January 19, 1976
PT Selamat Sempurna Tbk. (the "Company") was established in Indonesia.
The Company acquired share in ownership in PT Andhi Chandra Automotive Products (ACAP). Furthermore in year 1995, the Company also engaged in investment activity by participated in PT Panata Jaya Mandiri, a joint venture company with Donaldson Company Inc, USA.
The Company listed its shares in Jakarta and Surabaya Stock Exchange (now Indonesia Stock Exchange) so the public can participate in owning the Company’s shares.
The Company obtained its effective statement from BAPEPAM to offer debt securities (bond payable) to the public with nominal value of Rp. 100 Billion, which were listed at the Surabaya Stock Exchange on July 31, 2000 and based on the rating result from PT Pemeringkat Efek Indonesia (Pefindo), the Bonds are categorized as "id A" (stable outlook).
ACAP had initially offered a portion of its shares to the public through Jakarta stock Exchange.
In order to continuously support the Company’s development plan, by the end of year 2000, the Company has been established and built Training Center, a human resources development facility to provide reliable technical and management personnel.
The Company started its new production facility for filtration product located at Curug, Tangerang.
The Company expanded its warehouse to the new central warehouse with total of 10.000 m2 area in Tangerang Banten.
The Company had fully paid the debt securities (bond payable), in which before the settlement of bonds payable, Pefindo, in April 2005 has upgraded the rating of the bonds securities issued by the Company from "id A" to "id A+".
The Company, in its investing activities, participated in the establishment of PT International Steel Indonesia (ISI), a joint venture company with Daewoo International Corporation, Korea, which engaged in steel processing industry.
As a part of continuous efforts and in order to increase future corporate value for stakeholders, the Boards of Commissioners and Board of Directors of the Company and ACAP have decided to merge ACAP and the Company into one integrated entity as PT Selamat Sempurna Tbk (Surviving Company).
Based on Share Purchase Agreement, POSCO (Korea), third party, acquired 65% of the issued and paid up capital from the existing shareholders of ISI, including 25% the Company’s share ownership in ISI, therefore the composition of the new ISI shareholders become POSCO, Daewoo International Corporation and the Company. Furthermore ISI changed its name to PT POSCO Indonesia Jakarta Processing Centre.
The Company issued Selamat Sempurna II Year 2010 Bonds Payable with fixed rate, rated "id AA-" by Pefindo. The Bonds consist of:
The bond’s total nominal value is Rp. 240 billion, of which each series’s nominal value is Rp. 80 billion. The funds from Public Offering of Bonds Payable are utilized to settle The Company’s bank loan and to increase the Company’s working capital, to purchase raw materials, indirect materials, and finished goods.
The Company had fully paid Selamat Sempurna II Year 2010 Bonds Payable with fixed rate – A Series. Prior to the settlement of the bonds payable, in April 2011, the rating of the Company’s bonds is "id AA-" by Pefindo.
In January 2012, the Company entered into a joint venture agreement with Tokyo Radiator MFG.Co., Ltd., (Tokyo Radiator) to incorporate PT Tokyo Radiator Selamat Sempurna (TRSS). TRSS engages in manufacturing of radiators and its related products and domiciled in Tangerang, Indonesia. Until December 31, 2012, the Company had subscribed Rp 5,676,000,000 which represents 33% share ownership of TRSS.
In May 2012, the Company has signed a Share Subscription Agreement related to investment in PT Hydraxle Perkasa (HP), a related party and an entity under common control, to acquire 722,588,000 shares or 49% of the HP’s issued and paid-up capital, with acquisition cost amounted to to Rp. 113,132,316,000. Based on the agreement, the Company also has the option to increase its investment in HP amounted to 60,000,000 shares through the issuance of new shares by HP, at an exercise price of Rp 157 ("Option"), or amounted to Rp 9,420,000,000 after the exercise of the option by the Company, the Company’s investment in HP will become 51% of the HP’s issued and paid-up capital. The term of option is 8 (eight) months from the date the Shares Subscription Agreement (May 1, 2012) until December 31, 2012. The Company has exercised the option on August 1, 2012.
In November 2012, based on the Circular Resolution of Shareholders of POSCO-IJPC, the shareholders agreed to, among others, proportionately increase the share capital in POSCO-IJPC by US$ 15,497,976 based on percentage of ownership of each shareholder, in which, the proportion of increase of the Company’s shares ownership in POSCO-IJPC is amounted to US$ 2,324,696.
In February 2013, the Company increased the share capital in TRSS in which the proportion of increase of the Company’s shares is 5.445 shares (Rp. 5.445.000.000) from 5.676 shares (Rp. 5.676.000.000) to 11.121 shares (Rp. 11.121.000.000).
In June 2013, the Company has signed a Share Purchase Agreements with PT Adrindo Intisarana (AIS) and Eddy Hartono (EH) related to Transaction of Share Purchase owned by AIS and EH in PT Prapat Tunggal Cipta and PT Selamat Sempana Perkasa, by the Company.
In July 2013, the Company had fully paid Selamat Sempurna II Year 2010 Bonds Payable with fixed rate-B Series, which prior to the settlement, in April 2013, the rating of the Company’s bonds is "id AA-" by Pefindo.
In August, 2013, the Company has signed a Technical Assistance Agreement with Sueyoshi Kogyo Co.Ltd., Japan regarding the production of Fuel Tank and Hydraulic Tank for Construction Machinery market in Indonesia.
In June 2014, PTC [subsidiary of the Company] signed a Share Purchase Agreements with AIS and EH related to Transaction of Share Purchase owned by AIS and EH in PT Cahaya Mitra Gemilang (CMG).
In Agustus 2014, based on the Circular Resolution of Shareholders of HP (Subsidiary of the Company), the shareholders agreed to, among others, proportionately decrease the share capital in HP by Rp. 45.917.640.000 based on percentage of ownership of each shareholder, in which, the proportion of decrease of the Company’s shares ownership in HP is amounted to Rp. 23.417.640.000,-.
In June 2015, the Company has signed a Share Purchase Agreement related to Share Purchase Transaction in Bradke Synergies Sdn Bhd, the Company registered and incorporated under the laws of Malaysia.
In July 2015, the Company had fully paid Selamat Sempurna II year 2015 Bonds Payable with fixed rate-C Series, which prior to the settlement, in April 2015, the rating of the Company’s bonds is "id AA" by Pefindo.
In October 2015, the Company increased the share capital in TRSS in which the proportion of Increase of the Company’s shares is 10,956 shares (Rp. 10,956,000,000) from 11,121 shares (Rp. 11,121,000,000) to 22,077 shares (Rp. 22,077,000,000).