbk (BTPN). This bank issuer is a subsidiary of SAG and SMBC.

Putu Aryan Darma Sukerta, Deputy Corporate Secretary of PT Oto Multiartha said that the share transfer will be carried out after approval from the Financial Services Authority (OJK). "The composition of shareholders will consist of BTPN 51%, SAG 34%, and PT Sinar Mas Multiartha Tbk 15%," he said in an information disclosure quoted Monday (11/12).

According to him, the change in share ownership composition in Oto Multiartha is to strengthen the business and performance, including business expansion plans.

In the second quarter of 2023, OTMA's total revenue was recorded at IDR 1.07 trillion, up from the same period in 2022 of IDR 859.03 billion. Revenue contributions from related parties were recorded at IDR 1.02 trillion and other revenue (related parties and third parties) IDR 49.8 billion.

This issuer's profit fell to IDR 16.66 billion from IDR 119.42 billion. This decrease was related to the increase in total expenses to IDR 1.05 trillion from IDR 692.38 billion. (LK/LM)