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1PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
A N N U A L R E P O R T2014P T J a s a M a r g a ( P e r s e r o ) T b k
Connectivity for Driving Growth
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2 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
1PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Well-established road infrastructure shall be directly proportional to increasing economic growth. Infrastructure development represents the factor that serves as a fundamental and essential requirement that needs to be considered in economic development plan in order to accomplish the target and goals and to enable the accomplishments as well as expected. In the next five (5) years, the new Indonesian Government has launched infrastructure development as its priority that must be realized in order that Indonesia’s economic potential and resources are capable of providing the highest benefits.
As a toll road investor and operator, Jasa Marga is one of the companies that will have significant role in realizing toll road infrastructure development in the next five (5) years. In accordance with its Mission, the Company realizes and comprehends that with its existence with its business activities as toll road operator and developer, it has the task of accelerating toll road development to support the economic growth program launched by the Government.
Indonesia’s infrastructure present condition remains one factor that hinders investment in areas that actually have economic potential for development. Connectivity among those areas must be realized and the existence of toll roads operated by the Company should benefit toll road users requiring efficient and reliable toll roads so that distribution of goods and services is carried out smoothly while achieving evenly distributed economic development.
Jasa Marga’s experience and expertise in realizing toll road development in Indonesia is the capital to capture the said opportunities. Presently, the development of new toll roads has shown results and has given their share of contribution to Jasa Marga’s revenues. Until the end of 2014, out of 10 new toll road sections in the pipeline, two (2) sections are fully operated, i.e. Bali Mandara Toll Road (Nusa Dua-Ngurah Rai-Benoa) and JORR W2 North Toll Road; three (3) new toll road sections are operated in stages, i.e. Bogor Outer Ring Road, Semarang-Solo and Surabaya-Mojokerto; and two (2) sections, i.e. Gempol-Pandaan and Gempol-Pasuruan, are in the final stage of construction; whereas three (3) sections, i.e. Cengkareng-Kunciran, Kunciran-Serpong and Medan-Kualanamu, are in the stage of land acquisition.
Jasa Marga is leading up to the next growth and, simultaneously, Jasa Marga has begun and is in the stage of business transformation to welcome the wide open opportunity before our eyes. Jasa Marga’s transformation boosts more efficient and swifter business process so that both challenges as well as vast opportunities may be achieved and undertook, hence representing Jasa Marga’s contribution to building Connectivity for driving the Growth of the country’s economy and the Growth the Company.
Connectivity for Driving Growth
2 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Cross Reference to Bapepam-LK Regulation No. X.K.6
No. Subject and Explanation Page
I. General1. Annual Report is to be presented in Indonesian Language. In the event that the
Annual Report is also presented it in another language, either within the same
document or separated, the Annual Report must contain the same information.
In the event that different interpretation occurs due to language translation, the
Annual Report in Indonesian Language is then to be used as the reference.
ü
2. Annual Report is made in such a way that it is easy to read. Images, charts,
tables, and diagrams are presented by stating clear title and/or explanation.
ü
3. Annual Report should be printed in light-colored, good quality, and A4-sized
paper, bound and possible to be reproduced by photocopying.
ü
4. Annual Report is presented on the company’s website. ü
II. Highlights of Financial Data 56-581. Highlights of financial data is presented in comparative form over a period
of three (3) financial years or since the commencement of business if the
company has been running its business activities for less than three (3) years,
and it contains at least:
56-58
1. Revenue. 56-582. Gross Profit. 56-583. Profit (loss). 56-584. Profit (loss) attributable to parent and non-controlling interests. 56-585. Comprehensive profit (loss) 56-586. Comprehensive profit (loss) attributable to parent and non-controlling
interests.56-58
7. Net profit (loss) per share. 56-588. Total assets. 56-589. Total liabilities. 56-5810. Total equity. 56-5811. Profit (loss) to total assets ratio. 56-5812. Profit (loss) to equity ratio. 56-5813. Profit (loss) to revenue ratio. 56-5814. Current ratio. 56-5815. Liabilities to equity ratio. 56-5816. Liabilities to total assets ratio. 56-5817. Other information and ratios relevant to the company and its industry. 56-58
2. Annual Report should present information regarding share for each three-
month period in the last 2 (two) financial years (if any), consisting at least:59-60
1. Outstanding shares. 59-602. Market Capitalization. 59-603. Highest, lowest, and closing share price. 59-604. Traded share volume. 59-605. Traded volume. 59-60
3PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
No. Subject and Explanation Page
3. In the event of corporate actions such as stock split, reverse stock, stock
dividend, bonus share, and par value decrease, share price information referred
to in point (2) should then include explanation concerning among others:
-
1. Date of corporate actions. -2. Ratio of stock split, reverse stock, stock dividend, share bonus, and decrease
in par value.-
3. Amount of outstanding shares before and after corporate actions. -4. Share prices before and after corporate actions. -
4. In the event that the company’s share trade is suspended during the year
reported, the Annual Report should then include explanation concerning the
reason for such suspension.
-
5. In the event that such suspension referred to in point (4) still goes on when
the Annual Report is published, the Issuer of Public Company should then also
explain the actions carried out by the company in solving the matter..
-
III. Board of Commissioners’ ReportReport from the Board of Commissioners contains at least the following:
82-89
1. Assessment on the performance of the Directors in managing the company. 862. View on the prospects of the company’s business established by the Directors. 883. Changes in the composition of the Board of Commissioners and reasons for
such changes (if any).85
IV. Directors’ ReportReport from the Directors contains at least the following:
92-97
1. The company’s performance, consisting of among others strategic policies,
comparison between achievement of results and targets, and challenges faced
by the company.
94
2. Description of business prospects. 963. Implementation of Good Corporate Governance. 964. Changes in the composition of the Board of Directors and reasons for such
changes (if any).97
V. Company ProfileCompany profile contains at least the following:
13-50
1. Name, address, telephone number, facsimile number, email, and website of the
company and/or its branch or representative offices, which enable people to
acquire information on the company.
13
2. Brief history of the company. 163. The company’s business activities in accordance with the latest Articles of
Association, and the products and/or services produced.17
4. Organizational structure of the company presented in the form of a chart, at
least to one level below the Directors, stating name and job title.24
5. Company’s Vision and Mission. 306. Profile of the Board of Commissioners, consisting of: 90-91
4 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
No. Subject and Explanation Page
1. Name. 902. Employment record, work experience, and legal basis of being appointed at
the Issuer of Public Company for the first time, as stipulated in the Official
Report of GMS Resolutions.
90-91, 232
3. Educational background. 90-914. Brief explanation on types of training participated in the fiscal year in order
to improve competencies of the Board of Commissioners (if any).243
5. Disclosure of affiliated relation with members of the Directors, other
members of the Board of Commissioners and the shareholders (if any).237
7. Profile of the Directors, consisting of: 98-991. Name. 98, 2462. Employment record, work experience, and legal basis of being appointed at
the Issuer of Public Company for the first time, as stipulated in the Official
Report of GMS Resolutions.
98-99, 245
3. Educational background. 98-994. Brief explanation on types of training participated in the fiscal year in order
to improve competencies of the Directors (if any).248
5. Disclosure of affiliated relation with other members of the Directors and the
shareholders (if any).237
8. In the event of a change in the composition of the Board of Commissioners
and/or Directors taking place after the fiscal year until the deadline of
Annual Report submission as referred to in point (1) letter a, management
composition stated in the Annual Report is then the composition of the Board
of Commissioners and/or Directors both the latest and the previous one.
-
9. Number of employees and description of competency development, e.g.
employees training and education.32-33,
188-20710. Description of Shareholders and ownership percentage at the end of fiscal year.
Information includes among others:62-65
1. Name of shareholders having 5% or more shares. 652. Directors and Board of Commissioners who own shares. 653. Group of public shareholders each having less than 5% (five percent) share
ownership.65
11. Information concerning major and controlling shareholder, both direct and
indirect, until the individual owner, presented in the form of scheme or diagram.63
12. Names of subsidiaries, associated companies, joint ventures in which Issuer of
Public Company owns control with the entities, along with the percentage of
share ownership, line of business, and operating status of such companies (if
any). For subsidiaries, information on company address should be added.
34-43
13. Chronology of shares listing, changes in the number of shares from the
beginning of listing up to the end of the financial year and name of Stock
Exchange where company shares are listed (if any).
62
14. Chronology of other securities listing and rating of the securities (if any). 6315. Name and address of rating agency (if any). 5016. Names and addresses of institutions and/or capital market supporting
professionals. In the event that capital market supporting professionals provide
services periodically to the Company, there should be information on services
provided, fees and period of assignment.
50
17. Award and certification received by the company, both national and
international scale during the fiscal year (if any).74-79
5PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
No. Subject and Explanation Page
VI. Management Discussion and AnalysisAnnual Report must contain discussion and analysis of Financial Report and other
significant information by emphasizing material changes taking place during the
year under review. It should contain at least:
100-171
1. Operational review by business segment in accordance with the industry.
Description includes among others:106-132
1. Production, which includes process, capacity and its development. 106-1322. Revenue. 106-1323. Profitability. 106-132
2. Analysis on comprehensive financial performance including a comparison
between the financial performance of the current year and that of the previous
year, explanation on the causes of such changes and their impact, which among
others includes:
133-171
1. Current assets, non-current assets, and total assets. 1332. Short-term liabilities, long-term liabilities, and total liabilities. 1433. Equity. 1514. Revenue, expenses and profit (loss), other comprehensive revenue and
comprehensive income (loss).153-160
5. Cash flows. 1613. Capability to pay debts by presenting relevant ratio. 1634. The company’s collectable accounts receivable by presenting relevant ratio. 1635. Capital structure and Management’s policies on the capital structure. 1646. Discussion on material ties for the investment of capital goods with explanation
concerning the purpose of such ties, sources of funds expected to fulfill the
said ties, currency of denomination and steps taken by the company to protect
the position of related foreign currency against risks.
165
7. Material information and facts occurring after the date of accountant’s report. 1658. The company’s business prospects in relation to the industry, economy in
general, and international market, which may be accompanied with supporting
quantitative data from reliable data sources.
165
9. Comparison between target/projection at the beginning of fiscal year and
the realization, which includes revenue, profit, capital structure, and other
information deemed necessary by the Company.
164
10. Target/projection of the Company within the next one year at the longest,
which includes revenue, profit (loss), capital structure, dividend policy, and
other information deemed necessary by the Company.
165
11. Marketing aspects of the company’s products and services, including among
others marketing strategies and market share.166
12. Dividend policy along with the date and amount of dividend per share (cash
and/or non-cash) and amount of dividend per year announced or paid during
the past 2 (two) years.
166
13. Use of Proceeds from public offering: 1671. In the event that during the fiscal year reported, the Company is obliged
to submit Report on Realization of Use of Proceeds, then Annual Report
should disclose accumulated realization of use of proceeds until the end of
the fiscal year.
167
2. In the event that there is a change in the use of proceeds as stipulated in
Regulation No. X.K.4, the Company should then explain such change.-
6 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
No. Subject and Explanation Page
14. Material information concerning, among others investment, expansion,
divestment, merge, acquisition, debt/capital restructuring, affiliated transaction,
and transaction with conflict of interests, taking place during the fiscal year (if
any).
Information includes:
169
1. Date, value and object of transaction. 1692. Name of transacting parties. 1693. Nature of affiliated relation (if any). 1694. Explanation of fairness of transaction. 1695. Compliance with related rules and regulations. 169
15. Description of changes in regulation which have a significant effect on the
company and its impacts on the financial report (if any).170
16. Changes in the accounting policy, rationale and impacts on the financial
statement (if any).170
VII. Corporate GovernanceCorporate governance of the company contains description consisting of at least the
following:
208-349
1. Board of Commissioners, consisting of among others: 232-2441. Description of responsibility of the Board of Commissioners. 2332. Disclosure of procedures, basis of decision, and amount of remuneration for
members of Board of Commissioners.241
3. Disclosure of company policies and the implementation on frequency
of Board of Commissioners meetings, including joint meetings with the
Directors, and attendance of members of Board of Commissioners in such
meetings.
239
2. Directors, consisting of among others: 245-2521. Scope of work and responsibility of each member of the Directors. 2462. Disclosure of procedures, basis of decision, and amount of remuneration for
members of Directors, along with the relation between remuneration and
company performance.
250
3. Disclosure of company policies and the implementation on frequency
of Directors meetings, including joint meetings with the Board of
Commissioners, and attendance of members of Directors in such meetings.
249
4. Resolutions of GMS of the previous year and the realization during the
fiscal year, along with reasons in the event that there is a resolution not yet
realized.
225-231
5. Disclosure of company policies on performance assessment of members of
Directors (of any).244
3. Audit Committee, consisting of among others: 257-2631. Name. 2572. Employment record, work experience, and legal basis of appointment. 258, 2633. Educational background. 258, 2634. Period of service of Audit Committee members. 257, 2635. Disclosure of independence of Audit Committee. 259
7PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
No. Subject and Explanation Page
6. Disclosure of company policies and the implementation on frequency
of Audit Committee meetings and the attendance of Audit Committee
members in such meetings.
260
7. Brief description activities carried out by Audit Committee during the fiscal
year based on what is stated in Audit Committee Charter.261
4. Other committees the Issuer or Public Company has in order to support
the function and tasks of Directors and/or Board of Commissioners, such as
Nomination and Remuneration Committee, consisting of among others:
264-269
1. Name. 264-2692. Employment record, work experience, and legal basis of appointment. 264-2693. Educational background. 264-2694. Period of service of committee members. 264-2695. Disclosure of company policies on independence of committee members. 264-2696. Description of the tasks and responsibilities. 264-2697. Disclosure of company policies and the implementation on frequency of
committee meetings and the attendance of committee members in such
meetings.
264-269
8. Brief description activities carried out by committee during the fiscal year. 264-2695. Description of tasks and function of the Corporate Secretary. 270
1. Name. 2722. Employment record, work experience, and legal basis of appointment. 2723. Educational background. 2724. Period of service of Corporate Secretary. 2725. Brief description of tasks implementation of Internal Auditing Unit during
the fiscal year.271
6. Description of company’s Internal Auditing Unit. 2731. Name. 2792. Employment record, work experience, and legal basis of appointment. 274, 2793. Qualification/certification as an Internal Audit (if any). 2734. Structure and position of Internal Auditing Unit. 2745. Tasks and responsibilities of Internal Auditing Unit in accordance with that
stipulated in Internal Auditing Unit Charter.276
6. Brief description of tasks implementation of Internal Auditing Unit during
the fiscal year.277
7. Description of internal control system implemented in the company, consisting
of at least:278-279
1. Operational and financial control, along with compliance with other
prevailing rules and regulations.278-279
2. Review on effectiveness of internal control system. 2798. Risk management system implemented in the company, consisting of at least: 280-293
1. General description of risk management system of the company. 280-2822. Types of risks and efforts to manage such risks. 2853. Review on effectiveness of the company’s risk management system. 288-293
9. Material litigation faced by the Issuer or Public Company, subsidiaries, present
members of the Board of Commissioners and Directors, including among
others:
293-299
8 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
No. Subject and Explanation Page
1. Material of the case/claim. 293-2992. Status of settlement of case/claim. 293-2993. Impacts on the financial condition of the company. 293-299
10. Information on administrative sanctions to Issuer or Public Company, members
of the Board of Commissioners and Directors, by capital market authority and
other authorities during the fiscal year (if any).
299
11. Information on code of ethics and corporate culture (if any) consisting of: 300-3041. Main points of code of ethics. 3002. Main points of corporate culture. 3033. Form of socialization of code of ethics and its enforcement efforts. 300-3044. Disclosure of code of ethics is applied to the Board of Commissioners,
Directors and employees of the company.300-304
12. Explanation on employees and/or Management share ownership program
carried out by Issuer or Public Company, including among others amount,
period of time, requirements for eligible employees and/or Management, and
exercise price (if any).
305
13. Explanation on Whistleblowing System at the Issuer or Public Company to
report misconducts causing potential loss to the company or the stakeholders
(if any), consisting of among others:
306-310
1. Means of submitting the report on misconducts. 3082. Protection for whistleblower. 3093. Party managing whistleblowing. 3064. Results of whistleblowing handling. 310
VIII. Corporate Social Responsibility 314-3491. Discussion on corporate social responsibility consisting of policies, types of
programs, and cost, in relation of the aspects of among others:314-349
a. Environment, such the use of environmentally friendly and recyclable
material and energy, the company’s waste management system,
certification in the field of environment, etc.
318
b. Labor practices, occupational health and safety, such as equality in gender
and work opportunity, work facility and safety, employees turnover, level
work accident, training, etc.
320
c. Social and community development, such as the use of local work force,
empowerment of the company’s surrounding community, improvement of
social facilities and infrastructure, other forms of donations, etc.
331
d. Product responsibility, such consumers’ health and safety, product
information, facilities for customers complaints, number of complaints and
complaints handling, etc.
343
2. Issuer or Public Company may disclose information referred to in point (1) as
part of the Annual Report or in a separate report, such as submitted at the
same time as Sustainability Report or Corporate Social Responsibility Report.
9PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
No. Subject and Explanation Page
IX. Audited Financial Report 353The Financial Report contained in the Annual Report should be presented in
accordance with Financial Accounting Standard in Indonesia and has been audited
by Accountant. The said Financial Report should contain statement regarding
responsibility on the Financial Report in compliance with Regulation No. VIII.G.11 or
Regulation No. X.E.1.
353
X. Signatures of the Board of Commissioners and Directors 350-3511. Annual Report should be signed by all members of the present Board of
Commissioners and Directors.
ü
2. The signatures stated in number (1) are presented a separate page in the
Annual Report and the said separate page should state that members of the
Board of Commissioners and Directors are fully responsible for the accuracy of
Annual Report. The separate page is in accordance with Form No. X.K.6-1 of the
Attachment of this Regulation.
-
3. In the event that a member of the Board of Commissioners or Directors does
not sign the Annual Report, s/he must present a written explanation in a
separate letter stating the reason and it is to be attached to the Annual Report.
-
4. In the event that member of the Board of Commissioners or Directors not
signing the Annual Report does not provide written explanation, written
explanation in a separate letter from the other members should then be
presented by members of the Board of Commissioners or Directors signing the
Annual Report and it is to be attached to the Annual Report.
-
10 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
80Management Report
208 Corporate Governance
100Management Discussion and Analysis
314 Corporate Social Responsibility
Contents
Connectivity for Driving Growth 1Cross Reference to Bapepam-LK Regulation No. X.K.6 2
Table of Contents 10
IDENTITy OF THE COMPANy 13
PROFILE OF THE COMPANy 14
Jasa Marga at a Glance 14Jasa Marga’s Milestones 14Jasa Marga in Brief 16Business Activities 17Development of Toll Road Industry in Indonesia 17
Development of Jasa Marga’s Business 18
Vision & Mission, Values and Logo of the Company 20
Organizational Structure 24Jasa Marga Key Personnel 26Human Capital Profile 32Major Shareholder, Subsidiaries and Associated Companies 34
Jasa Marga Group Corporate Structure 34
Subsidiaries 35Associated Companies 42
Areas of Operation and New Toll Road Projects 44
Address of Branch Offices, Subsidiaries and Associated Companies
48
Supporting Institutions and Professionals 50
TRANSFORMATION OF JASA MARGA 53
HIGHLIGHTS 2014 56
Financial Highlights 2010-2014 56Operational Highlights 2010-2014 58Stocks Highlights 59Bonds Highlights 61Chronology of Jasa Marga Shares Listing and Bonds Issuance 62
Composition of JSMR Shares Ownership 63
Shares Ownership of Board of Commissioners, Directors and Employees
65
Twenty Largest Shareholders and Bondholders 65
Significant Events 2014 68Awards and Certifications 74
MANAGEMENT REPORT 80
Board of Commissioners Report 82Composition of the Board of Commissioners 84
Work Program of the Board of Commissioners 84
Assessment on Performance of the Directors 86
View on Business Prospect Established by the Directors 88
Assessment on Performance of the Committees under the Board of Commissioners
89
Profile of Board of Commissioners 90Directors Report 92
Analysis of Performance of the Company 94
Performance Achievement of the Company 94
Obstacles Faced by the Company 95Future Prospect of the Company’s Business 96
Sustainable Implementation of Corporate Governance 96
Corporate Social Responsibility 96Changes in the Composition of the Directors 97
Profile of Directors 98
MANAGEMENT DISCUSSION AND ANALySIS 100
General Review 103Review on the Company’s Performance Compared with Toll Road Industry
104
The Company’s Business Activities 106Operational Review by Business Segment 106
Jasa Marga Business Segment 106Basis of Implementation of Jasa Marga Business Segment 107
Business Segment of Toll Road Operation 112
Executive Summary of Operation Director, Hasanudin 127
Business Segment of Non-Toll Road Business Development 130
Comprehensive Analysis of Financial Performance 133
Assets 133Liabilities 143Equity 151Consolidated Statements of Comprehensive Income 152
Operating Revenues 153Operating Expenses 156Operating Income 157Income for the Year 159Other Comprehensive Revenues 159Comprehensive Income for the Year 160Profitability Ratio 161Consolidated Statements of Cash Flows 161
Solvability and Collectability of Receivables 163
Capital Structure 164Capital Structure Policy 164Investment in Capital Goods 164Comparison of 2014 Target and 2014 Realization 164
Target/Projection to Achieve Next Year 165
Material Ties for the Investment in Capital Goods 165
Material Information Subsequent to the Date of Accountant’s Report 165
Business Prospect and Conditions of the Industry and Economy 165
Marketing Strategies and Market Share 166
Cash Dividend Policy and Payment 166Use of Proceeds 167Material Increase/Decrease in Net Revenues in Relation to Sales Volume or New Services
169
Material Information on Investment, Expansion, Divestment and Acquisition and Debt/Equity Restructuring
170
Information on Material Transaction with Conflict of Interest and/or Related Parties Transaction
170
Changes in Legislation Significantly Affecting the Company 170
Changes in Accounting Policies Significantly Affecting the Company 170
Executive Summary of Finance Director, Reynaldi Hermansjah 171
NEw PROJECTS DEVELOPMENT 172
Development of Toll Road Business 176Development of Non-Toll Road Business 184
Executive Summary of Business Development Director, Abdul Hadi Hs. 185
11PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
HUMAN CAPITAL MANAGEMENT 188
Transformation of Human Capital 191Organizational Improvement 192Manpower Planning and Recruitment 194Employees Performance and Competency Development 195
Employees Performance Management System 197
Employees Career Development 199Employees welfare 201Industrial Relations Management 203Management of Post-Employment Program 204
Management of Outsourced Employees 205
Employees Productivity 205Awards Related to Human Capital Management 205
Management of Human Capital Transformation 206
Cost for Human Resources 206Executive Summary of Human Capital and General Affairs Director, Muh Najib Fauzan
207
CORPORATE GOVERNANCE 208
Jasa Marga Commitment to GCG Implementation 211
Objectives of GCG Implementation at Jasa Marga 212
Legal Basis of GCG Implementation at Jasa Marga 213
Results of GCG Implementation Assessment 216
Structure, Policy and Mechanism of Corporate Governance Implementation
221
General Meeting of Shareholders 225Board of Commissioners 232
Composition of the Board of Commissioners 232
Duties and Responsibilities of the Board of Commissioners 233
Appointment and Dismissal of Board of Commissioners 236
Independence of the Board of Commissioners and Independent Commissioners
236
Affiliate Relationship and Board Membership at Other Companies 237
Dual Positions and Conflict of Interest 238
Work Guidelines and Orders for the Board of Commissioners (Board Charter)
238
Board of Commissioners Meetings 239Procedures, Basis of Decision and Amount of Remuneration of Members of Board of Commissioners
241
Board of Commissioners Competency Development and Training Programs
243
Decisions of Board of Commissioners in 2014 243
Monitoring and Evaluation of the Follow up of Decisions of Board of Commissioners-Directors Joint Meetings in 2014
244
Achievement of Board of Commissioners Key Performance Indicators (KPI) 2014
244
Committees under Board of Commissioners 244
Directors 245Requirements, Membership and Composition of Directors 245
Duties and Responsibilities of the Directors 246
Independence of Directors 247Directors Dual Positions 248
Work Guidelines and Orders for the Directors (Board Charter) 248
Directors Competency Development and Training Programs 248
Directors Meetings 249Decisions of Directors in 2014 250Procedures, Basis of Decision and Amount of Remuneration of Members of Directors
250
Relationship between Board of Commissioners and Directors 253
Assessment of Board of Commissioners and Directors 254
Diversity in the Composition of Board of Commissioners and Directors 256
Committees 257Audit Committee 257
Composition of Audit Committee 257Legal Basis on the Forming of Audit Committee 257
Educational Qualification and Work Experience 258
Tasks and Responsibilities of Audit Committee 258
Independence of Audit Committee 259
Audit Committee Meetings 260Remuneration of Audit Committee 261
Achievement of Audit Committee Key Performance Indicators (KPI)
261
Report on Implementation of Tasks of Audit Committee 261
Profile of Audit Committee 263Business Risk and Investment Committee 264
Composition of Business Risk and Investment Committee 264
Legal Basis on the Forming of Business Risk and Investment Committee
264
Tasks and Responsibilities of Business Risk and Investment Committee
264
Independence of Business Risk and Investment Committee 265
Business Risk and Investment Committee Meetings 265
Remuneration of Business Risk and Investment Committee 265
Achievement of Business Risk and Investment Committee Key Performance Indicators (KPI)
265
Report on Implementation of Tasks of Business Risk and Investment Committee
266
Profile of Business Risk and Investment Committee 268
Remuneration and Nomination Committee 269
Policies in Directors Successors 269Profile of Remuneration and Nomination Committee 269
Corporate Governance Committee 269Profile of Corporate Governance Committee 269
Secretary of the Board of Commissioners 270
Corporate Secretary 270Organizational Structure of Corporate Secretary 270
Implementation of Tasks of Corporate Secretary 271
Work Experience of Corporate Secretary 272
Competency Development and Training Programs of Corporate Secretary
272
Profile of Corporate Secretary 272
Internal Audit Unit 273Qualification of Internal Audit Unit 273Structure and Position of Internal Audit Unit 274
Appointment and Dismissal of Internal Audit 274
Competency Development of Internal Audit Human Resources and Certification of Audit Profession
274
Work Guidelines for Internal Audit Unit 275
Code of Ethics for Internal Auditors 276Tasks and Responsibilities of Internal Audit Unit 276
Implementation of Activities of Internal Audit Unit in 2014 277
Audit Results of Internal Audit Unit 277Other Audit Supporting Activities 277Internal Audit Unit Performance Evaluation 277
Internal Control System of the Company 278
Socialization of Corporate Internal Control System (SPIP) Framework 278
Review on Effectiveness of Corporate Internal Control System (SPIP)
279
Profile of Head of Internal Audit 279
Risk Management Report 280Develoment of Jasa Marga Risk Management 280
Risk Management Policies 281Risk Management Governance Structure 282
The Company’s Risks and Managing Them 285
Implementation of Risk Management Work Programs in 2014 288
Profile of VP Risk and Quality Management 293
Material Litigation 293Information on Administrative Sanctions 299
Code of Conduct and Corporate Culture 300
Code of Conduct 300Corporate Culture 303
Shares Ownership Program for Employees and/or Management (MSOP/ESOP)
305
Equal Treatment to All Shareholders 305whistleblowing System 306Procurement of Goods and Services 310Governance of Information Technology 312
External Auditor 312
CORPORATE SOCIAL RESPONSIBILITy 314
General Strategies and Policies 317Ecological Responsibility 318Labor and Occupational Health & Safety Responsibility 320
Report on Social Responsibility 331Responsibility to Customers 343Access to Information and Data of the Company 349
MANAGEMENT RESPONSIBILITy FOR ANNUAL REPORT 2014
350
GLOSSARy 352
CONSOLIDATED FINANCIAL STATEMENTS 353
12 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Company’s core business activities include performing technical planning, construction, operation and/or maintenance of toll roads; and developing the land in toll roads’ right of way (ROw) areas and the land adjacent to toll roads’ ROw for rest and services areas along with the facilities and other businesses.
13PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
Corporate Social Responsibility
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Glossary Consolidated Financial Statements
Name of the CompanyPT Jasa Marga (Persero) Tbk.
Incorporated in Jakarta
Head Office AddressPlaza Tol Taman Mini Indonesia Indah
Jakarta 13550 Indonesia
Tel.: 62-21 841 3526, 841 3630
Fax.: 62-21 841 3540
Email: [email protected],
Website: www.jasamarga.com
Center for Traffic Information and Other ServicesJMTIC (Jasa Marga Traffic Information Center)
62-21 8088 0123
Date of Establishment01 March 1978
Legal Basis of EstablishmentGovernment Regulation No. 04 of 1978
Authorized CapitalRp 9.52 trillion
Issued & Fully Paid CapitalRp 3.4 trillion
OwnershipGovernment of the Republic of Indonesia 70%
Public 30%
Share Listing InformationStock Exchange : IDX, quote JSMR since 12
November 2007
Bloomberg : JSMR IJ
Reuters : JSMR.JK
Identity of the Company
Business Activities According to the Company’s Articles of Association
stipulated in the Decision of the Minister of Law
and Human Rights of the Republic of Indonesia
No. AHU-20228.AH.01.02 of 2011 on Approval
of Amendment of the Company’s Articles of
Association, the aims and purposes of the
Company are to engage in performing and
supporting the Government’s programs and
policies in economy and national in development
in general; and in the development of toll roads
along with the supporting facilities in particular,
by implementing the principles of Limited Liability
Company. To achieve the said aims and purposes,
the Company performs the following business
activities:
CORE BUSINESS ACTIVITIES1. Performing technical planning, construction,
operation and/or maintenance of toll roads.
2. Developing the land in toll roads’ right of way
(ROW) areas and the land adjacent to toll
roads’ ROW for rest and services areas along
with the facilities and other businesses, either
solely or in cooperation with other parties.
SUPPORTING BUSINESS ACTIVITIES1. The field of property development in areas
near toll road corridor.
2. The field of services development for
businesses related to modes/means of
transportation, distribution of liquid/solid/
gas material, information facility network,
technology and communication, in relation to
toll road corridor.
3. The field of trade and services for
construction, maintenance and toll road
operation.
14 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
2006 200820042003
2007
• JasaMargawas
established
with the scope
of business to
manage, maintain
and provide toll
road network.
• Jagorawiasthe
first toll road in
Indonesia started
to operate.
Semarang Toll Road
started to operate. • Jakarta-Tangerang
Toll Road started to
operate.
• Prof.Dr.Ir.
Sedyatmo Toll
Road started to
operate.
• Surabaya-Gempol
Toll Road started to
operate.
• Belmera(Belawan-
Medan-Tanjung
Morawa) Toll Road
started to operate.
Cipularang
(Cikampek-
Purwakarta-
Padalarang) Toll
Road started to
operate.
The signing of Toll Road
Concession Agreement
(Perjanjian Pengusahaan
Jalan Tol/PPJT) of
Bogor Outer Ring Road,
Semarang-Solo, Gempol-
Pasuruan, Gempol-
Pandaan, JORR W2 North,
Surabaya-Mojokerto and 13
toll road sections operated
by the Company.
The authorization
function is returned
to the Government
(Department of
Public Works c.q.
Indonesian Toll Road
Authority – Badan
Pengatur Jalan Tol/
BPJT).
• ThechangeinJasa
Marga Logo signifying
the Company’s
Modernization and
Transformation.
• JasaMargabecamea
public company through
the Initial Public Offering
(IPO) by listing its shares
at the Indonesia Stock
Exchange.
• TheintegrationofJORR
Toll Road from Ulujami-
Cilincing.
The signing
of Kunciran-
Serpong Toll
Road Concession
Agreement.
Profile of the CompanyJasa Marga at a GlanceJasa Marga’s Milestone
19781983 1984 1986
15PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
• Governmentbeganto
provide the opportunity
for private parties to
participate in the provision
of toll roads through Build,
Operate and Transfer
(BOT) system with Jasa
Marga.
• JasaMargastartedthe
operation of Jakarta Inner
Ring Road Toll Road in
stages.
Jakarta-Cikampek
Toll Road started
to operate.
• Padaleunyi
(Padalarang-
Cileunyi) Toll Road
started to operate.
• JORRTollRoad
(Section E Cakung-
Cikunir) started to
operate.
Jakarta Outer Ring
Road Toll Road
(Section S Pondok
Pinang-Lenteng
Agung) started to
operate.
Palikanci
(Palimanan-
Kanci) Toll
Road started to
operate.
• BogorOuterRing
Road Toll Road
(Section 1 Sentul
Selatan-Kedung
Halang) started to
operate.
• e-TollCardstartedto
be implemented.
• Thesigningof
Cengkareng-Kunciran
Toll Road Concession
Agreement.
• Surabaya-Mojokerto
Toll Road (Section
1A Waru-Sepanjang)
and Semarang-Solo
Toll Road (Section 1
Semarang-Ungaran)
started to operate.
• ThesigningofNusa
Dua-Ngurah Rai-Benoa
Toll Road Concession
Agreement.
e-Toll Pass
started to be
implemented.
Nusa Dua-
Ngurah Rai-
Benoa (Bali
Mandara) Toll
Road and JORR
W2 North Toll
Road (Kebon
Jeruk-Ciledug
Section) started
to operate.
• TheStartofoperationof
Semarang-Solo Toll Road
(Section 2 Ungaran-Bawen),
Bogor Outer Ring Road Toll
Road (Section 2A Kedung
Halang-Kedung Badak) and
JORR W2 North Toll Road
(Section Ciledug-Ulujami).
• JasaMargawonthetender
for the concession of Medan-
Kualanamu-Tebing Tinggi Toll
Road.
2011
20132014
20092012
19871988
19901991
1998
16 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Jasa Marga in Brief
BASIS OF ESTABLISHMENTTo support the economic growth, Indonesia needs
reliable road network. PT Jasa Marga (Persero)
Tbk. was formed based on Government Regulation
No. 04 of 1978 on the State Capital Participation of
the Republic of Indonesia in the establishment of a
State-Owned (Persero) in the fields of management,
maintenance and provision of toll road network,
along with its business regulations (State Gazette
No. 04 of 1978 in conjunction with the Decree of
the Minister of Finance of the Republic of Indonesia
No. 90/KMK.06/1978 on the Decision of the Capital
of Perusahaan Perseroan (Persero) PT Jasa Marga
dated 27 February 1978).
The Company was established based on the Deed No.
1 dated 01 March 1978, under the name of, “PT Jasa
Marga (Indonesia Highway Corporation)”, which was
then changed based on the Deed No. 187 dated 19 May
1981 and the name of the Company was changed into
“PT Jasa Marga (Persero)”, both made before Kartini
Muljadi, SH., then Notary in Jakarta.
The Company’s Articles of Association have been
amended several times and the most recent
amendment has been announced in the Supplement
No. 27404 to the State Gazette of the Republic of
Indonesia dated 12 December 2008 No. 100 and
was last amended based on Deed of Resolutions of
No. 33 dated 05 April 2011 made before Notary Ny.
Poerbaningsih Adi Warsito, SH., Notary in Jakarta as
approved by the Minister of Law and Human Rights
17PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
of the Republic of Indonesia through its Decree No.
AHU-20228.AH.01.02 year 2011 dated 21 April 2011,
and was last amended in accordance with the Deed
of Resolutions of Extraordinary General Meeting
of Shareholders No. 95 dated 21 June 2012, made
before Ny. Poerbaningsih Adi Warsito, SH., Notary in
Jakarta and has obtained acknowledgement letter
from Directorate General Public Law Administration
of the Ministry of Law and Human Rights No. AHU-
AH.01.10-25313 dated 10 July 2012.
In accordance with the resolutions of the
Extraordinary General Meeting of Shareholders
convened on 12 September 2007 regarding the
changes in the Company’s Articles of Association
with regards to Initial Public Offering, including
the increase in authorized capital, issued and
fully paid capital; the changes in par value and
the classification of share; the change in the
Company’s status from a private company to
become a public company; and the change in the
name of the Company to become Perusahaan
Perseroan (Persero) PT Jasa Marga (Indonesia
Highway Corporatama) Tbk. or PT Jasa Marga
(Persero) Tbk., the decision of the changes in the
Company’s Articles of Association was stated in
the Deed No. 27 dated 12 September 2007 from
Notary Ny. Poerbaningsih Adi Warsito SH. The deed
was approved by the Minister of Law and Human
Rights of the Republic of Indonesia through the
Decree of No. W7-10487 HT.01.04-TH.2007 dated 21
September 2007.
CHANGES IN THE COMPANy’S NAMEApart from the changes of its name due to the
change of its status to become a public company,
the name of the Company has never been changed.
Business ActivitiesAccording to Article 3 of the Company’s Articles of
Association, the aims and purposes of the Company
are to engage in performing and supporting the
Government’s programs and policies in economy
and national in development in general; and in the
development of toll roads along with the supporting
facilities in particular, by implementing the principles
of Limited Liability Company. To achieve the above
aims and purposes, the Company performs the
following activities:
1. Performing technical planning, construction,
operation and/or maintenance of toll roads.
2. Developing the land in toll roads’ right of way
(ROW) areas and the land adjacent to toll roads’
ROW for rest and services areas along with the
facilities and other businesses.
The above business activities are carried out through
the process of planning, building, operating and
maintaining toll roads along with the facilities so that
toll roads are able to function as highway providing
more benefits compared to the non-toll roads.
Based on its Articles of Association, the Company
also conducts the following supporting business
activities:
1. Developing property in areas near toll road
corridor.
2. Developing services for businesses related to
modes/means of transportation, distribution
of liquid/solid/gas material, information facility
network, technology and communication, in
relation to toll road corridor.
3. Developing the fields of trade and services
for construction, maintenance and toll road
operation.
Development of Toll Road Industry in Indonesia
1978The history of Indonesian toll road industry began
when the country’s first toll road Jagorawi officially
began to operate in 1978. The construction of
Jagorawi Toll Road connecting Jakarta-Bogor-Ciawi
was completed by the Government by using state’s
budget and foreign loan handed over to PT Jasa
Marga (Persero) Tbk. as equity participation.
1980At the end of the ‘80s, the Government of Indonesia
began to include private sectors to participate in toll
road development through the Build, Operate and
Transfer (BOT) mechanism.
18 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
2004The issuance of Law No. 38 of 2004 on Road
replacing Law No. 13 of 1980, along with the issuance
of Government Regulation No. 15 giving more
specific regulations on toll roads have brought
changes in toll road business mechanism, which
among others include the forming of the Indonesian
Toll Road Authority (Badan Pengatur Jalan Tol
– BPJT) as the regulator of toll road industry in
Indonesia, as well as the decision of toll tariff by the
Minister of Public Works along with the adjustment
every two years based on inflation.
Development of Jasa Marga’s BusinessAt an earlier stage of its establishment, besides
functioning as operator, Jasa Marga also had the
responsibility as the toll road authority in the
country. Until 1987, Jasa Marga was the only toll
road operator in Indonesia and its development is
financed by the Government with fund deriving from
foreign loan and the issuance of Jasa Marga bonds.
As the country’s first toll road operated by the
Company, Jagorawi (Jakarta-Bogor-Ciawi) Toll Road
that is operated since 1978 serves as the milestone in
the development of toll road industry in Indonesia.
In the 90s, the Company’s role is more on the
authority, facilitating private investors most of whom
failed to realize their project. The toll roads that were
taken over by the Company include JORR (Jakarta
Outer Ring Road) and Cipularang.
The issuance of Government Regulation No. 15
giving more specific regulations on toll roads have
brought changes in toll road business mechanism,
the authorization function is given back from the
Company to the Government. Consequently, the
Company fully functions as a toll road operator
and developer that requires concession license
from the Government.
Since then, toll road operation and development
is based on investment concept and as an
investor, the Company will invest in toll roads that
are financially feasible in accordance with the
concession period. To get new toll road concession
also requires the forming of new business entity.
Toll road concession may be acquired in three
ways, i.e. by participating in tender held by the
Government, by acquiring/increasing ownership
at potential toll road sections and by unsolicited
mechanism in which the Company propose to the
Government toll road section that is not included in
the Government’s plan.
To support the expansion and development of the
Company, since 2007, the Company has become a
public company and has been listed at Indonesia
Stock Exchange (IDX) – previously Jakarta Stock
Exchange (JSX), when the Government sold its 30%
shares to public on 12 November 2007.
DEVELOPMENT OF TOLL ROAD BUSINESSThrough the Toll Road Concession Agreement
(Perjanjian Pengusahaan Jalan Tol – PPJT) signed
on 07 July 2006, 13 toll road sections operated by
the Company have a concession period of 40 years
effective from 01 January 2005, with an exception of
PPJT of JORR Section S, which in 2013, Jasa Marga
was appointed temporary operator based on the
Decision of the Minister of Public Works No. 80.1/
KPTS/M/2013 on Temporary Operation of Jakarta
Outer Ring Road Toll Road Section Pondok Pinang-
Jagorawi (JORR S). As the Company continues to
grow, the Company constantly makes the efforts
to add its ownership of new toll road concessions.
In 2006, the Company signed the Concession
Agreement for six (6) toll roads, i.e. Bogor Outer
Ring Road, Semarang-Solo, Gempol-Pasuruan,
Gempol-Pandaan, JORR W2 North and Surabaya-
Mokojerto whose concessions are held by PT Marga
Sarana Jabar, PT Trans Marga Jateng, PT Transmarga
Jatim Pasuruan, PT Jasamarga Pandaan Tol,
PT Marga Lingkar Jakarta, and PT Marga Nujyasumo
Agung, respectively.
19PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
In addition to continuously adding more new toll
road concessions, Jasa Marga also increases its
ownership at the Subsidiaries, holder of toll road
concession. In 2009, the Company increased its
shares ownership and became the major shareholder
in PT Marga Kunciran Cengkareng, holder of
Cengkareng-Kunciran Toll Road concession; PT
Marga Trans Nusantara, holder of Kunciran-Serpong
Toll Road concession; PT Marga Nujyasumo Agung,
holder of Surabaya-Mojokerto Toll Road concession.
In 2011, Jasa Marga increased its shares ownership in
PT Jasamarga Pandaan Tol, which is the concession
holder of Gempol-Pandaan Toll Road and becomes
the major shareholder by acquiring the shares from
existing shareholder. Furthermore, together with
a consortium of four (4) SOEs, local Government-
owned enterprise, and Local Government, the
Company was appointed developer of Nusa Dua-
Ngurah Rai-Benoa Toll Road project in Bali.
In 2014, together with a consortium of three
(3) SOEs, the Company won the tender for the
concession of Medan-Kualanamu-Tebing Tinggi Toll
Road. Therefore, through the Subsidiaries formed by
the Company in cooperation with several business
partners, with the Company having majority
ownership of more than 51%, until the end of 2014,
the Company has ten (10) new toll road sections of
273 km.
Through nine (9) Branches and eleven (11) toll road
Subsidiaries, the Company is the concession holder
of 23 toll road sections, 18 of which, representing
576 km, are already operated, including four new toll
roads that are operated in stages, i.e. Bogor Outer
Ring Road Toll Road, Section Sentul Selatan-Kedung
Badak (5.8 km); Semarang-Solo Toll Road, Section
Semarang-Bawen (23.10 km); Surabaya-Mojokerto
Toll Road, Section Waru-Sepanjang (2.30 km); and
those fully operated, i.e. Nusa Dua-Ngurah Rai-
Benoa Toll Road (10.00 km) and JORR W2 North
Toll Road (7.70 km). As of 31 December 2014, the
Company has therefore dominated the market share
by operating 72% of the total length of toll roads (in
km) in Indonesia.
In addition to continuously adding more new toll road concessions, Jasa Marga also increases its ownership at the Subsidiaries, holder of toll road concession
DEVELOPMENT OF NON-TOLL ROAD BUSINESSESApart from toll road business, the Company also
conducts several non-toll road business activities
intended to enable the synergy and maximize the
development of the Company’s assets. The said
activities are strengthened by establishing two
subsidiaries, namely PT Jasa Layanan Pemeliharaan
(JLP), previously known as PT Sarana Marga Utama
founded in 1988 and was acquired in 2010 to work
in the field of construction, trading and car rental
services; and PT Jasamarga Properti founded
in 2013 to work in the field of property related
services, trading and development. At the two said
subsidiaries, the Company is the major shareholder.
Based on the types of business, the Company’s main
income derives from the toll payment of vehicles
passing its toll roads (toll revenues) and non-toll
revenues consisting of revenues from land rent,
advertisements, rest areas, operation of other party’s
toll road and maintenance services.
20 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Vision & Mission, Values and Logo of the CompanyThe formulation of the Company’s Vision, Mission, and Values was carried out by involving the entire related parties, which include among others: the Board of Commissioners, Directors, and employees, while bearing in mind the interests of the Stakeholders.
The Vision, Mission and Values of the Company have been approved by the Board of Commissioners and Directors following the Decision of the Directors No. 50/KPTS/2013 dated 01 March 2013 on Vision, Mission and Values of the Company.
Stages in Setting the Vision, Mission and Values of the Company1. Directors evaluate the Company’s achievements of performance and internal strength.2. Directors evaluate the strategic changes in the Company’s external surroundings and consider
future business opportunities.3. Directors evaluate and identify the needs and expectations of the stakeholders.4. While considering Internal Strengths and External Opportunities as well as stakeholders
expectations, Directors formulize the Vision, Mission and Values of the Company.5. The Vision, Mission and Values are then submitted to and evaluated by the Board of Commissioners
to be decided and agreed together by both the Board of Commissioners and the Directors.6. Directors decide the Company’s Vision, Mission and Values through Decision Letter of the Directors. The Board of Commissioners and Directors periodically every year evaluate the accomplishment of the Company’s Vision and Mission.
NEEDS ANDEXPECTATIONS OF
STAKEHOLDERS
VISION AND MISSION
STRATEGIC CHANGESIN EXTERNAL SURROUNDING
AND BUSINESS OPPORTUNITIES
ACHIEVEMENTS OFTHE COMPANy’S PERFORMANCE
AND INTERNAL STRENGTHS
DIRECTORS ANDBOARD OF COMMISSIONERS
Stages of Setting the Vision and Mission of the Company
21PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
2017 VisionTo become a leading company in the development and operation of toll roads in Indonesia.
2022 VisionTo become one of the leading companies in Indonesia.
To provide clarity of direction and enable unifying focal point, the Company reviewed its Vision by evaluating its strength and business opportunities in the long term for both toll road and non-toll road businesses. The Vision of the Company is as follows:
Leading Company is defined with the following characteristics:• Havingrelativelyhighfinancialsoundnessintheindustryandprovidinglong-terminvestment
value.• Becomingmarketleaderintheindustry.• Constantlymakinginnovationinordertoprovideexcellentqualityofproductsandservices.• Havingsocialresponsibilitytothecommunityandenvironment.• HavingqualifiedManagement• BecomingrolemodelinHumanCapitalmanagementtoothercompaniesandbeingchosenasthe
place for having a career by talented people.
In formulizing its Mission, the Company reevaluated its Reason for Being, and Fundamental Purpose, while communicating the Value of the Company. The Mission of the Company is as follows:
Mission1. Accelerating Toll Road Development.2. Providing Efficient and Reliable Toll Roads.3. Enhancing the Efficiency in the Distribution of Goods and Services.
The Company’s Mission bears the meaning that the Company consciously understands its existence in performing its business activities as toll roads developer and operator, the Company has duties to realize the Acceleration of Toll Road Development to support economic growth program launched by the Government. In addition, the Company also understands that the existence of toll roads operated by the Company needs to benefit the toll road users requiring efficient and reliable toll roads as well as free-flowing distribution of goods and services.
Vision & Mission of the Company
22 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
JUJUR (TRUSTwORTHy)Jasa Marga is committed to always being TRUSTwORTHy, fair, transparent and free from conflict of interests in carrying out its business activities.
SIGAP (AGILE)Jasa Marga is AGILE in providing services to the customers and other stakeholders by being concerned and proactive while constantly staying prudent.
J S
Logo of the Company
1993 - 20071978 - 1993 2007 - present
Transformation of the Company’s Logo
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
23PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
To run the Mission and accomplish the Vision of the Company, Jasa Marga
has set Corporate Values serving as Guiding Principles in Behavior and
Decision Making. Based on the review on the Corporate Values, such Values
are established on the foundation of four main principles jointly recognized
and developed, i.e. Jujur (Trustworthy), Sigap (Agile), Mumpuni (Qualified)
and Respek (Respectful). Detailed meaning and explanation of the
Corporate Values is as follows:
Values of the Company
M R
RESPEK (RESPECTFUL)Jasa Marga is RESPECTFUL to the stakeholders in creating synergy to make achievements.
MUMPUNI (QUALIFIED)Jasa Marga is QUALIFIED in performing the duties with the basis of competency, consistency and innovation.
Since 1978, the Company’s logo has been
changed twice, i.e. in 1993 and 2007.
The Company’s logo used since 2007 shows
changes that reflect strong commitment
to grow to become a company having the
images of leading, modern and professional
in the industry. The colors of blue and yellow
in the logo represent hope and future as well
as spirit and commitment. The configuration
of road forming the letter “J” (the first letter
of the Company’s name) is the reflection
of the Company’s historical journey, giving
the image of the Company with increasing
dynamic, whereas the blue ball indicates that
Jasa Marga is on its way to become a company
with global standard. The toll road services are
continuously improved to meet such standard.
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
24 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Organizational StructureIn order to achieve the Company’s Vision and Mission as well as its business strategic plans and in
accordance with the strategic policies in the field of human capital that are competence-based,
the Company requires organization that classifies functions using the approaches of hard and soft
competence to support the effectiveness and performance of organization.
*The Company’s Organizational Structure based on the Decision of the Directors No. 41/KPTS/2013 dated 01 March 2013
Organizational Structure PT Jasa Marga (Persero) Tbk.
INTERNAL AUDIT
AGUS PURNOMO
MAINTENANCE DIVISION
AyU wIDyA KISwARI
OPERATION MANAGEMENT
DIVISIONTARULI M. HUTAPEA
HUMAN CAPITAL STRATEGy AND POLICy
DIVISIONUNGGUL CARIAwAN
HUMAN CAPITAL SERVICES DIVISION
SUTIRyA wIRIAS SASTRA
GENERAL AFFAIRS DIVISION
IBK yUDARTHA
BUSINESS DEVELOPMENT
DIRECTORABDUL HADI Hs.
HUMAN CAPITAL AND GENERAL AFFAIRS
DIRECTORMUH NAJIB FAUZAN
OPERATION DIRECTOR
HASANUDIN
TOLL ROAD SUBSIDIARIES
NON TOLL ROAD SUBSIDIARIES
REST AREA BUSINESS UNIT
JASA MARGA DEVELOPMENT CENTER
UNITIRwAN PRASETyO
LEONA ROEDHIANITASARI L.
RELATED BUSINESS DEVELOPMENT
DIVISION
DEDI KRISNARIAwAN S.
HIGHwAy AND TRAFFIC ENGINEERING DIVISION
CHRISTANTIO PRIHAMBODO
TOLL ROAD BUSINESS DEVELOPMENT
DIVISIONTRULy
NAwANGSASI
PRESIDENT DIRECTOR
ADITyAwARMAN
CORPORATE SECRETARy
DAVID wIJAyATNO
BRANCH OFFICES
25PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
The Company has four directorates each of
which has its own functions and scope of
work, as follows:
1. Directorate of Operation through
Operation Management Division carries
out the management of the Company’s
operational activities, such as toll
collection and traffic services, whereas
Maintenance Division carries out toll road
maintenance activities.
2. Directorate of Business Development
through Toll Road Business Development
Division, Related Business Development
Division, and Highway and Traffic
Engineering Division carry out the
management of new toll road investment
activities and development of other
businesses as well as the monitoring and
control of Subsidiaries’ performance.
3. Directorate of Human Capital and General
Affairs carries out the management and
development of human resources through
Human Capital Strategy and Policy
Division, Human Capital Services Division;
and management of general affairs
activities through General Affairs Division.
4. Directorate of Finance, through
Corporate Planning Division, Finance
and Accounting Division and Community
Development Program Unit, carries out
the Company’s financial planning, control
and management.
Beside the units mentioned above, the
Company also has several others units under
direct control of the President Director.
Those units are Internal Audit and Corporate
Secretary. Risk and Quality Management
Division, Legal Division and Information
Technology Division each responsible for
managing risk, technology and corporate
legal; along with Branch Offices, Toll Road
Subsidiaries, Non-Toll Road Subsidiaries,
Rest Area Business Unit and Jasa Marga
Development Center Unit are under the
control of the Directors of the Company.
CORPORATE PLANNING DIVISION
MOHAMMAD SOFyAN
FINANCE AND ACCOUNTING DIVISION
ARIEF NURSETIAwAN
COMMUNITy DEVELOPMENT
UNIT
ENKKy SASONO A. w.
RISK AND QUALITy MANAGEMENT
DIVISION
NIXON SITORUS
LEGAL DIVISION
HELI wINARSO
INFORMATION TECHNOLOGy
DIVISIOND. HARI PRATAMA
FINANCE DIRECTOR
REyNALDI HERMANSJAH
26 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Jasa Marga Key PersonnelHEAD OFFICE
DAVID wIJAyATNO
Corporate SecretaryProfile is available at Profile of Corporate Secretary.
AGUS PURNOMOHead of Internal AuditProfile is available at Profile of Head of Internal Audit.
NIXON SITORUSVP Risk and Quality ManagementProfile is available at Profile of VP Risk and Quality Management.
TARULI M. HUTAPEAVP Operation ManagementHaving joined Jasa Marga since 1986, she was appointed VP Operation Management on 01 July 2012. She completed Bachelor’s Degree in Civil Engineering from University of Indonesia in 1999. Previous key positions at Jasa Marga among others include Head of Toll Collection Sub Division of Operation Management Division (2007-2008) and Head of Toll Collection System Control Sub Division of Toll Collection Division (2001-2007).
AyU wIDyA KISwARIVP Maintenance Having joined Jasa Marga since 1995, she was appointed VP Maintenance on 20 January 2014. She completed Bachelor’s Degree in Transportation Civil Engineering from Sepuluh November Institute of Technology Surabaya in 1994. Previous key positions at Jasa Marga among others include Head of Maintenance Control Sub Division of Maintenance Division (2009-2011) and Head of Maintenance Program, Preparation and Procedure Sub Division (2007-2009).
CHRISTANTIO PRIHAMBODOVP Highway and Traffic EngineeringHaving joined Jasa Marga since 1988, he was appointed VP Highway and Traffic Engineering on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from University of Indonesia in 2002. Previous key positions at Jasa Marga among others include GM of Surabaya-Gempol (2014) and GM of Purbaleunyi Branch (2012-2014).
TRULy NAwANGSASIVP Toll Road Business DevelopmentHaving joined Jasa Marga since 1996, she was appointed VP Toll Road Business Development on 02 February 2015. She completed Bachelor’s Degree in Civil Engineering from University of Indonesia in 1992. Previous key positions at Jasa Marga among others include VP Highway Traffic and Engineering (2014) and AVP Toll Road Investment Development of Toll Road Business Development Division (2010-2014).
27PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
MOHAMMAD SOFyANVP Corporate PlanningHaving joined Jasa Marga since 1997, he was appointed VP Corporate Planning on 06 March 2012. He completed Bachelor’s Degree in Civil Engineering from 10 November Institute of Technology Surabaya in 1996, Master’s Degree in Project Management from University of Indonesia in 2003 and Master’s Degree in Business & IT from the University of Melbourne in 2007. Previous key positions at Jasa Marga among others include Head of Corporate Work Program Monitoring and Evaluation Department of Corporate Planning Bureau (2010-2012) and Head of Technology Development Analysis Department of Corporate Information Technology Bureau (2008-2010).
ARIEF NURSETIAwANVP Finance and AccountingHaving joined Jasa Marga since 1995, he was appointed VP Finance and Accounting on 02 February 2015. He completed Bachelor’s Degree in Accounting from Gajah Mada University in 1993. Previous key positions at Jasa Marga among others include Senior Auditor Internal Audit (2014) and AVP Accounting of Finance and Accounting Division (2007-2013).
DEDI KRISNARIAwAN SUNOTOVP Related Business DevelopmentHaving joined Jasa Marga since 1989, he was appointed VP Related Business Development on 02 May 2014. He completed Bachelor’s Degree in Civil Engineering from Gadjah Mada University in 1988 and Master’s Degree in Management Program from University of Pelita Harapan in 2007. Previous key positions at Jasa Marga among others include VP Toll Road Business Development (2006-2014) and Head of Toll Road Investment Sub Division of Business Development Division (2001-2006).
UNGGUL CARIAwANVP Human Capital Strategy and PolicyHaving joined Jasa Marga since 1988, he was appointed VP Human Capital Strategy and Policy on 01 October 2010. He completed Bachelor’s Degree in Transportation Civil Engineering from Sepuluh November Institute of Technology Surabaya in 1986 and Master’s Degree in Finance Management from University of Indonesia in 1999. Previous key positions at Jasa Marga among others include Head of Risk Management Committee (2006) and Head of Board Administration and Investors Information Department (2001).
SUTIRyA wIRIAS SASTRAGM Human Capital ServicesHaving joined Jasa Marga since 1981, he was appointed GM Human Capital Services on 01 July 2013. He completed Bachelor’s Degree in Economy Management from STIA LAN Jakarta in 1999. Previous key positions at Jasa Marga among others include Head of Partnership Program and Community Development Program Unit (2011-2013) and Head of HR and General Affairs Department of Jakarta-Cikampek Branch (2007-2011).
IDA BAGUS KADE yUDARTHAGM General AffairsHaving joined Jasa Marga since 1988, he was appointed GM General Affairs on 01 September 2014. He completed Bachelor’s Degree in Accounting from Pancasila University Jakarta in 1988. Previous key positions at Jasa Marga among others include Senior Manager Procurement and Logistics of General Affairs Division (2013-2014) and Head of Logistics Department of General Affairs Bureau (2008-2013).
HELI wINARSOVP LegalHaving joined Jasa Marga since 1989, he was appointed VP Legal on 02 May 2014. He completed Bachelor’s Degree in Law from Jenderal Soedirman University in 1988. Previous key positions at Jasa Marga among others include AVP Corporate and Legal Business of Legal Division (2013-2014) and Head of Agreement and Corporation Department of Legal Bureau (2007-2013).
D. HARI PRATAMAVP Information TechnologyHaving joined Jasa Marga since 1997, he was appointed VP Information Technology on 01 May 2013. He completed Bachelor’s Degree in Civil Engineering from Sepuluh November Institute of Technology Surabaya in 1995 and Master’s Degree in Civil Engineering from Queensland University of Technology Australia in 2001. Previous key positions at Jasa Marga among others include East Java Toll Road Corridor Property Development Business Project Manager (2012-2013) and Head of Other Businesses Development Division (2010-2012).
28 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
ROy A. DARwISGM Cawang-Tomang-CengkarengHaving joined Jasa Marga since 1993, he was appointed GM Cawang-Tomang-Cengkareng on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from National Institute of Science and Technology in 1991 and S2 in HR from University of Krisnadwipayana in 2004. Previous key positions at Jasa Marga among others include GM Palikanci (2014) and GM Belmera (2009-2014).
SARI PURNAwARMANGM Jakarta-TangerangHaving joined Jasa Marga since 1986, he was appointed GM Jakarta-Tangerang 23 May 2014. He completed Bachelor’s Degree in Civil Engineering from Diponegoro University in 2003. Previous key positions at Jasa Marga among others include GM Semarang (2012-2014) and Head of Traffic Management Department of Jagorawi Branch (2010-2012).
yUDHI KRISyUNOROGM Jakarta-CikampekHaving joined Jasa Marga since 1986, he was appointed GM Jakarta-Cikampek on 01 July 2012. He completed Bachelor’s Degree in Structural Civil Engineering from Bandung Institute of Technology in 1985 and Master’s Degree in Transportation Civil Engineering from University of Indonesia in 1998. Previous key positions at Jasa Marga among others include Project Manager of Additional Lanes on Jagorawi Toll Road and Taman Mini Toll Gate Relocation (2010-2012) and Head of Traffic Services and Security & Order Department of Jagorawi Branch (2009-2010).
RICKy DISTAwARDHANAGM PurbaleunyiHaving joined Jasa Marga since 1989, he was appointed GM Purbaleunyi Branch on 20 January 2014. He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1989. Previous key positions at Jasa Marga among others include VP Maintenance (2012-2014) and Jakarta-Tangerang Branch Manager (2009-2012).
ENKKy SASONO A. w.GM Community Development ProgramHaving joined Jasa Marga since 1986, he was appointed GM Community Development Center on 02 February 2015. He completed Bachelor’s Degree in Business Administration from STIA LAN Jakarta in 1996 and Master’s Degree in Management from STIE IPWI Jakarta in 2001. Previous key positions at Jasa Marga among others include GM Jasa Marga Development Center (2011-2015) and Head of HR and General Affairs Department of Surabaya-Gempol Branch (2007-2011).
IRwAN PRASETyOGM Jasa Marga Development CenterHaving joined Jasa Marga since 1989, he was appointed GM Jasa Marga Development Center on 02 February 2015. He completed Bachelor’s Degree in Planology from Bandung Institute of Technology in 1988, Master’s Degree of Public Management from Carnegie Mellon University in 1995 and Doctoral Degree in Civil Engineering Transportation from Tokyo Institute of Technology in 2002. Previous key positions at Jasa Marga among others include AVP Toll Road Investment Development of Toll Road Business Development Division (2014) and AVP Management of Subsidiaries Area 1 of Toll Road Business Development Division (2012-2014).
SUPRATOwOGM JagorawiHaving joined Jasa Marga since 1986, he was appointed GM Jagorawi on 23 May 2014. He completed Bachelor’s Degree in Civil Engineering from Diponegoro University in 1985. Previous key positions at Jasa Marga among others include GM Jakarta-Tangerang (2012-2014) and Semarang Branch Manager (2009-2012).
TEDDy ROSADyGM PalikanciHaving joined Jasa Marga since 1995, he was appointed GM Palikanci on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from Tanjungpura University, Pontianak in 1993. Previous key positions at Jasa Marga among others include Deputy General Manager Traffic Management of Jakarta-Cikampek Branch (2012-2015) and Head of Traffic Management Department of Jakarta-Tangerang Branch (2010-2012).
BRANCH OFFICES
29PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
SILVERSTER ARyAN wIDODOCommunication & Information Technology Development Business Project ManagerHaving joined Jasa Marga since 1985, he was appointed Communication & Information Technology Development Business Project Manager on 02 January 2010. He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1985. Previous key positions among others include Head of Engineering Division of PT Jalantol Lingkarluar Jakarta (2003-2007) and Head of Engineering Administration Sub Division of Engineering Plan Division (1997-2003).
BAMBANG EKOArrangement and Expansion of Head Office, Taman Mini Main Toll Gate, Jagorawi Branch Office and its Surroundings Project ManagerHaving joined Jasa Marga since 1985, he was appointed Arrangement and Expansion of Head Office, Taman Mini Main Toll Gate, Jagorawi Branch Office and its Surroundings Project Manager on 01 September 2013. He completed Bachelor’s Degree in Civil Engineering from Jaya Baya University in 1998. Previous key positions at Jasa Marga among others include Additional Lanes on Tangerang-Kebon Jeruk Section of Jakarta-Tangerang Toll Road Project Manager (2010-2011) and Head of Implementation Control III Department of Prof. Dr. Ir. Sedyatmo Toll Road South Side Elevated Widening Project (2008-2010).
RADDy R. LUKMANGM Surabaya-GempolHaving joined Jasa Marga since 1996, he was appointed GM Surabaya-Gempol on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from University of Indonesia in 1994. Previous key positions at Jasa Marga among others include GM Belmera (2014) and Deputy General Manager Toll Collection Management of Jakarta-Cikampek Branch (2012-2014).
BAGUS CAHyA A.BGM SemarangHaving joined Jasa Marga since 1995, he was appointed GM Semarang on 23 May 2014. He completed Bachelor’s Degree in Civil Engineering from University of Brawijaya, Malang in 1993. Previous key positions at Jasa Marga among others include AVP Traffic Management of Operation Management Division (2013-2014) and Head of Traffic Management Sub Division of Operation Management Division (2011-2013).
SETIA BUDIGM BelmeraHaving joined Jasa Marga since 1997, he was appointed GM Belmera on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from Parahyangan Catholic University in 1996. Previous key positions among others include AVP Traffic Management of Operation Management Division (2014) and Head of Operation Management Division of PT Jalantol Lingkarluar Jakarta (2012-2014).
HIDAyATULLAHPorong-Gempol Toll Road Development Project ManagerHaving joined Jasa Marga since 1989, he was appointed Porong-Gempol Toll Road Development on 03 September 2014. He completed Bachelor’s Degree in Civil Engineering from Muhamadiyah University Jakarta in 2000 and Master’s Degree in Management from Tourism Development Institute Jakarta. Previous key positions among others include Senior Expert Staff for Implementation Control of PT Jasamarga Bali Tol (2011-2014) and Senior Expert Staff for Implementation Control of PT Transmarga Jatim Pasuruan (2010).
ARI KRISTOPOAdditional Lanes on Jagorawi Toll Road and Taman Mini Main Toll Gate Relocation Project ManagerHaving joined Jasa Marga since 1995, he was appointed Additional Lanes on Jagorawi Toll Road and Taman Mini Main Toll Gate Relocation Project Manager on 20 January 2014. He completed Bachelor’s Degree in Transportation Civil Engineering from Islamic University of Indonesia Yogyakarta in 1994. Previous key positions among others include Engineering Director of PT Sarana Marga Utama (2012-2014) and Head of Operation Management Division of PT Jalantol Lingkarluar Jakarta (2009-2011).
LEONA ROEDHIANITASARI LEGAwATIHead of Rest and Services Areas Business UnitHaving joined Jasa Marga since 1995, she was appointed Head of Rest and Services Areas Business Unit on 01 October 2012. She completed Bachelor’s Degree in Transportation from Pancasila University Jakarta in 1993. Previous key positions at Jasa Marga among others include Rest and Services Areas Development Business Project Manager (2011-2012) and Head of Implementation Control II Department of Rest and Services Areas Development Business Project (2009-2011).
PROJECT OFFICES
30 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
A. TITO KARIMPresident Director of PT Jasamarga Bali TolHaving joined Jasa Marga since 1986, he was appointed President Director of PT Jasamarga Bali Tol on 02 December 2011. He completed Bachelor’s Degree in Civil Engineering from Sriwijaya University in 1984 and Master’s Degree in HR Management from Ikopin Bandung in 2006. Previous key positions among others include President Director of PT Marga Sarana Jabar (2010-2011) and Operation Director of PT Jalantol Lingkarluar Jakarta (2007-2010).
SUBAKTI SyUKURPresident Director of PT Marga Lingkar JakartaHaving joined Jasa Marga since 1986, he was appointed President Director of PT Marga Lingkar Jakarta on 20 January 2014. He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1986 and Master’s Degree in Management from Christian University Jakarta in 2010. Previous key positions at Jasa Marga among others include GM Cawang-Tomang-Cengkareng Branch (2008-2014) and Surabaya-Gempol Branch Manager (2006-2008).
HENGKI HERwANTOPresident Director of PT Transmarga Jatim PasuruanHaving joined Jasa Marga since 1982, he was appointed President Director of PT Transmarga Jatim Pasuruan on 28 June 2010. He completed Bachelor’s Degree in Transportation Civil Engineering from Sepuluh November Institute of Technology Surabaya in 1981 and Master’s Degree in Business Administration from IPPM in 1993. Previous key positions among others include Director of PT Citra Margatama Surabaya (2005-2007) and Gempol-Pasuruan Toll Road Preparation and Development Project Manager (2008-2011).
SEPTERIANTO SANAFPresident Director of PT Jalantol Lingkarluar JakartaHaving joined Jasa Marga since 1986, he was appointed President Director of PT Jalantol Lingkarluar Jakarta on 01 July 2012. He completed Bachelor’s Degree in Civil Engineering from Parahyangan Catholic University Bandung in 1986. Previous key positions at Jasa Marga among others include Head of Operation Management Division (2006-2012) and Head of Toll Collection Division (2003-2006).
MUHAMMAD ZAHIR SIREGARPresident Director of PT Marga Sarana JabarHaving joined Jasa Marga since 1988, he was appointed President Director of PT Marga Sarana Jabar on 02 December 2011. He completed Bachelor’s Degree in Civil Engineering from University of North Sumatera in 1986 and Master’s Degree in Management from STM PPM in 2003. Previous key positions at Jasa Marga among others include Palikanci Branch Manager (2006-2011) and Belmera Branch Manager (2005-2006).
DJADJAT SUDRADJATDirektur Utama President Director of PT Trans Marga JatengHaving joined Jasa Marga since 1986, he was appointed President Director of PT Trans Marga Jateng in November 2011. He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1985. Previous key positions among others include Head of Development Division (2006-2009) and President Director of PT Marga Nujyasumo Agung (2009-2011).
BUDI PRAMONOPresident Director of PT Marga Nujyasumo AgungHaving joined Jasa Marga since 1986, he was appointed President Director of PT Marga Nujyasumo Agung on 10 July 2014. He completed Bachelor’s Degree in Civil Engineering Transportation from Sepuluh November Institute of Technology, Surabaya in 1985. Previous key positions at Jasa Marga among others include Jakarta-Cikampek Branch Manager (2009-2011) and Jagorawi Branch Manager (2005-2006).
SETIyONOPresident Director of PT Jasamarga Pandaan TolHaving joined Jasa Marga since 1985, he was appointed President Director of PT Jasamarga Pandaan Tol on 01 January 2012. He completed Bachelor’s Degree in Transportation Civil Engineering from Sepuluh November Institute of Technology Surabaya in 1985. Previous key positions at Jasa Marga among others include Head of Traffic Safety Sub Division of Traffic Management Division (2001-2006) and Head of Engineering Department of Jakarta-Tangerang Branch (1998-2001).
SUBSIDIARIES AND ASSOCIATED COMPANIES
31PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
AGUS ACHMADIPresident Director of PT Marga Trans NusantaraHe was appointed President Director of PT Marga Trans Nusantara in 2014. He completed Bachelor’s Degree in Civil Engineering Transportation from Diponegoro University in 1983. Previous key positions among others include Engineering and Operation Director of PT Marga Lingkar Jakarta (2012-2014) and Project Manager of PT Marga Lingkar Jakarta (2010-2012).
SAUT PARLINDUNGAN SIMATUPANGPresident Director of PT Marga Kunciran-CengkarengHaving joined Jasa Marga since 1984, he was appointed President Director of PT Marga Kunciran Cengkareng in 2008. He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1982 and Master’s Degree in International Management from ST PPM in 2001. Previous key positions at Jasa Marga among others include Cikampek-Padalarang Toll Road Development Project Manager (2002-2004), Pluit-Grogol Toll Road Development Project Manager (2001-2002).
DADANG SUMARyANAPresident Director of PT Jasa Layanan PemeliharaanHaving joined Jasa Marga since 1988, he was appointed President Director of PT Jasa Layanan Pemeliharaan on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from Krisnadwipayana University Jakarta in 1999. Previous key positions among others include Engineering Director of PT Jasa Layanan Pemeliharaan (2014) and GM Palikanci (2011-2013).
IwAN MOEDyARNOPresident Director of PT Ismawa TrimitraHaving joined Jasa Marga since 1986, he was appointed President Director of PT Ismawa Trimitra in 2013. At present he is also Ex-Workshop and Jagorawi Branch Office Land Property Development Project Manager (since 2010). He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1985 and Master’s Degree in Business from IIM-Pittsburgh State University in 1993. Previous key positions at Jasa Marga among others include Head of Other Businesses Development Division (2008-2010).
AGUS SUHARJANTOPresident Director of PT Jasa Marga Kualanamu TolHaving joined Jasa Marga since 1986, he was appointed President Director of PT Jasa Marga Kualanamu Tol on 02 February 2015. He completed Bachelor’s Degree in Civil Engineering from Gadjah Mada University in 1986. Previous key positions among others include VP Toll Road Business Development (2014) and President Director of PT Marga Trans Nusantara (2011-2014).
MOHAMAD AGUS SETIAwANVP Related Business DevelopmentHaving joined Jasa Marga since 1996, he was appointed VP Related Business Development on 06 March 2014. He completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1995 and Master’s Degree in Road Network Management Technic of Department of Public Works from Parahyangan Catholic University Bandung in 2009. Previous key positions at Jasa Marga among others include VP Related Business Development (2012-2014) and Head of Other Businesses Investment Planning Sub Division of Other Businesses Development Division (2010-2012).
32 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Human Capital Profile
Number of Permanent Employees at Parent Company 2010-2014(people)
Composition of Permanent Employees at Parent Company by Level of Education
To support the Company’s sustainable growth,
at present the Company is making the efforts to
optimize the empowerment of existing human
resources. The number of permanent employees
Level of Education
2013 2014
Number of Employees
Proportion (%)
Number of Employees
Proportion (%)
S3 1 0.02 1 0.02
S2 70 1.43 86 1.83
S1 500 10.26 464 9.89
Academy 17 0.35 13 0.28
High School 4,210 86.36 4,067 86.68Junior High School 17 0.35 23 0.49
Elementary School 60 1.23 38 0.81
TOTAL 4,875 100.00 4,692 100.00
in 2014 reaching 4,692 people decreased by 3.75%
compared to that of 2013 reaching 4,875 people.
This figure keeps decreasing over the past years
(2010-2014) as shown in the following graph:
2010
5,30
3
2011
5,15
4
2012
5,0
75
2013
4,8
75
2014
4,6
92
Level of Position2013 2014
Number of Employees
Proportion (%)
Number of Employees
Proportion (%)
Top Management 70 1.44 64 1.36
Middle Management 143 2.93 143 3.05
Lower Management 232 4.76 214 4.56
Caretaker 4,430 90.87 4,271 91.03
TOTAL 4,875 100.00 4,692 100.00
Composition of Permanent Employees at Parent Company by Level of Position
33PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Composition of Permanent Employees at Parent Company by Age
COST FOR EDUCATION AND TRAININGPOLICIES IN EMPLOyMENT OPPORTUNITIES
Age
2013 2014
Number of Employees
Proportion (%)
Number of Employees
Proportion (%)
≤25 35 0.72 16 0.34
26-30 83 1.70 91 1.94
31-35 283 5.81 185 3.94
36-40 1,023 20.98 914 19.48
41-45 1,162 23.84 1,078 22.98
46-50 1,375 28.21 1,383 29.48
>51 914 18.75 1,025 21.85
TOTAL 4,875 100.00 4,692 100.00
The Company’s policies in work opportunities, either
in employees’ placement or career development
are stipulated in Joint Working Agreement
(Perjanjian Kerja Bersama – PKB). Jasa Marga
carries out the filling of job formation and career
development selectively and transparently without
discrimination (gender, race, ethnicity, and religion),
while prioritizing internal sources from within the
Company with the regard to the work performance,
capabilities and competencies of the employees.
Throughout 2014, the cost for employees’
education and training of the Company reached
Rp 15.55 billion.
(in billion Rp)
Cost 2013 2014
Education and
Training
18.66 15.55
Status2013 2014
Number of Employees
Proportion (%)
Number of Employees
Proportion (%)
Permanent Employees 4,875 99.35 4,692 99.28
Non-Permanent Employees 32 0.65 34 0.72
TOTAL 4,907 100.00 4,726 100.00
Composition of Employees at Parent Company by Status
34 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
PUBLIC
30%
GOVERNMENT OF THE REPUBLIC OF INDONESIA
70%
Major Shareholder, Subsidiaries & Associated Companies
PT Marga Trans
Nusantara60.00%
PT Jasamarga Kualanamu Tol 55.00%
PT Marga LingkarJakarta65.00%
PT BukakaMargaUtama
20.00%
PT JalantolLingkarluar
Jakarta99.00%
PT CitraBhakti
MargatamaPersada34.83%
PT Jasamarga Pandaan Tol
79.84%
PT MargaNujyasumo
Agung55.00%
PT IsmawaTrimitra25.00%
PT MargaSaranaJabar
55.00%
PT CitraGaneshaMarga
Nusantara30.00%
PT Jasa Layanan Pemeliharaan
99.00%
PT TransmargaJatim
Pasuruan97.20%
PT TransMargaJateng73.90%
PT JasamargaProperti99.00%
PT JasamargaBali Tol55.00%
PT MargaKunciran
Cengkareng76.15%
PT TransLingkar
Kita Jaya21.24%
SUBSIDIARIES(OwNERSHIP >50%)
ASSOCIATED COMPANIES(OwNERSHIP
20%-50%)
PT JASA MARGA (PERSERO) Tbk.
Jasa Marga Group Corporate Structure(as of 31 December 2014)
35PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Subsidiaries
No. Nama Entitas Kepemilikan Saham (%) Bidang Usaha Status*
1. PT Jalantol Lingkarluar Jakarta (JLJ)
- Jasa Marga: 99.00- Inkopkar Jasa Marga: 1.00
Jakarta Outer Ring Road Toll Road Operator
Operated
2. PT Marga Sarana Jabar (MSJ)
- Jasa Marga: 55.00- PT CMNP Tbk: 30.00- PT Jasa Sarana: 15.00
Bogor Outer Ring Road Toll Road Operator
Operated
3. PT Trans Marga Jateng (TMJ)
- Jasa Marga: 73.90- PT Sarana Pembangunan Jawa
Tengah: 26.10
Semarang-Solo Toll Road Operator
Operated
4. PT Marga Nujyasumo Agung (MNA)
- Jasa Marga: 55.00- Moeladi Grup: 25.00- PT Wijaya Karya: 20.00
Surabaya-Mojokerto Toll Road Operator
Operated
5. PT Jasamarga Bali Tol (JBT)
- Jasa Marga: 55.00- PT Angkasa Pura I: 8.00- PT Pelindo III: 17.58- PT Pengembangan Pariwisata
Bali: 1.00- PT Adhi Karya: 1.00- PT Hutama Karya: 1.00- PT Wijaya Karya: 0.40- Pemprov Bali: 8.01- Pemkab Badung: 8.01
Nusa Dua-Ngurah Rai-Benoa Toll Road Operator
Operated
6. PT Marga Lingkar Jakarta (MLJ)
- Jasa Marga: 65.00- PT Jakarta Marga Jaya: 35.00
JORR W2 North Toll Road Operator
Operated
7. PT Transmarga Jatim Pasuruan (TJP)
- Jasa Marga: 97.20- PT Jatim Prasarana Utama: 2.80
Gempol-Pasuruan Toll Road Operator
Not Yet Operated
8. PT Jasamarga Pandaan Tol (JPT)
- Jasa Marga: 79.84- PT Jalan Tol Kabupaten Pasuruan: 11.14- PT Margabumi Matraraya: 9.02
Gempol-Pandaan Toll Road Operator
Not Yet Operated
9. PT Marga Trans Nusantara (MTN)
- Jasa Marga: 60.00- PT Astratel Nusantara: 30.00- PT Transumata Arya Sejahtera: 10.00
Kunciran-Serpong Toll Road Operator
Not Yet Operated
10. PT Marga Kunciran Cengkareng (MKC)
- Jasa Marga:76.15- CMS WIL: 21.00- PT Wijaya Karya: 2.10- PT Nindya Karya: 0.33- PT Istaka Karya: 0.42
Cengkareng-Kunciran Toll Road Operator
Not Yet Operated
11. PT Jasamarga Kualanamu Tol (JMKT)
- Jasa Marga: 55.00- PT Waskita Karya: 15.00- PT Pembangunan Perumahan: 15.00- PT Hutama Karya: 15.00
Medan-Kualanamu-Tebing Tinggi Toll Road Operator
Not Yet Operated
12. PT Jasa Layanan Pemeliharaan (JLP)
- Jasa Marga: 99.00- Inkopkar Jasa Marga: 1.00
Construction, Trading, Car Rental Services
Operated
13. PT Jasamarga Properti (JMP)
- Jasa Marga: 99.00- Inkopkar Jasa Marga: 1.00
Property Related Services, Trading and Development
Operated
Notes:* Status represents the status of toll road operation for toll road companies and status of business/service operation for non-toll
road companies as of 31 December 2014.
as of 31 December 2014
36 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
About the Subsidiaries
1. PT Jalantol Lingkarluar Jakarta (JLJ) JLJ is Jasa Marga’s Subsidiary established
for toll road development, other investment
and supporting services in toll road based on
prevailing rules and regulations, and other fields
of business related to toll road development
by making use of existing potential. JLJ’s main
source of revenue derives from the operation,
maintenance, and security services for Jasa
Marga’s Jakarta Outer Ring Road/JORR Toll Road,
PT Translingkar Kita Jaya’s Cinere-Jagorawi Toll
Road Section 1 and PT Jasamarga Bali Tol’s Nusa
Dua-Ngurah Rai-Benoa Toll Road.
Members of the Board
• PresidentCommissioner:Firmansjah
• Commissioner:Y.B.PriyatmoHadi
• PresidentDirector:SepteriantoSanaf
• Director:AlbertMPSilaen
Members of the Board
• PresidentCommissioner:MaqdirIsmail
• Commissioner:ReynaldiHermansjah
• Commissioner:DiahWahjuSari
• PresidentDirector:MuhammadZahirSiregar
• FinanceDirector:AggiTjetje
• Engineering&OperationDirector:Ach.
Lukman Letnantoro
2. PT Marga Sarana Jabar (MSJ) MSJ is Jasa Marga’s Subsidiary established
for the concession of Bogor Outer Ring Road
Toll Road and is responsible for funding,
technical planning, constructing, operating
and conducting maintenance of the Toll Road
along with other businesses in accordance with
prevailing rules and regulations. The operation
of Bogor Outer Ring Road Toll Road (BORR)
Section 1 of 3.85 km was inaugurated by the
Minister of Public Works on 23 November 2009
and Section 2A of 1.95 km started to operate on
04 June 2014. MSJ gains revenues from toll road
operation.as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 896.35 860.38
Operating Revenues 336.56 132.07
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 103.28 130.89
Operating Revenues 234.50 424.73
37PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
3. PT Trans Marga Jateng (TMJ) TMJ is Jasa Marga’s Subsidiary established
for the concession of Semarang-Solo Toll and
is responsible for funding, technical planning,
constructing, operating and conducting
maintenance of the Toll Road along with other
businesses in accordance with prevailing rules
and regulations. Semarang-Solo Toll Road
Section 1 of 10.80 km has been operated since 12
November 2011 and Section 2 has been operated
since 04 April 2014. TMJ’s main source of revenue
is derived from toll road operation.
Members of the Board
• PresidentCommissioner:Sunaryo
• Commissioner:RadenMasBagus
Wisnu Handoyo
• Commissioner:Hasanudin
• PresidentDirector:DjadjatSudradjat
• FinanceDirector:Darmoko
• EngineeringDirector:AriNugroho
4. PT Marga Nujyasumo Agung (MNA) MNA is Jasa Marga’s Subsidiary established to
conduct business activities for Jasa Marga c.q. the
Minister of Public Works for Surabaya-Mojokerto
Toll Road Concession consisting of constructing,
operating and conducting maintenance of the
Toll Road in accordance with prevailing rules
and regulations. Surabaya-Mojokerto Toll Road
Section 1A of 2.3 km has been operated since 05
September 2011 and the Subsidiary’s main source
of revenue derives from toll road operation.
Members of the Board
• PresidentCommissioner:AgungYunanto
• Commissioner:MuhNajibFauzan
• Commissioner:RaymondRamanan
• PresidentDirector:BudiPramono
• FinanceDirector:SyafaruddinAR
• OperationDirector:EdwinCahyadi
• Administration&GeneralAffairsDirector:
Kamil Rusnandar
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 3,407.47 3,729.26
Operating Revenues 671.92 228.25
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 1,766.14 2,287.88
Operating Revenues 237.95 520.33
38 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
5. PT Jasamarga Bali Tol (JBT) JBT is Jasa Marga’s Subsidiary established
for the concession of Nusa Dua-Ngurah
Rai-Benoa Toll Road and is responsible for
funding, technical planning, constructing,
operating and conducting maintenance
of Nusa Dua-Ngurah Rai-Benoa Toll Road
along with other businesses in accordance
with prevailing rules and regulations. The
operation of the 10 km Toll Road was
inaugurated by the then President of the
Republic of Indonesia Susilo Bambang
Yudhoyono on 24 September 2013.
6. PT Marga Lingkar Jakarta (MLJ) MLJ is Jasa Marga’s Subsidiary established
for the concession of JORR W2 North
Toll Road and is responsible for funding,
technical planning, constructing, operating
and conducting maintenance of JORR W2
North Toll Road along with other businesses
in accordance with prevailing rules and
regulations. The operation of JORR W2 North
Toll Road was inaugurated by the Minister of
Public Works Djoko Kirmanto on 27 December
2013, and on 22 July 2014 the whole section of
7.70 km length is fully operated.
Members of the Board
• PresidentCommissioner:AbdulHadiHs.• Commissioner:IGustiNgurahAskhara Danadiputra• Commissioner:RobertDanielWaloni• Commissioner:IWayanBlayuSuarjaya• Commissioner:IGustiPutuNuriatha• Commissioner:IWayanSuambara• PresidentDirector:A.TitoKarim• FinanceDirector:RonnyHaryanto• Engineering&OperationalDirector: Rismature Sidabutar
Members of the Board
• PresidentCommissioner:Ma’munAmin
• Commissioner:AbdulHadiHs.
• PresidentDirector:SubektiSyukur
• FinanceDirector:YauwDiazMoreno
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 1,846.87 2,026.71
Operating Revenues 564.54 375.54
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 2,172.60 2,074.01
Operating Revenues 575.69 123.05
39PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
7. PT Transmarga Jatim Pasuruan (TJP) TJP is Jasa Marga’s Subsidiary established
for the concession of Gempol-Pasuruan and
is responsible for funding, technical planning,
constructing, operating and conducting
maintenance of Gempol-Pasuruan Toll Road
along with other businesses in accordance
with prevailing rules and regulations. As of
31 December 2014, Gempol-Pasuruan Toll
Road has not yet operated as it was still in the
stage of land acquisition and construction.
The toll road is scheduled to operate in 2015.
8. PT Jasamarga Pandaan Tol (JPT) JPT is Jasa Marga’s Subsidiary established
for the concession of Gempol-Pandaan Toll
Road and is responsible for funding, technical
planning, constructing, operating and
conducting maintenance of Gempol-Pandaan
Toll Road along with other businesses
in accordance with prevailing rules and
regulations. As of 31 December 2014, Gempol-
Pandaan Toll Road has not yet operated as it
was still under construction. The toll road is
scheduled to operate in 2015.
Members of the Board
• PresidentCommissioner:DavidWijayatno
• Commissioner:BambangKusbandono
• Commissioner:Moh.NoorMarzuki
• PresidentDirector:HengkiHerwanto
• FinanceDirector:Imron
• EngineeringDirector:-
Members of the Board
• PresidentCommissioner:Moh.Khusaini
• Commissioner:MoertomoBasoeki
• Commissioner:Firmansyah
• Commissioner:ToluIsmedArief
• PresidentDirector:Setiyono
• FinanceandHRDirector:TriRiyaningsih
• EngineeringandOperationDirector:Rahardjo
• Administration&GeneralAffairsDirector:
Nursyam
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 629.22 932.90
Operating Revenues 499.56 314.91
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 801.58 1,153.80
Operating Revenues 443.33 369.04
40 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
9. PT Marga Trans Nusantara (MTN) MTN is Jasa Marga’s Subsidiary established
for the concession of Kunciran-Serpong Toll
Road and is responsible for the funding,
technical planning, constructing, operating
and conducting maintenance of the toll road
along with other businesses in accordance
with prevailing rules and regulations. As of 31
December 2014, Kunciran-Serpong Toll Road
has not yet operated as it was still in the stage
of land acquisition.
10.PT Marga Kunciran Cengkareng (MKC) MKC is Jasa Marga’s Subsidiary established
for the concession of Kunciran-Cengkareng
Toll Road and is responsible for funding,
technical planning, constructing, operating
and conducting maintenance of Kunciran-
Cengkareng Toll Road along with other
businesses in accordance with prevailing rules
and regulations. As of 31 December 2014,
Kunciran-Cengkareng Toll Road has not yet
operated as it was still in the stage of land
acquisition.
Members of the Board
• PresidentCommissioner:IrawanSantoso
• VicePresidentCommissioner:Subagyo
• Commissioner:WiwiekDianawatiSantoso
• PresidentDirector:AgusAchmadi
• Director:RachmatSoulisa
Members of the Board
• PresidentCommissioner:DediKrisnariawan
Sunoto
• Commissioner:MohamadHusin
• PresidentDirector:SautParlindungan
Simatupang
• EngineeringDirector:HendroAtmodjo
• FinanceDirector:ZaidibinIbrahim
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 351.56 788.35
Operating Revenues - -
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 270.39 940.95
Operating Revenues - -
41PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
11. PT Jasamarga Kualanamu Tol (JMKT) JMKT is Jasa Marga’s Subsidiary established
for the concession of Medan-Kualanamu-
Tebing Tinggi Toll Road and is responsible
for funding, technical planning, constructing,
operating and conducting maintenance of
Medan-Kualanamu-Tebing Tinggi Toll Road
along with other businesses in accordance
with prevailing rules and regulations. JMKT
was established on 25 November 2014.
12. PT Jasa Layanan Pemeliharaan (JLP) JLP, previously was PT Sarana Marga Utama,
is Jasa Marga’s Subsidiary established to work
in the line of business of construction, trade
and car rental services.
Members of the Board
• PresidentCommissioner:JBEddyBambangS.
• Commissioner:DidiTriyono
• PresidentDirector:AgusSuharjanto
• Director:AgusCholiq
Members of the Board
• PresidentCommissioner:MuhNajibFauzan
• Commissioner:AriefWitjaksono
• PresidentDirector:DadangSumaryana
• Finance&GeneralAffairsDirector:
Surta Nababan
• EngineeringDirector:AdiPrasetyanto
PT Jasa Layanan Pemeliharaan (JLP)
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets - 80.29
Operating Revenues - -
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 159.61 157.90
Operating Revenues 205.47 182.95
42 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
ABOUT ASSOCIATED COMPANIES
1. PT Trans Lingkar Kita Jaya (TLKJ) TLKJ was established for the concession of
Cinere-Jagorawi Toll Road based on Deed No. 18 dated 19 January 2005 of Notary Agus Madjid, SH. The deed was approved by the Ministry of Justice and Human Rights of the Republic of Indonesia with the Decision No. C-03269.HT.01.01 dated 07 February 2006. The latest amendment
13. PT Jasamarga Properti (JMP) JMP is Jasa Marga’s Subsidiary working in the
field of property services.
Members of the Board
• PresidentCommissioner:IbnuPurna
• Commissioner:AbdulHadiHs.
• PresidentDirector:MohamadAgusSetiawan
• EngineeringandBusinessDevelopment
Director: Irwan Hasan
• FinanceDirector:HarisPrayudi
of Articles of Association was stipulated in Deed No. 76 dated 29 November 2012 of Notary Nanette Cahyanie Handari Adi Warsito, SH. and was approved by the Ministry of Justice and Human Rights of the Republic of Indonesia with the Decision No. AHU-AH.01.10-42662 dated 30 November 2012. TLKJ is domiciled in Jakarta.
as of 31 December
Financial Highlights (Rp billion)
Description 2013 2014
Assets 63.55 120.39
Operating Revenues - 1.71
Associated CompaniesPT Jasa Marga (Persero) Tbk. Associated Entity
No. CompanyJasa Marga’s
Share Ownership (%)
Line of Business Status *
1. PT Trans Lingkar Kita Jaya
21.24 Cinere-Jagorawi Toll Road Operator
Operated
2. PT Ismawa Trimitra 25.00 Space Rent and Rest Area Management
Operated
3. PT Bukaka Marga Utama
20.00 Toll Road Operator Not Yet Operated
4. PT Citra Bhakti Margatama Persada
38.43 Toll Road Operator Termination of Concession Agreement
5. PT Citra Ganesha Marga Nusantara
30.00 Toll Road Operator Termination of Concession Agreement
as of 31 December 2013
43PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
The Company owns 131,688 shares at par value of Rp 1,000,000 per share or equivalent to Rp 131,688,000,000 representing 21.24% ownership as of 31 December 2014.
2. PT Ismawa Trimitra (IT) IT was established based on Deed No. 69 dated
14 June 1995 of Notary Imas Fatimah, SH., for the business of office space rent and management of rest areas on toll roads. IT is domiciled in Jakarta. The Company owns 6.250.000 shares at par value of Rp 1,000 per share or equivalent to Rp 6,250,000,000 representing 25% ownership as of 31 December 2014.
3. PT Bukaka Marga Utama (BMU) BMU was established based on Deed No. 5 dated
17 February 1997 of Notary Sri Rahayu Sedyono, SH. The investment in BMU was made in relation to the construction and operation of Ciawi-Sukabumi toll road project. The Company owns 4,000 shares at par value of Rp 2,359,000 (full Rupiah amount) per share or equivalent to Rp 9,436,000,000, representing 20% ownership. Since the majority shareholders of BMU could not ensure the toll road development as agreed under the Concession Agreement, the Company recognized the loss on impairment of this investment amounted to Rp 9,435,999,000 as an expense in 2005.
4. PT Citra Bhakti Margatama Persada (CBMP) CBMP is one of the Company’s associated
companies. The investment in CBMP was made in relation to the construction and operation of JORR Toll Road Section E2-E3-N (Cikunir-Cakung-Cilincing-Tanjung Priok) for a period of 33 years ending in 2028. The Company owns 56,787,000 shares at par value of Rp 1,000 per share or equivalent to Rp 56,787,000,000, representing 34.83% ownership. CBMP’s toll road construction was financed by loan facilitated by banking syndicate. The economic crisis caused
uncertainty in CBMP’s capability to settle its liabilities at the maturity date and in realizing the loan facilities to finance the toll road construction. Banking restructuring conducted by certain of CBMP’s creditors resulted in the stoppage of the toll road development. The Company sent Letter No. AA.02.1009 dated 25 July 2000 regarding the termination of the Concession Agreement No. 96 dated 16 December 1995 to CBMP and as a consequence, the Company’s investment in the associated company has no economic value. The Company has recognized loss on impairment of the investment shares of CBMP amounting to Rp 56,786,999,000 in 2000.
