Bank of America N.A. Jakarta Branch | PT Merrill Lynch Sekuritas Indonesia
It takes the right resources and on-the-ground experience to succeed in Indonesia
About PT Merrill Lynch Sekuritas Indonesia
PT Merrill Lynch Sekuritas Indonesia (“the Company”) was established in Jakarta within the framework of the Foreign Capital Investment Law No. 1 year 1967 based on Deed No. 4 dated 5 December 1994 of Harvey T. Sondak, SH, notary in Jakarta.
On 1 January 2009, Merrill Lynch & Co., Inc., (ML) the former parent of the Company was acquired by Bank of America Corporation (BAC) and as a result, ML continued as a surviving company and become a subsidiary of BAC, until ML was merged with and into BAC on 13 September 2013. Therefore, BAC is the ultimate parent of the Company.
In accordance with article 3 of the Company’s Articles of Association, the scope of its activities is to engage mainly as the securities underwriter.
In its decision letter No. KEP-01/PM/PEE/1996 dated 8 January 1996, the Indonesian Capital Market Supervisory Agency (Bapepam), now Financial Service Authority (OJK), granted the Company a license as underwriter.
The Company’s office is located at Sequis Tower Level 25, Jl. Jend. Sudirman Kav. 71, SCBD (Sudirman Central Business District) Lot 11B Jakarta 12190, Indonesia, (T)+6221.29553888, (F)+6221.29553877
As at 30 January 2020, the members of the Company's Boards of Commissioners and Directors are as follows:
Commissioner: Andrew Briski, Harish Aggrawal
Independent Commissioner: Gyanesh Nigam
President Director: Samuel D. Resowijoyo
Directors : Prijadi, Yaduhu Immanuel
Profile of the Board of Directors
Samuel Darmawan Resowijoyo, President Director
Indonesian citizen, graduated from University of Oregon majored in Economics in 1991. He commenced his career with PT. Asia Equity Jasereh in 1994, and as Head of Dealing of PT Merrill Lynch Indonesia before moved to PT. BNP Paribas Securities Indonesia. In 2012, he moved back again to PT Merrill Lynch Indonesia as the Head of Risk Management function and appointed as the President Director since December 2016.
Indonesian citizen, Director of the Company since 2011. Graduated from STIE YAI in 1995 majored in accounting and started his career at Joseph Susilo & Rekan Public Accountant Firm in 1995 before moved to Deloitte Tax Solution in 1997. Joined PT Merrill Lynch Indonesia in 1997as Finance Manager before be appointed as director of the Company.
Yaduhu Immanuel, Director
Indonesian citizen. Graduated from University of Indonesia with bachelor and master degree in law. Hold doctorate degree from University of Padjajaran in social and political science in 2006. Commenced his career as legal officer in 1994 at PT Ajinomonto Indonesia before moved to Bank Danamon in 1995. In 2007, he moved to PT NISP Sekuritas and continuing his career in capital market with PT Merrill Lynch Indonesia in 2013. He was appointed as Director of the Company since 2016.
Securities Company Representative License Holders
- Samuel Resowijoyo, Indonesian Citizen, the holder of Underwriter representative license (WPEE)
- Yaduhu Immanuel Ndraha, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
- Prijadi, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
- Caroline Meiliana Djuhana, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
- Darryl Hendrawan, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
Organization Chart of PT Merrill Lynch Sekuritas Indonesia
Products and Services
PT Merrill Lynch Sekuritas Indonesia does not facilitate securities repurchase agreement (Repo) transaction
Procedure on Customer Complaint and Reporting of Breaches
To provide service and complaints resolution in the financial services sector.
Procedure Details on Receiving Complaint
- Complaint is an unsatisfactory expression from Consumer, either in verbal or written form, which is caused by loss and/or potential material loss, reasonable and directly to the Consumer due to breach of agreement and/or financial transactions documents which have been agreed.
- The customer provides the complaint to customer complaint service officer in writing supplemented by
- Identity of the Consumers and/or Consumer Representatives: full name, residential address and phone number which may be contacted;
- Special power of attorney;
- Type and date of Financial Transaction; and
- The submitted problem.
