Struktur Entitas (Two-Tier Structure – Best Practice)

Building integrated industrial parks and managing property investments.

Holding Level (Offshore / Regional Hub)

Katibung Industrial Holdings Pte. Ltd.

• Lokasi umum: Singapore / DIFC / HK

• Fungsi:

  • Penempatan modal asing

  • Perlindungan treaty

  • Exit & fund recycling

  • USD-based reporting

Operating SPV (Onshore – Indonesia)

PT Kawasan Industri Katibung

• Pemegang konsesi & aset

• Pengelola lahan & operasional

• Penerima revenue

|Pemegang Saham | Kepemilikan |

| --------------------------- | --------------------- |

| Offs Holding (Foreign Invst ) | 49% |

| BUMN / BUMD / Gov-linked Entity | 25 – 30% |

| Developer / Sponsor | 15 – 26% I

📌 49% foreign ownership → aman secara regulasi
📌 Kontrol diperoleh melalui Shareholders Agreement (SHA)

Struktur Kepemilikan (Indicative)Onshore SPV (PT)

KPBU Framework (Government Interface)

Peran Pemerintah

• Penetapan RDTR & PSN

• Dukungan perizinan & OSS

• Infrastruktur akses utama

• Regulatory stability support

Peran SPV

• Land acquisition & development

• Industrial estate operation

• Marketing & leasing

• Environmental compliance

➡️ KPBU non-availability payment
➡️ Revenue sepenuhnya market-driven

Capital Stack (USD-based, Investor Friendly)

| Sumber | Porsi |

| -------------------------- | ---------------- ------- |

| Equity (USD) | 30 – 40% |

| Senior Debt | 50 – 60% |

|Mezz / Subordinated | 0 – 10% |

Potential Lenders

• IFC / ADB / AIIB

• International commercial banks

• Export credit agencies (ECA)

Governance & Control (Investor Protection)

Key Protections untuk Foreign Investor

✔ Reserved matters (veto rights)
✔ Board representation
✔ Supermajority voting
✔ Information & audit rights
✔ Change of control protection

📌 Kontrol ekonomi & strategis ≠ kepemilikan mayoritas