5. PT Citra Ganesha Marga Nusantara (CGMN) The investment in CGMN was made in relation to
the construction and operation of the Cikampek-Padalarang Toll Road project. The Company owns 5,310 shares at par value of Rp 1,841,000 per share or equivalent to Rp 9,775,710,000 representing 30% ownership. The Company sent Letter No. AA.HK01.1273 dated 25 July 2001 to CGMN regarding termination of the Concession Agreement No. 297 as a follow up of the Decision of the Minister of Settlement and Regional Infrastructure of the Republic of Indonesia No. 417 dated 18 July 2001 regarding the revocation of the Decision of the Minister of Public Works of the Republic of Indonesia No. 321/KPTS/1994 dated 24 October 1994 regarding the Granting of License for Cooperation of the Development of Cikampek-Padalarang Toll Road in the form of a joint venture with CGMN and as a result of such termination, the investment in CGMN has no economic value. The Company recognized loss on impairment of this investment in shares of CGMN as an expense amounting to Rp 16,914,266,000 in 2001.
44 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Areas of Operation and New Toll Road ProjectsThe location of toll road sections operated by the Company along with its toll road
projects all across Indonesia is shown in the following map:
MAP OF JASA MARGA TOLL ROADS LOCATION
JABODETABEK AND EAST JAVA• Jagorawi: 59.00 Km• Jakarta - Tangerang: 33.00 Km• Ulujami- Pondok Aren: 5.55 Km• Jakarta Inner Ring Road: 23.55 Km• Prof Dr. Ir. Sedyatmo: 14.30 Km• Jakarta - Cikampek: 83.00 Km• Jakarta Outer Ring Road: 43.10 Km• Cikampek - Padalarang: 58.50 Km• Padalarang - Cileunyi: 64.40 Km• Palikanci: 26.30 Km• Bogor Outer Ring Road: 11.00 Km• Cengkareng-Kunciran: 14.19 Km• Kunciran Serpong: 11.19 Km• JORR W2 North: 7.70 Km
CENTRAL JAVA• Semarang: 24.75 Km• Semarang - Solo: 72.64 Km
NORTH SUMATERA• Belmera: 42.70 Km• Medan-Kualanamu-Tebing Tinggi: 61.70 Km
BALI• Nusa Dua - Ngurah Rai - Benoa: 10.00 Km
EAST JAVA• Surabaya - Gempol: 49.00 Km• Surabaya - Mojokerto: 36.27 Km• Gempol - Pasuruan: 34.15 Km• Gempol - Pandaan: 13.61 Km
JAwA
SUMATERA
KALIMANTAN
SULAwESI
MALUKU
PAPUA
NOTES:• The Company’s toll road sections that are fully operated.
• The Company’s new toll road sections, both not yet operated or already operated in stages, namely:1. BORR Section 1: Sentul-Kedung Halang (3.85 km) operated since 23 November 2009;
Section 2A: Kedung Halang-Kedung Badak (1.95 km) operated since 04 June 2014.2. Surabaya-Mojokerto Section 1A (2.30 km) operated since 05 September 2011.3. Semarang-Solo Section 1: Semarang-Ungaran (10.80 km) operated since 17 November
2011; Section 2: Ungaran-Bawen (12.30 km) operated since 04 April 2014.4. Nusa Dua-Ngurah Rai-Benoa (10.00 km) fully operated since 01 October 2013.5. JORR W2 North (7.70 km) fully operated since 22 July 2014.
as of 31 December 2014
45PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Concessions Owned by the CompanyThe concession period of Jasa Marga’s toll roads ranges from 35 to 45 years. As many as 13 toll
road sections operated by the Company have a concession period of 40 years starting from 2005
(excluding JORR Section S). With only a small portion of the period already exhausted as of the end
of 2014, the Company still has long remaining years of the concession period.
Until the end of 2014, the status and concession period of the Company’s toll road sections are
as follows:
Concessions of Jasa Marga Toll Roads as of 31 December 2014
No. Section Operator Length (km)
year Concession
Starts
Date Concession Agreement
Signed
Concession Period (year)
Status
1. Jagorawi (Jakarta-Bogor-Ciawi)
Jagorawi Branch
59.00 2005 07 July 2006 40 Operated since 1978
2. Jakarta-Tangerang
Jakarta-Tangerang Branch
33.00 2005 07 July 2006 40 Operated since 1984
3. Prof. Dr. Ir. Sedyatmo
Cawang-Tomang-Cengkareng
14.30 2005 07 July 2006 40 Operated since 1984
4. Jakarta Inner Ring Road (JIRR)
Cawang-Tomang-Cengkareng Branch
23.55 2005 07 July 2006 40 Operated since 1987
5. Jakarta-Cikampek
Jakarta-Cikampek Branch
83.00 2005 07 July 2006 40 Operated since 1988
6. Padaleunyi (Padalarang-Cileunyi)
Purbaleunyi Branch
64.40 2005 07 July 2006 40 Operated since 1990
7. Cipularang (Cikampek-Purwakarta-Padalarang)
Purbaleunyi Branch
58.50 2005 07 July 2006 40 Operated since 2003
8. Palikanci (Palimanan-Kanci)
Palikanci Branch
26.30 2005 07 July 2006 40 Operated since 1998
9. Semarang Semarang Branch
24.75 2005 07 July 2006 40 Operated since 1983
10. Surabaya-Gempol
Surabaya-Gempol Branch
49.00 2005 07 July 2006 40 Operated since 1986
11. Belmera (Belawan-Medan-Tanjung Morawa)
Belmera Branch
42.70 2005 07 July 2006 40 Operated since 1986
46 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
No. Section Operator Length (km)
year Concession
Starts
Date Concession Agreement
Signed
Concession Period (year)
Status
12. Jakarta Outer Ring Road (JORR)*)
PT Jalantol Lingkarluar Jakarta
43.10 2005 07 July 2006 40 Operated since 1991
13. Ulujami-Pondok Aren
PT Jalantol Lingkarluar Jakarta
5.55 2005 07 July 2006 40 Operated since 2001
14. Bogor Outer Ring Road (BORR)
PT Marga Sarana Jabar
11.00 2009 29 May 2006 45 Operated since 2009• Section
1 Sentul Selatan-Kedung Halang (3.85 km): operated since 23 November 2009
• Section2AKedung Halang-Kedung Badak (1.95 km): operated since 04 June 2014
15. JORR W2 Utara
PT Marga Lingkar Jakarta
7.70 2005 07 July 2006 40 Fully operated since 22 July 2014
16. Cengkareng-Kunciran
PT Marga Kunciran Cengkareng
14.19 -not yet constructed
02 March 2009 35 Land acquisition
17. Kunciran-Serpong
PT Marga Trans Nusantara
11.19 -not yet constructed
22 September 2008
35 Land acquisition
47PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
No. Section Operator Length (km)
year Concession
Starts
Date Concession Agreement
Signed
Concession Period (year)
Status
18. Semarang-Solo
PT Trans Marga Jateng
72.64 2010 15 December 2006 45 Operated since 2011• StageI
Section 1 Semarang-Ungaran (10.80 km): operated since 12 November 2011
• StageISection 2 Ungaran-Bawen (12.30 km): operated since 04 April 2014
19. Surabaya-Mojokerto
PT Marga Nujyasumo Agung
36,27 2007 06 April 2006 42 Operated since 2011• Section
1A Waru-Sepanjang (2.30 km): operated since 05 September 2011
20. Gempol-Pasuruan
PT Transmarga Jatim Pasuruan
34,15 2013 29 May 2006 45 Land acquisition and construction
21. Gempol-Pandaan
PT Jasamarga Pandaan Tol
13,61 2012 19 December 2006
35 Land acquisition and construction
22. Nusa Dua-Ngurah Rai-Benoa
PT Jasamarga Bali Tol
10,00 2012 16 December 2011 45 Fully operated since 01 October 2013
23. Medan-Kualanamu-Tebing Tinggi
PT Jasamarga Kualanamu Tol
61,70 -(not yet constructed)
05 January 2015 45 Land acquisition
Note: *) Excluding JORR Section S
48 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Address of Branch Offices, Subsidiaries and Associated CompaniesBranch Offices and Business Unit
No. Branch Address Phone/Fax/e-mail
1. Jagorawi Branch Jln. Raya Taman Mini Indonesia IndahJakarta 13560
Tel.: 62 21 841 3632, 840 0732Fax.: 62 21 840 0055e-mail: [email protected]
2. Cawang-Tomang-Cengkareng Branch
Plaza Tol CililitanJln. Cililitan BesarJakarta 13510
Tel.: 62 21 8088 7227Fax.: 62 21 8088 7228e-mail: [email protected]
3. Jakarta-Cikampek Branch
Jln. Teuku Umar, Sepanjang JayaRawa LumbuBekasi 17114
Tel.: 62 21 821 6515, 8243 0045/48Fax.: 62 21 821 6507e-mail: [email protected]
4. Jakarta-Tangerang Branch
Plaza Tol TangerangJln. Raya SerpongTangerangBanten 15001Jawa Barat
Tel.: 62 21 5575 3904/6237Fax.: 62 21 5575 4029e-mail: [email protected]
5. Palikanci Branch Jln. Jend. Sudirman No. 138CipernaCirebon 45171
Tel.: 62 231 489 800, 484 268Fax.: 62 231 483 457e-mail: [email protected]
6. Purbaleunyi Branch Plaza Tol PasteurJln. Dr. Djundjunan No. 257Bandung 40164
Tel.: 62 22 200 0867/68Fax.: 62 22 201 1433e-mail: [email protected]
7. Semarang Branch Plaza Tol ManyaranJln. Tol SemarangSemarang 50147
Tel.: 62 24 760 6012/14Fax.: 62 24 762 3940e-mail: [email protected]
8. Surabaya-Gempol Branch
Plaza Tol Kota SatelitJln. Mayjen. SungkonoSurabaya 60189
Tel.: 62 31 567 9401/2008Fax.: 62 31 732 9941e-mail: [email protected]
9. Belmera Branch Jln. Simpang Tanjung No. 1AMedan 20241
Tel.: 62 61 661 1701/2920Fax.: 62 61 661 1055e-mail: [email protected]
10. Rest Area Business Unit Jalan Tol Purbaleunyi KM 88 Jalur B Sukatani Purwakarta 41167
Tel.: 62 264 8280388Fax.: 62 264 8260288
49PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
SubsidiariesNo. Subsidiary Address Phone/Fax/e-mail
1. PT Jalantol Lingkarluar Jakarta
Plaza Tol Jati AsihBekasi 17423
Tel.: 62 21 822 3232 Fax.: 62 21 820 5151e-mail: [email protected]
2. PT Marga Sarana Jabar Plaza Tol Sentul BaratJalan Tol Lingkar Luar Bogor 16710PO BOX 2012
Tel.: 62 21 29255000Fax.: 62 21 29259942
3. PT Trans Marga Jateng Jln. Murbei No. 1Sumur Boto BanyumanikSemarang Jawa Tengah
Tel.: 62 24 747 5735Fax.: 62 24 747 5735
4. PT Marga Nujyasumo Agung Jln. Raya Taman, Plaza Tol Waru I Ramp Sidoarjo 61257
Tel.: 62 31 787 9994/9995Fax.: 62 31 787 9993
5. PT Jasamarga Bali Tol Gedung Ikat Plaza Lt. 3Jln. By Pass I Gusti Ngurah Rai No. 505Pemogan 80221Denpasar, Bali
Tel.: 62 361 725 326/327Fax.: 62 361 725 327
6. PT Marga Lingkar Jakarta Plaza Pondok Indah 3 Blok B No. 7Jln. T. B. SimatupangJakarta
Tel.: 62 21 75900256Fax.: 62 21 7660547
7. PT Transmarga Jatim Pasuruan
Perumahan Pondok Jati Blok CH No. 9, SidoarjoJawa Timur 61251
Tel.: 62 31 807 0680Fax.: 62 31 807 0670
8. PT Jasamarga Pandaan Tol Plaza Tol Pandaan, PandaanJawa Timur 67156
Tel.: 62 343 565 0727Fax. : 62 343 565 0727
9. PT Marga Kunciran Cengkareng
Ruko Business Park Tangerang City No. A 19Jln. Jend. Sudirman No. 1 CikokolTangerang 15117
Tel.: 62 21 5578 2453Fax.: 62 21 5578 2456
10. PT Marga Trans Nusantara Ruko Bidex Blok H. No. 7Jln. Pahlawan Seribu, BSD CityTangerang
Tel.: 62 21 5315 4680Fax.: 62 21 5315 4681
11. PT Jasamarga Kualanamu Tol Gedung Graha TB Simatupang Wing 2B Lantai 11Jln. TB Simatupang Kav. 38,Jakarta Selatan 12450
12. PT Jasa Layanan Pemeliharaan
Komplek Bina Marg No. 2Jln. Bina Marga CipayungJakarta 13840
Tel.: 62 21 8444640Fax.: 62 21 84598768
13. PT Jasamarga Properti Plaza Tol Taman Mini Indonesia IndahJln. Jasa Marga RT 008/002Kel. Dukuh, Kec. Kramat JatiJakarta Timur
Tel.: 62 21 841 3632, 840 0732
Associated CompaniesNo. Associated Company Address Phone/Fax/e-mail
1. PT Trans Lingkar Kita Jaya Jln. Gas Alam Kp. Pedurenan RT/RW.06/07Kel. Harjamukti, Kec. CimanggisDepok 16954
Tel.: 62 21 8775 7676Fax.: 62 21 8775 0141e-mail: [email protected]
2. PT Ismawa Trimitra Graha IskandarsyahJln. Iskandarsyah Raya 66 C, Kebayoran BaruJakarta Selatan 12160
Tel.: 62 21 7207 5858Fax.: 62 21-7209 935e-mail: [email protected]
3. PT Bukaka Marga Utama Jln. Raya Pasar Minggu Kav. 17-AJakarta
Tel.: 62 21 7944 386 Fax.: 62 21-7944 376
50 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Supporting Institutions and ProfessionalsSECURITIES ADMINISTRATION AGENCy PT Datindo entrycom
Address Puri Datindo – Wisma Sudirman Jln. Jend.Sudirman Kav. 34-35
Jakarta 10220 Tel.: 62 21 570 9009 Fax.: 62 21 570 9026
Services Maintaining Shareholders Register and recording the changes in shareholders register in secondary market.
RATING AGENCy PT Pemeringkat efek Indonesia
Address Panin Tower Senayan City 17th Floor Jln. Asia Afrika Lot 19 Jakarta 10720 Tel.: 62 21 7278 2380 Fax.: 62 21 7278 2370
Services Performing the rating of Jasa Marga’s Bonds (Bond I Series JM-10 No Coupon Year 2010, Bond XI Series P Year 2003, Bond XII Seri Q Year 2006, Bond XIII Series R Year 2007, Bond XIV Seri JM-10 Year 2010, Continuous Bond Stage I Series S Year 2013 and Continuous Bond Stage II Series T Year 2014).
51PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
NOTARy Ir. Nanette Cahyanie Handari adi Warsito, sH.
Address Jln. Panglima Polim V 11Melawai, Kebayoran BaruJakarta Selatan 12160
Services Jasa Marga’s Notary at the Annual General Meeting of Shareholders for fiscal year 2014.
LEGAL CONSULTANT soemarjono, Herman & rekan
Address Jl. Sultan Agung 62, Pasar Manggis, Setiabudi Jakarta Selatan 12970
Services Jasa Marga’s Legal Consultant at the Annual General Meeting of Shareholders for fiscal year 2014.
PUBLIC ACCOUNTANT Public accounting Firm aryanto, amir Jusuf, Mawar & saptoto (rsM aaJ associates)
Address Plaza ABDA, Lantai 10 Jln. Jend.Sudirman Kav. 59 Jakarta 12190 Tel.: 62 21 5140 1340 Fax.: 62 21 5140 1350
Services • GeneralAuditontheConsolidatedFinancialStatementsofPTJasaMarga(Persero)Tbk.forthe year ended 31 December 2014.
• ComplianceAuditonprevailingrulesandregulationsalongwiththeCorporateInternalControlSystem.
• GeneralAuditonFinancialStatementsofPartnershipandCommunityDevelopmentProgramsof PT Jasa Marga (Persero) Tbk. for the year ended 31 December 2014.
• ReviewonPerformanceReportofPTJasaMarga(Persero)Tbk.fiscalyear2014whichincludes review on achievement of Key Performance Indicator (KPI) of the Company and review on achievement of KPI of Directors and Board of Commissioners fiscal year 2014.
52 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
53PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Jasa Marga has made fundamental transformation in its business management with the purpose of adding its operating toll roads, increasing revenue capacity, improving customer satisfaction, along with boosting efficiency
Transformation of Jasa Marga
To support the Company’s Vision and Mission of
2017 and 2022, as well as to adjust its condition
to the changes in business condition of toll road
industry, Jasa Marga has made fundamental
transformation in its business management with
the purpose of adding its operating toll roads,
increasing revenue capacity, improving customer
satisfaction, along with boosting efficiency.
The transformations carried out by Jasa
Marga encompass improvements of system
and procedure along with business process,
implementation of performance evaluation system,
and development of business potential. Following
are the efforts in Transformation carried out by
Jasa Marga throughout 2014.
Human Capital Transformation
IMPLEMENTATION OF PERFORMANCE MANAGEMENT SySTEM AND EMPLOyEES COMPETENCy MANAGEMENTTo accomplish its Vision and Mission, the Company
requires human resources that drive towards the
achievements of the agreed targets. To direct,
motivate and ensure that the entire employees
give their contribution to the maximum level
in accordance with their respective fields, the
Company therefore implements Performance
Management System (Sistem Manajemen Kinerja
– SMK) and Employees Competency Management
(Manajemen Kompetensi Karyawan – MKK) to
support the abovementioned achievements.
54 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
SMK is implemented by carrying out a series of
activities performed by all employees as both
subordinate and superior in order to achieve the
goal set by the Company. The implementation
begins with planning, monitoring/review, coaching,
and performance evaluation, along with follow up
in the form of extending rewards and punishment.
The implementation of SMK will be conducted
continuously.
In order to make sure of the success of SMK
implementation, the Company supports it by
also implementing MKK. MKK is conducted by
all employees in view of employees’ competency
management to boost high performance starting
from determining job competency, employees
competency assessment/measurement and
follow up in the form of extending rewards and
development (career trainings, enrichments) and it is
conducted continuously.
IMPLEMENTATION OF KEy PERFORMANCE INDICATORS (KPI) In view of improving the Company’s performance
to reach the next growth, Jasa Marga also makes
transformation in setting Key Performance
Indicator (KPI), based on Criteria for Excellent
Performance Assessment (Kriteria Penilaian Kinerja
Unggul – KPKU), the guidelines issued by the
Ministry of State-Owned Enterprises. In principle,
KPKU is based on balanced score card. The setting
of KPI based on balanced score card has started
in 2010 by integrating it at the levels of Corporate,
Directorate, Work Units of Head Office, Branch
Offices and Subsidiaries.
In 2014, KPI has been cascaded to individual KPI, it is
therefore expected that this will enhance integration
and harmony among individual performance, work
units and the Company. The implementation of
individual KPI is also carried out simultaneously
with the implementation of system improvement
of performance-based remuneration in which each
individual receives different incentive depending on
his/her performance achievement reflected in the
KPI achievement.
Operational TransformationJasa Marga continues to improve the ease and
convenience of transaction services at toll gates by
implementing electronic card known by the name
of e-Toll Card. In 2014, Jasa Marga has implemented
the use of e-Toll Card on all of its operating toll roads
in Indonesia, operated by both Jasa Marga as well
as its Subsidiaries. This suggests the Company’s
significant effort which enables the use of e-Toll
Card on toll road sections applying closed system,
hence widening the use of cashless transaction for
the convenience of the toll road users.
Jasa Marga has increased its Automated Toll Booth
(Gardu Tol Otomatis – GTO) and as of the end of
2014, the Company’s GTO represent 30% of the
total number of operating toll booths of 933 units all
across Indonesia. Jasa Marga is targeting to operate
GTO up to 50% of the total toll booths in 2016 and
this is expected to increase the use of e-Toll Card
presently reaching 12%.
55PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Transformation of Financial Management In the financial aspect, the Company makes
improvements of management information system
required in supporting the success of financial
management that will boost financial management
well, effectively and efficiently.
In 2014, the Company has completed and
implemented Accounting Financial Transaction
and Procedure System and Manual with the
following objectives:
a. The reference in preparing and presenting
financial statements in accordance with the
purpose.
b. The source of reference in solving issues related
to financial reporting.
c. The guidelines, meaning and direction for those
carrying out the financial recording, controlling
and reporting.
d. The basis in making and developing application
system.
e. The reference for Internal Audit Unit in carrying
out its audit on accounting activities.
Transformation of Investment DevelopmentIn 2014, Jasa Marga succeeded in acquiring the
concession of a new toll road section, i.e. Medan-
Kualanamu-Tebing Tinggi Toll Road. Having this
concession represents the Company’s effort to
keep adding to its length of toll road concessions
that the Company owns. Until the end of 2014,
Jasa Marga has operated a total length of 576 km
toll roads and the number will continue to increase
as the Company completes and accelerates the
development of new toll roads.
In the year 2018, Jasa Marga is expected to operate
771 km toll roads, maintaining Jasa Marga’s position
as the market leader of toll road industry in
Indonesia.
In addition, the Company also maximizes its assets
and resources by managing the opportunity of
businesses related to toll road by developing
property and toll road maintenance businesses.
The said businesses will be in synergy with the
Company’s core business activities.
56 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
(in billion Rupiah, unless otherwise stated)
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 2010 2011 2012 2013* 2014
Operating Revenues 4,379 6,486 9,070 10,271 9,175
Operating Expenses (2,390) (4,155) (6,095) (8,012) (6,131)
Operating Income 1,988 2,330 2,975 2,259 3,044
Income before Taxes 1,476 1,590 2,055 1,311 1,822
Tax Expenses (292) (411) (519) (382) (607)
Income for the Year Attributable to:
Owner of the Parent Entity 1,193 1,196 1,602 1,028 1,403
Non-Controlling Interest (9) (17) (66) (99) (188)
Total Income (Loss) of the Year 1,184 1,179 1,536 929 1,215
Comprehensive Income for the Year Attributable to:
Owner of the Parent Entity 1,195 1,198 1,603 1,026 1,404
Non-Controlling Interest (9) (17) (66) (99) (188)
Total Comprehensive Income for the Year 1,186 1,180 1,536 928 1,216
DATA ON SHARES
Number of Shares Outstanding (million shares) 6,775 6,775 6,800 6,800 6,800
Earnings per Share (full Rupiah amount) 176 177 236 151 206
Dividend per Share (full Rupiah amount) 106 79 94 79 * *
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Total Assets 18,952 20,916 24,754 28,059 31,858
Total Liabilities 10,593 12,555 14,966 17,501 20,433
Total Equity 8,359 8,361 9,788 10,558 11,425
Capital Expenditure 1,181 2,304 1,832 4,931*** 4,788***
Investment in Associate Companies 201 201 176 179 171
Working Capital Net 1,612 228 (2,117) (1,083) (672)
FINANCIAL RATIOS (%)
Return on Assets 6.30 5.72 6.47 3.66 4.41
Return on Equity 14.28 14.31 16.37 9.73 12.28
Net Profit Margin 273.26 18.45 17.66 10.01 15.30
Current Ratio 165.04 98.21 68.16 77.77 84.43
Debt to Equity Ratio 126.71 150.00 152.90 165.76 178.84
Debt to Assets Ratio 55.89 60.03 60.46 62.37 64.14
INDUSTRy RATIOS
Toll Revenues to Length of Toll Roads Ratio (Rp billion/km) 8.11 8.89 10.24 10.36 11.53
Toll Revenues to Number of Employees Ratio (Rp billion/people) 0.81 0.94 1.10 1.19 1.42
*) Restated **) Will be decided at AGMS in 2015 ***) Total Consolidated Capital Expenditure
Highlights 2014Financial Highlights 2010 - 2014
57PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
OPERATING INCOME(billion Rupiah)
EARNINGs PER shARE(billion Rupiah)
EquITy (billion Rupiah)
OPERATING ExPENsEs (billion Rupiah)
INCOME FOR ThE yEAR ATTRIBuTABLE TO OWNER OF ThE PARENT ENTITy (billion Rupiah)
LIABILITIEs (billion Rupiah)
OPERATING REvENuEs (billion Rupiah)
INCOME BEFORE TAxEs (billion Rupiah)
AssETs(billion Rupiah)
2010
2010
2010
2010
2010
2010
2010
20102011
2011
2011
2011
2011
2011
2011
2011
6,4
86
1,59
0
20,9
16
1,19
6
12,5
55
177
8,36
1 2,
330
4,3
79
1,4
76
18,9
52
1,19
3 10
,593
176
8,
359
1,
988
2012
2012
2012
2012
2012
2012
2012
2012
9,0
70
2,0
55
24,7
54
1,6
02
14,9
66
236
9,
788
2,97
5
2013*
2013*
2013*
*) Restated
2013*
2013*
2013*
2013*
2013*
10,2
71
1,31
1 28
,059
1,0
2817
,50
1
151
10,5
58
2,25
9
2014
2014
2014
2014
2014
2014
2014
2014
9,17
5 1,
822
31,8
58
1,4
03
20,4
33
206
11,4
25
3,0
44
2010
4.3
79
2011
2,39
0
2012
6,0
95
4,1
552013*
8,0
12
2014
6,1
31
Financial Achievements 2010-2014
58 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Operational Highlights 2010-2014
Description 2010 2011 2012 2013 2014
Length of Toll Roads (km) 531 545 545 560 576
Traffic Volume Transaction (billion vehicles) 0.96 1.09 1.20 1.26 1.32
SPM (minimum level of service) Fulfillment Fulfilled Fulfilled Fulfilled Fulfilled Fulfilled
Number of Permanent Employees (people) 5,303 5,154 5,075 4,875 4,692
Number of Toll Collectors (people) 3,653 3,805 4,724 4,917 5,094
Average Daily Traffic (vehicles) 2,621,618 2,991,176 3,291,413 3,447,999 3,613,699
Average Daily Toll Revenues (thousand Rupiah) 11,797,550 13,269,123 15,292,473 15,897,897 18,209,295
Transaction Traffic Volume 2010-2014(billion vehicles transactions)
Length of Toll Road Concessions Owned by Jasa Marga 2010-2014 (km)
2010 2011
1.0
9
0.9
6
2012
1.20
2013
1.26
2014
1.32
2004
527
2005
527
2006
527
2007
527
2008
527
2009
531
2010
531
2011
545
2012
545
2013
560
2014
576
59PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Stocks Highlights
Quarterly JSMR Share Price & Volume at the Indonesia Stock Exchange 2007-2014
yearHigh Low Close Traded Shares
Volume Number of Shares
Outstanding Market
Capitalization
(full Rupiah amount) (shares) (shares) (Rp billion)
2007 4Q 2,200 1,700 1,900 7,779,000 6,800,000,000 12,920
2008
1Q 2,025 1,220 1,400 844,500 6,800,000,000 9,520
2Q 1,450 1,150 1,160 2,034,500 6,800,000,000 7,888
3Q 1,380 830 1,010 667,500 6,800,000,000 6,868
4Q 1,000 610 910 10,152,500 6,800,000,000 6,188
2009
1Q 1,060 830 900 11,740,000 6,800,000,000 6,120
2Q 1,740 900 1,550 1,768,000 6,800,000,000 10,540
3Q 1,920 1,540 1,870 6,375,000 6,800,000,000 12,716
4Q 1,940 1,710 1,810 5,534,500 6,775,476,500* 12,264
2010
1Q 1,900 1,660 1,790 12,074,000 6,775,476,500 12,128
2Q 2,200 1,750 2,025 7,123,000 6,775,476,500 13,720
3Q 3,375 2,000 3,200 8,456,500 6,775,476,500 21,682
4Q 3,900 3,150 3,425 9,506,500 6,775,476,500 23,206
2011
1Q 3,575 2,925 3,400 10,509,500 6,775,476,500 23,037
2Q 3,650 3,250 3,625 16,022,000 6,775,476,500 24,561
3Q 4,275 3,400 3,975 6,335,500 6,775,476,500 26,933
4Q 4,275 3,550 4,200 2,323,500 6,775,476,500 28,457
2012
1Q 5,150 4,125 5,150 17,973,000 6,775,476,500 34,894
2Q 5,700 4,875 5,400 8,058,500 6,800,000,000* 36,720
3Q 6,000 5,300 5,850 10,731,500 6,800,000,000 39,780
4Q 5,950 5,450 5,450 10,019,500 6,800,000,000 37,060
2013
1Q 5,950 5,100 5,950 17,130,000 6,800,000,000 40,460
2Q 6,950 5,700 6,050 16,095,500 6,800,000,000 41,140
3Q 6,000 5,300 5,200 11,699,000 6,800,000,000 35,360
4Q 5,800 4,525 4,725 4,192,000 6,800,000,000 32,130
2014
1Q 6,000 4,450 6,000 8,783,600 6,800,000,000 40,800
2Q 6,175 5,800 5,975 6,053,800 6,800,000,000 40,630
3Q 6,625 5,925 6,450 5,031,500 6,800,000,000 43,860
4Q 7,050 5,950 7,050 5,713,100 6,800,000,000 47,940
Note:*) In 4Q2009, the Company bought back its shares amounting to 24,523,500 shares and sold the buyback shares in 2Q2012
60 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
VOLUME AND PRICE OF JASA MARGA SHARES (JSMR) IN 2013 AND 2014
JSMR RETURN VS. JAKARTA COMPOSITE INDEX (JCI) 2007-2014
-50
Year
20082007 2009 2010 2011 2012 2013 2014
0
50
100
150
200
250
300
350
Jasa Marga JCI
(Source: Bloomberg)
Since it was first listed at Jakarta Stock Exchange on 12 November 2007 until 31 December 2014, JSMR
has given 334.14% return. As of 31 December 2014, JSMR was also included in several indices both local
and international.
LQ45 IndexIDX30 Index
SMinfra18 Index
KOMPAS100 SRI-KEHATI (Indonesian Biodiversity)
Index
Investor33 Index
MSCI Global Standard Indices
Indeks ASEAN Exchanges
FTSE Global Equity Index
percentage
4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
61PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Bonds Highlights
Jasa Marga Outstanding Bonds 2013
Bond ** CodePar Value
(Rp Million)Coupon
(%) year of Maturity Rating
1. JORR II (A) * - 77,377 15.25 2016 -2. JORR II (B) * - 77,377 15.25 2018 -3. JORR II (C) * - 104,400 15.50 2021 -4. Jasa Marga XII (Q) JMPD12Q 1,000,000 13.50 2016 idAA5. Jasa Marga XIII (R) JMPD13R 1,500,000 10.25 2017 idAA6. Jasa Marga XIV (JM-10) JMPD14JM10 1,000,000 9.35 2020 idAA7. Jasa Marga Continuous Bond
I Phase I Year 2013 Series S-Tranche A
JSMR01ACN1S 700,000 8.40 2014 idAA
8. Jasa Marga Continuous Bond I Stage I Year 2013 Series S-Tranche B
JSMR01BCN1S 400,000 8.70 2016 idAA
9. Jasa Marga Continuous Bond I Stage I Year 2013 Series S-Tranche C
JSMR01CCN1S 1,000,000 8.90 2018 idAA
Jasa Marga Outstanding Bonds 2014
Bond ** CodePar Value
(Rp MillionCoupon
(%) year of Maturity Rating
1. JORR II (A) * - 77,377 15.25 2016 -2. JORR II (B) * - 77,377 15.25 2018 -3. JORR II (C) * - 104,400 15.50 2021 -4. Jasa Marga XII (Q) JMPD12Q 1,000,000 13.50 2016 idAA5. Jasa Marga XIII (R) JMPD13R 1,500,000 10.25 2017 idAA6. Jasa Marga XIV (JM-10) JMPD14JM10 1,000,000 9.35 2020 idAA7. Jasa Marga Continuous Bond
I Phase I Year 2013 Series S-Tranche A
JSMR01ACN1S 700,000 8.40 2014 idAA
8. Jasa Marga Continuous Bond I Stage I Year 2013 Series S-Tranche B
JSMR01BCN1S 400,000 8.70 2016 idAA
9. Jasa Marga Continuous Bond I Stage I Year 2013 Series S-Tranche C
JSMR01CCN1S 1,000,000 8.90 2018 idAA
10. Jasa Marga Continuous Bond I Stage II Year 2014 Series T
JSMR01CN2T 1,000,000 9.85 2019 idAA
Notes: * Not Listed ** All Jasa Marga Bonds are listed at Indonesia Stock Exchange
Based on the letters No. 884/PEF-Dir/VI/2014, No. 885/PEF-Dir/VI/2014 and No. 886/PEF-Dir/VI/2014 from Pefindo to the Company dated 04 June 2014, Jasa Marga’s bonds are rated idAA (Double A).
Rating Definition
idAA represents obligor’s very strong capacity to fulfill its long-term financial liabilities relative to other Indonesian obligors.
62 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Chronology of Jasa Marga Shares Listing and Bonds Issuance
Chronology of Jasa Marga Shares Listing
Date Corporate Action
Composition of Ownership
Government of the Republic of Indonesia Public Buyback Shares
Series A Shares Series B Shares % Series B Shares % Series B
Shares %
Status Before IPO 1 4,759,999,999 100 - - - -12 November 2007 IPO at Jakarta
Stock Exchange1 4,759,999,999 70 2,040,000,000 30 - -
13 October 2008 - 12 January 2009
Buyback Shares 1 4,759,999,999 70 2,015,476,500 29.6 24,523,500 0.4
05 April 2012 - 25 June 2012
Sell Buyback Shares
1 4,759,999,999 70 2,040,000,000 30 (24,523,500) -
Status as of 31 December 2014 1 4,759,999,999 70 2,040,000,000 30 - -
Chronology of Jasa Marga Bonds Issuance
Bond **Par Value
(Rp Million)Tenor(year)
Date of Issuance(dd-mm-
yyyy)
Date of Maturity(dd-mm-
yyyy)
Rating Status as of 31 Dec 2014
Jasa Marga I (A) 23,718 5 11-03-1983 11-03-1988 Paid
Jasa Marga II/1 (B) 40,000 5 31-10-1983 31-10-1988 Paid
Jasa Marga II/2 (C) 20,000 5 06-02-1984 06-02-1989 Paid
Jasa Marga II/2 (D) 20,000 5 05-03-1984 05-03-1989 Paid
Jasa Marga II/2 (E) 20,000 5 31-03-1984 31-03-1989 Paid
Jasa Marga III/1 (F/1) 40,000 5 28-12-1984 28-12-1989 Paid
Jasa Marga III/2 (F/2) 30,000 5 01-03-1985 01-03-1990 Paid
Jasa Marga IV/1 (G/1) 40,000 5 27-12-1985 27-12-1990 Paid
Jasa Marga IV/2 (G/2) 60,000 5 24-03-1986 24-03-1991 Paid
Jasa Marga V/1 (H) 60,000 5 06-07-1987 06-07-1992 Paid
Jasa Marga V/2 (I) 40,000 5 19-11-1987 19-11-1992 Paid
Jasa Marga VI/1 (J) 75,000 8 20-6-1988 20-06-1996 Paid
Jasa Marga VI/2 (K) 50,000 8 01-02-1989 01-02-1997 Paid
Revenue Indexed Bond Phase I 40,000 12 31-07-1989 31-07-2001 Paid
Revenue Indexed Bond Phase II 30,000 12 21-09-1989 21-09-2001 Paid
Jasa Marga VII (L) 100,000 8 08-06-1990 08-06-1998 Paid
Jasa Marga VIII (M) 150,000 8 27-03-2000 27-03-2008 Paid
Jasa Marga IX (N) 400,000 5 12-04-2002 12-04-2007 Paid
Jasa Marga X (O) 650,000 8 04-12-2002 04-12-2010 Paid
Jasa Marga XI (P) 1,000,000 10 10-10-2003 10-10-2013 idAA Paid
Jasa Marga I (JM-10) 500,000 3 10-12-2010 10-12-2013 idAA Paid
JORR I *) 274,260 10 19-11-2003 19-11-2013 - Paid
63PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Bond **Par Value
(Rp Million)Tenor(year)
Date of Issuance(dd-mm-
yyyy)
Date of Maturity(dd-mm-
yyyy)
Rating Status as of 31 Dec 2014
JORR II (A) *) 77,377 10 05-01-2006 05-01-2016 - Outstanding
JORR II (B) *) 77,377 12 05-01-2006 05-01-2018 - Outstanding
JORR II (C) *) 104,400 15 05-01-2006 05-01-2021 - Outstanding
Jasa Marga XII (Q) 1,000,000 10 06-07-2006 06-07-2016 idAA Outstanding
Jasa Marga XIII (R) 1,500,000 10 06-21-2007 06-21-2017 idAA Outstanding
Jasa Marga XIV (JM-10) 1,000,000 10 10-12-2010 10-12-2020 idAA Outstanding
Jasa Marga Continuous Bond I Phase I Year 2013 Series S-Tranche A
700,000 370 days
27-09-2013 02-10-2014 idAA Paid
Jasa Marga Continuous Bond I Phase I Year 2013 Series S-Tranche B
400,000 3 27-09-2013 27-09-2016 idAA Outstanding
Jasa Marga Continuous Bond I Phase I Year 2013 Series S-Tranche C
1,000,000 5 27-09-2013 27-09-2018 idAA Outstanding
Jasa Marga Continuous Bond I Phase II Year 2014 Series T
1,000,000 5 22-09-2014 19-09-2019 idAA Outstanding
Notes: * Not Listed** All Jasa Marga bonds are listed at Indonesia Stock Exchange
Composition of JSMR Shares Ownership
Composition of JSMR Shares Ownership as of 31 December 2014
Foreign Investors
19.09%
Government of the Republic of Indonesia
70.00%
Mutual Fund
4.38%Domestic Individual/Retail
5.47%Domestic Individual/Retail
1.06%
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Composition of JSMR Shares Ownership as of 31 December 2014
Description Number of Shareholders Number of Shares Composition (%)
Government of Indonesia 1 4,760,000,000 70.00
Public 6,069 2,040,000,000 30.00
Domestic Investors
Individual/Retail 5,028 72,087,196 1.06
Institution 64 112,504,575 1.65
Insurance 45 157,549,400 2.32
Foundation 119 102,114,200 1.50
Cooperative 5 138,481 0.00
Mutual Fund 171 297,755,903 4.38
Foreign Investors
Individual/Retail 33 1,094,000 0.02
Institution 604 1,296,756,245 19.07
Total 6,070 6,800,000,000 100.00
JSMR Shares Ownership of Minimum 5% as of 31 December 2014
Name Status of Owner Number of Shares Percentage (%)
Government of the Republic of Indonesia
Government of the Republic of Indonesia 4,760,000,000 70.00
JSMR Shares Ownership of Less than 5% as of 31 December 2014
Name Number of Shareholders Number of Shares Percentage (%)
Domestic Investors 5,432 742,149,755 10.91
Foreign Investors 637 1,297,850,245 19.09
TOTAL 6,069 2,040,000,000 30.00
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INFORMATION ON MAJOR SHAREHOLDERAs at 31 December 2014, as the Major Shareholder, the Government of the Republic of Indonesia holds one
Series A Dwiwarna share and 4,760,000,000 Series B Ordinary Shares. As shareholder of Series A Dwiwarna,
the Government of the Republic of Indonesia has privileges of increasing or decreasing authorized capital and
amending the Company’s Articles of Association, appointing and dismissing members of the Directors and
Board of Commissioners, merging, fusing, taking over as well as dissolution and liquidation of the Company.
Shares Ownership of Board of Commissioners, Directors and Employees
as of 31 December 2014
Name Position Number of Shares
Percentage (%)
Agoes Widjanarko Chairman 80,000 0.001Ibnu Purna Commissioner 10,500 0.000
Akhmad Syakhroza Commissioner Nil 0
Boediarso Teguh Widodo Commissioner Nil 0
Mayjen. (Purn). Samsoedin Independent Commissioner Nil 0
Irjen Polisi (Purn.) Michael Dendron Primanto Independent Commissioner Nil 0Adityawarman President Director 134,500 0.002Hasanudin Operation Director 8,500 0.000Abdul Hadi Hs. Business Development Director 260,500 0.004Reynaldi Hermansjah Finance Director 200,000 0.003Muh Najib Fauzan Human Capital and General Affairs Director 107,500 0.002Total Shares Ownership of Board of Commissioners and Directors 801,500 0.012Shares Ownership of Employees 12,537,761 0.184Total Shares Ownership of Board of Commissioners, Directors and Employees 13,339,261 0.196
No. Name Number of Shares
Percentage (%)
1. GOVERNMENT OF THE REPUBLIC OF INDONESIA 4,760,000,000 70.0002. BNYM SA/NV AS CUST OF EMPLOYEES PROVIDENT FUND-2039844119 131,807,100 1.9383. JPMORGAN CHASE BANK NA RE NON-TREATY CLIENTS - 2157804006 93,131,855 1.3704. PT AIA FINL - UL EQUITY 70,161,400 1.0325. BPJS KETENAGAKERJAAN-JHT 65,035,200 0.9566. BBH BOSTON S/A VANGRD EMG MKTS STK INFD 38,363,500 0.5647. JPMCB-JPMORGAN FUNDS -2157804185 36,292,800 0.5348. REKSA DANA BNP PARIBAS INFRASTRUKTUR PLUS 32,629,900 0.4809. JPMCB - NORGES BANK - 2157804128 29,561,300 0.43510. JPMCB-FIDELITY INVESTMENT TRUST:FIDELITYEMERGING MARKETS
FUND -2157804068 26,075,800 0.383
11. SMARTLINK RUPIAH EQUITY FUND 23,819,700 0.35012. GIC S/A GOVERNMENT OF SINGAPORE 22,326,812 0.32813. RD BNP PARIBAS EKUITAS - 897634000 22,201,900 0.32614. SSB 0BQM S/A ISHARES MSCI EMG MARKETS MIN VOL ETF-2144612119 19,815,600 0.29115. ASURANSI JIWA MANULIFE INDONESIA, PT-49454000 17,566,300 0.25816. BPJS KETENAGAKERJAAN - JKK 17,272,700 0.25417. REKSA DANA SCHRODER DANA PRESTASI DINAMIS 16,860,500 0.24818. SSB OBIH S/A ISHARES MSCI EMERGING MARKETS ETF-2144609616 15,588,100 0.22919. SSB 1BA9 ACF MSCI EQUITY INDEX FUND B-INDONESIA - 2144609619 15,483,400 0.22820. DANA PENSIUN TELKOM 14,716,000 0.216
TOTAL 5,468,709,867 80.422
Twenty Largest Jasa Marga Shareholders as of 31 December 2013
66 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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JORR II BOND (A)
No. Name Number of Securities Percentage (%)
1 PT Bank Panin Tbk 64.26 83.042 PT Bank Bukopin 4.45 5.763 Bank DKI 3.32 4.294 PT Bank Panin Tbk 3.16 4.085 Arjuna Finance 0.43 0.566 Depkeu RI cq. DJKN cq. Ditjen
Kekayaan Negara Lain20.27 0.34
7 Depkeu RI cq. DJKN cq. Ditjen Kekayaan Negara Lain3
0.20 0.26
8 PT Bank Windu Kentjana 0.20 0.269 PT Bank Mega Tbk 0.19 0.2410 PT Bank Mega Tbk 0.19 0.24
JORR II BOND (B)
No. Name Number of Securities Percentage (%)
1 PT Bank Panin Tbk 64.26 83.042 PT Bank Bukopin 4.45 5.763 Bank DKI 3.32 4.294 PT Bank Panin Tbk 3.16 4.085 Arjuna Finance 0.43 0.566 Depkeu RI cq. DJKN cq. Ditjen Kekayaan
Negara Lain20.27 0.34
7 Depkeu RI cq. DJKN cq. Ditjen Kekayaan Negara Lain3
0.20 0.26
8 PT Bank Windu Kentjana 0.20 0.269 PT Bank Mega Tbk 0.19 0.2410 PT Bank Mega Tbk 0.19 0.24
JORR II BOND (C)
No. Name Number of Securities Percentage (%)
1 PT Bank Panin Tbk 85.68 82.07
2 PT Bank Bukopin 5.94 5.69
3 Bank DKI 4.43 4.24
4 PT Bank Panin Tbk 4.21 4.03
5 Bpk. Wiantono 1.23 1.18
6 Arjuna Finance 0.58 0.55
7 Depkeu RI cq. DJKN cq. Ditjen Kekayaan Negara Lain2
0.35 0.34
8 Depkeu RI cq. DJKN cq. Ditjen Kekayaan Negara Lain2
0.27 0.26
9 PT Bank Windu Kentjana 0.27 0.26
10 PT Bank Mega Tbk 0.25 0.24
JASA MARGA BOND XII (Q)
No. Name Number of Securities Percentage (%)
1 BPJS Ketenagakerjaan JHT (dh PT Jamsostek)
207.00 20.70
2 PT Taspen (Persero) – THT 150.00 15.00
3 BCA- TREASURY DEPT 100.00 10.004 DANA PENSIUN PERTAMINA 100.00 10.005 DP BNI 51.00 5.10
6 Dana Pensiun PLN 50.00 5.007 DP. Telkom 50.00 5.00
8 REKSA DANA DANAREKSA INVESTA FLEKSI VI
42.00 4.20
9 DANA PENSIUN BRI 30.00 3.00
10 Dana Pensiun Garuda Indonesia 19.00 1.90
JASA MARGA BOND XIII (R)
No. Name Number of Securities Percentage (%)
1 PT Taspen (Persero) - THT 323.00 21.532 BCA- TREASURY DEPT 231.00 15.403 PT. BANK RAKYAT INDONESIA
(PERSERO)-DIVISI TREASURY104.00 6.93
4 BPJS Ketenagakerjaan JHT (dh PT Jamsostek)
74.00 4.93
5 REKSA DANA BAHANA MAXIMA DINAMIS 2
66.00 4.40
6 DANA PENSIUN BRI 60.00 4.007 BPJS KESEHATAN - DANA JAMINAN
SOSIAL50.00 3.33
8 DANA PENSIUN PERTAMINA 35.00 2.339 BPJS KETENAGAKERJAAN - (TRD-JHT) 30.00 2.0010 AAA OPTIMAL INCOME FUND 30.00 2.00
JASA MARGA XIV BOND (JM-10)
No. Name Number of Securities Percentage (%)
1 BPJS Ketenagakerjaan JHT (dh PT Jamsostek)
230.00 23.00
2 BPJS KESEHATAN 100.00 10.003 BCA- TREASURY DEPT 90.00 9.004 PT. JASA RAHARJA (PERSERO) 80.00 8.005 PT AJ BRINGIN JIWA SEJAHTERA 59.00 5.906 PT ASURANSI ASTRA BUANA 35.00 3.507 REKSADANA OPTIMA
PENDAPATAN ABADI30.00 3.00
8 RDPT TRIM Performa Dinamis Terbatas 29.90 2.999 BNI TREASURY 25.00 2.5010 REKSA DANA MANDIRI INVESTA
INVESTA DANA PENDAPATAN OPTIMAL
25.00 2.50
JASA MARGA CONTINUOUS BOND IPHASE I yEAR 2013 SERIES S-TRANCHE B
No. Name Number of Securities Percentage (%)
1 BATAVIA PROTEKSI ANDALAN 11 72.00 18.002 PT Bank CIMB Niaga Tbk, 40.00 10.003 BDI Treasury ALM Family 30.00 7.504 DP. Jasa marga 30.00 7.505 PT AIA FINANCIAL 26.00 6.506 DPLK Bank BNI 25.00 6.257 PT. Bank Internasional Indonesia 20.00 5.008 PT BANK RIAU KEPRI 20.00 5.009 PT Bank CIMB Niaga Tbk, 20.00 5.0010 YAYASAN KESEJAHTERAAN PEGAWAI
PT BRI 20.00 5.00
JASA MARGA CONTINUOUS BOND IPHASE I yEAR 2013 SERIES S-TRANCHE C
No. Name Number of Securities Percentage (%)
1 MANDIRI SEKURITAS, PT. 170.00 17.002 PT Bank CIMB Niaga Tbk. 105.00 10.503 DPLK Bank BNI 70.00 7.004 BPJS KETENAGAKERJAAN - JKK 50.20 5.025 PT. Bank Internasional Indonesia 50.00 5.006 PT. JASA RAHARJA (PERSERO) 50.00 5.007 BPJS KETENAGAKERJAAN - BPJS 36.23 3.628 Dana Pensiun Perkebunan 35.00 3.509 DP BNI 30.00 3.0010 REKSA DANA RHB OSK SMILE FIXED
INCOME FUND 30.00 3.00
JASA MARGA CONTINUOUS BOND IPHASE II yEAR 2014 SERIES T
No. Name Number of Securities Percentage (%)
1 PT Bank Mandiri 155.00 15.502 PT Bank DBS Indonesia - GFM 130.00 13.003 BPJS Ketenagakerjaan JHT (dh PT
Jamsostek)100.00 10.00
4 Dana Pensiun PLN 75.00 7.505 DPLK Bank BNI 70.00 7.006 PT. JASA RAHARJA (PERSERO) 50.00 5.007 REKSA DANA TERPROTEKSI BNI-AM
PROTEKSI XXXIX50.00 5.00
8 AVRIST - LIFE 45.00 4.509 DPLK BANK RAKYAT INDONESIA 25.00 2.5010 RD PREMIER OBLIGASI 23.00 2.30
Ten Largest Jasa Marga Bondholdersas of 31 December 2013
67PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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CAPITAL MARKET CONDITION AND PERFORMANCE OF JSMR SHARES IN 2014Throughout 2014, the condition of global economy and politic in Indonesia has significantly influenced the
condition of capital market in the country. In the opening of 2014, the Jakarta Composite Index was at the
level of 4,294 and with the closing position of 5,226 showed an increase by 21.70%.
The policy of the Indonesian Government to focus on infrastructure development has also given significant
influence to the performance of JSMR shares given that JSMR is included in the field of infrastructure. At
the opening in the beginning of 2014, JSMR was at the level of 4,750 and at the closing at the end of 2014 it
increased by 49.21% to a level of 7,050.
JSMR Share Price Movement vs. JCI 2014
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014
4,000.00
4.,500.00
5.000.00
5,500.00
6,000.00
6,500.00
7,000.00
5,226.95
7,050.00
Year
JSMR 7,050.00 JCI 5,226.95
Rp
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Significant Events in 2014
2013 Annual GMSJasa Marga convened Annual
General Meeting of Shareholders
(GMS) financial year 2013 taking
place at The Dharmawangsa
Jakarta.
11 MARCH 2014
Jasa Marga Goes to CampusTo show its awareness of
educational aspect, especially
in educating college students,
the Company conducted
socialization on safety driving
on toll roads. The activity took
place at Bandung Institute of
Technology (ITB), Bina Nusantara
University (Binus), University
of Indonesia (UI), International
Siswa Bangsa University (USBI)
and Trisakti University, presenting
the Directors of the Company
as speakers. The said subject
needs to be delivered so that
college students have better
understanding of the things they
need to know when driving their
vehicle on toll road, and that they
as well as others are safe.
19-26 MARCH 2014
Minister of Public works Inaugurated Ungaran-Bawen Toll Road The Minister of Public Works
Djoko Kirmanto inaugurated the
operation of 12.30 km Section 2
Ungaran-Bawen, which is part
of the 72.64 km Semarang-Solo
Toll Road. Semarang-Solo Toll
Road will contribute to area
development and increase
economic growth in the area
of Central Java Province and
support the growth of this area.
04 APRIL 2014
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The Operation of BORR Section 2A (Kedung Halang-Kedung Badak) The Minister of Public Works
Djoko Kirmanto inaugurated
Bogor Outer Ring Road (BORR)
Toll Road Section 2A Kedung
Halang-Kedung Badak (1.95
km), in line with the master
plan of Metropolitan Priority
Area (MPA) of Greater Jakarta
(Jabodetabek) areas. The Toll
Road Section is part of the Bogor
Outer Ring Road Toll Road and
is the continuation of its Section
1 operated since 23 November
2009.
30 MAy 2014
JORR w2 North Kebon Jeruk-Ulujami Fully OperatedThe Minister of Public Works
Djoko Kirmanto inaugurated
the operation of 2 km Section
Ciledug-Ulujami of JORR W2
North Toll Road. The operation
of the Section marks the full
operation of 7.70 km JORR
W2 North Toll Road and the
integration of JORR Toll Road.
The operation of this Toll Road is
expected to ease congestion.
22 JULy 2014
The Signing of Joint working Agreement 2014-2016Taking place at Jasa Marga
Development Center, Jasa Marga
and Jasa Marga Labor Union
signed Joint Working Agreement
(Perjanjian Kerja Bersama – PKB)
2014-2016. The signing ceremony
was attended by President
Director Adityawarman, Finance
Director Reynaldi Hermansjah,
Human Capital and General
Affairs Director Muh Najib Fauzan;
and was witnessed by Director
General Industrial Relations
Guidance & Workers Social
Security R. Irianto Simbolon.
23 JULy 2014
70 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Report
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Identity of the Company
Significant Events 2014
Mudik Gratis Bareng Jasa MargaAs the realization of its social
responsibility, Jasa Marga held
a free “mudik” program called
“Mudik Gratis Bareng Jasa Marga”
in 2014/1435 H to assist workers
supporting the Company’s
activities to go back to their
hometown – known as “mudik” –
to celebrate the Idul Fitri 1435 H
holiday in their hometown at the
Company’s expenses.
24 JULy 2014
The Signing of Suramadu Toll Bridge Concession AgreementJasa Marga President Director
Adityawarman, together with
Head of the Indonesian Toll Road
Authority (Badan Pengatur
Jalan Tol – BPJT) Ahmad Ghani
Ghazali signed the Concession
Agreement (Perjanjian
Pengusahaan Jalan Tol – PPJT)
of Surabaya-Madura (Suramadu)
Toll Bridge. The agreement
signing took place at the Meeting
Room of BPJT office.
20 AUGUST 2014
Jasa Marga Issued Rp 1 Trillion BondThe Company issued bond
worth Rp 1 trillion in September
2014. The bond issuance is the
continuation of Continuous
Public Offering (Penawaran
Umum Berkelanjutan – PUB) with
total emission of Rp 5.9 trillion.
The Rp 1 trillion bond has a five
(5)-year maturity period with a
coupon of 9.85% per annum. As
much as Rp 700 billion from the
bond issuance will be used for
refinancing PUB stage I whereas
the remaining Rp 300 billion will
be used for the payment of bank
loan maturing in 2014.
22 SEPTEMBER 2014
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Groundbreaking of Medan-Kualanamu-Tebing Tinggi Toll RoadThe groundbreaking of Medan-
Kualanamu-Tebing Tinggi Toll
Road was performed by Minister
of Public Works Djoko Kirmanto,
accompanied by Governor
of North Sumatera, Director
General Bina Marga, Head of
BPJT, Deli Serdang Regent and
Jasa Marga President Director
at Deli Serdang Regency, North
Sumatera. The winner of tender
of the 61.7 km toll road was the
Consortium of PT Jasa Marga
(Persero) Tbk., PT Pembangunan
Perumahan (Persero) Tbk.,
PT Waskita Karya (Persero) Tbk.,
and PT Hutama Karya (Persero).
23 SEPTEMBER 2014
Jasa Marga Supports the Launching of KPK’s Gratification Application “GRATis”To support the prevention
and repression of corruption
crimes, Jasa Marga President
Director Adityawarman attended
the Launching of Corruption
Eradication Commission (Komisi
Pemberantasan Korupsi – KPK)’s
“GRATis” Application and
Recharging the Gratification
Restraints Unit in Jakarta. The
benefit of the application for
state apparatus and Civil Servants
(Pegawai Negeri Sipil – PNS) is
to prevent gratification, whereas
for the society is to educate
people to not make any attempts
of gratification or asking for it
directly.
01 OCTOBER 2014
Toll Tariff Adjustment of Prof. Dr. Sedyatmo Toll Road In accordance with the Decision
of the Minister of Public Works
No. 552/KPTS/M/2014 dated 11
September 2014 on Toll Tariff
Adjustment on Prof. Dr. Ir.
Sedyatmo Toll Road Section, as of
19 September 2014, at 00:00 or
7 days after the Minister Decision
was issued, Prof. Dr. Sedyatmo
(Airport) Toll Road operates with
new tariff with an increase by
13.76% based on inflation.
19 SEPTEMBER 2014
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Jasa Marga and Chinese Consortium Studied the Possibility if Cooperating in Building Toll RoadTaking place at the office of
Ministry of SOEs, Jasa Marga
President Director Adityawarman
signed Memorandum of
Understanding (MoU) between
Jasa Marga and the Consortium
of China Sonangol International
Ltd. and China Railway Group
Limited in the cooperation of toll
road development. Jasa Marga
and the Consortium will study
possible cooperation consisting
of the planning, funding,
construction, operation and
maintenance of potential toll road
in Indonesia. The cooperation is
conducted in the form of Public
Private Partnership (PPP).
03 NOVEMBER 2014
Toll Tariff Adjustment of Jakarta-Cikampek Toll RoadBased on the Decision of the
Minister of Public Works No. 539/
KPTS/M/2014 dated 08 October
2014 on Toll Tariff Adjustment
of Jakarta-Cikampek Toll Road,
as of 16 October 2014, Jakarta-
Cikampek Toll Road operates
with new tariff with an increase
by 12.95% based on inflation.
16 OCTOBER 2014
Jasa Marga is First Rank in Annual Report Award 2013Jasa Marga succeeded in
achieving the First Rank in
Annual Report Award (ARA) 2013
for the category of Listed Non-
Financial SOEs. ARA is organized
in cooperation of 7 institutions,
i.e. Financial Services Authority
(Otoritas Jasa Keuangan – OJK),
Ministry of SOEs, Directorate
General of Tax, Komite Nasional
Kebijakan Governance (The
National Committee on
Governance), the Indonesia
Stock Exchange, Ikatan Akuntan
Indonesia (The Indonesian
Institute of Accountants) and
Bank Indonesia (Indonesia
central bank).
16 OCTOBER 2014
Significant Events 2014
73PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Operation of Electronic Payment on Toll Roads Applying Closed System Jasa Marga, Bank Mandiri and PT
Trans Lingkar Kita Jaya (TLKJ)
operate electronic payment on toll
roads with closed system (Jakarta-
Cikampek, Purbaleunyi, Jagorawi
and Cinere-Jagorawi).
Good Corporate Governance AwardJasa Marga was awarded Most
Trusted Company Based on
Corporate Governance Perception
Index (CGPI) at the Indonesia
Good Corporate Governance
Award 2014. The event was
held by SWA Magazine and The
Indonesian Institute for Corporate
Governance (IICG).
12 DECEMBER 2014 17 DECEMBER 2014
The Signing of Deed of Establishment of PT Jasamarga Kualanamu TolJasa Marga President Director
Adityawarman signed Joint
Venture Agreement and the Deed
of Establishment of
PT Jasamarga Kualanamu Tol
at the Directors’ Meeting Room
of Jasa Marga Head Office. The
parties involved in the signing
were Jasa Marga, PT Waskita
Karya, PT Pembangunan
Perumahan, and PT Hutama
Karya. PT Jasamarga Kualanamu
Tol is the concession holder of
Medan-Kualanamu-Tebing Tinggi
Toll Road.
10 NOVEMBER 2014
74 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
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Management Report
Transformation of Jasa Marga
Identity of the Company
Awards and Certifications
Contact Center Excellence Service Award (CCSEA) 2014 Predicate: Excellent in Service PerformanceCategory: Public Services
Carre Center for Customer Satisfaction and Loyalty (Carre CCSL) dan Majalah Service Excellence
3 APRIL 2014
Corporate Image Award 2014 The Best Building and Managing Corporate ImageKategori: Toll Road Infrastructure
Tempo Magazine
3 JUNE 2014
Service Quality Award 2014 Predikat GoldenKategori: Toll Road
Service Excellence Magazine
5 JUNE 2014
Indonesia Green Awards 2014Category:• Developing and using
new and renewable energy (by using Light Emitting Diode (LED) for public street lighting, Green Building and using low octane fuel)
• pioneering pollution prevention (toll road forestation program to absorb CO2 emission from vehicles on toll roads)
La Tofi School of CSR
18 JUNE 2014
75PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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BUMN Internal Media Awards 2014 (BIMA)Kategori: Best Cover dan Content
BUMN Track Magazine
18 JUNE 2014
Bisnis Indonesia Award 2014Category: Best Public Company in the Sector of Infrastructure, Utility and Transportation
Bisnis Indonesia Daily
24 JUNE 2014
The 1st Rank of SwA 100Indonesia Best Public Companies 2014Category: Transportation
SWA Magazine
25 JUNE 2014
Social Business Innovation Award 2014Best Sustainable Business Innovation Company in Toll Road Green DevelopmentCategory: State-Owned Infrastructure Company
Warta Ekonomi Magazine
26 JUNE 2014
76 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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BUMN Marketing Award 2014 Silver winnerCategory:• Tactical Marketing• Strategic Marketing
BUMN Track Magazine
21 AUGUST 2014
Annual Report Award (ARA) 2013First Rank in the Category of Listed Non-Financial SOE
OJK, Ministry of SOEs, Directorate General of Tax, Komite Nasional Kebijakan Governance (The National Committee on Governance), Indonesia Stock Exchange, Ikatan Akuntan Indonesia (The Indonesian Institute of Accountants) and Bank Indonesia (Indonesia central bank)
16 OCTOBER 2014
BUMN web Award 2014Category: Best User Engagement
beritasatu.com
15 OCTOBER 2014
Persatuan Insinyur Indonesia (PII) Award 2014 Perolehan EmasKategori: Adhikara Rekayasa
Persatuan Insinyur Indonesia (PII)
26 NOVEMBER 2014
Business Excellence Award 2014Category: Toll Road (Surabaya-GempolBranch)
Marketing Magazine
20 NOVEMBER 2014
Awards and Certifications
77PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Business Excellence Award 2014Category: Toll Road (Surabaya-Gempol Branch)
Marketing Magazine
26 NOVEMBER 2014
HR Excellence Award 2014Predikate GoodCategory:• HR Transformation• Reward Management
SWAnetwork andLMFE UI
01 DESEMBER 2014
Indonesia Human Capital Study (IHCS) Award 2014Category: The Best for Human Capital Initiatives
Dunamis
27 NOVEMBER 2014
The Best Non Financial Sector Award
The Indonesian Institute for Corporate Directorship (IICD)
9 DECEMBER 2014
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Anugerah Business Review Award 2014Category:• The Best GCG
Implementation of The year Peringkat 1
• The Best Corporation For Risk Management of The year Peringkat 2
• The Best Corporate Communication of The year Peringkat 2
• The Best Corporation for Learning Organization of The year Peringkat 2
• The Best Operation Management of The year Peringkat 5
Business Review
9 DECEMBER 2014
Best of the Best the Top 50 Companies for 2014 AwardThe 4th Best of the Best 2014
Forbes Magazine
10 DECEMBER 2014
Sustainable and Responsible Investment Index (SRI) KEHATI Appreciation 2014
Yayasan Keanekaragaman Hayati (KEHATI – Indonesian Biodiversity Foundation)
11 DECEMBER 2014
Corporate Governance Perception Index (CGPI) Tahun Penilaian 2013The Most Trusted Company
The Indonesian Institute for Corporate Governance
17 DECEMBER 2014
Awards and Certifications
79PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Tata Kelola Perusahaan
Pengelolaan Human Capital
Tanggung Jawab Sosial Perusahaan
Tanggung Jawab Manajemen Atas Laporan Tahunan 2013
Daftar Istilah Laporan Keuangan Konsolidasian
79PT Jasa Marga (Persero) Tbk. Laporan Tahunan 2014
Certifications of Toll Road Operational QualityAll Jasa Marga Branch Offices have received certifications of toll road operational quality. ISO 9001:2008 is
an international standard for quality management system. The benefits of ISO 9001:2008 implementation
among others are as follows:
• Enhance customers trust
• Guarantee process and product quality
• Increase company’s productivity and market gain
• Increase motivation, moral and employees performance
• Serve as analyzing tools of company’s competitor
• Improve mutually beneficial relationship with suppliers
• Enhance cost efficiency and product safety
• Improve internal communication
• Improve company’s positive image
• Provide a well-documented system
• Serve as a media for training and education
Certifications of Operational Quality of Jasa Marga Toll Roads
No. Branch
ISO 9001:2008 CertificationCertified Since(dd-mm-yyyy)
Validity Period(dd-mm-yyyy)
1. Jagorawi 10-01-2000 23-08-2014 to 23-08-20172. Surabaya-Gempol 19-04-2001 19-04-2013 to 19-04-20163. Palikanci 21-07-2004 21-07-2013 to 21-07-20164. Belmera 12-10-2004 12-10-2013 to 12-10-20165. Jakarta-Tangerang 26-06-2013 26-06-2013 to 26-06-20166. Semarang 06-01-2005 06-01-2014 to 06-01-20177. Jakarta-Cikampek 04-02-2005 04-02-2014 to 04-02-20178. Cawang-Tomang-Cengkareng 15-02-2005 15-02-2014 to 15-02-20179. Purbaleunyi 22-12-2004 22-12-2013 to 22-12-2016
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DEAR SHAREHOLDERS,
As the year 2014 has ended, we express our
gratitude and praise God Almighty for all His
blessings and kindness allowing the Board of
Commissioners to be able to carry out their
tasks and duties well throughout 2014. To show
transparency and responsibility, we would like to
take this opportunity to report the main issues in
the carrying out of tasks and duties of the Board
of Commissioners in supervising and giving advice
to the Directors concerning the management of
the Company.
The Company commenced the year 2014 by
convening Annual General Meeting of Shareholders
(GMS). The Annual GMS was held on the decided
date, i.e. 11 March 2014 and the convening of the said
GMS was in accordance with prevailing rules and
regulations. The Annual GMS has resulted resolutions
that serve as the basis for the Company to perform
even better throughout 2014. Apart from presenting
routine agenda such as approval/ratification of the
Company’s Financial Statements; Report on Board
of Commissioners Supervisory Task, the Company’s
Consolidated Financial Statements and Annual
Report of PKBL Program; including the approval
and decision of the use of net profit fiscal year 2013
for payment of dividend, tantieme, appropriated
reserves and general reserves; along with the
decision of Public Accounting Firm; the GMS also
decided the change in a member of the Board of
Commissioner, Joyo Winoto, with new member
Boediarso Teguh Widodo.
Also, the GMS approved the change in the
Company’s Directors nomenclature and the
composition of its members of Directors. The new
distribution of tasks, authorities and description of
tasks of the Directors has been ratified and decided
with the issuance of the Decision Letter of the
Directors. With the abovementioned changes, we are
Board of Commissioners Report
The Board of Commissioners makes the efforts so that the values and principles of GCG gradually become part of the corporate culture in providing services to the stakeholders, both the shareholders and the people as toll road users
83PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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agoes WidjanarkoChairman
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optimistic that the Company’s performance will keep
improving and the management of the Company will
be more effective and efficient.
Composition of the Board of CommissionersThe number of members of Board of Commissioners
of the Company remains the same: one (1) member
of the Board of Commissioners as Chairman,
three (3) members as Commissioners, and two (2)
members as Independent Commissioners. Based on
the Resolutions of the Annual GMS, the composition
of the Company’s Board of Commissioners changed
with the appointment of new member of the Board
of Commissioners Boediarso Teguh Widodo who
has appropriate experience and competencies
to continue the field of tasks of the previous
member Joyo Winoto. The distribution of tasks
and description of tasks for each Commissioner
member is regulated in Decision Letter of the Board
of Commissioners No. KEP-0031/II/2012 dated 20
February 2012 and was revised in relation to the
change of the member with Decision Letter of the
Board of Commissioners No. KEP-106 a/V/2014
dated 16 May 2014.
work Programs of the Board of CommissionersIn carrying out the tasks and duties, the Board
of Commissioners has prepared Board of
Commissioners’ Annual Work Programs 2014
validated in early January 2014. The said work
programs serve as initial reference for the Board
of Commissioners in carrying out their task of
supervising and giving advice to Directors in the
management of the Company. In the realization,
several adjustments were made in the activities
in accordance with the dynamic of the issues and
changes in business environment along the year
2014. With this mechanism, series of activities of
the Board of Commissioners are well organized
and structured, making sure that the tasks of
supervision and giving advice are carried out
effectively and efficiently.
One of the Board of Commissioners Work Programs
was the review of Corporate Long-Term Plan
(Rencana Jangka Panjang Perusahaan – RJPP) of
2013-2017. The review is aimed at evaluating the
validity of RJPP as guidelines in accomplishing the
targeted mid-term and long-term goals. Results
of the review and evaluation were forwarded
and discussed with the Directors, as Board of
Commissioners advice to the Directors in setting the
strategies and required measures to be carried out
in 2014 and the following years.
In addition to RJPP, review and evaluation on the
Company’s performance by quarter in 2014 has also
become Board of Commissioners routine programs.
Results of review and evaluation were used as
reference in giving suggestions to the Directors
to ensure the achievement of business target in
the fiscal year of 2014 as well as sharpening the
programs in 2015 Corporate Budget and Work
Plan (RKAP) whose validating process requires
the approval of the Board of Commissioners thirty
(30) days prior to the end of 2014 budgeting year
in December 2014. With effective supervision
and coordination, the Company’s 2015 RKAP
proposed by the Directors on 29 October 2014 was
approved by the Board of Commissioners in Board
of Commissioners-Directors Joint Meeting on 28
November 2014. The stages performed in giving the
said approval are in accordance with the provisions
stipulated in the Company’s Articles of Association.
The Work Programs of Board of Commissioners
also include scheduling the Board of Commissioners
Internal Meetings and Board of Commissioners-
Directors Joint Meetings. During the period of 2014,
29 Board of Commissioners Internal Meetings and
Board of Commissioners-Directors Joint Meetings
were held and the average level of attendance of
members of the Board of Commissioners reached
95%, much higher than that of last year with only
75%. In the meeting forum, members of the Board
of Commissioners actively give suggestions and
directors to the Directors, and together with the
Directors, discuss strategic issues concerning
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changes in business environment estimated to
have significant impact in the Company’s business
and performance, such as increasing operating
expenses following the tendency of increase in
interest rate, HR expenses, electricity and fuel
tariffs, along with toll road congestion, and toll
revenues security. The dynamic external business
environment has also become the subject of
discussion between the Directors and Board of
Commissioners, such as much tighter competition
in acquiring the concession rights of new toll roads,
the state’s financial limitation in providing the
support of viability gap funding for new toll roads
not yet meeting financial feasibility, hence becoming
another Jasa Marga’s challenge to contribute to the
success of Government program to complete Trans
Jawa and Trans Sumatera Toll Roads.
In order to enhance effective supervision, the
Board of Commissioners has also routinely
monitored the follow up of the decisions of Board
of Commissioners-Directors Joint Meeting. The
report on implementation of the meeting decisions
is presented at each Board of Commissioners
Internal Meeting to immediately identify the issues
and to make decisions to overcome the obstacles
in the field.
In addition, the Board of Commissioners has also
performed routine site visits. In 2014, the Board
of Commissioners has conducted 10 visits with
the outcome that is considered quite effective in
identifying the issues in Branches and Projects,
to which suggestions were given to the Branch
Managers and Project Managers as well as Directors.
With the mechanism of supervision described in
the above work programs, the performance of
the Board of Commissioners in performing their
tasks and duties continue to improve as seen in
the achievement of Key Performance Indicator
(KPI) and implementation of Good Corporate
Governance (GCG) principles. KPI evaluation is
based on parameters regulated in the Regulation
of Minister of SOEs No. PER-01/MBU/2011 dated
01 August 2011, which are then further translated
into Decision Letter of Secretary of Minister
of SOEs No. SK-16/S.MBU/2012 dated 06 June
2012 on Indicators/Parameters of Assessment
and Evaluation on the Implementation of
Good Corporate Governance at SOEs. In 2014,
assessment criteria also refer to parameters of
“ASEAN Corporate Governance Scorecard”.
KPI of the Board of Commissioners of 2014 consists
of seven (7) perspective and 17 performance
indicators. Result of self-assessment shows Board of
Commissioners 2014 KPI reach the score of 4.68 out
of maximum score of 5.0. This achievement indicates
an improved score compared to that of the previous
year with 4.58. Apart from KPI achievement, the
performance of the Board of Commissioners was
also seen in the aspect of governance in carrying
out the tasks and duties. In 2014, the score of GCG
implementation within the Board of Commissioners
based on assessment conducted by independent
consultant reached 96.26%.
We all should be grateful for the above
achievements, yet the notes on the shortcomings
and improvements will continuously become the
focus of the Board of Commissioners in order that
next year’s achievement will further improve. The
Board of Commissioners always emphasizes that
the Company’s performance achievements are
not limited to only financial aspect, but should
also be accompanied with positive achievements
in corporate governance that is reflected in GCG
implementation. The Board of Commissioners makes
the efforts so that the values and principles of GCG
gradually become part of the corporate culture in
providing services to the stakeholders, both the
shareholders and the people as toll road users.
Therefore, GCG implementation will serve as value
driver to the creation of the Company’s added value,
and the principles of transparency, accountability
and responsibility accompanied with the values of
professionalism, fairness, efficiency and effectiveness
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along with compliance with prevailing rules and
regulations are translated into each decision making
of the Management. The Board of Commissioners
believes that when these principles and values have
become Jasa Marga’s culture, the Company will then
grow sustainably and gain stronger competitive
advantages in both national as well as regional
scales.
Assessment on Performance of the DirectorsRespectful Shareholders, from the supervisory tasks
and function in 2014, there are several issues that
we all should note, either the accomplishments or
problems on which the Board of Commissioners to
focus for future improvement.
In the aspect of business development, land
acquisition remains the issue hampering the
completion of new toll roads. The impediment
of land acquisition has resulted in the delays of
operation of new toll roads hence delaying the
collection of revenues. Despite not having control
over land acquisition, the Board of Commissioners
continuously gives strong support to the efforts
made in speeding up land acquisition, one of which
is by enhancing effectiveness of coordination with
Land Acquisition Team (Tim Pembebasan Tanah
– TPT) and Land Acquisition Committee (Panitia
Pembebasan Tanah – P2T), while also actively
approaching the people. Particularly in this matter,
the Board of Commissioners has also requested
the Directors to report the progress of completion
of new toll roads monthly during the Board of
Commissioners-Directors Joint Meeting. Strategic
measures are thus able to be taken immediately
to support operational activities in the field to
accelerate land acquisition.
The above steps were proven to be quite effective
in supporting land acquisition and the completion of
new toll roads. In 2014, the Company has succeeded
in completing and operating 22 km new toll roads,
consisting of Semarang-Solo Toll Road, Section
Ungaran-Bawen (12.30 km); Bogor Outer Ring Road
Toll Road, Section Kedung Halang-Kedung Badak
(1.95 km); and JORR W2 North Toll Road (7.70 km).
Special note on JORR W2 North Toll Road, that the
completion of Ciledug-Ulujami Section has enabled
the full circle of Jakarta Outer Ring Road Toll Road
and this is expected to reduce congestion on
Jakarta Inner Ring Road Toll Road, thus enhancing
the flow of goods and services as well as people
in DKI Jakarta and its surrounding areas. This
represents one of Jasa Marga’s roles in supporting
the Government’s program. The achievements will
continue in 2015 as several new toll road projects
are scheduled to complete and operate: Gempol-
Pandaan Toll Road (13.61 km); Surabaya-Mojokerto
Toll Road, Section Krian-Mojokerto (18.47 km);
and Gempol-Pasuruan Toll Road, Section Gempol-
Rembang (13.9 km).
In acquiring the concession right of new toll road,
the 2014 achievement was marked positively by
acquiring the concession of Medan-Kualanamu-
Tebing Tinggi Toll Road. The Toll Road will be
strategic to the development regional economy in
North Sumatera, especially Medan-Tebing Tinggi and
the surrounding areas, in supporting the movement
of goods and people to and from Kualanamu Airport
and Belawan Port. For the Company, the success
in acquiring the concession right will support
Jasa Marga’s business penetration while further
strengthening the existing growth of Jasa Marga’s
toll roads in the area, i.e. Belawan-Medan-Tanjung
Morawa (Belmera) Toll Road.
Besides toll road, the development of other
businesses/non-toll road business also improves
over the years. This is seen in the achievement of
non-toll road revenues of 2014 reaching Rp 583
billion. In view of its strategic role in supporting
the Company’s Revenues at the time when the
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newly operated toll roads are not yet contributing
significant revenues contribution, as well as the quite
large market potential, the development of other
businesses will be further encouraged so that going
forward its revenue contribution to the Company
will continue to increase. The efforts conducted
among others include renegotiating the contracts
of agreement of Rest and Services Areas (Tempat
Istirahat dan Pelayanan – TIP) to give optimum
benefits to Jasa Marga. Other efforts include
optimizing revenues from advertisements, along with
cooperation in developing other businesses with
SOEs to optimize the values of Jasa Marga’s assets,
such as cooperation of fiber optic development.
Other businesses development is also encouraged
by giving support to non-toll road Subsidiaries,
i.e. PT Jasamarga Properti and PT Sarana Marga
Utama that was then changed into PT Jasa Layanan
Pemeliharaan. In 2014, the project of property
development starts to run and contributes revenues.
In 2015, property development will be further
intensified, especially on locations surrounding toll
road corridor, thus not only increasing revenues
but also supporting toll road operation. Particularly
on PT Jasa Layanan Pemeliharaan, the Board of
Commissioners and Directors have agreed to
advance its role in toll road maintenance to support
the fulfillment of minimum level of service (Standar
Pelayanan Minimum – SPM). In relation to this matter,
the Board of Commissioners intensively conducts
supervising and giving advice focusing on the
enhancement of HR capability and empowering the
management so that PT Jasa Layanan Pemeliharaan
is capable of carrying toll road maintenance task
well in the framework of SPM fulfillment.
In the aspect of toll road operation, the Board of
Commissioners continuously reminds and gives
recommendations to Directors to continue to
improve the services, convenience and safety
for the toll road users. The fulfillment of the
minimum level of service has always become the
Board of Commissioners priority, with the target
of achievement one level above standard set by
the Government. This is because the Board of
Commissioners considers SPM fulfillment is part
of the realization of Jasa Marga’s roles in serving
the community, especially the toll road users.
Innovations are continued to develop to improve the
services to the society and SPM fulfillment, among
others by adding more automated toll booth (Gardu
Tol Otomatis – GTO), increasing the penetration
of non-cash payment both e-Toll Card and e-Toll
Pass/On Board Unit (OBU), and improving toll road
maintenance method and system by involving the
Subsidiary PT Jasa Layanan Pemeliharaan to be
more effective and efficient while prioritizing the
aspect of quality. On the improvement of transaction
system (GTO and non-cash payment), the benefits
are not only in the making smooth transaction, but
also in improving the security of revenues.
Going forward, the efforts to improve transaction
system by means of adding more GTOs and non-
cash payment will be further improved. The Board
of Commissioners will therefore continuously
encourage the increase in the number of GTOs
gradually from 30% of the total operating booths
or 293 units at the end of 2014, to 40% and 50%
in 2015 and 2016, respectively. The increase in the
non-cash payment will be enabled by enhancing
the intensity and coverage, people’s access to
buying and topping up e-Toll Card, more aggressive
marketing, and more accessible GTO placement.
Another aspect that has become the concern of the
Board of Commissioners is the implementation of
risk management that is gradually directed towards
the integration of risk management in every business
process carried out by Jasa Marga. In view of this,
the Board of Commissioners periodically conducts
monitoring and evaluation on the implementation
of risk management. In every investment proposal,
the Board of Commissioners always emphasizes and
makes sure that risk assessment process has been
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included in the project feasibility process. Therefore,
investment decision made has carefully considered
existing risks.
In the aspect of finance, the Board of Commissioners
has noted positive performance to be appreciated.
Despite the pressure of increasing operating
expenses due to toll road business expansion
and the realization of traffic volume below target
(lower by 3.65% than the targeted 1,369.64
million vehicles), the Company was still capable
of recording net profit amounting to Rp 1,403.43
billion or approximately 16.87% higher than targeted.
The achievement represents the impacts of the
Company’s efforts in efficiency as well as those
to maintain the achievements of toll and non-toll
operating revenues.
In the framework of efficiency, following the financial
performance evaluation of the First Half of 2014, the
Board of Commissioners gave suggestions to the
Directors to sharpen various programs considered
inefficient, ineffective and even unrealistic. The
achievement on profit was also balanced with the
realization of investment budget reaching 89.39% of
the plan. Not only has this achievement resulted in
the increase in the Company’s assets at the end of
2014 to Rp 31,857.95 billion, it also ensures that the
growth of revenues in the years to come will even
more solid. The Company’s financial prospect also
keeps improving as the Company has succeeded in
lowering interest rate through refinancing program
by issuing bond worth Rp 2.1 trillion in 2013 and Rp
1.0 trillion in September 2014.
View on Business Prospect Established by the DirectorsFuture challenges faced by Jasa Marga will
dynamically grow. As one of SOEs and public
companies dealing with infrastructure, Jasa
Marga continuously strives to give its shares of
contribution to national development by means
of infrastructure development having strategic
impacts on the increase in the free flow of goods
and services so that it will lead to the development
of regional economy. This role will always be
Jasa Marga’s reference in performing to develop
national economy, including in supporting the
achievements of Government prioritized programs
to have sovereignty in the sectors of maritime, food
and energy. In the implementation, Jasa Marga will
remain to refer to business development principles
and good corporate governance.
Other challenges relate to the advancement of the
Company’s capability in controlling its Branches
and Subsidiaries that are growing in quantity and
coverage. This is carried out by improving internal
control system, strengthening Management level,
improving corporate governance, increasing HR
capacity, and expanding the usage of information
technology. In view of selection of Directors and
Commissioners of the Subsidiaries as well as the
position of one level below Directors, the Board
of Commissioners constantly hold on to the
principles of assessment prioritizing the aspects of
professionalism, integrity, capability and experience,
along with the vision to always make sustainable
innovations and improvements. The Board of
Commissioners also requested that the Directors
prioritize clear and measurable process of HR
guidance in order to endorse Jasa Marga personnel
to work effectively and efficiently within the ties of
Jasa Marga values. With these steps, the Board of
Commissioners is optimistic that Jasa
Marga’s future is based on solid foundation.
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Assessment on Performance of the Committees under the Board of CommissionersThe Company has two (2) Committees under the
Board of Commissioners, i.e. Audit Committee and
Business Risk and Investment Committee. In carrying
out its tasks, Audit Committee always refers to Audit
Committee Work Program (Program Kerja Komite
Audit – PKKA). The 2014 PKKA was approved by the
Board of Commissioners through Internal Meeting of
the Board of Commissioners on 23 January 2014. In
general, PKKA 2014 has been carried out according
to the set targets. In view of the achievement of
key performance indicator (KPI) suggesting the
performance of the Committees during the period
of 2014, Audit Committee succeeded in reaching
the score of 4.75 from the targeted score of 5.00,
whereas Business Risk and Investment Committee
succeeded in reaching the total score of 90.
ClosingFinally, we would like to extend our gratitude for the
attention, participation and cooperation of all Jasa
Marga stakeholders so that the Company is well and
efficiently managed. We would also like to show
our high appreciation to the Directors, Management
and all elements of Jasa Marga for their success in
maintaining the Company’s performance in the fiscal
year of 2014. We certainly hope that the harmonious
and synergic relationship and cooperation is
maintained and further improved to lead PT Jasa
Marga (Persero) Tbk. to be a highly competitive
company that ceaselessly gives its contributions to
the development of the country.
Board of Commissioners
Agoes widjanarkoChairman
Ibnu Purna Akhmad Syakhroza Commissioner Commissioner
Boediarso Teguh widodo Mayjen. (Purn.) Samsoedin Commissioner Independent Commissioner
Irjen. Pol. (Purn.) Michael Dendron Primanto Independent Commissioner
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Agoes widjanarkoCHAIRMAN
• HewasappointedChairmanbased on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegree in Construction Civil Engineering from Sepuluh Nopember Institute of Technology, Surabaya and his Master’s Degree in Infrastructure Planning from University of Stuttgart, West Germany.
• PreviouspositionsincludeSecretary General of the Ministry of Public Works (2008-2014), President Commissioner of PT Wijaya Karya (Persero) Tbk. (2007-2012), Director General of Cipta Karya, Ministry of Public Works (2005-2008), Expert Staff of the Minister of Settlement and Regional Infrastructure for Social Culture and Community Role (2003-2005) and Director of Housing Fund, Directorate General of Settlement, Department of Settlement and Regional Infrastructure (2001-2003).
• Ageasof31December2014was 60 years.
Ibnu PurnaCOMMISSIONER
• HewasappointedCommissioner based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’s Degree in Economics from Airlangga University, Surabaya and his Master’s Degree in Arts from University of Flinders, Australia.
• PreviouspositionsincludeDeputy Cabinet Secretary (2011-2014), Secretary of the Ministry of the State Secretariat (2010), Deputy Minister of the State Secretariat for Policy Support (2007-2010) and President Commissioner of PT Kawasan Berikat Nusantara (2007-2012).
• Ageasof31December2014 was 60 years.
Akhmad SyakhrozaCOMMISSIONER
• HewasappointedCommissionerbasedon Decision Letter of State Minister for SOEs No. 33/MBU/2006 dated 14 March 2006 and was extended based on Resolution of Extraordinary General Meeting of Shareholders on 17 March 2011 and Resolution of Annual General Meeting of Shareholders on 14 June 2011. He was reappointed Commissioner based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegreeinAccounting from Faculty of Economics of University of Indonesia (1987); his Master’s Degree in Accounting, Finance and Information System from Cleveland State University, Ohio, USA (1991); and his Doctoral Degree in Organizational Behavior and Management Accounting from the Faculty of Business and Public Management of Edith Cowan University, Perth, Australia (2002).
• PresentlyheisalsoprofessorofEconomicsFaculty of University of Indonesia (2004-present) and lecturer at Economics Faculty of University of Indonesia (1986-present), Expert Staff of Accounting Development of Economics Faculty of University of Indonesia (2009-present). Previous positions include Financial Expert of SKK MIGAS (2013-2014), Member of the Supervisory Board of Bank Indonesia (2009-2012), Expert Staff of the Minister of Energy and Mineral Resources (2009-2011) and Expert Staff of National Auditing Agency for Management and Organization (2005-2007). He once worked at Citibank Jakarta (1989-1990), Bimantara Group (1988-1989) and Public Accountant Amir Abadi Jusuf (1986-1988).
• Ageasof31December2014was51years.
PROFILE OF BOARD OF COMMISSIONERS
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Boediarso Teguh widodoCOMMISSIONER
• HewasappointedCommissioner based on Resolution of Annual General Meeting Shareholders on 11 March 2014.
• HecompletedhisBachelor’sDegree in Economy from Diponegoro University, Semarang (1980), his Master’s Degree in Public Finance Economy from University of Indonesia (2005) and his Doctoral Degree of Economics Science from University of Indonesia (2012).
• PresentlyheisalsoDirectorGeneral of Fiscal Balance (2013-present). Previous positions include Member of Board of Commissioners of Pupuk Petrokimia (2012-2014), Expert Staff of the Minister of Finance for State Expenses (2012-2013), Member of Board of Commissioners of PT Bank Bukopin (2005-2009) and Member of Board of Commissioners of PT Biro Klasifikasi Indonesia
(2004-2009).• Ageasof31December2014
was 56 years.
Mayjen. (Purn). Samsoedin INDEPENDENT COMMISSIONER
• HewasappointedIndependentCommissioner based on Decision Letter of the State Minister for SOEs No. 33/MBU/2006 dated 14 March 2006 and was extended based on Resolution of Extraordinary General Meeting of Shareholders on 17 March 2011 and Resolution of Annual General Meeting of Shareholders on 14 June 2011. He was reappointed Independent Commissioner based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegreein State Administration (1995) and his Master’s Degree in Management from University of the Philippines-UPI (1996).
• Hismilitarycareerincludesthepostsof Army Chief of Staff Coordinator Advisor (1996), Head of Army Research and Development (1995), Commander of Artillery Center (1993), Commander of Military Resort 162 Kodam Udayana (1988), Commander of Artillery Training and Education Center (1985), Commander of Regiment ARMED 2 KOSTRAD (1983) and Commander of Military District, Battalion Commander of the ARMED. Previous positions include Commissioner of PT Telekomindo Prima Bhakti (2000), member of the House of Representatives of the Republic of Indonesia (1997-1999) and Widyaiswara Utama (Senior Lecturer) at National Resilience Institute (1996).
• Ageasof31December2014was72 years.
Irjen. Polisi (Purn.) Michael Dendron PrimantoINDEPENDENT COMMISSIONER
• HewasappointedIndependentCommissioner based on Decision Letter of State Minister for SOEs No. RIS-292/D.VI.MBU/2007 dated 12 September 2007 was reappointed Independent Commissioner based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegree in Law from Lampung University and his Master’s Degree in Law from Lampung University. He also graduated from the Police Academy in Semarang in 1973 and from the College of Police Science (PTIK) in 1981, School of Police Staff & Leadership (Sespimpol) in Lembang, West Java (1985-1986) and the Joint Forces Command (Seskogab) in Bandung, West Java (1995-1996).
• HeretiredfromtheNationalPolice and the last position was Governor of Police Academy in Semarang with the rank of Police Inspector General. Previous positions also include Chief of Lampung Regional Police (2002) and Head of Medan City Police (1996).
• Ageasof31December2014was65 years.
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Directors Report
DEAR SHAREHOLDERS,
The year 2014 represents the initial stage as the
continuation of the transformation carried out by the
Management in order that the Company continues
to perform by showing its growth and development
to solidify the Company’s domination in toll road
industry in the future.
We would like to take this opportunity to present the
Annual Report 2014 that describes the achievements
of the Company’s performance in 2014, along with
series of efforts carried out by the Management in
performing the transformation in order to increase
the competitiveness and reinforce the Company’s
position in the toll road industry in the years to come.
As of this moment, the Company is still capable of
maintaining its position as the leader in toll road
industry by dominating 72% of the market share of
operating toll roads and 80% of the market share of
traffic volume transaction in Indonesia.
With newly elected Government, Management
certainly expects investment climate, particularly
in the field of toll road, to be more inviting as
Government targets to build connectivity by
means of air, land as well as water/sea.
In order to achieve the Company’s Vision as one
of the Leading Companies in the country and to
improve National connectivity, the Management
will keep adding the Company’s length of toll
roads and boosting the performance of toll roads
operation, along with diversifying its business by
conducting non-toll road businesses that support
toll road development and operation. Moreover,
to support the achievement of its Vision, the
Company has also made transformation in the
aspects of organization and HR management as
well as transformation in the field of information
technology to enhance efficiency and productivity.
In order to improve National connectivity, the Management will keep adding the Company’s length of toll roads and boosting the performance of toll roads operation, along with diversifying its business by conducting non-toll road businesses that support toll road development and operation
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adityawarmanPresident Director/CEO
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THE COMPANy’S STRATEGIC POLICIESIn achieving its targets, in 2014, the Company has
carried out the following strategic measures:
1. Toll Road Business Development
In 2014, the Company continued to make
every effort to add to its operating toll roads
by keeping its focus on the nine new toll road
sections owned by the Company. At the same
time, the Company also sought the opportunity
to add to its toll road concessions by means of
tender, acquisition and unsolicited method for
potential toll road sections.
2. Toll Road Operation
In 2014, in the aspect of toll road operation, the
Company continued to improve its services by
fulfilling the needs for traffic services to the
increasing traffic volume.
Improvement in the services focused on
modernizing operation system and increasing
road capacity. Modernization was conducted by
continually adding automated toll booth (Gardu
Tol Otomatis – GTO) and increasing access to real
time information on traffic services.
3. Other Businesses Development
In 2014, the Company continued to increase
revenues deriving from non-toll road business
consisting of Toll Road Maintenance Services,
Toll Road Operation Services, Management
of Rest and Services Areas, Space Rent for
Advertisements and Property.
Performance Achievement of the CompanyThe Company’s target to add its operating toll roads
in 2014 was successfully achieved with the operation
of three (3) toll road sections, i.e. Ungaran-Bawen
Section of Semarang-Solo Toll Road, Section 2A
of Bogor Outer Ring Road Toll Road and JORR
W2 North Toll Road to maintain its position as the
Leader of Toll Road Industry in Indonesia.
In 2014, the Company has also succeeded in
winning the tender of Medan-Kualanamu-Tebing
Tinggi (MKTT) Toll Road of 61.7 km. MKTT connects
the Company’s already operated toll road section
Belmera Toll Road in Medan to Kualanamu
International Airport and the city of Tebing Tinggi.
The Company is optimistic that MKTT will be the
solution to transportation issues for the people of
Medan when they are leaving for the Airport and
Tebing Tinggi.
In the aspect of toll road operation, improvement
in services to toll road users has been realized by
modernizing the operation by providing additional
69 automated toll booths. The effort led to the
positive impact on the use of e-Toll Card, and this
was reflected in the increase in the e-Toll Card
transactions out of the total transactions from
previously 11.07% in 2013 to 11.72% in 2014. Moreover,
modernization was also carried out in providing
real time information on traffic condition to toll
road users by adding 13 more traffic information
board showing traffic information and continually
improving the services of Jasa Marga Traffic
Information Center.
The Company has succeeded in operating three new toll road sections, i.e. Ungaran-Bawen Section of Semarang-Solo Toll Road, Section 2A of Bogor Outer Ring Road Toll Road and JORR w2 North Toll Road to maintain its position as the Leader of Toll Road Industry in Indonesia
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To respond to the issues of traffic congestion and
increase driving comfort, in 2014, the Company
conducted widening on Cibinong-Sentul Selatan
Section of Jagorawi Toll Road. We also provided
additional transaction booths to reduce congestion
at toll gates.
The achievement of traffic volume transactions on
toll roads operated by the Company with 1.319.60
million transactions was lower by 3.65% over
what was targeted yet still represented growth by
4.41% compared to that of the previous year. The
realization of traffic volume transaction lower than
expected in 2014 was the result of impediment of
the flow of vehicles in the beginning of the year due
to flooding in Jakarta and Jalur Pantai Utara/Pantura
(the north coast of West Java) along with the delays
in the operation of new toll roads due to delays in
land acquisition. To compensate the traffic volume
transaction lower realization, the Company made
efforts of efficiency so that its financial performance,
net profit in particular, still shows growth compared
to the previous year.