- Verbal Complaint will be followed up within 5 (five) business days since the Complaint is received. In the event supporting documents for verbal Complaint is required, Consumer and/or Consumer Representatives will be required to submit the Complaint in writing by enclosing the required supporting documents.
- The Company shall immediately follow up and resolve complaints no later than 20 (twenty) working days since the complaint documents are received completely.
- In the event of certain conditions, the Company may extent the period up to a maximum of 20 (twenty) working days afterward;
- The extension of completion period of the complaint above shall be notified in writing to consumers who filed complaints before the end of period referred to in item 5.
Customer Complaint and Reporting Services
For customer complaint and reporting on breach, please contact:
Complaint Service Team
Tel : +6221.29553888
Fax : +6221.29553877
Email DG MLINDO Complaint Service Team:
Complaint Handling Publication
Function and Policy on Risk Management, Compliance and Internal Audit
For the implementation of internal control in accordance with Otoritas Jasa Keuangan rule No. 57/POJK.04/2017, the Company establishes the function of Risk Management, Compliance and Internal Audit as follow:
The implementation of risk management function of the Company shall at least cover:
- preparation of policy on risk management;
- testing, evaluation, and recommendation of objective improvement for the implementation of risk management system, at least by annually or within more frequent frequency in case there is change of factor affecting the business activity of the Company significantly; and
- monitoring, identification, measurement, and follow up related to any matters related to risk management requiring the attention of the Board of Directors.
The implementation of compliance function of the Company shall at least cover:
- preparation of policy on compliance;
- testing, evaluation, and recommendation of conformance of policy, provisions, system or procedure owned by the Securities Company to the provisions in the legislation at least by annually or in the more frequent frequency in case there is change of factor affecting the business activity of Securities Company significantly;
- monitoring, identification, measurement, and follow up related to any matters related to compliance requiring attention of the Board of Directors.
The implementation of internal audit function of the Company shall at least cover:
- preparation of policy on internal audit;
- preparation and implementation of adequate audit program to entire work units of which the implementation shall take into account the risk degree in each work unit; and
- monitoring, identification, measurement, and follow up related to any matters related to internal audit requiring attention of the Board of Directors.
AGMS Minutes of Meeting Summary
Circular Resolutions of The Sole Shareholder of PT Merrill Lynch Sekuritas Indonesia in Lieu of the Annual General Meeting of Shareholders dated 29 June 2020 has decided the following:
- To approve the Company’s Annual Report and subsequently give full discharge to members of the Board of Directors and the Board of Commissioners of the Company for any actions taken by them within the for the period of the financial year ending December 31, 2019 to the extent such actions are reflected in the books of the Company;
- To approve the distribution and payment of the interim dividend in the aggregate amount of IDR 192,697,000,000 (one hundred ninety two billion six hundred ninety seven million Rupiah) which has been distributed to Merrill Lynch International, LLC, being the sole shareholder of the Company, as proposed by the Board of Directors of the Company by virtue of the Circular Resolution of Board of Directors dated 15 August 2019 as the distribution of dividend for the financial year ended 31 December 2019;
- To approve not to give remuneration of the Board of Directors and honorarium for the Commissioners for year 2020;
further to approve the honorarium for the Independent Commissioner for year 2020 for USD20,000;
- To approve that KAP Tanudiredja, Wibisana, Rintis & Rekan (a member of the PricewaterhouseCoopers network of firms) be appointed as the Company's external auditors for the accounting year 2020 based on the recommendation provided by the Board of Commissioners of which copy is attached to this circular resolution;
- To approve the amended 2020 Business Plan of the Company as proposed and approved by the Board of Directors and attached to the circular resolutions.
- PT Merrill Lynch Sekuritas Indonesia – Audited Financial Report as of 31 December 2020
- PT Merrill Lynch Sekuritas Indonesia – Audited Financial Report as of 31 December 2019
- PT Merrill Lynch Indonesia – Audited Financial Report as of 31 December 2018
- PT Merrill Lynch Indonesia – Audited Financial Report as of 31 December 2017
- PT Merrill Lynch Indonesia – Audited Financial Report as of 31 December 2016
P T Merrill Lynch Sekuritas Indonesia is registered and supervised by the Financial Service Authority of Indonesia