PT KA Properti Manajemen, hereinafter referred to as “KAI Properti”  or “the Company”, is a Subsidiary of PT Kereta Api Indonesia (Persero) which was established based on an Approval Letter from the State Minister of SOEs No. S535/MBU/2009 dated July 29, 2009, and the Deed of Establishment No. 9 dated September 8, 2009, made before Mrs. Fathiah Helmi, S.H., Notary in Jakarta. The Deed of Establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decree No. AHU 5150.AH.01.01 on October 26, 2009. Since its establishment until this Annual Report has been published, the Company has never replaced or changed its name.

As a Subsidiary of KAI, the Company was established to support the achievement of KAI’s vision and mission by running supporting businesses in the fields of property, construction, trade, as well as maintenance of railroads and bridges. The Company has successfully supported KAI in enhancing railway operational facilities, thereby supporting the Parent Company’s business in the railway transportation sector. This has been achieved through the improvement and upgrading of railway operational infrastructure and KAI’s operational support facilities, including the revitalization of stations and other buildings. On Sumatra Island, the Company supports the long-chain coal train business (babaranjang) by 

building double tracks and other infrastructure to increase the intensity of babaranjang railroads in South Sumatra. In the property sector, the Company has successfully optimized KAI’s assets for commercial purposes in its property products, including KAI Terrace (F&B Business), KAI Lifestyle (Retail & Commercial), KAI Living (Hospitality), and KAI Residential (Residential), at various 

strategic KAI asset locations.

Since its establishment, the Company has done several amendments to the Articles of Association. The latest amendment was based on the Circular Statement Deed of Shareholder Resolutions No. 47 dated August 21, 2023 of notary Dini Lastari Siburian, S.H., M.Kn., in Jakarta, regarding changes in aims and  objectives as well as business activities and duties, authorities,  and the obligations of the directors. The amendment to the Company’s Articles of Association was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decree No. AHU-0049244.AH.01.02 of 2023, August 22, 2023