PT Bintang Mitra Semestaraya Tbk (“the Company”) was established on November 16, 1989 based on Notarial Deed No. 240 of Mrs Siti Pertiwi Henny Shidki, S.H., which had been amended by Notarial Deed No. 246 dated May 31, 1991 by the same Notary regarding the change of name from PT Bintang Mahkota Semestaraya into PT Bintang Mitra Semestaraya. The Deed of Establishment and its amendments had been approved by the Minister of Justice of the Republic of Indonesia in the Decree No. C2-4423. HT.01.01.TH.95 dated April 17, 1995 and had been published in the state gazette of the Republic of Indonesia dated September 19, 1997 No. 75, Supplement No. 4209.

The Company's Articles of Association have been amended several times. In 2008, amendments included by Notarial Deed No. 10 of Fathiah Helmi, S.H., dated September 17, 2008 which, among other things, the increase of issued and paid-up capital of the Company and approval of changes in the Company's Articles of Association to conform with the regulations of the Capital Market Supervisory Agency and Financial Institutions (BAPEPAM-LK) No. IX.J.1. regarding the Company's Articles of Association Fundamentals for Public Offering of Equity Securities and Public Companies, which has obtained certificate of receipt of notice from the Minister of Law and Human Rights of the Republic of Indonesia in accordance with the Letter of Acceptance Notice of Amendment of Articles of Association No. AHU-AH.01.10-25241 dated December 15, 2008 and has been registered in the Company Code No. AHU-0121799.AH.01.09 in 2008 exactly on December 15, 2008. 

Based on Notarial Deed No.8 dated June 5, 2015 of Lies Herminingsih, SH shareholders agreed the changes of Company's data (including changes in Board of Commissioners and Directors) and changes of Article of Association, which has been received and recorded by the Minister of Law and Human Rights of the Republik of Indonesia in its letter No  AHU-AH.01.03-0951463 dan No AHU-AH.01.03-0951464  dated June 29, 2015.

Initially, the Company was established and engaged in real estate construction with various business from modest to middle class housing estate, including construction of commercial building.

In 1997, the Company started its real estate business through investment in PT Laksayuda Abadi in the construction of  Brawijaya Apartment located in Blok P, Kebayoran Baru, Jakarta. In 1999, the Company invested in PT Sinar Kompas Utama developing modest real estate named Kompas Indah located in Tambun, Bekasi, West Java. In the same year, the Company also invested in PT Ristia Bintang Mahkotasejati Tbk (RBMS), a public company, developing a middle class real estate named Bintang Metropol in Bekasi, West Java and Mahkota Simprug in Ciledug. In mid 1999, the Company invested in PT Alvita Sunta which is also  engaged in real estate business.

Along with the Company business diversification, in the 3rd quarter of 2008, the Company divested  several non-prospective subsidiaries and associate companies engaged in real estate business such as PT Sinar Kompas Utama, PT Laksayudha Abadi, and PT Alvita Sunta.

On December 5, 2008, the Company entered into a Distribution Agreement with PT Sulfindo Adiusaha, one of the largest chemical producers in Indonesia, as Main Distributor to market and sell chemical products in Indonesia. The phemical products are Caustic Soda (NaOH) Liquid, Caustic Soda (NaOH) Flake, Poly Vinyl Chloride (PVC), Hydrochloric Acid (HCL), Sodium Hypochlorite (NaOCI), Sulfuric Acid, dan  Ethylene Dichloride (EDC). The Company’s performance as Main Distributor has shown a remarkable result, reflecting the management and all employees effort supported by good relationship with the producer and customers.

In the mid 2009, the Company made a major diversification by investing in oil companies such as PT Retco Prima Energi (RPE) operating in Blok Tanjung Miring Timur, Prabumulih, South Sumatera with total area of 61.61 km², PT Binatek Reka Kruh (BRK), operating in Lapangan Minyak Kruh, Pendopo, South Sumatera  with total area of 258.10 km², PT Indama Putera Kayapratama (IPK) located in Lapangan Minyak Kaya, Pendopo, South Sumatera with total area of 78.71 km², and Bittlestone Capital Inc which investing in shares portofolio in oil and gas companies such as Kulczyk Oil Ventures Inc. (Canada), ESK Ltd (British Virgin Island), and Triton Petroleum Pte. Ltd. (Singapore), with various projects in Brunei, Syria, and Ukraine..

After undergoing a thorough evaluation and considering the result of technical review and analysis on the “Subsurface Study of TAC Kaya” 2010 conducted by PT LAPI ITB with respect to Kaya oil field owned by IPK, the subsidiary, the Company was being faced to the facts that Kaya oil field is having complexity and high risk to be developed and exploited which is potentially becoming uneconomical and unprofitable. As the result, the Company made a strategic decision by signing the Sale and Purchase Agreement with PT Bukit Apit Persada, a third party, to sell the entire 108,845 shares of IPK with the transaction value amounting to USD 1,050,000 whereby this agreement has been recorded on the deed of sale and purchase shares No. 77 dated March 16, 2011 of Suwarni Sukiman, SH., notary in Jakarta. Such sales have been publicly disclosed in the newspaper on March 18, 2011. 

On December 2, 2011 the Company sold the entire 62,663,875 shares in PT Ristia Bintang Mahkotasejati Tbk. (“RBMS”) or 19.18% ownership with the transaction value amounting to IDR 5,514,421,000. The Company incurred realized loss on investment amounting to IDR 24,501,575,125.

By reason of business consideration, local and global market condition of oil and gas (1) 20 June 2011 the subsidiary, PT Retco Prima Energy sold their 30% interest in TAC Pertamina to  Goldwater TMT PTE LTD, (2) 3 July 2014 the subsidiary,  PT Binatek Reka Kruh transferred their participating interest in TAC Pertamina to  PT Green World Nusantara.

Article of Association in pdf - download