PT STAR PACIFIC Tbk (“the Company”) was initially founded under the name of PT Asuransi Lippo Jiwa Sakti based on Deed of Establishment No. 301 dated May 28, 1983, it was then amended with Deed No. 130 dated August 10, 1983, among others are on the changes of the Company name into PT Asuransi Lippo Life, both were signed by Misahardi Wilamarta, S.H., a Notary in Jakarta and has received approval from the Minister of Justice of the Republic of Indonesia based on Decree No. C2-6716.HT.01.01.TH.83 dated October 12, 1983, registered in West Jakarta District Court Office with No. 1211/1983 Not on October 20, 1983 and announced in State Gazette of the Republic of Indonesia No. 49 dated June 19, 1984, Supplement No. 604/1984. The Company’s authorized capital upon establishment was Rp 1,500,000,000 (one billion and five hundred million Rupiah), consisting of 1,500 (one thousand and five hundred) shares with nominal value of Rp 1,000,000 (one million Rupiah) per share.
The Company initially operated as a life insurance company based on Decree of Minister of Finance of the Republic of Indonesia No. 477/KMK.11/1983 dated December 29, 1983. The permit is valid since December 29, 1983 and the Company started its commercial operation since January 1, 1984.
On September 14, 1989, the Company made its Initial Public Offering by offering 1,071,400 (one million and seventy one thousand four hundred) shares with nominal price of Rp 1,000 (one thousand Rupiah) per share to public with initial price of Rp 8,500 (eight thousand and five hundred Rupiah) per share. In regards to the Initial Public Offering, the Company’s Article of Association was completely amended by the Deed of the Minutes of Extraordinary General Meeting of Shareholders No. 9 dated September 4, 1989 and Deed No. 36 dated September 11, 1989, both were signed by Kartini Muljadi, S.H., a Notary in Jakarta and it was approved by Minister of Justice of the Republic of Indonesia based of Decree No. C2-8629.HT.01.04-TH.89 dated September 13, 1989, registered in South Jakarta District Court Office, respectively No. 195/Not/1989/PN.JKT.SEL and No. 794/Not/1989/PN.JKT.SEL on September 20, 1989 and it was announced in State Gazette of the Republic of Indonesia No.83 dated October 17, 1989, Supplement No.2484/1989, among others are regarding the increase of authorized capital from Rp 1,500,000,000 (one billion and five hundred million Rupiah) to Rp 5,000,000,000 (five billion Rupiah) consisting of 5,000,000 (five million) shares with nominal value of Rp1,000 (one thousand Rupiah) per share.
Based on the Resolution of Company’s Extraordinary General Meeting of Shareholders dated January 24, 2000, as specified in the Deed of Resolution of Company’s Meeting No. 34 dated January 24, 2000, signed by Misahardi Wilamarta,S.H., a Notary in Jakarta, amendments were made to Chapter 1 of Company’s Article of Association, the amendment was about the change of Company’s name from PT Asuransi Lippo Life Tbk to PT Asuransi Lippo E-Net Tbk. The data of Amendments Deed of Company’s Article of Association dated January 26, 2000 has been approved by the Minister of Law and Legislation of the Republic of Indonesia based of Decree No. C-1945 HT.01.04.TH.2000 dated February 10, 2000, registered to Company Register in Companies Registration Office of Tangerang District/Municipality with No. 055/BH 10.03/IV/ 2000 and announced in State Gazette of Republic of Indonesia No. 52 dated June 30, 2000, Supplement No. 3377/2000.
The Company’s Article of Association have been amended several times, based on Deed of Resolution of Company’s Extraordinary General Meeting of Shareholders No. 87 dated June 23, 2000, signed by Misahardi Wilamarta, S.H., a Notary in Jakarta, the Articles of Association was amended with regards to change of the Company’s name into PT Lippo E-Net Tbk and change of the Company’s business activities from life insurance to company in service, information technology and business management/development and company management. The Amendment Deed has been approved by the Minister of Law and Legislation of the Republic of Indonesia with Decree No. C-22232 HT.01.04-TH.2000 dated October 10, 2000, registered to the Company Register in Companies Registration Office in Tangerang District/Municipality with No. 0179/BH.10.25/XI/2000 and announced in State Gazette of the Republic of Indonesia No. 14 dated February 16, 2001, Supplement No. 1086/2001.
