Indonesian Capital Market Directory 2008
Summary of Financial Statement
PT Asuransi Harta Aman Pratama Tbk.
Gedung AHAP Insurance
Jl. Balikpapan Raya No. 6
Phone (021) 634-8760 (Hunting)
Fax (021) 6386-4545, 6386-4480
PT Asuransi Central Asia
Kuan Hay Lin
Tan Kin Lian
Tan Kah Ho
Financial Performance: The Company booked net profit at
IDR1.309 billion in 2007, decreasing from IDR2.157 billion in 2006.
The lower net profit was in line with the higher operational ex-
penses from IDR31.426 billion to IDR43.591 billion.
Brief History: Founded on May 28 1982, the company was
granted approval by the Minster of Justice via Ministerial Decree
No. C2-1325-HT01-01 TH.82, dated September 21 1982, and was
issued Operating License No. KEP/633/MD/1983 by the Minster
of Finance on February 11 the following year. Its operations in the
damage insurance business include damage reinsurance. The com-
pany was set up by the founders of the Harapan Group. This con-
glomerate initially acted as the sole Indonesian agent for sales of
Yamaha Motor products from Japan, but rapidly expanded its
operations to other Asian countries, notably Singapore and Hong
Kong. The Harapan Group diversified not only into the currency
exchange business, but also into international trade, industry, and
property development. The group also controlled two financial
institutions, PT Bank Harapan Sentosa (Bank BHS) and PT Bank
Pasar Gunung Kencana (Bank Guna), both of which have since
gone into liquidation. Its expertise in the insurance business was
gained from technical assistance provided by Asia Insurance Co.
Ltd. of Hong Kong from the time the company was first estab-
lished in 1983 up until the end of 1998. Since 1989, the company
has been run exclusively by Indonesian insurance professionals.
Having made a share offering on the Jakarta and Surabaya stock