In 2014, non-toll road business development was
supported by Toll Road Maintenance Service,
Toll Road Operation Services, Space Rent for
Advertisements and Management of Rest and
Services Areas. Performance achievement in non-
toll road business development this year was quite
satisfactory, as non-toll revenues showed growth by
14.74% compared to that of the previous year.
Traffic volume not reaching target has resulted in
the achievement of Operating Expenses (excluding
Construction Revenues) in 2014 amounting to
Rp 7,229.46 billion below target by 0.19% yet still
showing growth by 14.56% compared to that of the
previous year. In spite of not reaching its Operating
Expenses target, the Company continued to make
efforts in efficiency hence resulting in 2014 Net
Profit reaching Rp 1,403.43 billion showing an
increase by 36.57% from that of the previous year.
The efforts conducted to make the Company grow
have shown positive results as the Company’s
assets rose by 13.54% from Rp 28,058.58 billion to
Rp 31,857.95 billion.
In 2014, the Company succeeded in maintaining
the bond rating at AAstable despite the Company’s
period of significant expansion. This suggests
the high level of trust from rating agency for the
Company’s future financial capacity.
In 2014, in the Criteria for Excellent Performance
Assessment (Kriteria Penilaian Kinerja Unggul
– KPKU), the Company achieved the score of
603.25 (emerging industry leader), an increase
from the previous year with the score of 577. This
achievement puts the Company in the big ten of
KPKU assessment of all SOEs.
In order to preserve the potential rapid growth of toll
road and the achievements of the Company’s Vision
of 2017, Jasa Marga continues the transformation of
its organization to bridge and prepare its employees
to become future leaders of the Company by
conducting trainings that will advance their
competencies and leadership.
Obstacles Faced by the CompanyIn 2014, the major obstacle the Company had to
face still revolved around land acquisition issue. To
ensure that land acquisition process is on schedule,
the Company consistently continues to coordinate
with the Government through the Land Acquisition
Acceleration Team the Company has formed. The
strategies carried out was proven to be effective as
in 2014, the Company succeeded in operating three
of its toll road sections.
In the operational aspect, flood and congestion
issues especially in Jakarta gave quite an impact to
the Company’s Toll Revenues target of achievement.
Various efforts have been conducted to overcome
flooding by providing emergency suction at several
areas prone to flooding and fixing the water waste
channels. The ever-increasing congestion on arterial
roads also contributed to toll road congestion,
particularly on sections located in Jakarta and this
has resulted in the decrease in toll road capacity,
and traffic volume growth therefore is not as high as
we expected.
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To overcome congestion, new road network is
required so that vehicles are well distributed. One of
the things the Company is capable of is accelerating
the development of JORR W2 North Toll Road, the
missing link on JORR Toll Road connecting Jakarta-
Cikampek and Jakarta-Merak Toll Roads so that
heavy vehicles from Cikampek do no need to enter
the Jakarta Inner Ring Road Toll Road. We have also
kept coordinating with the Government in order to
speed up the land acquisition of the JORR 2 sections
and the start of construction, hence enabling the
distribution of vehicles once they are operated.
Future Prospect of the Company’s BusinessThe years 2014 to 2017 are of important period
for the Company. During the period, all of the
Company’s new toll road sections are scheduled
to be fully operated. Particularly in 2015, the
Company plans to operate three (3) additional toll
road sections: Gempol-Pandaan, Section Gempol-
Rembang of Gempol-Pasuruan and Section Krian-
Mojokerto of Surabaya-Mojokerto.
The Company will also participate in the
development of several new projects to improve
national connectivity and support the vision of
the Government of the Republic of Indonesia in
developing 1,000 km toll roads in the country.
To support the said vision of the Government,
the Company will complete the ten new toll
road sections that it owns from which two are
fully operated. Simultaneously, the Company will
participate on the tenders of potential toll roads,
starting from Pasir Koja-Soreang Toll Road in 2015.
The operation of the abovementioned toll road
sections along with the efforts in making efficient of
cost of operation on toll roads already operated, the
Company is optimistic that its performance will grow
significantly in the following years.
Sustainable Implementation of Corporate GovernanceThe Company is committed to ensuring that
business management activities are carried out
prudently and based on the principles of Good
Corporate Governance (GCG) and that the Company
keeps perfecting GCG practices that have been
implemented. To strengthen the implementation
of GCG, the Company has actively conducted
socialization of implementation of Whistleblowing
System, Integrity Pact Commitment and Gratification
Restraint Program.
In 2014, the Company was declared a committed
SOE in the Clean SOE/BUMN Bersih program. In the
same year, the Company also participated in GCG
assessment carried out by the Indonesia Institute for
Corporate Directorship (IICD) assessing Corporate
Governance (CG) practices based on Asean CG
Scorecard CG.
The efforts to always improve the practices of
GCG were reflected in the Company’s success in
maintaining its achievement in the Score of GCG
Assessment in 2014 as the Company succeeded in
achieving the predicate of Very Good with the score
of 96.63.
Corporate Social ResponsibilityThe programs of Corporate Social Responsibility are
emphasized on educational activities oriented to
toll road operational. The activities include among
others ecological responsibility such as toll road
forestation program by planting over 30,000 trees
and using LED lights for Public Street Lighting
(Penerangan Jalan Umum – PJU) at over 9,000
spots, along with socialization on clean environment
to the society. This is carried out as part of the
Company’s contribution to reducing the impact of
global warming as well as maintaining balance of the
environmental ecosystem in the surroundings of the
Company’s operating toll roads.
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In the field of social community, to educate people
on toll road activities, the focus of the programs
was on the aspects of education and social
awareness such as safety driving, Jasa Marga Goes
to Campus, Free “Mudik” and caring for areas
struck by natural disasters.
Changes in the Composition of the DirectorsIn the beginning of 2015, the Company’s Business
Development Director Ir. Abdul Hadi Hs., MM.
tendered his resignation with his letter No. DA 03
dated 15 January 2015 following his being appointed
President Director of PT Jakarta Propertindo.
Through its letter No. AA.KP05.83 dated 22 January
2015, the Company has assigned Ir. Hasanudin M.
Eng. Sc. as Acting Business Development Director
until the Company convenes its Annual GMS.
ClosingWith high spirit of hard work along with
togetherness, we are optimistic that the
performance of the Company in the future will
continue to improve and that the Company will be
capable of contributing to the National connectivity,
hence enabling national economic growth, in line
with this year’s Annual Report theme “Connectivity
for Driving Growth”.
We would like to extend our gratitude
to the Board of Commissioners for their
recommendations and supervision of the
programs carried out by the Company, as well
as to the entire Jasa Marga employees for the
hard work and dedication they have presented in
carrying out their tasks resulting in Jasa Marga’s
excellent performance throughout 2014.
The Directors would also like to extend their thanks
and highest appreciation to the Shareholders for all
the supports they have given, making possible for
the Company to continue the carrying out of various
developments in 2014. Our high appreciation is
also extended to the Government, people, toll road
users, along with our business partners and other
stakeholders for the well-nurtured cooperation and
support for Jasa Marga.
May God Almighty grant His blessings to all of us.
Board of Directors
AdityawarmanPresident Director/CEO
Hasanudin Abdul Hadi Hs. Operation Director Business Development Director
Reynaldi Hermansjah Muh Najib Fauzan Finance Director Human Capital & General Affairs Director
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AdityawarmanPRESIDENT DIRECTOR/CEO
• HejoinedJasaMargain1983 and was appointed President Director/CEO based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegree in Civil Engineering from Diponegoro University and his Master’s Degree in Management from Trisakti University.
• PreviouspositionsincludeOperation Director of Jasa Marga (2008-2012), Commissioner of PT Citra Waspphutowa (2006-2008), President Commissioner of PT Citra Margatama Surabaya (2002-2009), Operation and Business Development Director of PT CMNP (2002-2007), Operation Director of PT CMNP (2000-2002), Commissioner of PT CMNP (1998-2000), Cawang-Tomang-Cengkareng Branch Manager (1997-2000), and Jagorawi Branch Manager (1993-1997).
• Ageasof31December2014was 59 years.
HasanudinOPERATION DIRECTOR
• HejoinedJasaMargain1988and was appointed Operation Director based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegree in Transportation Engineering from Sepuluh Nopember Institute of Technology, Surabaya and his Master’s degree in Transportation Engineering from University of New South Wales, Sydney, Australia.
• PresentlyheisalsoCommissioner of PT Trans Marga Jateng. Previous positions include Head of Maintenance Division (2006-2012), Commissioner of PT Marga Mandala Sakti (2008-2010), and Cipularang Toll Road Development Project Manager (2004-2005).
• Ageasof31December2014was 51 years.
Abdul Hadi Hs.BUSINESS DEVELOPMENT DIRECTOR
• HejoinedJasaMargain1987.Hewasappointed Business Development Director based on Decision Letter of the State Minister for SOEs No. 32/MBU/2006 dated 14 March 2006 and was extended based on Resolution of Extraordinary General Meeting of Shareholders on 17 March 2011 and on Resolution of Annual General Meeting of Shareholders on 14 June 2011. He was reappointed Business Development Director based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012
• HecompletedhisBachelor’sDegreeinCivilEngineering from Trisakti University and his Master’s Degree in Management from University of Indonesia.
• PresentlyheisalsoPresidentCommissioner of PT Jasamarga Bali Tol, Commissioner of PT Marga Lingkar Jakarta and Commissioner of PT Jasamarga Properti. Previous positions include President Director of PT Jalantol Lingkarluar Jakarta (2001-2005), Head of Investment Development Division (1994-2001), Commissioner of PT Bukaka Marga Utama (1995-2001) and Head of Toll Road Investment Team (1994-2001). Previous positions also include Head of Regional and International Market Division of Indonesian Road Development Association – HPJI (2007-2011) and he was reappointed Head of International Market Development and Relation of Indonesian Road Development Association on 20 February 2012.
• Ageasof31December2014was57years.
PROFILE OF DIRECTORS
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Reynaldi HermansjahFINANCE DIRECTOR
• HewasappointedFinanceDirectorbased on Decision Letter of the State Minister for SOEs No. 32/MBU/2006 dated 14 March 2006 and was extended based on Resolution of Extraordinary General Meeting of Shareholders on 17 March 2011 and on Resolution of Annual General Meeting of Shareholders on 14 June 2011. He was reappointed Finance Director based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegreein Electrical Engineering from Trisakti University.
• PresentlyheisalsoCommissionerof PT Marga Sarana Jabar and President Commissioner of PT Trans Lingkar Kita Jaya. He has 15 years of experience in financial sector of investment and capital market. He began his career in 1991 at Nomura Securities and afterwards held several key positions at several multinational companies. Prior to being assigned at Jasa Marga, he was the President Director of PT PNM Investment Management from 2003 until 2006. He presently holds an Investment Manager License from Bapepam (No. KEP-38/PM-PI/1993).
• Ageasof31December2014was 47 years.
Muh Najib FauzanHUMAN CAPITAL & GENERAL AFFAIRS DIRECTOR
• HejoinedJasaMargain1990andwasappointed Human Capital and General Affairs Director based on Resolution of Extraordinary General Meeting of Shareholders on 30 January 2012.
• HecompletedhisBachelor’sDegreeinCivil Engineering from Bandung Institute of Technology and his Master’s Degree in Highway Engineering from Bandung Institute of Technology.
• PresentlyheisalsoCommissionerofPTMarga Nujyasumo Agung (2009-present) and President Commissioner of
PT Jasa Layanan Pemeliharaan. Previous positions include Head of Corporate Planning Bureau (2006-2012), Head of Jasa Marga IPO Team (2007).
• Ageasof31December2014was 54 years.
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36.57%
INCOME FOR THE yEAR ATTRIBUTABLE TO
OwNER OF THE PARENT INCREASED By
14.54%TOLL REVENUES INCREASED By
TOTAL TRAFFIC VOLUME TRANSACTION
INCREASED By
4.41%
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As of the end of 2014, Jasa Marga operates 576 km of toll roads, or 72% of the total length of toll roads in Indonesia.
Management Discussion and Analysis
The discussions in this Management Discussion
and Analysis is based on information obtained
from the Consolidated Financial Report of PT Jasa
Marga (Persero) Tbk and Subsidiaries for the years
ended December 31, 2014 and 2013, that have been
audited by Public Accontant Office (KAP) Aryanto,
Amir Jusuf, Mawar & Saptoto and obtained opinion
of fairly, in all material respects, the consolidated
financial position of PT Jasa Marga (Persero) Tbk
and Subsidiaries as of December 31, 2014, as well as
financial performance and consolidated cash flows
for the year ended, in accordance with Financial
Accounting Standards (SAK) in Indonesia.
General ReviewIndonesia is the fourth largest country in the world
with a population of around 252 million people
in 2014. The average annual population growth
rate reached 1.49% from 2000 untill 2010, and the
population is expected to grow to 300 million
people by 2030. Indonesia has one of the highest
urbanization rate in the ASEAN region. According to
the Central Bureau of Statistics (BPS), the number of
urban residents reached 50% of total population in
2010 and is expected to reach 67% in 2035. This will
affect the consumption patterns and infrastructure
needs that are appropriate to support the growing
urban population. The level of car ownership in
Indonesia is still low at 69 cars per 1,000 people in
2011 and about 80 cars per 1,000 people in 2014,
which is relatively low compared with the United
States, which has ratio of 800 cars per 1,000 people.
This shows a great growth potential because
Indonesia is projected to surpass Germany to
become the seventh largest economy in the world in
2030.
The automotive market in Indonesia is projected
to grow by 1.2 million units in 2014 and 2.4 million
units in 2020. Indonesia is expected to become the
largest automotive market in ASEAN, driven by
sustainable economic growth and supported by a
growing middle class population with rising income.
The car sales in domestic market grew by 15% from
2008 to 2014 and the number of vehicles has grown
four-fold in the last decade. This was attributable
to the fuel (BBM) subsidies and tax incentives to
purchase a new car. According to Gaikindo, the
car sales in Indonesia reached reached 1.21 million
units in 2014, which also reflects the economic
(GDP) growth of Indonesia by 5.02% in 2014. The
car sales in Indonesia in 2014, was largely driven
by sales of low-cost green car (LCGC) that are
more affordable. Vehicle growth in Indonesia has
exceeded the growth in road construction, indicated
that the density of the vehicle has reached three-
fold over the past decade. The growth rate of the
vehicles has a positive correlation with the traffic
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volume, therefore the growth in vehicle sales results
in higher traffic volume, which consequently leads
to an increase in demand for additional toll road
development.
In 2014, the Indonesian economy is still recording
growth. This can be seen from economic
indicators namely the increase of Gross Domestic
Product (GDP) (based on current prices) by
5.02%. On the other hand, inflation reached 8.36%
(BPS data), and the rupiah exchange rate against
the US dollar stood at Rp 12,388 per December
31, 2014 (Bloomberg data). However, the last
indicator does not have significant impact on the
Company’s business given that the Company did
not have business transactions that use of foreign
currencies. The economc growth is reflected in
the increasing need for strengthening the national
connectivity. One of the efforts to strengthen
the national connectivity is the development of
additional toll road networks, which is also one
of the strategic programs of the government
included in MP3EI (Masterplan for Acceleration
and Expansion of Indonesia’s Economic
Development). Up to end 2014, the development
of the toll road that has been in operation is
still very little compared to the total toll road
construction plan that has been in the National
Medium Term Development Plan (RPJMN 2010-
2014), with a target length of 1,416.4 km.
The Company has operated 576 km of toll roads
until end 2014, or 72% of the total length of toll
roads of 800 kilometers in Indonesia. Up to 2017,
the Company plans to add 157 kilometers of new
toll roads bringing the total ownership of the toll
roads that will be operated by the Company in
2017 to reach 733 km, an increase of 27.26% of the
total length of national toll roads today. With the
aforementioned condition, the Company will still
lead the toll road industry in Indonesia.
Review on the Company’s Performance Compared with Toll Road IndustryFollowing is the overview of the Company’s performance compared with toll road industry in term of length,
toll revenues, traffic volume and ROE.
Length of Toll Road
Jasa MargaIn 2014, the length of toll roads of the Company
grew by 2.86% to reach 576 km from 560 km in
2013. The market share of the Company in 2014
reached 72%, compared to 74% in 2013.
Toll Road IndustryThe total length of national toll road grew by 13.31%,
from 706 km in 2013 to 800 km in 2014.
Length of Toll Road(km)
2013
56
0
2014
576
Jasa Marga
2013
70
6
2014
80
0
Industry
105PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Toll Revenues
Jasa MargaIn 2014, toll revenues of the Company grew by
14.545 to reach Rp 6.65 trillion from Rp 5.80
trillion in 2013.
Toll Road IndustryToll revenues of the national toll road industry grew
by 17.72% to Rp 9.23 trillion in 2014 from Rp 7.84
trillion in 2013.
Toll Revenues(billion rupiah)
2013
5,8
02.
73
2014
6,6
46
.39
Jasa Marga
2013
7,8
41.
53
2014
9,2
31.1
0
Industry
Traffic Volume
Jasa MargaIn 2014, the traffic volume of the Company grew
by 4.41% to 1,319.60 million vehicles from 1,263.91
million vehicles in 2013.
Toll Road IndustryThe national traffic volume grew by 7.30% to 1,832.78
million vehicles in 2014 from 1,707.99 million vehciles
in 2013.
Traffic Volume(million vehicles)
2013
1,2
63.9
1
2014
1,3
19.6
0
Jasa Marga
2013
1,7
07.
99
2014
1,8
32.7
8
Industry
Return on Equity (ROE)/Return on Assets (ROA)
Jasa MargaIn 2014, ROE of the Company reached 12.88%
from 9.73% in 2013 and ROA of the Company
reached 4.41% from 3.66% in 2013.
Toll Road IndustryN/A
ROE/ROA (%)
ROE ROA2013 2013
9.73
2014 2014
12.8
8
Jasa Marga
3.6
6
4.4
1
106 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Company’s Business ActivitiesThe business activities of the Company according to the Company’s Articles of Association No. 8 dated
August 8, 2008, which was amended by the Articles of Association No. 33 dated April 5, 2011, and
approved through the Decree of the Minister of Justice and Human Rights of the Republic of Indonesia
No. AHU-20288.AH.01.02 in 2011, Jasa Marga as a provider of toll road infrastructure, has major business
activities as follows:
1. Perform technical planning, construction, operation and/or maintenance of toll roads.
2. Developing the land area by the sides of toll roads (Rumijatol) and land that borders with Rumijatol for
rest and service areas, and other facilities and businesses.
In addition to the main activities, the Company also engages in supporting business activities, namely:
1. Property development business in the areas adjacent to the toll road corridors.
2. Development services business associated with the mode/means of transportation, distribution of
material liquid/solid/gas, information network, technology and communication, related to the toll
road corridors.
3. Services and trade business for construction services, maintenance and operation of toll roads. Currently
the Company’s main activity is supported by nine (9) branches, 1 (one) Business Unit and 11 (eleven) Toll
Road subsidiaries. While supporting business activities strengthened by the establishment of two (2)
Subsidiary firms.
Operational Review by Business SegmentJASA MARGA BUSINESS SEGMENT
Jasa Marga business segment
Toll
Main others
Non-Toll
Jagorawi branch surabaya-gempol branch
Fuel sales
Jakarta-Cikampek branch semarang branch
Land rent
Cawang-Tomang-Cengkareng branch
semarang branch
Toll road operating service
Purbaleunyi branch
Palikanci branchadvertisements
PT Marga Nujyasumo agung
Head office (Jorr)
business Unitothers
PT Trans Marga Jateng
Jakarta-Tangerang branch
PT Marga sarana Jabar
PT Jasamarga bali Tol
PT Marga Lingkar Jakarta
107PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
BASIS OF IMPLEMENTATION OF JASA MARGA BUSINESS SEGMENTIn carrying out its operational activities, Jasa Marga
divides its business segments based on the nature
of the Company’s business, which in accordance
with the Articles of Association of the Company,
Business Segments are divided into:
I. Toll Road Operation SegmentIn accordance with PSAK 5 (Revised 2009)
regarding Operating Segments, Business
Segment in Operating the Company’s Toll Road
is divided into two (2) large groups. The first
group is a six (6) segments with the largest
operating results or segments whose combined
operating results contributing 75% of the total
operating results. The second group is the
Other Segment, which is not part of the first
segment, or which contributing 10% of the total
operating results.
Here is the distribution of the Company’s
Business Segment:
a. Main Segment1. Jagorawi Branch
2. Jakarta-Cikampek Branch
3. Cawang-Tomang-Cengkareng Branch
In 2014, the total traffic volume transactions of the Company reached 1319.60 million vehicles, with 86.69%
of them are class I vehicles (sedans, pick-ups) and 12.84% are class of large vehicles (trucks and buses).
The largest contribution to the achievement of the Company’s traffic volume came from the operation of
Cawang-Tomang-Cengkareng section, where the contribution reaches 21.43% or 282.81 million vehicles of
overall total transactions. With the attainment of the traffic volume, toll revenues of the Company reached
Rp 6.65 trillion. The largest contribution of Toll Revenue comes from the Cawang-Tomang-Cengkareng
segment with Toll Revenues contribution amounting to 18.24% or Rp 1.21 trillion.
The increase of toll revenues partly due to the adjustment of toll rates on toll roads owned by the
Company. The tariff adjustment provision has been stipulated in the Law No. 38 of 2004 on the Road,
Article 48 and Government Regulation No. 15 in 2005 containing in the Article 6 paragraph (1) and (2)
which stated that the toll road operator can adjust rates every two years based on inflation rate.
Until now, the toll rate increase was in accordance with the schedule set out in the Law as mentioned
above. The government has shown consistency in maintaining the favorable investment climate in toll
road. The toll tariff adjustment is aiming at assuring certainty of the return on investment that has been
undertaken by the investor. In accordance with the Decree of the Minister of Public Works No. 522/KPTS/
M/2014 on September 11, 2014 and the Decree of the Minister of Public Works No. 539/KPTS/M/2014
dated October 8, 2014, the adjustment of toll rates in 2014 was applied in two (2) toll road sections of the
Company, as follows:
4. Purbaleunyi Branch
5. Head Office (JORR)
6. Jakarta-Tangerang Branch
b. Other Segment 1. Surabaya-Gempol Branch
2. Semarang Branch
3. Belmera Branch
4. Palikanci Branch
5. Business Unit
6. PT Marga Sarana Jabar
7. PT Marga Nujyasumo Agung
8. PT Trans Marga Jateng
9. PT Jasamarga Bali Tol
10. PT Marga Lingkar Jakarta
II. Non-Toll Business Segment1. Fuel (BBM) Sales
2. Land Lease
3. Operating Service of Toll Road owned by
Other Parties
4. Advertizing revenue
5. Other
The detailed information on business segment
business, is contained in the note 47 of the
Consolidated Financial Statements.
108 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Toll Roads with Tariff Adjustment in 2014
No. Segment Section Branch/SubsidiaryDecision of Minister of Public
works as Basis of Tariff Adjustment
1. Cawang-Tomang-
Cengkareng
Prof. Dr. Ir. Sedyatmo Cawang-Tomang-
Cengkareng
No. 522/KPTS/M/2014
2. Jakarta-Cikampek Jakarta-Cikampek Jakarta-Cikampek No. 539/KPTS/M/2014
Following is the results of Business Segments of the Company in 2013 and 2014:
Traffic Volume Transactions in 2013-2014 (million vehicle transactions)
No Segment Section Branch/ Subsidiary
2013 2014
Δ Δ%Amount Proportion
(%) Amount Proportion(%)
1. Jagorawi Jagorawi Jagorawi 199.61 15.79 201.32 15.26 1.71 0.86
2. Jakarta-Cikampek Jakarta-Cikampek Jakarta-Cikampek 202.21 16.00 206.13 15.62 3.92 1.94
3.Cawang-Tomang-Cengkareng
Prof. Dr. Ir. Sedyatmo Cawang-Tomang-
Cengkareng
74.82 5.92 76.43 5.79 1.62
(0.10)Jakarta Inner Ring Road/JIRR 208.27 16.48 206.38 15.64 (1.90)
4. PurbaleunyiPadaleunyi
Purbaleunyi 58.03 4.59 60.04 4.55 2.02
3.82Cipularang 5.88 0.47 6.31 0.48 0.42
5. Jakarta-Tangerang Jakarta-TangerangJakarta-Tangerang 113.02 8.94 119.83 9.08 6.81 6.02
6. Head Office (PT JLJ)
Jakarta Outer Ring Road/JORR
PT Jalantol Lingkarluar Jakarta
146.72 11.61 151.63 11.49 4.91
1.61
Ulujami-Pondok Aren
PT Jalantol Lingkarluar Jakarta
46.91 3.71 45.13 3.42 (1.79)
7. Others
Surabaya-Gempol Surabaya-Gempol 81.69 6.46 82.87 6.28 1.18 1.45
Semarang Semarang 48.86 3.87 48.12 3.65 (0.74) (1.51)
Belmera Belmera 24.05 1.90 25.39 1.92 1.34 5.56
Palikanci Palikanci 20.19 1.60 19.93 1.51 (0.26) (1.27)
Bogor Outer Ring Road/BORR
PT Marga Sarana Jabar 12.52 0.99 13.68 1.04 1.16 9.25
Surabaya-Mojokerto
PT Marga Nujyasumo Agung 11.26 0.89 12.05 0.91 0.79 7.04
Semarang-Solo PT Trans Marga Jateng 6.58 0.52 15.56 1.18 8.98 136.57
Nusa Dua-Ngurah Rai-Benoa
PT Jasamarga Bali Tol 3.29 0.26 14.31 1.08 11.02 335.54
Kebon Jeruk-Ciledug (JORR W2 North)
PT Marga Lingkar Jakarta - - 14.49 1.10 14.49 -
ToTaL 1,263.91 100.00 1,319.60 100.00 62.55 4.41
109PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Traffic Volume Transactions in 2013-2014(million vehicle transactions)
5.88
6.3
1
201.
32
199.
64
206
.13
202.
21
206
.38
208.
27
119.
83
113.
02
146
.72
81.6
8
48.
86
24.0
5
2013
2014
20.1
9
12.5
2
11.2
6
6.5
8
3.29
-
46
.91
151.
63
82.8
7
48.
12
25.3
9
19.9
3
13.6
8
12.0
5
15.5
6
14.3
1
14.4
9
45.
13
76.4
3
74.8
2
60
.04
58.0
3
Jagorawi
Jakarta-Cikampek
Prof. Dr. Ir
. sedyatmo
Padaleunyi
Jakarta-Tangerang
Jakarta outer r
ing road Jorr
Ulujami-Pondok aren
surabaya-gempol
semarang
balmera
Palikanci
bogor out r
ing road/borr
surabaya-Mojokerto
semarang-solo
Nusa Dua-Ngurah rai-benoa
kebon Jeruk-Ciledug (Jorr W
2 North)
Cipularang
Jakarta Inner r
ing road/JIrr
Traffic Volume Transactions by Vehicle Class in 2013-2014(million vehicle transactions)
2014
2013
35.85
106.27
107.08
15.41
10.04
1.46
6.22
10.26
15.74
36.35
1,094.88
1,143.96
Class II
Class III
Class IV
Class V
Class VI
Class I
110 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Toll Revenues in 2014 (in Rp billion)
No Segment Branch/ Subsidiary Section
2013 2014
Δ Δ%Amount Proportion
(%) Amount Proportion (%)
1. Jagorawi Jagorawi Jagorawi 548.25 9.45 607.46 9.14 59.21 10.80
2. Jakarta-Cikampek
Jakarta-Cikampek Jakarta-Cikampek 976.57 16.83 1.023.43 15.40 46.86 4.80
3. Cawang-Tomang-Cengkareng Cawang-Tomang-
Cengkareng
Prof. Dr. Ir. Sedyatmo
423.16 7.29 458.05 6.89 34.88
9.22Jakarta Inner Road/JIRR 686.80 11.84 754.28 11.35 67.48
4. PurbaleunyiPurbaleunyi
Padaleunyi 276.29 4.76 339.93 5.11 63.6415.58
Cipularang 741.09 12.77 835.99 12.58 94.90
5. Jakarta-Tangerang
Jakarta-Tangerang Jakarta-Tangerang 408.01 7.03 467.12 7.03 59.11 14.49
6. Head Office (PT JLJ)
PT Jalantol Lingkarluar Jakarta
Jakarta Outer Ring Road/JORR
923.17 15.91 1.059.75 15.94 136.5812.08
PT Jalantol Lingkarluar Jakarta
Ulujami-Pondok Aren
131.85 2.27 122.70 1.85 (9.15)
7. Others Surabaya-Gempol Surabaya-Gempol 270.47 4.66 309.02 4.65 38.56 14.26
Semarang Semarang 104.77 1.81 106.50 1.60 1.73 1.65
Belmera Belmera 81.57 1.41 91.35 1.37 9.78 11.99
Palikanci Palikanci 107.49 1.85 112.44 1.69 4.95 4.60
PT Marga Sarana Jabar
Bogor Outer Ring Road/BORR
45.55 0.79 67.17 1.01 21.62 47.46
PT Marga Nujyasumo Agung
Surabaya-Mojokerto
17.55 0.30 18.78 0.28 1.23 7.01
PT Trans Marga Jateng
Semarang-Solo 36.49 0.63 107.25 1.61 70.77 193.95
PT Jasamarga Bali Tol
Nusa Dua-Ngurah Rai-Benoa
23.65 0.41 106.14 1.60 82.49 348.78
PT Marga Lingkar Jakarta
Kebon Jeruk-Ciledug (JORR W2 North)
- 59.04 0.89 59.04 -
ToTaL 5,802.73 100.00 6,646.39 100.00 843.66 14.54
Toll Revenues in 2014 (in Rp billion)
60
7.4
6
458
,05
339.
93
309.
02
1.0
23.4
3
754
.28
835.
99
1,0
59.7
5
467
.1254
8.25
423
.16
276
.20
270
.47
976
.57
686
.80 74
1.0
9
923.
17
40
8.0
1
131.
85
104
.77
81.5
7
107.
49
45.
55
36.4
9
23.6
5
-
17.5
5
122.
70
106
.50
91.
35
112.
44
67.1
7 107.
25
106
.14
59.0
4
18.7
8
Jagorawi
Jakarta-Cikampek
Prof. Dr. Ir
. Sedyatmo
Padaleunyi
Jakarta-Ta
ngerang
Jakarta Outer R
ing Road/JORR
Ulujami-Pondok Ranji
Surabaya-Gempol
Semarang
Belmera
Cipularang
Jakarta Inner R
ing Road/JIRR
20142013
Palikanci
Bogor Out R
ing Road/BORR
Surabaya-Mojokerto
Semarang-Solo
Nusa Dua-Ngurah Rai-Benoa
Kebon Jeruk-Ciledug (JORR W
2 North)
111PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
BUSINESS SEGMENT DEVELOPMENT STRATEGyIn principle, the main strategies of business
development are as follows:
• BusinessDevelopmentwiththegoalof
increasing the length of the Toll Road and other
related businesses to increase revenue and
financial strength of the Company.
In order to increase the length of toll roads
that are in operation, in 2014 the Company has
successfully operated the Section II Ungaran-
Bawen of the Semarang-Solo toll road, with a
length of 12.3 kilometers in early April 2014, the
Bogor Ring Road Toll Road Section II A linking
Kedung Halang and Kedung Badak along 1.95
kilometers at the end of May 2014. The company
has also operated the Ciledug-Ulujami section
of the JORR North W2 along 2 kilometers at
the end of July so that the toll road network
of the Jakarta Outer Ring Road has been fully
integrated. This is a significant impact of the
efforts to expedite and reduce traffic congestion
in the inner city toll road. The Company also
continues to add Toll Road concessions, where
the Company has secured the Concession Right
to develop the Medan-Kuala Namu-Tebing Tinggi
toll road with a length of 61.7 kilometers.
On the other business development, the
Company continues its efforts to increase
revenues from other business by synergizing
and maximizing the development of the assets
owned by the Company. Such efforts have
successfully lifted Other Business revenues,
both from advertising and land rent revenues,
maintenance and operation of toll roads service,
as well as the management of Rest and Service
area. In addition, in 2014 the Company has also
secured a new operating service contract to
operate the Surabaya-Madura toll bridge with a
length of 5.44 kilometers in August 2014.
• TheOperationofTollRoadsthrough
modernization of the operational activities
in order to secure revenues and continue to
improve the efficiency and quality of service to
customers.
In order to improve service provided to the toll
road customers, in 2014 the Company installed
69 additional Automatic Toll Gates, and has
officially operated electronic payment sstem by
utilizing the e-toll cards and e-money for closed
transaction system for the toll road sections of
Jakarta-Cikampek, Cipularang, Padaleunyi, and
Jagorawi. In addition, to improve the smoothness
of traffic and reduce traffic accidents, the
Company conducted the so-called sympathetic
operations on overloaded vehicles that were
passing through the toll roads. The Company’s
efforts to continuously improve operational
performance through the fulfillment of SPM and
improving services, have enabled the Company
to receive an appreciation from the government
through approving the Company’s toll tariff
adjustment in line with inflation by 13.76% for
Prof. Dr. Ir. Sedyatmo Toll Road section and by
12.95% for Jakarta-Cikampek Toll Road Section.
112 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Performance in 2014In 2014, Traffic Volume Transactions of Jagorawi
Branch totaled 201.32 million vehicles, an increase of
0.86% compared to the Traffic Volume Transactions
in 2013 amounted to 199.61 million vehicles. In
2014, the contribution of Jagorawi Branch to the
Total Traffic Volume Transactions reached 15.26%.
Meanwhile, Toll Revenues reached Rp 607.46 billion,
an increase of 10.80% compared to 2013 amounting
to Rp 548.25 billion. The toll revenues contribution
reached 9.14% of the Total Toll Revenues.
ProfitabilityIn 2014, Profit Before Income Tax of Jagorawi Branch
reached Rp 291.44 billion, an increase of 21.15% from
previous year.
Performance Analysis 2014Toll revenues of Jagorawi Branch grew by 10.80%
from previous year driven by the rise of traffic
volume transactions by 0.86%. The increase of traffic
volume transactions was due to a rise of traffic and
the growth in the number of vehicles in line with
the development of residential areas in Sentul and
Bogor, supported by economic growth of Bogor city,
which increased by 6.26%. In addition, the traffic
volume increase was also due to the operation of the
Cinere-Jagorawi Toll Road, which is connected with
the Jagorawi Toll Road since 2012.
Business ProspectsThe development of the South of Sentul (City) as a
residential, business, and tourism area, will continue
to grow. In addition, Jagorawi Toll Road will be
integrated with the Ciawi-Sukabumi toll road and
BORR toll road, (Kedung Badak-Yasmin-Dramaga)
which will have a significant impact on the increase
in traffic volume transactions.
Business Segment of Toll Road Operation
MAIN SEGMENT
1. Jagorawi Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section : Jagorawi
201319
9.61
2014
20
1.32
0.8
6%
2013
548.
25
2014
60
7.4
6
10.8
0%
Length of Toll Road : 59 km
Year Concession Expires : 2044
Year Operation Started : 1978
Number of Employees : 599 people
Number of Toll Booths : 145
V/C Ratio : 0.53-1.44
Transaction System : Closed & Open
Location of Operation : Jakarta, Bogor
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
15.26%
84.74%
9.14%
90.86%
* Net Profit/Loss before Income Tax
113PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
2. Jakarta-Cikampek Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Jakarta-Cikampek
2013
202.
21
2014
206
.13
1.9
4%
2013
976
.57
2014
1,0
23.4
3
4.8
0%
Length of Toll Road 83 km
Year Concession Expires
2044
Year Operation Started 1988
Number of Employees 730 people
Number of Toll Booths 170
V/C Ratio 0.22-1.47
Transaction System Closed & Open
Location of Operation Jakarta, Bekasi, Karawang, Cikampek
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
15.62%
84.38%
15.40%
84.60%
* Net Profit/Loss before Income Tax
traffic volume transactions by 1.94% and the toll
tariff adjustment in October 2014. The increase
of traffic volume transactions was caused by the
operation of the Cibatu toll gate in April 2014 and
an increase in traffic due to the growing number of
vehicles, which is stimulated by the development of
Bekasi, Cikarang and Karawang region.
Business ProspectsThe development of Jakarta-Cikampek as a
residential and business area will continue to grow,
such as the development Lippo Cikarang with total
area of ± 3,000 acres as a Central Business District,
Jababeka as an industrial area of Jababeka-Cikarang
Bekasi (Cikarang Dry Port) which stretches to the
port of Tanjung Priok and East Jakarta Industrial
Park (EJIP), as well as the potential additional traffic
volume transactions of the planned operation of the
Cikampek-Palimanan toll road.
Performance in 2014In 2014, Volume Traffic Branch Jakarta-Cikampek
transactions totaled 206.13 million vehicles, an
increase of 1.94% compared to the Traffic Volume
Transactions in 2013 amounted to 202.21 million
vehicles. In 2014, the contribution of the Jakarta-
Cikampek branch to the Total Traffic Volume
Transaction reached 15.62%.
Meanwhile, Toll Revenues reached Rp 1,023.43 billion,
an increase of 4.80% compared to 2013, which
amounting to Rp 976.57 billion. The toll revenues
contribution reached 15.40% of Total Toll Revenues.
ProfitabilityIn 2014, Profit Before Income Taxes of the Jakarta-
Cikampek Branch reached Rp 327.77 billion, an
increase of 12.38% from previous year.
Performance Analysis 2014Toll revenues of the Jakarta-Cikampek toll road grew
by 4.80% from a year earlier due to the growth in
114 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
3. Cawang-Tomang-Cengkareng Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Prof Dr. Ir. Sedyatmo, Jakarta Inner Ring Road
2013
283
.09
2014
282
.81
- 0
.10
%
2013
1,1
09.
96
2014
1,2
12.3
2
9.22
%
Length of Toll Road 38 km
Year Concession Expires 2044
Year Operation Started 1984 & 1987
Number of Employees 765 people
Number of Toll Booths 122
V/C Ratio 0.38-1.32
Transaction System Open
Location of Operation Jakarta, Tangerang
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
21.43%
78.57%
18.24%
81.76%
* Net Profit/Loss before Income Tax
Performance Analysis 2014The Toll Revenues of Cawang-Tomang-Cengkareng
Branch grew by 9.22% from a year earlier due to tariff
adjustment of Prof. Dr. Ir. Sedyatmo Toll Road (Airport
Toll) in September 2014.
Business ProspectsThe development of residential areas around Prof.
Dr. Ir. Sedyatmo Toll Road, which is still continuing
such as CBD area of West Jakarta, Sentral Primer
Batu Barat area, Puri Indah area and the Tangerang
area. In addition, the operation of the Ciledug-Ulujami
section of the JORR W2 North, making the Jakarta
Outer Ring Road (JORR) to be fully integrated,
a significant impact on the increase in the traffic
volume transactions.
Performance in 2014In 2014, the Traffic Volume Transaction of the
Cawang-Tomang-Cengkareng Branch totaled 282.81
million vehicles, declined by 0.1% compared to the
Traffic Volume Transactions in 2013 amounted to
283.09 million vehicles.
In 2014, the contribution of Cawang-Tomang-
Cengkareng Branch to the total Traffic Volume
Transactions reached 21.43%. Meanwhile, Toll
Revenues reached Rp 1,212.32 billion, an increase of
9.22% compared to 2013, which amounted to Rp
1,109.96 billion. The Cawang-Tomang-Cengkareng
Branch contributed toll revenues of 18.24% to the
Total Toll Revenues.
Profitability2014, Income Before Income Taxes Branch Cawang-
Tomang-Cengkareng reached Rp 855.03 billion or an
increase of 10.78% from last year.
115PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
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Glossary Consolidated Financial Statements
4. Purbaleunyi Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Padaleunyi, Cipularang
2013 2014
66
.35
63.9
1
10,6
9%
2013 2014
1,1
75.9
3
1,0
17.3
8
15.5
8%
Length of Toll Road 123 km
Year Concession Expires 2044
Year Operation Started 1990 & 2003
Number of Employees 449 people
Number of Toll Booths 92
V/C Ratio 0.13-1.06
Transaction System Closed
Location of Operation Padalarang, Cileunyi, Cikampek, Purwakarta
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
5.03%
94.97%
17.69%
82.31%
* Net Profit/Loss before Income Tax
Performance Analysis 2014Toll revenue of Purbaleunyi Branch of last year
grew by 15.58% due to the growth in traffic volume
of transactions of 10.69%. The increased of traffic
volume transactions was due to the increased of
traffic activities and the increase in the number
of vehicles from Jakarta to Bandung as a culinary
destination and tourism.
Business ProspectsNetwork development Purbaleunyi integrated Toll
Road connecting Pasteur-Cicaheum-Ujung Berung,
Cicaheum-Soekarno Hatta-Gedebage and Pasirkoja-
Soreang Toll Road, and Cileunyi-Sumedang-Dawuan
toll road will lift traffic volumes increase in the future.
Performance in 2014In 2014, the Traffic Volume Transactions of
Purbaleunyi Branch totaled 66.35 million vehicles, an
increase of 10.69% compared to the Traffic Volume
Transactions in 2013 amounted to 63.91 million
vehicles. In 2014, the contribution of Purbaleunyi
Branch to the Traffic Volume Transactions reached
5.03%. Meanwhile, Toll Revenues reached Rp 1,175.93
billion, an increase of 15.58% compared to the year
of 2013 amounting to Rp 1017.38 billion. Purbaleunyi
Branch Contributed toll revenues of 17.69% to the
Total Toll Revenues.
Profitability2014, Income Before Income Tax of Purbaleunyi
Branch reached Rp 884.13 billion, an increase of
25.14% from previous year.
116 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
5. Head Office – Jakarta Outer Ring Road (JORR)
Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section JORR, Ulujami-Pondok Aren
2013 2014
19
6.7
6
193
.64
1.61
%
2013 2014
1,1
82.4
5
1,0
55.0
2
12.0
8%
Length of Toll Road 49 km (+Ulujami)
Year Concession Expires 2044
Year Operation Started 1991 & 2001
Number of Employees 3269 people
Number of Toll Booths 152
V/C Ratio 0.38-1.28
Transaction System Open
Location of Operation Jakarta, Bekasi
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
85.09%
14.91% 17.79%
82.21%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffic Volume Transaction of the
Central toll road (Jakarta Outer Ring Road/JORR)
totaled 196.76 million vehicles, an increase of 1.61%
compared to the Traffic Volume transactions in
2013 amounted to 193.64 million vehicles. In 2014,
the contribution of Central toll road (JORR) to
total Traffic Volume Transactions reached 14.91%.
Meanwhile, Toll Revenues reached Rp 1,182.45
billion, an increase of 12.08% compared to the year
2013 amounting to Rp 1,055.02 billion. The Jakarta
Outer Ring Road (JORR) contributed toll revenues
of 17.79% to the Total Toll Revenues.
Profitability2014, Income Before Income Taxes of the Jakarta
Outer Ring Road (JORR) reached Rp 804.84 billion
or an increase of 45.25% from previous year.
Performance Analysis 2014The growth of traffic volume transactions rose
1.61% from a year ago. The increased traffic volume
transactions was caused by the growth of traffic in
the Jakarta-Cikampek toll road, primarily since JORR
(W2U, W2s, S, E1, E2, E3) had been fully integrated
in July 2014 which contributed to the increase in
traffic volume JORR toll road.
Business ProspectsBy connecting the full Jakarta Outer Ring Road
(JORR) provides easy access for users to get to
the toll road and from timurbarat Jakarta (“through
traffic”), without having to go through Urban Toll
Road Jakarta. Connections JORR highway system
as a whole will increase the volume of traffic in the
future. Development of the business district on the
left and right of toll roads, will provide additional
potential volume of traffic.
117PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
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Glossary Consolidated Financial Statements
6. Jakarta-Tangerang Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Jakarta-Tangerang
2013 2014
119
.83
113
.02
6.0
2%
2013 2014
467
.12
40
8.0
1
14.4
9%
Length of Toll Road 33 km
Year Concession Expires 2044
Year Operation Started 1984
Number of Employees 461 people
Number of Toll Booths 77
V/C Ratio 0.47-1.67
Transaction System Open
Location of Operation Jakarta, Tangerang
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
90.92%
9.08% 7.03%
92.97%
* Net Profit/Loss before Income Tax
growth in line with the property development in the
Tangerang area as well as the integration of the JORR
toll road sections (W2U, W2s, S, E1, E2, E3) in July
2014. In addition, the restriction on the operation
hour of large vehicles that pass Jalan Raya Serpong
prompted large vehicles to take the alternative
route, therefore contributing to the increase in traffic
volume of the Jakarta-Tangerang toll road.
Business ProspectsThe toll roads in Greater Jakarta area is now fully
connected. The Jakarta-Tangerang is connected with
the JORR-2, which is then linked with the Sedyatmo
toll road, Kunciran-Serpong toll road, Jagorawi and
Jakarta-Cikampek toll roads. The development of
residential areas in Karawaci and Serpong area, as
well as Jakarta as the center of business activities
will make the flow of goods and services to continue
in line with the improving business development in
Tangerang and the surrounding region. This creates
potentiality for an increase in traffic volume.
Performance in 2014In 2014, the Traffic Volume Transaction of the Jakarta-
Tangerang Branch totaled 119.83 million vehicles, an
increase of 6.02% compared to the Traffic Volume
Transactions in 2013 amounted to 113.02 million
vehicles. In 2014, the contribution of the Jakarta-
Tangerang Branch to the Total Traffic Volume
Transaction reach 9.08%. Meanwhile, Toll Revenues
reached Rp 467.12 billion, an increase of 14.49%
compared to 2013, which amounted to Rp 408.01
billion. The Jakarta-Tangerang Branch contributed toll
revenues of 7.03% to the Total Toll Revenues.
ProfitabilityIn 2014, Profit Before Income Tax of the Jakarta-
Tangerang Branch reached Rp 222.95 billion, an
increase of 9.79% from a year earlier.
Performance Analysis 2014The growth of traffic volume transactions rose by
6.02% from previous year. The increase of traffic
volume transactions was driven by the regional
118 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
OTHER SEGMENT
1. Cabang Surabaya-Gempol Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Surabaya-Gempol
2013 2014
82.
87
81.
69
1.4
5%
2013 2014
30
9,0
2
270
,47
14.2
6%
Length of Toll Road 49 km
Year Concession Expires 2044
Year Operation Started 1986
Number of Employees 506 people
Number of Toll Booths 68
V/C Ratio 0.37-0.98
Transaction System Open & Closed
Location of Operation Surabaya, Gempol
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
6.28%
93.72%
4.65%
95.35%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, The Traffict Volume Transactions of the
Surabaya-Gempol Branch totaled 82.87 million
vehicles, an increase of 1.45% compared to the
Traffic Volume Transactions in 2013 amounted to
81.69 million vehicles. In 2014, the Surabaya-Gempol
Branch contributed 6.28% to the Total Traffic Volume
Transactions. Meanwhile, Toll Revenues reached
Rp 309.02 billion, an increase of 14.26% from 2013,
which amounted to Rp 270.47 billion. The Surabaya-
Gempol Branch Toll Revenues contributed 4.65% to
the Total Toll Revenues.
ProfitabilityIn 2014, the Profit Before Income Taxes of the
Surabaya-Gempol Branch reached Rp 186.81 billion,
an increase of 85.17% from previous year.
Performance Analysis 2014Toll revenues of the Surabaya-Gempol Branch grew
by 14.26% from previous year due to the growth in
traffic volume transactions of 1.45%. The increase
of traffic volume transactions was attributable to
the development of the area around the Surabaya-
Gempol Toll Road and the increased capacity of the
Dupak toll gate in September 2014 as well as the
opening of Porong arterial roads which raises the
volume of traffic to Surabaya and reverse direction.
Business ProspectsThere is potential growth of traffic volume
transactions with the operation of the Kejapanan-
Gempol toll road, expected to begin operation in
2015, as a substitute of the Porong-Gempol toll road,
which was affected by the mudflow, which will be
built in stages. The first phase is the operation of
Kejapanan-Gempol toll road, then to be followed by
Porong-Kejapanan Toll road in the following period.
119PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
2. Semarang Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Semarang
2013 2014
48.
12
48.
86
-1.5
1%
2013 2014
10
6.5
0
10
4.7
7
1.6
5%
Length of Toll Road 25 km
Year Concession Expires 2044
Year Operation Started 1983
Number of Employees 196 people
Number of Toll Booths 28
V/C Ratio 0.22-0.72
Transaction System Open
Location of Operation Semarang
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
3.65%
96.35%
1.60%
98.40%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffict Volume Transactions of the
Semarang Branch totaled 48.12 million vehicles,
down -1.51% compared to the Traffic Volume
Transactions in 2013 amounted to 48.86 million
vehicles. In 2014, the Semarang Branch contributed
3.65% to the Total Traffic Volume Transactions.
Meanwhile, Toll Revenues reached Rp 106.50 billion,
an increase of 1.65% from 2013, which amounted
to Rp 104.77 billion. The Semarang Branch Toll
Revenues contributed 1.60% to the Total Toll
Revenues.
ProfitabilityIn 2014, Profit Before Income Taxes of the Semarang
Branch reached Rp 28.54 billion or an increase of
12.43% from previous year
Performance Analysis 2014Toll revenues of the Semarang Branch rose 1.65%
from a year earlier due to increased traffic activity,
and the operation of rhw Ungaran-Bawen toll road
section in early April 2014.
Business ProspectsThe connectivity of Semarang-Solo toll road is
expected to have an impact on the increase in
traffic volume transactions. The construction of
the toll road is carried out gradually. Currently, the
Semarang-Bawen section has been built, and then
will be followed by the construction of Bawen-Solo
toll road section.
120 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
3. Belmera Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Belmera
2013 2014
25.
39
24
.05
5.56
%
2013 2014
91.
35
81.
57
11.9
9%
Length of Toll Road 43 km
Year Concession Expires 2044
Year Operation Started 1986
Number of Employees 208 people
Number of Toll Booths 55
V/C Ratio 0.15-0.43
Transaction System Closed
Location of Operation Belawan, Medan, Tanjung Morawa
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
1.92%
98.08%
1.37%
98.63%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffict Volume Transactions of the
Belmera Branch totaled 25.39 million vehicles, an
increase of 5.56% compared to the Traffic Volume
Transactions in 2013 amounted to 24.05 million
vehicles. In 2014, the Belmera Branch contributed
1.92% to the Total Traffic Volume Transactions.
Meanwhile, Toll Revenues reached Rp 91.35 billion,
an increase of 11.99% from 2013, which amounted to
Rp 81.57 billion. The Belmera Branch Toll Revenues
contributed 1.37% to the Total Toll Revenues.
ProfitabilityIn 2014, Profit before Income Tax of the Belmera
Branch reached Rp 7.51 billion, down by 32.28% from
previous year.
Performance Analysis 2014Toll revenues of Belmera Branch grew by 11.99% from
previous year due to the growth in traffic volume
transactions of 5.56%. The increase in traffic volume
transactions is attributable to the development of
MedanIndustrialZone(KawasanIndustriMedan/
KIM), the operation of Kualanamu Airport and the
rise in traffic volume transaction to outside of Medan
city (to Tebing Tinggi) as a transit city of trans
Sumatra.
Business ProspectsThere is potential growth of traffic volume of
Belmera Toll Road following the operation of Medan-
Kualanamu-Tebing Tinggi toll road, which connects
with Kualanamu Airport, as well as the development
of industrial area of Kuala Tanjung-Sei Mangkei,
which offers growth potential in term of traffic
volume transactions.
121PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
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Glossary Consolidated Financial Statements
4. Palikanci Branch Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section Palimanan - Kanci
2013 2014
19.
93
20
.19
-1.2
7%
2013 2014
112
.44
10
7.4
9
4.6
0%
Length of Toll Road 26 km
Year Concession Expires 2044
Year Operation Started 1998
Number of Employees 161 people
Number of Toll Booths 24
V/C Ratio 0.28-0.33
Transaction System Open
Location of Operation Cirebon
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
1.51%
98.49%
1.69%
98.31%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffic Volume Transactions of the
Palikanci Branch totaled 19.93 million vehicles,
down -1.27% compared to the Traffic Volume
Transactions in 2013 amounted to 20.19 million
vehicles. In 2014, the Palikanci Branch contributed
1.51% to the Total Traffic Volume Transactions.
Meanwhile, Toll Revenues reached Rp 112.44 billion,
an increase of 4.60% from 2013, which amounted to
Rp 107.49 billion. The Palikanci Branch Toll Revenues
contributed 1.69% to the Total Toll Revenues.
Profitability 2014Loss Before Income Tax of the Palikanci Branch
reached Rp 6.31 billion or an increase of 124.49%
from a year earlier.
Performance Analysis 2014Toll revenues of Palikanci Branch increased by 4.60%
from a year earlier due to tariff increase in 2013,
which began to have an impact in 2014.
Business ProspectsThe potential growth of traffic volume of the
Palikanci Toll Road is the connectivity of the Trans
Java toll road network, following the construction of
the Cikampek-Palimanan toll road that will connect
Jakarta-Cikampek and Palimanan-Kanci toll roads.
122 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
5. PT Marga sarana Jabar Traffic volume(million vehicle transactions)
Toll Revenues(Rp billion)
Ruas: Bogor Outer Ring Road
2013 2014
13.
68
12.
52
9.25
%
2013 2014
67.
17
45.
55
47.
46
%
Panjang Jalan: 4 km (section I)
Konsesi s.d. Tahun: 2054
Tahun Beroperasi: 2009
Jumlah Pegawai: 44 people
Jumlah Gardu: 10
V/C Rasio: 0.31-0.35
Sistem Transaksi: Open
Lokasi Pengoperasian: Bogor
Proportion of Transaction Traffic volume
Proportion of Toll Revenues
98.96%
1.04%
98.99%
1.01%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffic Volume Transaction of BORR
segment stood at 13.68 million vehicles, an
increase of 9.25% compared to the Traffic Volume
Transactions in 2013 amounted to 12.52 million
vehicles. In 2014, the BORR toll road contributed
1.04% to the Total Traffic Volume Transactions.
Meanwhile, Toll Revenues reached Rp 67.17 billion, an
increase of 47.46% from 2013, which amounted to Rp
45.55 billion. The BORR Toll Revenues contributed
1.01% to the Total Toll Revenues.
ProfitabilityIn 2014, Loss Before Income Taxes of PT Marga
Sarana Jabar reached Rp 23.59 billion or an increase
of 740.80% from a year earlier.
Performance Analysis 2014Toll revenues of BORR segment grew by 47.46%
from previous year due to the 9.25% increase in
traffic volume transactions. The rise of traffic volume
transactions is driven by a rapid economic growth in
Bogor region, especially Sentul as a residential area.
Business ProspectsThe development of Bogor Outer Ring Road (BORR)
toll road network which is connected with Inter
Ring Road will provide a significant impact on the
increase in traffic volume transactions.
123PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
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Glossary Consolidated Financial Statements
6. PT Marga Nujyasumo Agung Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section: Surabaya - Mojokerto
2013 2014
12.0
5
11.2
6
7.0
4%
2013 2014
18.7
8
17.5
5
7.0
1%
Length of Toll Road: 2 km (Section 1A)
Year Concession Expires: 2049
Year Operation Started: 2011
Number of Employees: 64 people
Number of Toll Booths: 9
V/C Ratio: 0.23-0.37
Transaction System: Open
Location of Operation: Waru
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffic Volume Transactions of the
Surabaya-Mojokerto Toll Road totaled 12.04 million
vehicles, an increase of 7.04% compared to the
Traffic Volume Transactions in 2013 amounted
to 11.26 million vehicles. In 2014, the Surabaya-
Mojokerto Branch contributed 0.91% to the Total
Traffic Volume Transactions. Meanwhile, Toll
Revenues reached Rp 18.78 billion, an increase of
7.01% from 2013, which amounted to Rp 17.55 billion.
The Surabaya-Mojokerto Branch Toll Revenues
contributed 0.28% to the Total Toll Revenues.
ProfitabilityIn 2014, Profit Before Income Taxes of PT PT Marga
Nujyasumo Agung reached Rp 43.79 billion or an
increase of 2.34% from a year earlier.
Performance Analysis 2014Toll revenues of the Surabaya-Mojokerto toll road
Section 1A Waru-Sepanjang grew by 7.01% from
a year earlier due to an increase in traffic volume
transactions by 7.04%. The increase in traffic
volume transactions is driven by an increased of
economic activities in the region and surrounding
the toll road area.
Business ProspectsThe Surabaya-Mojokerto toll road segment will
potentially increase traffic volume transactions
with the operation of Surabaya-Mojokerto toll road,
Section 4 Krian-Mojokerto along 18.5 km. In addition,
the volume of traffic on arterial roads that linking
Krian-Surabaya-Mojokerto is already quite dense, so
the potential use of toll road as an alternative route
will be high.
99.09%
0.91%
99.72%
0.28%
124 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
7. PT Trans Marga Jateng Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section: Semarang - Solo
2013 2014
15.5
6
6.5
8
136
.57%
2013 2014
107,
25
36.4
9
193.
95%
Length of Toll Road: 22.95 km (section I & section II)
Year Concession Expires: 2055
Year Operation Started: 2011
Number of Employees: 164 people
Number of Toll Booths: 20
V/C Ratio: 0.26-0.42
Transaction System: Closed
Location of Operation: Semarang
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
98.82%
1.18%
98.45%
1.61%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffic Volume Transactions of the
Semarang-Ungaran Toll Road section totaled 15.56
million vehicles, an increase of 136.57% compared to
the Traffic Volume Transactions in 2013 amounted to
6.58 million vehicles. In 2014, the Semarang-Ungaran
toll road section contributed 1.18% to the Total Traffic
Volume Transactions. Meanwhile, Toll Revenues
reached Rp 107.25 billion, an increase of 193.95%
from 2013, which amounted to Rp 36.49 billion. The
Semarang-Solo Section I Toll Revenues contributed
1.61% to the Total Toll Revenues.
ProfitabilityIn 2014, Profit Before Income Taxes of PT Trans
Marga Jateng reached Rp 212.23 billion or an
increase of 38.03% from a year earlier.
Performance Analysis 2014Toll revenues of PT Trans Marga Jateng grew by
193.95% from previous year due to the growth in
traffic volume transactions of 136.57%. The increased
in traffic volume transactions was due to an increase
in economic activity in the Semarang-Ungaran toll
road area and the rise of the movement of goods
and services to the city of Solo.
Business ProspectsThe connectivity of Semarang-Solo toll road will
have an impact on the increase in traffic volume
transactions. The construction of the toll road is
carried out gradually, and currently Semarang-
Bawen section has been developed, which will be
followed by the construction of Bawen-Solo section.
The construction of Semarang-Solo toll road is
part of the construction of the Trans Java toll road
network which is a business route which will connect
two major cities, namely Jakarta and Surabaya.
125PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
8. PT Jasamarga Bali Tol Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section: Nusa Dua-Ngurah Rai-Benoa
2013
3.2
9
2014
14
.31
335.
54%
2013
23.6
5
2014
106
.14
348.
78%
Length of Toll Road: 10 km
Year Concession Expires: 2057
Year Operation Started: 2013
Number of Employees: 24 people
Number of Toll Booths: 20
V/C Ratio: 0.25-0.38
Transaction System: Open
Location of Operation: Bali
Proportion of Transaction Traffic Volume
Proportion of Toll Revenues
98.92%
1.08%
98.40%
1.60%
* Net Profit/Loss before Income Tax
Performance in 2014In 2014, the Traffic Volume Transactions of the Nusa
Dua-Ngurah Rai-Benoa Toll Road section totaled
14.31 million vehicles. In 2014, the Nusa Dua-Ngurah
Rai-Benoa toll road section contributed 1.08% to
the Total Traffic Volume Transactions. Meanwhile,
Toll Revenues reached Rp 106.14 billion, reflecting
revenues contribution of 1.61% to the Total Toll
Revenues.
Profitability In 2014, Profit Before Income Taxes of PT Jasamarga
Bali Tol reached Rp 101.04 billion, an increase of
403.06% from a year earlier.
Performance Analysis 2014Toll revenues of PT Jasamarga Bali grew 348.78%
from previous year because in 2014 the Nusa Dua-
Benoa-Ngurah toll road started its full operation
following soft operation in October 2013. The
increase was also due to a rise of toll road users
who are driving to the Nusa Dua and Benoa
Harbour area.
Business ProspectsThe development of Benoa Bay area which will be
transformed into a “Marina Bay”, an area that is
being directed for the development of hospitality
and international cruise ship port in Bali, will be a
trigger for an increase in traffic volume transactions
of the Nusa Dua-Benoa-Ngurah Rai Toll Road.
126 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
9. PT Marga Lingkar Jakarta Traffic Volume(million vehicle transactions)
Toll Revenues(Rp billion)
Section: JORR W2 North (Kb Jeruk – Ulujami)
2013 2014
14.4
9
2013 2014
59.
04
Length of Toll Road: 7.87 km (Section I)
Year Concession Expires: 2057
Year Operation Started: 2014
Number of Employees: 25 people
Number of Toll Booths: 18
V/C Ratio: 0.26 - 0.40
Transaction System: Open
Location of Operation: JORR
Proportion of Transaction Traffic Volume Proportion of Toll Revenues
98.90%
1.10%
99.11%
0.89%
* Net Profit/Loss before Income Tax
Performance Analysis for 2014The Traffic volume transactions reached 14.49 million
vehicles and contributed to the toll revenues of Rp
59.04 billion.
Business ProspectsThe connectivity of the Jakarta Outer Ring Road and
the inner city toll road, which are now fully integrated,
will have an impact on the increase in traffic volume
transaction of Kebon Jeruk-Ulujami toll road as a
bridging toll road connecting the above toll roads with
Soekarno-Hatta Airport, Port of Tanjung Priok and
Tangerang area.
Performance in 2014In 2014, the Traffic Volume Transactions of PT Marga
Lingkar Jakarta totaled 14.31 million vehicles. The
JORR W2 North toll road section contributed 1.10%
to the Total Traffic Volume Transactions. Meanwhile,
Toll Revenues reached Rp 59.04 billion, reflecting
revenues contribution of 0.89% to the Total Toll
Revenues.
ProfitabilityIn 2014, Loss Before Income Tax of PT Marga Lingkar
Jakarta reached Rp 111.72 attributable to interest and
depreciation following the operation of the toll road.
127PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
From the operation of the toll roads by Jasa Marga and its subsidiaries in 2014, the Company recorded traffic volume transactions of 1,319.60 million vehicles, an increase of 4.41% from a year earlier. In order to meet the needs of consumers on the back of increasing traffic volumes, the Company improved its services by operating as many as 293 Automated Toll Gates (GTO) and 717 regular toll gates that are operated so that the total gates that are in operation in 2014 reached 1,010 toll gates.
In line with the continuoud increase of the volume of vehicle traffic passing through the toll road, in 2014 the Company also expanded its road capacity as well as raising the transaction services capacity. The increase of transaction services capacity is carried out by adding as many as 69 GTO substations and widening toll gates at a number of branches, namely Jagorawi, Jakarta, Cikampek, Semarang, Surabaya-Gempol and PT Jalantol Lingkarluar Jakarta.
Looking ahead, in terms of adding tollgates, Jasa Marga prioritizes the installation of Automatic Toll Gates (GTO). The policy is done as a form of Jasa Marga’s commitment to continuously improve service and modernization of payment systems at toll gates. In the meantime, the use of e-Toll Card transactions reached 122.08 million transactions, representing an increase of 20.44% from previous year.
In order to improve services in the form of delivery/provision of toll road condition information for road users on toll roads operated by Jasa Marga, the Company deploys more supporting multiple devices for information services for road users such as VMS (Variable Message Sign), CCTV (Closed Circuit Television), and RTMS (Remote Traffic Microwave Sensor).
The Company also improved its services by undertaking various efforts to improve the comfort and safety of toll road users. In 2014, the Company conducted a number of activities including driving safety campaign, acting firmly on overload vehicles and participating in safety and traffic smoothness program in cooperation with the local Police. These efforts have successfully reduced the number of accidents by 0.47% from previous year.
The commitment to continuously improve services is carried out by meeting the Minimum Service Standards (SPM), which have led to an approval of tariff adjustments for 2 (two) toll road sections namely Prof. Dr. Ir. Sedyatmo and Jakarta-Cikampek toll roads. In the middle of increasingly densed traffic levels, where traffic volume is higher than the capacity of existing roads, especially in the Greater Jakarta area, the Company continues to undertake management and traffic engineering to maintain the minimum service standard for minimum travel time of average 1.6 times (for inner city toll road) and 1.8 times (toll roads outside the town) from non-toll roads.
EXECUTIVE SUMMARy OF OPERATION DIRECTOR HASANUDIN
128 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Providing Services All the wayEntering Toll Road On Toll Road
E-TOLLCARD
Automated Toll Booth
TRAFFICINFORMATI0N
REST AREA
Variable Message Sign
CCTV
129PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Providing Services All the wayOn Toll Road Exiting Toll Road
Patrol
Officer
REST AREA
Ambulance
Shorter and
more convenient
travel time
Towing
Service
130 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Business Segment of Non-Toll Road Business Development Business Segment of the Non-Toll Business Development is a segment that is focused on the optimization
of the Company’s assets both tangible and intangible. The results of Non Toll Business Development in the
Consolidated Financial Statements for Fiscal Year 2014 is presented as Other Operating Income, in which the
Other Operating Income reached Rp 583.10 billion. The biggest gain is recorded in the Toll Road Operation
Services for Other Parties, which increased by 210.44% compared the achievement recorded in 2013. The
largest component in Other Operating Income in 2014 came from Others, amounting to Rp 193.12 billion.
The performance improvement in the Non Toll business development segment of the Company is an effort
by the Company to continue to optimize all forms of the Company’s assets both tangible and intangible in
order to support the Company’s revenues, namely Toll Revenues. Currently, the Other Operating Income
contributed 6.36% to the Total Operating Revenues of the Company. With the establishment of several
subsidiaries that engage in non-toll businesses, the Company will continue to maximize the utilization of
assets that will ultimately contribute to the Company’s Revenues. Following is a review of the performance
of the Non Toll Business Development segment in tables and graphs.
Business Segment of Non-Toll Business Develoment
(in billion Rp)
No. Segment 2013 2014 Δ (Rp) Δ%% to Total Operating Revenues
1. Fuel (BBM) sales 153.07 178.71 25.64 16.75 1.95%
2. Land lease 90.06 104.36 14.30 15.88 1.14%
3. Operating servive of toll roads owned by other parties
32.41 100.60 68.19 210.44 1.10%
4. Advertising Revenues 6.72 6.31 (0.41) (6.12) 0.07%
5. Others 225.94 193.12 (32.82) (14.52) 2.10%
TOTAL 508.20 583.10 74.90 14.74 6.36%
Business Segment of Non-Toll Business Develoment
90
.06
104
.36
153
.07
178.
71 225
.94
193.
12
32.
41 10
0.6
0
Land Lease Operating toll roads owned by
other parties
Fuel sale OthersAdvertising Revenues
6.7
2
6.3
1
20142013
In accordance with the Audited Consolidated Financial Statements of PT Jasa Marga (Persero) Tbk for
2014 Fiscal Year,
131PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Non Toll Business Development segment of the
Company is divided into:
a. Fuel salesFuel sales are revenues generated from the
fuel sales at fuel filling stations (SPBU) located
at Purbaleunyi KM 88 Rest and Service Area
and at KM 226 of the Palikanci toll road. Fuel
Sales contributed 1.95% of the Total Operating
Revenues.
b. Land Rental (Rest Area)In 2014, Land Rental Income increased by
15.88% from 2013. Revenues from Land Rental
of the year reached Rp 104.36 billion.
The increase in performance in 2014 was due
to the increase in rental rates at Rest Area
managed by the Company. In addition, the
opening of new land area to be leased to
other parties also increased the Company’s
performance in 2014.
c. Toll Road Operation Services for Other PartiesRevenues from Toll Road Operation Services
for Other Parties in 2014 reached Rp 100.60
billion, an increase of 210.44% compared to
2013, which amounted to Rp 32.41 billion.
d. Advertising Revenues Advertising revenues for 2014 reached
Rp 6.31 billion and contributed 0.07% to the
total Operating Revenues.
1.14%
98.86%
1.10%
98.90%
1.95%
98.05%
0.07%
99.93%
Land Rental (Rest Area)
Toll Road Operation Services for Other Parties
Advertising Revenues
Fuel sales
2013
2013
2013
2013
2014
2014
2014
2014
32.
41
90
.06
6
.72
153
.07
100
.60
104
.36
6.3
117
8.71
132 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
e. Others
• PT Jasa Layanan PemeliharaanThe performance of PT Jasa Layanan
Pemeliharaan, as a subsidiary company
engaging in construction, trade and rental
vehicles was encouraging. In 2014, the
revenues achievement reached Rp 182.95
billion and contributed 31.38% to the Total
Non-Toll Revenues.
• PT Jasamarga PropertiPT Jasamarga properti, as a company’s
subsidiary engaging in property, trade and
property-related services posted revenues
of Rp 1.71 billion in 2014 and contributed
0.29% to the Total Non-Toll Revenues.
2.10%
97.90%
Others
2013 2014
225
.94
193.
12
133PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Comprehensive Analysis of Financial PerformanceDiscussion and analysis related to the following financial review is presented based on consolidated
financial statements for the year ended December 31, 2014 and 2013. The consolidated financial
statements have been audited by Aryanto, Amir Jusuf, Mawar Saptoto (RSM AAJ Associates) through the
Audit Report No. R/018.AGA/sat.3/2015 dated January 28, 2015 and has received an unqualified opinion.
The Company’s consolidated financial statements prepared and presented in accordance with
Statement of Financial Accounting Standards (“PSAK”) in Indonesia, which is set by the Indonesian
Institute of Accountants and in accordance with the Decision of the Chairman of the Capital Market
Supervisory Agency and Financial Institution (Bapepam-LK) No. VIII.G.7 Attachment Decree No. KEP-
347 / BL / 2012 dated June 25, 2012 regarding Presentation and Disclosure of Financial Statements for
Public Listed Company.
REPORT OF CONSOLIDATED FINANCIAL STATEMENTS POSITIONConsolidated Financial Position of the Company in 2014 showed an improved performance. This year, the
assets of the Company amounted to Rp 31.86 trillion or grew by 13.54% compared to 2013. This growth
is due to the attainment of new Toll Road Concession Rights, as the Company’s efforts to continue to
develop the business. On the other hand, these conditions cause the liabilities of the Company to increase
by 16.76% compared to the previous year because the Company received additional loans to support the
construction of the new toll road. While, the Company’s equity increased by 8.21% from a year earlier as a
reflection that the Company remains committed to maintaining profitability amid the expansion efforts.
28,2
16.5
8
31,8
57.9
5
24,2
70.2
8
28,0
58.5
8
20142013
Total AssetNon Current AssetCurrent Asset
3,6
41.
37
3,78
8.30
AssetsAssets in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Current Assets 3,788.30 3,641.37 (146.93) (3.88)Non-Current Assets 24,270.28 28,216.58 3,946.30 16.26 TOTAL ASSETS 28,058.58 31,857.95 3,799.37 13.54
DefinitionAssets are resources that are controlled by a Company as as a result of past events and from which the company can expect to obtain economic gains in the future.
Standard Used•PSAKNo.1PresentationofFinancialStatements•PSAKNo.7DisclosureofPartieswhoHaveSpecialRelations•PSAKNo.15AccountingforInvestmentsinAssociatedFirms•PSAKNo.16PropertyandEquipment•PSAKNo.19IntangibleAssets•PSAKNo.22BusinessCombinations•PSAKNo.48DepreciationofAssets•PSAKNo.50FinancialInstruments:Presentation
Total assets of the Company reached Rp 31.86 trillion in 2014, an increase of Rp 3.80 trillion or 13.54%
compared to 2013. The increase is due to the addition of the toll roads that are still in construction phase, as
well as new toll roads that are already in operation.
*) Restated
134 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Current AssetsCurrent Assets in 2014 Compared to 2013
(in billion Rp)
Uraian 2013* 2014 Δ Rp Δ %
Cash and Cash Equivalent 3,514.06 3,290.78 (223.28) (6.35)
Short Term Investment 6.63 7.14 0.52 7.78
Other Receivables – Current 177.20 148.83 (28.37) (16.01)
Costs Paid in Advance 25.77 71.98 46.21 179.35
Prepaid Tax 64.65 122.63 57.98 89.69
Total Current Assets 3,788.30 3,641.37 (146.93) (3.88)
DefinitionCurrent assets are assets that meet the classification, expected to be realized or is held for sale or used within the normal operating cycle of the company; or, owned for trading or for used in short-term goals and is expected to be realized within a period of twelve months after the reporting date; or in the form of cash or cash equivalent, where its utilization is not restricted.
Standard Used•PSAKNo.1PresentationofFinancialStatements•PSAKNo.7DisclosureofPartiesthatHaveSpecialRelationship•PSAKNo.15AccountingforInvestmentsinAssociates•PSAKNo.22BusinessCombinations•PSAKNo.48DepreciationofAssets•PSAKNo.50FinancialInstruments:Presentation•OtherPSAKandISAKthatarerelevant
20142013
Cash and Cash Equivalent
Short Term Investment
Other Receivables – Current
Costs Paid in Advance
Prepaid Tax
3.51
4,0
6
3,29
0.7
8
6.6
3
177.
20
25.7
7
64
.65
7.14
148.
83
71.9
8 122.
63
3,51
4.0
6
The overall Current Assets of the Company decreased by 3.88% from Rp 3.79 trillion in 2013 to Rp 3.64
trillion in 2014. The decrease was caused by an increase in the equity contribution to Subsidiaries, payment
of bank loan and bonds payable.
Cash and Cash EquivalentsCash and Cash Equivalents in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Cash and Cash Equivalents 3,514.06 3,290.78 (223.28) (6.35)
DefinitionCash and cash equivalents refer to Cash in rupiah, currency, and checque accounts. While Cash equivalents include short-term deposits in which the period is equal to or less than 3 (three) months from the date of placement and no collateral and are not restricted.
2013 2014
3,51
4.0
6
3,29
0.7
8 Standard Used•PSAKNo.2CashFlowStatement•PSAKNo.50:FinancialInstruments:Presentation•PSAKNo.55:FinancialInstruments:Recognitionand
Measurement•PSAKNo.60:FinancialInstruments:Disclosures•OtherPSAKandISAKthatarerelevant
Cash and Cash Equivalents of the Company fell 6.35% from the previous year of Rp 3.51 trillion to Rp 3.29
trillion in 2014. The decrease is due to the capital injection into Subsidiaries to accelerate the completion
of the construction of a new toll road that is being undertaken by the Company and for the payment of
bank debts. A more detailed explanation can be seen in the Report Note No. 4 pages 41-42 of the Audited
Financial Statements for 2014 financial year.
*) Restated
135PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Short Term InvestmentComposition of Short Term Investment in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Short Term Investment 6.63 7.14 0.52 7.78
2013 2014
6.6
3
7.14
DefinitionShort-term investments are investments in deposits and marketable securities with a maturity of up to one year.
Standard Used•PSAKNo.23:Revenues•PSAKNo.50:FinancialInstruments:Presentation•PSAKNo.60:FinancialInstruments:Disclosures•PSAKNo.55:FinancialInstruments:RecognitionandMeasurement•OtherPSAKandISAKthatarerelevant
In 2014, short-term investments amounted to Rp 7.14 billion, an increase of 7.78% from 2013 to reach Rp 6.63
billion. This increase is due to additional investment in deposits. More detailed explanation, please see in the
Report Note No. 5 page 43 of the Audited Financial Statements for 2014 fiscal year.
Other Receivables – CurrentComposition of Other Receivables – Current, in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Receivables – Current 177.20 148.83 (28.37) (16.01)
2013 2014
177.
20
148.
83
DefinitionOther receivables – Current, are revenues to be received from land lease, rent of place for rest and service area, rental of advertising space and interest received from time deposits to be obtained by the Company in the short term, or less than 1 year.
Standard Used• PSAKNo.50:FinancialInstruments:Presentation• PSAKNo.55:FinancialInstruments:Recognitionand
Measurement• PSAKNo.60:FinancialInstruments:Disclosures• OtherPSAKandISAKthatarerelevant
In 2014, Other Receivables-Current reached Rp 148.83 billion, down 16.01% from 2013. Other receivables--
Current has decreased due to the decline in employee receivable and other receivables with a nominal under
Rp 1 billion. More detailed explanation can be seen in the Report Note No. 6 page 43 of the Audited Financial
Statements of the 2014 fiscal year.
*) Restated
136 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Prepaid CostsComposition of Prepaid Costs Payment in 2014 compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Prepaid Costs 25.77 71.98 46.21 179.35
2013 2014
25.7
7
71.9
8
DefinitionPrepaid expenses are payments that are done upfront for goods to be received, or the benefits will be used, within twelve months after the reporting date. Prepaid expenses are charged to the income statement in accordance with the future benefits.
Standard Used• FrameworkforthePreparationandPresentationof
Financial Statements• OtherPSAKandISAKthatarerelevant.
Prepaid Costs increased by 179.35% from Rp 25.77 billion in 2013 to Rp 71.98 billion in 2014. The increase in
Prepaid Costs is partly due to an increase of advance payments for goods and services within the Company.
More detailed explanation, please see Report Note No. 7 page 45 of the Audited Financial Statements for
2014 fiscal year.
Prepaid TaxComposition of Prepaid Tax in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Prepaid Tax 64.65 122.63 57.98 89.69
2013 2014
64
.65
122.
63
DefinitionPrepaid taxes are taxes that will be weighted in calculating the tax liabilities.
Standard Used• PSAKNo.46:IncomeTax• FrameworkforthePreparationandPresentationof
Financial Statements• OtherPSAKandISAKthatarerelevant
Prepaid Taxes rose 89.69% from Rp 64.65 billion in 2013 to Rp 122.63 billion in 2014. The increase of Prepaid
Taxes is due to an increase in income tax liabilities of the Company over Income tax (PPh 28.a in 2013. More
detailed explanation can be found in the Report Note No. 8 page 45 of the Audited Financial Statements for
2014 fiscal year.
*) Restated
137PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Non-Current AssetComposition of Non Current Assets in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Receivables – Non Current 19.75 - (19.75) (100.00)
Appropriated Funds 459.32 816.90 357.59 77.85
Investment in Associates 179.24 171.35 (7.89) (4.40)
Other Financial Assets 244.61 244.61 - -
Fixed Assets 591.31 701.73 110.42 18.67
Toll Road Concession Rights – Net 21,962.12 23,935.41 1,973.29 8.98
Other 641.12 2,183.17 1,542.05 240.52
Goodwill 41.85 41.85 - -
Other Assets 130.97 121.56 (9.40) (7.18)
Total Non-Current Asset 24,270.28 28,216.58 3,946.30 16.26
DefinitionNon-current assets are assets that do not meet the criteria of current, for example, fixed assets or intangible assets.
Standard Used•PSAKNo.1onPresentationofFinancialStatements•PSAKNo.16onPropertyandEquipment•PSAKNo.19onIntangibleAssets•PSAKNo.48onAssetDepreciation•PSAKNo.22onBusinessCombinations•PSAKNo.50onFinancialInstruments:Presentation•OtherPSAKandISAKthatarerelevant
3.51
4,0
6 23,9
35.4
1
21,9
62.
12
20142013
641.12
2,183.17
41.85 41.,85 130.97
121.56 835.92 459.32 179.24 19.75 946.33
816.90
171.35-
Toll R
oad Concessi
on
Rights – N
et
Other Rece
ivables –
Non Current
Appropria
ted Funds
Investment in
Asso
ciates
Other Asse
tsOther
Goodwill
Other Financial A
ssets
Fixed A
ssets
In 2014, Non-Current Assets reached Rp 28.22 trillion, or an increase of 16.26% from 2013. This increase is
mainly due to the growth of Intangible Assets in the form of Toll Road Concession Rights, which reached
Rp 23.94 trillion in 2014.
*) Restated
138 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Other Receivables – Non CurrentComposition of Other Receivables – Non Current in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Receivables- Non Current 19.75 - (19.75) (100)
2013 2014
19.7
5
—
DefinitionOther Receivables–Non-current, are revenues to be received from land lease, rent of rest area, rent of advertising space and interest to be obtained from time deposits to be received by the Company in the long term or more than 1 year.
Standard Used• PSAKNo.50:FinancialInstruments:Presentation• PSAKNo.55:FinancialInstruments:Recognitionand
measurement• PSAKNo.60:FinancialInstruments:Disclosures• OtherPSAKandISAKthatarerelevant
In 2014, Other Receivables - Non-current, declined by 100% in 2014 from 2013 as receivables have been
switched/classified to Other Current Receivables according to the time period of less than one year. More
detailed explanation can be found in the Report Note No. 6 page 44 of the Audited Financial Statements of
the 2014 fiscal year.
Appropriated FundsComposition of Appropriated Funds in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Appropriated Funds 459.32 816.90 357.59 77.85
2013 2014
459
.32
816
.90 Definition
Appropriated funds are sinking funds that are set aside as guarantee payment of bonds and bank loans.
Standard Used• Thebasicframeworkofthepreparationandpresentationof
financial statements.• OtherPSAKandISAKthatotherrelevant.
In 2014, the amount of Appropriated Funds reached Rp 816.90 billion, up 77.85% from a year earlier. The
increase was due to the increase in Land Acquisition and Guarantee for Bank Syndicated Loan. There are
also special accounts related to revenues received from the operation of JORR Section S after deducting
the operating expenses, including amortization, and maintenance, which are separated and put in a special
account in accordance with the Decree of the Minister of Public Works No. 80.1/KPTS/M/2013 dated
February 25, 2013. More detailed explanation can be found in the Note Report No. 9 page 48 of the Audited
Financial Statements of fiscal year 2014.
*) Restated
139PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Investment in AssociatesComposition of Investment in Associates in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Investment in Associates 179.24 171.35 (7.89) (4.40)
2013 2014
179.
24
171.
35DefinitionInvestments in associates are investments in the form of shares in another entity (investee) where the investor has significant influence over the investee.
Standard Used• PSAKNo.15:InvestmentsinAssociatesandJointVentures•PSAKNo.67:DisclosureofInterestsinOtherEntities•OtherPSAKandISAKthatarerelevant
In 2014, Investments in Associate companies declined to Rp 171.35 billion, down 4.40% compared to
2013. The Company has investments in associates that are considered as equity in those Associates.
Investments in Associates has decreased as portion of the Net Profit (Loss) on Subsidiaries, PT Ismawa
Trimitra and PT Trans Lingkar Kita Jaya. The carrying value of the investment can be found in more detail
in the Report Note No. 10 pages 49-52 of the Audited Financial Statements of the 2014 financial year.
Other Financial AssetsComposition of Other Financial Assets in 2014 compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Financial Assets 244.61 244.61 - -
2013 2014
244
.61
244
.61
DefinitionOther Financial Assets in the form of equity investments which are classified as financial assets available for sale that are recorded as acquisition costs.
Standard Used• PSAKNo.50:FinancialInstruments-Presentation• PSAKNo.55:FinancialInstruments-Recognitionand
Measurement• PSAKNo.60:FinancialInstruments-Disclosures• OtherPSAKandISAKthatarerelevant.
In 2014, the Other Financial Assets reached Rp 244.61 billion. The Company holds an equity interests in some
of companies which are categorized as financial assets available for sale, which are recorded as acquisition
price, then deducted by depreciation of the equity interest in each company. More detailed explanation can
be found in the Note Report No. 11, pages 53-59 of the Audited Financial Statements 2014 financial year.
*) Restated
140 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Fixed AssetsComposition of Fixed Assets in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Fixed Assets 591.31 701.73 110.41 18.67
2013 2014
591
.31
70
1.73
DefinitionFixed assets are tangible assets held that are used in the provision of services, leased to another party, or administrative purposes, as well as the use of more than one period.
Standard Used• PSAKNo.16:FixedAssets• PSAKNo.30:Rent• PSAKNo.48:DepreciationofAssets• ISAK8:DeterminingWhetheranArrangementhasLease
Element• ISAK23:OperatingLeases-Incentives• ISAK24:EvaluatingtheSubstanceofAgreementsInvolving
the Legal Form of Lease• ISAK25:LandRights• OtherPSAKandISAKandotherrelevants.
In 2014, fixed assets reached Rp 701.73 billion, up 18.67% from 2013’s assets of Rp591.31. This is due to the
addition of the company’s assets such as Office Building and Other Building, Equipment Operations and
Office, as well as motor vehicles. More detailed explanation can be found in the Note Report No. 12 pages
59-61 of the Audited Financial Statements 2014 financial year.
Intangible Asset in the Form of Toll Road Concession Rights (HPJT) Composition of Intangible Assets (HPJT) in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Toll Road Concession Rights Intangible Assets 21,962.12 23,935.41 1,973.29 8.98
2013 2014
21,9
62.12
23,9
35.4
1
DefinitionToll Road Concession Rights (HPJT) is an intangible asset that is derived from the toll road concession, which is a compensation for the construction of toll roads.
Standard Used•PSAK19:IntangibleAssets•PSAK34:ConstructionContracts•PSAK48:DepreciationofAssets•ISAK16:ServiceConcessionArrangements•ISAK22:ServiceConcessionArrangements:Disclosures•OtherPSAKandISAKthatarerelevant
The Intangible assets of HPJT reached Rp 23.94 trillion, an increase of 8.98% or Rp 1.97 trillion from the
previous year. The Toll Road Concession of the Company increased, as reflected in the operations of several
toll roads managed by the Company through the Subsidiaries, such as JORR W2 North toll road managed
by PT Marga Lingkar Jakarta, Bogor Outer Ring Road Toll Road Section 2A Kedung Halang-Kedung Badak
managed PT Marga Sarana Jabar, and the Semarang-Solo toll road Section II Ungaran-Bawen managed by
PT Marga Trans Jateng. More detailed explanation can be found in the Report Note No. 13 page 61 of the
Audited Financial Statements for 2014 financial year.
*) Restated
141PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
*) Restated
Other Intangible AssetsComposition of Other Intangible Assets in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Intangible Assets 641.12 2,183.17 1,542.05 240.52
2013 2014
641.1
2
2,18
3.17
DefinitionOther intangible assets are non-monetary assets that can be identified and did not have a physical form, other than the Toll Road Concession Rights (HPJT).
Standard Used•PSAK19:IntangibleAssets•PSAK48:DepreciationofAssets•OtherPSAKandISAKthatrelevant
In 2014, Other Intangible Assets reached Rp 2.18 trillion, up 240.52% from the previous year of Rp 641.12
billion. This is due to increased of pre-construction soil of the Subsidiary companies which are still in the
process of constructing toll roads as well as the use of software by the Company. More detailed explanation
can be found in the Report Note No. 13 page 62 of the Audited Financial Report for 2014 Fiscal Year.
Goodwill
Composition of Goodwill in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Goodwill 41.85 41.85 - -
2013 2014
41.8
5
41.8
5
DefinitionGoodwill is the excess of the amount paid (considerations) and the fair value of net assets that are obtained.
Standard Used•PSAK19:IntangibleAssets•PSAK22:BusinessCombinations,IAS•PSAK48:DepreciationofAssetsValue•OtherPSAKandISAKthatarerelevant
In 2014 the Company recorded Goodwill amounting to Rp 41.85 billion, or equal to the period of 2013. In
2009, the Company had recorded Goodwill over the acquisition of PT Marga Nujyasumo Agung (MNA), the
concession holder of the Surabaya-Mojokerto toll road worth Rp 36,879,508,000 (full amount) based on
the estimates made by the Company and the value recorded in 2010 amounted to Rp 70,693,667,450 (full
amount) that had been adjusted with the results of the assessment of the independent appraisal.
142 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
In 2010, the Company acquired PT Marga Kunciran Cengkareng (MKC), the concession holder of Kunciran-
Cengkareng Toll Road, with equity interest of 75% ownership. The Company has recorded Goodwill arising
from this acquisition.
In 2010, the Company has also acquired PT Sarana Margabhakti Utama (now renamed as PT Jasa Layanan
Pemeliharaan), which engages in the construction, trade and rental of vehicles. Jasa Marga acquired 99%
shares in the targeted company. Jasa Marga has recorded Goodwill arising from this acquisition.
More detailed explanation can be found in the Note Report No. 14 page 63 of the Audited Financial
Statements for 2014 financial year.
Other AssetsComposition of Other Assets in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Assets 130.97 121.56 (9.40) (7.18)
2013 2014
130
.97
121.
56
DefinitionOther assets consist of assets taken over from the termination of the concession agreement (PKP) and are in the form of down payment to contractors and consultants for toll road construction, overlay works, toll road equipment procurement as well as other goods procurement that will be taken into account in the bill for the progress of work of contractors and consultants.
Standard Used• Thebasicframeworkofthepreparationandpresentation
of financial statements.• OtherPSAKandISAKthatarerelevant
Other assets consist of advanced payments to contractor, guarantees (bank guarantees), assets taken over,
and Surabaya toll road section - Gempol Porong section. In 2014, Other Assets reached Rp 121.56 billion, down
Rp 9.40 billion from the previous year of Rp 130.97 billion.
The decline of Other Assets was partly due to the decline in bank guarantee, namely bank guarantee
placed by the Company as the holder of the Toll Road Concession Right as a guarantee of the development
and completion of the toll road construction. In line with the operation of new toll roads managed by the
Company through its Subsidiaries, the use of collateral (bank guarantees) also began to decline. More
detailed explanation can be found in the Note Report No. 15 pages 64-65 of the Audited Financial Statements
for 2014 fiscal year.
*) Restated
143PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
LiabilitiesCompostion of Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Short Term Liabilites 4,871.30 4,312.92 (558.38) (11.46)
Long Term Liabilites 12,629.34 16,120.04 3,490.70 27.64
Total Liabilities 17,500.63 20,432.95 2,932.32 16.76
20142013
Short Term Liabilities
Long Term Liabilities Total Liabilities
4,87
1.30
4,31
2.92
12,6
29.3
4
17,5
00
.63
20,4
32,9
5 .
16,12
0.0
4
DefinitionLiabilities are the obligations of the Company arising from past events, the settlement of which is estimated to result in an outflow of resources that have economic values.
Standard Used• PSAKNo.1PresentationofFinancialStatements• PSAKNo.46IncomeTaxes• PSAKNo.57Provisions,ContingentLiabilitiesand
Contingent Assets• OtherPSAKandISAkthatarerelevant
Liabilities of the Company at the end of 2014 stood at Rp 20.43 trillion, up 16.76% from Rp 2.93 trillion in
2013. The increase is due to additional loans obtained by the Company to support the construction of the
new toll roads. As a result, the Long-Term Liabilities increased from Rp 12.63 trillion in 2013 to Rp 16.12 trillion
in 2014, while Current Liabilities decreased by 11.46% from previous year due to the repayment of bond
debts and bank debts.
*) Restated
144 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Short Term LiabilitiesComposition of Short Term Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Short Term Bank Loan 655.84 610.50 (45.34 ) (6.91)
Accounts Payable 100.03 191.68 91.64 91.62
Contractors Payable 1,153.45 990.49 (162.96) (14.13)
Taxes Payable 107.06 261.57 154.51 144.32
Other Payable 56.41 73.66 17.25 30.58
Acrued Expenses 464.68 416.26 (48.41) (10.42)
Current Portion of Long-Term Liabilities
Bank Loan 295.22 43.16 (252.06) (85.38)
Bonds Payable 700.00 - (700.00) (100.00)
Loans from Govovernment - - - n/a
Land Acquisition Liabilities 1.112.70 1,500.72 388.02 34.87
Capital Lease Payable 19.78 15.48 (4.29) (21.70)
Provision for Overlay 206.14 209.40 3.26 1.58
Total Short-Term Liabilities 4,871.30 4,312.92 (558.38) (11.46)
700
20142013Short
Term
Ban
k Loan
610
.50
191.
68
100
.03
00
??
19.7
8
0 15.4
8
00
206
.14
209.
40
99
0.4
9
107.
06
46
4.6
8
295.
22
261.
57
41.
26
43.
16
56.4
1
73.6
6
Accounts
Payab
le
Capita
l Leas
e
Payab
le
Provisi
on for O
verla
y
Contracto
rs Pay
able
Bank L
oan
Bonds
Payab
le
Taxe
s Pay
able
Other P
ayab
le
Acrued
Expense
s
Loans f
rom
Govove
rnment
Land A
cquisi
tion
Liabilit
ies
1,11
2.70
1.15
3.4
5
655
.84 1,50
0.7
2
DefinitionShort-term liabilities are liabilities that are expected to be settled within a period of twelve months after the reporting date or the normal cycle of operation of the Company.
Standard Used•PSAKNo.1:PresentationofFinancialStatements•PSAK50:FinancialInstruments:Presentation.•PSAK55:FinancialInstruments:RecognitionandMeasurement.•PSAK60:FinancialInstruments:Disclosures.•PSAK46:IncomeTaxes.•PSAK57:Provisions,ContingentLiabilitiesandContingentAssets.•ISAK16:ServiceConcessionAgreement•PSAK30:Leases•ISAK23:OperatingLeases-Incentives•ISAK22:ServiceConcessionArrangements:Disclosures.•OtherPSAKandISAKthatarerelevant
At the end of 2014, the Company recorded Short-Term Liabilities of Rp 4.31 trillion, which is lower 11.46% or
Rp 558.38 billion from the previous year’s Short-term Liabilities of Rp 4.87 trillion. The decline was primarily
due to the repayment of the Series S-A Bonds and the repayment of Bank Loans which matured in 2014.
From the above table and graph, the largest composition of Short-term Liabilities in 2014 was Land
Acquisition, which reached Rp 1.5 trillion. This liability was a bridging fund to purchase land for the
construction of toll road, by utilizing briding funds owned by Public Service Agency (BLU) of the Toll Road
Regulatory Agency.
*) Restated
145PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
*) Restated
Accounts PayableComposition of Accounts Payable in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Accounts Payable 100.03 191.68 91.64 91.62
2013 2014
100
.03
191.
