JAKARTA — A significant shift in the shareholder structure of PT Bakrie & Brothers Tbk. (BNBR) has emerged with UOB Kay Hian Pte. Ltd. quietly acquiring a substantial stake. The Singapore-based investment firm has now joined the ranks of BNBR’s major shareholders, holding over 5% of the company’s shares. According to data from PT EDI Indonesia’s Securities Administration Bureau as of October 8, 2025, UOB Kay Hian Pte. Ltd. is recorded as owning a remarkable 14,685,041,055 shares, equivalent to 14.68 billion shares, representing 8.46% of BNBR’s total outstanding stock. This development marks a notable entry, as the foreign company, headquartered at 8 Anthony Road, Singapore, previously held no shares in BNBR.
This significant entry by UOB Kay Hian coincides with a corresponding reduction in the BNBR shareholding of Levoca Enterprice Ltd. Levoca’s stake has notably shrunk from 27.89 billion shares, or 16.08%, down to 13.21 billion shares, now representing 7.62% of the company. This adjustment suggests a potential rebalancing of major investor positions within BNBR.
With its newfound stake, UOB Kay Hian Pte. Ltd. now joins an exclusive group of significant shareholders in PT Bakrie & Brothers Tbk. These entities each hold more than a 5% ownership interest. Detailed figures reveal the composition of these major investors: Port Fraser International Ltd. holds the largest share at 26.73%, followed by Fountain City Investment Ltd. with 22.16%. Levoca Enterprice Ltd., despite its reduced holding, maintains a 7.62% stake, while Eurofa Capital Investment Inc. accounts for 6.75% of BNBR’s shares.
Intriguingly, aside from UOB Kay Hian, many of these prominent BNBR shareholders are domiciled in jurisdictions commonly identified as tax havens. Specifically, Levoca Enterprice Ltd., Port Fraser International Ltd., and Fountain City Investment Ltd. all list their addresses in Ajeltake Island, Majuro, Marshall Islands—a location widely recognized for its favorable tax regulations. This geographic concentration suggests a particular investment strategy among these major stakeholders.
Summary
UOB Kay Hian Pte. Ltd., a Singapore-based investment firm, has acquired a significant 8.46% stake in PT Bakrie & Brothers Tbk. (BNBR), totaling 14.68 billion shares, as of October 8, 2025. This entry makes them a major shareholder, having previously held no shares in BNBR. This new position coincides with a substantial reduction in the shareholding of Levoca Enterprice Ltd.
Levoca Enterprice Ltd.’s stake in BNBR decreased from 16.08% to 7.62%, suggesting a rebalancing among key investors. UOB Kay Hian now joins a group of significant shareholders, which also includes Port Fraser International Ltd. (26.73%) and Fountain City Investment Ltd. (22.16%). Notably, several of BNBR’s prominent shareholders, including Levoca, are domiciled in jurisdictions recognized as tax havens.