Securitization Services
Aktivitas Sekuritisasi
🏦 Section K — Financial & Insurance Activities
In Bali: a PT PMA cannot register this code
National procedure — does not apply to a PT PMA in Bali
In Bali this activity is blocked for a PT PMA under the 13 May 2026 moratorium. The national procedure below applies only to non-PMA operators.
Securitisation Is Open Nationally, but Not for Bali PMA Registration
Securitisation is nationally open to 100% foreign ownership, but Bali’s permanent PMA moratorium stops registration at a Bali address.
National openness and a 100% foreign-ownership ceiling do not create a PMA registration route for this activity at a Bali address.
KBLI 2020→2025 mapping: code renumbered.
What You Need
Who This Is For
Foreign financial institutions or asset managers looking to structure and issue asset-backed securities or securitize loan portfolios.
Regulatory Divergence
The licensing previously shown for 64940 was removed because its source could not be verified as applying to this activity. Here is what the sources actually say — with citations.
Correction note — verbatim, with source locators
KBLI 2025 code 64940 'Aktivitas Sekuritisasi' (securitization activities — issuing debt instruments whose coupon and principal payments are backed by specific assets or future income streams not originating from the issuing unit; the code's own uraian explicitly names 'aktivitas sekuritisasi kredit rumah (KPR) oleh perusahaan pembiayaan sekunder perumahan' — securitization of home-mortgage credit BY secondary housing-finance companies — as an in-scope activity, verified this session) carries canonical status_mapping='CODICE_RINUMERATO', kbli_2020_source='53201', pp28_sources=['53201'], mapping_note "PP28 usa codice KBLI 2020 53201 (Aktivitas Kurir...). Match: 76%" — the cited 2020 source, 53201 'Aktivitas Kurir' (COURIER activities), is a wholly unrelated business line, cited at only 76% match confidence. The Lot 3 conductor gate (§2, the flagship wrong-parent case) verified BY EYE the BPS Vol.2 Lampiran 10 reverse table (printed p.399, render lampiran10_p413-413.png): a single row reads '64940-2025 "Aktivitas Sekuritisasi" <- 64992-2020 "Perusahaan Pembiayaan Sekunder Perumahan"' (secondary housing-finance company) — the TRUE single parent, directly corroborated by this code's own uraian text naming that exact activity ('perusahaan pembiayaan sekunder perumahan') as in-scope, independent of the image read. The cited kbli_2020_source=53201 (courier) is FALSE, the same wrong-parent defect class documented for KBLI code 10433 in an earlier lot. This cure does NOT rewrite kbli_2020_source or pp28_sources to 64992: the compiler (scripts/kbli_filiera/cure_canonical_collisions.py) has no kbli_2020_source-correction field, and per the standing Lot 1/2 invariant ('this compiler never authors new source values'), this cure does not add one — the true parent 64992-2020 is recorded HERE as provenance only. status_mapping is NOT corrected either: CODICE_RINUMERATO remains the correct relationship TYPE (a genuine 1:1 renumbering) even once the source number is understood to be wrong — the defect is the cited NUMBER, not the relationship SHAPE, and there is no field to fix the number without inventing one. A D2 re-hunt under the true parent 64992 is scheduled (report §6 item 4) but its outcome feeds a possible FUTURE restore, never an in-gate fill for this cure. per_skala detached; the licensing regime for securitization activities is not retrievable from the pinned sources as hunted. Lot 3 conductor gate (second signing), run wf_c00a9ec4-c61, 2026-07-19.
The detached licensing rows (source unverified for this activity)1 row
These rows were previously shown on this page and have been detached — the correction note above documents, with source locators, why their source could not be kept for the activity this page describes. They are preserved here as the audit trail of the divergence.
Sources & Verification
Each data layer below traces to a government source with its KBLI vintage — or is declared as a gap. Nothing in these layers is silently filled in.
Title and scope as defined by the KBLI-2025 classification.
locator: OSS_RBA_2025_id_version_fff4053d
The previously-served rows were removed because their source could not be verified as applying to this activity. See Regulatory Divergence above for the documented correction note.
The investment-list annexes predate KBLI 2025; the per-code crosswalk audit of this layer is in progress. The value shown is the annex text, disclosed with its vintage.
Conservative posture derived from the risk tier · confidence LOW.
Dataset last updated 2026-07-26 · KBLI 2020 and KBLI 2025 reuse code numbers for different activities — cross-vintage rows are labeled, never merged silently.
Can foreigners operate a securitization services business in Indonesia?
What license is required for KBLI 64940?
What is KBLI 64940?
How did KBLI 64940 change from KBLI 2020 to 2025?
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