Based on Deed of Resolution of Company’s Meeting No. 126 dated November 28, 2008, signed by DR. Misahardi Wilamarta, S.H., M.H., M.Kn., LL.M., a Notary in Jakarta, Article of Association was amended with regards to the change of Company‘s name to PT Star Pacific Tbk, the addition of Company business activity, which is media business and the capital raising through Limited Public Offering V with Rights issue for 720,236,340 (seven hundred twenty million two hundred and thirty six thousand three hundred and forty) Series C Shares with Nominal Value of Rp 100 (one hundred Rupiah) per share or in total are Rp 72,026,634,000 (seventy two billion twenty six million six hundred and thirty four thousand Rupiah) that was offered with price of Rp139 (one hundred and thirty nine Rupiah) per share. The Amendment Deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia with Decree No. AHU-01525.AH.01.02.Tahun 2009 dated January 8, 2009 on the Approval of Amendment Deed of Company‘s Article of Association, registered in Company Register No. AHU-0001782.AH.01.09.Tahun 2009 dated January 8, 2009 and announced in State Gazette of the Republic of Indonesia No. 17 dated February 27, 2009, Supplement No. 6016/2009.
Based on Deed of Resolution of Company’s Meeting No. 14 dated June 22, 2015, signed by Nurlani Yusup, S.H., M.Kn., a Notary in Tangerang District, with regards to the change several articles of Articles of Association to comply with the Regulation of the Financial Services Authority (“OJK”). The amendments’ report has been received by Minister of Law and Human Rights of the Republic of Indonesia as specified in Letter of Announcement of Company’s Article of Association Amendment No. AHU-AH.01.03-0946176dated June 26, 2015, registered in Company Register No. AHU-3525597.AH.01.11.TAHUN 2015 dated June 26, 2015 and announced in State Gazette of the Republic of Indonesia No. 95 dated November 27, 2015, Supplement No.1805/L/2015.
Based on Deed of Resolution of Company’s Meeting No. 03 dated June 21, 2019, signed by Nurlani Yusup, S.H., M.Kn., a Notary in Tangerang District, Amended Article 3 of the Articles of Association in the context of adjusting to the Head of the Central Bureau of Statistics No. 19 of 2017. The Amendment Deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia with Decree No. AHU-0038900.AH.01.02.Tahun 2019 dated July 18, 2019 on the Approval of Amendment Deed of Company‘s Article of Association, registered in Company Register No. AHU-0113938.AH.01.11.Tahun 2019 dated July 18, 2019.
The Company’s Articles of Association were last amended by the Deed of Statement of Part of the Resolution of the Extraordinary General Meeting of Shareholders of the Company No. 186 dated 31 October 2019, which was made before Sriwi Bawana Nawaksari, SH, M.Kn., Notary in Tangerang Regency, regarding the amendments to Article 1 and Article 3. This amendment deed was approved by the Minister of Law and Human Rights of the Republic of Indonesia with Decree No. AHU-0099720.AH.01.02. 2019 dated November 26, 2019 concerning Approval of Amendments to Company’s Articles of Association, registered in the Register of Company No. AHU-0230797.AH.01.11.YEAR 2019 dated November 26, 2019 and has been received by the Minister of Law and Human Rights of the Republic of Indonesia as specified in Letter of Announcement of Company’s Data Amendment No. AHU-AH.01.03-0366428 dated 29 November 2019, registered in the Company Register No. AHU-0230797.AH.01.11.YEAR 2019 dated 29 November 2019.
Since the Initial Public Offering until the present, Company has conducted 5 (five) Limited Public Offering, which are Limited Public Offering l on 1994, Limited Public Offering II on 1996, Limited Public Offering III on 1997, Limited Public Offering IV on 1999 and Limited Public Offering V on 2008.