68DefinitionAccount payables are obligations to deliver cash and cash equivalents arising from business activities which are regulated in the Articles of Association of the Company.
Standard Used• PSAK50:FinancialInstruments:Presentation• PSAK55:FinancialInstruments:Recognitionand
Measurement• PSAK60:FinancialInstruments:Disclosures• OtherPSAkandISAKthatarerelevant
Accounts payable of the Company consists of payable to third parties as well as to related parties which are
owed to suppliers for procurement of printed materials, stationery, toll tickets, medicines and uniforms as
well as accounts payable for services maintenance and cleaning of the toll roads.
Accounts Payable in 2014 reached Rp 191.68 billion, up 91.62% from the previous year which reached Rp
100.03 billion. Accounts payable increased primarily due to a rise o payable to third parties which rose
102.4% to Rp 186.28 billion from Rp 92.04 billion. More detailed explanation can be found in the Note Report
No. 16 page 65 of the Audited Financial Statements of the 2014 financial year.
Contractors Payable Composition of Contractors Payable in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Payable to Contractors 1,153.45 990.49 (162.96) (14.13)
2013 2014
1,153
.45
990
.49
DefinitionContractors Payable refers to payable to contractors, consultants and partners associated with the construction of roads, overlay, procurement of toll facilities and other buildings.
Standard Used• Thebasicframeworkofthepreparationandpresentationof
financial statements.• OtherPSAKandISAKthatarerelevant
Account Payable to Contractors reached Rp 990.49 billion, down 14.13% from the previous year of Rp 1.15
trillion. This happens because some of the projects the Company has completed and are also in operational
in 2014. More detailed explanation can be found in the Note Report No. 17, pages 65-66 of the Audited
Financial Statements of the 2014 financial year.
146 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Tax LiabilitiesComposition of Tax Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Tax Liabilities 107.06 261.57 154.51 144.32
2013 2014
107.
06
261.
57
DefinitionTaxes liabilities are taxes that have not been paid to the State Treasury.
Standard Used• PSAK46:IncomeTaxes• FrameworkforthePreparationandPresentationof
Financial Statements• OtherPSAKandISAKthatarerelevant
In 2014, tax liabilities reached Rp261.57 billion, an increase of 144.32% from 2013, which which reached
Rp 107.06 billion. This is because the Value Added Tax and Income Tax Income (PPh) Article 29 recorded an
increase. More detailed explanation can be found in the see Note Report No. 8 page 45 of Audited Financial
Statements of the 2014 fiscal year.
Other LiabilitiesComposition of Other Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Liabilities 56.41 73.66 17.25 30.58
2013 2014
56.4
1
73.6
6
DefinitionOther Liabilities consist of liabilities to related parties.
Standard Used• Thebasicframeworkofthepreparationandpresentation
of financial statements.• OtherPSAKandISAKthatarerelevant
Other liabilities consist of liabilities to related parties which are owed to PT Jatim Marga Utama (JMU) in
the form of capital injection as the Company’s equity at JMU which was received again by the Company
in April 2003. In addition, Donation to Scout Area in Cibubur and the Indonesian Miniatur Park (Taman
Mini Indonesia Indah) is a contribution of the Company to the national scouts movement and Taman
Mini Indonesia Indah based on Presidential Decree No. 14 of 1981 on the use of a portion of toll revenues
received from the toll gates to/from the Taman Mini Indonesia Indah and Cibubur Scout area. However, since
January 26, 2008, the Government issued Presidential Decree No. 3 Year 2008 regarding the revocation of
Presidential Decree No. 14 Year 1981. More detailed explanation can be found in the Report Note No. 18 page
66 of the Audited Financial Statements in the 2014 financial year.
*) Restated
147PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Accrued Expenses Composition of the Accrued Expenses in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Accrual Expense 464.68 416.26 (48.41) (10.42)
2013 2014
464.
68
416.
26
DefinitionAccrued Expense is a load that already occurred but have yet to be recorded in the accounts.
Standard Used• Thebasicframeworkofthepreparationandpresentationoffinancial
statements.• OtherPSAKandISAKthatarerelevant
The Accrued Expenses of the Company consist of Accrued Interest Expense of Bonds, Bank Debt Interest
Expense, General and Administrative Expenses, Salaries and Allowances, Joint Operating Expenses and
Other Expenses. Accured Expenses in 2014 reached Rp 416.26 billion, down 10.42% over the same period in
2013 which reached Rp 464.68 billion. Accrued expenses decreased, primarily due to the decline in accrued
expenses over business ventures from Rp 66.89 billion in 2013 to Rp 792 million in 2014. More detailed
explanation can be found in the Report Note 19 page 66 of the Audited Financial Statements in 2014
financial year.
Long Term Liabilities that Mature within One yearComposition of Long Term Liabilities that Mature within One Year in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Bank Loans 295.22 43.16 (252.06) (85.38)Bonds Payable 700.00 - (700.00) (100.00)Loans from Government - - - n/a Land Acquisition Liabilities 1,112.70 1,500.72 (388.02) 34.87Capital Lease Payable 19.78 15.48 (4.29) (21.70)Provision for Overlay 206.14 209.40 3.26 1.58 Total 2,333.83 1,768.76 (565.07) (24.21)
2013 2014
Bank Loans Bonds Payable
Loans from Government
295.
22
43.
16
Land Acquisition Liabilities
Capital Lease
Payable
Provision for Overlay
206
.14
15.4
8
00 19.7
8
0700
.00
209.
40
1,11
2.70
1,50
0.7
2
DefinitionLong-term liabilities that mature within One Year is part of long-term liabilities that will mature within twelve months after the reporting date and are presented in the Financial Statement by way of explaining in detail the type of long-term liabilities that will mature within one year.
Standard Used• PSAKNo.1PresentationofFinancialStatements• FrameworkforthePreparationandPresentationofFinancial
Statements• OtherPSAKandISAKthatarerelevant
Long-term liabilities that will mature within one year totaled Rp 1.77 trillion, down 24.21% from the previous of
Rp 2.33 trillion. The decline was due to the repayment of bond debt Series S-A and bank loan.
*) Restated
148 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Long Term LiabilitiesComposition of Long Term Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Unearned Revenues 71.03 74.23 3.20 4.51Deferred Tax Liabilities 548.50 623.50 75.00 13.67 Long-Term Liabilities- Net of Current PortionBank Loans 5,320.20 6,484.84 1.164.64 21.89 Bonds Payable 5,144.38 6,144.43 1,000.05 19.44Joint Operation Liabilities 22.21 22.21 - n/aLand Acquisition Liabilities 566.17 1,369.22 803.05 141.84 Capital Lease Payable 47.13 34.48 (12.65) (26.83)Provision for Overlay 124.95 156.71 31.76 25.42 Other Long Term Liabilities 458.67 819.42 360.76 78.65
Employee Benefits Liabilities 326.11 390.99 64.88 19.90Total Long-Term Liabilities 12,629.34 16,120.04 3,490.70 27.64
2013 2014
74.2
3
71.0
3
548.
50
22.2
1
566
.17
47.
13
124
.95
458
.67
326
.11
623
.50
22.2
1
1,36
9,22
34.4
8
156
.71
819.
42
390
.99
Capital L
ease Pay
able
Other Long Te
rm
Liabilities
Employee Benefits
Liabilities
Deferred Ta
x Liabilities
Unearned Revenues
Bank Loans
Bonds Pay
able
Joint O
peration
Liabilities
Land Acq
uisitio
n
Liabilities
Provision fo
r Ove
rlay
5,32
0.2
0
5,14
4.3
8
6,4
84.8
4
6,1
44
.43
DefinitionLong-term liabilities refers to liabilities to creditors in which the due dates of the debt settlements are more more than twelve months after the reporting period.
Standard Used• PSAKNo.1onPresentationofFinancialStatements• FrameworkforthePreparationandPresentationofFinancial
Statements• OtherPSAKandISAKthatarerelevant
At the end of 2014, Long-Term Liabilities rose 27.64% from Rp 12.63 trillion in 2013 to Rp 16.12 trillion in 2014.
This increase was primarily due to an increase in loans to third parties in order to support the constructions
of new toll road projects by the Company through its Subsidiaries.
Unearned IncomeUnearned Income in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Unearned Income 71.03 74.23 3.20 4.51
2013 2014
71.0
3
74.2
3
DefinitionUnearned income is cash receipts and cash equivalents from the other parties as payment for services of more than one year after the reporting period.
Standard Used•PSAK30:Leases•OtherPSAKandISAkthatarerelevant.
Unearned Income recorded an increase of 4.51% from the previous year, due to an increase income from rent
advertisements, land, rest areas and other income earned on the toll road areas. More detailed explanation
can be found in the Report Note 26 page 77 of the Audited Financial Statements of the 2014 financial year.
*) Restated
149PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Deferred Tax Liabilities Composition of Deferred Tax Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Deferred Tax Liabilities 548.50 623.50 75.00 13.67
2013 2014
548.
50
623.
50
DefinitionThe deferred tax liability is the amount of income taxes payable in future periods as a result of temporary taxable value differences. Temporary differences are arising from the gap between the amount of an asset or liability in the financial statement and basis for tax imposition.
Standard Used•PSAK46:IncomeTaxes•OtherPSAKandISAkthatarerelevant
The Company’s deferred tax liability in 2014 rose 13.67% from Rp 548.50 billion in 2013 to Rp 623.50 billion
in 2014. More detailed explanation can be found in the Report Note No.2q and 8c pages 46-48 of the
Audited Financial Statements of the 2014 financial year.
Long Term Liabilities – After Deducted with Portion of Debts Maturing in One yearComposition of Long Term Liabilities – After Deducted with Portion of Debts which Matures in One Year in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Bank Loan 5,320.20 6,484.84 1,164.64 21.89 Bonds Payable 5,144.38 6,144.43 1,000.05 19.44 Liabilities from Joint Operation 22.21 22.21 - - Land Acquisition Liabilities 566.17 1,369.22 803.05 141.84
Capital Lease Payable 47.13 34.48 (12.65) (26.83)
Provision for Overlay 124.95 156.71 31.76 25.42 Total 11,225.03 14,211.89 2,986.86 26.61
Bank Loan Bonds Payable
Liabilities from Joint Operation
Land Acquisition Liabilities
apital Lease Payable
Provision for Overlay
5,32
0.2
0
5,14
4.3
8
6,4
84.8
4
2013 2014
6,1
44
.43
22.
21
566
.17
47.
13
124
.95
22.2
1
1,3
69.2
2
34
.48
156
.71
In 2014, the amount of bank debts reached Rp 6.48 trillion, an increase of 21.89% or Rp 1.16 trillion from the
previous year of Rp 5.32 trillion. The increase was due to a rise of Bank Loans in the Subsidiary Companies
in line with the construction of new toll road activities. While Bonds Payable were amounting to Rp 6.14
trillion, an increase of Rp 1.00 trillion from Rp 5.14 trillion a year earlier. The increase was due to the issuance
of Jasa Marga Bond I Phase II 2014 amounting to Rp 1.00 trillion, which was used to repay the Company’s
Matured Bond Debts and an effort by the Company to lower interest expenses. The bond issuance is also an
effort to support the development of the Company’s business on an ongoing basis, as working capital in the
development of new toll roads.
*) Restated
150 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Other Long Term LiabilitiesComposition of Other Long Term Liabilities in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Long Term Liabilities 458.67 819.42 360.76 78.65
2013 2014
458
.67
819
.42
DefinitionOther long-term liabilities are long-term liabilities that can not be classified in one of the posts of existing long-term liabilities and are not considered material to be presented in a separate post.
Standard Used• PSAKNo.1onPresentationofFinancialStatements• FrameworkforthePreparationandPresentationof
Financial Statements• OtherPSAKandISAKthatarerelevant.
Other Long-Term Liabilities are contingent liabilities, which is a state that is still charactered by the
uncertainty regarding the possibility of obtaining profits or losses by the Company. This will be resolved by
the occurrence or non-occurrence of one or more events in the future. Other Long Term Liabilities increased
by 78.65% from Rp 458.67 billion in 2013 to Rp 819.42 billion in 2014. More detailed explanation can be found
in the Report Note 45 page 112 of the Audited Financial Report for the 2014 financial year.
Post Employement BenefitCompositon of Post Employement Benefit in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Post Employement Benefit 326.11 390.99 64.88 19.90
2013 2014
326
.11
39
0.9
9
DefinitionPost-employment benefit liabilities are liabilities arising from employee benefits (other than termination benefits) that are owed after the worker has completed his tenure.
Standard Used• PSAK24:EmployeeBenefits• ISAK15:PSAK24–TheLimitonFixedBenefitAsset,
Minimum Funding Requirements and Their Interaction• OtherPSAKandISAKthatarerelevant
Consisting of Retired Health Programs, Retirement Plans, and Retirement Program Pension Plans and Other
Post-Employment Benefits.
Employee benefits liabilities rose 19.90% from Rp 326.11 billion in 2013 to Rp 390.99 billion in 2014. More
detailed explanation can be found in Report Note No. 27 page 77-82 of the Audited Financial Statements for
2014 fiscal year.
*) Restated
151PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
EquityComposition of Equity in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Share Capital 3,400.00 3,400.00 - -
Additional Paid in Capital 2,453.89 2,453.89 - - Unrealized Gain (Loss) Securities Available for Sale 2.10 2.61 0.52 24.57 Retained Earnings 3,140.79 4,009.69 868.90 27.67 Total Equity Attributable to Owners of the Parent 8,996.78 9,866.20 869.42 9.66 Non-Controlling Interests 1.561.17 1,558.80 (2.37) (0.15)Total Equity 10,557.95 11,425.00 867.05 8.21
8.9
96
.78
9,8
66
.20
Total Equity Attributable to Owners of the
Parent
2013 2014
Retained Earnings
3,1
40
.79
4,0
09.
69
Additional Paid in Capital
Unrealized Gain (Loss) Securities Available for Sale
2,4
53.8
9
2,4
53.8
9
2.10
2.61
Non-Controlling
Interests
1,5
61.1
7
1,5
58.8
0
Share Capital
3,4
00
.00
3,4
00
.00
DefinitionEquity is the residual rights over the Company’s assets after deducting all liabilities. Equity comprises of Stockholders Equity, Additional Paid-in Capital, Gains (Losses) from Unrealized Securities Available for Sale, and the Retained Earnings.
Standard Used• PSAK38:BusinessCombinationofEntitiesunderCommon
Control• PSAK50:FinancialInstruments:Presentation,• PSAK53:Share-basedPayment• ISAK11:DistributionsofNon-cashAssetstoOwner• OtherPSAKandISAKthatarerelevant• PSAK65:ConsolidatedFinancialStatements
The Company recorded equity amounted to Rp 11.43 trillion in 2014. The Equity increased by 8.21% or
Rp 867.05 billion from 2013 which reached Rp 10.55 trillion. This increase was due to the ability of the
Company to post Comprehensive income for the Year amounted to Rp 1.21 trillion. The composition
of equity consists of Capital Stock, Additional Paid-in Capital, Gains (Losses) of Unrealized Securities
Available for Sale, Retained Earnings and Non-Controlling Interests.
*) Restated
152 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEIn 2014 the Company recorded the Income for the Year Attributable to Owner of the Parent Entity of Rp 1.40
trillion, up by 36.57% or Rp 375.77 billion from 2013. The increase is due to the rise of toll revenues and other
operating revenues of the Company, The increase in toll revenues was due to the increase in tariffs in the
Jakarta-Cikampek toll road and Prof. Dr. Ir. Sedyatmo toll road and the increase of traffic volume by 4.85%
from 2013. In addition, operating expenses (non-construction expenses) in 2014 increased by 2.74% from 2013.
Financial Performance in 2013 and 2014
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Operating Revenues 10,271.47 9,175.32 (1,096.15) (10.67)Operating Expenses 8,012.31 6.131.28 (1,881.02) (23.48)Operating Profit 2,259.16 3,044.04 784.88 34.74 Income for the Year Attributable to Owner of the Parent Entity
1,027.66 1,403.43 375.77 36.57
Income for the Year Attributable to Non-Controlling Interest Party
1,026.47 1,403.94 377.48 36.77
EBITDA 3,398.50 3,965.97 567.22 16.70Earnings Per Share 151 206 55.26 36.57
9,1
75.3
2
6,1
31.2
8
Operating Revenues
Operating Expenses
Operating Profit
Income for the year Attributable to Owner of the
Parent Entity
Income for the year Attributable
to Non-Controlling Interest Party
EBITDA Earnings Per Share
2,2
59.1
6
3,3
98.
50
151
1,0
27.6
6
1,0
26.4
7
3,0
44
.04
3,9
65.
97
20
6 1,4
03.
43
1,4
03.
94
2013 2014
10
,271
.47
8,0
12.3
1
*) Restated
153PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
*) Restated
Operating RevenuesComposition of Operating Revenues in 2014 Compared to 2014
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Toll Revenues 5,802.73 6,646.39 843.66 14.54 Construction Revenues 3,960.54 1,945.82 (2,014.71) (50.87)Other Revenues 508.20 583.10 74.90 14.74 Total Operating Revenues 10,271.47 9,175.32 (1,096.15) (10.67)
Total Operating Revenues
Construction Revenues
Other Revenues
Toll Revenues
2013 2014
5,8
02.
73
6,6
46
.39
3,9
60
.54
1,9
45.
82
508.
20
583.
10
10
,271
.47
9,1
75.3
2
DefinitionOperating revenues are revenues from the main business activities of the company as stated in the Articles of Association of the Company.
Standard Used•PSAK23:Revenues•PSAK30:Leases•PSAK34:ConstructionContracts•OtherPSAKandISAKthatarerelevant
Operating Revenues of the Company comprise of Toll Revenues, Construction Revenues and Other
Operating Revenues. In 2014, the Company’s Operating Revenues reached Rp 9.18 trillion, down 10.67% from
2013’s Operating revenues of Rp 10.27 trillion. Toll Revenues increased by 14.54% from Rp 5.80 trillion in 2013
to Rp 6.65 trillion in 2014. The decline of Operating Revenues is due to the decline of Construction Revenues
by 50.87% from the previous year. If Construction Revenues are excluded, the Company’s Operating
Revenues in 2014 increase by 14.56%.
Toll RevenuesToll revenues are revenues from; (1) the operation of the toll roads which are recognized when toll tickets are
sold and/or services are rendered, and (2) the operation of the toll road with an investor with the operating
rights are recognized when toll tickets are sold after deducting the proceeds with the portion allocated for
the investor.
In 2014, the toll revenues reached Rp 6.65 trillion, an increase of 14.54% from 2013’s toll revenues of Rp
5.80 trillion. The increase was driven by an increase of traffic volume transactions and the tariff adjustment
in 2014, as well as the commercial operation of the the Bali Mandara Toll Road, Ungaran-Bawen, Kedung
Halang-Kedung Kedung Gajah and Ciledug-Ulujami toll road sections. More detailed explanation can be
found in the Report Note No. 31 p. 87 of the Audited Financial Statements for the 2014 Fiscal Year.
154 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Composition of Toll Revenues in 2014 compared to 2013 is as follows:
Description
2013* 2014
Δ %Amount Contribution
(%) Amount Contribution(%)
Branch Offices Jakarta - Cikampek 976.57 16.83 1,023.43 15.40 46.86 4.80 Cikampek - Padalarang 741.09 12.77 835.99 12.58 94.90 12.81 JORR Non-S Section 710.63 12.25 848.93 12.77 138.30 19.46 Cawang - Tomang - Pluit 686.80 11.84 754.28 11.35 67.48 9.83 Jakarta - Bogor - Ciawi 548.25 9.45 607.46 9.14 59.21 10.80 Prof. Dr. Ir. Sedyatmo 423.16 7.29 458.05 6.89 34.88 8.24 Jakarta - Tangerang 408.01 7.03 467.12 7.03 59.11 14.49 Padalarang - Cileunyi 276.29 4.76 339.93 5.11 63.64 23.03 Surabaya - Gempol 270.47 4.66 309.02 4.65 38.56 14.26 JORR S 212.54 3.66 210.82 3.17 (1.72) (0.81) Pondok Aren - Bintaro Viaduct - Ulujami 131.85 2.27 122.70 1.85 (9.15) (6.94) Palimanan - Kanci 107.49 1.85 112.44 1.69 4.95 4.60 Semarang Sections A, B, C 104.77 1.81 106.50 1.60 1.73 1.65 Belawan - Medan - Tanjung Morawa 81.57 1.41 91.35 1.37 9.78 11.99
Total 5,679.49 97.88 6,288.01 94.61 608.52 10.71 Subsidiaries Bogor Outer Ring Road 45.55 0.79 67.17 1.01 21.62 47.46 Semarang - Solo 36.49 0.63 107.25 1.61 70.77 193.95 Surabaya - Mojokerto 17.55 0.30 18.78 0.28 1.23 7.01 Nusa Dua-Benoa 23.65 0.41 106.14 1.60 82.49 348.78 Ulujami - Kebun Jeruk - - 59.04 0.89 59.04 n/a
Total 123.24 2.12 358.38 5.39 235.14 190.79
TOTAL 5,802.73 100.00 6,646.39 100.00 843.66 14.54
59.0
4
0
Ulujami-K
ebon Jeru
k
131.
85
107.
49
104
.77
81.5
7
45.
55
36.4
9
17.5
5
23.6
5 122
.70
112.
44
106
.50
91.
35
67.1
7
107.
25
18.7
8
106
.14
Jaka
rta -
Cikampek
Cikampek -
Padala
rang
JORR N
on-S Secti
on
Cawan
g - To
mang -
Pluit
Jaka
rta -
Bogor - C
iawi
Prof. D
r. Ir. S
edyatm
o
Jaka
rta -
Tangeran
g
Padala
rang -
Cileunyi
Surabay
a - G
empol
JORR S
Pondok Are
n - Binta
ro V
iaduct
- Ulujam
i
Paliman
an -
Kanci
Semarang Secti
ons A, B
, C
Belawan
- Medan
- Ta
njung Moraw
a
Bogor Oute
r Ring R
oad
Semarang -
Solo
Surabay
a - M
ojokerto
Nusa D
ua - B
enoa
976
.57
741.
09
710
.63
686
.80
548.
25
423
.16
1,0
23.4
3
835
.99
84
8.93
754
.28
60
7.4
6
458
.05
40
8.0
1
467
.12
276
.29
339
.93
270
.47
309.
02
210
.82
212
.54
2013 2014
The above table and graph show that the growth is found across the Company’s toll roads. The largest
contribution came from the toll revenues from Jakarta-Cikampek toll road which reached Rp 1,023.43
billion, or 15.40% of total toll revenues, while toll road sections that are located in Jakarta and surrounding
areas are still the largest contributor to the revenues of the Company. In 2014, total toll revenues are
derived from toll roads in the inner city of Jakarta, amounting to Rp 754.28 billion, contributing 11.35% to
the total toll revenues.
*) Restated
155PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Construction Revenues Composition of Construction Revenues in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Construction Revenues 3,960.54 1,945.82 (2,014.71) (50.87)Construction Expenses 3,914.45 1,921.07 (1,993.39) (50.92)Construction Margin 46.09 24.76 (21.33) (46.28)
Construction Revenues
Construction Expenses
Construction Margin
46
.09
24
.76
2013 2014
1,9
45.
82
1,9
21.0
7
3,9
60
.54
3,9
14.4
5
DefinitionConstruction Revenues derives from revenues of the construction work services of new toll roads and the improved capacity of toll roads. Construction revenues are recognized in accordance with the stage of completion of the toll road construction at the end of the reporting period as much as the amount of construction cost plus construction margin.
Standard Used•PSAK34:ConstructionContracts•OtherPSAKandISAKthatarerelevant
In 2014, Construction Revenues fell 50.87% to Rp 1.95 trillion with Construction Expenses amounting to Rp
1.92 trillion and Rp 24.76 billion Construction Margin, or down 46.28% from the previous year. This decrease
was due to the operation of the Company’s new toll roads, such as JORR W2 North, Section 2 Ungaran-
Bawen of the Semarang-Solo toll road, Section 2A Kedung Halang-Kedung Badak of the Bogor Outer Ring
Road (BORR) toll road. More detailed explanation can be viewed in the Report Note No. 32 p. 89 of the
Audited Financial Statements for the 2014 Fiscal Year.
Other Operating Revenues Composition of Other Operating Revenues in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Fuel Sales 153.07 178.71 25.64 16.75 Land Rent 90.06 104.36 14.30 15.88 Toll Road Operating Service 32.41 100.60 68.19 210.44 Advertisement 6.72 6.31 (0.41) (6.06)Others 225.94 193.12 (32.82) (14.52)Total Other Operating Revenues 508.20 583.10 74.90 14.74
Land RentFuel Sales Toll Road Operating
Service
OthersAdvertisement
6.7
2
90
.06
32.4
1 10
4.3
6
100
.60
6.3
1
2013 2014
153.
07
178
.71 22
5.9
4
193.
12
DefinitionOther operating revenues are revenues apart from toll revenues and construction revenues. Among Other Operating Revenues are advertising space rent, land rent, heavy equipment, fuel filling station (SPBU) revenues, rest areas as well as revenues from toll road operating service.
Standard Used•PSAK30:Leases•OtherPSAKandISAKthatarerelevant
*) Restated
In 2014, Other Operating Revenues reached Rp 583.10 billion, an increase of 14.74% compared to 2013. This
increase was primarily due to rise of revenues from the operating services of the Suramadu toll road. More
detailed explanation can be viewed in the Report Note No. 33 p. 89 of the Audited Financial Report for the
2014 Fiscal Year.
156 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Operating Expenses Composition of Operating Expenses in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Toll Collection Expenses 872.70 1,082.60 209.90 24.05 Toll Road Service Expenses 481.74 556.72 74.98 15.56 Toll Road Maintenance Expenses 1,568.82 1,364.54 (204.29) (13.02)Joint Operations Expenses 308.00 313.04 5.04 1.64 Construction Expenses 3,914.45 1,921.07 (1,993.39) (50.92)General Administrative Expenses 1,087.82 1,160.59 72.76 6.69 Other Income (254.73) (287.55) (32.82) 12.89 Other Expenses 33.49 20.28 (13.21) (39.44)
Toll Collection Expenses
Toll Road Service
Expenses
Toll Road Maintenance
Expenses
Joint Operations Expenses
Construction Expenses
General Administrative
Expenses
Other Income Other Expenses
872.
70
481
.74 1
,56
8.82
308.
00
1,9
21.0
7
1,0
87.8
2
(254
.73)
33.
49
1,0
82.6
0
556
.72
1,3
64
.54
313
.04
1,1
60
.59
(28
7.55
)
20
.28
2013 2014
3,9
14.4
5
DefinitionExpenses refer to a decrease of economic benefits during an accounting period in the form of an outflow or depletion of assets or liabilities, which resulting in in a decrease in equity which is not related with the distribution to shareholders. Operating expenses are expenses arising from the main activities of the Company as stated in the Articles of Association of the Company.
Standard Used•PSAK14:Inventories•PSAK16:PropertyandEquipment•PSAK19:IntangibleAssets•PSAK24:EmployeeBenefits•PSAK34:ConstructionContracts•OtherPSAKandISAKthatotherrelevant
In 2014, the Company’s Operating Expenses fell 23.48%, from Rp 8.01 trillion in 2013 to Rp 6.13 trillion in 2014.
If expenses are excluding expenses for construction, the Company’s operating expenses increased by Rp
112.36 billion or rose 2.74% from 2013. This increase was due to the increase in cost due to the improvement
of human resources remuneration and the increasing use of non-subsidized fuel as a result of the increasing
length of road operated by the Company. In addition, the operation of new toll roads such as JORR W2
North, Semarang-Solo-Bawen Ungaran Section II and Section II Kedung BORR Halang-Kedung Badak
resulted in the increase of depreciation expense. The land and building tax (PBB) increased as a result of
a rise in NJOP in particular in Jabotabek toll roads. More detailed explanation can be viewed in the Report
Note No. 35, 36, 37, 38, 39, 40, 41 p. 90 -91 of the 2014 Audited Financial Statements for 2014 Fiscal Year.
*) Restated
157PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Operating IncomeComposition of Operating Profit in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Operating Revenues 10,271.47 9,175.32 (1,096.15) (10.67)Operating Expenses 8,012.31 6,131.28 (1,881.02) (23.48)Operating Income 2,259.16 3,044.04 784.88 34.74
20142013
10
,271
.47
8,0
12.3
1
9,17
5.32
6,13
1.28
2,2
59.16
3,0
44.0
4
Operating Revenues
Operating Expenses
Operating Income
DefinitionOperating Income is the difference between Operating Revenues and Operating Expenses of the Company.
Standard Used• Thebasicframeworkofthepreparationand
presentation of financial statements.• OtherPSAKandISAKthatarerelevant
Operating Income of the Company in 2014 reached Rp 3.04 trillion. The achievement was higher than in
2013 which reached Rp 2.26 trillion. This is consistent with the increase in the Company’s performance as
reflected in the increase of Toll Revenues.
Other Income (Expenses)Composition of Other Income (Expenses) in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Other Income 254.73 287.55 32.82 12.89 Other Expenses (33.49) (20.28) 13.21 (39.44)Total Other Income (Expenses) 221.23 267.27 46.04 20.81
20142013
254.
73
221
.23
287
.55
(33
.49)
(20
.28)
267
.27
Other Income Total Other Income (Expenses)
Other Expenses
DefinitionOther Income (Charges) refer to income (charges) which are not directly linked with the Company’s main business activities.
Standard Used•OtherPSAKandISAKthatotherrelevant
Other Income (Charges) of the Company in 2014 reached Rp 267.27 billion, an increase of 20.81% compared
to 2013. This was due to an increase of interest on deposits and current accounts. More detailed explanation
can be viewed in the Report Notes of the No. 40, 41 p. 91 of the 2014 Audited Financial Statements for 2014
Fiscal Year.
*) Restated
158 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Profit Before TaxesComposition of Profit Before Tax in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Profit Before Tax 1,310.64 1,821.97 511.34 39.01
2013 2014
1,3
10.6
4
1,8
21.9
7
DefinitionProfit before tax is the profit of the current year before deducting tax liabilities.
Standard Used• Thebasicframeworkofthepreparationandpresentation
of financial statements.• OtherPSAKandISAKthatarerelevant
In 2014, Profit Before Tax of the Company reached Rp 1.82 trillion, up from Rp 511.34 billion or 39.01%
compared to the previous year which reached Rp 1.31 trillion. This increase is in line with the achievement of
the Company as reflected in the increase in operating profit.
Tax ExpensesComposition of Tax Expenses in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Tax Expenses 300.60 531.64 231.04 76.86 Deferred Tax 81.25 75.00 (6.25) (7.69)Total Income Tax Expenses 381.85 606.64 224.79 58.87
20142013
30
0.6
0
381
.85
531
.64
60
6.64
81.
25
75.
00
Tax Expenses Deferred Tax Total Income Tax Expenses
DefinitionTax expense is the aggregate amount of current tax and deferred tax) which are taken into account in the calculation of profit or loss in the current period.
Standard Used•PSAK46:IncomeTaxes•OtherPSAKandISAKthatarerelevant
Tax expense of the Company in 2014 increased by 58.87% from Rp 381.85 billion in 2013 to Rp 606.64 in
2014. The increase of Income Tax Expense is influenced by the increase in profit before tax. More detailed
explanation can be viewed in the Report Note No. 8c page 46 of the Audited Financial Report for 2014
Fiscal Year.
Tax disputes Encountered by the Company During 2014, there were no tax disputes being encountered by the Company.
*) Restated
159PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Income for the yearIncome in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Owner of Parent Entity 1,027.66 1,403.43 375.77 36.57 Non-Controlling Interest 98.87 188.10 89.22 90.24 Total Comprehensive Income for the Year 928.79 1.215.33 286.54 30.85
20142013
1,0
27.6
6
928
.79 1,4
03.
43
1,2
15.3
3
98.8
7
188.
10
Owner of Parent Entity
Non-Controlling Interest
Total Comprehensive Income for the year
DefinitionIncome for the year is obtained in the current financial year after deducting tax expense.
Standard Used•PSAKNo.1:PresentationofFinancialStatements•OtherPSAKandISAKthatarerelevant
Income for the Year of the Company reached Rp 1.22 trillion compared to net income in 2013, represents an
increase of 30.85%. Net Income for the Year Attributable to the owner of the Parent Company and to the
Non-Controlling Parties. Net Profit Attributable to the Parent Company reached Rp 1.40 trillion, an increase
of 36.57% compared to the achievement in 2013. While the Net Profit (Loss) for the Year Attributable to
Non-Controlling Parties in 2014 reached Rp 188.10 billion, an increase of 90.24%.
Other Comprehensive RevenuesComposition of Other Comprehensive Income in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Unrealized Gain (Loss) on Securities Available for Sale (1.19) 0.52 1.71 143.19
2013 2014
(1.19
)
0.5
2
DefinitionOther Comprehensive Income refers to the balance of income and expenses, including reclassification adjustments, which are not recognized in profit or loss statement.
Standard Used• PSAKNo.1:PresentationofFinancialStatements• PSAK10:TheEffectsofChangesinForeignExchange
Rates• PSAK15:InvestmentsinAssociatesandVentureBusinesses• PSAK24:EmployeeBenefits• PSAK55:FinancialInstruments:Recognitionand
Measurement• OtherPSAKandISAKthatarerelevant.
In 2014, Other Comprehensive Income increased by Rp 1.71 billion or 143.19% compared to 2013. The increase
is due to the Unrealized Gains on Securities Available for Sale. More detailed explanation can be viewed in
the Report Note No. 2.d page 21 of the Audited Financial Report for 2014 Fiscal Year.
*) Restated
160 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Comprehensive Income for the yearComposition of Comprehensive Income in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Owner of the Parent Entity 1,026.47 1,403.94 377.48 36.77 Non-Controlling Interest 98.87 188.10 89.22 90.24 Total Comprehensive Income for the Year 927.59 1,215.85 288.25 31.08
98.8
7
188.
10Owner of the Parent
Entity Non-Controlling InterestTotal Comprehensive Income for
the year
1,0
26.4
7
1,4
03.
94
1,2
15.8
5
927
.59
20142013
DefinitionComprehensive Income for the year is the current year’s profits earned in the current financial year after deduction of other comprehensive income.
Standard Used•PSAKNo.1:PresentationofFinancialStatements•OtherPSAKandISAKthatarerelevant
The Comprehensive Income for the Year reached Rp 1.22 trillion, an increase of 31.08% compared to the year
of 2013 which reached Rp 927.59 billion. Comprehensive Income for the Year Attributable to the Owner of
the Parent Entity reached Rp 1.40 trillion, an increase of 36.77% compared to 2013. While the Comprehensive
Income Attributable to Non-Controlling Interests reached Rp 188.10 billion.
Earnings per ShareComposition of Earnings per Share in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Earnings per Share (full Rupiah amount) 151 206 55 36.42
2013 2014
151
206
DefinitionEarnings per Share is the net income of the Company during the year divided by the average outstanding number of shares. The net income is deducted by the preferred stocks that are taken into account for the year.
Standard Used•PSAKNo.1onPresentationofFinancialStatements•OtherPSAKandISAKthatarerelevant
In 2014, Earnings per Share (full amount) was at Rp 206, represents an increase of 36.42% from 2013’s
Earnings per Share of Rp 151. The increase is due to the increase in the Profit for the year Attributable to the
Owners of Parent Company. More detailed explanation can be viewed in the Report Note No. 47 p. 121 of the
Audited Financial Report for 2014 Fiscal Year.
*) Restated
161PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
PROFITABILITy RATIOThis ratio is used to measure the capability of the Company to produce profits.
Description 2013* 2014
Gross Profit Margin 21.99% 33.18% Net Profit Margin 10.01% 15.30% ROE (Return on Equity) 9.73% 12.28% ROA (Return on Assets) 3.66% 4.41%EBITDA Margin 53.85% 54.86%
20142013
10.0
1%
9.7
3%
3.6
6%
15.3
0%
12.2
8%
4.4
1%
54,8
6%
Gross Profit Margin Net Profit Margin
ROE (Return on Equity)
ROA (Return on Assets)
EBITDA Margin
21.9
9%
33.1
8%
53.8
5%
CONSOLIDATED STATEMENTS OF CASH FLOwSComposition of Consolidated Statement of Cash Flows in 2014 Compared to 2013
(in billion Rp)
Description 2013* 2014 Δ Rp Δ %
Net Cash Flow from Operating Activities 2,085.83 1,852.17 (233.66) (11.20)Net Cash Flows Used in Investing Activities 4,463.03 3,651.97 (811.06) (18.17)Net Cash Flows from Financing Activities 1,588.87 1,576.52 (12.35) (0.78)Balance of Cash and Cash Equivalent at End of the Year 3,514.06 3,290.78 (223.28) (6.35)
20142013
2,0
85.8
3
1,58
8.87
3,51
4.0
6
4,4
63.
03
1,8
52.1
7
1,5
76.5
2
3,2
90
.78
3,6
51.9
7
Net Cash Flow from Operating Activities
Net Cash Flows from Financing Activities
Balance of Cash and Cash Equivalent at End
of the year
Net Cash Flows Used in Investing Activities
DefinitionCash Flow statement is a component of financial statements that show the incoming and outflow of cash and cash equivalents during a certain period, which are grouped into operating, investing, and financing activities.
Standard Used•PSAKNo.1onPresentationofFinancialStatements•OtherPSAKandISAKthatarerelevant
*) Restated
162 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Net Cash Flow from Operating ActivitiesNet Cash Flows from Operating Activities in 2014 reached Rp 1.85 trillion, down 11.20% compared to 2013.
This increase was mainly due to an increase in interest payments on the loans.
Net Cash Flows Used in Investing ActivitiesNet Cash Flows from Investing Activities 2014 reached Rp 3.65 trillion, down by 18.17% from investing
activities in 2013. This decrease was partly due to the operation of several toll roads owned by the Company
in 2014.
Net Cash Flows from Financing ActivitiesNet Cash Flows from Financing Activities in 2014 reached Rp 1.57 trillion, declined by 0.78% compared with
the year of 2013. This decrease was due to the refinancing and repayment of bank loans.
Segment InformationAs of the end of 2014, the Company has operated eighteen (18) toll roads. Five (5) toll road segments are
operated by the Subsidiaries of the Company and thirteen (13) segments are managed by nine Branches.
Toll revenues of Jasa Marga and its subsidiaries for each segment are presented in the following table:
Operating Revenues per Business Segment (in billion Rp)
No. Description
2013* 2014
Amount Contribution(%) Amount Contribution
(%)
1. Head Office (JORR) 1,848.59 18.00 1,437.76 15.67
2. Jagorawi 561.17 5.46 619.17 6.75
3. Jakarta-Cikampek 993.62 9.67 1,044.65 11.39
4. Purbaleunyi 1,029.47 10.02 1,194.54 13.02
5. Jakarta-Tangerang 416.04 4.05 476.26 5.19
6. Cawang-Tomang-Cengkareng 1,142.66 11.12 1,247.62 13.60
7. Other Segment 4,279.93 41.67 3,155.33 34.39
TOTAL 10,271.47 100.00 9,175.32 100.00
Operating Expenses per Business Segment (in billion Rp)
No. Description
2013* 2014
Total Contribution(%) Total Contribution
(%)
1. Head Office (JORR) 1,682.67 20.44 1,339.92 20.94
2. Jagorawi 319.00 3.87 327.93 5.13
3. Jakarta-Cikampek 702.59 8.53 718.88 11.23
4. Purbaleunyi 318.07 3.86 306.16 4.78
5. Jakarta-Tangerang 212.90 2.59 255.78 4.00
6. Cawang-Tomang-Cengkareng 372.59 4.53 395.33 6.18
7. Other Segment 4,625.73 56.18 3,054.55 47.74
TOTAL 8,233.54 100.00 6,398.55 100.00
*) Restated
163PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
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Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
*) Restated
Operating Profit (Loss) Before Tax per Business Segment (in billion Rp)
No. Description2013* 2014
Amount Contribution(%) Amount Contribution
(%)
1. Pusat Office (JORR) (576.72) (44.00) (804.84) (44.17)
2. Jagorawi 240.55 18.35 291.44 16.00
3. Jakarta-Cikampek 291.66 22.25 327.77 17.99
4. Purbaleunyi 706.52 53.91 884.13 48.53
5. Jakarta-Tangerang 203.08 15.49 222.95 12.24
6. Cawang-Tomang-Cengkareng 771.79 58.89 855.03 46.93
7. Other Segment (326.25) (24.89) 45.49 2.5
TOTAL 1,310.64 100.00 1,821.97 100.00
*) Restated
SOLVABILITy AND COLLECTABILITy OF RECEIVABLES
Capability to Repay DebtsThe capability of the Company to repay short-term
debts is influenced by the level of liquidity of the
Company.
Liquidity levelsThe capability to repay short-term debts is reflected
in the Liquidity Ratio. The level of liquidity is shown
by the Current Ratio and Cash Ratio.
Liquidity Ratio (in billion Rp)
Description 2013* 2014
Cash and Cash Equivalent 3,514.06 3,290.78Current Assets 3,788.30 3,641.37Short-Term Liabilities 4,871.30 4,312.92Ratio (times)
Current Ratio 0.78 0.84 Cash Ratio 0.72 0.76
2013
2014
0.7
8
0.7
2
0.7
6
0.8
4
Current Ratio Cash Ratio
The level of liquidity ratios show that the level of
the Company’s liquidity has improved, Current
Ratio increased from 0.78 in 2013 to 0.84 times in
2014, while the Cash Ratio increased from 0.72 to
0.76 times.
Level of Solvability The level of solvability measures the Company’s
ability to repay long-term liabilities. As of the end of
2014, Debt to Equity Ratio of the Company stood
at 1.79 times. The ratio improved from 2013, which
reached 1.66 times. Meanwhile, EBITDA compared
to Interest Expense or Interest Coverage Ratio of
the Company in 2014 reached 3.26 times. This ratio
declined from 2013, which reached 3.60 times.
Under these conditions, the Company is still within
the corridor of Financial Restrictions required by
creditors and are in a strong financial condition.
Solvability Ratio (in billion Rp)
Description 2013* 2014
Total Assets 28,058.58 31,857.95Total Liabilities 17,500.63 20,432.95Equity 10,557.95 11,425.00EBITDA 3,398.50 3,965.97 Interest Expenses 944 1.215 Ratio (times)
DER 1.66 1.79 Debt Ratio 0.62 0.64 ICR (Interest Coverage Ratio)
3.60 3.26
164 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Collectibility of ReceivablesThe Company does not have Receivables
considering that transactions are made in cash.
Therefore, it is not possible to measure the level of
collectibility receivables. While the receivables that
are existing are receivables from employees where
the collectability of receivables is held every month
in conjunction with the payment of salaries.
Capital StructureCapital structure of the Company as of December 31,
2014 are as follows:
(in billion Rp)
Description 2013* 2014
Short Term Liabilities 4,871.30 4,312.92 Long Term Liabilities 12,629.34 16,120.04 Total Liabilities 17,500.63 20,432.95 Total Equity 10,557.95 11,425.00 Ratio of Short Term Liabilities to Equity (times)
0.46 0.38
Ratio of Long Term Liabilities to Equity (times)
1.20 1.41
Debt to Equity Ratio (times)
1.66 1.79
Capital Structure PolicyThe Company sets the amount of capital in line
with the proportion to risks. The Company manages
the capital structure and makes adjustments by
monitoring changes in economic conditions and
the risk characteristics of the underlying assets.
Similar with other companies in the industry, the
Company monitors capital on the basis of the
ratio of Liabilities to Equity. This ratio is calculated
as follows: Total Liabilities divided by Equity. In
2014, Liabilities to Equity ratio stands at 1.79 times,
therefore, the Company was able to maintain a debt-
to-equity ratio at a maximum of 5:1 as required by
the creditors.
Investment in Capital GoodsInvestment Realization of capital goods in 2014
reached Rp 4.79 trillion, of which Rp 3.23 trillion
is used for the development of the Company’s
Subsidiaries with the following details:
(in billion Rp)
Description 2014
Capex of Parent Company 2,341.30 Operational 1,184.66 Toll Road Development 1,026.57 Investment in Other Businesses 51.82 Investment in Non-Operational Supporting Facilities
78.25
Capex of Subsidiaries 3,226.41 PT Marga Lingkar Jakarta 316.60 PT Marga Sarana Jabar 76.32 PT Marga Trans Nusantara 447.61 PT Marga Kunciran Cengkareng 685.34 PT Trans Marga Jateng 429.48 PT Transmarga Jatim Pasuruan 378.53 PT Marga Nujyasumo Agung 502.24 PT Jasamarga Pandaan Tol 370.51 PT Jasa Marga Bali Tol 19.78 Capex of Non-Toll Subsidiaries 29.86 PT Jasa Layanan Pemeliharaan 5.33 PT Jasamarga Properti 24.53 Equity Injection to Subsidiaries (810.04)Total Consolidated Capex 4,787.54
Comparison of 2014 Target and 2014 RealizationIn 2014, the Company sets target for Operating
Revenues (excluding Construction Revenues) of
Rp 7.24 trillion and Traffic Volume amounted to 1.37
billion vehicles. The realization of the achievement
by the Company was slightly below the set target, in
which Operating Revenues reached Rp 7.23 trillion
and traffic volume totaled 1.32 billion vehicles.
In the midst of pressure of increasing operating
expenses due to the expansion of toll roads and
a reduction in revenues as a result of lower-than-
expected traffic volume that caused slowdown
in the flow of goods and services as well as the
postponement of new toll road operations due
to land acquisition, the Company was still able to
record Net Profit of Rp 1.40 trillion, which was 16.87%
higher from the target of Rp 1.20 trillion.
165PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
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Glossary Consolidated Financial Statements
Comparision between Target 2014 and Realization 2014
Description Target 2014 Realization 2014 Remarks
Operating Revenues (billion Rp) 7,243.24 7,229.49 Excluding Construction RevenuesTraffic Volume (billion transactions) 1.37 1.32
Target/Projection to Achieve Next yearIn 2015, the Company targets Operating Revenues (excluding Construction Revenue) amounted to Rp 7.95
trillion and traffic volume transactions of 1.38 billion vehicles.
Target 2015
Description Target 2015 Remarks
Operating revenues (billion rupiah) 7,952.94 Excluding Construction RevenuesTraffic Volume (million vehicles) 1,384.50
Material Ties for the Investment in Capital GoodsIn 2014 the Company did not perform material commitments on capital goods investment.
Material Information Subsequent to the Date of Accountant’s ReportIn accordance with the Minutes of the EGM which was legalized through the Notarial Deed of Aryanti
Artisari, SH, M.Kn., PT Jakarta Propertindo decides, among other things, appoint Mr. Ir. Abdul Hadi Hs., M.M.
as its President Director. In relation to this, Mr. Ir. Abdul Hadi Hs., MM has resigned as Director of Business
Development of the Company in accordance with the Letter No. DA.03 January 21, 2015. The Company,
through its letter No. AA.KP05.83 dated January 22, 2015 has appointed Mr. Ir. Hasanuddin, M.Eng. Sc. as a
temporary replacement officer until the Company holds the AGMS (RUPS).
Business Prospect and Conditions of the Industry and EconomyBased on data from the Central Statistics Agency (BPS), Indonesia’s economy in 2014 grew by 5.02% from
2013 with an inflation rate of 8.36%. This shows that the Indonesian economy is still relatively stable.
The economic growth is still growing is reflected in the increase in sales of motor vehicles in Indonesia,
especially cars. In 2014, car sales reached 1.21 million vehicles (Gaikindo data), decreased by 1.60%
compared to car sales in 2013. Despite the decline in vehicle sales, the Company remains optimistic that the
future traffic volume will continue to keep growing in line with the increase in length of the new toll road
operations as well as economic growth in Indonesia.
In 2015, the Company is optimistic that it will operate three additional toll roads, namely: Gempol-
Pandaan, Gempol-Rembang section of Gempol-Pasuruan toll road, Krian-Mojokerto section of Surabaya-
Mojokerto toll road.
The reallocation of fuel subsidies to more productive sectors of the economy by the Government has a
potentiality to bring about positive impact on Infrastructure Industry in Indonesia. The Company is optimistic
about the prospect of the development of toll roads in the future as the government’s State Budget (APBN)
has wider room to fund the infrastructure projects.
In 2014, the total length of toll roads operated by the Company reached 576 km, and in 2015 the Company
targets the length of its toll roads to increase to 620.5 km and given the toll road concession of Medan-
Kuala Namu-Tebing Tinggi that has been secured by the Company, the length of the Toll Roads after
becoming fully operational will reach 799.5 km.
166 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Marketing Strategies and Market ShareMarketing StrategiesThe Company continues to strive to grow its
business through adding the length of its long road.
Efforts are made through the acquisition of toll road
concessions that is done through participating in
tenders held by the Government, the acquisition of
existing concessions owned by other parties as well
as proposing the construction of new toll roads that
are prospective (unsolicited).
The development of toll roads conducted by the
Company is always carried out within the framework
of investment which is financially feasible. The
Company tries to ensure that the new toll road
segments to be developed are connected with the
toll roads that have been in operation, therefore,
the traffic volume on the new toll road projects
can support the target on the return of investment
that has been set. In addition, the Company seeks
to become the majority owners in the subsidiary
companies so that the Company is in control in
integrating its business as a whole.
Market ShareIn order to maintain the position as market leader
in the operation of toll roads in Indonesia, the
Company has undertaken efforts to increase
the length of toll roads being operated by
developing new toll roads that are considered
financially feasible. The new toll roads operated
by the Company are prioritized for those that are
directly connected to the toll roads that have been
operated by the Company in order to provide
assurance for traffic volume on the new toll roads.
All new toll roads operated by the Company are
currently connected to the existing toll roads
that are already in operation. Bogor Ring Road
Toll Road is connected with Jagorawi Toll Road;
Semarang-Solo toll road connected with Semarang
Section A, B, C Toll Road; Serpong-Kunciran and
Kunciran-Cengkareng are connected with Jakarta-
Tangerang and Sedyatmo (Airport) toll roads;
Gempol-Pasuruan, Surabaya-Mojokerto and Gempol
Pandaan toll roads are connected with Surabaya-
Gempol Toll Road; JORR W2 North Toll road is
connected with JORR Toll Road, which has just been
in operation; and Medan-Kuala Namu-Tebing Tinggi
toll road network is connected with Belawan-Medan-
Tanjung Morawa toll roads, which have already been
operated previously.
Until today, the Company controls market share
of 72% of all toll roads that are operating in
Indonesia with a total length of 576 km of toll
roads. This number will continue to grow in line
with the operating of the planned three additional
toll roads in 2015, namely: Gempol-Pandaan,
Gempol-Rembang section of Gempol-Pasuruan
toll road and Krian-Mojokerto section of Surabaya-
Mojokerto toll road.
Cash Dividend Policy and PaymentThe Company’s policy is to give a dividend payout
with a minimum of 20%, however, as for the 2010
until 2014 financial year, the Company made
dividend payout of 60%, 40%, 40%, and 40%
respectively in line with the Company’s achievement.
The Company plans to maintain a dividend payout
level that can provide regular results or returns to
shareholders, but still allows the Company to utilize
most part of retained earnings to be reinvested
in the Company’s business activities. The amount
of dividend payout ratio is decided in the General
Meeting of Shareholders based on the proposal of
the Board of the Company.
167PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Dividend Payment for the Period of 2010-2014 (in billion Rp)
Description 2010 2011 2012 2013 2014
Net Profit 1,193.49 1,339.46 1,602.09 1,336.62*** 1,403.43 Amount of Dividend 716.09 535.78 640.83 534.53 ** Dividend Ratio 60% 40% 40% 40% **Payment Period 2011 2012 2013 2014 **Amount to be Paid 716.09 535.78 640.83 534.53 ** Dividend per Share 105.68 78.88 94.24 78.61 ** Date of Dividend Announcement 16 June 2011 11 May 2012 01 May 2013 13 March 2014 **Date of Dividend Payment 25 July 2011 21 June 2012 18 June 2013 23 April 2014 **
** To be determined at 2015 Annual General Shareholders Meeting*** Net Profit is restated
Amount of Dividend Dividend per Share Dividend Ratio
716
.09
105.
68
2010
535.
78
78.8
8
2011
64
0,8
3
94
.24
2012
534
,53
78.6
12013 2014
60
%
40
%
40
%
40
%
USE OF PROCEEDS
Use of IPO ProceedsThe net IPO proceeds received by the Company in 2007 reached Rp 3.36 trillion. Until the end of 2014, the
Use of IPO Proceeds has reached Rp 2.55 trillion, therefore the remaining Proceeds of the Public Offering
stood at Rp 816.11 billion. In line with the availability of land for construction, the amount of IPO proceeds
that had been used is 75.76% of the total net IPO proceeds of Rp 3.36 trillion. The IPO proceeds have been
used for Expansion, Refinancing and Working Capital.
Until 2014, the expansion of the Company in the form of capital injection in the Subsidiaries reached Rp 2.35
trillion. Capital injection into PT Marga Sarana Jabar for Bogor Outer Ring Road toll road reached Rp 179.02
billion, PT Trans Marga Jateng for Semarang-Solo toll road section is valued at Rp 1.30 trillion, PT Transmarga
Jatim for Gempol-Pasuruan toll road amounted to Rp 260.10 billion, PT Marga Kunciran Cengkareng toll
road for Cengkareng-Kunciran section amounted to Rp 135 billion, PT Marga Trans Nusantara for Kunciran-
Serpong toll road amounted to Rp 80.28 billion, and PT Marga Nujyasumo Agungl for Surabaya-Mojokerto
toll road amounted to Rp 394.00. Refinancing scheme is used to settle Jasa Marga Bond Series M, Year
2000 Bond amounted to Rp 150 billion. While the amount of Funds fused for Working Capital reached
Rp 52.65 billion.
168 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Use of IPO Proceeds as of Desember 31, 2013 and 2014 (in billion Rp)
Uraian 2013 2014
Amount of Public Offering Proceeds 3,468.00 3,468.00 Cost of Public Offering 101.45 101.45 Net Proceeds 3,366.55 3,366.55 Expansion 1,790.22 2,347.79
EQUITY ONTRIBUTION TO SUBSIDIARIES: PT Marga Sarana Jabar, Construction of Bogor Ring Road toll road 168.02 179.02 PT Trans Marga Jateng, Construction of Semarang-Solo Toll Road 851.19 1,299.40 PT Trans Marga Jatim, Construction of Gempol-Pasuruan Toll Road 200.10 260.10 PT Marga Kuncirang Cengkareng, Construction of Cengkareng- Kunciran Toll Road
114.81 135.00
PT Marga Trans Nusantara, Construction of Kunciran-Serpong Tollroad 62.10 80.28 PT Marga Nujyasumo Agung, Construction of Surabaya- Mojokerto Toll Road
394.00 394.00
Refinancing 150.00 150.00 Payment for Principal of Seri M Year 2000 Series M Bond 150.00 150.00
working Capital - 52.65 Total 1,940.22 2,550.44 Remaining Proceeds of Public Offering 1,426.33 816.11
USE OF BONDS PROCEEDS
Realization of the Use of the Proceeds of Jasa Marga XIV Series JV-10 Bond with Fixed Interest Rate and Jasa Marga I Series JM-10 Bond with Zero Coupon year 2010Jasa Marga Bond Company issued Series XIV JM-10 Bond with Fixed Interest Rate of Rp 1 trillion and Jasa
MargaISeriesJM-10BondswithZeroCouponamountingtoRp500billion.Theproceedsofthebond
issuances amounted to Rp 1.37 trillion. Until the end of 2014, 87.52% of the bonds net proceeds of Rp 1.37
trillion have been utilized. The proceeds of the bonds issuance are used for expansion, refinancing and
working capital.
In 2014, Rp 112.86 billion of the bonds proceeds were used for the expansion of property sector, namely
the development of the corridor areas of Toll Road and the development of Rest & Service Areas (TIP).
In the field of Engineering, Rp 15 billion were used for toll road maintenance and other construction. The
Refinancing was used for repayment of Series O Bonds issued in 2002 worth Rp 650 billion and the
repayment of investment credit to PT BCA Tbk amounting to Rp 400 billion. Whereas the use of working
capital for widening the Tomang-Tangerang toll road reached Rp 5 billion and the Improvement work for
Construction Stability of the Cipularang Toll Road amounted to Rp 24.41 billion.
169PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Realization of the Use of the Proceeds of Jasa Marga XIV Series JV-10 Bond with Fixed Interest Rate and Jasa Marga I Series JM-10 Bond with Zero Coupon, year 2010
(in billion Rp)
Description 2014
Amount of Public Offering Proceeds 1,385.03 Jasa marga XIV Series JM-10 Bond with Fixed Interest Rate 1,000.00 JasaMargaISeriesJM-10BondwithZeroCoupon 385.03
Cost of Bond Issuance 5.62 Net Proceeds 1,379.41 Expansion 127.86
In property sector, the development of Toll Roads corridor areas 112.86 In Information Technology & Communication - In Engineering, maintenance of toll roads and other construction 15.00
Refinancing 1,050.00 Full Settlement of Jasa Marga X Serioes O Year 2002 Bonds 650.00 Full Prepayment of Investment Loan to PT BCA 400.00
working Capital 29.41 Total 1,207.27 Remaining Bond Proceeds 172.14
Sustainable Bond I Jasa Marga Phase II year 2014 Series TThe Company issued Jasa Marga Bond I Phase II 2014 Series T valued at Rp 1 trillion. The proceeds of the
bond issuance amounted to Rp 997.05 billion. Until the end of 2014, 100% of the net bond proceeds has
been utilized. The fund proceeds, raised from the bonds offering, are used for expansion, refinancing and
working capital.
In 2014, the refinancing funds were used to make prepayment on the working capital loan to PT Bank
Mandiri (Persero) Tbk amounting to Rp 250 billion, an prepayment of working capital loan PT Bank Central
Asia Tbk amounting to Rp 47.05 billion and repayment of Jasa Marga Bond I Phase I, 2013 Series SA
amounting to Rp 700 billion.
Realization of the Use of Proceeds of Sustainable Bond I Jasa Marga Phase II year 2014 Series T
Description 2014
Total Proceeds of the Bonds Issued 1,000.00 Cost of the issuance 2.95 Net Proceeds 997.05 Refinancing 997.05
Prepayment of Working Capital Loan to PT Bank Mandiri Tbk 250.00 Prepayment of Working Capital Loan to PT BCA Tbk 47.05 Fully Repaying Sustainable Bond I jasa Marga Phase I year 2013 Series S, Series S-A 700.00
Total 997.05 Balance of the Bonds Issuance Proceeds 0.00
Material Increase/Decrease in Net Revenues in Relation to Sales Volume or New ServicesThe Net Income increase of the Company was attributable to the operation of a number of new toll roads
in the Subsidiary Companies which have started contributing revenues and the increase in toll road tariffs
in the fourth quarter 2014. In addition, the increase in traffic volume transactions that passed through the
Company’s toll roads are also the other contributing factors.
170 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Material Information on Investment, Expansion, Divestment and Acquisition and Debt/Equity RestructuringDuring the reporting period presented here (as
of December 31, 2014), the expansion undertaken
by the Company was through the establishment
of new Subsidiary, PT Jasamarga Kualanamu Tol
(JMKT). JMKT was established under Notarial
Deed No. 56 dated November 25, 2014 by Ni
Nyoman Rai Sumawati, SH, M.Kn., with a purpose
of developing the Medan-Kualanamu-Tebing Tinggi
toll road concession. The deed of establishment
of the Company was approved by the Minister of
Justice and Human Rights through Decree No. AHU-
36748.40.10.2014 2014, dated November 27, 2014.
The Company has 44,000 shares with par value of
Rp 1,000,000 (full amount) per share or equivalent
to Rp 44,000,000,000 (full amount), representing
55% ownership at 31 December 2014.
Information on Material Transaction with Conflict of Interest and/or Related Parties TransactionIn 2014 the Company has no Material Transaction
Information that contains Conflict of Interest and/or
Transactions with Affiliated Parties.
Changes in Legislation Significantly Affecting the CompanyIn 2014, there were no regulations that have
significant impacts on the Company.
Changes in Accounting Policies Significantly Affecting the CompanyThere is a Change in Accounting Policy, as described
in Note 44.h consolidated financial statements.
To adjust with the changes, the Company has
changed its accounting policy for JORR S Asset
which was written-off in May 2013. In addition, one
of the Company’s subsidiaries has also also made
accounting changes on recognition of expenses
and prepaid project cost. In accordance with PSAK
25, on “Accounting Policies, Changes in Accounting
Estimates and Errors”, the Company has restated its
consolidated financial statements for the year ended
December 31, 2013.
Changes to Statement of Financial Accounting
Standards (“PSAK”) and Interpretations of Financial
Accounting Standards (“ISAK”), the application
of the following changes in interpretation of
accounting standards, which became effective from
January 1, 2014, does not cause significant changes
on the Group’s accounting policies and does not
have a material impact on the amounts reported in
the consolidated financial statements:
• ISAK27(2013revision)on“Transferofassetsfrom
customers”
• ISAK28(2013revision)on“Terminationof
financial liabilities with equity instruments”
While the new standards, revisions and
interpretations that have been issued, but not yet
effective for the fiscal year beginning on or after
January 1, 2014 are as follows:
• PSAK1(2013revision)on“Presentationof
Financial Statements”
• PSAK4(2013revision)on“SeparateFinancial
Statements”
• PSAK15(2013revision)on“Investmentsin
associates and joint ventures”
• PSAK24(2013revision)on“EmployeeBenefits”
• PSAK46(2013revision)on“IncomeTaxes”
• PSAK48(2013revision)on“Depreciation”
• PSAK50(2013revision)on“FinancialInstruments:
Presentation”
• PSAK55(2013revision)on“FinancialInstruments:
Recognition and Measurement”
• PSAK60(2013revision)on“FinancialInstruments:
Disclosures”
• PSAK65on“ConsolidatedFinancialStatements”
• PSAK66on“JointArrangements”
• PSAK67on“DisclosureofInterestsinOther
Entities”
• PSAK68on“FairValueMeasurement
• PSAK26(2013revision)on“Reassessmentof
Derivative”
• WithdrawalofPSAK12(2009revision)on
“Interest in Joint Ventures”
• WithdrawalofISAK12on“JointlyControlled
Entity: Non-Monetary Contributions by Venturers”
• WithdrawalofISAK7on“ConsolidationofSpecial
Purpose Entities”
Revision, the new standards and the withdrawal of
the above standards will become effective in the
financial year starting January 1, 2015 and earlier
application is not permitted.
On ratification of the consolidated financial
statements, the Management is still evaluating the
possible impact of the adoption of the new SAK and
the revision of the consolidated financial statements.
171PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
The Company showed a positive financial performance in 2014 as indicated by several achievements reflected in the following financial indicators:
The Company’s assets reached Rp 31.86 trillion, increased 13.54% from the previous year. The increase in the Company’s assets is a consequence of a rise in investment activities, especially through the realization of the new toll road operations in 2014.
The Company generated revenues of Rp 6.65 trillion in 2014 from operating toll roads, representing an increase of 14.54%, mainly driven by the increase in traffic volume and toll rate increase for Prof. Dr. Ir. Sedyatmo and Cikampek toll roads in the fourth quarter, therefore the Company’s net margin reached 15.30%.
EBITDA ratio compared to Interest Expense reached 3.26 times. This condition shows that the Company is still within the corridor of Financial Limitation which is required by creditors and still maintains a strong financial condition.
In an effort to support the growth, the Company issued bonds amounting to Rp 1 trillion in 2014 by maintaining single digit coupon rate of 9.85% in the midst of relatively high bond interest rate market. The bond issuance is an attempt by the Company to lower the Weighted Average Cost of Debt. Until the end of 2014, with a fairly aggressive investment in toll road development, the Company’s debt to equity ratio stood at 1.79 times of the covenant, with a maximum of five times, and interest coverage ratio of 3.26 of a covenant, with a minimum requirement of 1.25. These condition still provides ample room for the Company to make additional investment in the development of Indonesian toll road based on the existing equity capital structure.
In 2014, the investment made by the Company resulted in interest expense of Rp 1.22 trillion, an increase of 28.71% from the year 2013. The Company was able to maintain long-term financial stability, therefore Financial Rating Agencies maintained the Company’s rating at the level of idAA (stable outlook).
EXECUTIVE SUMMARy OF FINANCE DIRECTOR REyNALDI HERMANSJAH
172 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
New Projects Development
173PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
22LENGTH OF TOLL
ROADS OPERATED IN 2014
Km
576TOTAL LENGTH OF OPERATING TOLL
ROADS
Km
72%
THE COMPANY’S MARKET SHARE BASED ON LENGTH OF TOLL
ROADS OPERATED
174 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
33 New Toll Road SectionsIn 2014, Jasa Marga has succeeded in operating three (3) new toll road sections: Semarang-Solo Toll Road, Section Ungaran-Bawen; Bogor Outer Ring Road Toll Road, Section 2A; and JORR W2 North Toll Road.
new toll roads
175PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
The Company’s effort to continue to have additional toll road concession rights was successful as the Company won the concession right for Medan-Kualanamu-Tebing Tinggi Toll Road of 61.70 km.
New Projects Development
At present, through its Subsidiary, the Company has additional ten (10) new toll road concessions. The
Company is the major shareholder of all Subsidiaries, which are the concession holder of the ten (10)
toll road sections. The percentage of the Company’s ownership at those Subsidiaries is shown in the
following table:
Percentage of Jasa Marga Ownership at Subsidiaries
No. Section Length Subsidiary Jasa Marga Ownership
1. (%) 11.00 km PT Marga Sarana Jabar 55.00
2. Semarang-Solo 72.64 km PT Trans Marga Jateng 73.90
3. Surabaya-Mojokerto 36.27 km PT Marga Nujyasumo Agung 55.00
4. JORR W2 North 7.70 km PT Marga Lingkar Jakarta 65.00
5. Gempol-Pasuruan 34.15 km PT Transmarga Jatim Pasuruan 97.20
6. Gempol-Pandaan 13.61 km PT Jasamarga Pandaan Tol 79.84
7. Nusa Dua-Ngurah Rai-Benoa 10.00 km PT Jasamarga Bali Tol 55.00
8. Cengkareng-Kunciran 14.19 km PT Marga Kunciran Cengkareng 76.15
9. Kunciran-Serpong 11.19 km PT Marga Trans Nusantara 60.00
10. Medan-Kualanamu-Tebing
Tinggi
61.70 km PT. Jasamarga Kualanamu Tol 55.00
TOTAL 272.45 km
as of 31 December 2014
176 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Transformation of Jasa Marga
Identity of the Company
Development of Toll Road BusinessDespite land acquisition delays, this year the Company has succeeded in adding two sections to its
operating toll roads, with the operation of Ungaran-Bawen Section of Semarang-Solo Toll Road, Section 2A
of Bogor Outer Ring Road Toll Road and JORR W2 North Toll Road.
The Company’s strategies in ensuring the accomplishments of the target of operating new toll road sections
focus on land acquisition progress. The Management has conducted various efforts such as coordinating
with land acquisition team, making persuasive approach to the people whose land ownership is revoked,
and forming Land Acquisition Acceleration Team for the purpose of achieving the land acquisition target
set by the Company. Although it has not reached the expected acceleration, the efforts have resulted in
positive impacts for the Company, as in 2014 the Company succeeded in operating additional 22 km of
three different sections.
The Company’s effort to continue to have additional toll road concession rights was successful as the
Company won the concession right for Medan-Kualanamu-Tebing Tinggi Toll Road of 61.70 km. With the newly
acquired concession, the Company presently has the concession right for toll roads in a total of 799.5 km.
Compared to 2013, as of the end of 2014, the progress of each toll road project is as follows:
Bogor Outer Ring Road Toll Road (PT Marga Sarana Jabar)
Bogor Outer Ring RoadLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Section 1 Sentul-Kedung Halang 3.85 100.0 100.0 100.0 100.0
Section 2A Kedung Halang-Kedung Badak 1.95 100.0 100.0 88.8 100.0
Section 2B Kedung Badak-Yasmin 2.05 - - - -
Section 3 Yasmin-Darmaga 3.15 - - - -
TOTAL 11.00
Bogor Outer Ring Road Toll Road (BORR), 11 km toll
road, is operated by PT Marga Sarana Jabar.
BORR connects Jagorawi Toll Road to the city of
Bogor. The significant economic growth of Bogor
city requires road infrastructure to facilitate the
transportation of goods and services. In view of this
potential, the Company is optimistic that BORR will
have a promising prospect in the future.
The development of BORR Toll Road is divided into
four sections. Section 1 Sentul-Kedung Halang, 3.85
km and Section 2A Kedung Halang-Kedung Badak,
1.95 km have started to operate since late 2009 and
mid 2014; whereas Section 2B and Section 3, as of 31
December 2014 were still in land acquisition stage.
177PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Semarang-Solo Toll Road (PT Trans Marga Jateng)
Semarang-SoloLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Section 1 Semarang-Ungaran 10.80 100.0 100.0 100.0 100.0
Section 2 Ungaran-Bawen 12.30 100.0 100.0 97.0 100.0
Section 3 Bawen-Solo 49.54 2.5 59.5 - -
TOTAL 72.64
location in supporting the country’s economy and
brings positive impact on Semarang Toll Road, the
Company is making every effort to complete and
operate the said toll road section.
The schedule of operation of Semarang-Solo
Toll Road is divided into three sections. Section 1
Semarang-Ungaran, 10.80 km has been operated
since 2011; and Section 2 Ungaran-Bawen, 12.30
km has been operated since early 2014. Meanwhile,
Section 3 Bawen-Solo, as of 31 December 2014
was still in land acquisition stage with the progress
of 59.5%.
Semarang-Solo Toll Road of 72.64 km is operated by
PT Trans Marga Jateng.
The toll road connects the city of Semarang,
the capital city of Central Java Province to the
city of Solo. Semarang-Solo Toll Road is part
of the Trans Java Toll Road network, which is a
business route that will connect two major cities
Jakarta and Surabaya. Semarang-Solo Toll Road
is also connected to Semarang Toll Road that
has been operated by the Company since 1983,
so the operation of Semarang-Solo Toll Road will
increase traffic volume on Semarang Toll Road.
As Semarang-Solo is located in a quite strategic
178 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Transformation of Jasa Marga
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Surabaya-Mojokerto Toll Road (PT Marga Nujyasumo Agung)
Surabaya-MojokertoLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Section 1A Waru-Sepanjang 2.30 100.0 100.0 100.0 100.0
Section 1B Sepanjang-Western Ring Road 4.30 69.8 84.5 6.9 29.2
Section 2 Western Ring Road-Driyorejo 5.10 37.7 41.8 - 60.5
Section 3 Driyorejo-Krian 6.10 54.8 60.5 - -
Section 4 Krian-Mojokerto 18.47 75.6 100.0 53.5 60.64
TOTAL 36.27
The 36.3 km Surabaya-Mojokerto Toll Road is
operated PT Marga Nujyasumo Agung.
Similar to Semarang-Solo Toll Road, Surabaya-
Mojokerto Toll Road is also part of Trans Java Toll
Road Network, business route connecting two
major cities Jakarta and Surabaya. Surabaya-
Mojokerto Toll Road is also connected to Surabaya-
Gempol Toll Road operated by the Company since
1986; hence the operation of Surabaya-Mojokerto
Toll Road will increase the traffic volume on
Surabaya-Gempol Toll Road. Given that Surabaya-
Mojokerto is located in a quite strategic location
in supporting the country’s economy and brings
positive impact on Surabaya-Gempol Toll Road, the
Company is making every effort to complete and
operate the said toll road section.
The operation of Surabaya-Mojokerto Toll Road is
divided into five sections. Section 1A-1 Waru-Juanda,
2.30 km, has been operated since 2011; whereas
Section 4 Kriyan-Mojokerto, 18.47 km, is under
construction; and Sepanjang-WRR, 4.40 km and
WRR-Driyorejo, 5.10 km are in land acquisition stage.
In 2015, the Company schedules to operate the 18.47
km Krian-Mojokerto Section.
SAMUDRA HINDIA
179PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
JORR W2 North Toll Road (PT Marga Lingkar Jakarta)
JORR W2 North Length(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Section 1 Kebon Jeruk-Ciledug 5.70 100.0 100.0 100.0 100.0
Section 2 Ciledug-Ulujami 2.00 98.0 100.0 47.3 100.0
TOTAL 7.70
JORR W2 North Toll Road, 7.70 km, is operated by
PT Marga Lingkar Jakarta.
JORR W2 North Toll Road is the missing link
on Jakarta Outer Ring Road Toll Road already
operated by the Company. The existence of JORR
W2 North is significant to ease the congestion on
Jakarta Inner Ring Road Toll Road, as JORR W2
North connects Jakarta-Cikampek Toll Road to
Jakarta-Tangerang Toll Road so the full operation
of JORR W2 North Toll Road will reduce the load of
traffic on Jakarta Inner Ring Road.
JORR W2 North Toll Road is fully operated since
mid 2014.
180 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Report
Transformation of Jasa Marga
Identity of the Company
Gempol-Pasuruan Toll Road (PT Trans Jatim Pasuruan)
Gempol-PasuruanLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Section 1 Gempol-Rembang 13.90 82.9 95.7 49.9 81.3
Section 2 Rembang-Pasuruan 8.10 - 69.2 - -
Section 3 Pasuruan-Grati 12.15 - - - -
TOTAL 34.15
Gempol-Pasuruan with the length of 34.20 km is a
toll road operated PT Trans Jatim Pasuruan
Gempol-Pasuruan Toll Road is part of Trans Java
Toll Road Network connecting Surabaya to the
crossing of Java and Bali Islands. The toll road is
also connected to Surabaya-Gempol Toll Road
already operated by the Company since 1986, so
the operation of Gempol-Pasuruan Toll Road will
increase traffic volume on Surabaya-Gempol Toll
Road. In view of the fact that Gempol-Pasuruan is
located in a quite strategic location in supporting
the country’s economy and brings positive impact
on Surabaya-Gempol Toll Road, the Company is
making every effort to complete and operate the
said toll road section.
The development of Gempol-Pasuruan Toll Road
is divided into three sections. Section 1 Gempol-
Rembang, 13.90 km, is scheduled to operate in
2015 whereas Section 2 Rembang-Pasuruan and
Section 3 Pasuruan-Grati are still in the stage of
land acquisition.
181PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Gempol-Pandaan Toll Road (PT Jasamarga Pandaan Tol)
Gempol-PandaanLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Gempol-Pandaan 13.61 99.0 99.0 83.5 98.3
Gempol-Pandaan Toll Road of 13.61 km is operated
by PT Jasamarga Pandaan Tol.
Gempol-Pandaan Toll Road connects the cities
of Surabaya to Malang. The characteristics of
Gempol-Pandaan Toll Road are similar to that of
Jagorawi Toll Road since Malang is a city with
tourism objects for the residents of Surabaya as
Puncak for the residents of Bogor. The operation of
Gempol-Pandaan Toll Road will ease the congestion
on arterial road especially during weekends. The
Company plans to operate Gempol Pandaan Toll
Road in 2015.
182 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Report
Transformation of Jasa Marga
Identity of the Company
Nusa Dua-Ngurah Rai-Benoa (Bali Mandara) Toll Road (PT Jasamarga Bali Tol)
Nusa Dua-Ngurah Rai-BenoaLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Nusa Dua-Ngurah Rai-Benoa (Bali Mandara)
10.00 100.0 100.0 100.0 100.0
Nusa Dua-Ngurah Rai-Benoa (Bali Mandara) Toll
Road of 10.00 km is operated PT Jasamarga Bali Tol.
Bali Mandara is the first toll road in Bali Island.
With significantly high level of congestion in Bali,
the operation of Nusa Dua-Ngurah Rai-Benoa Toll
Road is expected to reduce the traffic congestion.
Having been constructed for approximately 1.5
years, Nusa Dua-Ngurah Rai-Benoa Toll Road has
been operated since 2013. This proves that the
Company is capable of developing toll road ahead
of schedule when land acquisition is not an issue
and this was shown in the development of Nusa
Dua-Ngurah Rai-Benoa Toll Road.
Kunciran-Cengkareng Toll Road (PT Marga Kunciran Cengkareng)
Kunciran-CengkarengLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Kunciran-Cengkareng 14.19 4.2 22.8 - -
The 14.19 km Kunciran-Cengkareng Toll Road is
operated by PT Marga Kunciran Cengkareng.
Part of Jakarta Outer Ring Road II, Kunciran-
Cengkareng Toll Road is located in the western
part of Jakarta. Kunciran-Cengkareng Toll Road will
distribute the highly congested traffic of Jakarta.
As of 31 December 2014, Kunciran-Cengkareng Toll
Road is still in the stage of land acquisition.
183PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Kunciran-Serpong Toll Road (PT Marga Trans Nusantara)
Kunciran-SerpongLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Kunciran-Serpong 11.19 8.1 26.3 - -
Kunciran-Serpong Toll Road of 11.19 km is operated
by PT Marga Trans Nusantara.
Part of Jakarta Outer Ring Road II, Kunciran-
Serpong Toll Road is located in the western part of
Jakarta. Together with Kunciran-Cengkareng Toll
Road, Kunciran-Serpong Toll Road will distribute the
highly congested traffic of Jakarta.
As of 31 December 2014, Kunciran-Serpong Toll
Road is still in the stage of land acquisition. Although
the progress of land acquisition is not yet optimal, in
the last months of 2014, the progress increased quite
significantly.
Medan-Kualanamu-Tebing Tinggi Toll Road (PT Jasamarga Kualanamu Tol)
Medan-Kualanamu-Tebing TinggiLength(km)
Land Acquisition(%)
Construction(%)
2013 2014 2013 2014
Medan-Kualanamu-Perbarakan 17.80 - 83.0 - 18.0
Perbarakan-Lubuk Pakam 4.85 - 83.0 - -
Lubuk Pakam-Tebing Tinggi 39.05 - 83.0 - -
TOTAL 61.70
with facilitating the movement of people heading to
the Airport as well as the city of
Tebing Tinggi.
At the moment, MKTT is still in the land acquisition
stage and the toll road is scheduled to fully operate
in 2017.
In 2014, the Company succeeded in winning the
concession of Medan-Kualanamu-Tebing Tinggi Toll
Road (MKTT). MKTT connects the city of Medan,
Kualanamu Airport and Tebing Tinggi. The Company
is optimistic that going forward, MKTT will be able
to speed up the distribution of goods, services along
184 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Report
Transformation of Jasa Marga
Identity of the Company
Development of Non-Toll Road BusinessIn order to further increase the use of its assets, the Company conducts business diversification to increase
the Company’s operating revenues and support its core business.
The 2014 non-toll revenues rose by 14.74% compared
to that of 2013.
The strategies applied by the Company have
proven quite effective in increasing Other Operating
Revenues, as in the past five years, Other Operating
Revenues has grown by 100.4%.
Growth of Other Businesses 2010-2014
20142013201220112010
583.
10
508.
20
143.
47
146
.31
72.4
8
CAGR: 100,4%
PROSPECT OF NON-TOLL ROAD BUSINESSLGoing forward, the Company will still focus most on toll road operation and development strategies. Non-toll
road business development focuses on supporting the abovementioned strategies; hence in the future, non-
toll road business development will focus on Toll Road Maintenance Services, Toll Road Operating Service,
and Property.
PERFORMANCE OF NON-TOLL ROAD BUSINESS DEvELOPMENTIn 2014, Non-Toll Road Business Development
was supported by Toll Road Maintenance Service,
Toll Road Operating Service, Land Rent for
advertisements, and Rest and Services Areas.
185PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
As its effort to continue to grow and develop while maintaining its position as the market leader of toll road industry in the country, the Company continues to add to its toll road concessions.
In 2014, the Company succeeded in having additional concession right of 61.7 km toll road by winning the tender for Medan-Kualanamu-Tebing Tinggi Toll Road. The additional concession brings the Company’s toll road concessions to a total of 799.5 km.
The Company continuously makes the efforts to have additional toll road concession rights by means of acquisition, tender, as well as unsolicited method. Furthermore, to participate in boosting the growth of regional economy, the Company also actively seeks the development of new toll roads, particularly those located in Java and Sumatera Islands while also taking part in studying the toll road development in Kalimantan and Sulawesi.
In 2014, the Company succeeded in operating new toll road sections, i.e. Semarang-Solo Toll Road, Section Ungaran-Bawen (12.30 km);
Bogor Outer Ring Road Toll Road, Section Kedung Halang-Kedung Badak (1.95 km); and JORR W2 North Toll Road (7.70 km), bringing the total toll roads operated by the Company to reach 576 km as of the end of 2014. The Company is still capable of maintaining its position by dominating 72% of the total operating toll roads in Indonesia.
Amidst the uncertainty of land acquisition, the Company continues to make the efforts in the development of its new toll road sections, i.e. Gempol-Pandaan, Surabaya-Mojokerto, Gempol-Pasuruan, Medan-Kualanamu, Kualanamu-Tebing Tinggi, Semarang-Solo and Bogor Outer Ring Road Toll Roads, hence reflected in the increase of the Company’s assets amounting to Rp 31,857.95 billion in 2014 representing growth by 13.54% compared to that of 2013.
In order to increase operating revenues, the Company also develops other businesses in the field of rest area management, toll road operating services, and toll road maintenance services. In 2014, other operating revenues reached Rp 583.10 billion or rose by 14.74% from that of 2013.
ExECUTIvE SUMMARY OF BUSINESS DEvELOPMENT DIRECTORABDUL HADI Hs.
186 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Transformation of Jasa Marga
Identity of the CompanyConnectivity
SUMATERA
JASA MARGA’S 18 OPERATINGTOLL ROAD SECTIONSAND 5 NEW TOLL ROAD SECTIONS CONNECTING 6 PROvINCES AND MAJOR CITIES IN JAvA, SUMATERA AND BALI
ISLANDS WITH INCREASING TRAFFIC vOLUME
West Java
Bali North Sumatera
BElAwAn PoRT
KUAlAnAMU AiRPoRT
MEDAn
*Traffic Volume in million vehicles
1
6 107 8 9 1211
1
4 5
2 3
East Java3
BoRR
• Bogor Outer Ring Road
• 11.00 km• 37 thousand
vehicles/day
Surabaya-Gempol
• Surabaya - Gempol
• 49.00 km• 227 thousand
vehicles/day
Gempol-Pasuruan
• Gempol - Pasuruan
• 34.15 km• Not yet
operated
Purbaleunyi
• Purwakarta-Bandung - Cileunyi
• 122.90 km• 181 thousand
vehicles/day
Surabaya-Mojokerto
• Surabaya - Mojokerto
• 36.27 km• 33 thousand
vehicles/day
Gempol -Pandaan
• Gempol-Pandaan
• 13.61 km• Not yet
operated
Belmera
• Belawan-Medan-Tanjung Morawa
• 42.70 km• 69 thousand
vehicles/day
Medan - Kualanamu - Tebing Tinggi
• Medan-Kualanamu-Tebing Tinggi
• 61.70 km• Not yet
operated
nusa Dua-ngurah Rai- Benoa
• Nusa Dua-Ngurah Rai- Benoa
• 10.00 km• 39 thousand vehicles/day
Palikanci
• Palimanan-Kanci
• 26.30 km• 54 thousand
vehicles/day
4 5
Central Java2
Semarang
• Semarang• 24.75 km• 131 thousand
vehicles/day
2013 2014
82.
87
81.
69
2013 2014
48.
12
48.
86
2013 2014
25.
39
24
.05
2013 2014
19.
93
20
.19
2013 2014
13.
68
12.
52
2013 2014
12.0
5
11.2
6
2013
3.2
9
2014
14
.31
Semarang-Solo
• Semarang-Solo• 72.64 km• 43 thousand
vehicles/day
2013 2014
66
.35
63.9
1
2013 2014
15.5
6
6.5
8
187PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Jakarta-Bogor-Tangerang-Bekasi
JASA MARGA’S TOLL ROADS SUPPORTTHE INTEGRATION OF MULTI-MODETRANSPORTATION NETWORK SYSTEM TO SUPPORT THE MOvEMENT OF PEOPLE AND SERvICES
Jagorawi
• Jakarta- Bogor-Ciawi• 59.00 km• 551 thousand
vehicles/day
Jakarta-Tangerang
• Jakarta-Tangerang
• 33.00 km• 328 thousand
vehicles/day
JiRR
• Jakarta Inner Ring Road
• 23.55 km• 565 thousand
vehicles/day
Prof. Dr. ir. Sedyatmo
• Jakarta-Airport
• 14.30 km• 209
thousand vehicles/day
Jakarta-Cikampek
• Jakarta- Cikampek• 83.00 km• 564
thousand vehicles/day
JoRR
• Jakarta Outer Ring Road
• 43.10 km• 415 thousand
vehicles/day
Ulujami-Pondok Aren
• Ulujami- Pondok Aren• 5.55 km• 123 thousand
vehicles/day
Kunciran -Serpong
• Kunciran-Serpong
• 11.19 km• Notyet
operated
JoRR w2 Utara
• Kebon Jeruk- Ulujami• 7.70 km• 39 thousand
vehicles/day
Kunciran - Cengkareng
• Kunciran-Cengkareng
• 14.19 km• Not yet
operated
JAwA
BAli
SoEKARno-HATTA
AiRPoRT
JAKARTA
BAnDUnG
SEMARAnG
SURABAYA
JUAnDA AiRPoRT
nGURAH RAi AiRPoRT
MERAK PoRT
TAnJUnG PRioKPoRT
TAnJUnG MAS PoRT
TAnJUnG PERAK PoRT
TAnJUnG BEnoA PoRT
13 15 17 1916 18 20 21 22
6
2013
199.
61
2014
20
1.32
2013
202.
21
2014
206
.13
2013
283
.09
2014
282
.81
2013 2014
19
6.7
6
193
.64
2013 2014
119
.83
113
.02
2013 2014
14.4
9
14
151.
63
146
.72
2013 2014
45.1
2 46
.91
2013 2014
188 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
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Human Capital Management
189PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
JASA MARGA FUTURE LEADER
COMPETENCY- BASED HUMAN
RESOURCES MANAGEMENT
TRANSFORMATION
OF
HUMAN CAPITAL
190 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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191PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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In order to realize the vision and Mission of the Company to become a leading company, the Company has undertaken “HUMAN CAPITAL TRANSFORMATION” integratedly and comprehensively as part of the “COMPANY ORGANIZATIONAL TRANSFORMATION”
Human Capital Management
The year of 2014 was the initial phase of the
implementation of the Integrated Human Capital
System, namely the integration of Performance
Management System, Remuneration System
and Career Management System to improve the
competence and performance of employees as
the main asset of the Company in its successful
business endeavor.
Transformation of Human CapitalThrough the application of the new paradigm, which
considers Human Resources (HR) as Human Capital,
the Company positions HR as an element that
must be managed properly so that it can become
a capital to improve business performance of the
Company in the long term in a sustainably way.
The management of human capital is based on the
Company’s HR System Strategic Planning 2010-
2022, with development phases as shown in the
following graphic:
Stages of Development of Jasa Marga Human Capital System
Transition i2010-2013
Short Term
Transition ii2013-2017
Medium Term
Ultimate2017-2022
long Term
Strengthening HR Foundation
Building Performance
optimizing HR Capabilityfor Business Growth
192 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management Report
Transformation of Jasa Marga
Identity of the Company
The Company is developing competency-based human resources management with the 9 (Nine) Strategic
Processes of Human Capital System which is set forth in the Board of Directors’ Stipulation No. 39/
KPTS/2014 dated March 3, 2014, which consisted of Organizational Design, Employee Recruitment and
Selection, Training and Development, Performance Management, Remuneration System, Career and Talent
Management, Industrial Relations and Post Employment Management, which are integrated and supported
by Information Technology System, as can be seen in the following chart:
Nine Strategic Processes of Jasa Marga Human Capital System
STRATEGiC PlAnninG
CHAnGinG oF STRATEGiC EnViRonMEnT& GRowTH oF Toll RoAD inDUSTRY
BUSinESS PERFoRMAnCE
SATiSFACTion AnD loYAlTY oF STAKEHolDERS
inFoRMATion TECHnoloGY
Co
MP
ET
En
CE
Employment Environment
HC Admin &Services
Co
MM
iTM
En
T
Co
ST
Co
nG
RU
En
CE
Remuneration
Training and Development
Employee recruitment and
selection
Post-Employment Management
industrial Relation
Carrier Management
ViSion & MiSSion
VAlUES & PARADiGM
oRGAnizATionAl DESiGn 9 Strategic Processes of Human
Capital System1. Employment Environment2. Employee recruitment and
selection3. Training and Development4. Performance Management5. Remuneration6. Carrier Management7. Industrial Relation8. Post-Employment
Management9. HR Administration & Services
In accordance with the Human Capital Systems
Development Stages of Jasa Marga, in 2014 the
Company entered the Building Performance
stage, where the focus of the Human Resources
program was the stratification of organization as
the basis of other systems and the integration of the
Performance Management System, Remuneration,
and Career Management System.
Organizational ImprovementAfter the restructuration of organization in 2013 to
change the organization of Jasa Marga to become
the Operating Holding Company, then as a series
of Organization Transformation and Transformation
of Human Capital, in 2014 PT Jasa Marga took step
to improve the Company’s organization in terms of
Grouping, Stratification and Position Requirements as
set forth in the Board of Directors’ Stipulation No. 41/
KPTS/2014 dated March 3, 2014.
The Classification, Stratification, and Identification
of positions are carried out in accordance with the
mission of the organization in order to ensure that
employees who hold certain positions can work to
reach an optimum performance in carrying out the
mission, responsibility and authority of the position.
The changes in the classification and stratification
of the positions affect the remuneration package of
employees, whereas the change in the identification
of positions is linking directly with the improvement
of the employee’s career path.
Performance Management
193PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
CHANGE OF POSITION CLASSIFICATION CHART
PREvIOUS POSITION CLASSIFICATION
Structural
Position Classification
Senior Vice President/Senior General Manager/Executive/General Manager
I a
Corporate Secretary/Head/Vice President/General Manager
II a
Assistant Vice President/Senior Manager/Deputy General Manager/Coordinator
III a
Manager IV aHead of Toll Gate V aHead of Shift VI a
Functional
Position Classification
Senior Advisor I aAdvisor/Senior Auditor II aSenior Specialist/Auditor III aSpecialist/Junior Auditor/President Director Secretary/Senior Treasurer IV a
Assistant Manager/Director Secretary/Treasurer V aSenior Officer/Assistant Treasurer/VP/GM Secretary/Officer for Information and Communication Service VI a
Toll Collector/Toll Road Service Officer/Rescue Officer/Paramedic Staff/Information and Communication officers/Technic staffs
VII b, VII c, VII d, VII e
Officer/Toll Gate Officer/Operator of heavy equipment VII aMessenger/Driver VIII a
NEW POSITION GROUPS
Position Grade
Corporate Secretary/ Head/ Vice President/ General Manager/ Kepala Unit Bisnis
E
"Assistant Vice President/ Senior Manager/ Deputy General Manager"
1
Manager 2
Position Grade
Senior Advisor F
Advisor/ Senior Auditor
Senior Specialist/ Auditor/ Pengajar Profesional
1
Specialist/ Junior Auditor/ Pengajar Profesional Junior
2
Position Grade
President Dir. Secretary/ Senior Treasurer
2
Assistant Manager/ Assistant Auditor/ Director Secretary/ Treasurer
3
Senior Officer/ Assistant Treasurer/ Secretary
4
Officer/ Inspector/ Toll Gate Officer/ Security/ Facility Officer
5
Driver/Messenger M
Position Grade
Head of Toll Gate O1
Head of Shift O2
Toll Collector/Toll Road Service Officer/Rescue Officer/Ambulance Officers
O3
Driver for Toll Road Service /Rescue/Ambulance
P
Structural Functional Experts Functional Staffs Operational
Group of structural positions, consisting of Planning and Policy post, Support implementation post and Business implementing post
Group of non-structural posts who are in charge of conceptual works and in-depth analysis
Kumpulan jabatan non struktural yang melaksanakan pekerjaan yang bersifat konseptual dan klerikal
Group of positions who carries out works for operational of the company, consists of:• The post for Operational
Leader• Positions in charge of
Operations
194 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Manpower Planning and Recruitment
MANPOWER PLANNINGIn the efforts of realizing the vision and mission
as well as long-term strategic goals, related to the
use of human resources effectively and efficiently
and within the corridor of expected efficiency and
productivity ratio, then the estimated maximum
number of employees and workers for the long term
is set in a document called Manpower Planning.
Therefore, a review has been done on Manpower
Planning as reference in the preparation of Staffing
Plan and Recruitment Plan.
MANPOWERPLANNING
Adding Factor
Balancing Factor
• Vision & Mission• Organizational Structure
Planning• Strategic Planning• HR System Development• Employees Post-Employment• Employees Age Demography• Employees Productivity Target• IT-Based Implementation
ILLUSTRATION OF MANPOWER PLANNING
MANPOWER RECRUITMENTBased on the review on Manpower Planning, the
Company carried out new employee recruitment
program in 2014 as a preparation to replace
employees who have the retirement age as well as
to support the Company’s business development
in toll road and non-toll road. Recruitment of
new employees is the first gate of preparing new
cadres of competence human resources of the
Company therefore the Management undertook a
diligent and professional process.
Management has established a system of
recruitment and selection of new employees in the
Company Regulations which uphold the principles
of transparency, objectivity, and selective..
• Transparency
The implementation of the transparency principle
is carried out through the announcement
program of recruitment and selection of new
employees to various media outlets that can
be easily accessed by the general public. The
Company utilizes various communication media
in announcing the recruitment and selection
program for new employees, including through
the Company’s official website, that is www.
jasamarga.com, cooperate with newspapers that
are circulating on national scale, BUMN portals,
the Company’s official twitter, online media,
posters and career development programs at a
number of top universities in Indonesia.
• ObjectiveTo maintain objectivity and independence, the
Company is cooperating with an independent
consultant who has the experience and
competence in the field of recruitment and
selection of new employees. The selection
process of the consultant is done through
the procurement of goods and services that
has specified in the Company Regulations
to uphold the principles of good corporate
governance (GCG).
• SelectiveThe selection process is done through 6 phases,
therefore the Company expects to get the best
candidates who successfully pass the competitive
selection process. The selection of candidates is
merely based on the results of the selection and the
Company upholds the principle of equality where
the applicants come from various ethnics, regions,
religions, race and gender.
