PT PANN (Persero) as a ﬁnancial institution experiences various ﬁnancial problems in line with the emergence of the Financial Services Authority (OJK).
So that on January 1, 2013 a spin-off business was conducted, whereby all PT PANN (Persero) ‘s core business activities in the ﬁnancing business sector were transferred to PANN Maritime Finance.
The transfer of assets from PT PANN (Persero) to PANN Maritime Finance that was not going well and the declining condition of the maritime industry further worsened the condition of the company.
2014 – 2017
During 2014 – 2017 there was a restructuring phase and changes in the composition of shareholders in PANN Maritime Finance.
Coinciding on February 23, 2018, the OJK froze PANN Maritime Finance business activities because the ratio of equity to paid-up capital of the company is under the provisions of Article 62 paragraph (10) POJK Number 29 / POJK.05 / 2014 concerning Conducting Financing Company Businesses. Then, on November 28, 2018, OJK revoked the sanction given because PANN Maritime Finance had submitted a fulﬁllment plan approved by the OJK.
PANN Maritime Finance can operate again as a maritime ﬁnancing institution by fulﬁlling all the provisions stipulated with sustainable principles.
The year 2019 was set as the “New Beginning” of PANN Maritime Finance to grow and develop into a maritime ﬁnancing institution