Vision and Mission
The Company will continue and maximize its efforts to keep improving its performance. By contuining to relay on investment as the backbone of the business, the Company will continue making an endeavor to strengthened financial structure and increase values for Stakeholders through proactive business strategies in exploring various opportunities which are open in the fields that may provide positive contribution to Company’s business growth in the years to come, by holding to the principles of prudence.
Specially the Company will encourage the entity of a subsidiary Company, PT Multi Media Interaktif, through a mass media under the flag of Berita Satu Media Holdings (“BSMH”) to keep maximizing its performance to increase the product’s brand awareness and improving cost efficiency in the Company’s as well as conducts routine control over its subsidiaries to maintain efficient and effective performance.
Purpose and objectives
In accordance with Article 3 of the Company’s Article of Association, the purpose and objectives of the Company are to consisting of business in field of professional, scientific and technical activities; field of information and communication; and field of real estate. In order to achieve its purpose and objectives, the Company may conducting its business activities as follow:
Main business activities are:
(i) Activities in field of professional, scientific and technical activitieswhich include, among others:
– Other management consultation activities.
(ii) Activities in field of Information and communicationwhich include, among others:
– Publishing newspapers, journals and bulletins or magazines
– Activity of information technology and other computer services.
Supporting business activities are:
(i) Activities in filed of real estate which include, among others:
– Real estate that is owned or leased.
– Real estate on the basis of recompense (fee) or contract.
(ii) Direct and indirect investment in any other company, these activities are to support the Company‘s main business activities. Star Pacific LPLI
In conducting the business, the Company is led and managed by Board of Directors under the supervision of Board of Commissioners. In carrying out its duties, Board of Commissioners and the Board of Directors in their respective capacity are determined to do business in good faith, with transparency, accountability and upholding the principle of Good Corporate Governance (“GCG”) to keep maintaining and protecting the Company’s interests. The determination in implementing those principles is crucial in obtaining and maintaining the confidence and trust from the Shareholders and all Stakeholders.
Corporate Governance Principles
The Company designs its policies and practices based upon the following GCG Principles:
- Transparency
The Company manages information transparently, ensuring that Stakeholders gain access to information usable and important for them. The Company used print and electronic media are provided in order that Stakeholders may access information in a timely fashion.
- Accountability
Accountability is implemented in 3 (three) levels of governance through regular meetings in which the Board of Directors report to the Board of Commissioners on the financial and operational aspects of the Company, operational budgeting prior to the commencement of the financial year and performance evaluation towards the end of the financial year and Annual General Meeting of Shareholders held annually in which the Board of Directors and Board of Commissioners report to Shareholders the results of the year the latest.
- Responsibility
The Company‘s business activities are always carried out in accordance with the laws and regulations through sound corporate management principles and their implementation is not contrary to the public interest.
- Independency
The Company continuously conducts its business in a professional manner and avoids conflicts of interest and pressure from any party that does not comply with applicable laws and regulations and sound corporate principles.
- Fairness
In its relationships with Stakeholders, the Company makes every attempt to engage on the basis of equality and fairness in addressing the rights of all Shareholders and other Stakeholders, with basic approaches grounded in revailing laws and regulations. Star Pacific LPLI
Corporate Social Responsibility is the Company’s activities which are based on the values of humanity and solidarity aimed at improving the quality of human life in the context of comprehensive Indonesian human development that are healthy, educated and dignified.
The role of community in providing support and trust to the Company is essential to support the sustainable development of the Company’s business. Therefore, the Company is commited to have its concern in the efforts to contribute in building a better Indonesian people. As the implementation of such commitment, the Company will participate every possible opportunity to contribute to the lives of the people in the communities which the Company operates. Star Pacific LPLI
Corporate Social Responsibility is the Company’s activities which are based on the values of humanity and solidarity aimed at improving the quality of human life in the context of comprehensive Indonesian human development that are healthy, educated and dignified.
The role of community in providing support and trust to the Company is essential to support the sustainable development of the Company’s business. Therefore, the Company is commited to have its concern in the efforts to contribute in building a better Indonesian people. As the implementation of such commitment, the Company will participate every possible opportunity to contribute to the lives of the people in the communities which the Company operates. Star Pacific LPLI