In 2014, the Company has recruited 100
new employees.
Chart of the Process of Preparing New Employees
Recruitment
Advance Selection
initial SelectionTrial of new Employees
(3 months)
orientation(3 months)
Placement(3 months)
3 months 3 months 3 months
New Employees Preparation ProgramManagement Trainee
ManpowerPlanning
internal Sources
External Sources
195PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Employees Performance and Competency Development
COMPETENCY MODEL OF HUMAN RESOURCE DEvELOPMENTAs an implementation of the concept of Competency Based Human Resources Management
(CBHRM), the human resources development is based on an improvement of employee
competence. Therefore, the Company has formulated a competency model which is equipped
with a Competency Dictionary which is a combination of hard skills and soft skills that should
be possessed by each individual based on the needs of each unit of competency. Competency
Dictionary was created through the issuance of Board of Directors Stipulation No. 183/KPTS / 2013
dated December 24, 2013.
Chart of Competency Based Human Resources of Jasa Marga
LEADERSHIP COMPETENCIES
• Team Leadership• Decisiveness
TECHniCAl CoMPETEnCiES
(SPECiFiC)
CoRE CoMPETEnCiES
JoB CoMPETEnCiES
Hard Competency
Har
d C
omp
eten
cySo
ft C
omp
eten
cy • Achievement Orientation• Continuous Learning• Building Partnership• Integrity
Customer Service Orientation
BusinessAcumen
1. IT Skill2. Communication Skill3. Organization Knowledge4. English Profiency5. Risk of Awareness6. Kesadaran mengenai Sistem Keselamatan Kerja (K3)7. Quality Management8. Service Standard9. Strategic Program Execution
Technical Competencies (General)
Soft Competency
• Information Seeking • Organizational Commitment • Organizational Awareness • Interpersonal Understanding• Teamwork
• Analytical Thinking• Concern for Order• Impact & Influence • Initiative• Conceptual Thinking
HR EDUCATION AND TRAINING In order to prepare the Human Capital of Jasa Marga to encounter future business challenges
through a formal education program, the Company implements a policy of providing Employee
Scholarship to improve the knowledge and the employees ability to conduct analysis, synthesis
and innovations.
The Company has selected the candidates for the scholarships who are young and have the
potentials with a maximum age of 30 years to take part in the Scholarship 2014-2015 program,
which is specifically prepared by the Company as one of programs to prepare Future Leaders of
Jasa Marga. Based on the selection process, 5 employees have been shortlisted who are eligible to
take the Master’s program in overseas well-known universities.
196 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
To realize the strategic plan of the Company, the Company realizes the importance of grooming the
cadres as future leaders of the Company. The Company since 2009 has been preparing the “Future
Leader of Jasa Marga” through carrying out Leadership Development Program which consists of 5
levels of the program.
LEADERSHIP DEvELOPMENT PROGRAM
CORPORATELeadership
Individual Leader
Team Leader
Functional work unit leader
Division/Branch/Project/Business Unit
Leader
Company Leader
Subsidiaries SOEs
Training Program Focus
Leadership
SENIORLeadership
ADVANCELeadership
JUNIORLeadership
inDiViDUAl
TEAM
LEVELFUnCTionAl
BUSinESS
CoRPoRATE
Age 26
Age 32
Age 40
Age 28
Age 36
Age 45
BASICLeadership
Personality
Trust & Team Work
HRD & Monitoring
Performance& Changes
Ethic & Communication
Targeted Participants Assistant Manager level of VP/GM
Directors of Subsidiarylevel of Manager
level of AVP/DGM
The education and training of employees are conducted by Jasa Marga Development Center Unit as a
learning center. In 2014, the training program for employees focused on the following areas:
• Development of technical and non-technical competencies of employees in accordance with job
requirements.
• Stand-alone program which is equal to training, including sharing knowledge activities, study visits,
creating a journal, and others.
• Cadres Scholarship, which is scholarship program offered to the young and potential employees.
In the year 2014, the Company has set a target of training days per employee, with the realization of a
number of 3.7 days of training per employee. The number of days of training and the trainees during the
year 2014 are presented in the following table:
Trainings Conducted by the Company in 2013 and 2014
Explanation
2013 2014Number of days per person
Number of participants
Number of programs
Number of days per person
Number of participants
Number of programs
Leader Cadres 940 235 11 278 74 4
Development of Competence 8,468 3,501 325 4,000 1,653 52
Training on Values, Ethics and & Corporate Culture 5,352 2,541 74 6,132 2,761 292
Professional Standards 309 151 29 787 94 20
Stand-alone Program equals to Training - - - 6,042 5,111 264
Scholarships - - - 135 20 4
TOTAL 15,069 6,428 439 17,376 9,715 638
197PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Training Based on Number of Days
6.24%
35.52%56.19%
2.05%
0.00%
0.00%
Leader Cadres
Training on Values, Ethics and & Corporate Culture
Development of Competence
Professional Standards
Stand-alone Program equals to Training
Scholarships
1.61%
23.02%
34.77% 0.78%
4.53%
35.29%
2013 2014
Training Based on Number of Participants
Leader Cadres
Training on Values, Ethics and & Corporate Culture
Development of Competence
Professional Standards
Stand-alone Program equals to Training
Scholarships
2.35%
0.00%
0.00%
28.42%
2013 2014
54.46%
39.53%
3.66
52,61%
17.01%
0,97%
0.78%
0.21%
Training Based on Number of Programs
0.00%
0.00%Leader Cadres
Training on Values, Ethics and & Corporate Culture
Development of Competence
Professional Standards
Stand-alone Program equals to Training
Scholarships
0.94%
2013 2014
74.03%
2.51%
16.86%
6.61%
3.13%
41.38%
45.77%
8.15%
0.63%
EMPLOYEES PERFORMANCE MANAGEMENT SYSTEMPerformance management system aims to ensure that employees carry out their works as well as contribute
to the achievement of the Company’s goals optimally in accordance with the goal of the post and the key
performance indicator target.
The Company is implementing the performance management system on two sides, namely the evaluating
the achievement of Key Performance Indicator (KPI) and the achievement of competencies, so that the
assessment is fair in which employees are not only assessed based on key performance targets (KPI) but
also appreciate the employee’s efforts in achieving the performance (competence).
198 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Employees Performance Management System
• Cascading by theme• SKK by Cascading + PI decided by
both parties• Half year basis• Evaluating not assessing• Varied tasks• Active employees and evaluator
• Based on attitude seen• Assessment 360º• Once a year
• Daily/shift basis• SKK by procedure and IK• Automation• Similar and routine tasks• Active evaluator• SKK template from SK• Highly measured performance
• Based on performance attitude available data
• Assessment of direct superior• Once a year in 2014, daily in 2015
PERFORMANCE
COMPETENCY
Soft Competency
Employees Performance Management System
Non-Operational Employees
ENTERPRISE RESOURCE PLANNING (ERP)
ENTERPRISE RESOURCE PLANNING (ERP)
ELECTRONIC OPERATIONAL PERFORMANCE APPRAISAL (eOPA)
ELECTRONIC OPERATIONAL PERFORMANCE APPRAISAL (eOPA)
Operational Employees
The stages of the performance management
system is a systematic cycle which consists of
Employee Work Target (SKK) planning, SKK
review and Coaching as well as performance
evaluation. During the planning stage, the
employee and supervisor set the agreed targets
to be achieved. The targets are then reviewed
in mid-period in which the supervisor provides
feedback during the review and coaching. In
the final stage, which is the period to evaluate
the performance achievement, the supervisor
evaluates the attainment of the targets that have
been agreed in advance. All stages are managed
through an integrated performance management
system online.
The results of the performance evaluation and
competency measurement are very important
because they are integrated with remuneration,
career opportunities and employee training
development programs. As for remuneration
of employees, the Company established a
policy salary increase (merit increase) based
on the results of performance evaluation and
competency measurement. In addition, the
results of performance evaluation also affects
the incentives to be by the employees. With this
policy, the employees are encouraged to attain
the best performance in order to obtain higher
remuneration as well.
As for the carrier opportunities, the competency
requirements are set for each position. One of
the sources to fulfill the competence is known
from the results of the competence assessment.
The competency assessment result is also used
in the planning and development of employee
training needs.
199PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Implementation of Employee Performance Management System in 2014
Jan Mar JunFeb MayApr Jul Aug Sep novoct Dec Jan Feb
Cascade KPi
SKK Coaching CoachingEvaluation EvaluationSKK
Period i Period ii
Planning week(17-21 March 2014)
Coaching week(5-9 May 2014)
Evaluating week(7-11 June 2014)
Planning week(18-20 Aug 2014)
Coaching week(6-10 oct 2014)
Evaluating week(2-6 Feb 2015)
EMPLOYEES CAREER DEvELOPMENTIn line with the development of the Company’s
business which continues to grow through the
establishment of Subsidiaries, both those engaging
in toll road and non-toll, has been providing
opportunities for employees of Jasa Marga to
develop their carrier. The increasing number of
officials in a strategic positions who are approaching
retirement ages, apart from becoming a challenge
for the Management to create a reliable cadre
system, the condition also creates opportunities for
potential employees to advance their carrier.
The Company has set up a system in selecting
candidates who will occupy a position through the
recruitment and selection process that is selective
and competitive, which is based on the principle of
fairness. The length of work in the Company is no
longer a dominant factor. It is the competency that
plays an important role.
The recruitment process is done by selecting
the candidates who meet the administrative
requirements in accordance with the rules of the
Company. Based on the Directors Stipulation No.
42/KPTS/2012, the candidates must go through the
selection process as follows:
1. Assessment to measure soft competencies
needed to hold a particular position as set
out in the Company’s competency dictionary.
In measuring the soft competencies, the
Management cooperates with the competent
and independent assessment institution
which is selected based on the procurement
of goods and services in accordance with the
rules of the Company.
2. Achievement, assessment on track record of
performance during the working period.
3. Aspiration, a candidate is asked to make a
proposal if he or she is projected to occupy a
particular position and must present it to the
appraiser. This is an effort to assess the ability
of the candidate to communicate his ideas both
orally and in writing as well as to argue and
express his or her opinion.
4. Prospect, an assessment of the impact of the
placement to the candidate personally and to his
or her family and the Company.
The progress of an employee’s career path through
promotion and rotation in 2013 and 2014 can be
seen in the following table:
200 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Employee Carrier Development in 2013 and 2014
Carrier Development
Working Areas
TotalHead Office Branch Offices &
Projects Subsidiary
2013 2014 2013 2014 2013 2014 2013 2014
Promotion 29 54 58 110 8 16 95 180Rotation 29 85 97 287 7 20 133 392Total 58 139 155 397 15 36 228 572
The year of 2014 is a transition period for the implementation of Carrier Management System,
in which the Company has improved the competency-based career management system and
develop it through Position Cluster approach. The new career management system as set forth
in Board of Directors Stipulation No. 100/KPTS/2014 dated June 16, 2014 will be implemented
from 2015.
JOB CLUSTERS AS BASIS FOR CARRIER MANAGEMENT SYSTEM
Board of Directors
Executive leaders
Co
rpo
rate
Pla
nnin
g
Mar
keti
ng
Log
isti
c
Ris
k, Q
ualit
y an
d C
om
plia
nce
Gen
eral
Ser
vice
s
Info
rmat
ion
Tech
nolo
gy
Ass
et M
anag
emen
t
Hum
an C
apit
al D
evel
op
men
t
Hum
an C
apit
al E
xecu
tio
n
Leg
al
Land
Pro
cure
men
t
Ro
ad P
roje
ct M
anag
emen
t
Hig
hway
and
Tra
ffice
Eng
inee
ring
Toll
Ro
ad O
per
atio
n M
anag
emen
t
Toll
Ro
ad M
anag
emen
t
Bus
ines
s D
evel
op
men
t
Co
mm
unic
atio
n R
elat
ion
Fin
ance
Acc
oun
ting
Aud
it M
anag
emen
t
Ad
min
istr
atio
n
Aud
it F
unct
iona
l
Co
mm
unit
y D
evel
op
men
t
22 Job Clusters
1. Executive Leaders2. Corporate Planning3. Business Development4. Land Procurement5. Road Project Management6. Highway & Traffic Engineering7. Toll Road Operation Management8. Toll Road Maintenance9. Marketing10. Communication Relation11. Logistic12. Finance & Accounting13. Risk, Quality and Compliance14. Audit15. Information Technology16. Legal17. Human Capital18. Asset Management19. General Services20. Administration21. Corporate Social Responsibility22. Operational
Group Cluster STRATEGIC PLANNING
Group Cluster MARKETING &COMMUNICATION
Group Cluster COMPLIANCE
Group Cluster OFFICE SUPPORT
Group Cluster TOLL ROADOPERATION & ENGINEERING
Group Cluster FINANCE &Supply Chain Management
Group Cluster BUSINESS SUPPORT
operational
Toll Gate operation Road User Services
POLICY ON EMPLOYMENT OPPORTUNITIESThe policies on employment opportunities, both on employee placement and carrier
development are outlined in the Joint Working Agreement (Perjanjian Kerja Bersama/PKB).
Jasa Marga appoints employees to certain positions and develops their carrier selectively and
transparently without discrimination (gender, race, ethnicity, religion), by prioritizing the internal
sources of the Company by considering the employees performance, ability and competence.
201PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Employees Welfare
EMPLOYEE REMUNERATIONIn order to assure certainty of attractive and competitive remuneration so as to maintain the
loyalty and improve employees’ motivation to attain optimum performance, in 2014 the Company
restructured the employee remuneration system. The employee income mechanism is done by
setting a market-based salary structure, in addition to the increase of salary and incentives based on
the achievement of employee performance.
The change of employees’ income arrangement from previously based on the years of service
with table system to a performance-based system with salary structure is based on market rate,
and complying with the provisions of applicable employment regulations. The increase in annual
salary and incentives is based on the achievement of the employees’ performance. The employee
remuneration is determined based on the Board of Directors Stipulation No. 99/KPTS /2014 on the
Clustering and Components of Remuneration and No. 122.1/KPTS/2014 on Monthly Compensation for
Permanent Employees.
The Company establishes and guarantees the rights of employees as shown in the following chart:
Employees Rights
Remuneration
Compensation
Monthly Annual Competence Development Job Facilities Workplace
Protection Appreciation
Fixed
Tetap Tetap Tetap
Tetap
TetapTetap Tetap
variable variable
Benefits
Basic Salary, Job Compen-sation
Employee Education & Training
Traffic Incentive, Overtime
Official Uniform, Official Travel Facilities, Transportation & Communication, Company-owned HouseProduction
service, Bonus, Long Term Incentive
Workplace Environment, Implementation of K3 and Work Opportunities, Legal Protection, Health facilities, Post Employment Program
Carrier Opportunities, Formation, Promotion, Position Change, talent management, Employee appreciation, Recreation, Sport & Arts, Holidays
202 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
APPRECIATION TO EMPLOYEESThe Company gives awards for performance, execution of task, innovation or improvement and appreciation
for the loyalty of employees.
To give appreciation to the employees who have worked for a certain period of employment, the Company
gives awards for years of service to employees. Throughout 2014, gratuity given to 691 employees who have
exceeded the service life of 10, 15, 20, 25 and 30 years.
Jasa Marga Employees Loyalty Award 2014
Number of Years in Service Number of Award Recipients
10 Years 20
15 Years 93
20 Years 119
25 Years 307
30 Years 152
TOTAL 691
As for employees who work in the Company until they reach normal retirement age, in 2014 the Company
presented awards in the form of precious metals to 139 employees who have entered retirement age.
Number of EmployeesThe number of permanent employees in the Parent Company in 2014 reached 4,692 people, down 3.75%
compared with the number of permanent employees in 2013. The total consolidated employees in the Parent
Company and its subsidiaries in 2014 also decreased by 7.32% from 2013.
Employee Composition Based Education (people)
Education
2013 2014
Parent Subsidiary Total Proportion (%) Parent Subsidiary Total Proportion
(%)
S3 1 0 1 0,01 1 0 1 0.01
S2 70 45 115 1,27 86 10 96 1.14
S1 500 241 741 8,17 464 318 782 9.30
Diploma 17 58 75 0,83 13 111 124 1.47
High School 4,210 3,796 8,006 88,25 4,067 3,224 7,290 86.72
Junior High School 17 37 54 0,60 23 43 66 0.78
Primary School 60 20 80 0,88 38 10 48 0.57
TOTAL 4,875 4,197 9,072 100,00 4,692 3,716 8,408 100.00
203PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Composition of Employees Based on Functions (people)
Function
2013 2014
Parent Subsidiary Total Proportion (%) Parent Subsidiary Total Proportion
(%)
Operational 1,566 3,885 5,451 60.09 3,222 3,298 6,519 77.55
Non Operational 3,309 312 3,621 39.91 1,470 418 1,888 22.45
TOTAL 4,875 4,197 9,072 100.00 4,692 3,716 8,408 100.00
Composition of Employees Based on Gender (people)
Gender
2013 2014
Parent Subsidiary Total Proportion (%) Parent Subsidiary Total Proportion
(%)
Male 3,816 3,418 7,234 79.74 3,661 3,039 6,700 79.69
Female 1,059 779 1,838 20.26 1,031 677 1,708 20.31
TOTAL 4,875 4,197 9,072 100.00 4,692 3,716 8,408 100.00
Composition of Employees Based on Ages (people)
Ages
2013 2014
Parent Subsidiary Total Proportion (%) Parent Subsidiary Total Proportion
(%)
≤25 35 2,290 2,325 25.63 16 1,272 1,288 15.32
26-30 83 735 818 9.02 91 1,156 1,247 14.83
31-35 283 251 534 5.89 185 379 564 6.71
36-40 1,023 291 1,314 14.48 914 166 1,080 12.84
41-45 1,162 344 1,506 16.60 1,078 318 1,396 16.60
46-50 1,375 177 1,552 17.11 1,383 245 1,628 19.36
≥51 914 109 1,023 11.28 1,025 180 1,205 14.33
TOTAL 4,875 4,197 9,072 100.00 4,692 3,716 8,408 100.00
commitments of Jasa Marga is to give freedom to
employees to organize themselves through the Jasa
Marga Employee Union (hereinafter called SKJM)
which was established in 1999 whose members are
all employees of Jasa Marga.
On regular basis of every two years, the Company
together with SKJM jointly prepares and renews
the joint agreement in the form of Joint Working
Agreement (PKB). In 2014, Company and SKJM
has succeeded in formulating and negotiating
Industrial Relations ManagementThe harmonious relationship between management
and employee union is needed to create a
conducive working atmosphere in order to achieve
the common goal, namely the progress of the
Company and welfare of employees. In an effort
to create and maintain harmony between the
company and the employees, the Management is
always attentive and committed to comply with
labor laws, issued by the government. As one of
204 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
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Management Report
Transformation of Jasa Marga
Identity of the Company
a deal to discuss the Joint Working Agreement
(PKB) for the period of 2014-2016. The result of
the PKB agreement provides working direction
for both employees and the management. The
agreement has been registered at the Manpower
and Transmigration Ministry’s Directorate General
of Industrial Relations and Social Security Jakarta
based on the Stipulation of the Director General of
Industrial Relations and Social Security No. KEP.138 /
PHIJK-PKKAD / PKB / VIII / 2014 on Registration of
Joint Working Agreement between PT Jasa Marga
(Persero) Tbk. with the Jasa Marga Labor Union
dated August 25, 2014.
Mutual agreement of the Company and subsequent
SKJM arranged in a hand book PKB and
distributed to all employees. Management and
SKJM then formed a team and jointly socialized
the aggrement to the branches. Socialization
was conducted in November-December 2014 that
all levels of employees have the knowledge and
understanding together.
To establish a harmonious relationship with
employees, especially related to labor issues
and policies of the Company, and maintain
communication with the Labour Union was formed
Bipartite Cooperation Institute (LKS-bipartite).
Stewardship bipartite arrangement consisting
of elements of management and the Company
with a term of 1 year. LKS-bipartite established
through joint decision between the Director of
the Company and Chairman of the Central Board.
In 2014, the material covered EMC focuses on
changes in the new human resources management
system, particularly related to the restructuring of
remuneration.
Management of Post-Employment ProgramIn order to assure a sense of comfort and
safety to employees at workplace, Jasa Marga
provides benefits to employees if they have
reached retirement age. This is done to provide a
sustainable income after the end of the working
period in Jasa Marga.
The following programs provided to employees if
they have reached retirement age:
a. Pension PlanJasa Marga's employees participate in the Fixed
Benefit Pension Plan (Program Pensiun Manfaat
Pasti/PPMP) and Fixed Contribution Pension
Plan (Program Pensiun Iuran Pasti/PPIP). The
PPMP program is organized by Jasa Marga
Pension Fund (DPJM) which was established by
the Company. The PPMP program is provided
to all employees who began working in the
Company prior to July 1, 2014. While the PPIP
program managed by the Financial Institutions
Pension Fund (DPLK) are participated by all
employees who began working at the Company
since July 01, 2014.
b. Post-Employment ProgramThis program is given to employees in which
they get benefits when they stop working at the
normal retirement age by receiving 24 x PhDA,
while employees who stop at retirement age
and prior to entering the retirement age will get
benefits proportionately according to the rules
of the Company.
c. Pension Program (JHT) BPJS EmploymentThe Company registers all employees into the
Pension Program of BPJS Employment. The
contribution to JHT is calculated based on the
proportion of income paid at amount 2% by the
employee and 3.7% by the Company.
205PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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d. Health InsuranceThe benefits of health cover are in the form of
health facilities that will be received by retirees
as stated in the Company rules. With these
benefits, the retirees will feel comfort about
medical expenses that they need any time.
Management of Outsourced EmployeesThe Company complies with the applicable
regulations with regard to employment as
set under the Minister of Manpower and
Transmigration Regulation No.19 of 2012 on the
terms of requirements in the case of awarding
parts of works to other companies. The Company
has terminated the Outsourced Worker policy
while at the same time upholding the rights of
outsourced workers that are implemented by
the outsource service providers. The outsourced
workers who were working as toll collectors
at branch operations have been transferred
into permanent employees of the Company’s
subsidiary, PT Jalantol Lingkar Luar Jakarta.
The Company's success in managing the outsourced
manpower has become a benchmark and considered
as a good comparative study by other state-owned
companies, such as PT Perusahaan Gas Negara
(PGN) who conducted a comparative study at the
Company on June 3, 2014.
Employees ProductivityManagement is fully committed to always provide
reliable employees and contribute maximally
to support the achievement of the vision and
mission of the Company. The need of employees
both in term of quantity and quality are assessed
comprehensively through the Manpower Planning
document and taking into account the work
plan and business development of the Company.
The Human Capital Management System of the
Company is summarized in Nine Human Capital
Strategic Process Systems continued to be
improved in order to accelerate the development of
competencies of employees who are expected to
contribute a significant impact on the achievement
of the Company’s objectives.
The Company’s business development that requires
an increase in the number of personnel are still
controlled through the increased of competence,
prioritizing new employee recruitment for
regeneration of leader and improving the role of
information technology, especially in the automation
of toll transactions. Various measures of human
capital management has resulted in improving
employees’ productivity as seen in the increase
of ratio of the number of employees per revenue
with ratio of: 1 : Rp 695,649,150 in 2013 to 1 : Rp
859,835,180 in 2014.
Awards Related to Human Capital ManagementThe Company has received awards and recognition
from relevant institutions as well as from other
companies over Human Capital Transformation
conducted by the Company, including:• HR Excellence Award Award for HR
Transformation held by SWA Magazine.• HR Excellence Award in the category of Reward
Management held SWA Magazine.• The Award on Index Human capital Study -
Appreciation for Human Capital Management System Improvement, presented by Dunamis.
206 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Management of Human Capital TransformationTo ensure that the transformation process and the
implementation of the new system goes ahead as
planned, the socialization becomes an important
element so that all employees can understand
the importance of the transformation process
and jointly oversee the implementation of the
transformation. Thus, the possible resistance by
employees can be mitigated.
Various communication media are used intensively
in communicating the human capital transformation
process. The media outlets that are used, including
print and online media such as the Company's
internal portal, internal magazines, Info Toll journal,
banners informing the concept, process and
implementation of the new systems. The Company
provides information through these media outlets
about the number of employees who are taking part
in the transformation process.
The Management with the support of unit in
charge of Human Capital as the major driver of the
transformation process had formed a Task Force
which also involves employees from various work
units of the Company. The team becomes an agent
of change in enforcing the implementation of the
transformation and helps disseminate the program to
various levels of the employment units. All levels of
management and the Board of Directors continuously
convey the message of transformation in a variety
of formal and informal occasions. Even the Workers
Union are also involved in the preparation and
dissemination of the transformation system, therefore
there is cooperation in ensuring that the course of
transformation is implemented as planned.
The other important elements which also play a role in
the transformation process is the use of information
technology. Data and information management
system based on ERP (Enterprise Resource
Planning) continued to be improved in integrating
the new Human Capital Management System.
Cost for Human ResourcesIn line with the business development of the
Company’s Subsidiaries, which some have begun
operating in 2014 have an impact on the number
and qualifications of employees needed, although
most toll gates have been operating with Auto Toll
system. This contributed to the increase of Human
Resources cost in 2014. The increase in human
resources costs is also a result of the transformation
in the field of Human Capital management,
mainly due to restructuring/rearrangement of
remuneration systems, especially in the monthly
compensation. The cost Human Resources has
increased from Rp 1,332,206,243,000 in 2013 to Rp
1,490,061,327,000 in 2014.
As part of our commitment to improve the
competence of employees in order to create a
sustainable and capable leader, the Company's
actual cost of education and training in 2014
amounted to Rp 15,552,736,148. The employees’
development programs increase because in 2014
the Company has set a target to increasing the
employees’ competence evenly to all employees
with the imposition of the target for minimum
number of training days / year per employee.
However, as for the scholarship program and new
employee management trainee, the payment has not
matured yet until December 31, 2014.
Cost for Human Resources in 2013 and 2014(in full Rupiah amount)
Jenis 2013 2014
HR Costs 1,332,206,243,000 1,490,061,327,000
Costs for Education and Training
18,660,453,279 15,552,736,148
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The Management of Human Resources (HR) in 2014 was implemented in accordance with the stages of transformation system, namely carried out variety of changes that have been prepared in the previous stages. The Changes that have been realized in the year was the implementation of the 3 main HR system, namely: Performance Management System (since March 2014), Remuneration Management System (since July 2014) and the Career Management System (transition since October 2014). The implementation of these systems coupled with an increase use of the application of Information and Communication Technology (ICT) in administration and human resources services has encouraged employees to change the way they work to become more efficient and productive. In 2014, the PKB for period 2014-2016 has also been signed that covers agreements between the Management and Employees Union of Jasa Marga (SKJM) on July 23, 2014.
To ensure the competence by all employees improves, since 2014, every employee is given training target in the form of minimum number of training days per person per year. In the year, the Company in total has achieved 17,376 days.
In 2014, the number of permanent employees in the Parent Company reached 4,692 people, down 3.75% from 2013. The consolidated total employees in the Parent Company and its subsidiaries in 2014 also decreased by 7.32% from the year 2013. This is in line with HR policy to continue to reduce the formation of positions and carry out organizational restructuring that has
been done since the previous year. However, to support the Company's growth in the long term, the Company has recruited 100 people as new employees who have received undergraduate level (S1) as cadres of future leaders of the Company.
Various transformation efforts or changing of human capital system had resulted in several achievements, including an improvement in the level of employee satisfaction. Based on the employee engagement survey in 2014, the Engagement Ratio Index (ERI) reached 2.17, up from 1.97 in 2013.
The productivity of employees has also increased as reflected in the improvement of ratio on the amount of revenue per employee in 2014 to Rp 859,835,180/employee, from Rp 695,649,150/employee in previous year.
This transformation efforts are also recognized by various external parties. In the year, the Company received awards from various parties such as Human Capital Index Study Award 2014, The Best for Human Capital Initiative, HR Excellence Award 2014, HR Transformation category and Reward Management with Good grade, and Business Review - 2nd Best Corporation for Learning Organization of the Year.
Furthermore, the Company's long-term target is to prepare cadres of employees who are ready to lead and develop the Company's business in the era of globalization. Efforts that will be undertaken by the Company are including providing scholarships for S2 and S3 studies as well as leadership trainings with a focus on global acumen.
ExECUTIvE SUMMARY OF HUMAN CAPITAL AND GENERAL AFFAIRS DIRECTOR MUH NAJIB FAUZAN
208 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
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Identity of the Company
Corporate Governance
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JASA MARGA: GCG SCORE 96.63
“vERY GOOD”
JASA MARGA BERSIH (CLEAN)
PROGRAM: “COMMITTED”
SOE
GRATIFICATION RESTRAINT WITH KPK
210 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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*Berdasarkan hasil penilaian BUMN Bersih dan Assessment GCG 2014
211PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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The Company has always been committed to and made innovations in the implementation of Good Corporate Governance, resulting in its success of being named “COMMITTED” SOE in the BUMN BERSIH (Clean SOEs) Program 2014 and reached GCG assessment score of 96.63 or “vERY GOOD”
Corporate Governance
Jasa Marga Commitment to GCG Implementation2006 2010 2011
Statement of GCG Implementation
Statement of Risk Management Policy
Statement of Commencement of Whistleblowing System
Implementation
2012 2013 2014
Jasa Marga Clean Commitment Between the Management and
Jasa Marga Labor Union
Program on the Commitment to Control Gratification witnessed
by Corruption Eradication Commission (KPK)
Signing of an Integrity Pact in every start of the year by all Elements of Jasa
Marga and in every Procurement of Goods and Services
212 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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In 2014, Jasa Marga continues to improve the implementation of Gratification Control in cooperation with
the Corruption Eradication Commission (KPK) as an embodiment of Gratification Control Program (PPG).
The implementation of this program refers to the schedule for implementing the Jasa Marga Gratification
Control Program.
Jadwal Kegiatan dalam Rangka Implementasi Pengendalian Gratifikasi Jasa Marga
No. Main Activities Detailed ActivitiesPelaksanaan
Estimated Time venue PIC1. Statement of Commitment to
ImplementGratification Control Program
•Preparing Draft of Commitment• Signing of Commitment
11 July 2013 Jasa Marga Head Office
Corporate Secretary
2. Appointment of Function/Unit in charge of Gratification Control(Gratification Control Unit)
Review of Jasa Marga Directors Decision No. 187/KPTS/2011 on Guidelines for Gratification Control, especially to confirm that Corporate Secretary as the Gratification Control Unit which handles the controlling of gratification (receive and submit Gratification report to KPK)
July-September 2014
Jasa Marga Head Office
Corporate Secretary
3. Strengthening Organs
Terms Conducting Technical Workshop to draft Ruling on Gratification Control and Mechanism for processing Gratification Report (20 people).
28-29 October 2013
Meeting Room of Jagorawi Branch
Corporate Secretary
Dissemination/Focus Group Discussion (FGD) of DraftRegulation on Gratification Control and Mechanismfor Preparing the Gratification Report.Approving the Review Result about rules on Controlling Gratification and Function/Unit which Manages Gratification Control
September 2014 Jasa Marga Head Office
Corporate Secteraty
Declaring Code of Ethics Already existed, last revised in 2013Position Analysis To be prepared by Gratification Control Program TeamPreparing other related rules:i. Ruling on Whistleblowing System (Optional) Already existed
since December 2011 and last revised in January 2013
Jasa Marga Head Office
Corporate Secretary
ii. Ethic Commission to Process breaking of Human Capital Services Division Ethics by Employees and Management
Human Capital Services Division
HR (Agent of Change)
Appointment of Candidates for Training of Trainers (ToT) Participants on Gratificationi. Submission of List of ToT Participants October 2014 Jasa Marga Head
OfficeJMDC and Corporate Secretary
ii. Determining Candidates for ToT ParticipantsToT on Gratification (20 people) October-
November 2014Bandung
4. Socialization/ Dissemination of Gratification and Terms for Gratification Control.
Online Dissemination December 2014Internal and External Socialization December
2014-March 2015Jasa Marga Head Office, Branch Offices, Subsidiaries and External (GMS)
Corporate Secretary
5. Monitoring and Evaluation. Evaluation on the Implementation of Gratification Control Program/PPG (Review of System/Rules/Observation)
Q2, 2015
Objectives of GCG Implementation at Jasa MargaTo create a highly competitive company and continues
to grow, Jasa Marga has and continues to develop the
structure and system of Corporate Governance (GCG)
by referring to the principles of GCG in accordance with
the terms and regulations as well as best practices.
The implementation of GCG is based on the
Regulation of the Minister of State Enterprises
No. PER-01/MBU/2011 dated August 1, 2011 on the
Implementation of Good Corporate Governance in
SOEs with the latest change, namely the Regulation
of the Minister of State Enterprise No. PER-09/
MBU/2012, which states that “SOEs are required to
implement the company’s operations by adhering to
GCG principles, namely transparency, accountability,
responsibility, independence and fairness”.
Based on the Code of Corporate Governance as set
out in the Directors Decision No. 174/KPTS/2013
dated December 17, 2013, the purposes of the
implementation of GCG in Jasa Marga are as follows:
The purpose of the Implementation of GCG in
Jasa Marga:
1. Control and provide direction about the
relationship between shareholders, Board of
Commissioners, Directors, Employees, Toll Road
Users/Customers, Business Partners, Creditor/
Investor, as well as Community and Environment.
2. Encourage and support the development, managing
risks of the company more prudently, accountable,
and responsible in line with the principles of GCG.
213PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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3. Maximizing the value of the Company that the
Company has strong competitiveness, both
nationally and internationally.
4. Empower the function and independence of
each Organ of the Company.
5. Encourage the management of the Company
in a professional, effective and efficient way to
achieve the Company’s vision and mission.
6. Encourage managers of the Company to
make decisions and perform actions based
on high moral values and compliance with
the applicable laws and regulations as well as
awareness of corporate social responsibility.
7. Increase accountability to stakeholders.
8. Prevent the occurrence of irregularities in the
management of the Company.
9. Improving the Company’s corporate culture.
10. Improving the image of the Company, which is
getting better.
11. Increase the contribution of the Company in
the national economy.
LEGAL BASIS OF GCG IMPLEMENTATION AT JASA MARGAJasa Marga has a full commitment and consistently
implements GCG by referring to some formal rules
which have become the basis for the Company in
implementing GCG, namely:
1. Laws of the Republic of Indonesia, among
them are:
a. The Law of the Republic of Indonesia No.
14 of 2008 on Freedom of Information.
b. Law of the Republic of Indonesia No. 11
of 2008 on Information and Electronic
Transactions.
c. Law of the Republic of Indonesia No. 40
of 2007 on Limited Liability Companies.
d. Law of the Republic of Indonesia No. 38 of
2004 on Road.
e. Law of the Republic of Indonesia No. 19 of
2003 on SOEs.
f. Law of the Republic of Indonesia No. 15 of
2002 on Money Laundering as amended
by the Act of the Republic of Indonesia
No. 25, 2003.
g. Law of the Republic of Indonesia No. 20 of
2001 on the Amendment of the Law of the
Republic of Indonesia No. 31 of 1999 on
Corruption Eradication.
h. Law of the Republic of Indonesia No. 8 of
1995 on the Capital Market Law No. 14 of
1992 on Traffic.
2. Government Regulations, namely:
a. Government Regulation No. 45 of 2005
on the Establishment, Monitoring and
Dissolution of State-Owned Enterprises.
b. Government Regulation No. 15 of 2005 on
the Toll Road.
c. Government Regulation No. 12 of 1998
regarding Limited Liability Company
(Persero), j.o. Government Regulation No.
45 of 2001.
3. Decree of the State Minister for State Owned
Enterprises, among others:
a. Decree of the Minister of State-Owned
Enterprises No. Kep-104/MBU/2002 on
the Assessment of Candidates for the
Directors of State-Owned Enterprises.
b. Decree of the Minister of State-Owned
Enterprises No. Kep-102/MBU/2002 on
Preparation RJPP.
c. Decree of the Minister of State-Owned
Enterprises No. Kep-101/MBU/2002 on
the preparation of RKAP (Work Plan &
Budget).
d. Decree of the Minister of State-Owned
Enterprises No. Kep-100/MBU/2002 on
Evaluation of the Healthy Level of State-
Owned Enterprise.
e. Decree of the Minister of State-Owned
Enterprises No. Kep-09A/MBU/2002 on
the Assessment about the Fit and Proper
Candidates for the Directors of the State-
Owned Enterprises.
4. Regulation of the State Minister for State
Owned Enterprises, among others:
a. Regulation of the Minister of State
Enterprises No. PER-03/MBU/02/2015
dated February 17, 2015 on the
requirements, procedures for the
appointment and dismissal of members of
the Directors of State Owned Enterprises.
214 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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b. Regulation of the State Minister for State-
Owned Enterprises No. PER-12/MBU/2012
about the Supporting Organs of BOC/
Supervisory Board of the State Owned
Enterprises.
c. Regulation of the Minister of State
Enterprises No. PER-03/MBU/02/2015
dated February 17, 2015 on the
requirements, procedures for the
appointment and dismissal of members of
the Board of Commissioners and the Board
of Trustees of State Owned Enterprises.
d. Regulation of the State Minister for
State-Owned Enterprises No. PER-03/
MBU 2012 on Guidelines for Appointment
of Members of the Directors and Board
of Commissioners in the Subsidiaries of
State Owned Enterprises.
e. Regulation of the State Minister for State-
Owned Enterprises No. PER-01 /MBU/2011
on the Implementation of Good Corporate
Governance (GCG) In State-Owned
Enterprises with the latest changes
Ruling State Minister for State Owned
Enterprises No. PER-09/MBU/2012 on the
Amendment to Regulation of the State
Minister for State-Owned Enterprises No.
PER-01/MBU/2011 Concerning Application
of Good Corporate Governance (GCG) In
State-Owned Enterprises.
f. Regulation of the State Minister for
State-Owned Enterprises No. PER-
04/MBU/2014 on Guidelines for
Determination of Income of Directors,
Board of Commissioners, and the
Supervisory Board of the State Owned
Enterprises.
g. Regulation of the State Minister for
State-Owned Enterprises No. PER-05/
MBU/2008 on Procurement of Goods and
Services for State Owned Enterprises, with
the latest changes, namely No. PER-15/
MBU/2012 dated September 25 of 2012.
h. Regulation of the State Minister for
State-Owned Enterprises No. PER-05/
MBU/2006 on the Audit Committee for
State-Owned Enterprises.
5. Regulations of the OJK, as follows:
a. Decision of the Chairman of Bapepam
and LK No. Kep-413/BL/2009 dated
November 25, 2009, Bapepam-LK No.
IX.E.2 on Material Transactions and
Change of Main Business Activities.
b. Decision of the Chairman of Bapepam and
LK No. Kep-412/BL/2009 dated November
25, 2009, Bapepam-LK No. IX.E.1 on
Affiliate Transactions and Conflicts of
Interest on Certain Transactions.
c. Decision of the Chairman of Bapepam
and LK No. Kep-496/BL/2008 dated
28th November 2008, Bapepam No. IX.I.7
on Establishment and Guidelines for the
Charter of the Internal Audit Unit.
d. Appendix of the Chairman of Bapepam-
LK No. Kep-179/BL/2008 dated May 14,
2008, Rule No. IX.J.1 on the Principles of
Articles of Association of the Company
who made a Public Offering of Equity
Securities and Public Amendment.
e. A copy of the Decision of the Chairman of
Bapepam-LK No. Kep-134/BL/2006, Rule
No. XK6 on the obligation Submission of
Annual Report to Issuer or Public Company.
f. Decision of the Chairman of Bapepam
No. Kep-45/PM/2004, Bapepam No. IX.I.6
of Directors and Board of Commissioners
of the Issuer and Public Companies.
g. Decision of the Chairman of Bapepam
No. Kep-29/PM/2004, Bapepam
Regulation No. IX.I.5 on the Establishment
and Guideline on the Implementation of
the Audit Committee.
h. Decision of the Chairman of Bapepam
No. Kep-40/PM/2003, Bapepam
Regulation No. VIII.G.11 on Responsibilities
of Directors over Financial Statements.
i. Decision of the Chairman of Bapepam No.
Kep-36/PM/2003 dated 30 September
2003,
Regulation No. X.K.2 on Obligation to
Submit Periodic Financial Statements.
j. Decision of the Chairman of Bapepam
No. Kep-27/PM/2003 dated July 17, 2003,
Regulation No. X.K.4 about reports on the
Utilization of Proceeds from Public Offering.
k. Decision of the Chairman of Bapepam No.
Kep-554/BL/2010 dated December 30,
2010 on the Amendment to the Chairman
of Bapepam No. Kep-06/PM/2000 dated
March 13, 2000 on the amendment of
Bapepam No. VIII.G.7 on Guidelines for
the Presentation of Financial Statements.
215PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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l. Decision of the Chairman of Bapepam
No. Kep-86/PM/1996 dated January 24,
1996, Bapepam No. X.K.1 on Disclosure of
Information for has to be announced to
the Public.
m. Decision of the Chairman of Bapepam No.
Kep-63/PM/1996 dated January 17, 1996,
Bapepam Regulation No. IX.I.4 on the
Establishment of the Corporate Secretary.
n. Decision of the Chairman of Bapepam
No. Kep-60/PM/1996 dated January 17,
1996, Regulation No. IX.I.1 on the Plan
and realization of General Meeting of
Shareholders.
o. Decision of the Chairman of Bapepam No.
Kep-38/PM/1996 dated January 17, 1996,
Regulation No. VIII.G.2 on Annual Reports.
6. Articles of Association of PT Jasa Marga
(Persero) Tbk which was published in the
Supplement No. 27 404 of the State Gazette
of the Republic of Indonesia on December 12,
2008 No. 100, subsequently it was amended by
the Deed of the Extraordinary General Meeting
of Shareholders No. 33 dated April 5, 2011 were
made before Adi Poerbaningsih Warsito, SH.,
Notary in Jakarta, as has been approved by
the Minister of Justice and Human Rights of
the Republic of Indonesia with decision No.
AHU-20288.AH.01.02 in 2011 dated April 21,
2011, and last amended by the Deed of General
Meeting of Shareholders Extraordinary No.
95 dated June 21, 2012 were made before Adi
Poerbaningsih Warsito, SH., Notary in Jakarta
and has received a letter of acceptance
notification from the Directorate General of
Law Administration of the Ministry of Justice
and Human Rights No. AHUAH.0.10-25313
dated July 10, 2012.
7. Board Manual of the Board of Commissioners
of PT Jasa Marga (Persero) Tbk.
8. Board Manual of Directors of PT Jasa Marga
(Persero) Tbk.
9. Decision of the Directors of PT Jasa Marga
(Persero) Tbk. No. 41/KPTS/2013 on the
Organizational Structure of PT Jasa Marga
(Persero) Tbk.
10. Decision of the Directors of PT Jasa Marga
(Persero) Tbk No. 174/KPTS/2013 dated
December 17, 2013 of the Code of Corporate
Governance (the Code of Corporate
Governance) of PT Jasa Marga (Persero) Tbk.
11. Decision of the Directors of PT Jasa Marga
(Persero) Tbk. No. 175/KPTS/2013 dated
December 17, 2013 of the Code of Conduct of
PT Jasa Marga (Persero) Tbk.
12. Decision of the Directors of PT Jasa Marga
(Persero) Tbk. No. 186/KPTS/2011 dated
December 7, 2011 on Guidelines on Conflict of
Interest (Conflict of Interest) at PT Jasa Marga
(Persero) Tbk.
13. Decision of the Directors of PT Jasa
Marga (Persero) Tbk. No. 09/KPTS/2013
dated January 16, 2013 on Guidelines of
Whistleblowing System of PT Jasa Marga
(Persero) Tbk.
14. Decision of the Directors of PT Jasa Marga
(Persero) Tbk. No. 183/KPTS/2014 dated
October 22, 2014 on Guidelines for Handling
Gratification of PT Jasa Marga (Persero) Tbk.
15. Decision of the Directors of PT Jasa Marga
(Persero) Tbk. No. 60/KPTS/2009 on the
Division of Duties and Authorities of the
Directors of PT Jasa Marga (Persero) Tbk with
amendments, namely the Decree of Directors
of PT Jasa Marga (Persero) Tbk No. 199/
KPTS/2011.
16. Decision of the Directors of PT Jasa Marga
(Persero) Tbk. No. 197/KPTS/2011 on Guidelines
for the Implementation Meeting of the
Directors of PT Jasa Marga (Persero) Tbk.
17. Decision of the General Meeting of
Shareholders (AGM) that are listed in the
Minutes of the AGM.
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Identity of the Company
SOCIALIZATION AND INTERNALIZATION OF GCGIn addition to the improvement of the rules, the Company also continued the socialization and
internalization of GCG to all Jasa Marga employees to ensure adherence to good corporate
governance practices. The Company believes that GCG implementation is not enough just by
complying with the various regulations, but it must also be demonstrated in everyday practice.
The Company believes that by implementing GCG, the confidence of the stakeholders can be
maintained and the Company was determined towards Good Corporate Citizen.
Road Map GCG Jasa Marga
Sug
ges
tio
nB
ench
mar
k
Preparation Program
Elaboration:1. Vision & Mission
2. RJPP
2005GCG
implementation Kick off
Support:1. Decision letter
of the Directors no. 77/2005
2. GCG Ethics3. Business Ethics and
work Ethics4. Statement ofCorporate intent5. Board Manual
6. Compliance Report
GCGGood Corporate Governance
GCG implementation consistently and sustainably
GGCGood Governed Company
2005-2009
vALUE CREATION PROCESS
2010-2012 2013-2017
Meeting the terms and regulation (mandatory and voluntary) for
corporate governance
Ability to control business operation, in particular business
risks, effectively
Becoming an industry and social entity citizen which upholds ethics
and be responsible
GCCGood Corporate Citizen
1. Commitment for Gratification Program Control (PPG)
2. implementation of PPG in cooperation with KPK
3. Clean SoE Program4. E-Procurement5. implementation of
whistleblowing system6. GCG assessment based on
ASEAn Scorecard7. other innovations on GCG
1. Signing of integrity pact by all elements of Jasa Marga.
2. Review of Corporate Governance
3. Review of GCG Guidelines (CoCG, CoC, conflict of interest, gratification and whistleblowing system)
4. Commitment for Clean Jasa Marga
1. Signing of integrity pact by Management
2. Procurement of goods and services in the Company based on applicable regulations and terms set out.
Results of GCG Implementation AssessmentIn 2014, GCG assessment was conducted by an independent consultant which was selected
through the procurement of goods/services, by using two (2) parameters of assessment, namely
the parameters set by the Ministry of SOEs based on SK-16/S.MBU/2012 dated June 6, 2012 on
Indicators/Parameter on the Implementation and Evaluation of Good Corporate Governance
(GCG) In State-Owned Enterprises, as well as the parameters set by the ASEAN Scorecard.
217PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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The Company’s GCG Assessment Results in 2014
2002(BPKP)
2003(BPKP)
2004(BPKP)
2007(BPKP)
2010(SDP)
2011(Self
Assesment)
2012(SDP)
2013(Self
Assesment)
2014(SDP)
72.3
4
80.3
3
80.3
3
80.0
9
87.2
2
95.5
4
94
.6
95.0
1
96
.63
Note:In 2012, a new parameter on new assessment was launched, namely based on the SK-16/S.MBU/2012 dated June 6, 2012 on the Indicators/Parameters on Assessment and Evaluation over the Implementation of Good Corporate Governance (GCG) in State Owned Enterprises.
ASEAN SCORECARDJasa Marga follows the GCG Assessment conducted by the Indonesian Institute for Corporate
Directorship (IICD), which assesses the practice of corporate governance (CG) based on the
ASEAN CG Scorecard.
The assessment is based on public information, particularly on the Company’s annual report
and website. The results of the assessment showed that the total score of Jasa Marga reached
78.28%. The scores for each Scorecard components are as follows:
a. The rights of shareholders: 44%;
b. Equal treatment of the shareholders: 58.82%;
c. Role of stakeholders: 95.24%;
d. Disclosure and Transparency: 84.21%;
e. The responsibility of the Board: 71.21%; and Bonus: 6%.
Assessment on Clean SOE (Phase 1)Jasa Marga actively participates in SOE Clean Program organized by the Ministry of SOEs.
Based on the stages of the assessment carried out by BPKP Team, Jasa Marga obtained the
following results:
a. The Value perception/questionnaire score: 7.65
b. The value of internal effort/application documents at 9.37
218 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Identity of the Company
Therefore, Jasa Marga is declared as a “COMMITTED” SOE as shown in the following graph:
Grafik Penilaian BUMN Bersih Tahap 1
inte
rnal
Eff
ort
s fo
r ap
plic
atio
n D
ocu
men
t
Above 7.50
5.00 - 7.50
2.5 - 5.00
Up to 2.5
Up to 2.5 2.5 - 5.00 5.00 - 7.50 Above 7.50
Questionaire Perception
CommittedQuite CommittedLess CommittedNot Committed
Jasa Marga’s Position
Corporate Governance Perception Index (CGPI)Jasa Marga actively participates in the Program of Research and Ratings of the Corporate
Governance Perception Index (CGPI), which has been carried out routinely by The Indonesian
Institute for Corporate Governance (IICG) for 6 (six) times over the past six years with a different
theme. In 2014, the CGPI was conducted to assess for 2013, with a theme, “GCG from the
Perspective of Learning Organization”.
The assessment on CGPI follows several stages as follows:
1. Self-assessment
2. Document Completion
3. Preparing a paper.
4. Observation.
219PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Table Improvement of Jasa Marga’s CGPI Score
2008 2009 2010 2011 2012 2013
81.6
2 82.6
5 83.4
1
83.6
5 84.5
2
85.1
6
Based on the assessment of CGPI for 2013 which
was conducted in 2014, as mentioned above,
Jasa Marga managed to obtain rating of MOST
TRUSTED COMPANY with a higher score of 85.16.
STRENGTHENING THE IMPLEMENTATION OF JASA MARGA GCGIn understanding of good corporate governance,
Jasa Marga has basic principles, namely
encouraging good corporate governance as
part of the Company’s management through
the introduction of a system that reflects
the principles of information transparency,
accountability, equality and responsibility.
Jasa Marga has taken various initiatives in the
implementation of GCG, both initiatives that were
undertaken by the Company and initiatives that
are assisted by independent parties in achieving
sustainable corporate governance. In order to
strengthen the implementation of GCG in 2014,
Jasa Marga has made achievements through the
following programs, including:
1. Strengthening Commitment for GCG Implementation.This was done through the signing of the
Integrity Pact by all elements of Jasa Marga as
well as by all prospective goods and services
suppliers of the Company.
2. Socialization and Internalization of GCG.The activities undertaken were socialization
of GCG to the new employees, providing GCG
materials at the Toll Road Project Management
Training and socialization of GCG through
various media of the Company, as well as
participating in relevant GCG exhibition (Anti-
Corruption Day) organized by KPK.
3. Clean SOE Program.Jasa Marga proactively enrolls in the Clean SOE
Program since 2013. The first phase assessment
was conducted in 2014 by the Assessment
Team of BPKP. Jasa Marga was then declared
as a Committed State Owned Company (SOE)
in the SOE Clean Program.
4. Implementation of Gratification Control.As the continuation of the cooperation with
the Corruption Eradication Commission (KPK)
replicating the Gratification Control Program
commitment in 2013, Jasa Marga implemented
Gratification Control in accordance with the
schedule that has been submitted to KPK in
2014, as follows:
a. Training of Trainer for Gratification
Control for all VPs/GMs of the Head
Office and Branches.
b. Designate Gratification Control Unit in
the Company.
c. Circular Letter on Prohibition of
Gratification in the Company’s internal
and Advertising to Prohibit Gratification
in various Print Media as well as the
Company’s website.
d. Report the Gratifications that have been
received in relation to Religious Festivities.
e. Revise the Guidelines in Handling
Gratification as a follow up of the
Directors’ Decision No. 183/KPTS/2014,
dated October 22, 2014.
f. Management of Report on Gratification
that has been received by Jasa Marga’s
employees (outside Religious Festivities).
220 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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New Projects Development
Management Report
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Identity of the Company
5. Whistleblowing Management System.The management of Whistleblowing Management System is done in collaboration with independent
and experienced external parties. The Whistleblowing Management System team evaluates the
implementation of Whistleblowing System in the Company.
6. Participate Actively in various GCG Implementation Awards/Events.a. Participation in the Corporate Governance Perception Index (CGPI) Index in 2014 with the
achievement as HIGHLY RELIABLE COMPANY.
b. Participating in the Business Review Award (ABR) in 2014, in which the Company was presented
with the 1st rank for the Best GCG Implementation in the year of 2014.
7. Measurement of GCG Implementation.The activities undertaken were conducting self-assessment on GCG in 2013 and 2014 assisted by an
independent consultant which was selected through the procurement of goods/services mechanism.
The score obtained in 2014 based on the assessment parameters set by the SOE Minister was at
96.63 or EXCELLENT.
8. Implementation of ISO and SMK3In order to protect employees, Jasa Marga implementing OHSAS 18000, while to maintain the quality to
its customers, the Company implemented ISO 9001: 2008.
9. Performance MeasurementTo support the Company’s strategy and improve the performance of the Company, since 2008 the Company
has applied the Malcolm Baldrige scheme in 2012 before switching to KPKU which is a mandatory scheme
issued by the Ministry of State Enterprises. KPKU measures the performance of companies, as stated in the
Letter of the Ministry of State Enterprises No. S-153/S.MBU/2012 dated July 19, 2012 on the Performance
Report Based on Superior Performance Assessment Criteria (Kriteria Penilaian Kinerja Unggul/KPKU) of SOE.
Superior Performance Assessment Criteria (KPKU) is a comprehensive criterion in measuring the
performance of SOEs as well as guidance in order to improve the performance of SOEs, so that the SOE
can play a greater role in the prosperity of the nation. The results of KPKU of SOE in 2014, the Company
secured a total score of 603.25 or an Emerging Industry Leader level, where the process in some areas
still vary, the necessary emphasis on deployment is required, integration, continuity and learning.
KPKU Score 2009-2014
Notes:• Total Score of KPKU is 1000• In 2009: Internal Self-Assessment of Jasa Marga• In 2011: Assessment by IQAF• In 2012-2013: Assessment by SOE (KPKU)
2009 2010 2011 2012 2013 2014
537.
25 577.
00
60
3.25
486
.004
50.0
0
428
.00
10. Culture of InnovationTo build a culture of innovation, the Company implements continuous quality improvement
(Quality Improvement Group/KPM and Practical Improvement/PP) so that the quality culture can
be established intensively and in an integrated way. These are assessed every year during Quality
Assessment Event of Jasa Marga.
221PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Structure, Policy and Mechanism of Corporate Governance Implementation
GOvERNANCE STRUCTURE In accordance with Law No. 40 2007 Chapter I on General Provisions, Article 1, on the Organs of a
Company consist of General Meeting of Shareholders, Directors and Board of Commissioners.
• General Meeting of Shareholders (AGM) is a Company’s Organ that has the authority that is no
granted to the Directors or Board of Commissioners within the limits specified in the Law and/or
Articles of Associations.
• Directors is an Organ of the Company which is authorized and fully responsible for management
of the Company for the benefit of the Company, in accordance with the purpose and goals of
the Company and represents the Company, both in and out of court in accordance with the
provisions of the Articles of Association.
• Board of Commissioners is in charge of general supervision and/or special in accordance with
the Articles of Association and to provide advice to the Directors.
Jasa Marga already has a comprehensive governance structure, especially in the application of
corporate governance principles, as follows:
Governance Structure
GMS
Directors
Corporate Secretary
Risk and Quality Management
Divisioninternal Audit legal Division
GCG Compliance
Risk Management
investorRelations
Board of Commissioners
Audit Committee
Business Risk & investment Committee
222 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Identity of the Company
The Company’s Organs play a key role in the
successful implementation of GCG. The Company’s
Organs perform their functions in accordance with
the Laws, the Articles of Association and other
provisions based on the basic principles that each
organ is independent in carrying out its duties,
functions and responsibilities for the interests of
the Company.
AGMS, Directors and Board of Commissioners
respect the duties, responsibilities and authority
of each Organ in accordance with the laws and
regulations and the Articles of Association. In
carrying out the duties in running the company, the
Directors is assisted by the Corporate Secretary
and Internal Control Unit, as well as other working
units which perform the function in operating the
Company. In carrying out the supervisory duties, the
Board of Commissioners may establish committees,
whose members are one or more members of
the Board of Commissioners. These committees
are responsible to the Board of Commissioners.
Committees that have been established by the
Board of Commissioners are as follows:
• AuditCommitteeThe Committees that can be established by
the Board of Commissioners to assist the
Board of Commissioners, fulfill their duties and
responsibilities in reviewing the effectiveness
of internal control systems, the effectiveness
of the implementation of the duties of external
and internal auditors, as well as in reviewing
and approving all information and proposals
that were prepared and submitted to other
parties such as the Financial and Non-
Financial Statements, as well as the Company’s
Annual Report.
• BusinessRiskandInvestmentCommitteeThe Committee that can be formed by the
Board of Commissioners to assist the board in
the implementation of the duties and functions
of the Board of Commissioners to monitor
regularly and recommend improvements to the
risk management, which is being implemented
and being developed by the Company.
• NominationandRemunerationCommitteeIn carrying out the functions of the
Nomination and Remuneration, the Company
has established a system and procedure in
determining the remuneration that will be
imposed on the Company by referring to the
applicable regulations.
• CorporateGovernanceCommitteeIn carrying out the functions of Corporate
Governance, the Board is actively monitoring
the implementation of GCG in the Company.
223PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Hierarchy of the Company’s GCG Policy
Diagram Hierarchy of the Company's GCG Policy
Article of Association
Board Manual
Code of Conduct
Other Policies
Guidelines for Conflict of Interest
Standard Operating Procedures
Guidelines for Whistleblowing System
Good Corporate Governance Guidelines
Guidelines for Handling Gratification
GOvERNANCE MECHANISMGovernance Mechanism is a mechanism for GCG implementation, which is reflected in a strong system. This
is important, because the implementation of GCG is not enough just to rely on the pillars of governance
structure, but there is a need to have a clear rule in the form of proper mechanism. Governance mechanism
can be defined as rules, procedures and a clear relationship between the parties that make decisions and
parties that control (supervise) the decision.
The Company uses the term of governance mechanisms as soft-structure of GCG. Soft-structure is an
important aspect in the implementation of GCG, because the soft-structure GCG will be a living document
for all ranks and levels of the organization in a company.
224 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Governance Mechanism of the CompanyMekanisme Tata Kelola Perseroan
Board Manual is a compilation of management practices of the Company which were adapted from regulations (Laws/Regulations), Statutes and mutually agreed best practices in the implementation of GCG. Board Manual is used by the Company’s organs that carry oversight function and management of the Company, namely Board of Commissioners and Directors.
BOARD MANUAL
COC is a system of values or norms that are adopted by all Jasa Marga employees in performing their duties which contain business ethics and behavior of all Jasa Marga individuals in achieving the goals, vision and mission of the Company, among others, the ethical relationship between the Company and Employees, Toll Road Users, Stakeholders, Suppliers, Lenders/investors, government, business partners, competitors, Mass Media, Society and Environment.
CODE OF CONDUCT (COC)
Integrity Pact is a Statement signed by the Board of Commissioners, Directors and Employees of the Company, which contains pledges to apply the principles of Good Corporate Governance in carrying out the duties and responsibilities.
INTEGRITY PACT
Guidelines for Handling Gratification are set of guidelines for every person in Jasa Marga to understand, prevent and control Gratification in the Company.
GRATIFICATION HANDLING MANUAL
GUIDELINES FOR DEALING WITH CONFLICT OF INTERESTConflict of Interest Guidelines are guidelines for Individual of Jasa Marga to understand, prevent and mitigate Conflict of Interest in the Company.
The charter has a role as a guideline for the Audit Committee and Committee for Investment and Business Risk in the execution of duties as in supporting BOC organs. The Committee Charter is flexible and can be done as needed.
CHARTERS OF COMMITTEES UNDER BOARD OF COMMISSIONERS
COCG is a set of values and practices that is used as guidelines for the Company’s Organs and Management in managing the Company, which contains the principles of GCG that are in accordance with the laws and regulations, objectives, vision and mission and values of the Company.
CODE OF CORPORATE GOvERNANCE (COCG)
Internal Audit Charter has a role to improve the control function which is integrated in the Company’s system and ensure the operation of the Company is implemented in accordance with the applicable rules.
INTERNAL AUDIT CHARTER
Guidelines for Whistleblowing System are set of guidelines for Jasa Marga employees in preventing and detecting the potential violation of the Company.
GUIDELINES FOR WHISTLEBLOWING SYSTEM
225PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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General Meeting of ShareholdersGeneral Meeting of Shareholders (AGM) as the highest authority in the Company has the authority
which is no granted to the Board of Commissioners or Directors within the limits set in the Articles of
Association and the applicable laws. The authority encompasses the request for accountability of the Board
of Commissioners and Directors relating to the management of the Company, changing the Articles of
Association, appointing and dismissing the Directors and the Board of Commissioners, division of roles and
responsibilities of Directors and others.
AGMS of the Company are:
• Annual General Meeting of Shareholders is held each fiscal year no later than six (6) months after the
fiscal year of the Company is closed.
• Extraordinary General Meeting of Shareholders is the general meeting of shareholders which is held at
any time when needed.
Throughout 2014, Jasa Marga conducted 1 (one) GMS, namely the Annual General Meeting of Shareholders
on March 11, 2014 at the Ballroom of The Dharmawangsa Jakarta, Jl. Brawijaya Raya No. 26, Kebayoran Baru,
Jakarta 12160.
The Annual GMS has gone through the process of preparation and implementation in accordance with
Law No. 40 of 2007 on Limited Liability Companies, Article 81, 82, and 83 as well as the Chairman of
Bapepam-LK No. Kep-60/PM/1996 on the planning and realization of the AGM. The process of planning and
implementation of the Annual General Meeting of the Company has been stated in the letter submitted to
Bapepam-LK, as well as Notification to place an advertising, the Call and Announcement of Annual General
Meeting in each of the 2 (two) Indonesian newspapers which national circulation with details as follows:
Preparation Process for AGMS for 2014
Submission on Plan and Agenda of Annual GMS
Announcement and Revision to
Announcement of Annual GMS
Invitation to Annual GMS
Submission and Announcement of
Resolutions of Annual GMS
Submit letter to Head of Executive Head for Capital Market Supervisory of OJK through Letter No. AA.AK06.99 dated 30 January 201421 March 2013
Advertisement at Bisnis Indonesia and Investor Daily
07 February 2014
Advertisement at Bisnis Indonesia and Investor Daily
24 February 2014
Advertisement at Bisnis Indonesia and Investor Daily
13 March 2014
Notification of Annual GMS is published through advertisement of the Annual General Meeting at Bisnis
Indonesia and Investor Daily on February 7, 2014. The Call (Invitation) for Annual General Meeting of
Shareholders was published through advertisement in the same newspaper on February 24, 2014. While the
Announcement of the results of the Annual AGM was published via an advertising in the same newspaper
on March 13, 2014.
226 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Agenda of the Annual GMS were published
in Advertised Invitation. In addition to published
Agenda of the Annual General Meeting, Annual GMS
also disclosed some notes as follows:
1) The Company does not send a separate
invitation to shareholders, because the
advertising is a formal invitation in accordance
with the provisions of Article 22, paragraph 2 of
the Articles of Association of the Company.
2) Those who are entitled to attend the Meeting
of Shareholders are those whose names are
registered in the Register of Shareholders
on Friday, dated February 21, 2014 at 16:15 or
owner of the securities account balances at PT
Kustodian Sentral Efek Indonesia at closing stock
trading on Friday, February 21, 2014.
3) Shareholders who are not present at the Meeting,
may be represented by a proxy. Member of
the Directors and Board of Commissioners
and the Employees of the Company may act
as Authorized Shareholders at the Meeting,
however the votes cast by the members of the
Directors, the Board of Commissioners and the
Employees of the Company as the power of
attorney of the shareholders are not counted
during the voting process.
4) Power of Attorney form can be obtained during
the working hour at: the Company’s Headquarter,
at Plaza Tol Taman Mini Indonesia Indah, Jakarta
13550 Tel. (021) 8413526, 8413630 ext. 227
and 223, as well as the office of the securities
administrative office PT Datindo Entrycom Puri
Datindo-Wisma Sudirman, Jln. Gen. Sudirman
Kav. 34-35 Ph. (021) 5709009 Fax. (021)
5709026, 5708914.
5) All the Power of Attorney that have been
completed must be returned to the Company no
later than on Thursday, March 6, 2014 until 16:00
via the Company’s office or the Office of the
Registrar PT Datindo Entrycom.
6) Materials that will be discussed at the Meeting
have been available at the Company’s office
since the date of the published Invitation until
the date of the Meeting and can be downloaded
at the Company’s website www.jasamarga.com.
7) a. Shareholders or Powers of Attorney of the
Shareholders who will attend the Meeting are
requested to submit photocopy of identity
card (KTP) or other proof of identity to the
registration office of the Company prior to
entering the Meeting Room. In the event
that Shareholders are represented by Proxy,
the Proxy Shareholders are requested to
submit a photocopy of ID card or other proof
of identity of the Shareholder power that
granted authority to the Proxy Shareholders
who have been authorized.
b. Shareholders in the form of legal entity
in order to bring a copy of the Articles of
Association and following changes of final
management structure.
c. Shareholders whose shares are registered in
the collective custodian at central securities
depository, PT Kustodian Sentral Efek
Indonesia are required to bring a written
confirmation for the attending the Meeting
(KTUR) which can be obtained from
securities companies or custodian bank
where the shareholders open a securities
account.
8) To facilitate a smooth Meeting, shareholders or
their proxies or Shareholders’ power of attorney,
are required to be at the Meeting Place at least
30 (thirty) minutes before the meeting begins.
The Annual GMS was attended by members of
the Board of Commissioners, in which one of its
members, is the Chairman of the Audit Committee
as well as the holders of Dwiwarna shares namely,
Series A and Series B Shareholders and/or the
authorized proxy with the attendance quorum of
79.909% of all shares with voting rights and has
complied with the Articles of Association. The GMS
was also attended by the public accounting firm that
has audited Financial Statements of the Company
as well as the Financial Report of Partnership and
Community Development 2013 financial year.
227PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Number of shares attending Jasa Marga Annual AGMS 2014
Number of Shares Percentage (%)
5,433,838,600 79.909
Based on the decision of the Board of Commissioners, the Annual General Meeting is led by President
Commissioner. The Leader of the Meeting provides the opportunity for shareholders or the shareholders’
power of attorney to submit questions/comments and/or suggestions, which later answered or responded
by the leader of the Meeting or someone who is appointed by the Chairman of the Meeting. After all the
questions are answered and responded, then voting is held. Only Shareholders or their proxies are legitimate
to cast vote. Every holder of one share is entitled to issue one share and entitling the holder to cast one
vote. The Company has appointed Notary, Ir. Nanette Cahyanie Handari Warsito Adi, SH., as an independent
party that validated the votes and preparing a report on the Minutes of the Meeting.
228 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Agenda, Resolutions, Voting Results and Follow-up Decisions of Annual General Meeting of Shareholders are as follows:
FIRST AGENDA
Approval of the Annual Report for the Financial Year 2013, about the Company’s Activities and Approval of the Implementation of the Supervisory Duties of the Board of Commissioners as well as the Ratification of the Company’s Financial Statements which Ended December 31, 2013.
Resolutions of the First Agenda1. Approve the Annual Report for the fiscal year ended on December 31, 2013, including ratification of the
Board of Commissioners’ Supervisory Duties’ Report and the Consolidated Financial Statements for the fiscal year ended on December 31, 2013 which was audited by Public Accounting Firm (KAP) Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) as contained in its report No. R/042.AGA/sat.2/2014 dated February 12, 2014 with the reasonable opinion in all material respects.
2. With the approval of the Company’s Annual Report including the approval of the Supervisory Duties Report of the Board of Commissioners and the approval of the Consolidated Financial Statements for the financial year ended December 31, 2013, the AGMS granted release and discharge for full responsibility (volledig acquit et de charge) to all members of the Directors and Board of Commissioners for the actions of management and supervision they have carried out during the Fiscal Year ended December 31, 2013, as long as all the actions are not criminal acts and is reflected in the Annual Report and Financial Statements of the Company.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 5,432,914,200 votes (99.98%)Disagreed: 552,500 votes (0.01%)Abstain: 371,900 votes (0.07%)
Total Agreed: 5,433,286,100 votes (99.99%)
Follow Up-
SECOND AGENDA
Approval of the Report on Partnership and Community Development Program for Fiscal Year 2013.
Resolutions of the Second Agenda1. Approve the Annual Report on Partnership and Community Development Program for the fiscal year ended on
December 31, 2013, including Financial Statements of PKBL audited by Public Accounting Firm (KAP) Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) as contained in the report No. R/056.AGA/sat.2/2014 dated February 12, 2014 with the reasonable opinion in all material respects.
2. With the approval of the Annual Report of Partnership Program and Community Development (PKBL) for the fiscal year ended December 31, 2013, the AGMS granted release and discharge for full responsibilities (volledig acquit et de charge) to all members of the Directors and the Board of Commissioners Liability for the actions of management and supervision on PKBL for the fiscal year ended December 31, 2013, as long as the actions not criminal and are reflected in the Annual Report of Partnership Program and Community Development (CSR) for the fiscal year ended December 31, 2013.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 5,429,464,200 votes (99.92%)Disagreed: 552,500 votes (0.01%)Abstain: 3,821,900 votes (0.07%)
Total Agreed: 5,433,286,100 votes (99.99%)
Follow Up-
229PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
THIRD AGENDA
Approval of the Utilization of 2013 Net Profit.
Resolutions of the Third Agenda 1. To approve and authorize the use of Net Income for the fiscal year 2013 amounting to Rp.
1,336,316,735,000.00 (one trillion three hundred and thirty-six billion three hundred and sixteen million seven hundred thirty-five thousand rupiah) with the following composition:a. As much as 40% (forty percent) of the net profit of the Company or amounting to Rp
534,526,694,000.00 (five hundred thirty four billion, five hundred and twenty-six million, six hundred and ninety four thousand rupiah) will be distributed as cash dividends to the Shareholders.
b. As much as 1.87% (one point eight seven percent) of the net profit of the Company or Rp 25,000,000,000.00 (twenty five billion rupiah) will be allocated as mandatory reserves.
c. Amounted to 58.13% (fifty-eight point thirteen percent) of the net profit of the Company or Rp 776,790,041,000.00 (seven hundred and seventy-six billion, seven hundred and ninety million, forty-one thousand rupiah) will be allocated as other reserves which will add the retained earnings.
2. Granting the power and authority to the Directors to further set out more about the procedures and the implementation of the cash dividend distribution in accordance with the provisions of applicable Laws, including rounding up for the payment of dividends per share.
3. The Company will establish reserve funds for the program of corporate social responsibility with the amount according to the needs and capabilities of the Company.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 5,432,866,700 votes (99.98%)Disagreed: 600,000 votes (0.01%)Abstain: 371,900 votes (0.07%)
Total Agreed: 5,433,238,600 votes (99.99%)
Follow UpCash Dividend for 2013 Fiscal Year is distributed on April 23, 2014 based on Directors’ Decision No. 49.1/KPTS/2014 dated March 12, 2014.
FOURTH AGENDA
The appointment of Public Accountant to audit the Consolidated Financial Statements for Fiscal Year 2014 and Financial Report of Partnership and Community Development Fiscal Year 2014.
Resolutions of the Fourth Agenda 1. Reappointing Public Accounting Firm (KAP) Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) to
conduct an audit on the Financial Statements of the Company for the fiscal year that will end on December 31, 2014 and Financial Report of Partnership and Community Development (PKBL) of the Company for the fiscal year that will end on December 31, 2014.
2. Granting the power to the Board of Commissioners to determine the Public Accounting Office replacement, in which the office of Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) cannot continue or perform their duties to complete the audit of the Company’s Financial Statements and Financial Statements of the Partnership and Community Development (PKBL) of the Company for any reasons based on Provisions and applicable Regulations.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 5,424,532,200 votes (99.83%)Disagreed: 4,382,400 votes (0.08%)Abstain: 4,924,000 votes (0.09%)
Total Agreed: 5,429,456,200 votes (99.92%)
Follow UpPublic Accounting Office (KAP) Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) as the Company’s public accountant conducts audit on the Financial Statements of the Company for fiscal year of 2014 and Financial Report on Partnership Program and Community Development (PKBL) of the Company since 2014.
230 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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FIFTH AGENDA
Determining the amount of the Tantiem for Fiscal Year 2013, the salaries, honorarium and allowances and Other Facilities for the Directors and the Board of Commissioners for Fiscal Year 2014.
Resolutions of the Fifth AgendaGrant the authority and power to the Board of Commissioners with prior approval of the Shareholder of Series-A Dwiwarna to determine the amount of bonuses for the members of the Directors and Board of Commissioners for the Fiscal Year 2013, and to determine the salaries, honorarium, allowances and facilities and other benefits for members of the Directors and members of the Board of Commissioners for 2014.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 5,344,093,737 votes (98.35%)Disagreed: 60,116,063 votes (1.11%)Abstain: 29,628,800 votes (0.55%)
Total Agreed: 5,373,722,537 votes (98.89%)
Follow UpTantiem for fiscal year 2013 was set at Rp 17,994,117,647
SIxTH AGENDA
Directors’ Report Regarding the Use of Proceeds from Public Offering (IPO) in 2007 and Jasa Marga Bond in 2010 and 2013.
Resolutions of the Sixth Agenda The Directors has submitted the Report on the Utilization of Proceeds from Public Offering (IPO) of shares in 2007 and Jasa Marga Bonds in 2010 and 2013.
The sixth agenda is a report, therefore there was no voting. Follow Up
-
SEvENTH AGENDA
Approval on the Enforcement of Regulations of the Minister of State Owned Enterprise, as follows:a. Regulation of the Minister of State Enterprises No. PER-08/MBU/2013 dated September 10, 2013
concerning the Fourth Amendment of the Regulation of the Minister of State Enterprises No. PER-05/MBU/2013 dated April 27, 2007 on the Partnership Program of the State Owned Enterprises with Small Business and Community Development Program.
b. Regulation of the Minister of State Enterprises No. PER-09/MBU/2013 dated April 19, 2013 on General Policy about Hedging Transactions of the State Owned Enterprises.
Resolutions of the Seventh AgendaEnforcement for the implementation of the Regulation of the Minister of State Enterprises, as follows:a. Regulation of the Minister of State Enterprises No. PER-08/MBU/2013 dated September 10, 2013 on the
Fourth Amendment to the Regulation of the Minister of State Enterprises No. PER-05/MBU/2007 dated April 27, 2007 on the Partnership Program of the State Owned Companies with Small Business and Community Development Program.
b. Regulation of the Minister of State Enterprises No. PER-09/MBU/2013 dated September 25, 2013 on General Policy of Hedging Transactions of the State Owned Enterprises.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 5,433,466,700 votes (99.99%)Disagreed: 0 votes (0.00%)Abstain: 371,900 votes (0.01%)
Total Agreed: 5,433,838,600 votes (100.00%)
Follow UpImplementation of the regulations in the Company.
231PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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EIGHTH AGENDA
Approval for the Changes in the Board of Executives of the Company and/or the composition of the Company’s Board.
Resolutions of the Eighth Agenda 1. a. Dismissal with an honor Mr. JOYO WINOTO as a member of the Board of Commissioner. The dismissal
became effective since the closing of the Meeting and expressed thankfulness and appreciation for his service during his tenure as a member of the Board of Commissioners.
As for granting of release and discharge of responsibility (volledig acquite et de charge) for the period from January 1, 2014 until the date of this Meeting, will be given accountability during the Annual General Meeting in the following year.
b. Appoint Mr. BOEDIARSO TEGUH WIDODO as a member of the Board of Commissioner, which became effective since the closing of this AGM until the fifth Annual General Meeting, without undermining the right of the GMS to dismiss the person at any time.
c. With the effectiveness of the dismissal and appointment of members of the Board of Commissioners above, then the members of the Board of Commissioners are as follows:
President Commissioner: Mr AGOES WIDJANARKOCommissioner: Mr. IBNU PURNA MUCHTARCommissioner: Mr. AKHMAD SYAKHROZACommissioner: Mr. BOEDIARSO TEGUH WIDODOIndependent Commissioner: Mr. SAMSOEDINIndependent Commissioner: Mr. MICHAEL DENDRON PRIMANTO
2. a. Change the structure of Directors of the Company as follows: Structure:1. Mr. ADITYAWARMAN, as President Director, previously President Director2. Mr. HASANUDIN, as Director, previously Operation Director3. Mr. ABDUL HADI Hs., as Director, previously Business Development Director4. Mr. REYNALDI HERMANSJAH, as Director, previously Finance Director5. Mr. MUH NAJIB FAUZAN as Director, previously as for Human Capital and General Affairs Director
b. Given this changing, the composition of the Directors of the Company as follows: President Director: Mr ADITYAWARMANDirector: Mr. HASANUDINDirector: Mr. ABDUL HADI Hs.Director: Mr. REYNALDI HERMANSJAHDirector: Mr. MUH NAJIB FAUZAN
c. Division of Duties and Authorities of Directors are determined based on the decision of Directors after consultation with the Board of Commissioners.
voting ResultsPresent: 5,433,838,600 votes (100.00%)
Agreed: 4,924,044,442 votes (90.62%)Disagreed: 409,041,428 votes (7.53%)Abstain: 100,752,730 votes (1.85%)
Total Agreed: 5,024,797,172 votes (92.47%)
Follow UpDecision Letter of the Board of Commissioners No. KEP-106a/V/2014 dated May 16, 2014.
The announcement of the Annual General Meeting
of Shareholders also reveals the Dividend Payment
Procedures, as follows:
1. The cash dividend will be distributed to
shareholders whose names are registered
in the Shareholders List (Recording date)
on April 9, 2014 until at 16:15 and/or
Shareholders of the Company which have
accounts at KSEI as of April 9, 2014.
2. Shareholders whose shares are registered
in the collective custodian of KSEI, cash
dividend payments will be done through
KSEI and will be distributed into the accounts
of the Securities Company or Custodian
Bank on April 23, 2014. Proof of Payment of
cash dividends will be delivered by KSEI to
shareholders through Securities Company or
custodian bank where the shareholders open
their accounts. As for shareholders whose
232 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Identity of the Company
shares are not included in the collective
custody of KSEI, the cash dividend payment
will be transferred to the bank account of the
Shareholders.
3. Cash dividends will be taxed in accordance
with applicable tax laws and regulations.
The amount of tax charged will be borne by
the Shareholders concerned and deducted
from the amount of cash dividends that have
become the right of the Shareholders.
4. Shareholders who are legal entities Tax
payers who are yet to have Taxpayer
Identification Number (NPWP) are required
to submit NPWP to KSEI or the Securities
Administration Bureau, PT Datindo Entrycom
– Puri Datindo-Wisma Sudirman, Jl. Jend.
Sudirman Kav. 34-35 Jakarta 10220, Tel.
(021) 5709009, Fax (021) 5709026, 5708914
no later than on April 9, 2014 at 16:00
pm. Without the inclusion of NPWP, cash
dividends paid to taxpayers in the form of
the legal entity will be subject to income tax
by 30%.
5. Shareholders who are Foreign Taxpayers,
whose tax deduction will be based on
the Agreement on Avoidance of Double
Taxation Agreement (P3B) shall meet the
requirements of the article 26 of the Income
Tax Law No. 36 of 2008 and to submit DGT-
1 or DGT-2 form which have been legalized
by the Tax Office for Listed Companies
to KSEI or BAE not later than on 15 April
2014 (5 trading days prior to the date of
payment) at 16:00 pm. Without a defined
format documents, cash dividend paid will be
subject to income tax Article 26 by 20%.
6. Shareholders whose shares are placed
in KSEI collective custody, evidence of
the withholding tax on dividend can be
picked up at the securities company and/
or custodian bank where the shareholders
open a securities account and Shareholders
scrip taken at the office of Registrar firm, PT
Datindo Entrycom from April 30 2014.
Board of CommissionersBoard of Commissioners is an organ of the Company who is collectively responsible for the oversight
and giving advice to the Directors and ensure that Jasa Marga implements the GCG at all levels of the
organization. In order to support the performance of its duties, the Board of Commissioners is assisted by
the Audit Committee and Business Risk and Investment Commitee.
COMPOSITION OF THE BOARD OF COMMISSIONERSAs of December 31, 2014, the composition of Board of Commissioners of Jasa Marga comprises of 6 (six)
people, as follows:
Composition of Board of Commissioners of Jasa Marga
Name Post Legal Basis of Appointment Shareholders Representative
Agoes Widjanarko President Commissioner
Resolutions of Extraordinary GMS on January 30, 2012
The State of Republicof Indonesia
Mayjen. (Purn.) Samsoedin Independent Commissioner
Resolutions of Extraordinary GMS on January 30, 2012
Independent
Irjen. Polisi (Purn.) Michael Dendron Primanto
Independent Commissioner
Resolutions of the Extraordinary GMS on January 30, 2012
Independent
Ibnu Purna Commissioner Resolutions of Extraordinary GMS on January 30, 2012
The State of Republicof Indonesia
Akhmad Syakhroza Commissioner Resolutions of the Extraordinary GMS on January 30, 2012
The State of Republicof Indonesia
Boedoarso Teguh Widodo Commissioner Resolutions of Annual GMS on March 11, 2013
The State of Republicof Indonesia
233PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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DUTIES AND RESPONSIBILITIES OF THE BOARD OF COMMISSIONERSBoard of Commissioners through collegial works oversees and advises the Directors in operating the
Company, in accordance with the Articles of Association and the provisions of the applicable laws and
regulations. The position of each Commissioner is equal, however, in carrying out their duties as member
of Board of Commissioners, with a principle of ‘primus inter pares’, they are led and coordinated by
President Commissioner and in performing their duties, the Board of Commissioners is responsible to
the General Meeting of Shareholders (GMS). Members of the Board of Commissioners are appointed and
dismissed by the GMS.
Accountability of the Board of Commissioners to the GMS is a form of accountability in monitoring and
providing advice on the management to the Directors of the Company, as part of the framework of the
application of the principles of good corporate governance (GCG).
In accordance with the division of works of the Commissioners set out in the Stipulation of the Board of
Commissioners of PT Jasa Marga (Persero) Tbk. No. Kep-106A/V/2014 dated May 16, 2014, the Board of
Commissioners duties are divided into 6 (six) areas, as follows:
1. Policy and Development Strategy of the Company.
2. Investment.
3. Finance.
4. Technical Aspect of the Road.
5. Toll Road Traffic Services.
6. Organization and Human Resources Development.
Description of the Duties of Board of Commissioners is as follows:
Name Agoes Widjanarko
Position President Commissioner
Area of Duties Policy and Business Development of the Company
Description of Duties 1. Memberikan masukan, saran dan nasihat terkait dengan kebijakan dan strategi Provide inputs, suggestions and advice associated with the Company’s policy and strategic development as well as coordinating and integrating inputs about the other five fields duties, as part of efforts for: preparation, writing down the Company’s vision and mission, the development of policies and strategies and the Medium Term Plan or Long Term Plan of the Company, including in the preparation and formulation of the Annual Work Plan and Budget of the Company, as well as oversight role on the implementation of the General Meeting of Shareholders, approval of the writing-off books of fixed assets, equity and establishing subsidiaries/joint ventures, buy or sell securities, joint operations and strategic investments. These are valid for a period of more than 3 years or more from 5-10 years in the form of KSO, BOT, BOO and BRT.
2. Provide guidance and recommendations on the decision, evaluation and revision of the corporate vision and mission, the Medium Term Plan and/or Long Term Plan of the Company, as well as the Work Plan and Budget, including the approval to perform actions which have not been specified in the RKAP, as well as the approval for the nomination of representative of the Company to become a candidate member of the Directors and the Board of Commissioners in the joint ventures or subsidiaries that strategic positions.
3. Leading and ensure the achievement of the effectiveness of decision-making, in the Board of Commissioners, joint meeting of Board of Commissioners and Directors, and the General Meeting of Shareholders as well as the application of the principles of good corporate governance in the Board of Commissioners.
234 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Name Ibnu Purna
Position Commissioner
Area of Duties Investment
Description of Duties 1. Provide input, guidance, recommendations in the formulation of policies and investment strategies and risks of the development of new toll road, obtaining a new toll road concession or acquisition of existing toll roads and divestiture or spin off subsidiaries, as well as in the development of non-toll business.
2. Monitoring and assessing and providing inputs, advice and recommendations in the efforts to improve the efficiency and effectiveness of the technical planning of toll road, investment cost for construction to increase road capacity and the construction of new toll roads as well as the associated business risks, giving approval for the proposed investments/disposals of capital in other companies or set up subsidiaries/joint ventures, giving approval to conduct cooperation with longer period of more than 3 years or 5-10 years in the form of KSO, BOT, BOO, BRT, and so on.
Name Boediarso Teguh Widodo
Position Commissioner
Area of Duties Finance
Description of Duties 1. Provide inputs, guidance, recommendations in the formulation of policies and strategies in the management, engineering and strengthening the Company’s financial structure and obtain the cheapest funds needed for investing in the development of new toll road, capacity building, repairing and maintenance of existing toll roads.
2. Provide inputs, feedback, suggestions and recommendations in the drafting of the annual and long-term Work Plan and Budget, a review of the proposed transfer and conversion of fixed assets as guarantees for the Company’s debt worth up to Rp 500 billion in 1 (one) or more transactions within one year, receiving/providing medium-term loans/long-term financial structure that supports un-organic growth and discussion on the annual and quarterly reports.
3. Provide inputs and recommendations in the efforts to develop, improve the efficiency and effectiveness of financial administration, loan control and the utilization of information technology in drafting the financial statements and financial transactions.
235PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Name Mayjen. (Purn.) Samsoedin
Position Independent Commissioner
Area of Duties Other Technical matters
Description of Duties 1. Provide inputs, guidance, recommendations in areas of the management, maintenance and security of the toll roads in order to meet Minimum Service Standards (SPM) set out by the Minister of Public Works and or reach the level of the high reliability of the toll road, in accordance with the expectations and needs of the users of the toll road.
2. Provide feedback and recommendations in order to improve the efficiency and effectiveness of the repairing works and maintenance of toll roads and facilities/toll road signs, including the development of Performance-Based Maintenance Contract, risk management and modernization of the operations of toll road.
Name Irjen. Polisi (Purn.) Michael Dendron Primanto
Position Toll Road Traffic Service
Area of Duties Other Technical matters
Description of Duties 1. Provide inputs, guidance, recommendation in order to smoothen the transactions service so that it meets the Minimum Service Standards (SPM) as well as controlling and safeguarding the toll revenues, management, and services that meets safety standards, as well as increased travel speed response time in handling the travel disruption.
2. Provide feedback and recommendations in order to improve efficiency and effectiveness of the use of resources for services and transactions of the toll road traffic.
Name Akhmad Syakhroza
Position Commissioner
Area of Duties Organization and Human Resources Development
Description of Duties 1. Provide inputs, guidance, recommendations in the preparation for determination and adjustment of the organizational structure of the Company at the Head Office, Branches, Subsidiaries as well as preparing the system and governance procedures for the Company.
2. Provide guidance and recommendations on policies to meet the provision of professional, competent and productive human resources and for further development.
3. Together with other Commissioner members, providing inputs and recommendations over the proposed candidates for the Company’s Directors and proposed candidates for the Company’s Commissioners as well as Directors in subsidiary companies to the State Owned Enterprises as Shareholder of Dwiwarna shares, as well as in the event that the Commissioner is asked to recommend the proposed officials in the strategic positions, which is one layer of Director.
4. Provide inputs and recommendations in order to improve efficiency and effectiveness and competitive human resource development and business processes that are customer oriented or toll road users.
236 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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APPOINTMENT AND DISMISSAL OF BOARD OF COMMISSIONERSMembers of the Board of Commissioners are
appointed by the AGM. The Candidates are
proposed by Shareholders of Series A Dwiwarna
after going through the nomination process in
accordance with the provisions of the applicable
laws and regulations and are conducted in
accordance with the rules of the decision-making
mechanism in the GMS. The Commissioners have
met the general and specific requirements set forth
in the Board of Commissioners Manual and the
applicable SOE Regulations.
Dismissal of members of the Board of
Commissioners is also conducted through GMS and
through the decision-making mechanism in the GMS.
INDEPENDENCE OF THE BOARD OF COMMISSIONERS AND INDEPENDENT COMMISSIONERSAll members of the Board of Commissioners
of Jasa Marga act independently and free from
intervention as well as pressure from any parties. The
Independent Commissioners are members of the
Board of Commissioners from outside the company
and do not have the financial, management, share
ownership and/or family relationship/affiliation with
other members of the Board of Commissioners, the
Directors, the Shareholders or other relationship
with the Jasa Marga, which may affect the ability to
act independently. Independent Commissioners are
selected in a transparent and independent manner,
has the integrity and required competence, free
from the influence from other parties for personal
interests, and can act objectively and independently
based on the principles of GCG.
Independent Commissioners are expected to create
a more objective and independent climate, and also
to keep the “fairness” and able to provide a balance
between the interests of majority shareholders
and the protection of the interests of minority
shareholders including public shareholders and
other stakeholders.
One of the duties of members of the Independent
Commissioners is to represent the interests of
minority shareholders. The number of Independent
Commissioners is regulated under the Decision
of the Directors of PT Bursa Efek Indonesia No.
Kep-305/BEJ/07-2004 on Regulation No. IA on
the Registration of Shares and Equity In addition
to Shares Issued by the Listed Company, where
every public company must have Independent
Commissioners at least 30% of the total members
of the Board of Commissioners. The number
of Independent Commissioners of Jasa Marga
complies with the applicable regulations, where
two of its commissioners are independent
commissioners or 33% of the total members of the
Board of Commissioners.
Independent Commissioner CriteriaAs a public company and has been listed on
the Indonesia Stock Exchange, Jasa Marga has
fulfilled the requirements set out by the capital
market regulator with regard to the Independent
Commissioner. Such provisions are as follows:
1) Coming from outside of the public company.
2) Does not affiliate with the company,
commissioners, directors or shareholders of the
company.
3) Do not have a business relationship, directly or
indirectly with the business of the company.
4) Does not own shares, either directly or indirectly
of the company.
5) Do not work double as a director in other
companies which is affiliated with the company.
6) Understanding the laws in the field of capital
market.
The number of Independent Commissioners of Jasa
Marga has been complied with the Decision of the
Directors of PT Indonesia Stock Exchange No. Kep-
305/BEJ/07-2004, with regard to the Regulation No.
IA on the Registration of Shares and Equity Shares
Issued by the Listed Company, where every public
company must have an Independent Commissioner
at least 30% of the total members of the Board of
Commissioners. Jasa Marga has two independent
commissioners or 33% of the total members of the
Board of Commissioners.
Statement of Independence of the Independent Commissioners Independent Commissioners do not have
shares in the Company, and have no association
with members of the Directors and Board of
Commissioners.
237PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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AFFILIATE RELATIONSHIP AND BOARD MEMBERSHIP AT OTHER COMPANIESFamily relationship and positions in other companies between a member of the Board of Commissioners
with fellow member of the Board of Commissioners and/or members of the Directors and Shareholders
for the period of 2014, is as follows:
Affiliate Relationship of Board of Commissioners of Jasa Marga
Name
Affiliated with
Board of Commissioners DirectorsMajor/ Controling
ShareholderA
go
es
Wid
jana
rko
May
jen.
(P
urn.
) Sa
mso
edin
Irje
n. P
olis
i (P
urn.
) M
icha
el
Den
dro
n P
rim
anto
Ibnu
Pur
na
Akh
mad
Sy
akhr
oza
Bo
edia
rso
Te
guh
W
ido
do
Ad
itya
war
man
Has
anud
in
Ab
dul
Had
i Hs.
Rey
nald
i H
erm
ansj
ah
Muh
Naj
ib
Fauz
an
Min
istr
y o
f SO
Es
Agoes Widjanarko û û û û û û û û û û û
Mayjen. (Purn.) Samsoedin û û û û û û û û û û û
Irjen. Polisi (Purn.) Michael Dendron Primanto û û û û û û û û û û û
Ibnu Purna û û û û û û û û û û û
Akhmad Syakhroza û û û û û û û û û û û
Boediarso Teguh Widodo û û û û û û û û û û û
Adityawarman û û û û û û û û û û û
Hasanudin û û û û û û û û û û û
Abdul Hadi Hs. û û û û û û û û û û û
Reynaldi Hermansjah û û û û û û û û û û û
Muh Najib Fauzan û û û û û û û û û û û
Ministry of SOEs û û û û û û û û û û û
Notes:ü Yesû No
There are no blood relationship to the third degree among members of the Board of Commissioners and
between members Board of Commissioners with members of the Directors either vertically or horizontally
or relationship by marriage.
Members of Jasa Marga Board of Commissioners Hold Positions in Other Companies
Name
Positions in Other Companies
As member of Board of
Commissioners
As Directors
As Shareholder
Agoes Widjanarko û û û
Mayjen. (Purn.) Samsoedin û û û
Irjen. Polisi (Purn.) Michael Dendron Primanto û û û
Ibnu Purna û û û
Akhmad Syakhroza û û û
Boediarso Teguh Widodo û û û
Notes:ü Yesû No
238 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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DUAL POSITIONS AND CONFLICT OF INTERESTBased on the provisions of the Articles of
Association, the Board of Commissioners is
prohibited to hold dual positions in the following
companies:
1. Members of the Directors in the state owned
enterprise (SOEs), regional government owned
companies (BUMD) and private enterprise.
2. Other positions in accordance with the provisions
of the applicable laws.
3. Member of executive board of political parties
and or candidates/members of the legislator.
4. Another positions that may pose a conflict of
interest.
During 2014, no member of the Board of
Commissioners of the Company that holds dual
positions as stated in the Articles of Association of
the Company.
For the purposes of transparency and prevent
conflicts of interest, each member of the Board
of Commissioners of Jasa Marga (including family
members) are required and have made a list of
shares that are owned in the Company or in other
companies. List of share ownership of the Board
of Commissioners are kept by the Corporate
Secretary and administered by the Secretary of
the Board of Commissioners.
