Mandala Finance Enters Dissolution Phase Following Merger

Background of the Merger and Dissolution

PT Mandala Multifinance Tbk (Mandala Finance) has officially entered the dissolution phase following its merger with PT Adira Dinamika Multi Finance Tbk (Adira Finance). The decision to dissolve was formalized through an announcement in the daily Bisnis Indonesia on November 12, 2025. The process began with an Extraordinary General Meeting of Shareholders on June 30, 2025, which approved the appointment of the liquidation team.

Key Steps in the Dissolution Process

1. The Financial Services Authority (OJK) revoked Mandala Finance's business license effective October 1, 2025, as stated in OJK's letter No. KEP-55/D.06/2025 dated October 2, 2025.
2. The liquidation team, approved by OJK through letter No. S-446/PL.11/2025 dated October 28, 2025, consists of Roberto AK Un, Josefina Agatha Syukur, and Lindawati Soetopo.
3. Creditors are required to submit their claims within 60 working days from the announcement date to the liquidator's office located at Jalan Menteng Raya No. 24 A-B, Jakarta Pusat.

Implications of the Dissolution

The merger between Mandala Finance and Adira Finance marks a significant consolidation in the financing sector. The dissolution of Mandala Finance is a strategic step to streamline operations and strengthen Adira Finance's position in the market. Stakeholders are advised to follow the formal claims process to ensure their interests are recognized during the liquidation.