Profil PT Bussan Auto Finance (BAF)

Profil Perusahaan / Lembaga - PT. Bussan Auto Finance (BAF)
Deskripsi Perusahaan / Kelembagaan

Today BAF has more than 190 branches and no less than 142 POS (point of service) in Indonesia, and employs more than 10,000 people. Total number of consumers who have and are being funded by BAF has reached more than 4 million people. During 2009, the BAF financed more than 714 thousand units of new motor vehicles. The total assets of over 10 trillion dollars.

PT Bussan Auto Finance (“the Company”) was established in 1995 named as PT Pembiayaan Getraco Indonesia, a Company which was operated in financing business and Joint Venture among PT Danamon Sanggrahan, Mitsui & Co. Ltd., Yamaha Motor Co., Ltd., and PT Yamaha Motor Kencana Indonesia in 1997 focusing on financing for new Yamaha-brand motorcycle. The Company had its name changed into PT Danamon Mits Otomotif Finance and every September 24, 1997 is commemorated as anniversary of the Company until today. In 1998, Mitsui & Co., Ltd. purchased entire shares of PT Danamon Sanggrahan where Mitsui & Co., Ltd. Becomes majority shareholders with 75% ownership, while remaining shares are owned by PT Lenggara Gunasejahtera (15%), Yamaha Motor Co., Ltd., Japan (7%) and PT Yamaha Motor Kencana Indonesia (3%). As consequence of the acquisition, the Company had its name changed into PT Bussan Auto Finance and sustained its business focus in financing new Yamaha-brand motorcycle.

In 2004, the entire shares owned by PT Lenggara Gunasejahtera were sold to PT Mitsui Indonesia. In 2013, the Company increased its capital by issuing new shares which entirely purchased by PT Ciptadana Capital, an affiliated Company of Lippo Group and Yamaha. In 2018, Mitsui & Co., Ltd. increased its shares ownership by acquiring the entire shares ownership of PT Ciptadana Capital. Therefore, the ownership of Mitsui & Co., Ltd. increased to 68.3% In 2019, all of the Company’s shares owned by PT Mitsui Indonesia of 41,250 shares and part of the Company’s shares owned by Mitsui & Co. Ltd. Of 11,786 shares were bought by PT Sinergi Autoindo Abadi. The shares sale and transfer transaction caused a change in the Company’s shares ownership into as follows, Mitsui & Co., Ltd. held 65.0%, Yamaha Motor Co., Ltd. held 17.7%, PT Yamaha Indonesia Motor Manufacturing held 2.3%, and PT Sinergi Autoindo Abadi held 15.0%.

With regards to the composition change, the Company has fulfilled provisions in the Article 10 OJK Regulation No. 28/POJK.05/2014 concerning Business and Institutional Permit for Financing Company, where total foreign ownership, both directly and indirectly, in financing company is maximum 85% of the paid-up capital. As public needs are growing and expanded, the Company continuously innovates to become the financing solution for the society needs. The Company further expanded range of its products, not only providing financing service/ facility for new Yamaha-brand motorcycle but also financing used multibrands motorcycle, Sharia Funds as a sharia based financing product, multiproduct financing including electronics and households equipment, and financing for agricultural machineries as well as new multi-brands fourwheel financing.

Business activity of the Company is growing and as of December 31, 2019, the Company has been operated in 246 locations across Indonesia comprising of 91 branch offices and 55 point of services (“POS”) as well as supported by 6.423 employees. The Company has also expanded its service points by opening installment payment points via third-party cooperation including with banking service network, retail outlet and electronic payment platform. The Company is registered in Indonesia Financing Company Association (APPI) and Credit Bureau. In running its business, the Company is registered and supervised by Financial Service Authority (OJK).

VISION
To be a leading and trusted finance company for the customer, business partner and society.

MISION
To provide best financial solution to enrich people’s life.