WORK GUIDELINES AND ORDERS FOR THE BOARD OF COMMISSIONERS (BOARD CHARTER) Board of Commissioners carried out its duties
based on the Handbook (Board Manual) for
members of Commissioners of PT Jasa Marga
(Persero) Tbk. which has been established by
the Decree of the BOC No. Kep 0205/XII/2013
dated December 30, 2013 on Revised Guidelines
(Board Manual) for members of the Board of
Commissioners of PT Jasa Marga (Persero) Tbk.
The Board Manual contains instructions for work
procedures of Board of Commissioners. The Board
Manual also elaborates the phases of activities
in a structured, systematic and easy ways to
understand and becomes a reference in carrying
out the duties and obligations of the Board of
Commissioners to consistently implement the
visions and missions of the Company and in line
with the principles of good corporate governance.
The Board Manual is based on the principle/basis
of corporate laws, the Articles of Association
and the provisions of the applicable legislation,
as well as the best practices of good corporate
governance (GCG).
The Board Manual is one of the Company’s
commitments in implementing good corporate
governance (GCG) consistently in day to day
operation of the Company in achieving its missions
and visions that have been set.
The contents of the Board Manual are as follows:
Chapter I IntroductionContains a description about the background, purpose and definitions of the things listed in the Board Manual
Chapter II Board of CommissionerChapter III DirectorsChapter Iv Activities among Company Organs
Contains a description of the activities of the Board of Commissioners and Directors which include joint meetings of the Board of Commissioners and Directors as well as general meeting of shareholders.
The content of the Board Manual that is related with the Board of Commissioners is contained in Chapter
II, which regulates the following issues:
Duties, Obligations, Authority and Rights Job Ethics
The composition of the Board of Commissioners Organization and Governance
Committees of the Board of CommissionersOversight Role of the Board of
Commissioners
Secretary of the Board of Commissioners Performance and Reports of the Board
of Commissioner
Performance and Reports of Board of Commissioners
239PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
BOARD OF COMMISSIONERS MEETINGSIn 2014, the Board of Commissioners regularly held meetings, both internal meeting of the Board of
Commissioners and joint meeting of the Board of Commissioners with the Directors.
In organizing the meeting, the Board of Commissioners has and refers to the Rules of the Board of
Commissioners, which is set out in the Board of Commissioners Stipulation No. Kep-0205/XII/2013
dated December 30, 2013 on Revised Guidelines Book (Board Manual) for members of the Board of
Commissioners of PT Jasa Marga (Persero) Tbk. point (3) about Conduct and Meeting Attendance, which
among others stipulate the procedures of decision-making process. Meeting decisions are taken by
deliberation. In the event that consensus is not reached, the decision is taken by majority of votes.
The Meetings of the Board of Commissioners consists of internal meetings and meetings which are also
attended by the Directors on invitation to discuss various aspects of operational, investment, financial
management as well as organization and human resources. The decisions of the Meetings are then submitted
to the Directors as inputs and a result of oversight and assessment of the Board of Commissioners, as well as
advice for the Directors, which is then submitted to the Directors for further follow-up actions.
During 2014, the Board of Commissioners carried out internal meetings of the Board of Commissioners as
many as 15 (fifteen) times.
Summary of Attendance of Board of Commissioners Members at Internal Meetings of Board of Commissioners in 2014
NameNumber of Minimum Meetings that Must
Be Attended
Number of Meetings Attended
Percentage of Attendance (%)
Agoes Widjanarko 15 14 93.33
Ibnu Purna 15 14 93.33
Akhmad Syakhroza 15 13 86.66
Boediarso Teguh WIdodo 11 9 81.81
Mayjen. (Purn.) Samsoedin 15 15 100
Irjen. Polisi (Purn.) Michael Dendron Primanto
1515 100
TOTAL 92.52%
Notes:• The absence of members of the Board of Commissioners at the meeting was due to performing their duties outside the city or
attending events/important meetings that cannot be represented.• Different Numbers of Minimum Meetings was due to different times of appointment as members of Board of Commissioners.
In addition to internal meetings, the Board of Commissioners also held a Joint meeting with the Directors.
The summary of the Joint Meeting of the Board of Commissioners with the Directors are presented in the
section of Board of Commissioners’ relationship with Directors.
The decisions taken in the meeting of the Board of Commissioners of Jasa Marga have been recorded and
well-documented in the minutes of meetings of the Board of Commissioners. The minutes of meetings were
signed by the chairman of the meeting and all the participants as well as distributed to all members of the
Board of Commissioners who attended the meeting or not. Dissenting opinion that occurred in the meeting
will be included in the minutes of the meeting along with the reasons of the dissent. I
n order to support the implementation of the duties, the Board of Commissioners are assisted by other
supporting organs include the Secretary of the Board of Commissioners, Audit Committee, Committee for
Investment and Business Risks. Discussions Regarding the Secretary of the Board of Commissioners, Audit
Committee and Committee for Investment and business risks will be discussed in a separate section.
240 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Meeting Agenda of the Board of Commissioners in 2014 were among others discussing the following topics:
Business Development1. Policies and investment strategies of new
toll roads, including the Trans Java and Trans Sumatra and other toll roads outside Java Island.
2. Evaluation of the progress of the construction of new toll roads.
3. Strategy in the handling the acceleration of land acquisition, especially for toll road sections that were expected to be operated in 2014 and early 2015, as well as the provision of land capping funds needed for 2015 and beyond.
4. Efforts to accelerate land acquisition for toll road projects such as JORR II toll road for sections Cengkareng-Kunciran, Kunciran-Serpong which are considered showing slow progress, as well as discussion of the study on new toll road sections such as Manado-Bitung and offshore toll road Semarang-Surabaya.
5. Review on achievement of the development of other business and the utilization of fiber optic, property development and maintenance work as well as the development of toll roads at Rest and Service areas (TIP) as well as renegotiate the cooperation agreements that are not favorable for Jasa Marga.
6. Evaluate the target achievement of the acquisition of new toll road concessions.
7. Development of mass public transportation modes that will utilize Jasa Marga’s toll road corridor.
Operations1. Progress in handling the management of
Electronic Entry Identity Card (Kartu tanda Masuk Elektronik/KTME).
2. Discussion of the quality and service of toll road to the toll road users, such as by accelerating the installation of Automatic Toll Gate (GTO).
3. Evaluation of the achievement of the length of toll roads that have met the Minimum Service Standards (SPM) indicator in all branches and subsidiaries especially after the Commissioners and the Directors agreed that the SPM indicator being used must be higher than the SPM standards set by the Government, therefore it will be easier to meet the required SPM as demanged by the government as prerequisite for tariff increase in 2014.
4. Discussion on safeguarding the toll income through the re-establishment of the information technology and communications related to its application on toll revenues collection process.
5. Discussion on the improvement of human resources in the operational of toll roads and Subsidiaries of Jasa Marga, such as PT Jalantol Lingkarluar Jakarta, PT Jasamarga Bali Tol, and so on.
Finance1. Evaluation of financial performance (RKAP 2014)
for Semester 1 2014, as one of evaluations on whether the performance in the financial sector is in accordance with the target and evaluate the work programs that are not working effectively or less realistic for fixed/revised as necessary.
2. Assessment and evaluation of the achievements of RKAP 2014 in comparisons to the achievement of goals and targets for 2013-2017 RJPP, and evaluation of 2013-2017 RJPP.
3. Discussion and determination of policies, strategies and assumptions that would be used to prepare the RKAP 2015.
4. Discussion of the proposed allocation of net profit of the financial year 2013 and the payment of dividends to shareholders and the remuneration for the Directors and the Board of Commissioners in 2014.
5. Discussion and determination of RKAP 2015.6. Discussion and evaluation on projected financial
statements until the end of December 2014.7. Discussion and evaluation of the achievements of
the Directors in the Management Report.8. Discussion the Proposed Bonds Issuance of Jasa
Marga in 2014.
Human Resources and General Affairs1. Monitoring and evaluation of the positions
formation.2. Discussion of the preparation of job descriptions
and duties of Directors in accordance with the mandate of the Annual General Meeting of Shareholders for fiscal year 2013.
3. Discussion on the Internal Control of the Subsidiaries.
4. Discussion and approval of the proposed candidates for Directors and Commissioners in Subsidiaries.
5. Discussion of various legal issues related to land acquisition and employment contract with a third party (contractor).
6. Discussion of issues relating to the revision of the system and procedures for the writing-off of
the Company’s assets.
241PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Corporate Governance1. Discussion and determination of the annual work program of the Board of Commissioners, the
Secretary of the Board of Commissioners, Audit Committee and Committee for Investment and
Business Risk.
2. Discussion and procurement services of an independent consultant who will conduct assessment of
the implementation of the Corporate Good governance in Jasa Marga 2014.
3. Discussion and fill out the checklist questions related to the implementation of good corporate
governance by each member of the Commissioner, the Secretary of the Board of Commissioners,
Audit Committee and the Committee for Investment and Business Risk.
4. Discussion on the results of assessment of the implementation of good corporate governance in the
Board of Commissioners, Committees and the Secretariat of the Board of Commissioners for 2014.
5. Discussion of reports on “self-assessment” performance of the Board of Commissioners in 2014.
6. Discussion and evaluation of the directives of the Board of Commissioners to the Directors regarding
the internal control, information technology, procurement, compliance of the Directors to the
RKAP 2014, RJPP 2013-2017, compliance with the applicable laws and regulations and the quarterly
management reports.
7. Discussion and the procurement of external auditors (public accounting firm) who will conduct
a general audit of Jasa Marga in 2015. In addition to internal meetings, the Board also held a joint
meeting of the Board of Commissioners with the Directors. Summary of the Joint Meeting of the
Board of Commissioners with the Directors are elaborated in detail in Section Relations between the
Board of Commissioners with the Directors.
Procedures, Basis of Decision and Amount of Remuneration of Members of Board of Commissioners
Based on Article 96 verse (1) of the Law on Limited Liability Company No. 40 of 2007 and Regulation
of the State Minister for State-Owned Enterprises No. PER-04/MBU/2014, dated March 10, 2014 on
Guidelines for Determination of Income for Directors, Board of Commissioners and the Board of Trustees
of State Owned Enterprises, the salaries and benefits of Directors determined by the AGM decision. The
authorization pursuant to Article 96 paragraph (2) may be delegated to the Board of Commissioners.
As a follow-up of the decision of Annual General Meeting of Shareholders (RUPS) for the year 2013, in
the financial year 2014, the Board of Commissioners has received a mandate of authority to propose
salaries and benefits as well as facilities for President Director and the amount of bonuses for Directors
and Board of Commissioners. Based on the authority, the Board of Commissioners have submitted
proposal to the Minister of State Owned. The SOE Minister’s decision has been followed up by the Board
of Commissioners to deliver a letter to the Board for further action. Remuneration of the members of
the Board of Commissioners for 2014 consists of salary/honorarium, allowances, facilities, bonuses/
performance incentives, and full insurance office.
Procedure in Determining Remuneration for Board of Commissioners’ Members
BOARD OF COMMISSIONERSGENERAL MEETING OF SHAREHOLDERS (GMS)
Conducting a Review on Remuneration
Studying the Proposed Remuneration
Proposing to the GMS Giving Approval of the Remuneration
242 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Remuneration of the Board of Commissioners at present have followed the rules, in which the Board of
Commissioners Remuneration consists of: Salary/Honorarium, Allowance, Facilities, Tantiem/Performance
Incentives and Post Job Insurance with the proportion of the amount of salary as follows:
• President Commissioner: 40% of the salary of President Director.
• Commissioner member: 36% of the salary of the President Director.
Determination of income in the form of fixed salary/honorarium, compensations and facilities are applied
by taking into account the revenues, assets, financial conditions and the financial ability of the Company,
as well as the rate of inflation and other factors that are relevant and do not conflict with applicable laws
and regulations. While allowances and bonuses, which are variable, are applied by taking into account the
achievement of targets, the level of health and financial capabilities of the Company as well as other relevant
factors. The income of Board of Commissioners of the Company are determined by the GMS which is valid for
one year.
Remuneration structure of Board of CommissionersBased on the Regulation of the Minister of State Enterprises Per-04/MBU/2014 on Guidelines for
Determination of Income of Directors, Board of Commissioners and Board of Supervisors in SOEs, the
structure of the remuneration of the Directors are as follows:
Remuneration structure of Board of Commissioners:
1. Salary
2. Allowances
a. Religious holiday allowance (THR)
b. Communication allowance (applied only up to March 2014)
c. Compensation for Post Job
d. Official Clothing Allowances
3. Special Allowance for Board of Commissioner: Transportation Allowances.
4. Facilities.
a. Vehicles facility (if the executives were not given transportation allowances).
b. Facilities/Health Insurance/Medical Reimbursement facilities.
c. Facilities for Professional Association.
d. Legal Aid facilities.
5. Tantiem.
Realization of Remuneration of Board of Commissioners in 2014
Remuneration of Members of Board of Commissioners in 2014 (in Rupiah)
Name Salary/YearCompensation/Year Total
Income/YearTransport Telecommunication THR Tantiem
Agoes Widjanarko - President Commissioner
621,900,000 119,550,000 6,600,000 51,750,000 1,117,647,059 1,916,547,059
Ibnu Purna - Commissioner 558,900,000 107,595,000 5,940,000 46,575,000 1,005,882,353 1,724,892,353
Akhmad Syakhroza - Commissioner 558,900,000 107,595,000 5,940,000 46,575,000 1,005,882,353 1,724,892,353
Boediarso Teguh Widodo - Commissioner*
450,725,806 89,200,161 1,341,290 46,575,000 - 587,842,257
Mayjen. (Purn.) Samsoedin - Independent Commissioner
558,900,000 107,595,000 5,940,000 46,575,000 1,005,882,353 1,724,892,353
Irjen. Polisi (Purn.) Michael Dendron Primanto - Independent Commissioner
558,900,000 107,595,000 5,940,000 46,575,000 1,005,882,353 1,724,892,353
Joyo Winoto - Commissioner ** 91,974,194 18,394,839 4,598,710 - - 114,967,743
*) Appointed as Member of the Board of Commissioners since the closing of the Annual General Meeting on March 11, 2014.**) Holding the position as a Member of the Board of Commissioners until the closing of the Annual General Meeting on March 11, 2014.
243PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
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Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
BOARD OF COMMISSIONERS COMPETENCY DEvELOPMENT AND TRAINING PROGRAMSDuring 2014, members of the Board of Commissioners have participated in trainings and seminars as follows:
Pengembangan Kompetensi yang diikuti oleh Anggota Dewan Komisaris Tahun 2014
No. Member of Board of Commissioners
Subject Organizing Institution Date & venue
1. Ibnu Purna Workshop on Advancing GCG Self Assessment
JSM Management Consultant
Jakarta, 16-17 April 2014
2. Irjen. Polisi (Purn.) Michael Dendron Primanto
National Seminar on Internal Audit (SNIA) “Developing anIntegrated Assurance forAchieving Triple Bottom Lines: Profit, People and Planet”
Internal Audit Education Foundation (YPIA)
Lombok, 16-17 April 2014
3. Irjen. Polisi (Purn.) Michael Dendron Primanto
Workshop for Executive and Commissioner/Supervisor of SOE “Crisis and Energy Turbulence as well as its Impact on SOEs”
BUMN Executive Club Jakarta, 14 May 2014
4. • Ibnu Purna• Irjen. Polisi (Purn.) Michael
Dendron Primanto
Workshop on Setting up Key Performance Indicator (KPI) in Improving SOEs Competitiveness
Media Pekerja BUMN Bandung, 20 June 2014
5. Irjen. Polisi (Purn.) Michael Dendron Primanto
Internal Auditing European Conference 2014 & On-Site Learning
Perhimpunan Auditor Internal Indonesia (PAII)
Hungary-German, 13-21 September 2014
6. Akhmad Syakhroza Role of Accountant in Realizing Sustainable Development Through Integrated Reporting
Economic Faculty ofMataram University
Lombok, 24-27 September 2014
7. Irjen. Polisi (Purn.) Michael Dendron Primanto
The Asian Confederation of The Institute of Internal Auditors (ACIIA) 2014 Conference “Is the Game Changing?”
The Institute of Internal Auditors Indonesia
Bali, 23-25 November 2014
8. Ibnu Purna Improving Competencies in Risk Management, Workshop ERM Fundamentals ISO31000 & Conference
CRMS Bali, 01-05 December 2014
DECISIONS OF BOARD OF COMMISSIONERS IN 2014As part of the implementation of their duties and responsibilities, the Board of Commissioners of Jasa Marga
continues to encourage the implementation of monitoring and advisory functions that are more effective.
During 2014, the Board of Commissioners had issued various decisions as realizations of the board’s
monitoring role, as follows:
1. Formation of Negotiation Committee to Negotiate Public Accountant Services of PT Jasa Marga
(Persero) Tbk. for Fiscal Year 2014.
2. Termination and Appointment of Chairman and Member of the Committee for Investment and Business
Risk of PT Jasa Marga (Persero) Tbk.
3. Reappointment of Chairman and Members of the Audit Committee of PT Jasa Marga (Persero) Tbk.
4. Holding General Meeting of Shareholders and Appointment of a Member of Board of Commissioners to
Lead the GMS (General Meeting of Shareholders) of PT Jasa Marga (Persero) Tbk.
5. The Committee of the Board of Commissioners of PT Jasa Marga (Persero) Tbk.
6. Determination of the Secretariat Office of the Board of Commissioners of PT Jasa Marga (Persero) Tbk.
7. Determination of Income, Allowances and Supported Facilities of the Organs of the Board of
Commissioners of PT Jasa Marga (Persero) Tbk.
8. Revision of the Division of Duties of Board of Commissioners 2014.
9. Revision of the Determination of Income, Allowances and Supported Facilities of the Supporting Organs
of the Board of Commissioners of PT Jasa Marga (Persero) Tbk.
10. Approval and Ratification of the Review of RJPP 2013-2017 set out by PT Jasa Marga (Persero) Tbk.
11. The establishment of a Committee for the procurement of a Consultant’s service to assess the
implementation of the Corporate Governance for fiscal year 2014.
244 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Monitoring and Evaluation of the Follow up of Decisions of Board of Commissioners-Directors Joint Meetings in 2014In the implementation of monitoring and providing
advice to the Directors in the operational of the
Company, the Board of Executives together with the
Directors discuss the problems being encountered
by the Company and seek the best solutions which
are mutually agreed that need to be followed up
by the Directors. Decisions of meetings encompass
aspects of investment in toll roads and non-toll
roads, operations as well as finance and human
resources. The decisions may contain elements of
planning, policies and strategies, as well as their
implementation. Board of Commissioners paid a
great attention that the decisions of the meetings
that have been discussed and agreed during the
Joint Meeting of Board of Commissioners-Directors
are acted upon by the Directors.
Based on the results of the monitoring and
evaluation of the Board of Commissioners for
2014, in principle, large parts of the evaluation
and monitoring results had been followed up,
and some decisions are still in the process of
completion. Therefore, one of the next focuses of
the Board of Commissioners is to ensure that the
decisions that are still in the process, can still go
ahead and its completion can be accelerated. If
there are new developments that hinder or prevent
the decision to be completed, then it will be
reviewed and discussed again with the Directors.
AChiEvEMEnt oF BoArD oF CoMMissionErs KEy PErForMAnCE inDiCAtors (KPi) 2014In 2014, the performance of the Board of
Commissioners in perspective of “Internal Process
of Board of Commissioners” which consists of six
(6) performance indicators, recorded a performance
increase, namely from 1.78 to 1.94 points. However,
the performance in performing oversight role on
the efforts of Directors to achieve the target for
concession rights acquisition and the additional
new toll road operation had not fully succeeded
yet, because the achievement of targets are highly
influenced by factors that are beyond the control of
the Directors, such as land acquisition process which is
completed takes a long time to complete and so on.
Overall, the actual achievement of key performance
indicators of the Boards of Commissioners in 2014
was very good, which reached a score of 4.80
points and a slight increase from the achievements
recorded in 2013 of 4.78. Details of the realization of
the achievement of key performance indicators of
the Board of Commissioners in 2014 are presented in
the following table:
realization of Board of Commissioners’ KPi 2014
no. Key Performance indicator Weight (%)
KPi value
target Actual1. GMS (RUPS) 15 0.75 0.75
2. Finance Supervision 11 0.55 0.55
3. Supervision on Operations 10 0.50 0.50
4. Supervision on Development 10 0.50 0.36
5. Supervision of Human Resources 4 0.20 0.20
6. Supervision on Compliance 10 0.50 0.50
7. Internal Process of Board of Commissioners 40 2.00 1.94
totAL 100 5.00 4.80
CoMMittEEs unDEr BoArD oF CoMMissionErsCommittees under the Board of Commissioners are the organs of the Company that have the responsibilities
to support the Board of Commissioners and is collectively responsible to assist the Board of Commissioners
in performing the functions of monitoring and providing advice to the Directors. The Committees that are
supporting the Board of Commissioners of Jasa Marga include the Audit Committee and the Business Risk
and Investment Committee.
The Committees of the Board of Commissioners will be discussed separately.
245PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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DirectorsDirectors are the organ of the Company which
has the duties and collectively is responsible
for managing and implementing the Company’s
corporate governance at all levels of the
organization. In performing its duties, the Directors
are responsible to the GMS. Accountability of the
Directors to the GMS is the embodiment of the
management accountability in accordance with the
principles of GCG.
Members of the Directors are appointed and
dismissed by the General Meeting of Shareholders
(GMS), where the GMS is attended by Shareholders
of Series A Dwiwarna and the decision was
approved by the General Meeting of Shareholders of
Series A Dwiwarna.
REqUIREMENTS, MEMBERSHIP AND COMPOSITION OF DIRECTORSAll members of the Directors of the Company have
met the formal and material requirements. The formal
requirements are general in nature, according the
applicable laws and regulations, while the material
requirements are specific, tailored to the needs and
nature of the Company’s business.
The Directors consists of 5 (five) members, namely
one (1) President Director and four (4) Directors. All
Directors reside in Indonesia. Directors are appointed
by the GMS, with the period of five (5) years for
each member of Directors and may be reappointed
according to the decision of the GMS. The position of
members of the Directors expires if he/she resigns, no
longer meet the requirements, died, dismissed by the
Board of Commissioners or by decision of the AGM.
The appointment of Directors has passed the fit and
proper test in accordance with the applicable laws
and regulations of GCG. All members of the Directors
are required to have the integrity, competence and
reputation that are adequate.
Composition of the Directors are declared in order
to be able to carry out management activities in
accordance with the vision and mission as well as the
Company plans both for short term and long term.
The Directors consists of five (5) members with the
following composition:
Composition of Jasa Marga Directors
Name Position Basis of Appointment
Adityawarman President Director Resolution of Extraordinary GMS on 20 January 2012
Hasanudin Operation Director Resolution of Extraordinary GMS on 20 January 2012
Abdul Hadi Hs. Business Development Director Resolution of Extraordinary GMS on 20 January 2012
Reynaldi Hermansjah Finance Director Resolution of Extraordinary GMS on 20 January 2012
Muh Najib FauzanHuman Capital and General Affairs Director
Resolution of Extraordinary GMS on 20 January 2012
Fit and Proper TestAll members of the Directors of Jasa Marga have the integrity, competence, reputation and the experience
and expertise needed to carry out their respective functions and duties.
The Mechanism to pick up or nominate a candidate for the Directors is stipulated in the Regulation of the
Minister of State Enterprises No. PER-01/MBU /2012 dated January 20, 2012, with the last change that
Regulation of the Minister of State Enterprises No. PER-09 /MBU/2014 dated July 17, 2014 on the Third
Amendment to the Regulation of the State Minister for State-Owned Enterprises No. PER-01/MBU/2012
on Terms and Procedures for Appointment and Dismissal of Directors of the State-Owned Enterprises.
Shareholders of Dwiwarna carry out the fit and proper test by using the services of an independent party.
Results from an independent party is then submitted to the GMS for further elaboration.
246 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
DUTIES AND RESPONSIBILITIES OF THE DIRECTORSIn performing its duties and responsibilities, the
Directors always uphold and use the guidance of the
Articles of Association as well as internal provisions
and prevailing laws and regulations.
The main duties of Directors are as follows:
• To lead and manage the Company in accordance
with the Company’s objectives and aims, as well
as to continuously make every effort to improve
the efficiency and effectiveness of the Company.
• To control, maintain and manage the
Company’s assets.
The Directors undertake their duties of managing
the Company for the interests and meeting the
objectives of the Company and represent the
Company both inside and outside the court in
accordance with the mandate of the Shareholderd
as stated in the resolution of GMS. The Directors
are accountable for performing their duties to
the shareholders through the GMS. The Directors
continuously follow up the findings of audit and
recommendations resulted from the audit of internal
auditors and external auditors. The members of the
Directors are appointed and dismissed by the GMS.
In order to further synchronize with the Vision and
Mission of the Company, based on the Decision of
the Directors No. 60/KPTS/2009 dated 30 March
2009, with the latest change through the Decision
of Directors, No. 199/ KPTS/2011 dated December
30, 2011, about the duties and responsibilities of
each Directors the duties and responsibilities of
each member of the Directors are as follows:
President DirectorThe Duties and Authorities of the President Director
is to lead and ensure:
a. The achievement of the Company’s targets
based on its objectives and aims, Vision and
Mission as well as the Company’s Long-Term
Plan (RJPP), and the responsibility in the
operations of the Company.
b. The implementation of the management and
control of the functions of the Corporate
Secretary, Internal Control and Risk Management.
Operation DirectorThe Duties and Authorities of the Director of
Operations are to lead and ensure the achievement
of the Company’s targets based on the objectives
and aims, Vision and Mission as well as RJPP, and
being responsible for the running of the Company
in the field of toll road operation and maintenance,
comprising of:
a. Toll road operation in order to provide excellent
service to toll road users.
b. Toll fees collection.
c. Maintenance and improving toll roads along with
the facilities carried out either by the Company or
in cooperation with business partner.
d. Toll road security system.
e. Risk management related to toll road operation
as well as maintenance and improving toll roads
along with the facilities.
Business Development DirectorThe Duties and Authorities of the Director of
Business Development are to lead and ensure the
achievement of the Company’s targets based on the
Company’s objectives and aims, Vision and Mission,
and RJPP, and being responsible for the running of
the Company in the field of business development,
which covers:
a. Management of investment activities in
developing new toll roads carried out either
by the Company, Subsidiaries and/or in
cooperation with business partner.
Under the regulation, the status of the fit and proper test on the Directors in 2014 is as follows:
Fit and Proper Test Status of Jasa Marga Directors
Name Domicile Fit and Proper Test
Adityawarman Jakarta PassedHasanudin Jakarta PassedAbdul Hadi Hs. Jakarta PassedReynaldi Hermansjah Jakarta PassedMuh Najib Fauzan Jakarta Passed
247PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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b. Management of activities of developing other
businesses by maximizing the potential sources of
the Company, Subsidiaries and/or in cooperation
with business partner.
c. Supervision and control the performance of the
Subsidiaries.
d. Management and development of technology in
toll roads and other businesses development.
e. Risk management related to investments in new
toll road development and in other businesses.
Finance DirectorThe Duties and Authorities of the Director of
Finance are the lead and ensure the achievement
of the Company’s targets based on the Company’s
objectives and aims, Vision and Mission, and RJPP,
and being responsible for the running of the Company
in the field of finance along with the Company’s
information and technology, comprising of:
a. RKAP (corporate work and budget plan) and
RJPP.
b. Financial control of the Company.
c. Management of the Company’s financial
investment portfolio.
d. Management of the Company’s information
technology.
e. Risk management for finance-related policies.
f. Management of partnership program and
community development program (PKBL).
Human Capital & General Affairs DirectorThe Duties and Authorities of the Director of Human
Capital and General Affairs are the lead and ensure the
achievement of the Company’s targets based on the
Company’s objectives and aims, Vision and Mission,
and RJPP, and being responsible for the running of the
Company in the field of human capital development,
activities in general affairs and legal, comprising:
a. Development of the Company’s organization and
management.
b. Development of system and procedure of the
human capital management.
c. Development of competency of the human
capital.
d. Development and preservation of corporate
culture.
e. Management of the activities of logistics and
the Company’s assets security as well as other
general affairs activities.
f. Management of legal service function.
g. Risk management related to policies in
management and development of human capital,
general affairs and legal matters.
h. Management and supervision of the
implementation of Good Corporate Governance
principles within the Company.
The additional duty and authority of Human Capital
and General Affairs Director in relation to the
management and supervision of the implementation
of Good Corporate Governance principles within the
Company is based on the Decision of the Directors
No. 199/KPTS/2011 dated 30 December 2011 on
the Change in the Decision of the Directors of PT
Jasa Marga (Persero) Tbk. No. 60/KPTS/2009 on
Distribution of Duties and Authorities of Directors
(the addition of Letter h in Article 1 Paragraph (5) in
Decision of the Directors of PT Jasa Marga (Persero)
Tbk. No. 60/KPTS/2009 on Distribution of Duties
and Authorities of Directors).
With the said additional duty and authority, Jasa
Marga Directors have then appointed one member
of the Directors, i.e. Human Capital and General
Affairs Director as the Director responsible for
the implementation and supervision of GCG at
the Company. This also shows that the Company
responds to the enactment of the Decision of the
Secretary to the State Ministry for SOEs No. SK-
16/S.MBU/2012 dated 06 June 2012 on indicators/
parameters of assessment and evaluation of Good
Corporate Governance implementation at SOEs.
INDEPENDENCE OF DIRECTORSThe Directors are appointed to run all actions
related to the management of the Company or
relationship with other parties independently
without interference of any other parties or of those
that would conflict with the rules and regulations as
well as with the Company’s Articles of Association,
which materially may intrude on the objectivity
and independence of the Directors in carrying out
their tasks that are intended solely for the interests
of the Company. Based on the Company’s Articles
of Association, among members of Directors and
between each member of the Directors and each
member of the Board of Commissioners is not
related by blood within the third degree, both
vertically and horizontally, or by marriage.
248 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Content of the Board Manual is as follows:
Chapter I IntroductionContains description on the background, aims and purposes, as well as definition of items stated in Board Manual.
Chapter II Board of CommissonerChapter III DirectorsChapter Iv Activities of the Inter Organs of the Company
Contains a description of the activities carried out within the framework of labor relations board of commissioners and directors include about a joint meeting of the board of commissioners and directors general meeting of shareholders.
The arrangements of the Board Manual relating to Directors are contained in Chapter III of the Directors,
which regulate the following points:
Duties of Directors Introduction Program and Capability Enhancement
Obligations of Directors Professional Ethics of Directors
Authorities of Directors Meetings of Directors
Rights of Directors Performance Evaluation of Directors
Requirements of Directors Corporate Secretary
Membership of Directors Internal Control System
DIRECTORS COMPETENCY DEvELOPMENT AND TRAINING PROGRAMSIn 2014, members of the Company’s Board of Directors have participated in trainings and seminars
as follows:
Competency Development of Members of Directors in 2014
Member of Directors Subject Organizing Institution Date & venue
Muh Najib Fauzan Seminar on National Internal Audit
Yayasan Pendidikan Internal Audit (YPIA)
Lombok, 16-17 April 2014
Reynaldi Hermansjah Seminar Common Language Financial Reporting Standards
Indonesian Institute of Accountants
Yogyakarta, 11-12 June 2014
DIRECTORS DUAL POSITIONSBased on Article 11 Paragraph (13) of the Company’s
Articles of Association, members of the Directors are
prohibited to hold dual positions as:
1. Member of Directors at SOEs, local government-
owned enterprises, and private owned
enterprises, as well as other positions that may
cause conflict of interest.
2. Other structural and functional positions at any
central and local government institutions.
3. Other positions according to prevailing rules and
regulations.
In 2014, none of the members of Jasa Marga
Directors holds dual positions as stated in Article
11 Paragraph (13) of the Company’s Articles of
Association.
WORK GUIDELINES AND ORDERS FOR THE DIRECTORS (BOARD CHARTER)In carrying out their duties, the Directors refer to the
work guidelines for Board of Commissioners and
Directors (Board Manual). Board Manual comprises
guidelines on work procedures for the Board of
Commissioners and Directors and explanation
on stages of activities in manners that are well-
structured, systematic, easily understood, applicable
consistently, and serving as reference for Board of
Commissioners and Directors in carrying out each
of their duties to reach the Company’s Vision and
Mission, while achieving high work standard in line
with the principles of GCG.
Board Manual is created in view of the principles
of legal corporation, provisions of Articles of
Association, prevailing rules and regulations,
directions from Shareholder as well as best practices
of Good Corporate Governance.
249PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
DIRECTORS MEETINGSIn 2014, the Board of Directors held internal meeting as many as 48 (forty-eight) times.
Recapitulation of Attendance of Directors in Directors Meeting in 2014
Name Job TitleNumber of
Meetings in the Year
Number of Meetings Attended
Percentage of Attendance
(%)
Adityawarman President Director 48 47 97.91Hasanudin Operation Director 48 45 93.75Abdul Hadi Hs. Business Development Director 48 44 91.66Reynaldi Hermansjah Finance Director 48 43 89.58Muh Najib Fauzan Human Capital & General Affairs Director 48 43 89.58TOTAL 92.49%
Note:Absence of Members of Directors at meetings was due to their being assigned out of town or attending important meeting/event unable to be represented.
Decisions made in Jasa Marga Directors’ Meetings
have been well recorded and documented in Directors’
Minutes of Meeting, which are signed by meeting
chairman and distributed to all members of Directors
who are both present and absent at the meetings.
Dissenting opinion along with its reasons during the
meeting will be stated in the Minutes of Meeting.
Agenda of Directors’ Meeting among others were as
follows:
1. Business Developmenta. Study on the plan to develop over the sea
toll Road
b. Potential land for property development in
Depok-Antasari toll road corridor
c. Plan to develop rest and service area at
Km 88, Cipularang
d. Property development at Ex-Workshop
land
e. Establishment of a subsidiary to manage
TIP
f. Development for Non Toll Business in Bali
g. Business development and optimization
of potential area along Bali-Mandara Toll
Road.
2. Operationa. Policy for operational management
and fulfillment of operational officers at
Subsidiary firm
b. Program to accelerate the construction of
JORR W2 North
c. Implementation of E-Toll Card in closed
system
d. Standardization of the Toll Gate design
e. The control of Magnetic Official Card
(KDM) at inner city toll road
f. Trial of New E-Toll Pass
g. Operating the Meruya 3 and 4 toll gates
3. Financea. Change of schedule for dividend payment
phases
b. Issuance of Bonds through regular public
offering (PUB) Phase II on regular basis
c. Purchase PT Ismawa shares
d. Capital injection into PT TMJ
e. Final Draft of RKAP 2015
f. Approval and Determination RKAP 2015
g. Capital injection to PT MSJ
4. Human Resources and General Affairsa. Distribution of duties of directors for risk
management policy and Quality/K3
b. Distribution of Duties of Directors
c. Replacement of Executives at Subsidiaries
d. Recruitment of Th Fresh Graduates 2014
e. Implementation of Human Capital
Management System in subsidiary firms
f. Revew of organizational structure of rest
area business units
g. Study of Organizational Structure of PT
JLJ
250 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
DECISIONS OF DIRECTORS IN 2014In 2014, members of the Directors have issued various decisions in the aspects of human resources
management, finance, and business operation, as well as strategic aspect.
The Directors have issued a total of 179 decisions in 2014, among others as follows:
✓ Wealth report of State officials (LHKPN) employees of the Company
✓ Standar Procedure Financial Transactions PT Jasa Marga (Persero) Tbk.
✓ Guidelines for Coaching, Mentoring and Counseling
✓ Guidelines for Examination and Inspection of the Implementation Toll Road Operation
✓ Standar Operating Procedures for Procurement of Goods/Services in the Corporate Environment
✓ Program Social Security Workers at PT Jasa Marga (Persero) Tbk
✓ Division of Duties and Authorities of the Board of Directors of PT Jasa Marga (Persero) Tbk.
✓ Determinig job title for members of Directors apart from President Director in accordance with duties and authorities
✓ Guideline for Socialization and Evaluation of Vision, Mission and Corporate Values
✓ Guideline for management of employee satisfaction and engagement
✓ Policy on information technology governance of PT Jasa Marga (Persero) Tbk.
✓ Master Plan for Information Technology of PT Jasa Marga (Persero) Tbk. for period of 2014-2018.
✓ Report on wealth of State Officials (LHKPN) for employees of the Company
✓ Standard Procedure for finance transactions of PT Jasa Marga (Persero) Tbk.
PROCEDURES, BASIS OF DECISION AND AMOUNT OF REMUNERATION OF MEMBERS OF DIRECTORSReferring to Article 96 Paragraph (1) of Law of Limited Liability Company No. 40 of 2007, the amount of salary
and allowance of Directors is decided based on resolutions of GMS. This authority, based on Article 96 Paragraph
(2) may be delegated to the Board of Commissioners.
Meanwhile, Article 113 of Law on Limited Liabilities Company No. 40 of 2007 regulates that the amount of salary
and allowances of the Directors are decided by GMS.
Procedure for Determining Remuneration of Directors
DIRECTORSGENERAL MEETING OF SHAREHOLDERS (GMS)
Conducting review before determining remuneration
Reviewing remuneration proposal
Proposing to GMS Giving approval on remuneration
The form of allowances, facilities, and other components included in the component of income (other than
salary) refers to the Regulation of the State Minister Per-04/MBU/2014 dated March 10, 2014 on Guidance
on Deciding the Remuneration of Directors, Board of Commissioners and Supervisory Board of SOEs.
251PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
Corporate Social Responsibility
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Glossary Consolidated Financial Statements
THE DIRECTORS OF PT JASA MARGA (PERSERO) TBK.
Fixed remuneration such as salary/honorarium, allowances and facilities is decided while considering the
factors of the Company’s revenues, assets, financial condition and capability, along with inflation rate and
other relevant factors not contradicting with prevailing rules and regulations. Meanwhile, allowances and
tantieme that are on variable basis are decided while considering the factors of target achievements,
financial condition and health along with other relevant factors (merit system).
Remuneraiton of the Company’s Directors at present complies with the abovementioned regulation, in which
the Remuneration of Directors consists of:
1. Salary/Honorarium.
2. Allowance.
3. Facilities.
4. Tantiem/Performance incentives.
252 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Structure of Directors RemunerationBased on Regulation of State Minister for SEOs No. PER-
04/MBU/2014 on Guidelines on Deciding Remuneration of
Directors, Board of Commissioners and Supervisory Board
of SOEs, Board of Commissioners remuneration structure
is as follows:
1. Salary (determined by GMS)
2. Allowance
a. Religious Festivity Allowance (THR)
b. Communication Allowance
c. Compensation for Post Job
d. Allowance for Clothing
3. Special Allowance for Directors
a. Annual Leave Allowance
b. Long Leave Annual
c. Housing Allowance
d. Utilities Allowance
4. Facilities
a. Vehicle (if it is not given, it can be replaced with
special allowance for Board of Commissioner
as mentioned in number 3 above, namely
Transportation Allowance)
b. Health Insurance /facilities to replace medical costs
c. Professional Association.
d. Legal Assistance.
5. Special Facilities for Directors
a. Company House
b. Club Membership/ Corporate Member
c. Representation and Entertainment
6. Tantieme
The remuneration for 2014 and Tantieme
Financial Year 2012 for members of
Directors was based on the Decision of
the Board of Commissioners on Decision
of Remuneration 2014 and Tantieme
Financial Year 2013 for Members of the
Directors and Members of the Board
of Commissioners of PT Jasa Marga
(Persero) Tbk. Based on the said decision,
the salary of President Director was Rp
115,000,000 (one hundred and fifteen
million Rupiah) per month, whereas
that of other members of Directors was
90% of President Directors’ salary. The
allowances and facilities for the Directors
and Board of Commissioners refer to the
provisions stipulated in the Regulation of
State Minister for SOEs No. No. PER-04/
MBU/2014.
Tantieme for the Directors and Board
of Commissioners for the performance
in 2011 was decided Rp 17,994,117,647
(seventeen billion, nine hundred ninety
four million, one hundred seventeen
thousand, six hundred forty seven
Rupiah) and is divided in accordance
with the Composition of Job Factor as
well the term of office of each member
of Directors and Board of Commissioners
during the financial year.
Realization of Directors Remuneration in 2014 Types of remuneration received by Directors in 2014 were as follows:
Remuneraiton of Membes of Directors in 2014 (in Rupiah)
Name Salary/YearAllowances/Year Total Income/
YearHousing Utilities THR Tantieme
Adityawarman - President Director
1,319,240,000 310,500,000 18,900,000 115,000,000 2,794,117,648 4,557,757,648
Hasanudin - Operation Director
1,204,114,590 310,500,000 18,900,000 103,500,000 2,514,705,882 4,163,220,472
Abdul Hadi Hs. - Business Development Director
1,159,970,000 310,500,000 18,900,000 103,500,000 2,514,705,882 4,119,075,882
Reynaldi Hermansjah - Finance Director
1,197,328,852 310,500,000 18,900,000 103,500,000 2,514,705,882 4,156,434,734
Muh Najib Fauzan - Human Capital & General Affairs Director
1,150,230,000 310,500,000 18,900,000 103,500,000 2,514,705,882 4,109,335,882
253PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Comparison of classification of Directors Remuneration in 2014 and 2013 can be seen in the following table:
Comparison of Directors Remuneration Classification in 2014 and 2013
Remuneration per Person in 1 Year 2014 2013
Above Rp 1 billion 5 5
Between Rp 500 million and Rp 1 billion - -
Below Rp 500 million - -
Relationship between Board of Commissioners and Directors
The duties and responsibilities of the Board of
Commissioners and Directors as two corporate
organs are separated as each has different daily
operation. Board of Commissioners main task is
supervising and giving advice whereas Directors
main task is managing the operation of the
Company.
The Board of Commissioners and Directors respect
and understand each other’s duties, responsibilities
and authorities according to prevailing rules and
regulations as well as Articles of Association. The
Board of Commissioners and Directors are required
to coordinate and cooperate to reach business
objective and sustainability in the long run and serve
as role model to those in the lower levels.
Informal relationship may be carried out by each
member of the Board of Commissioners and
Directors; however, it does not have legal force
until being decided through legal mechanism in
accordance with prevailing rules and regulations
as well as Articles of Association of the Company.
In certain strategic issues related to asset, loan,
equity, organizational structure as well as decision
of directors and commissioners of Subsidiaries, the
Directors require Board of Commissioners formal
approval.
All procedures, work guidelines and relationship
between the Board of Commissioners and Directors
have been decided in Board Manual, binding
each member of the Board of Commissioners
and Directors and stipulating among others
responsibilities, duties, authorities, rights, and
ethics of Board of Commissioners and Directors, as
well as arrangements of meetings and procedures
of work relations between Board of Commissioners
and Directors.
In order to unite the views and to decided
significant matter concerning the Company’s
business sustainability and operation, the Board
of Commissioners and Directors schedule
periodic discussion in Board of Commissioners
and Directors’ Joint Meetings. The periodic
meetings are held to discuss various agenda
in relation to work plan, operational activities,
business opportunities, along with strategic issues
requiring Board of Commissioners’ approval. The
said meetings serve as the form of coordination
to discuss Directors’ periodic reports and give
feedbacks, notes and advice which are all
stipulated in the Minutes of Meeting.
Meeting decisions, made based on either the
principle of deliberation for consensus or voting,
are binding and are to be followed up. In the
voting process, any member of the Board of
Commissioners with conflicting interest is not
allowed to vote and information on this matter is
stated in the Minutes of Meeting.
254 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Throughout 2013, the Board of Commissioners and Directors have held 18 (eighteen) times Joint Meetings of
Board of Commissioners and Directors.
Attendance of Board of Commissioners and Directors at Joint Meeting between Commissioners Board and Directors in 2014
Name Job TitleNumber of Meetings in
the Year
Number of Meetings Attended
Percentage of Attendance (%)
Agoes Widjanarko President Commissioner 18 18 100
Ibnu Purna Commissioner 18 18 100
Akhmad Syakhroza Commissioner 18 14 77.77
Boediarso Teguh Widodo Commissioner 15 14 93.33
Mayjen. (Purn). Samsoedin Independent Commissioner 18 18 100
Irjen. Polisi (Purn.) Michael Dendron Primanto
Independent Commissioner18 18 100
Adityawarman President Director 18 17 94
Hasanudin Operation Director 18 15 83
Abdul Hadi Hs. Business Development Director 18 14 78
Reynaldi Hermansjah Finance Director 18 14 78
Muh Najib Fauzan Human Capital & General Affairs Director 18 15 83
Note:Absence of Members of Board of Commissioners and Directors at meetings was due to their being assigned out of town or attending important meeting/event unable to be represented.
Assessment of Board of Commissioners and Directors
ASSESSMENT IMPLEMENTATION PROCESS The Shareholders, through the mechanism of GMS,
conduct assessment of the performance of the
Board of Commissioners and Directors. Additionally,
the Board of Commissioners also creates guidelines
on self-assessment of the performance of the Board
of Commissioners by issuing Decision Letter of the
Board of Commissioners No. KEP-00177/XI/2012 on
Decision of Revision to Performance Assessment
System of the Board of Commissioners of PT Jasa
Marga (Persero) Tbk. in 2012.
PERFORMANCE ASSESSMENT CRITERIAThe criteria for performance assessment of the
Board of Commissioners are as follows:
1. GMS.
2. Financial Supervision.
3. Operational Supervision.
4. Development Supervision.
5. Human Resources.
6. Compliance Supervision.
7. Board of Commissioners’ Internal Process
The criteria for performance assessment of the
Directors consist of:
1. Implementation of duties and responsibilities of
each member of the Directors according to the
Articles of Association.
2. Implementation of resolutions of Annual GMS
of 2011.
3. Achievement and realization of RKAP (work and
budget plan).
RESULTS OF GCG ASSESSMENT OF BOARD OF COMMISSIONERS AND DIRECTORSIn 2014, assessment on GCG implementation of
Directors and Board of Commissioners was carried
out and the process was in accordance with GCG
assessment reference developed by the State
Ministry for SOEs based on the Decision of the
Secretary of State Ministry for SOEs No. SK-16/S.
MBU/2012 dated 06 June 2012. The assessment
results showed that Board of Commissioners and
Directors each achieved the score of 96.26% and
96.84%, respectively.
255PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
In general, GCG assessment of the Board of
Commissioners consists of the following aspects:
1. Board of Commissioners participates in
continuous training and learning programs.
2. Board of Commissioners distributes duties,
authorities and responsibilities clearly and
determines factors required to support the
carrying out of Board of Commissioners’ duties.
3. Board of Commissioners conducts supervision
on the implementation of policies of managing
Subsidiaries/joint ventures.
4. Board of Commissioners plays the role in
candidacy of members of Directors, performance
assessment of Directors (individual and collegial)
and proposes tantieme/performance incentive
based on prevailing rules and regulations as well
as Directors’ performance.
5. Board of Commissioners performs required
actions in relation to potential conflict of interest.
6. Board of Commissioners monitors and ensures
that the practices of Good Corporate Governance
have been effectively and continuously
implemented.
7. Board of Commissioners holds effective Board
of Commissioners’ Meetings and attends Board
of Commissioners’ Meetings in accordance with
prevailing rules and regulations.
8. Board of Commissioners has Secretary of Board
of Commissioners to support secretarial duties of
Board of Commissioners.
9. Board of Commissioners has Board of
Commissioners committees that are effective.
In general, GCG assessment of the Directors consists of
the following aspects:
1. Directors have introductory and training/
learning programs and carry out the programs
continuously.
2. Directors carry out operational and financial
control of the implementation of the Company’s
policies and plan.
3. Directors carry out the management of
Company in accordance with prevailing rules and
regulations as well as the Articles of Association.
4. Directors nurture relationship that adds value to
the Company and the Stakeholders.
5. Directors monitor and manage potential conflict
of interest of members of Directors and the
Management under the Directors.
6. Directors ensure that the company performs
communication and information disclosure
according to prevailing rules and regulations
and submission of information to the Board
of Commissioners and the Stakeholders is in a
timely manner.
7. Directors hold Directors’ Meetings and attend
Directors’ Meetings according to prevailing rules
and regulations.
8. Directors are obligated to carry out effective
internal supervision of high quality.
9. Directors carry out the function of effective
Corporate Secretary of high quality.
10. Directors convene Annual GMS as well as other
GMS in accordance with prevailing rules and
regulations.
DIRECTORS’ KEY PERFORMANCE INDICATORPerformance of the Management is measured using
Key Performance Indicator based on Criteria for
Excellent Performance Assessment (Kriteria Penilaian
Kinerja Unggul – KPKU) for State-Owned Enterprises
(SOEs) referring to Letter of State Ministry for SOEs
No. S-08/S.MBU/2013 dated 16 January 2013 on
Performance Reporting Based on the Approach of
Criteria for Excellent Performance Assessment (Kriteria
Penilaian Kinerja Unggul – KPKU) for SOEs. The
measurements of Directors’ performance are divided
into five (5) perspectives with a total of eighteen (18)
key performance indicators as follows:
256 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Perspective Key Performance Indicator
Finance and Market
1. Return On Average Equity (ROE)
2. Net Profit Margin
3. Operating Margin
4. Market Share of Length of Toll Roads
5. Non-Toll Revenues
Costumers Focus
6. Market Share of Transaction Traffic Volume
7. Toll Road Users Satisfaction Index
8. SPM Fulfillment
Effectiveness of Product and Process
9. Number Toll Road Concessions Acquired
10. Progress of Toll Road Projects
11. Transaction Time (Average Transaction Speed)
12. Average Travel Time on Toll Road compared to that on Non-Toll Road
Employees Focus13. Human Capital Readiness – Job Formation Fulfillment
14. Human Capital Readiness – Competencies Fulfillment
Leadership, Corporate Governance and Community
15. KPKU Score
16. GCG Score
17. IT Implementation
18. Corporate Social Responsibility Programs
The said measurements of Directors performance are agreed and signed jointly by Directors and serves as
part of the Management Contract between the Board of Commissioners and Directors.
THE PARTY THAT CONDUCTED THE ASSESSMENTIn 2014, assessment activity of the Directors was carried out by the Board of Commissioners whereas
assessment of the Board of Commissioners was carried out by means of self-assessment, in which a
member of Board of Commissioners was assessed by another member of the Board of Commissioners.
Meanwhile, in arranging KPI (Key Performance Indicators) of the Board of Commissioners, the Company was
assisted by Lembaga Manajemen of the Economic Faculty of the University of Indonesia (LMFE UI).
As for GCG assessment in 2014, the assessment was undertaken by using parameter that has been set up by
the Ministry of SOE and ASEAN Score Card.
Diversity in the Composition of Board of Commissioners and Directors
In order to implement the process and mechanism of the election and replacement of members of the
Board of Commissioners and Board of Directors in a transparent, accountable and accountable way, the
Company has followed the requirements and procedures stipulated by the Regulation of the Minister of
State Enterprises No. PER-02/MBU/02/2015 dated February 17, 2015 on the Requirements and Procedures
for Appointment and Dismissal of Members of the Board of Commissioners and the Board of Trustees
of State Owned Enterprises, as well as the Regulation of the Minister of State Enterprises No. PER-03/
MBU/02/2015 dated February 17, 2015 on Conditions, Procedures for Appointment and Dismissal of
Directors Member State-Owned Enterprises.
Directors’ Key performance indicator
257PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
Diversity of the Composition of the Board of Commissioners and Directors
Board of Commissioners/ Directors
Educational Background
Work Experience
(year)Age Gender
S1 S2 S3 ≤ 20 ≥ 20 ≤ 50 ≥ 50 Male Female
Agoes Widjanarko ü ü ü ü
Ibnu Purna ü ü ü ü
Akhmad Syakhroza ü ü ü ü
Boediarso Teguh Widodo ü ü ü ü
Mayjen. (Purn). Samsoedin ü ü ü ü
Irjen. Polisi (Purn.) Michael Dendron Primanto
üü ü ü
Adityawarman ü ü ü ü
Hasanudin ü ü ü ü
Abdul Hadi Hs. ü ü ü ü
Reynaldi Hermansjah ü ü ü ü
Muh Najib Fauzan ü ü ü ü
Committees
AUDIT COMMITTEEThe Audit Committee of the Company was established by the Decision of Board of Commissioners No.
KEP-022/I/2014 dated 30 January 2014 regarding the Reappointment of Chairman and Members of
the Audit Committee of PT Jasa Marga (Persero) Tbk. for two (2) year term, from February 1, 2014 until
January 31, 2016.
Dismissal of members of the Audit Committee can be done if the person concerned ended the tenure
membership and based on the decision of the Board of Commissioners, was dismissed because the member
does not meet the set performance and/or incompetent in performing his/her duties.
The Composition of the Audit Committee consists of one (1) person serves as Chairman of the Committee as
well as a member and 2 (two) members of the Committee.
The composition of the Audit Committee members of the Company is as follows:
Composition of Jasa Marga Audit Committee
Name Job Title
Irjen. Polisi (Purn.) Michael Dendron Primanto Chairman and Member – Independent Commissioner
Agita Widjajanto Member – Expert in Technical Aspects
Rustam Wahjudi Member – Expert in Administration and Financial Aspects
Legal Basis on the Forming of Audit CommitteeAudit Committee of the Company was formed based on the following rules/regulations:
1. Law of the Republic of Indonesia No. 19 of 2003 on State-Owned Enterprises.
2. Decision of the Directors of the Jakarta Stock Exchange No. Kep-305/BEJ/07-2004 dated 19 July
2004 on Regulation No. I-A on Listing of Shares (Stock) and Equity-Type Securities Other than Stock
Issued by Listed Companies.
3. Decision of Chairman of Bapepam-LK No. Kep-29/ PM/2004 dated 24 September 2004 Attachment:
Regulation IX.I.5 on Forming and Guidelines on Audit Committee Implementation.
258 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
4. Law of the Republic of Indonesia No. 40 of
2007 on Limited Liability Companies.
5. Regulation of the State Minister for SOEs
No. PER-05/MBU/2006 dated 20 December
2006 on Audit Committee for State-Owned
Enterprises.
Educational qualification and Work ExperienceThe Company’s Audit Committee has sufficient
educational qualification and work experience
in supporting the implementation of duties as
Audit Committee. The profile of Audit Committee
members is provided in Profile of Audit Committee.
The recruitment process of Audit Committee
Members is carried out by the Board of
Commissioners by considering competencies,
expertise and integrity as well as ability to
cooperate. The Board of Commissioners conducts
interview to deepen the information on the
candidates Audit Committee members. The Board
of Commissioners then conducts interview to decide
the selected members of Audit Committee. Next,
the decision and appointment of Audit Committee
members is carried out through the Decision Letter
of the Board of Commissioners.
All Jasa Marga Audit Committee Members have
integrity, as well as good financial competencies and
reputation.
Tasks and Responsibilities of Audit CommitteeIn accordance with Regulations of the State Minister
for StateOwned Enterprises No. PER-05/MBU/2006
dated 20 December 2006 on Audit Committee for
State-Owned Enterprises, the main function of Audit
Committee is to assist the Board of Commissioners
in fulfilling the supervision function in order that the
management of the Company is able to take place
efficiently and effectively. In carrying out the duties
and report, Audit Committee is independent and
reports directly to the Board of Commissioners.
In carrying out its duties, Audit Committee reports
to the Board of Commissioners. The accountability
of Audit Committee to the Board of Commissioners
represents supervision accountability of the
management of the Company in the framework of
GCG principles implementation.
Based on Audit Committee Charter legalized by
the Board of Commissioners in the Decision of the
Board of Commissioners No. KEP-00.06/I/2008
dated 22 January 2008 on Audit Committee
Charter of PT Jasa Marga (Persero) Tbk., the
duties and responsibilities of the Audit Committee
are as follows:
a. Assisting the Board of Commissioners in making
sure the effectiveness of internal control systems
and the effectiveness of the implementation of
internal and external auditors’ duties.
b. Evaluating the implementation of audit works
and audit results undertaken by both internal and
external auditors.
c. Recommending improvements for the internal
control system of the Company along with its
implementation.
d. Assuring the existence of excellent review
procedures of all information disclosed by the
Company, including periodic financial statements,
financial projection/prognoses along with
other financial information submitted to the
Shareholders.
e. Assuring the compliance of procedures of
excellent review on the carrying out of the
Company’s activities in accordance with
prevailing standard operating procedures.
f. Giving opinions to the Board of Commissioners
regarding report or other matters submitted to
the Directors or the Board of Commissioners.
g. Identifying issues requiring attention of the
Board of Commissioners, and undertaking
other duties related to the Board of
Commissioners, including:
1. Reviewing financial information that will be
published by the Company such as financial
report, Long-Term Plan, Work and Budget
Plan, Management Report as well as other
financial information.
2. Reviewing the Company’s compliance to
prevailing laws and regulations of the Capital
Market as well as other regulations related to
the Company.
259PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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3. Reviewing the audit undertaken by internal auditor and reviewing adequacy of internal audit function
including the number of auditors, annual work plan and assignment carried out.
4. Reporting to the Board of Commissioners on various risks the Company faces and the implementation
of risk management by the Directors.
5. Reviewing and reporting to the Board of Commissioners on complaints related to the Company.
6. Reviewing adequacy of external audit implementation including audit plan and the number of auditors.
Independence of Audit CommitteeThe Audit Committee is chaired by an Independent Commissioner who assisted by two other professional
members from outside the Company with Financial and Engineering background, in accordance with the
Company’s field of industry. This complies with the regulation stipulated in the Decision of Chairman of
Capital Market Supervisory Agency (Bapepam-LK) No. Kep-29/PM/2004 on the Forming and Guidelines
on Work Implementation of Audit Committee. In carrying out their duties, the Audit Committee works
professionally and independently.
Audit Committee members have complied with requirements in terms of quantity, composition, criteria,
competencies, and independence based on the provisions in the Decision of Chairman of BapepamLK
No. Kep-29/PM/2004 dated 24 September 2004, Attachment: Regulation IX.I.5 on the Forming and
Implementation Guidelines for Audit Committee, and Regulation of State Minister for SOEs No. PER-05/
MBU/2006 dated 20 December 2006 on Audit Committee for State-Owned Enterprises and No. PER-12/
MBU/2012 dated 24 August 2012 on Organs Supporting Board of Commissioners/Supervisory Board of
State-Owned Enterprises, which are:
• Audit Committee, consisting of one member of Independent Commissioner as Chairman of Audit
Committee and two members coming from outside SOE.
• Each member of Audit Committee is not related by blood by blood within the third degree, both vertically
and horizontally, or by marriage with members of the Board of Commissioners and/or the Directors.
• One of the members of Audit Committee has educational background of accounting or finance and
comprehends risk management, whereas another member comprehends the industry/business/
technicality of the related SOE.
In carrying out their duties, the Audit Committee works professionally and independently.
Independence of Audit committee
Aspect of IndependenceIrjen. Polisi (Purn.) Michael Dendron
PrimantoAgita Widjajanto Rustam Wahjudi
Not related financially with Board of Commissioners and directors
ü ü ü
Not related by management with Jasa Marga, Subsidiaries as well as affiliated companies
ü ü ü
Not related by blood with Board of Commissioners, Directors, and/or fellow Committee members
ü ü ü
Not related by blood with Board of Commissioners, Directors, and/or feollow Committee Members
ü ü ü
Not holding position in the management of political Party, local governments.
ü ü ü
260 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
As a commitment and responsibility of the Audit Committee on the implementation of the principles of
Good Corporate Governance (GCG), as well as efforts to implement the provisions on the independence
as stated in the Charter of the Audit Committee, the Audit Committee made a Statement of Independence
of the Committee Audit dated January 5, 2012, signed by the Chairman and all Members of the Audit
Committee (Statement of Independence of the Audit Committee referred to above is not renewed because
of membership Audit Committee in 2014 remained the same as in 2012). Some important points in the
Statement of Independence of the Audit Committee, among others, that the Audit Committee:
a. Has no interest/private linkages that may cause negative impacts and conflict interests in PT Jasa Marga
(Persero) Tbk.
b. Does not own shares of PT Jasa Marga (Persero) Tbk, either directly or indirectly.
c. Will maintain the confidentiality of documents, data, and information PT Jasa Marga (Persero) Tbk, both
of the parties internal and external parties, and only used for the sake of implementation of tasks of the
Audit Committee.
Audit Committee MeetingsAudit Committee holds periodic meetings with reference to Audit Committee Charter.
The meeting with external auditor is carried out at least once a month during audit schedule. Audit
Committee meeting may invite the Company’s Management through its Internal Auditing Unit to provide
information required.
The attendance of each member of Audit Committee in Audit Committee Meeting and the activities carried
out by Audit Committee throughout the year 2014 are as follows:
Attendance of Members of Audit Committee in Audit Committee’s Meetings and Activities in 2014
Meetings/Activities Frequency (times)
Irjen. Polisi (Purn.) Michael
Dendron Primanto
Ketua Komite
Agita W.Anggota
Rustam W.Anggota
Attendance Attendance Attendance
times % times % times %
Audit Committee Internal Meeting 17 17 100 12 70.6 13 76.5Meeting with SPI 4 3 75 2 50 4 100Meeting with Negotiation Team/KAP Selection 6 3 50 2 33 6 100Monitoring Audit Activities/KAP 3 1 33 1 33 3 100Meeting with Directors /Management 5 5 100 4 80 4 80Meeting with Corporate Secretary/Secretary of Board of commissioners 8 8 100 6 75 5 62.5
Internal Meeting of Board of Commissioners 12 12 100 11 91.7 12 100Meeting with PKBL Unit 2 0 0 0 0 2 100Visiting branch with Board of Commissioner 7 7 100 6 85.7 7 100Working Visit to Subsidiaries 2 2 100 2 100 2 100Site Visit 4 4 100 3 75 4 100
TOTAL 70 62 88.6 49 70 62 88.6
The decisions made in Jasa Marga Audit Committee meetings have been well recorded and documented
in minutes of meeting of Audit Committee. Minutes of Meeting is signed by meeting chairman and is
distributed to all members of Audit Committee both present and absent in the meeting. Dissenting opinion
along with its reasons during the meeting will be stated in the Minutes of Meeting.
261PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Remuneration of Audit CommitteeBased on Regulation of State Minister for SOEs No. PER-12/MBU/2012 dated 26 July 2012 on Organs of Board
of Commissioners/Supervisory Board on State-Owned nterprises, Members of Audit Committee that are not
members of the Board of Commissioners receive remuneration consisting of honorarium amounting to Rp
18,400,000 monthly.
Achievement of Audit Committee Key Performance Indicators (KPI)In performing its duties, the Audit Committee is always guided by the Audit Committee Program (PKKA), where
PKKA in 2014 was approved by the Board of Commissioners through the Internal Meeting of the Board of
Commissioners on January 23, 2014. In general, PKKA 2014 has been implemented in accordance with the target
that has been set.
From the perspective of achievement of Key Performance Indicators (KPI), then performance of the Audit
Committee in the year of 2014 was as follows:
No. KPI Perspective Weight%
Score
Target Realization
1 Supervision on Internal Audit activities 15 0.75 0.70
2 Supervision on External Audit activities 15 0.75 0.75
3 Supervision on Finance/Management information 30 1.50 1.50
4 Internal Process of Audit Committee 20 1.00 1.00
5 Support to the Working Program of Board of Commissioner 20 1.00 0.80
TOTAL 100 5.00 4.75
REPORT ON IMPLEMENTATION OF TASKS OF AUDIT COMMITTEEAssessing the Implementation of Activities and Audit Results Carried out by External Auditor as well as Independent AuditorGeneral Audit of Financial Statements of PT Jasa Marga (Persero) Tbk. Financial Year 2014 was conducted
by the same Independent Auditor having audited Financial Statements of Financial Year 2013, i.e. Public
Accounting Firm (KAP) Aryanto, Amir Jusuf, Mawar dan Saptoto (AAJ).
Audit by KAP AAJ the Financial Year 2014 is the third audit in a row, starting from the audit of the Financial
Statements for Fiscal Year 2012. The reappointment of KAP AAJ to conduct the audit for fiscal year 2014
was not contrary to Article (4) Law of the Republic of Indonesia No. 5 of 2011 on Public Accountant,
particularly related to restrictions of Audit Service of Public Accountant on the historical financial
information a client for several years in a row. The reappointment of KAP AAJ has been done through the
process of Direct Appointment by Price Negotiation, and has been approved and declared by the Annual
General Meeting of Shareholders (AGMS) on March 11, 2014.
The Audit Committee has conducted a review of the adequacy of the audit conducted by the Public
Accountant AAJ, including audit planning and the number of auditors. In addition, the Audit Committee
has conducted intensive discussions with Saptoto, the Signing Partner of KAP AAJ who was responsible
for giving an opinion on the fairness of the presentation of the Consolidated Financial Statements in
accordance with the applicable Financial Accounting Standards (GAAP) in Indonesia, as well as their
opinion on the effectiveness of internal control over financial reporting, the quality and acceptability of
accounting standards applied by the Company. Review and discussion undertaken by the Audit Committee
also has covered all things according to the Auditing Standards, Regulations FSA and other regulations
regarding communication with the Audit Committee should be discussed with the Audit Committee.
262 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Audit Committee has also discussed the independence of KAP against the Company’s Management
and to the Company itself. During the financial year 2014 there were no non-audit assignments to AAJ
KAP, and the Audit Committee has received a letter from the firm AAJ which explained its independence.
Other Audit Assignments to KAP AAJ• Audit Committee has analyzed Management Report and Report of KAP AAJ on the effectiveness of
internal control of the Company’s financial reporting and the company’s Performance Evaluation. With
the Management and KAP, Audit Committee has also discussed significant weaknesses found in the
evaluation and audit processes, along with Management’s plan to fix the said weaknesses.
• The Audit Committee has discussed with the Company’s Internal Audit Unit and KAP AAJ about the
entire audit scope and plans. The Audit Committee has also conducted meetings with Internal Auditor
and KAP AAJ without the presence of the Management to discuss results of audit and results of
evaluation of KAP on internal control and the quality of financial reporting altogether.
The Audit Committee has also analyzed and discussed the Consolidated Financial Statements and Notes
to Consolidated Financial Statements with the Management of the Company. The said discussion covered
the quality and acceptability of financial accounting standard applied by the Company, appropriateness of
accounting judgment and sufficiency of disclosure in consolidated financial statements.
The Management has informed the Audit Committee that Consolidated Financial Statement for 2014
referred to above were:
1. The responsibility of the Management and has been presented objectively with the highest integrity; and
2. Have been presented in accordance with Financial Accounting Standard applicable in Indonesia.
Audit Committee
Irjen. Polisi (Purn.) Drs. Michael Dendron PrimantoChairman
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PROFILE OF AUDIT COMMITTEE
Irjen. Polisi (Purn.) Drs. Michael Dendron PrimantoCHAIRMAN
He was appointed Chairman of Audit Committee in January 2010. At present he is also Independent Commissioner of Jasa Marga. Profile is available in Profile of
Board of Commissioners.
Rustam WahjudiMEMBER
• Joined Jasa Marga Audit Committee in 2011.
• Completed Bachelor’s Degree in Accounting from Financial Institute of the Department of Finance in 1981.
• Career started at BPKP (Financial and Development Supervisory Board) in 1975. Several positions at BPKP among others included Director in Supervising Managing State Financial Sector, Region II at BPKP Head Office (2008-2010), Head of BPKP Riau Province Representative Office (2005-2008), Head of Administration Division at BPKP East Java Province Representative Office (2004-2005), Head of Sub Directorate for Supervising Natural Resources and Production at BPKP Head Office (2002-2004), Head of Sub Directorate for Oil Supervisory at BPKP Head Office (2000-2002), Head of BUMN/BUMD Supervisory Division at BPKP NAD Province Representative Office (1998-2000), Head of Agrarian Supervisory Section at BPKP East Java Representative Office (1995-1997), and Head of Planning, Analysis and Evaluation Section at BPKP Maluku Province Representative Office (1990-1995).
• Age as of 31 December 2014
was 62.
Agita Widjajanto MEMBER
• Joined Jasa Marga Audit Committee in 2011.
• Completed Bachelor’s Degree in Civil Engineering from Bandung Institute of Technology in 1995 and Master’s Degree in Tunnel Engineering from International Institute for Infrastructures, Hydraulic and Environmental Engineering (IHE) Delft, Netherlands in 2001.
• Currently is also Head of Investment Scheme Development, Center for Investment Resource Development, Construction Development Agency, Ministry of Public Works. Previous position included Head of Sub Division for Investment Control, Investment Division, Secretariat of Indonesian Toll Road Authority (BPJT), Ministry of Public Works (2005-2011). Since 2005, he has been actively involved in numerous tender committees, working groups, projects, task forces, etc. of the Ministry of Public Works, among others, BPJT and Directorate General of Highways, as a member, counterpart, source person, etc. He received several awards, among others, Satya Lancana Karya Satya X Tahun from the Government (2008) and Singapore Cooperation Programme Training Awards (SCPTA) at Lee Kuan Yew School of Public Policy and Civil Service College International, Singapore (2006).
• Age as of 31 December 2014 was 43.
264 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Tasks and Responsibilities of Business Risk and Investment CommitteeBusiness Risk and Investment Committee reports to
and assist the Board of Commissioners in carrying
out the duties in order that the management of
the Company takes place efficiently and effectively
through competent and independent control and
system. Based on Business Risk and Investment
Committee Charter, the duties and responsibilities
of the Business Risk and Investment Committee are
as follows:
1. Evaluating short-term and long-term investment
plan stated in the Company’s RJPP and RKAP
and submitting the evaluation to the Board of
Commissioners as inputs in arranging and or
reviewing RJPP, as well as in discussing the
annual RKAP proposed by the Directors.
2. Evaluating the implementation of investment,
existing investment policies and strategies
along with risk management and giving
recommendation in order to review and
decide new investment policies, strategies and
business risks.
3. Preparing documents, information, material,
analysis and review in relation to investment
implementation and risk management, in order
to minimize and or avoid the Company from cost
overrun and improve efficiency and effectiveness
in toll road and non-toll road investments.
4. Giving feedbacks and review on feasibility and
risks of toll road and non-toll road investment,
in relation to traffic volume projection, land
acquisition, project financing and appropriate
use of technology and innovation as well as value
engineering. 5. Preparing annual work program of
Business Risk and Investment Committee to get
approval from the Board of Commissioners and
creating periodic report to be submitted to and
evaluated by the Board of Commissioners.
6. Carrying out other tasks assigned by the Board
of Commissioners.
7. Reporting to the Board of Commissioners in the
carrying out of the duties of Business Risk and
Investment Committee
BUSINESS RISK AND INvESTMENT COMMITTEEThe Company’s Business Risk and Investment
Committee is decided by the Decision of the Board
of Commissioners No. KEP-00030/I/2012 dated
20 February 2012. Members of Audit Committee
are dismissed in the case of termination of term
of office and termination based on Decision of the
Board of Commissioners, non-compliance with
required performance and/or incompetence in
carrying out the duties.
The Company’s Business Risk and Investment
Committee consists of one (1) Chairman that is
also Committee member and two (2) Committee
members.
The composition of Business Risk and Investment
Committee of the Company is as follows:
Komposisi Komite Investasi dan Risiko Usaha Jasa Marga
Name Job Title
Ibnu Purna Chairman
Eduard T. Pauner Member
Nasikhin Ahsanto Member
All Jasa Marga Business Risk and Investment
Committee Members have integrity, as well as good
competencies and reputation.
Legal Basis on the Forming of Business Risk and Investment CommitteeBusiness Risk and Investment Committee of the
Company was formed based on the following
rules/regulations:
1. Law of the Republic of Indonesia No. 19 of 2003
on State-Owned Enterprises.
2. Law of the Republic of Indonesia No. 40 of 2007
on Limited Liability Company.
3. Decision of the Board of Commissioners of
PT Jasa Marga (Persero) Tbk. No. Kep-OO94/
VIII/2010 on Decision of the Forming of Business
Risk and Investment Committee of PT Jasa
Marga (Persero) Tbk.
265PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Independence of Business Risk and Investment CommitteeBusiness Risk and Investment Committee carries out the duties and responsibilities independently and
professionally in accordance with prevailing rules and regulations. Business Risk and Investment Committee
is chaired by one of the Commissioners and the members are professionals with the background in
accordance with the Company’s field of industry.
The independence of members of Committee for Investment and Business Risk is reflected in the following
table with the following aspects:
Independence of Members of Business Risk and Investment Committee
Aspect of Independence Ibnu Purna Eduard T. Pauner Nasikhin Ahsanto
Not related financially with Board of Commissioners and directors ü ü ü
Not related by management with Jasa Marga, Subsidiaries as well as affiliated companies ü ü ü
Not related by blood with Board of Commissioners, Directors, and/or fellow Committee members ü ü ü
Not related by blood with Board of Commissioners, Directors, and/or feollow Committee Members ü ü ü
Not holding position in the management of political Party, local governments. ü ü ü
Business Risk and Investment Committee MeetingsBusiness Risk and Investment Committee holds
meetings periodically. Business Risk and Investment
Committee meeting (KIRU) may invite the Company’s
Management to provide information required.
The decisions of Business Risk and Investment
Committee meetings are made based on the
principle of deliberation for consensus. In the event
that deliberation for consensus is not reached,
decisions are made through voting. In the event
that the votes that agree and disagree are equal,
the proposal is then declined.
In 2014, Business Risk and Investment Committee
has held meetings such as KIRU internal meeting.
The attendance level of each Business Risk and
Investment Committee Meeting is as follows:
Attendance of Members of Business Risk and Investment Committee at KIRU Meeting in 2014
NameAttendance at Meetings
(times)
Percentage(%)
Ibnu Purna 43 67Eduard T. Pauner 42 66Nasikhin Ahsanto 49 77
The decisions made in Jasa Marga Business Risk
and Investment Committee meetings have been well
recorded and documented in minutes of meeting of
Business Risk and Investment Committee. Minutes
of Meeting is signed by meeting chairman and is
distributed to all members of Business Risk and
Investment Committee both present and absent
in the meeting. Dissenting opinion along with its
reasons during the meeting will be stated in the
Minutes of Meeting
Remuneration of Business Risk and Investment CommitteeMembers of Business Risk and Investment
Committee that are not members of the Board of
Commissioners receive remuneration consisting of
honorarium amounting to Rp 18,400,000 monthly.
Total Remuneration of members of the Business Risk
and Investment Committee who are not members of
Board of Commissioners reached Rp 220,800,000
in 2014.
Achievement of Business Risk and Investment Committee Key Performance Indicators (KPI)In 2014, the key performance indicator (KPI) of
the Investment Committee Business Risk (KIRU)
managed to reach a total score of 90.
The KPI achievement of KIRU is as follows:
266 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Achievement of Business Risk and Investment Committee Key Performance Indicators (KPI) in 2014
No. Perspective Weight Target Realization Score
1. Supervision on implementation of policies, strategy and investment project
40% 4 Monitoring reports and evaluation
4 Monitoring reports and evaluation
40
3 review report Policies and strategies Report on investment implementation
3 review report Report on investment implementation
2. Supervision on Risk management
20% 3 Report on Risk Management
1 Report 12
2 Reports on main Corporate risks and Model to calculate potential loss
2 Reports on top Corporate
3. Supervision on Meeting SPM requirements
20% Report on review of Maintenance system
Maintenance Report 20
Report on review toll Collection system
Laporan pengumpulan tol
4. Performing duties based on Directions of BOC
15% In line with direction of BOC
Fulfilled 15
5. Orderly Administration Report 5% Report of KIRU Quarter 4 2013
Report of KIRU Quarter 4 2013
3
KIRU Report 2013 KIRU Report 2013
Report on KIRU Internal Meeting
Fulfilled
Report on Quarter 1, 2, 3 of 2014
Report on Quarter 1, 2, 3 of 2014
TOTAL 90
REPORT ON IMPLEMENTATION OF TASKS OF BUSINESS RISK AND INvESTMENT COMMITTEEIn line with its duties and functions, the Investment and Business Risk Committee (KIRU) provides support
to the Board of Commissioner in performing oversight role on the Company’s management and giving
advice/counsel in the areas of risk management and investment. In accordance with the duties and
functions, programs and activities can be grouped into 2 (two) parts, namely: (1) Monitoring and Advisory/
Advice in the Field of Risk Management; and (2) Monitoring and providing Advisory/Advice in the Field of
Investment, both investment in the toll road business as well as the non-toll business.
Supervision and Giving Inputs/Advice in the field of Risk ManagementMonitoring and providing inputs/advice in the field of risk management is done, among others, by
conducting a review of the top ten risks that were faced by the Company in 2014; monitoring the
development of the risk management of the Company; as well as analysis and assessment of the risk of toll
road operation of Subsidiary Firms.
Based on the programs and activities, the inputs of the Committee to the Board of Commissioners
in the risk management framework in 2014, were including the risks associated with the medium and
high levels of corporate risk; controlling the implementation of the Risk Management Plan (RPR) of the
Company in 2014; review of corporate risk assessment to determine the Top Ten Risks; and controlling the
achievement of targets and objectives set out in the RKAP 2014, taking into account the implementation
of risk management.
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Supervision and Giving Inputs/Advice on InvestmentSupervision and the formulation of advice on investments were made through the program and activities of
monitoring and evaluation of the implementation of the strategies and investment policies of toll and non-
toll (other businesses); analysis and review of the implementation of toll and non-toll road investments; as
well as review of the Company’s investment plans.
Based on the results of the implementation of programs and activities in the toll investment, the Committee
for Investment and Business Risks provided inputs to the Board of Commissioners. These include advice on
how to strengthen coordination between the Board of Directors and Board of Commissioners of Subsidiaries
of Jasa Marga to address the potential problems that have significant impact fin the achievement of
the Company’s targets; review and refine models of toll road investment feasibility analysis; sharpening
strategies for business expansion and strategic policy concession.
Meanwhile, the inputs from KIRU to the Board of Commissioners for the development of other businesses
(non-toll), include the optimization of TIP (Rest and Service Area), which is based on principles of
transparency, mutual benefits, mutual respect, and justice (fairness). by taking into consideration the
market demand and changes in the business environment to optimize the realization of the potential of
existing business and enhance the contribution of business to increase revenue from TIP; the use of fiber
optic business development; Other business development strategies in the field of property; as well as the
increasing contribution of advertising revenues in other operating revenues.
Business Risk and Investment Committee
Ibnu PurnaChairman
268 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
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Transformation of Jasa Marga
Identity of the Company
Eduard T. PaunerMEMBER
• Joined Jasa Marga Business Risk and Investment Committee on 01 March 2013.
• Completed Bachelor’s Degree in Civil Engineering in 1977 from Bandung Institute of Technology and Master’s Degree in Project Management Engineering in 2002 from University of Indonesia.
• Presently is also Staff of Lectures of Risk Management for Post Graduate Program of Parahyangan Catholics University Bandung and Post Graduate Program of ITS (2012now). Holds license of Certified Risk Management Professional from Risk Management Professional Certification Institution. Previous positions included Director of Infrastructure Network System, Directorate General of Bina Marga, Ministry of Public Works (2003-2005), Member of Risk Committee of PT Hutama Karya (Persero) (20062010), Member of Audit Committee of PT Brantas Abipraya (Persero) (2008-2012), Risk Management Monitoring Committee of
PT Brantas Abipraya (Persero) (2012).
Nasikhin AhsantoMEMBER
• Joined Jasa Marga Business Risk and Investment Committee in 2014.
• Completed Bachelor’s Degree (S1) in Accounting from Gadjah Mada University in 2003.
• Since 2001, has actively participated in various studies and analyses, in many regions in Indonesia, held by different offices, such as BPJT (Badan Pengatur Jalan Tol – Indonesian Toll Road Authority), Ministry of Public Works, Board of Intelligence of Security of the Police Headquarters, Ministry of Transportation, State Ministry for Public Housing, Bank Indonesia (the central bank), several Local Governments, PT Pelindo, Ministry of ESDM (Energi dan Sumber Daya Mineral – Energy and Mineral Resources), etc.
• Age as of 31 December 2014 was 36.
PROFILE OF BUSINESS RISK AND INvESTMENT COMMITTEE
Ibnu PurnaCHAIRMAN
He was appointed Chairman of
Business Risk and Investment
Committee in February 2012. At
present he is also member of
Board of Commissioners of Jasa
Marga. Profile is available in Profile
of Board of Commissioners.
269PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Glossary Consolidated Financial Statements
State Minister for SOEs No. PER-04/MBU/2009
dated 16 November 2009 that was amended
with Regulation No. PER-08/MBU/2010 dated 31
December 2011, and PER-01/MBU/2012 dated 20
January 2012 on Requirements and Procedures
of Appointment and Dismissal of Members of
Directors of State-Owned Enterprises.
The Company prepares its leaders’ successors
though the mechanism of Talent Management
System. By identifying 14 key positions for
executive leaders and 33 positions of Directors
of Subsidiaries, the Company develops the
competencies of future leaders by conducting
Corporate Leadership program.
Together with the Board of Commissioners,
Directors select potential candidates for future
leaders with excellent personal quality along with
sufficient experience and expertise to hold the
positions one level below Directors and Directors at
Subsidiaries. These leaders are expected to be the
next members of the Directors in the future deriving
from the Company’s internal top managers.
Three (3) of the current members of the Directors
of the Company were members of the Directors
in the previous period, whereas two (2) of the
present members of the Directors came from the
Company’s internal structural managers, one level
below Directors.
Profile of Remuneration and Nomination CommitteeAt present, the Company is yet to have
Remuneration and Nomination Committee.
CORPORATE GOvERNANCE COMMITTEECurrently, the Company has not had a Corporate
Governance Committee. However, the Board
of Commissioner is actively monitoring the
implementation of GCG in the Company. In
addition, the Company periodically conducts
assessment by an independent party to ensure
that the implementation of corporate governance
has been done according to the rules.
Profile of Corporate Governance CommitteeAt present, the Company has yet to have
Committee for Corporate Governance.
REMUNERATION AND NOMINATION COMMITTEECurrently the Company has not yet had
Remuneration and Nomination Committee;
however, the Company does have system and
procedures in deciding remuneration to be
implemented at the Company by referring to
prevailing rules and regulations, i.e. Regulation
of State Minister for State-Owned Enterprises
No. PER02/MBU/2009 dated 27 April 2009 on
Guidance on Remuneration of Directors, Board of
Commissioners and Supervisory Board of State-
Owned Enterprises.
Review on remuneration of the Board of
Commissioners and Directors is conducted by
Human Resources Management Bureau and the
result is discussed in the Board of Commissioners
and Directors Joint Meeting to be agreed and
proposed to the GMS.
In order that the Company’s remuneration
system is in line with remuneration system best
practice in the industry, the Company also uses
independent consultant.
In nominating prospective Directors, the Board of
Commissioners proposes to the Shareholder of Series
A Dwiwarna that managers one level below Directors,
based on results of their assessment, performance
and integrity, take fit and proper test held by
Shareholder of Series A Dwiwarna and in accordance
with the Company’s Articles of Association,
Shareholder of Series A Dwiwarna, proposes the
prospective Directors to GMS to get approval.
Meanwhile, to appoint the management
of Subsidiaries, in view of procedures of
appointing members of Directors and Board of
Commissioners of Subsidiaries, the Directors refer
to Regulation of State Minister for SOEs No. PER-
03/MBU/2012 while upholding the foundation
of good corporate governance principles of
professionalism, transparency, independence,
accountability, responsibility and fairness.
Policies in Directors SuccessorsIn order to realize transparent and accountable
process and mechanism of selecting and
changing the members of Directors, the
Company has complied with the requirements
and procedures stipulated in Regulation of
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Corporate SecretaryThe role of Corporate Secretary is significant in ensuring the aspect of disclosure of the Company. In the
Company’s organization structure, Corporate Secretary is accountable directly to the President Director.
Corporate Secretary’s main tasks and responsibilities include corporate communication either internal or
external, investor relations and secretarial activities of the Management of the Company. The existence
of Corporate Secretary is in accordance with Regulation of Financial Service Authority (Otoritas Jasa
Keuangan/OJK) No. IX.I.4 on the Eastablishment of Corporate Secretary of Listed Company or Public
Company, which is basically intended to improve the services delivered to investors of public companies.
ORGANIZATIONAL STRUCTURE OF CORPORATE SECRETARYBased on the Decision of Directors No. 41/KPTS/2013 dated 01 March 2013 on Organization Structure of PT
Jasa Marga (Persero) Tbk., the unit of Corporate Secretary consists of several departments as follows:
1. Corporate Compliance.
2. Investor Relations.
3. Corporate Communication.
4. Corporate Relations.
Organizational Structure of Corporate secretary
Corporate Secretary
Corporate Compliance
Corporate CommunicationInvestor Relations Corporate
Relations
Secretary of the Board of CommissionersThe Board of Commissioners has Secretary of
Board of Commissioners to support the carrying
out of Board of Commissioners’ secretarial
duties. Based on Decision Letter of the Board of
Commissioners No. KEP-00020/I/2012 dated 10
February 2012 on the Filling out of Personnel in the
Organizational Structure of Secretary of the Board
of Commissioners of PT Jasa Marga (Persero) Tbk,
the following matters have been decided:
1. Secretary of the Board of Commissioners is
appointed for the period of five (5) years.
2. Staff in charge of handling Board of
Commissioners’ Meetings.
3. Staff in charge for general affairs of Secretariat
of the Board of Commissioners, Administration
and Filing.
The duties of Secretary of the Board of
Commissioners are to assist the Board of
Commissioners in undertaking its supervisory
function. The detailed functions of Secretary of the
Board of Commissioners among others are as follows:
1. Creating yearly/quarterly program/agenda of
Board of Commissioners’ activities based on the
decisions of Board of Commissioners’ meetings.
2. Creating mechanism for the implementation
of secretarial activities so that Board of
Commissioners’ activities run smoothly.
3. Carrying out administration activities within the
Board of Commissioners.
4. Holding Board of Commissioners’ Meetings and
meetings between Board of Commissioners
and the Shareholders, Directors as well as other
related parties.
5. Providing data/information required by the Board
of Commissioners and Committees under the
Board of Commissioners.
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The main duties of Corporate Secretary include the
following activities:
• Managing information related to business
environment and maintaining the good
relationship between the Company and capital
market supporting institutions and Regulators.
• Ensuring that the Company implements the GCG
principles and complies with prevailing rules
and regulations. Convening General Meetings of
Shareholders of the Company.
• Carrying out communication activities between
the Board of Directors/Management and the
stakeholders in order to improve the Company’s
image.
• Undertaking secretarial activities of the
Company’s management along with facilitating
the relationship between the Company/
Management and the stakeholders.
Implementation of Tasks of Corporate SecretaryThe activities conducted by Corporate Secretary
throughout 2013 among others were as follows:
1. Convened Annual GMS 1 time.
2. Carried out activities in relations to investor
relations:
a. Public Expose 1 time.
b. Site Visit 5 times.
c. Non Deal Roadshow 1 time.
d. Investor Conference 8 times.
3. Carried out activities in relations to corporate
communications:
a. Press Conference 16 times.
b. Press Release 26 times.
c. Media Visit 2 times.
d. Advertorial 13 times.
e. Talk show (television and radio) 9 times.
f. Display advertisement 12 times
4. Carried out activities in relations to stakeholders:
a. Toll Road Customers Gathering.
b. Stakeholder Perception Survey.
c. Communication and coordination with
State Ministry for SOEs, Ministry of Finance,
Bapepam-LK and Local Government.
5. Carried out activities of Directors’ meetings as
well as Board of Commissioners and Directors’
Joint Meetings.
6. Carried out GCG Activities, including:
a. Signing of Integrity Pact
b. Assessment Phase I of SOE Clen by Appraisal
Team from BPKP, in which the Company was
declared as a “Committed” company in the
SOE Clean Program.
c. Management of Whistleblowing System
d. Managing Gratification Control Program in
Cooperation with the Corruption Eradication
Committee
e. Leading Performance Assessment Criteria.
f. Implementation of GCG Assessment
Evaluation based on Asean Scorecard,
which is carried out in cooperation with
the Indonesian Institude for Corporate
Directorship (IICD).
g. Assessemnt of GCG in 2014
h. Socialization of Vision, Mission and Corporate
Values as well as Evaluation on the level of
understanding of VIsision, Mission and values
of the Company.
7. Conducted coordination and Dissemination
of Directors’ policies and corporate internal
activities.
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WorK ExPEriEnCE oF CorPorAtE sECrEtAryBrief work experience of Corporate Secretary, David Wijayanto, at the Company for the past 10 years, as follows:
Brief Work Experience of Corporate secretary
no. Job title Work unit Effective from(dd-mm-yyyy)
1. Corporate Secretary Corporate Secretary 03-09-2012
2. Business Project Manager for Property Development of JORR 2, BORR, Semarang-Solo and Surabaya-Mojokerto
Business Project for Property Development of Jakarta Outer Ring Road, Semarang-Solo and Surabaya-Mojokerto Corridors
03-05-2010
3. Senior Staff for Toll Road Development Toll Road Development Division 15-08-2008
4. Senior Staff for Operation Management Operation Management Division 12-05-2008
5. Cawang-Tomang-Cengkareng Branch Manager
Cawang-Tomang-Cengkareng Branch 29-09-2006
6. Semarang Branch Manager Semarang Branch 30-06-2006
7. Head of Services and Maintenance Department
Padaleunyi-Citarum Branch 04-12-2002
Competency Development and training Programs of Corporate secretary
no. subject organizing institution Date & venue
1. Executive Workshop on Human Capital Transformation & Integration
Jasa Marga Development Center (JMDC)
JMDC, 13 March 2014
2. Seminar on Synergy of SOEs Corporate Secretary: “Maintaining Reputation in the Political Year”
BUMN TRACK Hotel Sari Pan Pacific Jakarta, 16 April 2014
3. SOEs Forum 2014 Sharing Session, Going Global: Redefining the International Business Landscape
Hay Group International The Ritz-Carlton Pacific Place Jakarta, 24 April 2014
4. Workshop on Economic Outlook Post Election Bursa Efek Indonesia (IDX) The Ritz-Carlton Pacific Place Jakarta, 18 August 2014
5. Training on Managament Interview Ministry of SOEs Hotel Santika Bengkulu, 19 September 2014
6. International Seminar on ERM Bali Jasa Marga Development Center (JMDC)
JMDC, 01-02 October 2014
7. Seminar International Bali ERM Center for Risk Management Studies (CRMS)
Grand Nikko, 04-05 December 2014
ProFiLE oF CorPorAtE sECrEtAry
David Wijayatno
• JoinedJasaMargain1988
and was appointed as
Corporate Secretary based
on Decision of the Directors
No. 102/AA.P-6a/2012 on 03
September 2012.
• CompletedBachelor’s
Degree in Civil Engineering
Transportation from Gadjah
Mada University Yogyakarta
in 1986.
• Previouskeypositions
at Jasa Marga included
Project Manager for
Property Development
Business of JORR 2, BORR,
Semarang-Solo & Surabaya-
Mojokerto (2010-2012) and
CawangTomang-Cengkareng
Branch Manager (2006-
2008).
• Ageasof31December2014
was 55.
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Internal Audit UnitThe function of Internal Audit at Jasa Marga is carried out by Internal Audit Unit. In carrying out its
roles, the Internal Audit Unit is always positioned as management’s strategic partner that is trusted, and
works professionally, objectively, and independently. Internal Audit Unit assists the President Director in
conducting internal audit of the Company, i.e. in assessing internal control system, risk management, and
the process of corporate governance while providing suggestions for improvement.
Internal Control System applied by the Company represents an integral process in actions and activities
carried out continuously by Management and the entire employees in order to provide sufficient
assurance in the achievement of organization’s objectives by means of effective and efficient activities,
reliable financial reporting, the Company’s assets security and compliance with rules and regulations.
qUALIFICATION OF INTERNAL AUDIT UNITAs of the end of 2014, the number of personnel of Internal Audit Unit stood at 21 (twenty one) people with 7
of them have qualifications as Qualified Internal Auditor (QIA).
Personnel at Internal Audit Unit
No. Internal Audit Unit Number of People
1. Head of Internal Audit 1
2. AVP Program Planning & Controlling 1
3. AVP Internal Management 1
4. Audit Result Manager 1
5. Program Controlling Manager 1
6. Internal Administration Manager 1
7. Senior Officer Administration, Informatic & Reporting 1
8. Internal Administration Officer 1
9. Senior Auditor 4
10. Auditor Internal 1
11. Assisstant Auditor 2
12. Advisor 2
13. Senior Specialist 2
14. Office Administration Section 2
TOTAL 21
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STRUCTURE AND POSITION OF INTERNAL AUDIT UNITAs regulated in Regulation of Bapepam, Internal Audit is an independent unit to other units and is directly
accountable to President Director.
The organization of Internal Audit is decided based on Decision of the Directors No. 41/KPTS/2013 on
Organization Structure of PT Jasa Marga (Persero) Tbk.
Review decision on remuneration
GROUP OF AUDITORS PROGRAM PLANING AND AND CONTROLLING DEPARTMENT
PROGRAM CONTROLLING SECTION
INTERNAL ADMINISTRATION SECTION
AUDIT RESULTS SECTION
INTERNAL MANAGEMENT DEPARTMENT
APPOINTMENT AND DISMISSAL OF INTERNAL AUDITInternal Audit is led by Head of Internal Audit
appointed and dismissed by President Director with
approval from Board of Commissioners. Head of
Internal Audit is assisted by AVP Program Planning
& Controlling.
COMPETENCY DEvELOPMENT OF INTERNAL AUDIT HUMAN RESOURCES AND CERTIFICATION OF AUDIT PROFESSIONThe Company continuously improves competencies
of Internal Audit personnel by conducting auditors’
competency development program systematically
and gradually. In general, the policy of competency
development in 2013 was implemented in two ways
as follows:
1. Competency development at external institutions
2. Competency development internally.
Competency development by external institutions
was carried out through formal trainings in form
of courses or seminar/workshop in relation to
the issues of audit, both those undertaken by the
Company or other external education institutions.
