A company applies for a working-capital facility, and the file already holds audited statements, a bank statement and a copy of the founding deed. Before any of those figures mean anything, you need to know which entity is applying, who can sign for it today and who ultimately controls it. In Indonesia that evidence sits in several places, and how do you put it together without missing a gap?
Each source answers a different part of the question: AHU registry records, OSS licensing data, notarial deeds, beneficial-ownership reports and court records. The work is to read each one for what it can show, and to note what it cannot.
Which entity is applying?
A matching company name is not enough, because names can resemble one another or change over time. Record the identifiers, documents and dates you used, and only then move on to representation, ownership and business activity.
Two government systems serve different purposes here. Ditjen AHU provides corporate administration services, and its published company-profile guide describes searching by company name and obtaining profile information. The OSS system provides business-licensing services and information about the Nomor Induk Berusaha (NIB). An NIB is not interchangeable with an AHU search identifier, and no single record answers every legal question.
Compare the entity name, identifiers and status across documents, and note which records you obtained, their dates and any access limits. Registration establishes identity; repayment capacity is a separate question for the credit analysis.
Reading the deeds in date order
Establishment and amendment deeds record different stages of a company’s history. Review them in sequence, because the founding deed is not a current list of directors or shareholders. For each material change, identify the resolution, the deed and the registration or notification evidence. Where records disagree, show the disagreement and request clarification.
Dates work in both directions. Someone who appears in an old document is not automatically a former director, and an explicit end-date field is not the only evidence of a change. Review the documents that support appointment, replacement or transfer, and seek legal clarification where needed.
Example: PT Mitra Baja Nusantara, a fictitious steel distributor, applies for IDR 5.000.000.000. The 2015 founding deed names Budi as president director, and Budi signs the application. A 2022 amendment deed, together with its notification receipt, appointed someone else to that role. Unless a later document reappoints Budi or gives him authority, the application needs a signature from the current board, and the file should record both deeds and the question raised.
Who ultimately owns or controls the company?
A shareholder register shows legal owners, but it may not show who is really in control. Ownership can run through other companies, which is why beneficial ownership is reviewed separately from the shareholder list.
FATF’s glossary describes a beneficial owner as the natural person who ultimately owns or controls a customer. In Indonesia, OJK’s POJK 8/2023 addresses customer due diligence, including beneficial owners, in its regulated context.
AHU publishes information on access to reported beneficial-ownership data. Ditjen AHU describes the public view as limited and states that reporting parties are responsible for the accuracy of what they submit, so treat the record as information to verify, with attention to its date. Owners and controllers found here are also the starting point for reviewing related-party transactions in the borrower’s accounts.
What do public case records show?
Court case-tracking information and published decisions serve different purposes, so read the actual record: the entity or person named, their role in the case and the procedural status. A name match does not establish identity, and appearing in a record does not establish wrongdoing, since a party may be a claimant, defendant or another participant.
Record which sources you searched. An empty result means no match was found through those searches, not that no relevant proceeding exists.
Writing the KYB conclusion
The checks only help if another reviewer can see what they established. Separate confirmed facts, conflicting records and open questions, and cite the source and date behind each. Limit exposure of personal identifiers and share documents only with authorized reviewers.
Checklist before the file moves on
- Record the entity’s identifiers, the AHU and OSS records obtained, and their dates.
- List the deeds in date order and name the current directors with the supporting document.
- Note beneficial owners separately from shareholders, with the date of the data.
- For each case record, state the identity basis, the role and the status.
- State which sources were searched and what each did not cover.
Sxored helps a reviewer see the evidence behind a company profile and what still needs confirmation; legal and credit judgment stay with the team. Once the entity is confirmed, the next source to read is its credit history, covered in how to read an SLIK OJK report.