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Audit Trainings in 2014
No. Name of Training Organizing Institution Number of Participants
1. Champion Training utilization of Appication of Audit Management System (AMS) “TeamMate”
PT Centria Integrity Advisory 4
2. End User Training Penggunaan Aplikasi Audit Management System (AMS) “TeamMate”
PT Centria Integrity Advisory 14
3. Training Program for Qualified Internal Audit Qualification, Primary Level II
Yayasan Pendidikan Internal Audit (YPIA) 1
4. Training Program for Qualified Internal Audit Qualification – Phase II
Yayasan Pendidikan Internal Audit (YPIA) 1
5. National Seminar on Internal Audit (SNA) Yayasan Pendidikan Internal Audit (YPIA) 8
6. Half Fay Seminar COSO 2013 Ikatan Komite Audit Indonesia (IKAI) 2
7. Training Program for Certification of Qualified Internal Audit Advance Level I
Yayasan Pendidikan Internal Audit (YPIA) 2
8. Training Program for Certification of Qualified Internal Audit Managerial Level
Yayasan Pendidikan Internal Audit (YPIA) 1
9. Workshop Metodology, Investigation Technique and Uncover Fraud cases
Lembaga Pengembangan Fraud Auditing 2
10. Processes and Techniques of Internal Audit Yayasan Pendidikan Internal Audit (YPIA) 4
11. Seminar of Internal Control Communication Forum (FKSPI) 2014
Forum Komunikasi Satuan Pengawasan Intern (FKSPI)
5
12. Training on Control System of the Company’s Internal Control Company Class V
Jasa Marga Development Center 2
13. Panel Forum “Harmonization of the Role of SPI and Audit Committee to guard performance of the company in a sustainable and prudential ways
Forum Komunikasi Satuan Pengawasan Intern (FKSPI)
2
14. Effectiveness of oversight mechanism of Board of Commissioner and the role of Audit Committee in detecting Fraud in the financial reports “Purpose and aspect of Accountancies, audit, GCG and law”.
Ikatan Komite Audit Indonesia (IKAI) 2
15. One-Day Seminar of FKSPI “Improving Internal Audit capability by using Risk & Control”
Forum Komunikasi Satuan Pengawasan Intern (FKSPI)
13
WORK GUIDELINES FOR INTERNAL AUDIT UNITIn conducting its duties, Internal Audit Unit refers
to Internal Audit Charter and Audit Internal Manual
along with Annual Audit Work Program (Program
Kerja Audit Tahunan – PKAT), while using the
approach of Risk-Based Audit Planning.
Internal Audit Charter and Internal Audit Manual
are decided based on Decision of the Directors No.
59/KPTS/2013 dated 28 March 2013. Apart from
serving as work guidelines, Internal Audit Charter
and Internal Audit Manual also plays an important
role in enforcing the role and responsibilities as
well as basis of existence and implementation
of supervisory duties of Internal Audit. The
Internal Audit Charter and Internal Audit Manual
are therefore disclosed to be recognized by all
employees and other related parties so that there is
mutual understanding and cooperation in realizing
the Vision, Mission and Objectives of the Company.
The Company has Internal Audit Charter and Internal
Audit Manual since 01 March 2003 and on 28 May
2009 and 28 March 2013, they were revised in
accordance with prevailing regulations of Bapepam-
LK. Internal Audit Charter is reviewed and improved
periodically in line with the changes in prevailing
rules and regulations.
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In general, Internal Audit Charter and Internal Audit
Manual contains:
1. Definition of Internal Audit.
2. Structure and Position of Internal Auditing Unit.
3. Duties and Responsibilities of Internal Auditing
Unit.
4. Authorities of Internal Auditing Unit.
5. Code of Ethics for Auditors of Internal Auditing
Unit.
6. Requirements for Auditors of Internal Auditing
Unit.
7. Accountability of Internal Auditing Unit.
8. Prohibition to Hold Dual Positions.
CODE OF ETHICS FOR INTERNAL AUDITORSIn carrying out its functions and tasks, apart from
complying with the Company’s prevailing Code of
Conduct in general, Internal Audit also has Code of
Ethics for Auditors, which is stated in Internal Audit
Charter, and consists of among others:
1. Internal auditors are required to have integrity,
objectivity, and seriousness in carrying out the
duties and fulfilling the responsibilities of their
profession.
2. Internal auditors are required to show loyalty to
their organization or the parties they serve.
3. Internal auditors are required not to be
consciously involved in actions or activities that
may discredit the profession of internal audit or
their organization.
4. Internal auditors are required to control
themselves from activities that may cause
conflicting interest with their organization; or
activities that may cause prejudice that doubts
their capability to carry out the duties and
fulfilling the responsibilities of their profession
objectively.
5. Internal auditors are not allowed to take
compensation in any forms from employees,
clients, customers, suppliers and business
partners of their organization as it may influence
their professional judgments.
6. Internal auditors only conduct services that
are able to complete using the professional
competencies they own.
7. Internal auditors are required to make every
effort so that they always fulfill Internal Audit
Professional Standard.
8. Internal auditors are required to be prudent
and wise in using information obtained in the
implementation of their duties.
9. Unless required by provisions of rules and
regulations, articles of association and/or
regulations of the Company, Internal Auditors
are required not to disclose information obtained
during the carrying out of their duties.
10. In carrying out the duties, Internal Auditors are
required to disclose all significant facts they
know.
11. Internal auditors are required to continuously
advance their expertise and effectiveness as well
as quality in the carrying out of their duties.
Tasks and Responsibilities of Internal Audit Unit
The role of Internal Audit is to make sure of and
provide independent and objective consulting for
the Management in order to boost the creation
of added value and improve Jasa Marga’ business
operation.
Referring to the Audit Charter, the tasks and
responsibilities of Internal Auditing Unit are as
follows:
1. Planning and carrying out Annual Audit Work
Program.
2. Testing and evaluating the implementation of
internal control and risk management system in
accordance with the Company’s policy.
3. Conducting audit and assessment on efficiency
and effectiveness in the area of finance,
accounting, operation, human resources,
information technology and other activities.
4. Providing corrective advice and objective
information to all level of management
concerning all audited activities.
5. Making report on audit results and submitting the
said report to President Director and the Board
of Commissioners.
6. Designing program to evaluate the quality of
internal audit activities conducted.
7. Conducting special audit whenever necessary.
8. Conducting Internal Audit Management at
Subsidiaries as special assignment from
President Director, in order to provide guidance,
supervision, learning and counseling in preparing
and implementing Internal Audit at Subsidiaries.
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IMPLEMENTATION OF ACTIvITIES OF INTERNAL AUDIT UNIT IN 2014Routine/ operational Audit In accordance with the Annual Audit Work Program (PKAT) 2014
set by the President Director, in 2014 Internal Audit has carried out inspection on 13 Audit Object.
The audit carried out at Head Office Unit, Branch Office and Project Development/Improvement of Toll Road. Monitoring the follow-up of Audit Recommendation carried out through regular monitoring mechanisms in each Quarter
Special Audit/special-purpose audit Implementation of the Special Audit/Audit with Specific Purpose done by PKAT and the request from management to audit/review of specific issues as deemed necessary by management to be evaluated.
In 2014, Internal Audit has conducted two audits with a Specific Purpose namely Audit on Procurement of Goods/Services.
Audit at Subsidiaries Audit in subsidiaries conducted at the request of the Subsidiary which had previously been set out in the Decision of the General Meeting of Shareholders of the Subsidiary. Audit for the Subsidiary done by establishing the Joint Audit Team among shareholders
AUDIT RESULTS OF INTERNAL AUDIT UNITAudit is carried out to evaluate the effectiveness
of the Company’s Internal Control System, Risk
Management, and the process of Corporate
Governance as well as to assess the efficiency and
effectiveness of the entire activities of the Company
(in the fields of finance, operation, human resources,
information technology along with other activities).
Report on results of audit carried out by Internal
Audit is submitted to President Director and
recommendations from audit results are considered
and referred to in implementing the follow ups.
Simultaneously, report of audit results is also
submitted to Audit Committee.
OTHER AUDIT SUPPORTING ACTIvITIESIn addition to its routine activities, Internal Audit has
improved the audit management by using computer
application (Audit Management System/AMS). All
audit activities starting from PKAT, Scheduling/
Assigning Audit Team, Implementation of field work,
Audit Reporting and Monitoring of Audit Results
Follow ups are managed by AMS.
INTERNAL AUDIT UNIT PERFORMANCE EvALUATIONThe performance of Internal Audit is measured and
assessed from the achievement of Key Performance
Indicators (KPI). There are 13 indicators that are
measured and assessed yearly and are the form of
management contract between the Head of Internal
Audit and the Directors. Major indicators in KPI are
as follows:
• Efficiency of audit cost
• Audit request from the Management
• Timeliness of final report issuance
• Implementation of followed up recommendations
• Timeliness of completion of Risk-Base Internal
Audit Planning
• Implementation of audit plan
• Achievement of work programs
In order to make sure that the recommendations are
followed up, the Company has regulated a control
mechanism through Instruction of the Directors
on Auditees’ Obligation to report the follow up of
recommendations of Internal Audit Unit at the end
of every quarter to the President Director.
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Internal Control System of the CompanyThe implementation of internal control system
carried out by Jasa Marga refers to Article 26
of the Regulation of the State Minister of State-
Owned Enterprises No. PER-01/MBU/2011 on Good
Corporate Governance Implementation at State-
Owned Enterprises.
Through Decision of Directors No. 96/KPTS/2011
on Code of Corporate Governance, Directors
then decide Internal Control System by adopting
the concept of Internal Control from COSO
(Committee of Sponsoring Organization of
Treadway Commission).
The framework of integrated internal control
according to COSO has three (3) categories of
objectives and five (5) components of Internal
Control.
The three categorized objectives are as follows:
operational objective
This relates to the effectiveness and efficiency of the Company’s operational activities, including operational and financial performances as well as the security of the Company’s assets.
Reporting objective This relates to the reliability of the Company’s financial reporting, including internal and external reports, both financial and non-financial reports.
Compliance objective
This relates to compliance to prevailing rules and regulations.
The five components required for effective Internal
Control System are as follows:
1. Control Environment
2. Risk Assessment
3. Control Activities
4. Information and Communication
5. Internal Control Monitoring
SOCIALIZATION OF CORPORATE INTERNAL CONTROL SYSTEM (SPIP) FRAMEWORKIn line with the framework of Internal Control owned by the Company, i.e. Corporate Internal Control
System (Sistem Pengendalian Internal Perusahaan – SPIP), Internal Audit Unit also continues to socialize
the principles of COSObased Internal Control To all working units at the Company for all levels of position
through the programs of training and workshop carried out in cooperation with Jasa Marga Development
Centre (JMDC).
The objectives of socialization of SPIP and the future plans among others are as follows:
• Mutual understanding on the objectives and components in Corporate Internal Control System (SPIP).
• The Company is capable of further ensuring that SPIP is understood and implemented by all Jasa Marga
Individuals.
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Socialization of Corporate Internal Control System (SPIP) in 2014
No. Date (mm-dd-yyyy) venue Class of Participants Number of Participants
1. 17-03-2014 Head Office VI-VIII 44
2. 19-03-2014 Head Office VI-VIII 43
3. 07-04-2014 Head Office VI-VIII 50
4. 21-04-2014 Head Office VI-VIII 50
5. 13-05-2014 Belmera Branch VI-VIII 30
6. 20-05-2014 Semarang Branch VI-VIII 30
7. 20-05-2014 Surabaya-Gempol Branch VI-VIII 30
8. 25-08-2014 Head Office VI-VIII 49
9. 25-08-2014 Surabaya-Gempol Branch VI-VIII 30
10. 27-08-2014 Head Office VI-VIII 42
11. 27-08-2014 Belmera Branch VI-VIII 30
12. 27-08-2014 Purbaleunyi Branch VI-VIII 30
13. 04-09-2014 Head Office VI-VIII 30
14. 15-09-2014 Purbaleunyi Branch VI-VIII 30
15. 16-09-2014 Surabaya-Gempol Branch VI-VIII 30
16. 16-09-2014 Head Office VI-VIII 42
17. 23-09-2014 Head Office VI-VIII 50
18. 06-10-2014 Head Office V 60
19. 07-10-2014 Head Office IV 40
20. 08-10-2014 Head Office VI-VIII 47
21. 13-10-2014 Head Office III 40
REvIEW ON EFFECTIvENESS OF CORPORATE INTERNAL CONTROL SYSTEM (SPIP)Reports on Audit Results that are categorized based on the objectives and components in SPIP (COSO
framework), are then analyzed annually in order to make improvement on components requiring it. The
Audit Results Analysis is also carried out to measure the effectiveness of the achievement of SPIP targets
(the Company’s operation, accuracy/reliability of the Company’s reports, and compliance with prevailing
rules and regulations).
PROFILE OF HEAD OF INTERNAL AUDIT
Agus Purnomo
• Joined Jasa Marga in 1988 and
was appointed Head of Internal
Audit on 02 February 2015 based
on the Decision of Directors
No.008/AA.P-6a/2015 dated 02
February 2015.
• Clompleted Bachelor’s Degree
in Civil Engineering from 10
November Institute of Technology
Surabaya in 1987. Previous key
positions at Jasa Marga included
GM Cawang-Tomang-Cengkareng
(2014) and Surabaya-Gempol
Branch Manager (2008-2014).
• Age as of 31 December 2014
was 51.
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Risk Management ReportWith a vision to become a developer and leading
toll road operator in Indonesia, Jasa Marga adopts
modern technology and management systems
to continuously improve the competitiveness of
the Company. One important element in modern
management is the management of risks.
In carrying out its business activities, the Company
realizes that risks are inseparable from each of its
operational activities and may influence business
results and performance of the Company. Given the
toll road business requires large investment with
long-term returns and has high uncertainty during
construction and operation, the application of risk
management is becoming increasingly important for
Jasa Marga in running its business.
Risk Management is carried out by means of
systematic, structured and integrated approach to
anticipate uncertainty or possible loss in the running
of the Company and it consists of three (3) main
fields, i.e. the development of toll road, the operation
of toll road and the development of other businesses
(non-toll road) as well as the supporting 4 fields
(finance, human resources, and IT) and other fields,
in accordance with the fields of RJPP (Corporate
Long-Term Plan) 2013-2017
DEvELOMENT OF JASA MARGA RISK MANAGEMENTSince 2007, Jasa Marga started the implementation
of Risk Management system with the basis of AS/
NZS 4360:1999 standard, which was decided by
Decision of the Directors No. 139/KPTS/2007 on
Risk Management Manual. With the issuance of
ISO 31000:2009 on 31 October 2009, Jasa Marga
conducted management review to amend the
guidelines on implementation of risk management
with the new standard of Enterprise Risk
Management (ERM) orientation by the issuance of
Jasa Marga Directors Decision No. 129.2/KPTS/2010
on Risk Management Policy and Manual of Risk
Management in PT Jasa Marga (Persero) Tbk.
Jasa Marga’s journey in implementing Risk
Management is shown in the following Roadmap of
Jasa Marga Risk Management System Development.
This Roadmap is updated every year to adjust
with the latest development as well as internal and
external policies of the Company.
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RiSK CUlTUREiMPlEMEnTATion & MoniToRinG
inTEGRATion wiTH oTHER PRoCESSES
Result of Risk Maturity level
All strategic decisions consider
risk analysis result
The Company is prevented from the
Risk of loss
11 Principles
of iSo 31000 : 2000
20172015-2016
2013-2014RJPP Targets
1. Review and development of risk management system
2. Integrated Risk Management:• RJPP• RKAP• Other
strategic decisions
• Corporate Performance Report
3. Forming of risk-awareness behavior
4. Measurement of Risk Maturity
1. Socialization and Workshop on Risk Management
2. Training on Risk Management for BOD/BOC
3. RPR RKAP 2015 and Report on online Risk Mitigation 2014
4. Draft of Guidelines on Risk Management-Based Strategic Planning (RJPP/RKAP)
5. Integration of Risk Management Targets with KPI
6. Measurement of Risk Maturity
7. Trial of Integrated Corporate Report with Risk Management
1. Socialization and Workshop on Risk Management
2. Training on Risk Management for VP/GM and EPRP Team
3. Integrated Risk Management in Strategic Planning (RJPP/RKAP)
4. Risk-Based Audit5. Development of Risk
Maturity Model6. Implementation
Design of Systematic and Structured Risk Management Database System using online application
7. Design of Integrated Corporate Risk Profile Perusahaan
8. Risk Appetite and Tolerance
9. Monitoring of Risk Mitigation and Evaluation on Risk Incidents
2007-2017 Roadmap
Process of Transformation Management
GAP
RISK MANAGEMENT POLICIESThe Board of Directors set a Risk Management
Policy as a benchmark in achieving the Company’s
Long-Term Goals and Risk Management Manual
as an embodiment of commitment to the
implementation of risk management throughout
the entire organization and integratedly, in order to
support certainty and provide a framework for risk
management in a systematic and measured way in
accordance with the international requirements.
Risk Management Policy and Risk Management
Manual in the Company adopts the ISO 31000:
2009 as reference which is contained in the
Decision of the Board of Directors of Jasa Marga
No. 129.2/KPTS/2010 on Risk Management Policy
and Risk Management Manual in PT Jasa Marga
(Persero) Tbk.
In addition to ISO 31000: 2009, the Company’s
risk management also refers to the Regulation of
the State Minister of State-Owned Enterprises No.
PER-01/MBU/2011 on the Implementation of Good
Corporate Governance (GCG) in State Owned
Enterprises, which has been revised by Minister of
State Owned Enterprises No. PER-09/MBU/2012
on the amendment to the Regulation of the State
Minister for State-Owned Enterprises No. PER-01/
MBU/2011 on the Implementation of Good Corporate
Governance (GCG) in State Owned Enterprises.
The signing of risk management policy by
all Directors shows Directors’ commitment,
seriousness and awareness of the importance of risk
management in the Company’s sustainability and
target achievement.
282 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Highlights 2014Profile of the Company
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Transformation of Jasa Marga
Identity of the Company
RISK MANAGEMENT POLICY
As toll road company with the vision of becoming a modern company in toll road development and operation, PT Jasa Marga (Persero) Tbk. realizes that in achieving the said vision bears the risks caused by uncertainty in achieving business targets of the Company due to the long return of the investment and changes in both internal as well as external environment, along with other risks in relation to toll road operation and management of the Company.
To control the risk of uncertainty in achieving the Company’s business targets and to minimize potential risks in obtaining business opportunity, the Company then sets a risk management policy.
In view of the above, the Company has decided the Risk Policy as follows:1. In order to implement risk policy, the Company has implemented the principles of Good Corporate
Governance, i.e. Transparency, Accountability, Responsibility, Independency and Fairness.2. Risks need to be understood as all occurences that may happen in the business process of the Company
during its achievement of its business process.3. All risks of the Company must be managed in the best possible way by making use of the Company’s
resources so that they stay within the range of the Company’s Risk Tolerance.4. The Directors, all Employees and Business Partners of the Company have roles in risk management in
accordance with their respective responsibilities.5. Risk management system is to be perfected continuously based on the most recent condition and all
employees are to be encouraged to always develop and nurture the culture of risk awareness in order to preserve the values of the Company and stakeholders’ trust.
The Directors of PT Jasa Marga (Persero) Tbk. are responsible for ensuring that the Risk Policy is socialized and implemented, and its effectiveness is reviewed periodically.
Jakarta, 22 July 2010DIRECTORS OF PT JASA MARGA (PERSERO) Tbk
Finance Director
Ir. Reynaldi Hermansjah
Operation Director
Ir. Adityawarman
President Director
Ir. Frans S. Sunito
Business Development Director
Ir. Abdul Hadi HS., MM
Human Resources Director
Ir. Firmansjah, CES
The signing of risk management policies by all Directors shows Directors’ commitment, seriousness and awareness of the importance of risk management in the Company’s sustainability and target achievement.
The objectives of implementing Risk Management at Jasa
Marga are as follows:
1. Improving awareness of the existence of impact from
business activities and actions as well as influence of
external factors containing risks.
2. Reducing the frequency of potential hazardous incidents.
3. Minimizing potential loss as an impact caused by such
incidents.
RISK MANAGEMENT GOvERNANCE STRUCTUREThe Company realizes that risk management is required to be
implemented at all levels. The structure of risk management
governance is therefore created, to enable everybody’s role
in developing, managing and ensuring the implementation of
risk management.
283PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Risk Management Governance at Jasa Marga is as follows:
1. Board of Commissioners.
2. Directors.
3. Business Risk and Investment Committee.
4. Risk Management Committee, chaired by Finance Director.
5. Risk & Quality Management as facilitator.
6. Corporate Risk Management Evaluation (EPRP – Evaluasi Pengelolaan Risiko Perusahaan) Team.
7. Risk Owner (Heads of Bureau/Division/Branch/Unit).
8. Risk Officer (the facilitators in conducting assessment).
9. Risk Assessor (the person conducting assessment at each working unit).
Apabila dilihat dalam suatu Struktur Tata Kelola Manajemen Risiko di Jasa Marga dapat digambarkan
sebagai berikut:
Structure of Risk Management Governance at Jasa Marga
INTERNAL AUDIT
PROjECTS
Risk Officer
Risk Assessor
BRANCHES
Risk Officer
Risk Assessor
SUBSIDIARIES
Risk Officer
Risk Assessor
DIvISIONS
DIRECTORSRISk
MANAGEMENT COMMITTEE
BOARD OF COMMISSIONERS
BUSINESS RISk AND INvESTMENT
COMMITTEE
Risk Officer
Risk Assessor
RISk & QUALITy MANAGEMENT
DIvISION
Risk Officer
Risk Assessor
EPRPTEAM
CORPORATE SECRETARy
flow of communication (Risk Management System)
flow of command (based on organizational structure)
BUSINESS RISK AND INVESTMENT COMMITTEE:
chaired by Commissioner with professional members. *)
RISK MANAGEMENT COMMITTEE: chaired by Finance Director with VP Risk and Quality Management
as secretary; the members are VP Corporate Planning, VP Toll Road Business Development, VP Related
Businesses Development, VP Operation Management, and VP Finance and Accounting. **)
* Profile of Chairman and members of KIRU is available at Business Risk and Investment Committee
** Profile of Chairman and members of Risk Management Committee (KMR) is available at Profile of
Directors and Senior Officials
284 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
The Framework of Risk Management at Jasa Marga is the development of the Risk Management principles
providing the basis and organization management and encompassing the entire activities in all levels at the
Company. The scheme of Risk Management Framework at Jasa Marga is shown as follows:
Skema Kerangka Kerja Manajemen Risiko Jasa Marga
Continuous improvement
Risk Management Preparation
Mandate & Commitment
Monitoring and Review
Planning of Risk Management Framework:
1. Understanding organization and its context.
2. Risk Management Policies.3. integration with the Company’s
business processes.4. Risk Bearer.5. Resources.
6. Creation of Reporting and Communication Mechanism.
The Risk Management Framework encourages the carrying out of effective Risk Management by
implementing Risk Management process at various levels of the organization and in specific contexts of the
Company. Risk Management Framework is basically a management system with system structure that forms
PDCA (Plan, Do, Check, Action) cycle, in order to ease the integration of Risk Management system with
other management systems of the Company.
To support the effectiveness of Risk Management implementation, Jasa Marga has created several
procedures among others as follows:
a) Procedure for Risk Management (PK/PR/01-BMMR).
b) Procedure for Creating RPR (PPR PK/PR/02-BMMR).
c) Procedure for Monitoring Risk Mitigation Implementation (PK/PR/03-BMMR).
d) Procedure for Creating the Company’s Risk Profile (PK/PR/04-BMMR).
e) Procedure for Documenting and Reporting (PK/PR/05-BMMR).
f) Procedure for Evaluating Risk Event (PK/PR/06-BMMR).
g) Procedure for Risks Listing (PK/PR/07-BMMR)
285PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
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Glossary Consolidated Financial Statements
THE COMPANY’S RISKS AND MANAGING THEMIn line with the commitment of Jasa Marga
Directors to implementing effective and efficient
risk management, each level of the organization,
both corporate and business unit, are then required
to implement risk management by considering
priority and benefit of each work program/ project
for the Company’s sustainability. In 2014, there has
been changing in the risk management mechanism,
both on the level of risks and identification of
risks. The hope is that the changes will make the
management of the Company’s risks become more
effective and will bring positive impact on the
sustainability of the Company’s business.
In contrast to previous years, in 2014 the Company
divides the risks into four (4) levels: extreme,
high, moderate, and low. The Company’s risk
management is carried out in accordance with the
results of the review the Company’s Long Term
Plan (RJPP) 2013-2017, which is divided into a top
ten risk.
Top Ten RisksTop Ten Risks are ten highest risks as a result of
consolidation risks with the highest level of risks
status are filtered based on corporate acceptance
criteria of each work units, namely Head Office,
Subsidiary of Toll Road Company, a Subsidiary
Other Businesses and Branch Offices.
The followings are the Company’s top ten risks that
have been identified and have been prepared based
on the weight of each risk:
Description of Risks and Risk Mitigation
No. Deskripsi Risiko Tindak Lindung
1. Delay of Capex absorption by Jasa Marga’s Toll Road Subsidiaries.
Coordinating with the Finance & Accounting Division in undertaking refinancing through financial instruments (such as: bonds) with lower interest rates when Subsidiaries has recorded profits.
2. Completon of construction is behind schedule (land acquisition problems).
Coordinating and encouraging related agencies to accelerate toll road development.
3. Land price is yet to be agreed with the land owner
1. Coordinating with TPT/P2T and related parties.2. Increasing intensity in approaching the land owners
4. Damages in expantion Joint Repairing Expantion Joint with Rubber Hump Seal (combined with asphaltic plug on certain locations).
5. Damage in the structure of Ciliwung bridge, and Cengkareng Drain.
Bridge Strengthening.
6. Damages in pavement at toll gates. Repairing the pavement at toll gates.
7. Not meeting the SPM requirement (Indicator of toll road condition).
1. Conducting Toll Road periodic maintenance.2. Repairing works at Simpang Susun.3. Repairing works at Bearing Pad of the Bridge.4. Patching and Surface Dressing of Toll Road.
8. Emergency situations disrupt operational activities.
Handling landslide at toll road.
9. Performance of Toll Road equipments is not as expected
1. Maintaining the Contract for Toll Road and Software of Toll Road Equipments.
2. Installing CCTV for transaction monitoring at toll gates.
10. Landslide at slopes due to land movement
Building Bore Pile to prevent landslide.
286 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
In addition to the top ten most risks that are affecting the Company’s future performance, the Company
also identified risks in each Directorate. Hopefully, by the identification of risks per directorate, the relevant
Directors can focus more on addressing the risks in the related fields.
Following are the details of the identification of risk by directorate:
A. Risks in Development Aspect Having carried out risk identification based on targets of RKAP 2014 in the field of Development,
several risks potentially impeding target achievement were identified. The identified risks requiring
attention among others were:
The Company’s Risk Profile in 2014 in Development Aspect
No. Risk Risk Mitigation
1. Completion of land acquisition is behind schedule.
Coordinating with and encouraging related parties to speed up toll road development.
2. Completion of construction is behind schedule. 1. Coordinating with TPT/P2T and related agencies
2. Increasing intensity to approach land owners.3. Coordinating and encouraging related
institutions in order to speed up toll road development
3. Delay in getting permit to develop business Coordinating with related agencies to get permit.
B. Risks in Operational AspectHaving carried out risk identification based on targets of RKAP 2014 in the field of Operational, several
risks potentially impeding target achievement were identified. The identified risks requiring attention
among others were:
The Company’s Risk Profile in 2014 in Operational Aspect
No. Risk Risk Mitigation
1. Performance of equipment for controlling toll revenues is not optimum.
1. Installing Optical Sensor Beam (OBS) at toll booths.2. Implementing Electronic Entrance Ticket (Kartu Tanda
Masuk Elektronik – KTME).
2. Minimum level of service is not fulfilled. 1. Toll road periodic maintenance.2. Toll road patching and surface dressing.
3. Emergency situations disrupting operational activities.
1. Strengthening slope using bored pile.2. Using retaining wall for areas with not too high
embankment, and using bored pile for fault areas.3. Conducting observation periodically using supporting
equipment of slope instruments (Inclinometer, displacement pegs, etc.).
4. Toll road congestion (V/C Ratio <0.8) Providing additional lanes.
5. Toll tariff increase is delayed. 1. Complying with minimum level of services prior to audit by BPJT.
2. Using independent consultant to assess the sufficiency of SPM fulfillment prior to assessment by BPJT.
287PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Human Capital Management
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Glossary Consolidated Financial Statements
C. Risks in Financial AspectHaving carried out risk identification based on targets of RKAP 2014 in the field of Finance, several risks
potentially impeding target achievement were identified. The identified risks requiring attention among
others were:
The Company’s Risk Profile in 2014 in Financial Aspect
No. Risk Risk Mitigation
1. Lack of cash for operational activities.
1. Monitoring the process of automatic transfer of Daily Toll Collection (Hasil Pengumpulan Tol Harian – HPT) every day from Branches’ account to Head Office’s account.
2. Monitoring policies on implementing the Operational Fund Usage (Penggunaan Dana Operasi – PDO) of Branches and limiting time for payment of transaction to maximum 14 working days since complete and correct document of payment is received.
3. Controlling payment of Other Work Fund (Dana Kerja Lain – DKL) of Branches by limiting to maximum two (2) before due date.
2. Delay in availability of investment fund.
1. Having Credit Agreement (Standby Loan) with bank in sufficient plafond that can be withdrawn at any time.
2. Coordinating with related unit regarding payment schedule and investment fund requirement plan.
3. Loss of principal of fund placement of time deposit savings.
1. Analyzing bank’s level of health.2. Placing fund based on continuous analysis of Legal
Lending Limit and Portfolio Placement Limit.
D. Risks in HR and Other AspectsHaving carried out risk identification based on targets of RKAP 2014 in the field of HR and Others,
several risks potentially impeding target achievement were identified. The identified risks requiring
attention among others were:
The Company’s Risk Profile in 2014 in HR and Other Aspects
No. Risiko Tindak Lindung
1. Number of employees exceed ratio target. 1. Proposing and creating interesting compensation scheme for early retirement.
2. Evaluating work load and work pattern.
2. Unfulfillment of formation needs and job competencies, i.e. HR needs especially structural positions are not yet fulfilled.
1. Assessing employees periodically and comprehensively.
2. Creating career management system.
3. Insufficient improvement of business process, reorganization and employee recruitment
1. Reviewing recruitment system.2. Creating integrated employee development system.3. Setting up and implementing individual carrier path.4. Mapping employees’ competencies.
4. Employees are not satisified with changing in remuneration, implementation of system is not as expected in terms of schedule and quality.
1. Setting up remuneration system policy.2. Socializing new remuneration system to all
employees3. Adjusting ERP with new remuneration system.
5. Implementation of IT in the Company is not well-organized and is not integrated.
1. Approving Decision Letter on IT Governance.2. Socializing IT Governance procedure.3. Previewing IT masterplan 2014-2018.4. Socializing IT master plan.
288 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
IMPLEMENTATION OF RISK MANAGEMENT WORK PROGRAMS IN 2014In accordance with the risk management framework,
in the 2014 the work program applies the concept of
risk management of Plan, Do, Check, Action (PDCA).
1. Risk Management Integration with the Entire Business Process of the Company.a. Creating Risk Management-Based RKAP
2015.This is a yearly program in line with the
procedure for creating Risk Management
Plan (Rencana Pengelolaan Risiko –
RPR) and Changes in Risk Management
(Perubahan Pengelolaan Risiko – PPR)
No. PK/PR/02-BMMR. In creating risk
management-based RKAP 2015, the
following stages were carried out:
i. Conducting socialization and workshop
on creating Risk Register of RKAP
2015.
ii. Creating Risk Management Plan of
RKAP 2015.
iii. Providing recommendation on the
decision of RKAP 2015.
iv. Creating Risk Profile of RKAP 2015.
In creating risk management-based
RKAP 2015, it was compulsory for the
Subsidiaries to create and report Risk
Management Plan. This was to ensure that
the risks of business operational activities
in 2014 were identified and that the risk
mitigation plans were created.
b. Review of Risk Appetite and Risk Tolerance.The Company prepared the Risk Appetite
and Risk Tolerance as a benchmark in
the achievement of corporate goals. In
connection with the review of RJPP 2013-
2017, it is necessary to review the Risk
Appetite and Risk Tolerance of the RJPP
2013-2014.
c. Preparation of Top Ten Risk 2015.The Top Risk Preparation Program 2015
is a program to consolidate risks that are
considered to have a status of high risks
level in each work units and filtered based
on corporate acceptance criteria.
Method of preparation:
i. The top Ten Risks that have qualitative
implication risks were selected from
each Toll Road Subsidiary, Subsidiaries
of Other Businesses, Branch Offices,
and Work Units of the Head Office
through the following steps:
a) Top Risk with qualitative impact
are selected based on inherent risk
status as -- “Extreme” and “High”
and has Inherent Risk Score of ≥ 10
(ten).
b) Selecting Top Risks based on
their effect on the achievement
of strategic objectives, corporate
reputation, and compliance.
ii. Consolidate Top Risks that have the
quantitative and qualitative impacts
for Top Risk 2015 of PT Jasa Marga
(Persero) Tbk. The process of
preparation of this risk profile was in
accordance with the Procedure for
Corporate Risk Profile Preparation
Number PK/PR/04-BMMR.
d. Risk Management Reports.Management reports are a requirement
and addition of the report of the
Company’s Report, as well as material for
Internal Risk Base Audit.
The risk management plan that has
been established in the Risk Profile of
the Company and its Subsidiaries in
2014, hereinafter was in accordance
with the procedures of monitoring the
implementation of Risk Mitigation No. PK/
PR/ 03-BMMR then each unit of the work/
business must carry out risk mitigation
and monitoring of the implementation
of the risk mitigation actions and the
condition of risk status. These steps are
done in hope that the risks identified
in the Company’s risk profile can be
monitored and minimized.
289PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
i. Risk mitigation implementation.
1) Work/business unit carried out
risk mitigation of RPR and PPR
of RJP, RKAP and KPI approved
by the Directors.
2) If there were some changes
in RJP/RKAP programs, each
work/business unit is then
required to reassess and create
Changes in Risk Management.
ii. Risk Management Monitoring.
Monitoring included:
1) Continuous monitoring by risk
owners on a daily basis.
2) Supervision by head of work/
business unit on a periodical
basis.
3) Supervision through internal and
external audit on a periodical
basis.
4) Investigation on incident related
to Risk Management.
Reduction of Risks from Inherent Risks (Assessment Results) to Real Risks (Monitoring Results)
Period Prob Impact Exposure Risk Level
INHERENT (Assessment in 2013) 4.13 4.56 18.82 High
Q1 2014 3.94 4.50 17.73 High
Q2 2014 2.81 3.13 8.80 Moderate
Q3 2014 2.31 2.69 6.21 Moderate
Target for Reduction in Q4 2014 1.94 2.31 4.48 Moderate
Based on the above profile data, it can be seen that the level of Risks of Top Risk in the RKAP 2014
for Q4 showed a decline from High Risk to Moderate Risk level with exposure of 4.48 (probability of
1.94 and impact 2.31). This shows that the threats/risks that were expected to be encountered by the
Company have declined.
iii. Risk And Quality Management
Division evaluated and documented
the effectiveness of Risk
Management implementation.
In previous years, the management
of the Company’s risks were carried
out by monitoring the number of
risk mitigation programs which were
planned and implemented. As for
2014, the Company looked more in-
depth about the effectiveness of the
risk mitigation programs by looking
at the decline of risk level that has
been planned.
290 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
2. Socialization, Sharing, Training and Certification of Risk ManagementAlthough there were structural changes, mutations, and pensions, the Company was still trying to
meet the personnel competencies that exist in the Company, in particular those who were included
in the governance structure of risk management. Therefore, the Company conducted information
dissemination program to each unit of works, attending seminars, obtaining certification, and sharing of
risk management.
a. Training, Socialization and CertificationTo ensure adequate competencies of risk management in the Company, Jasa Marga has
also conducted trainings and seminars as well as Risk Management certification program for
management-level employees and staffs, especially those who are directly involved in managing
the risks, either through training held by the Company internally or held by external parties in
collaboration with professionals in the field of risk management, for instance with the Center for
risk Management Studies (CRMS).
Trainings, Seminars and Certifications of Risk Management in 2014
No. Description vendor/ Trainer
Number of Participants Participants
1. Business Continuity Training Management ISO 31000:2009
CRMS 2 Vice President DRQM and Risk Management Manager
2. Enterprise Risk Management Training Fundamental ISO 31000 : 2009
CRMS 2 Assistant Vice President DRQM and Assistant Manager Risk Management
3. Socialization of Risk Register and Report on Mitigation with application
Internal 316 Risk Owner, Risk officer, Risk Assessor, and Representatives from Work Unit, Branch and projects
4. Training on Implementation of Risk Management for Subsidiaries
Internal 22 Representatives from Subsidiaries
Until 2014, the number of employees who holds certification in Risk Management is as follows:
No. Type of Competency Certification Total Active Retired
1. Certified in Enterprise Risk Governance (CERG) 5 3 2
2. Enterprise Risk Management Certified Professional (ERMCP)
5 4 2
3. Enterprise Risk Management Associate Professional (ERMAP)
6 4 1
4. Certified Risk Management Program (CRMP) 2 1 1
b. Risk Management Comparative Study The Company routinely performs comparative studies in order to be always up-to-date
about the knowledge of risk management and the latest development of risk management
from external side as well as to exchange experiences and exchange ideas between
practitioners and professionals in the field of Risk Management in Indonesia. In 2014 the
Company attended the ‘Roundtable Risk Management and Continuous Improvement in an
Organization’, which was held at PT Jasa Marga (Persero) Tbk in cooperation with the CRMS
Indonesia, Enterprise Risk Management Academy (ERMA) Indonesia.
In addition to conduct benchmarking to other companies, the performance of the Company’s
risk management was already considered good enough by other companies that serve as a
benchmarking.
291PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
In 2014, the Company received several
benchmarking of other companies, among
others:
1. Comparative Study on Implementation
of Risk Management at PT Jasa Marga
(Persero), Tbk by PTPN IX (Persero).
2. Comparative Study on Implementation
of Risk Base Budgeting at the Company
by PT Angkasa Pura I (Persero).
3. Comparative Study on Web-Based
Application of the Implementation of
Risk Management by PT Jasindo.
3. Application of Web-Based Risk ManagementSince 2014, the risk management plans set down
by the Company’s work units, branches and
Subsidiaries as well as risk mitigation monitoring
reports per quarter should be done through the
application of web-based Risk Management.
This method is intended to support the
administrative activities that ensure that the risk
management process becomes more efficient
as well as recorded in the database and a more
convenient and faster risk management which
can be accessed anywhere and anytime.
4. Measurement of Risk Management Implementation EffectivenessTo guarantee the implementation of
effective Risk Management that supports the
performance of organization, Jasa Marga, in
cooperation with independent consultant, has
measured the level of Risk Maturity in Risk
Management. This program is the measurement
of risk management implementation
effectiveness, in order to give guidance towards
improvement in risk management system
carried out at Jasa Marga, with the objectives as
follows:
• Obtaining data on gap and description on
how far risk management implementation is
at Jasa Marga.
• Obtaining recommendations (Strength and
OFI) as well as guidance and corrective
advice for the implementation of risk
management going forward.
Initially, Jasa Marga conducted the program of
measuring the effectiveness of risk management
implementation every two (2) years in the
hope that in between measurement programs,
the improvements of risk management
effectiveness are able to be followed up
continuously. However given many and rapid
changes in the development of the system
implemented in the Company, it is necessary
to perform measurements each year to see
the effectiveness of the implementation of the
improvement of existing systems
The model used to measure maturity level of risk
management in 2013 and 2014 has five (5) levels
describing the competencies of the Company
in implementing risk management and six (6)
Measurement Attributes.
Risk Management Maturity Measurement Model
LEvEL
InitialLevel 1
BeginnerLevel 2
CapableLevel 3
ProficientLevel 4
LeaderLevel 5
ATTRIBUTE
LEADERSHIP
RISk MANAGEMENT PRINCIPLES
PROCESS
APPLICATION
EXPERIENCE
CULTURE
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Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Based on the level of maturity that has been generated, it can be drawn the following conclusions:
• For principle attribute, the Company obtained a level of COMPETENT. This means that there is an
understanding of the Company in Risk Management principles and some principles of risk management
began to be applied.
• For Leadership attribute, the Company obtained a level of COMPETENT. This means that in the
Company’s leadership style of its leader has been used as a role model for applying a consistent risk
management throughout the organization.
• As for Application attribute, the Company obtained a level of COMPETENT. This means that in the
Company’s policies and risk management system has begun to be applied but has not been consistent.
The report has not been put in detailed. There are KPI measurements that are related with risk
management, however these have yet to be consistently implemented.
• As for Process attribute, the Company obtained a level of COMPETENT. This means that in the risk
management process in the Company has not been entirely consistent, yet the Company is learning from
experience, and uses a common approach.
• As for Experience attribute, the Company obtained a level of BEGINNERS. This means that the Company
only has the basic competency of risk management.
• As for Culture attribute, the Company obtained a level of COMPETENT. This means that the Company
receives active support from senior management for implementing risk management. The awareness
of risk management starts to improve with some actively seek information about risk management.
There has been a commitment to implement risk management but have not been consistent, and the
coordination is week. However, there is understanding in the elements of the organization to reach the
target and the management started to feel the need for assessing risks during the decision making
process.
• In general, the maturity of the Risk Management of the Company stands at COMPETENT level, with a
score of 3.23.
Results of Measurement of Jasa Marga Risk Maturity Level Based on Attribute
Karakter Nilai Tingkat Maturitas
Culture 3.44 Competent Level 3Process 3.09 Competent Level 3Experience 2.32 Beginner Level 2Application 3.42 Competent Level 3Leadership 3.61 Competent Level 3Principle 3.50 Competent Level 3Maturity Level 3.23 Competent Level 3
The score of maturity of the Company improves from 2013 at 3.12 to 3.23 in 2014, as shown in the
following table:
Year Number of Indicators Score Maturity Level
2013 6 indicators 3.12 Competent, Level 3
2014 6 indicators 3.23 Competent, Level 3
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nixon sitorus• JoinedJasaMargain1997.BeingappointedVP
Risk and Quality Management since 02 February
2015 based Decision of Directors No. No.006/
AA.P-6a/2015 dated 02 February 2015.
• CompletedBachelor’sDegreeinCivil
Engineering from Bandung Institute of
Technologyin1995andMaster’sDegreein
Project Management from University of Indonesia
in 2005.
• PreviouskeypositionsatJasaMargaincluded
Project Manager of Gempol-Pasuruan Toll
Road (2011-2013), Head of Maintenance
Implementation Department of Jagorawi Branch
(2010-2011) and Head of Quality Control and
Implementation Control Department of Porong-
Gempol Toll Road Development Project (2009-
2010), Deputy General Manager Toll Collection
Management of Cawang-Tomang-Cengkareng
Branch (2008-2014) and Head of Maintenance
Supervision, Control and Evaluation Sub Division
of Cawang-Tomang-Cengkareng Branch (2006).
• Ageasof31December2014was42.
Material LitigationMaterial Litigation represents legal matters faced by the Company during the period of the report and they
have been filed for legal process through both Court and Arbitration. Amount Sued represents the amount
of compensation sued against the Company as the defendant or amount of compensation sued by the
Company as the plaintiff, for both material and immaterial losses.
As a pioneer in the field of toll road business, the Company oftentimes deals with various litigations as the
Plaintiff, Defendant as well as Co-defendant. In 2014, material litigations faced by Jasa Marga were all civil
cases.Basedonthetypeofmeritsofcase,JasaMarga’smateriallitigationisclassifiedintoLandLitigation,
Corporate Litigation, Industrial Relations Litigation, and Other Litigation.
For the below legal cases, Jasa Marga believes that the continuation of court investigation or verdict will not
havematerialimpactontheCompanyanditsSubsidiaries.BasedonManagement’sestimatetosettlethe
cases, Jasa Marga has budgeted fund amounting to Rp 8,020,704,000 in RKAP 2014.
The recapitulation of material litigations faced by the Company over the past three years is as follows:
1. The number of material litigations.
2012 2013 2014
26 cases 14 cases 11 cases
2. Details of cases
types of Case number of Cases
Land Litigation 6 casesCorporate Litigation 3 casesIndustrial Relations Litigation 1 caseOthers 1 case
ProFiLE oF vP risK AnD QuALity MAnAgEMEnt
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3. Legas cases and its completion status.
Legal Issues
Number of Cases
Civil Cases Pidana Industrial Relations
Completed (having permanent legal force) - - 1 case
In the process of completion 10 cases - -
The details of material litigations faced by the Company among others were as follows:
LAND LITIGATION
CASE OF ONIH BINTI RIDI
Case No.: 75/Pdt/2014/PT.DKIInstitution: High Court of DKI JakartaParties: Plaintiff: Urip bin Nasar and Onih binti Ridi
Defendant: Jasa MargaMerits of Case: Lawsuit in relation to ownership of 9,164-m2 land on JORR Toll Road
Ulujami-Pondok Aren SectionStatus of Case: The Verdict of High Court of DKI Jakarta on 25 March 2014 confirmed
the verdict of State Court of South Jakarta No. 205/Pdt.G/2012/PN.Jkt.Sel denying Plaintiff’s suit.
Management Efforts: At present, the case in the process cassation at the Supreme Court of the Republic of Indonesia
Amount Sued: Rp 13,892,624,000Impact of Case on the Company: No impact.
CASE OF SRI SUPARTINI
Case No.: 490 PK/Pdt/2007
Institution: Supreme Court
Parties: Plaintiff: Sri Supartini Cs.Defendant I: Land Acquisition Team (P2T) of Tangerang RegencyDefendant II: Department of Settlement and Regional InfrastructureDefendant III: Jasa Marga
Merits of Case: Lawsuit in relation to ownership of 5,500-m2 land on JORR Toll Road Ulujami-Pondok Aren Section
Status of Case: At the level of Judicial Review, the case has reached a verdict on 03 July 2008, Jasa Marga’s Judicial Review was denied.
Management Efforts: Jasa Marga has coordinated with the Ministry of Public Works to file counter suit.
Amount Sued: Rp 20,140,000,000
Impact of Case on the Company: No impact.
295PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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CASE OF FIKRI GANI
Case No.: 283/Pdt.G/2014/PN.Bks
Institution: District Court of Bekasi
Parties: Plaintiff : Fikri GaniDefendant I : Land National AgencyDefendant II : Jasa Marga
Merits of Case: Lawsuit in relation to ownership of 1,935 -m2 land in Caman, Bekasi on Jakarta-Cikampek Toll Road.
Status of Case: The case is still in the process at District Court level.
Management Efforts: Jasa Marga has appointed legal consultant and at present it is in the process of settlement at Bekasi District Court.
Amount Sued: Rp 13,545,000,000
Impact of Case on the Company: No impact.
CASE OF MUSTAFA RAHMAN
Case No.: 1173 K/PDT/2012
Institution: Supreme Court
Parties: Defendant I : Department of Settlement and Regional Infrastructure (Department of Public Works)Defendant II : Mayor of East JakartaDefendant III : PT Jasa Marga (Persero) TbkDefendant : Mustafa Rahman
Merits of Case: Lawsuit in relation to ownership of 6,670-m2 land used for JORR Toll Road E1 Section.
Status of Case: At cassation level, the case has reached a verdict on 21 October 2013, Petition for Cassation of Jasa Marga, Minister of Public Works and Mayor of East Jakarta was denied.
Management Efforts: Jasa Marga has applied for Judicial Review of such verdict on 12 December 2013.
Amount Sued: Rp 17,775,000,000
Impact of Case on the Company: No impact.
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CASE OF BENUA CHANDRA
Case No.: 704 K/Pdt/2007
Institution: Supreme Court
Parties: Plaintiff : Benua ChandraDefendant I : Jasa MargaDefendant II-VI : Directorate General of Bina Marga CsDefendant VII : Director of PT Perkebunan Nusantara IIDefendant VIII-IX : Head of Regional Office of Land National Agency of North Sumatera Province CsDefendant X : Director of PT Kawasan Industri MedanDefendant XI-XVI : Regent Deli Serdang Cs
Merits of Case: Lawsuit in relation to ownership of 3,603 m2 land used for Mabar Office and Toll Gate on Belmera Toll Road.
Status of Case: At Cassation level, the case has reached a verdict on 26 September 2007, Jasa Marga’s Petition for Cassation was denied.
Management Efforts: Jasa Marga has applied for Judicial Review to Supreme Court through District Court of Lubuk Pakam, and the case is still under investigation of Supreme Court.
Amount Sued: Rp 12,882,400,000
Impact of Case on the Company: No impact.
CORPORATE LITIGATION
KASUS TIRTOBUMI II
Case No.: 180/PDT/2013/PT.DKI
Institution: District Court of East Jakarta
Parties: Plaintiff : PT TirtobumiDefendant : Jasa MargaCo-Defendant : Ministry of Public Works
Merits of Case: Tirtobumi filed a lawsuit over Unlawful Act against Jasa Marga on the ground that Jasa Marga did not carry out BANI’s verdicts.
Status of Case: At the level of Appeals, the case has reached a verdict on 15 July 2013, the appeal of Jasa Marga and Minister of Public Works was granted. Official copy of the said verdict was received by the Plaintiff on 17 December 2013.
Management Efforts: Jasa Marga keeps monitoring the continuation of the case on the next litigation process in court.
Amount Sued: Rp 1,247,576,000,000
Impact of Case on the Company: No impact.
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CASE OF WIDENING OF CIKAMPEK-CIBITUNG TOLL ROAD SECTION (BTS 1)
Case No.: 240 K/Pdt/2012
Institution: Supreme Court
Parties: In rebuttal:Cassation Applicant : Jasa MargaCassation Respondent : Bangun Tjipta Sarana (BTS) In counter-suitCassation Applicant : Bangun Tjipta Sarana (BTS)Cassation Respondent : Jasa Marga
Merits of Case: Lawsuit filed by Jasa Marga against BTS in relation to Revenue Sharing Agreement for Cikampek-Cibitung Section of Jakarta-Cikampek Toll Road No. 109 dated 16 October 2002.
Status of Case: At Cassation level, the case has reached a verdict on 24 July 2012, petition for Cassation of Jasa Marga and BTS was denied.
Management Efforts: Jasa Marga has applied for Judicial Review on 09 October 2013.
Amount Sued: a. Jasa Marga sued for Rp 583,053,000,000b. BTS sued (in counter-suit) Rp 4,827,233,000,000
Impact of Case on the Company: No impact.
CASE OF PT MITRA JUJUR INDONESIA
Case No.: 252/PDT.G/2014/PN.JKT.TIM
Institution: District Court of East Jakarta
Parties: Plaintiff : PT. Mitra Jujur IndonesiaDefendant I : Jasa MargaDefendant II : PT Purnajasa BimapratamaCo-Defendant : PT Bank Sumut Jakarta Special Branch
Merits of Case: Objection to termination of Contract of Works in Renovating Tomang Toll Gate on Cawang-Tomang-Cengkareng Toll Road.
Status of Case: The case is being processed at District Court level.
Management Efforts: Jasa Marga has appointed legal consultant and at present is in the process of settlement at District Court of East Jakarta.
Amount Sued: Rp 13,200,000,000
Impact of Case on the Company: No impact.
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INDUSTRIAL RELATIONS LITIGATION
CASE OF INDUSTRIAL RELATIONS COURT BANDUNG
Case No.: 116/G/2013/PHI/PN.Bdg
Institution: Industrial Relations Court Bandung
Parties: Plaintiff 1 : Cecep Cahyadi, A.Md, Cs.Defendant : Jasa Marga
Merits of Case: Lawsuit filed by former employees of Purbaleunyi Branch in Industrial Relations Court Bandung.
Status of Case: The case has reached a verdict on 08 January 2014 with verdict No. 116/G/PHI/PN.Bdg.
Management Efforts: Based on Judge Verdict on 08 January 2014, the work relation between the Plaintiffs and Defendant has been terminated along with all legal consequences effective from the verdict was read out. The verdict has permanent legal standing hence no more legal efforts are required.
Amount Sued: Salary and religious allowance amounting to Rp 503,011,056
Impact of Case on the Company: No impact.
OTHER LITIGATION
CASE OF THAMRIN TANJUNG
Case No.: 94/Pdt.G/2014/PN.Jkt.Tim
Institution: District Court of East Jakarta
Parties: Plaintiff 1 : Ir. Thamrin TanjungDefendant I : Attorney GeneralDefendant II : GOI C.q. Ministry of Public WorksDefendant III : Jasa MargaCo-Defendant I : PT Marga Nurindo BhaktiCo-Defendant II : PT Hutama KaryaCo-Defendant III : PT Yala PerkasaCo-Defendant IV : Konsorsium Hutama Yala
Merits of Case: Thamrin Tanjung filed a lawsuit over Unlawful Act against HK, Jasa Marga, Minister of Public Works and Attorney General of Central Jakarta in relation to execution of JORR Toll Road Section S based on Verdict No. 720 K/Pid/2001.
Status of Case: Case is still being tried at District Court of East Jakarta.
Management Efforts: Jasa Marga keeps monitoring the continuation of the case on the litigation process in court.
Amount Sued: Rp 20,975,000,000.
Impact of Case on the Company: No impact.
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LITIGATION AT SUBSIDIARIESIn 2014, no litigation is faced by either the Subsidiaries or the Board of Commissioners and Directors
of Subsidiaries.
Litigation at Subsidiaries as of 31 December 2014
Name of Subsidiary Litigation Amount Sued
PT Jalantol Lingkarluar JakartaJakarta Outer Ring Road Toll Road)
None None
PT Marga Lingkar Jakarta(JORR W2 North Toll Road)
None None
PT Marga Sarana Jabar(Bogor Outer Ring Road Toll Road)
None None
PT Marga Kunciran Cengkareng(Cengkareng-Kunciran Toll Road)
None None
PT Marga Trans Nusantara(Kunciran-Serpong Toll Road)
None None
PT Marga Trans Jateng(Semarang-Solo Toll Road)
None None
PT Marga Nujyasumo Agung(Surabaya-Mojokerto Toll Road)
None None
PT Transmarga Jatim Pasuruan(Gempol-Pasuruan Toll Road)
None None
PT Jasamarga Bali Tol(Nusa Dua-Ngurah Rai-Benoa Toll Road)
None None
PT Jasamarga Pandaan Tol(Gempol-Pandaan Toll Road)
None None
PT Jasa Layanan Pemeliharaan(previously PT Sarana Marga Utama)
None None
PT Jasamarga Properti(Field of property services)
None None
PT Jasamarga Kualanamu Tol(Medan-Kualanamu-Tebing Tinggi Toll Road)
None None
LITIGATION FACED BY MEMBERS OF BOARD OF COMMISSIONERS AND DIRECTORSIn 2014, no litigation is faced by Members of Board of Commissioners and Directors in office.
Information on Administrative SanctionsIn 2014, the Company received administrative sanction from the Financial Service Authority (Otoritas
Jasa Keuangan/OJK) as stated in the letter of Financial Service Authority No. S-57/PM.15/2013 dated
December 19, 2013 as the Company does not fulfill fairness opinion from independent appraiser on affiliate
transactions, related with the purchase of the shares of PT Translingkar Kita Jaya from PT Waskita Karya
(Persero) and that the validity period of appraisal summary report to be publicly announced has exceeded
6 (six) months.
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Code of Conduct and Corporate CultureEthics and culture are the foundation of GCG
implementation at Jasa Marga, given that
organization certainly consists of people in it. In
managing GCG, implementation of GCG is then
inseparable from running ethical business and
forming the awareness of the Company and its
employees with sense of social responsibility to the
community so as to avoid conflicts of interest and of
prevailing rules and regulations.
CODE OF ETHICSIn the improvement of GCG implementation, Jasa
Marga has formulated various policies in relation to
corporate ethics. Jasa Marga has made efforts to
implement best practice ethical standard in carrying
out all of its business activities in line with its Vision,
Mission and culture though the implementation of
Business Ethics and Work Ethics.
The Company completely realizes that good
relationship with the stakeholders and improvement
in value of Shareholders in the long run are only
achievable through business integrity in each of
business activities of the Company as stated in
Business Ethics and Work Ethics.
Code of ConductThe Company has had standard of Code of Ethics
called Code of Conduct since 2010. The Code of
Conduct is arranged to for the carrying out of good
and right corporate management, hence it requires
guidelines that are intended to form and regulate
the accordance of behavior to achieve consistent
GCG implementation as the Company’s culture that
maximizes the implementation of the principles of
good corporate governance for the accomplishment
of the Company’s Vision and Mission.
With the spirit of change, there has been a revision
to the book of Code of Conduct of Jasa Marga and
this serves as part of GCG implementation that is
expected to be the basis for all level of Jasa Marga
Management and Individuals in carrying out their
duties, with the Decision of Directors No. 175/
KPTS/2013 dated 17 December 2013 on Code of
Conduct.
Code of Conduct is the guidelines for all
individuals of the Company, starting from the
Board of Commissioners, Directors and the entire
employees, in working and interacting with the
entire stakeholders of the Company. With the
main values of the Company while carrying out
the Company’s Code of Conduct consistently, all
Jasa Marga individuals, wherever they are, they will
constantly support the implementation of good
corporate governance, which in the end will lead to
the increase in corporate image for the benefit of
the entire stakeholders.
Principles of Code of ConductThe Company’s Code of Conduct regulates the
ethical values that are explicitly stated as standards
of behavior to which all Jasa Marga Individuals
must refer.
The principles of Good Corporate Governance (GCG)
implemented in Code of Conduct are as follows:
1. Transparency The Company ensures disclosure of
material and relevant information about the
performance, financial condition and other
information in a clear, adequate, accurate,
comparable and timely and easily accessible
to stakeholders in accordance with their rights.
The principle of openness does not undermine
the obligation to protect confidential
information about the Company and the
Customer and Partners in accordance with the
applicable laws and regulations.
2. Accountability The Company ensures clarity of the functions,
rights, obligations, authorities, and accountability
of the Company’s Board which enables
effectiveness of the management of the
Company. Accountability refers to the obligation
of a person or organ of the Company and the
implementation of his/her authority and/or
responsibilities assigned by the Company to the
person or particular organ.
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3. Responsibility The Company ensures compliance in conducting business activities based on the principles of healthy
corporate, fulfillment of obligations to the Government in accordance with regulations, work together for
mutual benefits and strive to make a significant contribution to society.
4. Independence The Company guarantees the Company is managed in a professional manner without any conflict of
interest and influence/pressure from any parties which is not in accordance with prevailing laws and
regulations and the principles of healthy corporate.
5. Fairness The Company guarantees fair and equal treatment in fulfilling the rights of stakeholders based on the
provisions and prevailing laws and regulations.
The Code of Conduct is prepared to implement good and proper corporate governance. The guideline aims
to establish and regulate the suitability of behavior in order to achieve a consistent application of GCG as a
corporate culture, which maximizes the application of the principles of Good Corporate Governance, which
ultimately achieving the Vision and Mission of the Company.
Contents and Implementation of Code of ConductThe Company’s Code of Conduct determines policies on ethical values which are set out explicitly as a
standard of behaviors that must be followed by all elements of Jasa Marga.
Code of Conduct contains the following matters:
Chapter I Introduction
Chapter II Principles of Good Corporate Governance
Chapter III Business Ethics of the Company
Chapter IV Ethics/Code of Conduct Required for Jasa Marga Individuals
Chapter V Enforcement and Reporting
In accordance with the provisions of the Code of Conduct that has been approved through the Decision
of the Directors No. 175/KPTS/2013 dated December 17, 2013 on the Code of Conduct that the Code of
Conduct applies to all elements of Jasa Marga, ranging from the Board of Commissioners, Directors,
Vice President/General Managers/Unit Heads/Assistant Vice President/Deputy General Manager,
Manager, and staffs.
Jasa Marga Individual
JASA MARGA INDIvIDUAL
Board of Commissioners
Employees of the CompanyEmployees assigned at Subsidiaries and other
institutions
other personnel directly work for and on behalf
of the Company
Directors
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Socialization and Efforts to Enforce Code of ConductCode of Conduct is disclosed and/or distributed
to all Jasa Marga Individuals by means of various
media of the Company, including by making use of
the information technology so that it is accessible
by all employees at any time. Periodically, through
Memo and/or Circular Letter from the Directors,
all Jasa Marga Individuals are informed of the
implementation of business ethics.
The media to disseminate the Code of Conduct,
among others, through:
• Website
• Pocket Books
• Banners
• Bulletin
• The Statement of Commitment which was signed
jointly was reproduced and put in frame and then
distributed throughout Work Units and Branches
• Company Jingle
• Ads in newspapers
To assure that Jasa Marga Individuals’ behavior are
based on ethical business, a number of strategic
initiatives were undertaken through among others:
1. The Commitment of Board of Commissioners,
and Directors and Employees to implement
Good Corporate Governance in every step of the
Company, which are set out in the Integrity Pact,
which is renewed at every beginning of the year.
2. Exemplary Leadership by giving examples of
attitude and behavior that are not in conflicting
with the Company’s policies and regulations
regarding Good Corporate Governance.
In 2014, enforcement of the Code of Conduct is
carried out in several ways, among others:
1. The signing of an Integrity Pact by all elements of
the Company, which is renewed every year.
2. Socialization through the company’s internal
media (Toll Road News and Toll road Info)
3. Submitting State Officials Wealth Report
(LHKPN) up to the AVP level in 2014
4. Reporting Gratification to the KPK and
establishes cooperation program
5. Reporting Gratification to the Commission and
cooperating with the KPK on the Gratification
Control Program. In 2014, both parties
cooperated in providing Training of Trainers (ToT)
on Gratification Control Program
6. The Establishment of Jasa Marga Gratification
Control Unit within Compliance Department, GCG
section.
7. Advertising on gratification ban in various mass
media and websites
8. Changes in the Board’s decision on Guidelines
for Handling Gratification No. 183/KPTS/2014
dated October 22, 2014 which was then printed in
pocket books and distributed to all employees of
Jasa Marga.
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The efforts to reinfornce the implementation of Code of Conduct in view of the relationship with the
stakeholders of the Company are as follows:
GOOD CORPORATE GOvERNANCE (GCG) PRINCIPLES
Transparency, Accountability, Responsibility, Independence and Fairness
CODE OF CONDUCT
Based on Decision of the Directors No. 175/KPTS/2013 dated 17 December 2013 on Code of Conduct
Business Ethics Ethics/Conduct of Jasa Marga IndividualsGood conducts in doing business activities, covering all aspects relating to the individual, the Company, industry and communities. These include how we conduct business fairly in accordance with prevailing laws, and do not depend on the position of the individual or the Company in the community.
System of values or norms shared by all leaders and employees in carrying out their tasks, including ethical relationships between employees and the Company.
1. Compliance with Rules and Regulations
2. Gratification Handling3. Care for Occupational Safety
and Health4. Equal Opportunity for
Employees to Have Job, Be Promoted and Stop Working
5. Ethical Standard in the Relationship with Stakeholders:a. Relationship with Jasa
Marga Individualsb. Relationship with
Governmentc. Relationship with
Shareholdersd. Relationship with Toll
Road Users and Other Customers
e. Relationship with Business Partners
f. Relationship with Competitorsg. Relationship with Creditors/
Investorsh. Relationship with Suppliers/
Contractori. Relationship with Community and
Surrounding Environmentj. Relationship with Mass Mediak. Relationship with Subsidiaries
6. Ethical Standard of the Management and Employeesa. Superior to Subordinateb. Subordinate to Superiorc. Between Colleagues
7. Intellectual Property Rights
1. Commitment of Jasa Marga Individuals2. Maintain Good Image of the Company3. Maintain Good Relationship among Jasa Marga
Individuals4. Maintain Confidentiality of the Company5. Maintain and Use the Company’s Assets6. Maintain Occupational Safety, Health and
Environment7. Immoral Conducts, Narcotics, Illegal Drugs, Gambling
and Smoking8. Conduct Data Recording and Reporting9. Avoid Insider’s Trading10. Gratification Handling11. Avoid Conflict of Interest12. Political Activities
Each Jasa Marga Individual has signed Integrity Pact to show the commitment to GCG implementation in
the Company’s operational activities. The signing of the said commitment has been fulfilled by 100% of Jasa
Marga Individuals.
CORPORATE CULTUREThe implementation of good corporate governance will succeed when supported by strong corporate
culture. The approach of culture internalization is carried out by means of intervention of three aspects,
namely leadership, system and employees. By applying the said approach, apart from written in policies
and procedures, Jasa Marga’s culture becomes soft skills that are practiced by the Board of Commissioners,
Directors and employees in the carrying out of their daily tasks.
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Statement of Corporate Culture of the CompanyThe Company has decided corporate culture better
known as Corporate Values. To make adjustments
towards the direction of long-term growth and
development of the Company with great potential
in toll road business in the future awaits, as well as
to achieve the Company’s Vision and Mission, the
Company then changed its Corporate Values in 2013
into: Jujur (Trustworthy), Sigap (Agile), Mumpuni
(Qualified), and Respek (Respectful). The four values
serve as the foundation in the interaction between
Jasa Marga Individuals and the stakeholders.
The Corporate Values have been approved by the
Board of Commissioners and Directors with the
Decision of Directors No. 50/KPTS/2013 dated 01
March 2013 on the Vision, Mission and Corporate
Values. To indicate its seriousness and to monitor
the effectiveness of the implementation of its Values,
the Company has formed guidelines for socializing
and evaluating the Vision, Mission and Values of the
Company with the issuance of Decision of Directors
No. 173/KPTS/2014 dated 15 October 2014.
Principles of Corporate CultureThe corporate culture serving as foundation in the interaction between Jasa Marga Individuals and the
stakeholders, that is better known as Corporate Values of the Company are described as follows:
j JUJUR (TRUSTWORTHY)Jasa Marga is committed to always being TRUSTwoRTHY, fair, transparent and free from conflict of interests in carrying out its business activities.
S SIGAP (AGILE)Jasa Marga is AGilE in providing services to the customers and other stakeholders by being concerned and proactive while constantly staying prudent.
M MUMPUNI (qUALIFIED)Jasa Marga is QUAliFiED in performing the duties with the basis of competency, consistency and innovation.
R RESPEK (RESPECTFUL)Jasa Marga is RESPECTFUl to the stakeholders in creating synergy to make achievements.
Socialization of Corporate valuesThe above Corporate Values are continuously socialized to all Jasa Marga Individuals (Board of
Commissioners, Directors, Employees of the Company, Employees assigned at Subsidiaries and other
parties, and other personnel directly work for and on behalf of the Company). The distribution and
socialization of Corporate Values are carried out via internal and external sites of the Company, slide
presenting Corporate Values at every training or meeting, placement of banner at strategic spots at
the Company.
The programs that were carried out in 2014 among others were as follows:
1. The obligation to include the Values of the Company in the documents of procurement of goods/
services within the Company and during aanwijzing meeting.
2. Evaluation of Vision, Mission and Values of the Company at all work units and branches. Evaluation
consists of comprehension of Vision, Mission and Values along with evaluation of effectiveness level of
the socialization of Vision, Mission and Values.
3. Description of Vision, Mission and Values until operational level by a consultant.
4. Socialization and survey on comprehension and effectiveness of the socialization of Decision of
the Directors No. 173/KPTS/2014 dated 15 October 2014 regarding Guidelines on Socialization and
Evaluation of Vision, Mission and Values of the Company in October 2014.
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Shares Ownership Program for Employees and/or Management (MSOP/ESOP)
JASA MARGA MSOP/ESOP PROGRAMJasa Marga does not have MSOP/ESOP program
yet has Program Penjatahan Saham Karyawan
(Employee Stock Allocation – ESA). The main
objective of this program is in order that employees
have a sense of belonging that is expected to
accelerate their productivity; hence enhancing the
Company’s overall performance and ultimately
increasing the Company’s value for all stakeholders.
ESA program consists of:
1. Bonus Share
Commissioners (other than Independent
Commissioner), Directors and all permanent
employees of Jasa Marga meeting certain criteria
received Bonus Shares at the time of the Initial
Public Offering in the amount equivalent one
month’s salary of the month of June 2007. Jasa
Marga anticipated the grant up to approximately
11,862,000 shares under the bonus share grant
scheme, of which approximately 1.7% and
98.3% were allocated to non-independent
Commissioners/Directors and employees,
respectively.
2. Fixed-Allotment Share
In addition to Bonus Shares, participants were
given opportunity to purchase Fixed-Allotment
Shares at the time of the Initial Public Offering.
The number of shares for Fixed-Allotment Shares
was approximately 192,138,000 shares. The
allocation was made in proportion to employee’s
monthly salary and was subject to certain limits.
NUMBER OF ESA SHARESIn line with the Extraordinary General Meeting of
Shareholders of Jasa Marga on 12 September 2007,
the Shareholders approved the plan on Employee
Stock Allocation (ESA), referring to BAPEPAM
Regulation No. IX A.7 that provides opportunity
for employees, management and/or certain other
parties that are stated in the Decision Letter issued
by the Company, to own a maximum of 10% of the
shares that are offered to the public (or amounting
to 204,000,000 shares).
PERIOD OF ESAIn accordance with the provisions, the Bonus Shares
were subject to a three-year lock up period, during
which they are not allowed to be sold or transferred.
REqUIREMENTS FOR ENTITLED EMPLOYEES AND/OR MANAGEMENTBased on Decision of the Directors No. 182.1/
KPTS/2007 on Shares Ownership Program for
Employees and Management of PT Jasa Marga
(Persero) Tbk. during the Privatization Process of
PT Jasa Marga (Persero) Tbk., participants of ESA
program are the Company’s Permanent Employees,
Directors, Board of Commissioners excluding
Independent Commissioners, Secretary of Board
of Commissioners, and Secretaries to Directors, all
listed in the Administration of Information System of
Human Resources Management of the Company on
31 October 2007.
ExERCISE PRICEAs it is ESA Program, there is no exercise price. The
share price at the IPO was Rp 1,700 per share.
Equal Treatment to All ShareholdersJasa Marga ensures equal treatment to all of
its shareholders, including minority and foreign
shareholders. Jasa Marga also applies fair and equal
treatments to shares that belong to same category,
prohibits insider trading and self-dealing, and
requires the Board of Commissioners to disclose
all transactions that contain a conflict of interest. In
addition, Jasa Marga recognizes stakeholders’ rights,
as protected by law, and seeks to promote active
cooperation with the stakeholders.
Jasa Marga Guarantees that in Annual GMS and
Extraordinary GMS, the shareholders are entitled
to equal treatment and balanced position in giving
their opinion as well as contribution in the process
of making significant and strategic decisions in
accordance with the number of type of shares they
hold, the Company’s Articles of Association, along
with prevailing rules and regulations.
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In GCG assessment in 2014 carried out by
independent party, in the aspect of Shareholders
and GMS, the Company achieved the score of
96.63% with the predicate of very good.
Whistleblowing SystemWhistleblowing System is a system that manages
the reporting/disclosures of illegal conducts,
and unethical/improper conducts in confidential,
anonymous and independent manners to be used in
optimizing the roles of Jasa Marga Individuals as well
as other parties in revealing misconducts that occur
in the Company.
As part of its commitment to continually
improving GCG implementation, the Company
urges that violation to GCG implementation
and Code of Conduct be avoided by the entire
Jasa Marga Individuals. In view of the above,
the Company has implemented Whistleblowing
System as the media for submitting report on
violation of GCG implementation and Code of
Conduct of the Company.
The Company has provided a means of
whistleblowing system called JASA MARGA
AMANAH (Trustworthy Jasa Marga) available for
all Jasa Marga Individuals as well as external parties
since 16 January 2013. The management of the
Company’s Whistleblowing System refers to the
Decision of the Directors No. 09/KPTS/2013 dated 13
January 2013 on Whistleblowing System of PT Jasa
Marga (Persero) Tbk. and Decision of the Directors
No. 10/KPTS/2013 dated 13 January 2013 on the
Forming of Whistleblowing System Management
Team of PT Jasa Marga (Persero) Tbk.
Each incoming report will be studied, classified and
followed up by means of thorough investigation
based on the facts received. The decision whether or
not the report is proven will be made based on the
considerations of impact of misconduct, degree of
intentionality and motives of misconduct.
Sanctions for misconducts may range from verbal
warning, warning letter (I, II, III), to termination of
employment. The Company does not tolerate any
violation related to integrity.
Whistleblowing System Management team
Whistleblowing System (WBS) is mechanism
for violation reporting conducted confidentially
by employees or leaders of the Company. The
reporting is made by means of standard mechanism
managed professionally by Whistleblowing System
Management Team assisted by Whistleblowing
System Administration Management, namely PT
Deloitte Konsultan Indonesia that was selected
through the process of procurement of goods/
services at the Company.
Membership of Whistleblowing System Management
Team is as follows:
Members of Whistleblowing System Management Team
Member Composition Position in Team
Head of Internal Audit Chairman and MemberCorporate Secretary Secretary and MemberVP Legal MemberGM Human Capital Services MemberVP Risk and Quality Management
Member
BASIS OF IMPLEMENTING WHISTLEBLOWING SYSTEM1. The Company’s willingness to continue to enforce
Good Corporate Governance principles within
the entire Company, particularly in relation to
integrity and transparency.
2. The Company’s commitment to providing
means for the enforcement of Good Corporate
Governance principles, thus creating clean and
responsible work situation.
3. One of the powerful tools in avoiding and
detecting potential violations in the Company.
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OBJECTIvES, PURPOSES AND BENEFITS OF WHISTLEBLOWING SYSTEMThe objectives, purposes and benefits of implementing Whistleblowing System (WBS) at the Company are
as follows:
1. Providing the means of submitting important and critical information for the Company to the parties that
that is required to deal with the issues securely.
2. Making available of early warning system mechanism.
3. Providing opportunity to first deal with the issues of misconduct internally prior to becoming
public violation.
4. Creating reluctance to commit any violations (supervision by all parties).
SOCIALIZATION OF WHISTLEBLOWING SYSTEMInternal socialization of Whistleblowing System (WBS) in the Company was carried out through various
media such as internal bulletin, poster, and ethics socializing as well as direct presentation to related units.
Externally, the socialization was carried out by using the Company’s website and circular letter/memo.
Improvement of Whistleblowing System Implementation
2013 2014
1. Decision of Directors on the Amendment of whistleblowing Guidance System Company
2. The signing of the contract with Deloitte as an administrative manager of whistleblowing System
3. whistleblowing System goes live4. Socialization of whistleblowing
System to the entire work unit and Branch
1. Application of whistleblowing System according to the rules and regulations
2. Socialization of whistleblowing System through print pocket book of whistleblowing System and internal media of the Company
3. Evaluation of the implementation of whistleblowing System in the Company
SCOPE OF WHISTLEBLOWING SYSTEMThe scope of reporting/whistleblowing that will be followed up by Whistleblowing System covers the actions
that may cause potential loss to the Company, and they include the following:
1. Violation of prevailing rules and regulations
2. Misuse of position for the interests not of the Company’s
3. Extortion
4. Fraud
5. Conflict of interest
6. Gratification
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MEANS OF WHISTLEBLOWINGWhistleblower reports in the form of letter accompanied with required supporting documents. The report is
submitted via one of the following means:
Means of Whistleblowing
+62 21 23 50 7022
0811 1255 550
+62 21 2350 7023
http://jasamarga.tipoffs.asia
P.O Box 2332, JKP 10023
@
For whistleblowing via phone calls and text messages, live reporting time is from 07:00 wiB (western indonesian Time) to 21:00 wiB, otherwise will be diverted to voice mail.
MECHANISM OF RECEIvING REPORTS IN WHISTLEBLOWING SYSTEMThe mechanism of receiving whistleblower’s report is shown in the following diagram:
Mechanism of Receiving Reports in Whistleblowing System
Deloitte contact center responds when whistleblower asks the follow up status of the report
MEANS OF WHISTLEBLOWING
@
Deloitte analyst asks
relevant information
to whistleblower
Deloitte analyst will give unique reference number to
whistleblower
Deloitte forensic
investigator reviews call log, make
investigation report and follow up
recommen-dations
Report will be published in e-Room and email notice
will be sent to all members
of Jasa Marga wBS
Management Team
wBS Management
Team will follow up and respond to the case to
Deloitte
Deloitte Contact Center
responds to whistleblower
based on reference number
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FLOW OF WHISTLEBLOWING SYSTEM PROCESSWhen the documents and evidences submitted are complete, Whistleblowing Team conducts data selection
and decides whether or not the case is able to move up to investigation as the next level. With enough
evidences, the report will then move to higher stage, i.e. investigation.
Unproven report will be returned to the whistleblower. When proven, Whistleblowing Team will report
finding results to the Directors. Reports related to the Management below Directors are addressed to the
President Director in the form of letter, whereas reports related to Directors are addressed to the Board of
Commissioners.
The flow of the process of Whistleblowing System is shown in the following diagram:
Flow of Whistleblowing System Process
Notes:
1. Whistleblower will always get
feedback and status of the report
submitted
2. Flow of Whistleblowing
If Employees and Board
of Commissioners are
being reported, report is
addressed to WBS Team
If WBS Team is reported,
report is addressed to
Directors
If Directors are reported,
report is addressed to Board
of Commissioners
Reported to Directors
Reported to Board of
Commissioners
Report on Results of
investigation
Decision of Directors/Board of
Commissioners
Fulfill Criteria?
Further investigation?
whistle-blower
Preliminary Analysis by wBS
Team
internal investigation
Special investigation
wBS Team
Punishment in accordance with applicable procedures
Respond/Feedback
Forwarded to Related Function
Case Closed
whistle-blower
PROTECTION FOR WHISTLEBLOWERThe Company provides the means for whistleblowing (phone, letter, email); facilities that are independent,
free, and confidential for whistleblower, so that secured whistleblowing process is carried out. Moreover,
WBS also maintains confidentiality of whistleblower’s identity for the purpose of giving protection to
whistleblower and his/her family from adverse actions by reported parties or organization. Information on
the carrying out of report follow up will be submitted confidentially to whistleblower with complete identity.
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IMPLEMENTATION OF WHISTLEBLOWING SYSTEM IN 2014Throughout 2014, there were 8 (eight) reports and 5 (five) of which were followed up until the final process.
Number of Whistleblowing Reports in 2014
Means of Reports Total
Phone 2
SMS 3
Website 0
Email 2
Faximile 0
PO BOX 1
Procurement of Goods and ServicesThe Company’s policy in implementing the
Procurement of Goods and Services contained
in the Decision of Directors No. 143/KPTS/
2014 dated August 25, 2014 on Guidelines for
Procurement of Goods/Services in the Company.
This policy is a revision of a previous regulation
No. 15/KPTS/2013 and its derivative provisions
that regulates the user of goods and services,
management of goods and service procurement,
procurement manager for goods and services,
providers of goods and services, materials
managers, procurement team, and authorities
as well as providers of goods and services in
accordance with the duties, functions, rights and
obligations as well as the role of the parties in the
process of procurement of goods and services.
This policy contains provisions governing the
appointment basis directly by the Company to
the Subsidiary as well as an increase in the limits
of authority in granting of principle approval, in
particular to the General Manager of the Branch
for the provision of contract service, which was
originally up to Rp25 billion to up to Rp 75 billion,
and an increase in the value of procurement of
goods/services with the Direct Selection of the
original value of between Rp 100 million to Rp 500
million to between Rp 100 million to Rp 700 million.
This policy change was made with consideration
of the changes to the organizational structure in
2014. There is a need to make adjustments to get
back on the concept of the Director’s decision on
the procurement of goods and services. In this
amendment of Directors’ decision, the Company
has also coordinated with the Business Competition
Supervisory Commission (KPPU).
Therefore, the issuance of this Directors’ Stipulation
is expected to be used as a reference in various
activities Goods/Services Procurement at the Head
office and at branch offices in order to realize the
procurement of goods/services that are efficient,
effective, competitive, fair and transparent and
accountable.
The objective of the procurement is to acquire
goods and services required the Company by taking
into account the quality and delivery time from the
right sources with the lowest total cost and carried
through strategy, planning, procurement processes
and controls are effective and efficient and in
accordance with the applicable procedures.
To achieve the main objective of the Supply Chain
Management that guarantees the implementation
of business activities as well as the creation of
added value (value creation) and increasing the
competitiveness of the Company, the Company’s
management policy is as follows:
a. Management of Gods and Service Procurement
b. Management of Contract for Goods and Service
Procurement
c. Management of Goods and Services Provider
The procurement of goods and services in the
company refers to the PER-05/MBU/2008 on
General Guidelines for Procurement of Goods
and Services for State Owned Enterprises and its
amendments PER-15/MBU/2012 governing the
procurement of goods and services carried out by
using funds other than funds of APBN/APBD.
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THE COMPANY’S ETHICS IN PROCUREMENT OF GOODS AND SERvICESThe Company carries out the procurement of goods
and services based on the principles of competitive,
transparent, just, fair, and accountable. Ethical
conducts expected in the relationship with providers
of goods and services among others are as follows:
• Decision of goods and services provider is
required to be based on product quality, after-
sales services, warranty, performance and track
record, while prioritizing the interest of the
Company.
• Respect the rights and obligations in accordance
with agreement and provisions of law.
• Nurture open communication during the
implementation of procurement process in order
to fulfill the rights and obligations of all parties.
• Evaluate providers of goods and services and
take stern action against unethical providers of
goods and services.
IMPLEMENTATION OF E-PROCUREMENTTo prevent KKN practices, apart from the needs
for improvement of system and procedure for the
procurement of goods and services to be more
transparent and accountable, it is also necessary
to find alternatives meeting the principles of Good
Corporate Governance (GCG), particularly the
principles of transparency and fairness.
Within the state-owned enterprises (SOEs), the
State Minister for SOEs has issued Regulation of
State Minister for SOEs No. Per-01/MBU/2011 on
Implementation of Good Corporate Governance at
State Owned Enterprises, that explicitly explains
Information Technology Corporate Governance.
With the existence of the said Regulation, SOEs
are required to implement the principles of Good
Corporate Governance (GCG) in the aspects of
business and corporate Management at all levels
with IT support.
To realize the commitment of GCG implementation
and Integrity Pact, Jasa Marga has been consistent
in managing procurement process and partnership
using e-Tendering system through the application of
Electronic Procurement System (Sistem Pengadaan
Secara Elektronik-SPSE)/eProcurement, which
minimizes physical contact between suppliers/
partners with committee since the entire Processes
of Tender and negotiation Are computer-based;
hence ensuring fair and transparent process.
The benefits among others include fast tender
process, decision on candidates of tender
participants electronically in accordance with
requirements, selection of winner electronically as
well as other benefits in relation to improved quality
of process, fairness of price, justice, transparency
and intervention prevention.
e-Procurement is the process of goods/services
procurement conducted electronically and web/
internet-based, using the facility of communication
and information technology encompassing
electronic general tender organized with electronic
procurement service (Layanan Pengadaan Secara
Elektronik – LPSE).
In line with Decision of Directors No. 149/KPTS/
DIR/2013 dated 30 August 2013, through General
Affairs Division, LPSE is created with the assistance
of Government Goods and Services Procurement
Policy Agency (Lembaga Kebijakan Pengadaan
Barang/Jasa Pemerintah-LKPP). The Company
deems not only does e-Procurement increase
transparency, but also improve efficiency as price
and cost of transaction is lower, and procurement
cycle is shorter; hence preventing corruption while
boosting work productivity.
INTEGRITY PACT OF BUSINESS PARTNERSThe Company makes it compulsory for vendors and
business partners to sign Integrity Pact in relation to
the procurement of goods and services.
Integrity Pact of Jasa Marga Individuals
In every process of goods and services procurement,
the Company also requires that Jasa Marga
Individuals sign Integrity Pact to show that there
is no conflicting interest and that transparency is
implemented in the process of procurement of
goods and services.
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Governance of Information TechnologyJasa Marga is committed to always apply the
practices of Corporate Governance (GCG) with
high quality and standards that is the mandate of
the Regulation of the Minister of State Enterprises
No. PER-09/MBU/2012, which states that “SOEs are
required to implement the company’s operations
by adhering to the principles of good corporate
governance, namely Transparency, Accountability,
Responsibility, Independence and Fairness”. GCG
is more than that. The Company realizes that the
obligation to implement the Company’s good
corporate governance needs to be supported
by the application of Information Technology
Governance (IT Governance) into the business
processes of the Company.
Given that the IT governance is a derivative
of the GCG and one indicator of success GCG
implementation is with the implementation of
IT governance, the implementation of good IT
governance can be done well if the organization
has implemented GCG well. This is why the initiative
of the Company to carry out the assessment
on the level of maturity (maturity level) of IT by
cooperating with an independent agency.
The assessment is done by using COBIT as a
framework developed by the IT Governance
Institute (ITGI). The existing processes in COBIT
framework covers Plan and Organization; Acquire
and Implement; Deliver and Support; and Monitor
and Evaluate. Based on the above approach,
the results of the assessment of information
technology governance in the form of assessment
of IT governance maturity level Jasa Marga with
a total score of 3.02 out of a maximum score of
5. Achieving a total score of maturity level of IT
governance Jasa Marga is compliant in the PER-
02/MBU/2013 that the target maturity level of IT
governance of SOEs in the next 5 years is at least 3.
Furthermore, the Company plans to construct
several stages of refinement Maturity Level
Improvement Plan Jasa Marga, which aims to
identify the most potential IT processes to be
developed to support the IT strategy and business
strategy forward with more optimal, and then
regularly reviews the implementation result of the
improvement.
External AuditorThe function of independent supervision for the Company’s financial aspect is carried out by implementing
External Audit conducted by public accounting firm. Public Accounting Firm HLB Hadori Sugiarto Adi &
Rekan has audited the Company’s financial statements for 3 periods of financial years in a row (2009-2011).
The year 2012 is the first period for Public Accounting Firm RSM Aryanto, Amir Jusuf, Mawar & Saptoto to
perform audit of the Company’s financial statements, and the year of 2014 is the last financial statement
audit report on the Company.
The Company's External Auditor 2010-2014
Year Public Accounting Firm Contract (Rp) Implementing Partner
2010 HLB Hadori Sugiarto Adi & Rekan 660,557,500 Drs. Hartono, Ak., CPA
2011 HLB Hadori Sugiarto Adi & Rekan 1,065,000,000 Drs. Hartono, Ak., CPA2012 RSM Aryanto, Amir Jusuf, Mawar & Saptoto 1,622,500,000 Saptoto Agustomo2013 RSM Aryanto, Amir Jusuf, Mawar & Saptoto 1,245,750,000 Saptoto Agustomo2014 RSM Aryanto, Amir Jusuf, Mawar & Saptoto 1,452,000,000 Saptoto Agustomo
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AUDIT OF FINANCIAL STATEMENTS OF FINANCIAL YEAR 2014For the purpose of auditing the Financial Statements
of the Company and its Subsidiaries, the Company
has appointed a public accounting firm that is
registered at Bapepam-LK, i.e. Public Accounting
Firm RSM Aryanto, Amir Jusuf, Mawar & Saptoto.
The appointment of the said public accounting firm
has been decided at GMS on 11 March 2014 based on
the recommendation of the Board of Commissioners
of the Company.
The scope of Audit conducted by Public Accounting
Firm RSM Aryanto, Amir Jusuf, Mawar & Saptoto
includes audit of the Company’s Consolidated
Financial Statements Financial Year 2014 and
Financial Statements of Partnership and Community
Development Programs of the Company for
Financial Year 2014.
PROCESS OF APPOINTING ExTERNAL AUDITORThe appointment of External Auditor was carried
out through the following mechanism:
1. Audit Committee evaluated Public Accounting
Firm.
2. Audit Committee reported the Procurement
of the Service of Public Accounting Firm
for Financial Year 2014 to the Board of
Commissioners.
3. Board of Commissioners informed the Directors
by letter of the Board of Commissioners No.
DK-0035/II/2014 dated 21 February 2014 on
Decision of Public Accounting Firm to Perform
General Audit of PT Jasa Marga (Persero) Tbk for
Financial Year 2014.
4. Board of Commissioners proposes to GMS to
approve the appointment of Public Accounting
Firm.
OTHER SERvICESThe party appointed by the Company as External
Auditor does not provide other services other
than audit services on the Consolidated Financial
Statements and Financial Statements on PKBL. The
total cost incurred for the audit of the Consolidated
Financial Statements 2014 was Rp 1,452,000,000
(one billion, four hundred and fifty-two million
Rupiah) including VAT and excluding Out of Pocket
Expenses (OPE). KAP RSM Aryanto, Amir Jusuf,
Mawar & Saptoto who was appointed to perform
the audit has completed their work independently
according to professional standards of public
accountants and employment agreement as well as
the scope of the audit that has been set. The time
to carry out the audit started since the contract was
signed by the Parties until 31 January 2014.
Structure of External Auditor Team at Jasa Marga in 2014
DirectorSaptoto Agustomo
Implementing PartnerLeknor joni
Endang Pramuwati
quality Assurance ServiceDedy Sukrisnadi
Independent PartnerAmir Abadi jusuf
Team LeaderDewi Novita Sari
Auditor and Compliance AuditorRahmat, Resti Anggretasari, Edi Riyanto, Andre Revindo, Muslim Sahputra, veronica Hutajulu,
Liffi Ferineti, Eric Steddy, Dian Fikri, Arief Prima Raharjo, karina Ulo
Tax SpecialistFelix T. Purba
IT SpecialistBilly Eduardo
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EDUCATION PROGRAMS
ORIENTED TO TOLL ROAD MANAGEMENT
ACTIvITIES
DEvELOPMENT OF NEW AND
RENEWABLE ENERGY WHILE PIONEERING
POLLUTION PREvENTION - INDONESIAN GREEN
AWARD (IGA) 2014 CONSUMER PROTECTION
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Jasa Marga focuses its educational programs that are oriented toward toll road operational activities as part of its corporate social responsibility
Corporate Social Responsibility
General Strategies and PoliciesAs a company engaged in toll road infrastructure,
the Company plays a role in stimulating the
economic development and cultural activities
in its operational areas. Therefore, in order to
support the sustainability of the Company’s
business, which is oriented to the economic, social
and environment aspects, the Company continues
to carry out sustainable activities as manifestation
of the Company’s social responsibilities which
bring about positive implications and reduce the
negative impact on the above three aspects.
In concrete form, the social responsibility activities
of the Company are based on the triple bottom
line, namely people, planet, and profit. In 2014,
the Company focused the social responsibility
activities on educational programs about the toll
road to variety of stakeholders.
The basis of the implementation of the Social
and Environmental Responsibility (Tanggung
Jawab Sosial and Lingkungan/TJSL) of the
Company refers to the Law No. 40 of 2007 on
Limited Liability Company, and the Indonesian
Government Regulation No. 47 of 2012 on Social
and Environmental Responsibility of a Limited
Company. In addition, the Company also complies
with other laws and regulations.
In realizing its commitment, in 2014, the Company
implemented various TJSL activities that
encompass environmental conservation program,
labor-related programs, health and safety, social
and community development programs which
include partnership and empowerement of the
community’s economic livelihood, development of
facilities infrastructure for the community, disaster
relief and community aid programs, and programs
that are related to the responsibility to consumers.
The Company also provides educational programs for
stakeholders as part of social responsibility, starting
from safety driving, ‘Jasa Marga Goes to Campus’
program, up until education on clean tollroad
environment through its partners as ambassadors of
the Company in their respective communities.
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Ecological ResponsibilityThe Company realizes that business activities
that are conducted by the Company affect the
environment, both environment surrounding the
head office as well as around the operational areas.
Therefore, the Company proactively nurtures the
environmental responsibility culture not only to
employees but also to the general community.
This is done in order to mitigate the environmental
impact of the Company’s activities in developing,
constructing and managing toll roads, in addition
to supporting national programs that are related
to the environment. Efforts to increase the positive
impact and reduce the negative impact of these
business activities continue to be the focus of
major improvements undertaken by the Company.
POLICIESIn carrying out activities related with environment,
the Company refers to the applicable laws and
regulations, including:
• Law No. 32 of 2009 on Protection and
Environmental Management.
• Government Regulation No. 27 of 2012 on
Environmental Permit.
• Decree of the Minister of Environment No.
45 of 2005 on Guidelines for Developing an
AMDAL.
• Board of Directors Circular Letter No. 18/
SE/2010 on Energy Saving and Environmental
Preservation, which covers:
1. Energy savings through the use of new
technologies that can reduce energy
consumption.
2. The use of products that refer to the
eco products (environmentally friendly
products).
3. Preparing the number of trees to be
replanted in every project activity.
4. Planting trees elsewhere to replace trees
that have to be cut down.
• Board of Directors’ Stipulation No. 165/
KPTS/2013 on Guidelines for Environmental
Management System (EMS) which are aimed
at preventing pollution and/or environmental
damage surrounding the Company’s business,
maintaining cleanliness and preservation of
the environment.
ACTIvITIES CARRIED OUTThe Company’s concern for the environment
begins from the planning stage of the toll road
development, in which the Company pays
attention on the environmental management
through the implementation of AMDAL in the new
toll road project.
In order to preserve and maintain the quality of
the environment at all toll roads that have been
in operation, the Company through branches and
subsidiaries have implemented the Environmental
Monitoring Plan (RPL) program and Environmental
Management Plan (RKL) on toll roads that are
already in operation.
The seriousness of the Company on environmental
management is recognized by the community
with the presentatio of Indonesian Green Awards
(IGA) 2014, the category of the development of
renewable energy and pioneering activities on
pollution prevention.
The performance and the Company’s efforts are
also reflected by the inclusion of the Company
in SRI indices, issued by the KEHATI Foundation,
which refers to the procedures for Sustainable
and Responsible Investment (SRI), called SRI
Index KEHATI. This index was formulated by
considering business activities in connection with
the awareness on the environment, corporate
governance, community involvement, human
resources, human rights, and business conduct
and business ethics that are in tune with the
international standards.
Other activities carried out in 2014 as
manifestation of the responsibility to the
environment are as follows:
1. The use of PJU (road light) lamp using LEDs,
for electrical energy savings at as many as
7,004 places.
2. Reforestation of tollroad as an effort to
mitigate the environmental impacts by
planting more than 127,000 trees that have
been distributed to be planted around the
Company’s tollroads in 2014. The types of
trees that were planted are, among others,
mahogany, tamarind, acacia and other trees.
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3. Public campaign to the community about the
cleanliness of the environment in accordance
with the Circular Letter issued by the Director
of Operation No.: 18 / SE-DIR/2011 dated
November 30, 2011 in order to maintain the
environment in the area along the toll road
operations. The familiarization of the program
was undertaken when delivering the assistances
to the Company’s partners (Mitra Binaan).
4. Planting and the conservation of bintaro tree
conducted by the Company’s subsidiary
PT Jalantol Lingkarluar Jakarta as much as
3,000 trees.
5. Launch a campaign to familiarize the Decree No.
165/KPTS/2013 on Guidelines for Environmental
Management Systems through education and
training for employees.
These activities are manifestation of the contribution
of the Company on nature preservation, which brings
about positive impact on the environment and helps
resolves global warming and climate change.
IMPLEMENTATION OF ENvIRONMENTAL MANAGEMENT SYSTEMIn 2014 the Company has started to carry out
inspections on environmental management system at
the Company’s branches and subsidiaries. The aim of
the inspections is to identify environmental aspects
and environment impacts of the Company’s operation
and evaluate the implementation of the environmental
management system. This has been carried out at
five sampling locations, namely : the Jasa Marga head
office, Jakarta-Tangerang Branch , Purbaleunyi Branch,
CTC Branch and PT Jasamarga Bali Tol.
While the training activities related to environmental
management system has been attended by 30
representatives from all branches as well as some
business units of the Company’s head office. The
training covers awareness of ISO 14000, emergency
drills and B3 waste handling.
FINANCIAL IMPACT OF THE ACTIvITIESIn order to optimize the implementation of
environmental management programs and activities,
the Company has allocated funds for environmental
management. In 2014, the Company has allocated
funds for environmental management amounting Rp
31.23 billion.
ENvIRONMENTAL CERTIFICATION The ISO 14000 environmental certification has been
applied at the Jakarta-Tangerang Branch. Other branches
have also implemented the environmental management
system, however they are not certified yet.
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Labor and Occupational Health & Safety ResponsibilityThe concept of employees as human capital for
the Company indicates that the employees are
important part for the development of the Company
going forward. The Company gives attention and
strong commitment in terms of Employment and
Occupational Health & Safety. It can be seen from
monitoring the effectivity of works periodically
and making changes on policies, programs as well
as providing employee benefits to ensure that
this (employment, occupational health & safety)
is implemented properly so that employees can
contribute to the optimum and maintain the
existence of the company.
EMPLOYMENT
PolicyWith the new paradigm, namely considering Human
Resources (HR) as Human Capital, the Company
puts HR as subject that must be managed properly
so that they can become capital to improve the
Company’s business performance in the long run in
a sustainable way.
The Law No. 13 on Employment becomes a reference
for all employment policies of the Company to
ensure that it complies to all applicable laws and
regulations and minimize the violation of human
rights in the employment relationship.
The optimization of the management of human
resources is implemented by the Company by the
following policies:
1. Assure compliance with employment
regulations.
2. Uphold the rights of employees.
3. Respect for gender equality and carrier path.
4. Provide programs to enhance hard and soft
competence.
5. Increased the utilization of Information
and Communication Technology (ICT) in
administration and HR services, which has
encouraged employees to change the way
they work to be become more efficient and
productive.
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Compliance to the Employement Laws and Regulations
A. Managing Relationship between Employees and Management
The relationship between employees and the
Management of the Company has been nurtured
well. The Employees Union of Jasa Marga (SKJM)
is an organization which is entitled to represent
the employees in communicating with the
Management and have actively involved in the
PKB negotiation with the Management.
B. Employment Relationship1. Formation, placement, transfer and employee
development (Equality in HR Recruitment)
The HR recruitment of Jasa Marga is
focused on regeneration of leaders, which is
implemented through competency-based carrier
management.
The principles of competency-based carrier
management in the Company is as follows:
a. Openness
The opportunity to move to another carrier
path and ensure that vacancies are open to
all employees in accordance with applicable
regulations.
b. Selective
Carrier switching is carried out in accordance
the ordinances and procedures applied by the
Company in order to get the best candidate.
c. Motivation
Placement is done by considering the needs
of the Company and motivate employees to
advance their carrier.
d. Non-discriminatory
Every employees have the same carrier
opportunities without considering the ethnicity,
religion, gender, age and disability. As for those
who are experiencing permanent disability, the
condition of workplace and the type of work that
suits them still need to be taken into account.
2. Gender and Employment Equality
Jasa Marga does not have internal employement
policy which distinguishes employees based on
gender. All regulations are applied consistently
and equally to the whole employees without
distinguishing their gender. Similarly, the
employment opportunities that are offered
apply to all employees.
3. Competencies Development
Strengthening human resource competencies is
done through conducting training and education
in order to develop the employees’ soft skills
and hard skills competence, both skills that are
directly or indirectly related with the strategic
business and operational of the Company. The
improvement programs and competency training for
employees are currently organized through the the
establishment of Jasa Marga Development Center
(JMDC).
4. The career management system and talent
management system
The movement of employees carrier either in the
form of promotion or rotation increases in 2014
compared to the year of 2013. The year of 2014 was
a transition time in the implementation of Carrier
Management System, by which the Company
improved the carrier management system to a
competence-based carrier system with a clustering
position approach. The new carrier management
system was implemented based on the Directors’
Stipulation Number: 100/KPTS/2014 dated June 16,
2014, which will be implemented from 2015.
5. Employees Rewards
On regular basis, Jasa Marga gives appreciation to
employees who make achievement in supporting
the operational activities of the Company (through
a competition for the Best Operational Officer),
employees who have the highest loyalty to the
Company (by giving a placard). The award was
aimed at motivating employees to contribute more
in the future.
C. Working Days and Working Hours To avoid excess exploitation of labor, the Company
has determined working hour limits for workers.
Working hours are adjusted with the location of
the working area and the nature of the work. The
Company applies normal working hours and working
in shifts.
Working days for employees who are not affected
by rotation system are 5 days with a working time
of 8 hours a day and a maximum of 40 hours per
week. Whereas employees who are affected by the
rotation of work (shifts) are set for 7 hours a day and
a maximum of 40 hours per week.
In the case of employees working exceeds the
working hours that are specified, then the employee
will be given compensation in the form of overtime
wages in accordance with legislation.
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F. Welfare1. Social Security for Employees
The Company registers all employees
to become participants of the Workers’
Social Security scheme, in accordance
with the applicable laws and regulations.
2. Group Insurance Program for Employees
Exposed to High Risk Operations
Given the magnitude of the risk of
employees working in operational works
in the street, the Company provides
additional benefits by registering
employees, whose duties and functions
force them to be in the field, in the
Accident Insurance Program.
3. Pension Plan
Jasa Marga employees are covered
by the Fixed Benefit Pension Plan
(Program Pensiun Manfaat Pasti/PPMP)
and Fixed Contribution Pension Plan
(PPIP). The PPMP is managed by the
Pension Fund of Jasa Marga (DPJM),
established by the Company. The PPMP
Program covers employees who have
begun working in the Company prior to
July 1, 2012. While PPIP is managed by
Pension Fund Financial Institution (Dana
Pensiun Lembaga Keuangan/DPLK).
Some employees who have who started
working in the Company since July 1, 2012
have been registered at PPIP.
4. Retirement Program
This program is given to employees in
which benefits are given when they stop
working at normal retirement age. They
are entitled to receive 24 x PhDA, while
employees who retire prior to normal
retirement age and before entering the
retirement age through acceleration
path will receive benefits proportionally
in accordance with the rules of the
Company.
5. Old Age Security program (JHT) BPJS
Employment
The Company registers all employees at
the Old-Age Security Program (JHT) of
BPJS Employment. The monthly dues of
JHT are calculated based on proportion
of income, in which the employee pays
2% and the employer covers 3.7% of the
dues.
D. Employee Holidays and Leaves The Company provides holidays and annual
leave, including weekly day-off, national public
holidays, annual leave, sick leave, maternity
leave, leave because of important reasons,
joint-holidays and long break.
E. Employees Remuneration The Company understands that the
compensation and benefits given by the
Company influences the favorable performance
and turnover of employees. Therefore the
Company provides competitive remuneration
package for employees consisting of a monthly
salary, various allowances and facilities,
among others pension and health cover in
accordance with the applicable regulations
and are regularly evaluated so that the salaries
condition of employees are in accordance with
the market price.
1. Payroll
Appropriate monthly work compensation.
The lowest compensation level for
employees’ service provided by the
Company is Rp3,608,000. This amount
is 180% greater than the minimum
wage level for the respective region.
The provision of compensation and
promotion for competent employees are
given without distinguishing their gender
and SARA (ethicity. Religion, Race and
societal groups).
2. Religious Allowance
As a form of appreciation for employees
and evidence of diversity in the Company,
all employees religious festivity allowance
(Tunjangan Hari Raya) is granted in
accordance with the religion of the
employee.
3. Performance Incentives
The Company provides performance
incentives in exchange for the
performance of employees in their
respective posts. Performance
incentives consist of Traffic Incentive
for employees working in operational
aspect of the Company as a bonus
award for the achievement of the
Company’s performance, and Long-Term
Performance Incentive.
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6. Health Insurance
Health insurance benefits are in the form
of health facilities which will be received
during retirement age. With these
retirement benefits, the retirees will feel
comfortable about the health expenses
that they may need at anytime.
G. Employees Mentoring The Company ensures that all employees both
superiors and subordinates determine the
obligations and responsibilities respectively to
avoid breaching of disciplines.
Activities Carried Out/Applied1. Provision of appropriate employment
compensation. Jasa Marga understands that
compensation and benefits that are granted by
the Company influence the performance and
turnover of employees. Therefore, the Company
strives to provide the best compensations that
exceed the provisions of the applicable laws
(UMR), by taking into account the Company’s
ability and without burdening the employees
with excess working hours. The lowest
compensation provided by the Company is Rp
3,608,000. The minimum salary is 180% greater
than the minimum wage in the relevant area.
2. The Company supports the establishment of a
number of associations and unions which are
intended as employees forum for channeling
the aspirations and arts talent and sports such
as LKS Bipartite, Jasmapala, and Baporseni
(Sports and Art event).
3. Transparency and Equality in HR Recruitment
The Company announces the recruitment
and selection of new employees program
through the official website of the Company
namely www.jasamarga.co.id, cooperation with
newspapers that are circulating on national
scale, state enterprises websites, the official
twitter of the Company, online media, posters
and career development programs of various
leading universities in Indonesia. The Company
upholds the principle of equality where the
applicants come from a variety of ethnic,
region, religion, race and gender.
4. Signing of the 2014-2016 PKB which contains
agreements between the Management with the
Employees Union of Jasa Marga (SKJM) on July
23, 2014.
5. Development of Competencies
The educational and training programs are
conducted by Jasa Marga Development Center
(JMDC). Throughout 2014, JMDC has facilitated
education and training activities attended by
a total of 17,376 persons, with training based
on the category of operational and non-
operational totaling 9,715 participants.
6. Gender and Employment
Policies in terms of employment, both staffing
and placement of employees as well as
carrier development in the Joint Employment
Agreement (PKB). Jasa Marga fills the
Company’s positions and develop employees
carrier transparently without discrimination
(gender, race, ethnic, religion), by prioritizing
internal sources of the Company by considering
the employees performance, ability and
competence.
7. Conducting trainings to improve the skills
of employees who are entering the Pre-
Retirement Period (MPP).
8. The provision of compensation and promotion
based on the employees’ competence without
distinguishing their gender and race.
9. Employee Satisfaction Survey
The Company regularly conduct surveys on
employee satisfaction, so that the Company
can receive direct feedback from employees.
Through this survey, it is expected that each
employee of Jasa Marga may give his or her
views on various aspects that determine
the level of job satisfaction and can deliver
advice and input to the Management Services
related with general issues to improve level of
satisfaction and productivity of Jasa Marga’s
employees.
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In 2014 the results of Engagement Ratio Index (ERI) was 2.17. The ERI score in 2014 was better
compared to the year of 2013 (ERI score = 1.97). ERI scores from year to year has increased as shown in
the following table:
No Tahun Skor
1. 2013 1.97
2. 2014 2.17
9. Employees Turnover
To keep the turnover rate of employees, the Company provides equal opportunites to the entire
employees in developing their carrier path and competitive remuneration package in the form of
benefits and services received by the employees. So far, the employee turnover rate of Jasa Marga is
very small. This can be seen from the number of employees who resigned from the Company. In 2014,
there were only three employees who resigned.
Employees Turnover 2010-2014
2010 2011 2012 2013 2014
Number of Employees who have resigned 1 2 1 2 3
Number of Employees 5,303 5,154 5,075 4,883 4,691
Percentage (%) 0.02 0.04 0.02 0.04 0.06
Awards ObtainedWith variety of efforts to transform the system, in
2014, the Company received an award from several
institutions such as Index Human Capital Study
Award 2014-The Best for Human Capital Initiative,
HR Excellence Award 2014 – in the category of
HR Transformation and Reward Management with
Good grade, and 2nd Business Review as The Best
Corporation for Learning Organization of The Year.
Future targetsThe long-term target of the Company is to
prepare cadre employees who are ready to lead
and developing the Company’s business in the
globalization era. Efforts undertaken by the
Company are, among others, providing scholarships
for S2 and S3 level and leadership training with a
focus on global acumen.
Financial Impact of Employment ActivitiesThe Company continuously performs decent
employment practices to continue to maintain
employees as a major asset. In an effort to perform
this labor practices, the Company has spent Rp 1.031
billion throughout the 2014.
OCCUPATIONAL HEALTH AND SAFETY
PoliciesThe Company is quite serious about implementing
the Management of Health and Safety System
for employees through policies, targets and K3
governance structure and conducting a review
every year. Jasa Marga’s commitment to implement
occupational health and safety in the working
environment is embodied in the set of corporate
policies, which has been arranged in the Board of
Directors’ Stipulation No. 162/KPTS/2010 September
30, 2010 on Manual System of Occupational Health
and Safety Management (SMK3) as well as the
Guidelines for Occupational Health and Safety at
Project Construction Company and Circular Letter
No.20/SE-DIR/2010, dated August 3, 2010 on Safety
and Occupational Health (K3).
With the Government Regulation No. 50 in 2012
on the Application of Occupational Health and
Safety Management System which requires the
Company to implement the Occupational Health
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and Safety Management System (SMK3), then in
2014 the Company review the policy and manual
of the existing Occupational Health and Safety
Managemetn System and began implementing it
in 2015.
The Occupational Health and Safety Managemetn
System aims to protect employees, customers,
assets, partners and the environment from
potential hazards that may occur. Since 2011 the
K3 management has been focused to achieve zero
accident rate. The program is organized based on
the Employment and K3 rules of the local Manpower
Department Office and are evaluated and assessed
each year.
Dasar Pelaksanaan Sistem Manajemen Keselamatan dan Kesehatan KerjaBasis of the Implementation of Occupational Healthy
and Safety Management System
The basis for the implementation of Occupational
Health and Safety Management Systems (SMK3) in
the Company refers to the regulations as follows:
a. Law No. 01 of 1970 on Safety at Work.
b. Law No. 13 of 2003 on Employment:
• Article 86, that a worker/labor has the
right to obtain protection on occupational
health and safety.
• Article 87, that every company is required
to implement the Occupational Health
and Safety Management System, which
is integrated the company’s management
system.
c. The Indonesian Government Regulation No. 50
of 2012 on the Implementation of Occupational
Health and Safety Management System.
d. Occupational Health and Safety (OHSAS)
18001: 2007.
e. Decision of the Board of Directors No. 129/
KPTS/2010 dated July 22, 2010 about the
Quality and K3 Policy, Quality Management
Manual and Guidelines for Sustainable
improvement within PT Jasa Marga
(Persero) Tbk.
f. Decision of the Board of Directors No. 162/
KPTS/2010 on Manual of the Occupational
Health and Safety Management System (SMK3)
and Guidelines for Occupational Health and
Safety fo the Project Construction Company
within PT Jasa Marga (Persero) Tbk.
g. Board of Directors’ Circular Letter No. 20/SE-
DIR/2010 concerning Occupational Health and
Safety (K3).
h. Regulation of the Minister of State Enterprises
No. PER01/MBU/ 2011 on Good Corporate
Governance (GCG) in State Owned Enterprises
(SOE):
• Article 36, the Board of Directors shall
ensure that the assets and business
premises as well as facilities of other
SOEs, comply with the regulations with
regard to occupational health and safety
as well as preservation of environment.
Implementation of Occupational Safety and Health Management SystemIn accordance with the Joint Employment
Agreement (Perjanjian Kerja Bersama/PKB)
between the Company and the Employees Union
of Jasa Marga for 2012-2014 period, it was agreed
to implement the Occupational Health and
Safety integratedly with the Company’s existing
management system. The implementation of Health
and Safety activities were conducted through
various programs and activities, which encompass
efforts for preventive, treatment (curative), health
maintenance and health recovery (rehabilitation).
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Governance Structures of Occupational Health and Safety Management SystemIn accordance with Government Regulation No. 50 of 2012 on the Application of Occupational Health and
Safety Management System, the Company formed an Organizing Committee Advisory for Occupational
Health and Safety (P2K3) which monitors the implementation of K3 in the Company.
Organizational Structure of P2K3 Branch
ChairmanPresident Director
SecretaryVP Risk & Quaity
Management Division
Members;1. All vP
2. General Manager3. Project Leader4. Safety Officer
5. SKJM Representative
ChairmanGeneral Manager
SecretaryGeneral K3 Expert
Members:1. All Deputy General
Manager2. All Managers3. Safety Officer
4. Representative of SKJM
Organizational Structure of P2K3 Corporate
Program Keselamatan dan Kesehatan Kerja Occupational Safety and Health Program
Various activities were carried out related to K3
program during 2014, including:
1. Enhancement of K3 Personnel Competencies.
To ensure the work environment is safe, it
needs to be supported by personnels who
understand the safety and occupational health.
Jasa Marga is committed to have Safety
and Health Experts in every working unit.
Experts on Health and Safety are technical
personnels who have special expertise from
outside the Labor Department to monitor
compliance on Safety Law. Occupational
Health and Safety experts have the authority
to enter the workplace in accordance with
the scope of work, request information and
or information regarding the implementation
of the requirements on health and safety at
workplace. Based on the appointment, the
experts monitor, inspect, test, analyze, evaluate
and provide requirements as well as conducting
safety and health coaching. In order to comply
with the provisions, in 2014, the Company
has carried out training at the Head Office,
Branches and Subsidiaries officies, as follows:
Competencies Total
General K3 Experts 4 People
Re-certificaiton of Junior K3 Experts
10 People
SMK3 Auditor 25 People
K3 Lift Technicians 4 People
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K3 Competencies of Employees at the Head Office, Branch Offices, Project Offices and Subsidiaries in 2014
Competencies Well-Trained Retired/Post Employment Active
SMK Auditor 25 0 25General K3 Expert 54 2 52Expert on K3 Construction 39 4 35Safety Officer 56 3 53Hiperkes 2 0 2K3 Lift Technician 4 0 4
TOTAL 180 9 171
Distribution of Employees with K3 Competencies in 2014
Unit/Branch/Subsidiaries General K3 Expert
Expert on K3 Construction
Safety Officer Hiperkes SMK
Auditor
Head Office ü ü ü ü ü
Jagorawi ü ü ü û ü
Cawang-Tomang-Cengkareng ü û ü û ü
Jakarta-Cikampek ü ü ü û ü
Jakarta-Tangerang ü ü ü û ü
Purbaleunyi ü ü ü û ü
Semarang ü ü ü ü ü
Palikanci ü ü ü û ü
Surabaya-Gempol ü ü ü û ü
Belmera ü ü ü û ü
PT Jalantol Lingkarluar Jakarta ü ü ü û ü
PT Jasamarga Pandaan Tol ü ü û û û
PT Trans Marga Jateng ü ü û û û
PT Marga Trans Nusantara ü û û û û
PT Tranmarga Jatim Pasuruan ü û û û ü
Note: ü: availableû: not yet available
2. Socialization of Regulation on Occupational
Health and Safety
In accordance with the regulations related
with occupational health and safety, the
Company obligates the use of safety belt and
safety helmet, provision of Personal Protective
Equipment (PPE) in service vehicles, the use of
PPE by officers working on the tollroad, safety
regulations at toll gates, installation of K3 signs
and stickers, safety induction and K3 briefing
prior to the start of daily working activities at
all branches.
All branches routinely conduct socialization
so that the accidents at workplace can be
prevented. In the year, in addition to the
routine internal socialization program, the
Company also familiarizes the employees with
BPJS program.
3. OHSAS 18001: 2007 Certification and SMK3
Certification
One of the Occupational Health and Safety
Management System (K3) which is widely adopted
internationally is the OHSAS. OHSAS 18001
(Occupational Health and Safety Management
System 18001) was issued by BSI (British Standard
Institution) in 1999 and became effective since
April 15, 1999. This standard was made and
formulated jointly by 13 standardization and
certification bodies from various countries. In 2010
the Company has successfully met the OHSAS
18001: 2007 certification standards in all branches.
Until 2014, all branches are still actively renewing
the certification, which demonstrates that the
implementation of K3 in the Company has been
quite satisfactory, especially at the branches with
high risk of K3, in particular in the operational
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unit. The implementation of K3 Management
System is in line with PP 50 of 2012, which has
been implemented by the Company, however
the SMK3 certification has not been done yet.
4. Cross Audit of SMK3 is in line with PP 50 of
2012
To determine the level of conformity of the
implementation of K3 at the branch offices with
the PP 50 of 2012, the Company has conducted
Cross Audit by the auditor personnel from
other branches who have received training on
SMK3 Auditor from the Manpower Ministry.
This was done to ensure transparency and
objectivity of the audit results.
Cross audits was conducted in 2014 at two
branches (Jagorawi and Jakarta-Cikampek).
Based on the audit results with 166 criteria, a
conformity percentage of 75% (Satisfactory)
was obtained for Jagorawi branch and 89%
(satisfactory) for Jakarta-Cikampek branch.
The Cross Audit is planned to be implemented
annually on an ongoing basis, therefore
although the branch has not been certified
with SMK3 from the Manpower Ministry, its
application has reached satisfactory level.
5. Monitoring and evaluation of the
implementation K3 activities in 2014:
a. Evaluation of Work Accident Cases at
Cawang-Tomang-Cengkareng, Jakarta,
Cikampek, Purbaleunyi, Jagorawi and
Belmera branches.
b. Evaluation of the Implementation of K3 at
the Company’s branches.
c. K3 Risk Inspection at Jasamarga Bali Toll.
d. Evaluation of workplace accident data of all
branches and provide recommendations for
improvement.
e. Evaluation on HIRAC which is carried out by
branches
6. Completion of SMK3 database applications.
The application of K3 database is expected to
facilitate branches and subsidiaries in preparing
a report on SMK3 so that the SMK3 data of
branches and subsidiaries of the Company is
presented with current (up to date) data. This
application will also facilitate the Company
in monitoring the SMK3 data and simplify
the Work Units, Branches and Subsidiaries in
obtaining data related with K3 Management
System. Reports containing in this database
application, among others, are:
a. Audit Report
b. Inspection Report
c. Report on Mismatch
d. SMK3 Performance Report
e. Accident Reports
f. Investigative Report
g. Reports on HIRAC
h. Emergency report
i. Other reports required to comply with the
laws.
7. K3L Benchmark
To develop and make a sustainable
improvement on policies and K3 Management
System and Environmental of the Company,
the Company took the initiative to learn from
best practices with a similar business through
benchmarking mechanism. Benchmark of
K3L was performed at Pelindo III (Persero)
– Surabaya, a State Owned Enterprise which
engages in the transportation sector with
business activities covering Provision and/or
Providing services.
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8. Facilities and Safety.
To ensure the safety and health of employees in the workplace, the Company requires empoyees
in the operational unit to wear Personal Protective Equipment (PPE) such as K3 Vest, Ear Plug,
Respirators, Eyeglass, K3 Hats, Safety Shoes, Gloves, Helmets, Raincoat, Body Harness, as elaborated
in the following table:
Equipments for Occupational Health and Safety of Employees
Fields of Operational Employees
OSH vest
Ear Plug Respirator Protection
GlassesOSH Cap
Safety Shoes Gloves Helmet Raincoat Body
Harness
Toll Collector ü ü ü
Traffic Service Officer ü ü ü ü ü ü ü ü
Rescue Officer ü ü ü ü ü ü ü ü
Ambulance Officer ü ü ü ü ü ü ü
Inspection Officer ü ü ü ü ü ü ü ü ü ü
b. Treatment (curative)
• Reimbursement of 80% for outpatient
costs can be done by the employee and
their families to cover costs for visiting
doctor, or nurses at hospitals, clinics, or
other places.
• Employees and relatives of the
employees who are hospitalized in
hospital can go directly to the hospital
and get class I medical treatment for
Grade E to 3 and medical treatment
class II for Grade 4 to 5 and Grade P
and M.
• Prenatal care and childbirth assistance
for every childbirth process is covered
by the Company with a maximum of 9
times.
• The company provides support in the
form of an USG (ultrasound diagnostic)
as many as 2 times unless there is an
abnormality of the pregnancy upon the
recommendation of a specialist.
• Medical Care and treatment, dental care
costs are reimbursed at a maximum of
80%.
9. Health Program
a. Prevention
• Basic vaccination to prevent diseases
for children of the employees.
• Periodic Health Test (UKB) once a
year in order to detect early illness of
employees.
• Providing additional Nutrition to
employees who are affected by work
rotation in the form of Milk to increase
the durability of their bodies.
• Spraying and fogging to kill mosquitoes
as an effort to prevent the spread of
dengue fever.
• The Company provides opportunities
to employees and families of the
employees to take part in the Family
Planning program.
• The Company conducts papsmear once
a year to detect the cancer earlier at
the uterus to women employees and or
wife of the employees.
330 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Level of Accident at Workplace
Year
At Workplace Employment Relation
Light Wound
Serious Wound Death Light
WoundSerious Wound Death
2012 5 2 1 3 5 02013 1 2 1 3 3 02014 4 0 2 0 2 0
Note:Accident at Workplace: Accident at workplace during working hourAccident related with Employment Relation: Accident when an employee goes to work and when returning from office
K3 Achievement In 2013, the Company received Awards for K3 Zero Accident for Palikanci branch and Surabaya-Gempol toll
road from Manpower Office of the Cirebon Regency Government and East Java Province.
In 2014, the Belmera Branch received K3 Award from Major of Medan, called “Companies With Zero Accident
on National Level” by the Minister of Manpower and Transmigration.
Zero Accident Award for Surabaya-Gempol Branch from the Governor of East Java
Zero Accident Award for Surabaya-Gempol Branch from the Governor of East Java
K3 Award of Medan Municipality for the performance of 2013/2014
Zero Accident Award for Belmera Branch from the Minister of Manpower and Transmigration
c. Maintaining Health (promotive)
• The Company conducted public lecture
periodically (public lecture on health
was done routinely every 3 months at
the Headquarter and branch offices, in
order to nurture healthy way of life.
• The Company provides opportunities to
involve in sport activities (for example:
Physical Fitness and Gymnastics (SKJ)
every Friday and other sport activities)
to increase stamina and health of the
employees.
d. Health Recovery (rehabilitative)
• Creating and installation of dentures
for medical purposes only apply to
employees who have worked in the
Company for at least 3 years, with a
maximum of 3 (three) dentures in one
year.
• Eyes Examination and the purchase
of eyeglass for employees upon
recommendation from doctor, is given
only to employees who have worked in
the Company for at least 3 years, and
only once in every 2 years.
• Medical aid is granted to employees
who have been working for at least 3
years and given once in every 3 years.
331PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Occupational Health and Safety CertificationThis is in line with one of the Company’s missions to carry out business activities based on the application
of the rules of Occupational Health and Safety correctly and consistently. The Company’s concerned on
safety is evident in the the international standard certification, OHSAS 18001: 2007 (on Occupational Health
& Safety Assessment Series), which is integrated with ISO 9001 for all branches starting from in 2010 and to
be renewed every 3 years.
OHSAS 18001:2007 Certification
No Unit/Branches Audit Agency Issued Date validity
Period Registration Number
1. Jagorawi Branch SGS 23-Mar-14 23-Mar-17 ID11/1102954096
2. Cawang-Tomang-Cengkareng (CTC) Branch
SGS 3-Mar-14 3-Mar-17 ID11/1102954092
3. Jakarta-Cikampek Branch SGS 31-Jan-14 31-Jan-17 ID11/1102954070
4. Jakarta-Tangerang Branch SGS 4-Jan-13 4-Jan-16 ID11/11029540165. Purbaleunyi Branch SGS 28-Dec-13 28-Dec-16 ID10/11029540546. Semarang Branch SGS 25-Oct-14 25-Oct-17 ID11/018827. Palikanci Branch 24-Sep-12 24-Sep-15 ID12/021808. Surabaya-Gempol Branch SGS 10-May-14 10-May-17 ID11/11029541229. Belmera Branch SGS 21-Sep-14 21-Sep-17 ID14/02870
Financial Impact of Health and Safety ActivitiesThe Company continuously carries out K3 practices to continue to safeguard employees as the main assets
of the Company. In order to implement the K3 practices, the Company invested a total of Rp 63.13 billion
throughout 2014.
Report on Social Responsibility
JASA MARGA’S COMMITMENT IN SOCIAL & ENvIRONMENT RESPONSIBILITIESJasa Marga is committed to continuously
improving the quality of its social and environment
responsibility program (TJSL). The Company
believes that the quality improvement of TJSL
program will give a positive impact to the business
growth in the coming years.
The sustainability of the social and environmental
responsibility programs always requires innovation
in the quality improvement program. The Company
does not stop in developing new programs which
can reach a wider community as well as continues to
renew programs that have brought about significant
impact for stakeholders.
In order to create a harmonious relationship
with stakeholders, the Company encourages
each employee of Jasa Marga to take part in the
sustainability social and environmental responsibility
programs.
SOCIAL AND COMMUNITY DEvELOPMENT As a toll road operator and a State Owned
Enterprise, the Company contributes to society
as part of stakeholders through involving in the
Corporate Social Responsibility (CSR) programs
which is managed by the Corporate Secretary
unit starting from 2014, while the Partnership and
Community Development Programs are managed
by the Community Development Program Unit
since 1992.
332 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Sources of funds for CSR programs is based on the
Work Plan and Budget Allocation (RKAP) which is
determined annually, while funds for Partnership and
Community Development Program come from the
Company’s Annual Budget which is considered as
cost, with a maximum of 2% of net income of the
previous year.
Partnership and Community Development
(PKBL) Program is managed by the Community
Development Unit, which is stipulated in:
a. Regulation of the Minister of State Enterprises
No. PER-05 /MBU/2007 dated April 27, 2007
on SOE Partnership Program with Small
Business. The program is implemented through
Community Development Unit Program.
b. Partnership and Community Development
Program (CSR) is set out in the Regulation
of the State Enterprises Ministry No. PER-
05/MBU/2007 dated April 27, 2007 on the
Partnership Program of SOEs with Small
Business and Environment Development
Program.
c. Regulation of the Minister of State Enterprises
No. PER-08 /MBU/2013 dated 10 September
2013 on the Fourth Amendment to the
Regulation of the Minister State Owned
Enterprises No: PER-05/MBU/2007 on the
Partnership Program of the State Owned
Enterprises with Small Businesses and
Community Development Program.
d. Decision of the Board of Directors 230/
KPTS/2007 on Partnership Program with
Small Business and Community Development
Program, to set programs and activities of the
Community Development.
TYPE OF PROGRAMS
Corporate Social Responsibility (CSR) Programs
1. EducationEducation is an important part in the
development of human character. This factor
has encouraged Jasa Marga to create education
programs as part of the CSR activities. As a
leading toll road operator in Indonesia, “Jasa
Marga’s role in providing education on safety
driving on toll roads has become a key in
creating comfort, smoothness and safety for toll
road users. The active role of PT Jasa Marga in
the field of safety driving education is reflected
in the distribution of the book entitled “Aku
Tertib berlalu Lintas” (I Follow Traffic Rules), as
many as 1,232 books in 2014 during variety of
sponsord activities, exhibitions and corporate
events other.
In addition to the safety of driving in the toll
road, PT Jasa Marga is also concerned about
the introduction of the toll road industry among
students through the program called “Jasa
Marga Goes To Campus”.
Jasa Marga Goes to Campus The Company routinely conducts sharing
knowledge activities through the Directors’
Teaching Program (2012), which was held by
each Director such as at SMA 17-Palembang,
SMA Hope 1-Medan, SMA Negeri 1-Kuta Selatan
Badung, Bali, SMAN 1 Suruh-Salatiga and SMA
Negeri 1-Boyolangu-Tulungagung.
"Jasa Marga’s role in providing education on safety driving on toll roads has become a key in creating comfort, smoothness and safety for toll road users"
333PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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jasa Marga Goes to Campus
Jasa Marga also became resources for public
discussion on the issue of toll tariff increase at
UIN Sharif Hidayatulah (2012) and Customers
Meeting at University of Indonesia (2013).
In 2014, the knowledge sharing activities of Jasa
Marga was designed through ‘Jasa Marga Goes
To Campus’ program, with the main target of new
toll road users. The main theme being raised is the
issue of “Understanding the Toll Road Industry”.
Jasa Marga Goes To Campus was held on March
19 to 26, 2014 at 5 (five) universities, as follows:
a. Bandung Institute of Technology on 19
March 2014 with Director for HR & General
Adminstration, Najib Muh Fauzan as speaker.
b. Bina Nusantara University on March 20, 2014
with Director Finance, Reynaldi Hermansjah, as
the speaker.
c. University of Indonesia on March 21 2014 with
Director of Operations Hasanuddin as the
speaker.
d. Universitas Siswa Bangsa Internasional on
March 24, 2014 with Director, Adityawarman, as
guest speaker.
e. Trisakti University on March 26, 2014 with
Director of Business Development, Abdul Hadi
Hs, as the speaker.
In these events, the Company shares the
knowledge with the students about toll road
industry in Indonesia. The Company also provides
educational assistance such as laptops, projectors
and camera. Total participants who have taken
part in those events reached 1,709 people.
Through ‘Jasa Marga Goes To Campus’ event, the
Company expects to improve the interest of the
students about toll road industry.
334 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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2. Social Care program on Homecoming for Free Together with Jasa Marga 2014As a form of social care to the communities
who will celebrate Lebaran in their hometown,
the Company held a program called “Free
Homecoming (Mudik) Together with Jasa
Marga 2014” which involved 808 participants,
consisting of:
• Workers who support the activities of
the Company (such as drivers, Office
Housekeeping Officers, Cleaning Service
Officers, Road Cleaning Service Officers,
Freelance Officers, Security Guards, and
Civilian Security Guards/Hansip) and their
families who are working at the Head Office,
Branches and projects of Jasa Marga.
• Local Communities around the Jasa Marga
toll roads who are in need.
• This event shows an effort active role of
the Company in reducing the number of
accidents when people are travelling to their
home town (Mudik) during Lebaran season.
In the event, the Company also educates
the participants about traffic rulings when
passing the toll roads to the bus crews
(Drivers and conductors).
The purposes of these activities are:
• To reduce the use of motorcycles for
homecoming trip.
• To establish a good relationship with the
Company’s stakeholders, particularly
community around the Company.
• To maintain public trust to the Company.
• To enhance the positive image of the
Company.
The destinations of the Free Homecoming
Program Together with Jasa Marga 2014
were several towns on the Java Island. The
Free Homecoming Together with Jasa Marga
program is planned to be also carried out in
the coming year considering the benefits and
positive responses from the participants.
In addition to the Free Homecoming Together with
Jasa Marga Program, the Company also provided
aids to the communities who were affected by
disasters through Jasa Marga Care Program.
Jasa Marga Care for Banjarnegara Landslide victimThe Company carried out a social care activity
for the landslide natural disaster victims in
Banjarnegara through Semarang Branch at
Jemblung sub-village, Sampan Village, Karang
Kobar Subdistrict, Banjarnegara Regency on
December 18, 2014. At the event, the Company
handed over 1,000 aid packages containing
mats and blankets.
335PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Jasa Marga Care for the Sinabung PeopleThe Company through Belmera Branch Office
provided assistance to the victims of the
Mount Sinabung eruption in the Perbaji Village
and Selandi Village, Tiga Ndreket Subdistrict,
Karo Regency which is about 3.5 km from
Mt. Sinabung, on Sunday, December 21, 2014.
Donations were in the form of staple foods such
as rice, cooking oil, cash, snack packages for
children, and eat together with local people.
Jasa Marga Care for Sinabung Victims program
is part of the Company’s caring to the affected
residents around the local branch offices, and
helping to ease their burden as well as providing
moral support as an empathy to residents
affected by disasters.
3. Jasa Marga Automotive Gathering to Meet CustomersAs an effort to improve service to toll road
users, the Company carried out an activity
called “Jasa Marga Automotive Gathering” in
cooperation with some of vehicle communities.
The number of participants reached 201
vehicles and 634 individual participants. The
participants gathered at the site start at Rest
Area 39 toward Cikampek.
The objective of Jasa Marga Automotive
Gathering is to encourage members of the
automotive communities as toll road users to
jointly build a culture of traffic discipline on the
toll road.
Apart from a means to disseminate information
about efforts of the Company to improve
services, the event was also utilized by
community members to give inputs to
Jasa Marga.
Partnership and Community Development Program
1. Partnership ProgramThe Unit of Partnership and Community
Development Program (PKBL) of PT Jasa
Marga (Persero) Tbk was established by
virtue of Board of Directors’ Stipulation No.
010/KPTS/1997, dated February 3, 1997. The
PKBL Unit was formed as an implementation
of the Stipulation of Minister of Finance of
the Republic Indonesia No. 316/KMK/1994 on
Guidelines for Small Business and Cooperative
Development through the Utilization of Portion
of State Enterprises Profit. The stipulation was
amended by the Regulation State Minister for
State Owned Enterprises No. 05/MBU/2007,
April 27, 2007 about Partnership Program of
State-Owned Enterprises with Small Business
and Community Development (PKBL), which
has also been amended by the Regulation
of the Minister of State Owned Enterprises
No. PER08/MBU/2013, dated September 10,
2013 about the Fourth Amendment of the
Stipulation of the Minister of State-Owned
Enterprises Number: PER-05/MBU/2007
about Partnership Program of State-Owned
Enterprises With Small Businesses and
Community Development.
The targets of the PKBL Unit’s activities are
small businesses, in this case the individual
or entity businesses and cooperatives
that have maximum annual turnover of Rp
1,000,000,000 or have assets a maximum of
Rp 200,000,000, - outside land and buildings.
The sources of funds to support the PKBL Unit
Activities are derived from:
a. Funds for Partnership & Community
Development Program are derived from the
Company’s budget which is treated as cost
at a maximum of 2% of previous year’s net
income (in accordance with the PER-08/
MBU/2013 dated September 10, 2013).
336 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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Mobile Library of PT Jalantol LingkarluarJakarta
As a form of responsibility to the
community around the toll road, PT Jakarta
Outer Ring Road (PT JLJ) launched a
program to educate the public through
the provision of mobile library. The mobile
library is one of the programs that can be
done to promote the culture of reading,
especially to children. In addition, the
mobile library is a form of knowledge
transfer efforts to the schools located
around the corridor area of the toll road.
There are several objectives to be achieved
in the implementation of the mobile library
namely:
• Stimulate the improvement and awareness
about reading activity as part of the culture.
• Nurturing communication and socialization
to the education/schools communities
around the corridors of the toll roads, in the
hope that Companys corporate image will
be positive.
• As a social responsibility that should be
shouldered by the Company in the area of
operation wherever the Company has the
operations.
The mobile library covers 11 play groups and
elementary schools around the operating area
of JORR. The mobile library provided 340
books for elementary schools.
337PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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PT Jalantol Lingkarluar Jakarta (JLJ) carried
out a reforestation by the side of JORR.
Since its inception in March 2014, at least
44 reforestation actions have been carried
out by planting 2,307 bintaro tree seedlings
and involving 765 participants. This action is
carried out as a form of the responsibility of
the Company over the impact of pollution
from the operation of toll roads, PT Jalantol
Lingkarluar Jakarta (JLJ) and as a form of
corporate social responsibility for clean air
requirements so that the environment around
the toll road is comfortable.
As widely known that the reforestation
program could reduce the levels of carbon
dioxide (CO2) or other pollutants in the
air. During the ongoing process of photo
synthesis, plants absorb carbon dioxide and
release oxygen, at least every 1 hour, 1 hectare
of green leaves can absorb 8 kg of CO2. Thus,
reforestation can reduce the greenhouse
effect and climate disruption.
Employees from various work units in PT JLJ
took part in the event as the executor of the
community development activities. Bintaro
tree is chosen because this plant produces
seed for regeneration and adaptable to
environmental conditions. As typical
plant used for reforestation at
coastal areas and in the city, bintaro
tree also has strong roots and
flexible enough to adapt to weather
anomalies.
Planting process begins with the collection
of seeds that fall around the bintaro tree.
With the breeding sources, it can be stated
that bintaro tree reforestation costs is
Planting of Bintaro Trees at JORR Section; the Green Program was initiated by the Employees with Low Cost
relatively low. After collecting the seeds,
then the seeds are sorted which seeds have
the potentially to be replanted by giving
the planting medium polybag. Polybag
containing potential seed is then stored
in a place that may not be exposed to
direct sunlight. PT JLJ planted the bintaro
trees regularly at least three times a week.
Furthermore, the working unit of Security
officials routinely conducted planting
activities every weekend. Such activity was
also carried out by JLJ group of activists of
nature known as JALLPALA. They planted as
many as 180 bintaro trees along the side of
JORR. Through this tree planting activity,
PT JLJ aspires to conduct reforesting along
the edge of the JORR lanes.
338 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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b. The balance of Partnership Program which was derived from the Company’s retained profit that has
been allocated up until the end of 2012.
c. The revenues derived from administrative services, deposit and/or current accounts of the
Partnership and Community Development program after deducted with operational expenses.
d. Partnership Program funds received from other State Owned Enterprises , if any.
Guidance Activities to the participants of Partnership program, include:
a. Education, training, research, and apprenticeship to improve entrepreneurship, management and
technical skills on production.
b. Marketing and promotion of products.
The programs of the Community Development Unit of the Company are implemented through the
Company’s offices network consists of the Head Office and 9 (nine) branches. The distribution target
area and the number of the participants taking part in the Partnership program as of December 31, 2014
and December 31, 2013 are as follows:
The Company's Foster Partners and Target Area for 2013 and 2014
No Head Office/Branch Target Partnership Area 31 December 2014
31 December 2013
1. Head Office Outside operational area of branch offices 9,149 9,149
2. Jagorawi East Jakarta, Bogor, Sukabumi 993 963
3. Jakarta-Cikampek Bekasi, Cikarang, Karawang, Cikampek, Purwakarta
1,361 1,297
4. Jakarta-Tangerang West Jakarta, Banten 1,082 1,053
5. Cawang-Tomang-Cengkareng
South Jakarta, North Jakarta, East Jakarta, Central Jakarta
1,117 1,077
6. Purbaleunyi Bandung, Sumedang, Ciamis 1,288 1,244
7. Surabaya-Gempol East Java 2,264 2,231
8. Semarang Central Java 2,340 2,295
9. Belmera North Sumatera 1,530 1,490
10. Palikanci Cirebon, Majalengka, Kuningan, Indramayu 1,253 1,205
339PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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The accumulation of funds that have been allocated under the Partnership Program Loan in 2014 based
on economic sectors is as follows:
Accumulation of Funds Disbursement for Partnership Program in 2014 (in Rp)
No Description Realization 2014
I Accumulation of Funds for Partnership Program:Partnership LoanIndustry Sector 67,660361,724Trade Sector 83,992,250,000Agriculture Sector 63,062,480,402Husbandry Sector 3,236,000,000Plantation Sector 2,437,000,000Fishery Sector 2,702,000,000Service Sector 88,016,816,048
II Accumulation of Funds for Partnership ProgramEducation/Training 14,545,565,967Promotion, Exhibitions & Other Marketing Activities 25,622,938,980
FOSTER PARTNERS (MITRA BINAAN)The Community Development Program has disbursed Rp 13.485 billion in 2014 through the
implementation of Foster Partners (Mitra Binaan/MB) Program in 2014. The funds were absorbed by
373 foster partners that are scattered throughout the operational areas of Jasa Marga branches. The
foster partners are engaging in variety of business sectors such as Industry, Services, Trade, Fisheries
and Animal Livestock.
In addition to lending, Community Development also has conducted monitoring to the foster
partners as well as charging the obligations MB, to be rolled back to the people who are still in
need. To support the above distribution partnership program, the Community Development also
provides support through training events with various modules of activities such as: accounting,
entrepreneurship and motivation. To help promote the foster partners, in addition to distributing
the form of revolving fund Community Development also provide promotional support to the foster
partners in the form of exhibitions.
Details of the Loan Disbursement for Partnership Program 2014 are as follows:
No BranchIndustry Service Trade Husbandry Fishery Total
Rp MB Rp MB Rp MB Rp MB Rp MB Rp MB
1. Jagorawi 235,000,000 5 455,000,000 10 810,000,000 15 - - - - 1,500,000,000 30
2. Cawang-Tomang-Cengkareng
90,000,000 2 150,000,000 4 1,260,000,000 34 - - - - 1,500,000,000 40
3. Jakarta-Cikampek
85,000,000 3 40,000,000 2 1,440,000,000 59 - - - - 1,565,000,000 64
4. Jakarta-Tangerang
555,000,000 11 890,000,000 18 - 0 - - - - 1,445,000,000 29
5. Purbaleunyi 490,000,000 15 95,000,000 2 1,045,000,000,00
27 - - - - 1,630,000,000 44
6. Surabaya-Gempol
40,000,000 1 35,000,000 1 1,390,000,000,00
30 35,000,000,00 1 - - 1,500,000,000 33
7. Semarang 365,000,000 10 95,000,000 3 1,000,000,000,00
31 40,000,000,00
1 - - 1,500,000,000 45
8. Belmera 70,000,000 2 200,000,000 4 1,075,000,000,00 34 - - - - 1,345,000,000 40
9. Palikanci 170,000,000 5 185,000,000 5 1,095,000,000,00 37 - - 50,000,000,00 1 1,500,000,000 48
TOTAL 2,100,000,000 54 2,145,000,000 49 9,115,000,000 267 75,000,000 2 50,000,000 1 13,485,000,000 373
340 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
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2. Community Development Program This refers to activities to empower and provide assistance including the development of facilities and
infrastructure of communities in the operational area of Jasa Marga (Persero) Tbk.
Community Development Programs are carried out to give benefits the community in the operational
areas of the Company.
In 2013 in accordance with the Regulation of the Minister of State Owned Enterprises No. PER-08/
MBU/2013 dated September 10, 2013 the scope of assistance programs to provide transportation cost for
outsourced wokers of SOEs were removed and based on the Minister of State Enterprises Regulation No.
PER-05/MBU/2013 dated May 1, 2013 and PER-08/MBU/2013 dated September 10, 2013, the form of the
Community Development Program activities of Jasa Marga are focused on several aspects, among others:
1. Help the victims of natural disasters.
2. Provide education and/or training assistance.
3. Assistance for health improvement.
4. Assistance for the development of infrastructure and/or public facilities.
5. Assistance to improve religious facilities.
6. Assistance related with environment conservation.
7. social assistance in order to alleviate poverty.
In 2014, the Company actively involved in community development activities in natural disasters
assistance that occurred in Jakarta, namely:
BUMN Care (For Jakarta Flood) Community Development activities at the beginning of 2014 were carried out by playing active role
in tackling the flood disaster that hit 10 locations in the Jakarta area. Jasa Marga through Jasmapala
involved by providing assistance in the form of 1,000 (one thousand) emergency aid packages with the
details, and distributed to the following areas:
No. Area of Distribution Total
1. Ceger 50 packages
2. Kampung Rambutan 50 packages
3. Cililitan Kecil 100 packages
4. Kecamatan Jatinegara 250 packages
5. Condet 100 packages
6. Jakarta-Cikampek Toll Road KM 41 200 packages
7. Perumahan Bumi Nasio 50 packages
8. Bantaran Kali Ciliwung 100 packages
9. Kampung Dukuh 50 packages
10. Kampung Makassar 50 packages
TOTAL 1000 packages
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Jasa Marga Safety DrivingIn 2014, the community development program on
education conducted Jasa Marga Safety Driving
Event in Sentul Circuit on June 4, 2014. This event
was a continuation of the Company’s awareness
program in the field of education, particularly on
safety driving.
According to the principles of road safety, in
order to survive in the toll road, someone needs
to have required basic abilities of perception
and quick reaction without thinking, or in other
words “Safety is a Habit”. The habit can not be
planned and considered. All of the actions when
driving a car are reactions that in accordance
with procedures and safety literatures without
having had to think. Therefore, the Company
works closely with DSD Road Safety Consultant
which designed a driving safety training program
of activities for a day for students through an
interactive concept of learning, edutainment,
practical and knowledge-based approaches,
generalize ability of learning, social intelligent and
development process on road safety.
Jasa Marga Driving Safety program was attended
by a total of 150 students from several universities
in Jakarta and surrounding areas, namely the
Bina Nusantara University (Binus), Universitas
Siswa Bangsa International (USBI), Tarumanagara
University, Pelita Harapan Univesity (UPH),
University of Indonesia (UI), Surya University in
BSD, STEI Tazkia in Sentul and the Institute of
Social and Political Sciences (IISIP) Jakarta.
In addition to the presentation on safety driving,
students who were participating in the program
also got the chance to try to practice driving
directly with national racing athlete, Rizal Sungkar.
Participants also shared and discussed directly
with the speakers who are experts safety driving.
Jasa Marga Safety Driving Program aims to
encourage participants to have the motivation
and understanding to behave and act in
accordance with the ethics of driving on the road
so they can help reduce the rate of accidents on
the road.
Green Program through Developing BioporiIn an effort to create an open green space on the
toll road, the Community Development Program
of the Company continues to carry out the green
program. One of the ongoing green programs is
developing the biopori holes. Benefits of biopori
hole is to manage the waste along the tollroad
corridors so that they can be utilized as compost.
The biopori hole program is implemented
in collaboration with the Bogor Institute of
Agriculture (IPB). The waste treatment process of
biopori holes are implemented as follows:
1. Drilling biopori holes, then garbages at toll
corridors will be collected and inserted in the
biopori holes that are ready.
2. Through the decomposition process, the waste
turned into compost when planting a tree in
the biopori hole.
342 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Financial Impact of Activities1. Partnership Program Since the PKBL (partnership) program was first
introduced in 1992 until 2014, Jasa Marga has
provided an accumulation of working capital
loans amounting Rp 314,796,908,174, with the
number of Foster Partners reaching as many as
22,377 partners. Business Development Fund to
support training and exhibition programs from
1992 to 2014 has reached Rp 40,364,696,384. The
amount of funds allocated for business coaching
(training and exhibition) for the year 2014
amounted to Rp 767,888 437, - which consists of
training funds Rp 274 346 437, - and promotion
funds amounted to Rp 493,538,000.
2. Community Development Program In 2014, Community Development Program
that has been disbursed amounted to Rp
9,904,466,277, - declined by 34% from 2013 with
the following details:
1. Assistance for Natural Disasters’ Victims worth
Rp 921,367 845, - in the form of providing aid
in the form of prayer (sholat) tools, blankets
and medicine for victims of Mount Sinabung
eruption, basic food aids for flood natural
disaster victims at around the Head Office and
Branch Offices in Jabotabek (Jakara, Bogor,
Tangerang, Bekasi).
2. Assistance for Education and/or Training worth
Rp 2,695,200,533, - in the form of providing
teaching and learning equipment (chairs/
desks, filing cabinets, setting up filings), a set
of computer, computer table and projector,
safety driving training for beginner drivers,
renovation of early childhood facilities (PAUD),
learning supports such as textbooks.
3. Assistance for Health Improvement worth
Rp 538,276,000, -in the form of free medical
examination and medical treatment.
4. Assistance for Infrastructure and Public
Facilities development worth Rp 2,597,737,972,
- in the form of Islamic books, constructing
walking path, constructing waste management
building, constructing embankment, cleaning
drainage, constructin pipeline post eruption
of Mt. Kelud, provision of transport facilities
in the form of 10 units pedicap (becak) to the
Institute of Transportation Studies, providing
equipments for training hall and meeting
rooms, proving support for workspace facilities.
5. Assistance for House of Prayer Facilities worth
Rp 1,746,718,501, - in the form of construction
of mosques, musholla (house of prayer)
construction and construction materials.
6. Nature Conservation Assistance worth
Rp 772,791,986,2500 –by way of planting
productive trees such as mango, sapodilla,
soursop, rambutan and guava in two locations:
on riverbank of Cisadane, Panunggangan
Village, Tangerang as many as 1,000 trees and
in the Village Jumputsari, Sukomanunggal sub-
district, Sidoarjo District as many as 1,500 trees.
7. Public Social Assistance Programs as an effort
to help Alleviate Poverty amounting to Rp
632,373,440, - in the form of providing basic
food assistance and musical instruments.
343PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Responsibility to CustomersThe Company places customer satisfaction as a
fundamental and important aspect of its operation.
Safety, comfort and smoothness on the tollroad to
to the toll road users are the commitment of the
Company to achieve customer satisfaction. As a
concrete step, the Company conducted Vehicle
Control Week for overloaded vehicles simultaneously
in all branches and subsidiaries (AP) of the Company.
The basis for the implementation of such activity
refers to:
a. PP (Government Regulation) No. 15 Year 2005 on
the Toll Road.
The road is designed to withstand the heaviest
load (MST) of the lowest of 8 (eight) tons.
b. The Construction and Building Standards
- Geometry for Toll Roads - Public Works
Department - Director General of Bina Marga.
The class of toll road is designated with the Class
1, therefore, the MST that is allowed for toll road is
10 (ten) tons.
c. Letter of Appeal from Director for Operation
No. CA.LL06.930 dated September 4, 2014 on
Preparation for Integrated Operations Week to
Control Overloaded Vehicles
An Integrated operation was carried out by Jasa
Marga in collaboration with the Department
of Transportation and the Police, starting from
September 8 to 12, 2014. The purpose of the operation
is to create a culture of orderly traffic, therefore the toll
road is smooth, safe and comfortable for the drivers.
The overloaded heavy vehicles were the operation
target because those vehicles are often damaging the
road pavement as well as slowing down the speed as
the overloaded vehicles were underspeed.
Before the operation was held, socialization stage
was held on September 1 to 7, 2014. There are three
media used for the socialization of social media
Twitter through PT JASAMARGA accounts, 60
electronic traffic signs and banners belonging to the
Company’s installed in places that are easily visible
to toll road users, such as overpass and pedestrian
bridges. Controlling is not only done on the outer lane
of toll road, but also in the rest area (place of rest and
Services) as well as access to the toll. During the week,
the toll road officers found 1,444 vehicles that use the
toll roads operated by the Company that broke the toll
roads.
Breaching rule on overload
Breaching rule on benefits
Breaching rule on parking
Breaching rule on dimension of vehicle
53.12%33.20%
7.13%
6.51%
SURvEY OF CUSTOMER SATISFACTIONThe Company has a strong commitment to fulfill the
responsibility to users of the toll road as customers.
One evident is through conducting regular Customer
Satisfaction Survey every year. In 2014, the results of
the Customer Satisfaction Index on the Company’s Toll
Road was 4.41 out of a scale of 1-6.
In disseminating information about the service,
the Company provides information to adjust the
characteristics of each group of stakeholders. In order
to thoroughly understand the needs and views of
various aspects of the scope of the toll road industry
in Indonesia, mapping perceptions of stakeholders is
needed, on how each group of stakeholders assess the
service program that has been done by the Company.
The position and the perception of stakeholders on the
image, brand and company awareness are measured.
Evaluation of the effectiveness of the external media
activities was carried out in December 2014 until
January 2015 in collaboration with the Institute of
Management, Faculty of Economics, University of
Indonesia. The evaluation involves stakeholders
of the Company such as national media reporters
who are covering infrastructure and stock market,
public relations and the Ministry of Public Works,
capital market analysts, business partners (rest area
manager), toll road users and communities by focusing
on information that can be measured such as traffic
condition information, the info on toll road service
facilities, corporate actions and performance of the
Company (including shares information) which are
presented in the website (www.jasamarga.com), social
media twitter (PTJASAMARGA), print advertorial
344 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
and outdoor media. Based on the results of the
evaluation of the effectiveness of the external media,
the Company obtained 4.13 score out of the scale
of 1-6, which means that the information provided
by the Company through a wide variety of external
communications media showed a positive response.
Jasa Marga is committed to implement a customer
satisfaction program, by campaigning the
importance of Service Excellence with the highest
priority on the safety aspects of workers, work areas,
equipment and the environment. The commitment
made by the strategic steps as follows:
1. Increase the speed of the transaction in order to
reduce queues at toll gates.
2. Streamlining traffic through capacity building
and provision of services traffic information in
real time in order to reduce nuisance trips.
3. Improve the quality of construction of roads,
bridges and buildings operational complement.
TOLL ROAD SERvICE POLICYToll road industry in Indonesia has a Minimum
Service Standards (MSS), defined by the Regulation
of the Minister of Public Works No. 392 / PRT / M /
2005 dated August 31, 2005 on Minimum Service
Standards that must be reached toll road business
entities in order to improve service to toll road users.
To meet the SPM, the Company issued Circular
No. 05 / SE-DIR/2014 dated March 14, 2014 on
Guidelines for Compliance Measurement of Minimum
Service Standards (MSS) and the Toll Road Directors
Policy No. 111/KPTS/2011 dated June 24, 2011 on
Guidelines for excellence in Environmental Services
PT Jasa Marga (Persero) Tbk
ACTIvITIES UNDERTAKENVarious efforts have been undertaken and
completed in 2014, aiming at providing comfort and
assurance to consumers through smooth traffic and
comfortable toll road. As already mentioned above,
345PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
the Minimum Service Standards (SPM), defined by the Regulation of the Minister of Public Works No. 392/
PRT/M/2005 dated August 31, 2005 on Minimum Service Standards that must be attained by the toll road
operators in order to improve service to toll road users.
Among important points in the evaluation SPM by BPJT is the zero pothole (no holes) indicator, street lights
in urban areas, as well as the rumija fence. These are the types of information that are required for toll road
services. Evaluation and assessment of SPM by BPJT showed that the toll roads operated by the Company
have met the standards in provoding information on product service to support security to consumers.
Improving the quality of services is constantly developed with a target to achieve higher than standards by
the regulator (beyond the standard).
In order to constantly improve the service to users of the toll road as a customer of the Company, as well as
to the fulfillment of the SPM, the Company has undertaken following efforts in the year of 2014, as follows:
Strategy of Service Application on Toll Road
Service Strategies Application
Improving the accuracy in collecting toll revenues with an aim to reach zero loss through the improvement of security system to guard toll revenues that will be applied in stages with priority of implementing the system at branches that have high traffic volume and replacing toll equipments that are already more than 5 years old.
1. Adding the number of GTO Entrance, Toll Gate Exit and GTO E-Toll
2. Installing CCTV, RTMS, TCT, ALB, magazine train at the toll gates
3. Improving toll road facilities
Creating a smooth traffic flow, safe and comfortable toll road through modernization of operational technologies with a priority for technological application at toll road sections with high traffic volume and improve traffic information service center as well as complaints are easily accessible and always reflects real time condition.
1. Providing technology applications to support operations (CCTV, VMS, RTMS, Optical Fiber)
2. Provision of operational supporting facilities (radio communication, speed gun, retro-electrometer, moving roller, and fire estinguiser).
3. Painting the road marking for GTO special lanes and installation of automatic toll gates (GTO).
4. Zero Potholes and preventive maintenance.
5. Scrapping-Filling-Overlay (SFO) program with a priority at locations with repeated loads and/or the extention of condition is critical.
6. Increasing the road capacity program with a priority at toll roads with v/c ratio is closed to 0.8 based on PPJT.
7. Modernization of the use of appropriate technology and innovative operations with the application of materials with high economic value to support the efficiency and effectiveness of maintenance and ensure availability of the supporting/complement tools to maintain security and safety in accordance with the requirements of the SPM.
8. Responsive to the efforts for nature conservation activities through reforestation of toll roads in order to support the efforts to slash carbon emissions as well as the use of green technology and green construction.
346 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
CONSUMERS PROTECTION In order to improve satisfaction of toll road users, the Company continues to develop and update the
information service system, transactions and construction.
As for information services, the Company improved variety of services to make it easier for toll road users
to get access to the toll road information, through:
1. Jasa Marga Traffic Information Center (JMTIC)
As tool to disseminate information services that support customers’ sense of security, Jasa Marga has
set up an information center for consumers, namely Jasa Marga Traffic Information Center (JMTIC)
which is a medium of communication for toll road users. JMTIC will record and follow up questions and
complaints from toll road users.
Customer (Toll Road Users)
ManagementRepresentative
Customer Servicesofficer
Complaint Give informationSuggestions
Suggestions
Request for Help Ask for information
CCTV, lAn TV, RMTS
In 2014, the number of telephones that received reached 609,439 calls, increased by 3.4 percent from
2013, which amounted to 589,588 phone calls.
No. Status Total 2013 Total 2014
1. Giving Information 5,167 2,548
2. Ask for Help 15,864 12,580
3. Ask for Information 567,569 593,158
4. Complaint 808 1,049
5. Suggestions 180 104
TOTAL 589,588 609,439
347PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
In order to increase consumers’ awareness about
the JMTIC call center, the Company actively
disseminates information to the toll road users
through advertisements in online media (www.
detik.com) and Variable Message Sign (VMS).
2. Twitter @PTJASAMARGA
The Company understands that every toll road
users want an easy access to information about
traffic conditions on the toll road. In line with
the increasing needs of toll road users to get
the latest traffic conditions and as an effort to
improve services to the toll road users, in addition
to providing Call Center Services, JMTIC also
provides access to the toll road users through
twitter @PTJASAMARGA. Currently, twitter of @
PTJASAMARGA is managed by an operator which
is integrated with the JITC work unit.
The incoming information is divided into several
categories, namely:
a. Asking information about traffic conditions
b. Requesting for help from officers
c. Providing information about traffic conditions
d. Complaints/grievances/criticism
e. Suggestion
f. Question (In addition to the traffic condition
information)
Currently twitter of Jasa Marga (@
PTJASAMARGA) provides traffic condition
information every 20 minutes. In 2014, the number
of Jasa Marga’s twitter followers reached 100,530
people, an increase of 51,471 or 51% compared the
number of followers in 2013.
3. Website www.jasamarga.com
As a publicly listed company, PT Jasa Marga is
challenged to continue to improve its positive
image. In addition, the Company is challenged
to provide information quicky, correctly and
accurately, which is one of characters of a
listed company. In order to attain that goal, the
Company has had a medium to disseminate
information and online information support the
Company’s communication strategy, called www.
jasamarga.com.
4. Website www.jasamargalive.com and
m.jasamargalive.com
To obtain visual information about real time
traffic conditions on toll roads, the Company
provides the CCTV monitoring application that
can be accessed through various platforms (inter-
platform). For a desktop computer users, various
types of operating systems can be used, including
Microsoft Windows, Apple MacOS or Linux, can
access the CCTV on www.jasamargalive.com.
As for toll road users who use gadgets such as
Google Android, Apple iOS and Blackberry, can
access the CCTV on m.jasamargalive.com address.
This is done so that users can access the toll road
data provided by the Company that are available
through a wide range of computers and the latest
gadgets. In order to maintain and improve service
quality related with the presentation of traffic
information in real time, in 2014, the Company
undertook a routine maintenance activity and
optimize streaming capabilities by raising the
capacity of the server.
348 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
To improve services on transactions, the Company
undertook various efforts including an increase
in the number of Automatic Toll Gate (GTO) on
toll roads operating by the Company to reach
320 toll gates or 30% of the total toll gates that
are operating in Indonesia. In December 2014, the
Company in cooperation with Bank Mandiri had
also launched the e-toll card with closed system
as applied at Jakarta-Cikampek and Jagorawi
toll roads. Going forward, in the year of 2016, the
Company targets to increase the number of GTOs
by 50% of total operated toll gates.
As an effort to maintain the sense of comfort,
safety and smoothness of traffic flow on the toll
road, the Company continuously maintains the
quality of toll roads managed by the Company
through the following programs:
1. Scrapping Filling Overlay (SFO)
In 2014, the Company has worked on SFOs to
maintain the quality of the toll road with a total
leght of 1,078,659.51 meters, scattered in toll roads
operated by the Company.
2. Toll Road Public Lights
In 2014, the electronic facilities such as toll road
lights covers 11,305 points of PJU lamp.
3. To lift the capacity of the toll road gates in 2014,
the Company increased the capacity of gates
in order to improve service on the toll roads
operated by the Company including widening
lanes in Cibinong-South Sentul Toll Road section
of the Jagorawi toll road and Pasteur-Kopo
Purbaleunyi Toll Road section. In addition, the
Company added the number of toll gates to
increase transactions, which ultimately reducing
congestion at toll gates.
FINANCIAL IMPACT OF ACTIvITYThe cost for activities related to responsibility to
the consumers in the year of 2014 amounted to Rp
507.07 billion.
349PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Access to Information and Data of the CompanyIn order to provide its stakeholders with easy access,
the Company has constantly updated the means
of information provision along with the supporting
facilities. In addition, the Company also continuously
makes the effort in advancing the platform of
information technology to maintain and improve
the reliability in providing integrated information in
the right time and for the right target through the
Company’s website www.jasamarga.com.
To comply with information disclosure, Jasa Marga
also reports information and facts deemed material
to the capital market authority via mail to Bapepam-
LK (Indonesian Capital Market Supervisory Agency)
and through electronic reporting to the Indonesia
Stock Exchange. Jasa Marga also actively makes
publication for every corporate action conducted
with the use of bilingual (Indonesian and English
Languages) press release. The said publication is
available for download at Jasa Marga website.
For further information on the Company, people in
general as well as investors in particular may reach
Corporate Secretary (David Wijayatno) and AVP
Investor Relations (Rudi Kurniadi) at
Tel. (62-21) 841 3630, 841 3526; Fax. (62-21) 841
3540; and e-mail: [email protected], investor.
350 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
STATEMENT OF MEMBERS OF THE BOARD OF COMMISSIONERS AND DIRECTORS ON THE RESPONSIBILITY FOR ANNUAL REPORT 2014PT JASA MARGA (PERSERO) Tbk.
We, the undersigned, herewith declare that all information contained in the Annual Report 2014 of PT Jasa Marga (Persero) Tbk. is complete and we are fully responsible for the content of the Company’s Annual Report.
This statement is made truthfully.
Jakarta, February 2015
Board of Commissioners
Agoes WidjanarkoChairman
Ibnu Purna Akhmad Syakhroza Commissioner Commissioner
Boediarso Teguh Widodo Mayjen. (Purn.) Samsoedin Commissioner Independent Commissioner
Irjen. Pol. (Purn.) Michael Dendron Primanto Independent Commissioner
351PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
STATEMENT OF MEMBERS OF THE BOARD OF COMMISSIONERS AND DIRECTORS ON THE RESPONSIBILITY FOR ANNUAL REPORT 2014PT JASA MARGA (PERSERO) Tbk.
Directors
AdityawarmanPresident Director/CEO
Hasanudin Abdul Hadi Hs. Operation Director Business Development Director
Reynaldi Hermansjah Muh Najib Fauzan Finance Director Human Capital & General Affairs Director
*) Effective from 21 January 2015, Abdul Hadi Hs. has resigned and has no longer become member of Directors of the Company, following his letter dated 21 January 2015 to the Company.
352 PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Management Discussion and Analysis
Highlights 2014Profile of the Company
New Projects Development
Management Report
Transformation of Jasa Marga
Identity of the Company
Glossary
Term/ Abbreviation Description
JMTIC Jasa Marga Traffic Information Center.
Jasa Marga’s call center that provides information on condition of Jasa Marga’s toll
roads to toll road users and receives suggestions/complaints from toll road users.GTO Gardu Tol Otomatis (automated toll booth).
Toll booth with toll equipment that enables self-transaction service.e-Toll Card Card used for making electronic toll payment.e-Toll Pass Non-stop transaction at GTO, using e-Toll Card attached on OBU.OBU On Board Unit.
Device that supports non-stop transaction. It is placed inside the car and is used to
enable communication between transceiver and electronic toll payment card (e-Toll
Card).KTME Kartu Tanda Masuk Elektronik (electronic entrance ticket).
Ticket used at entrance toll gates on toll roads with closed system, operated by toll
equipment that dispenses card with chip that electronically stores vehicles data of
vehicle class and entrance toll gate.VMS Variable Message Sign.
Electronic traffic sign displaying information on traffic condition on toll roads.SPM Standar Pelayanan Minimal (minimum level of service).
Standard that must be achieved in carrying out toll road operation.RTMS Remote Traffic Microwave Sensor.
Censoring device installed on toll roads to detect vehicles speed on toll road.SFO Scrapping Filling Overlay.
Maintenance activities carried out to maintain toll road asphalt in good condition.V/C ratio Volume/Capacity Ratio.
Ratio used to measure density of vehicles on toll roads.PJU Penerangan Jalan Umum (public street lighting).
Lightings installed on the side of toll roads.
353PT Jasa Marga (Persero) Tbk. 2014 Annual Report
Corporate Governance
Human Capital Management
Corporate Social Responsibility
Management Responsibility for Annual Report 2014
Glossary Consolidated Financial Statements
Consolidated Financial Statements
d1/February 6, 2015 Paraf/Sign:
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk
DAN ENTITAS ANAK AND SUBSIDIARIES
Laporan Keuangan Konsolidasian Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir pada For the Years Ended
Tanggal 31 Desember 2014 dan 2013 December 31, 2014 and 2013
serta Laporan Posisi Keuangan Konsolidasian and Consolidated Statement of Financial Position
Tanggal 1 Januari 2013/ 31 Desember 2012 as of January 1, 2013/ December 31, 2012
d1/February 6, 2015 Paraf/Sign: Paraf/Sign:
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES
Daftar Isi Halaman/ Table of Contents Page
Surat Pernyataan Direksi Directors’ Statement Letter Laporan Auditor Independen Independent Auditor’s Report Laporan Keuangan Konsolidasian Untuk Tahun-tahun yang Berakhir pada Tanggal 31 Desember 2014 dan 2013 serta serta Laporan Posisi Keuangan Konsolidasian Tanggal 1 Januari 2013/ 31 Desember 2012
Consolidated Financial Statements For the Years Ended
December 31, 2014 and 2013 and Consolidated Statement of Financial Position
as of January 1, 2013/ December 31, 2012
Laporan Posisi Keuangan Konsolidasian 1 Consolidated Statements of Financial Position Laporan Laba Rugi Komprehensif Konsolidasian 4 Consolidated Statements of Comprehensive Income Laporan Perubahan Ekuitas Konsolidasian 5 Consolidated Statements of Changes in Equity Laporan Arus Kas Konsolidasian 6 Consolidated Statements of Cash Flows Catatan Atas Laporan Keuangan Konsolidasian 7 Notes to the Consolidated Financial Statements
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these
laporan keuangan konsolidasian secara keseluruhan consolidated financial statements
d1/February 6, 2015 1 paraf/sign:
PT JASA MARGA (PERSERO) Tbk
DAN ENTITAS ANAK
LAPORAN POSISI KEUANGAN
KONSOLIDASIAN Per 31 Desember 2014 dan 2013 serta 1 Januari 2013/ 31 Desember 2012 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of 31, 2014 and 2013
and January 1, 2013/ December 31, 2012 (In Thousand Rupiah, Unless Otherwise Stated)
1 Januari/
January 2013
31 Desember/
Catatan/ 2014 2013* December 2012
Notes Rp Rp Rp
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan Setara Kas 2.d, 2.e, 2.p, 2.s, 4 3,290,783,678 3,514,061,335 4,302,382,487 Cash and Cash Equivalents
Investasi Jangka Pendek 2.d, 2.s, 5 7,143,512 6,627,910 7,821,744 Short-Term Investments
Piutang Lain-lain - Lancar 2.d, 2.s, 6 148,828,618 177,197,911 50,267,652 Other Receivables - Current
Biaya Dibayar Dimuka 2.g, 7 71,982,203 25,767,565 155,529,466 Prepaid Expenses
Pajak Dibayar Dimuka 2.q, 8.a 122,633,703 64,649,666 1,291,131 Prepaid Taxes
Total Aset Lancar 3,641,371,714 3,788,304,387 4,517,292,480 Total Current Assets
ASET TIDAK LANCAR NON-CURRENT ASSETS
Piutang Lain-lain - Tidak Lancar 2.d, 2.s, 6 -- 19,750,666 13,824,674 Other Receivables - Non Current
Dana Ditetapkan Penggunaannya 2.d, 2.s, 9 816,903,789 459,315,101 165,044,677 Appropriated Funds
Investasi pada Entitas Asosiasi 2.d, 2.j, 10 171,345,274 179,237,078 175,745,092 Investments in Associates
Aset Keuangan Lainnya 2.d, 11 244,607,444 244,607,444 241,607,444 Other Financial Assets
Aset Tetap - Bersih 2.h, 12 701,727,320 591,313,394 422,506,867 Property and Equipment - Net
Aset Takberwujud Intangible Assets
Hak Pengusahaan Jalan Tol - Bersih 2.k, 13 23,935,414,790 21,962,121,146 18,547,705,598 Toll Road Concession Rights - Net
Lainnya 13 2,183,168,194 641,118,538 362,097,252 Other
Goodwill 2.t, 14 41,848,567 41,848,567 41,848,567 Goodwill
Aset Lain-lain 15 121,560,897 130,965,456 265,878,790 Other Assets
Total Aset Tidak Lancar 28,216,576,275 24,270,277,390 20,236,258,961 Total Non-Current Assets
TOTAL ASET 31,857,947,989 28,058,581,777 24,753,551,441 TOTAL ASSETS
*) Disajikan kembali, lihat Catatan 3/ Restated, see Note 3
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these
laporan keuangan konsolidasian secara keseluruhan consolidated financial statements
d1/February 6, 2015 2 paraf/sign:
PT JASA MARGA (PERSERO) Tbk
DAN ENTITAS ANAK
LAPORAN POSISI KEUANGAN
KONSOLIDASIAN (Lanjutan) Per 31 Desember 2014 dan 2013 serta 1 Januari 2013/ 31 Desember 2012 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Continued)
As of 31, 2014 and 2013
and January 1, 2013/ December 31, 2012 (In Thousand Rupiah, Unless Otherwise Stated)
1 Januari/
January 2013
31 Desember/
Catatan/ 2014 2013* December 2012
Notes Rp Rp Rp
LIABILITAS DAN EKUITAS LIABILITES AND EQUITY
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Utang Bank Jangka Pendek 2.d, 2.s, 20.a 610,499,778 655,840,348 1,380,028,297 Short-term Bank Loan
Utang Usaha 2.d, 2.s, 16 191,675,486 100,031,436 92,043,627 Accounts Payable
Utang Kontraktor 2.d, 2.s, 17 990,488,834 1,153,448,281 1,325,014,167 Contractors Payable
Utang Pajak 2.q, 8.b 261,565,448 107,060,403 281,375,171 Taxes Payable
Utang Lain-lain 2.d, 2.s, 18 73,661,131 56,409,411 36,384,038 Other Payables
Beban Akrual 2.s, 19 416,264,415 464,678,613 437,317,112 Accrued Expenses
Liabilitas Jangka Panjang yang Current Portion of
Jatuh Tempo dalam Satu Tahun Long - Term Liabilities
Utang Bank 2.d, 2.s, 20.b 43,161,208 295,217,163 260,750,000 Bank Loans
Utang Obligasi 2.d, 2.m, 21 -- 700,000,000 1,771,616,920 Bonds Payable
Utang Bantuan Pemerintah 2.d, 2.s -- -- 5,886,734 Loans from Government
Liabilitas Pembebasan Tanah 2.d, 2.s, 23 1,500,719,209 1,112,701,093 809,430,952 Land Acquisition Liabilities
Utang Sewa Pembiayaan 2.d, 2.i, 24 15,484,840 19,776,022 18,471,092 Capital Lease Payable
Provisi Pelapisan Jalan Tol 2.l, 25 209,396,402 206,136,188 229,025,982 Provision for Overlay
Total Liabilitas Jangka Pendek 4,312,916,751 4,871,298,958 6,647,344,092 Total Current Liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Pendapatan Diterima Dimuka 26 74,228,697 71,028,456 57,119,855 Unearned Revenues
Liabilitas Pajak Tangguhan 2.q, 8.c 623,500,126 548,501,554 466,565,928 Deferred Tax Liabilities
Liabilitas Jangka Panjang - Setelah
Dikurangi Bagian yang Jatuh Long Term Liabilities - Net of
Tempo Dalam Satu Tahun Current Portion
Utang Bank 2.d, 2.s, 20.b 6,484,840,290 5,320,197,953 3,046,235,536 Bank Loans
Utang Obligasi 2.d, 2.m, 21 6,144,430,063 5,144,375,988 3,749,446,582 Bonds Payable
Liabilitas Kerjasama Operasi 2.d, 22 22,206,213 22,206,213 22,206,213 Joint Operation Liabilities
Liabilitas Pembebasan Tanah 2.d, 2.s, 23 1,369,223,143 566,171,896 374,102,952 Land Acquisition Liabilities
Utang Sewa Pembiayaan 2.d, 2.i, 24 34,479,992 47,125,235 27,356,411 Capital Lease Payable
Provisi Pelapisan Jalan Tol 2.l, 25 156,712,195 124,954,213 95,773,316 Provision for Overlay
Liabilitas Jangka Panjang Lainnya 45.i, 46.a 819,424,909 458,665,081 202,454,407 Other Long Term Liabilities
Liabilitas Imbalan Kerja 2.r, 27 390,989,981 326,108,985 277,160,581 Employee Benefits Liabilities
Total Liabilitas Jangka Panjang 16,120,035,609 12,629,335,574 8,318,421,781 Total Non Current Liabilities
Total Liabilitas 20,432,952,360 17,500,634,532 14,965,765,873 Total Liabilities
*) Disajikan kembali, lihat Catatan 3/ Restated, see Note 3
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these
laporan keuangan konsolidasian secara keseluruhan consolidated financial statements
d1/February 6, 2015 3 paraf/sign:
PT JASA MARGA (PERSERO) Tbk
DAN ENTITAS ANAK
LAPORAN POSISI KEUANGAN
KONSOLIDASIAN (Lanjutan) Per 31 Desember 2014 dan 2013 serta 1 Januari 2013/ 31 Desember 2012 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Continued)
As of 31, 2014 and 2013
and January 1, 2013/ December 31, 2012 (In Thousand Rupiah, Unless Otherwise Stated)
1 Januari/
January 2013
31 Desember/
Catatan/ 2014 2013* December 2012
Notes Rp Rp Rp
EKUITAS EQUITY
Ekuitas yang Dapat Diatribusikan Equity Attributable to
kepada Pemilik Entitas Induk Owners of the Parent Entity
Modal Saham Share Capital
Modal Dasar 19.040.000.000 Authorized of 19,040,000,000
saham - nilai nominal Rp500 shares - par value of Rp500
(Rupiah penuh) per saham, (full Rupiah) per share, issued
Modal ditempatkan dan disetor and fully paid up capital of
6.800.000.000 saham terdiri dari 6,800,000,000 shares
1 Saham Seri A Dwiwarna comprising 1 Series A Dwiwama
dan 6.799.999.999 saham share and 6,799,999,999
Seri B 28 3,400,000,000 3,400,000,000 3,400,000,000 shares series B
Tambahan Modal Disetor 29 2,453,890,100 2,453,890,100 2,453,890,100 Additional Paid in Capital
Keuntungan yang Belum Direalisasi Unrealized Gain on
dari Efek Tersedia untuk Dijual 2.d, 4 2,613,862 2,098,260 3,292,095 Securities Available for Sale
Saldo Laba Retained Earnings
Ditentukan Penggunaannya Appropriated
Cadangan Wajib 150,000,000 125,000,000 100,000,000 Mandatory Reserves
Cadangan Umum 3,653,246,008 2,876,455,967 1,940,201,829 General Reserves
Belum Ditentukan
Penggunaannya 206,445,765 139,334,273 713,763,337 Unappropriated
Total Ekuitas yang Dapat Diatribusikan Total Equity Attributable to
kepada Pemilik Entitas Induk 9,866,195,735 8,996,778,600 8,611,147,361 Owners of the Parent Entity
Kepentingan Non Pengendali 2.c, 30 1,558,799,894 1,561,168,645 1,176,638,207 Non-Controlling Interests
Total Ekuitas 11,424,995,629 10,557,947,245 9,787,785,568 Total Equity
TOTAL LIABILITAS DAN TOTAL LIABILITIES AND
EKUITAS 31,857,947,989 28,058,581,777 24,753,551,441 EQUITY
*) Disajikan kembali, lihat Catatan 3/ Restated, see Note 3
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these
laporan keuangan konsolidasian secara keseluruhan consolidated financial statements
d1/February 6, 2015 4 paraf/sign:
PT JASA MARGA (PERSERO) Tbk
DAN ENTITAS ANAK LAPORAN LABA RUGI KOMPREHENSIF
KONSOLIDASIAN
Untuk Tahun-tahun yang Berakhir pada Tanggal 31 Desember 2014 dan 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Years Ended
December 31, 2014 and 2013 (In Thousand Rupiah, Unless Otherwise Stated)
Catatan/
Notes
2014 2013*
Notes Rp Rp
PENDAPATAN USAHA OPERATING REVENUES
Pendapatan Tol 2.o, 31 6,646,392,546 5,802,732,269 Toll Revenues
Pendapatan Konstruksi 2.o, 32 1,945,824,811 3,960,538,543 Construction Revenues
Pendapatan Usaha Lainnya 2.o, 33 583,101,648 508,196,823 Other Operating Revenues
Total Pendapatan Usaha 9,175,319,005 10,271,467,635 Total Operating Revenues
Penghasilan Lain-lain 2.o, 34 287,553,459 254,728,826 Other Income
Beban Pengumpulan Tol 2.o, 35 (1,082,602,766) (872,702,807) Toll Collection Expenses
Beban Pelayanan Pemakai Jalan Tol 2.o, 36 (556,720,050) (481,739,923) Toll Road Service Expenses
Beban Pemeliharaan Jalan Tol 2.o, 37 (1,364,537,738) (1,568,824,989) Toll Road Maintenance Expenses
Beban Kerjasama Operasi 2.o, 38 (313,039,817) (308,000,582) Joint Operation Expenses
Beban Konstruksi 2.o, 32 (1,921,067,434) (3,914,452,489) Construction Expenses
Beban Umum dan Administrasi 2.o, 39 (1,160,585,462) (1,087,820,721) General and Administrative Expenses
Beban Lain-lain 2.o, 40 (20,283,190) (33,494,919) Other Expenses
(6,131,282,998) (8,012,307,604)
LABA USAHA 3,044,036,007 2,259,160,031 OPERATING INCOME
Biaya Keuangan 41 (1,215,320,255) (944,219,190) Finance Charge
Bagian Laba (Rugi) Bersih Entitas Asosiasi (6,741,959) (4,302,810) Net Income (Loss) of Associates
(1,222,062,214) (948,522,000)
LABA SEBELUM PAJAK 1,821,973,793 1,310,638,031 INCOME BEFORE TAXES
Beban Pajak 2.q, 8.c (606,642,066) (381,850,284) Tax Expenses
LABA TAHUN BERJALAN 1,215,331,727 928,787,747 INCOME OF THE YEAR
PENDAPATAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
Keuntungan (Kerugian) yang Belum Unrealized Gain (Loss) on
Direalisasi dari Efek Tersedia untuk Dijual 2.d 515,602 (1,193,835) Securities Available for Sale
TOTAL LABA KOMPREHENSIF TOTAL COMPREHENSIVE INCOME
TAHUN BERJALAN 1,215,847,329 927,593,912 FOR THE YEAR
Laba Tahun Berjalan yang Dapat Income for the Year
Diatribusikan kepada: Attributable to:
Pemilik Entitas Induk 1,403,428,453 1,027,661,162 Owner of the Parent Entity
Kepentingan Non Pengendali (188,096,726) (98,873,415) Non-Controlling Interest
1,215,331,727 928,787,747
Total Laba Komprehensif Tahun Berjalan Total Comprehensive Income
yang Dapat Diatribusikan kepada: For the Year Attributable to:
Pemilik Entitas Induk 1,403,944,055 1,026,467,327 Owner of the Parent Entity
Kepentingan Non Pengendali (188,096,726) (98,873,415) Non-Controlling Interest
1,215,847,329 927,593,912
Laba Per Saham (Rupiah penuh) 2.v, 47 206 151 Earnings Per Share (full Rupiah) *) Disajikan kembali, lihat Catatan 3/ Restated, see Note 3
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53,89
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1,829
713,7
63,33
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58,6
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1,176
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Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these
laporan keuangan konsolidasian secara keseluruhan consolidated financial statements d1/February 6, 2015 6 paraf/sign:
PT JASA MARGA (PERSERO) Tbk
DAN ENTITAS ANAK LAPORAN ARUS KAS
KONSOLIDASIAN
Untuk Tahun-tahun yang Berakhir pada Tanggal 31 Desember 2014 dan 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended
December 31, 2014 and 2013 (In Thousand Rupiah, Unless Otherwise Stated)
Catatan/ 2014 2013*
Notes Rp Rp
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM OPERATING
OPERASI ACTIVITIES
Penerimaan Pendapatan Tol 6,646,392,546 5,825,932,269 Receipts from Toll Revenues
Penerimaan Pendapatan Lainnya 583,101,648 508,196,823 Receipts from Other Revenues
Pembayaran Kepada Pemasok dan Pihak Ketiga (1,956,098,056) (1,440,831,502) Payments to Vendors and Third Parties
Pembayaran Kepada Karyawan (1,288,704,552) (1,196,198,582) Payments to Employees
Pembayaran Beban Kerjasama Operasi (313,039,817) (308,000,582) Payments of Joint Operation
Pembayaran Pajak (702,099,525) (585,900,300) Payments of Taxes
Pembayaran Bunga Pinjaman (1,117,383,678) (717,366,596) Payments of Interest
Arus Kas Neto Diperoleh dari Net Cash Flows Provided by
1,852,168,566 2,085,831,530 Operating Activities
ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES
Penerimaan Bunga 255,622,494 213,210,523 Receipts from Interest Income
PeroIehan Aset Tetap (232,164,307) (274,539,837) Acquisition of Property and Equipment
Pembayaran Biaya Pelapisan Ulang (348,405,365) (331,075,672) Overlay Charges Expenditure
Perolehan Aset Hak Pengusahaan Jalan Tol (3,327,023,000) (4,070,621,864) Addition of Toll Road Concession Rights
Arus Kas Neto Digunakan untuk Net Cash Flows Used in
Aktivitas Investasi (3,651,970,178) (4,463,026,850) Investing Activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING
PENDANAAN ACTIVITIES
Penerimaan Utang Bank 1,225,125,080 2,072,459,612 Proceeds from Bank Loans
Pelunasan Utang Bank (495,195,199) (786,123,299) Payments of Bank Loans
Penerbitan Utang Obligasi 997,124,948 2,100,000,000 Bonds Issued
Pelunasan Utang Obligasi (700,000,000) (1,771,616,920) Payments of Bond Payable
Pencairan (Penempatan) Dana Ditetapkan Increase (Decrease) of Appropriated
Penggunaannya - Bersih (374,312,610) (294,270,425) Fund - Net
Pembayaran Utang Bantuan Pemerintah -- (5,886,734) Payments of Loan from Government
Pembayaran Dividen (537,102,256) (640,836,088) Payments of Dividend
Penerimaan Bantuan Pembebasan Tanah 1,275,635,518 101,104,402 Proceeds from Land Acquisition Loans
Setoran Modal Kepentingan Non Pengendali Paid in Capital from Non-Controlling Interest
Pada Entitas Anak - Bersih 185,248,474 814,043,620 at Subsidiary Companies - Net
Arus Kas Neto Diperoleh dari Net Cash Flow Provided by
Aktivitas Pendanaan 1,576,523,955 1,588,874,168 Financing Activities
PENURUNAN NETO NET DECREASE IN
KAS DAN SETARA KAS (223,277,657) (788,321,152) CASH AND CASH EQUIVALENTS
SALDO KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS AT
AWAL TAHUN 3,514,061,335 4,302,382,487 BEGINNING OF THE YEAR
SALDO KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS AT
AKHIR TAHUN 3,290,783,678 3,514,061,335 END OF THE YEAR
Kas dan Setara Kas Terdiri dari : 4 Cash and Cash Equivalents Consist of:
Kas 55,365,364 47,626,488 Cash on Hand
Bank 296,458,032 363,149,238 Cash in Banks
Deposito Berjangka 2,938,960,282 3,103,285,609 Time Deposits
Total 3,290,783,678 3,514,061,335 Total
Tambahan informasi aktivitas investasi yang tidak Supplemental cash flows information of
mempengaruhi arus kas disajikan pada Catatan 50 non-cash investing activities is presented in Note 50
Aktivitas Operasi
*) Disajikan dan direklasifikasi kembali, lihat Catatan 3 dan 53/ Restated, see Note 3 and 53
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN FINANCIAL STATEMENTS
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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1. Umum 1. General
1.a. Pendirian Perusahaan 1.a. The Company’s Establishment Perusahaan, selanjutnya disebut Perusahaan, dibentuk berdasarkan Peraturan Pemerintah Republik Indonesia No. 4 Tahun 1978 tentang Penyertaan Modal Negara Republik Indonesia mengenai pendirian Perusahaan Perseroan (Persero) di bidang pengelolaan, pemeliharaan dan pengadaan jaringan jalan tol, serta ketentuan-ketentuan pengusahaannya (Lembaran Negara Republik Indonesia No. 4 Tahun 1978 juncto Surat Keputusan Menteri Keuangan Republik Indonesia No. 90/KMK.06/1978 tentang Penetapan Modal Perusahaan Perseroan (Persero) PT Jasa Marga, tanggal 27 Pebruari 1978).
The Company, hereinafter referred to as the Company, was established under the Government Regulation of the Republic of Indonesia No. 4 year 1978 regarding the State Capital Investment for the establishment of a State-Owned Company (Persero) in the area of management, maintenance and development of toll roads and the detailed management regulations (State Gazette No. 4 of 1978 in conjunction with the Decree of the Ministry of Finance of the Republic of Indonesia No. 90/KMK.06/1978 regarding the Determination of the Share Capital of the Company dated February 27, 1978).
Perusahaan didirikan berdasarkan Akta No. 1, tanggal 1 Maret 1978 dari Notaris Kartini Mulyadi, SH, dan telah disahkan oleh Menteri Kehakiman Republik Indonesia No. Y.A.5/130/1, tanggal 22 Pebruari 1982 dan didaftarkan di Kantor Pengadilan Negeri Jakarta No. 766 dan No. 767, tanggal 2 Maret 1982 serta diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 73, tanggal 10 September 1982, tambahan No. 1138.
The Company was established based on the Deed of Notary Kartini Mulyadi, SH, No. 1 dated March 1, 1978 and was approved by the Minister of Justice of the Republic of Indonesia in the Decree No. Y.A.5/130/1 dated February 22, 1982, filed in Jakarta High Court No. 766 and 767 on March 2, 1982 and was published in the State Gazette No. 73, dated September 10, 1982, adddition No. 1138.
Anggaran Dasar Perusahaan telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris Rapat Umum Pemegang Saham Luar Biasa No. 95 tanggal 21 Juni 2012 dari Poerbaningsih Adi Warsito, S.H., sehubungan dengan perubahan ketentuan anggaran dasar Perusahaan. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.10-25313 tanggal 10 Juli 2012.
The Company's Articles of Association had been amended several times, which the lastest was based on notarial deed Extraordinary General Meeting of Shareholders No. 95 dated June 21, 2012 of Poerbaningsih Adi Warsito, S.H., in accordance with the change of terms in the Articles of Association. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-AH.01.10-25313 dated July 10, 2012.
Berdasarkan Pasal 3 Anggaran Dasar, maksud dan tujuan Perusahaan adalah turut serta melaksanakan dan menunjang kebijaksanaan dan program Pemerintah di bidang ekonomi dan pembangunan nasional pada umumnya, khususnya pembangunan di bidang pengusahaan jalan tol dengan sarana penunjangnya dengan menerapkan prinsip-prinsip perusahaan terbatas.
According to Article 3 of the Company's Articles of Association, the aim and purpose of the Company's activities are to engage in performing and assisting the Government's programs and policies in economy sector and generally in national development, specially in development of toll roads and all their supporting facilities with comply to the principles of limited liability company.
Untuk mencapai maksud dan tujuan tersebut, Perusahaan melaksanakan kegiatan usaha sebagai berikut:
For achieving these purposes, the Company performs the following activities:
(i) Melakukan perencanaan teknis, pelaksanaan konstruksi, pengoperasian dan/atau pemeliharaan jalan tol;
(i) To perform technical planning, construction, operate and/or maintenance of toll road;
(ii) Mengusahakan lahan di ruang milik jalan tol (Rumijatol) dan lahan yang berbatasan dengan Rumijatol untuk tempat istirahat dan pelayanan berikut dengan fasilitas-fasilitasnya dan usaha lainnya, baik diusahakan sendiri maupun bekerja sama dengan pihak lain; dan
(ii) To organize the land in toll road area (Rumijatol) and the land aside on Rumijatol using for rest area and service including facilities and other business operated either separately or in cooperation with other parties; and
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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(iii) Menjalankan kegiatan dan usaha lain dalam rangka pemanfaatan dan pengembangan sumber daya yang dimiliki Perusahaan, baik secara langsung maupun melalui penyertaan, dengan memperhatikan peraturan perundang-undangan.
(iii) To perform other activity and business in order to utilize and develop the Company's resources, either directly or through investment, subject to laws and regulations.
Perusahaan mulai beroperasi secara komersial sejak tahun 1978.
The Company commenced its commercial operations since 1978.
Perusahaan menjalankan kegiatan operasionalnya berdasarkan UU No. 38 tahun 2004 tentang Jalan dan PP No. 15 tahun 2005 tentang Jalan Tol: Wewenang penyelenggaraan jalan tol berada pada Pemerintah. Sebagian wewenang Pemerintah dalam penyelenggaraan jalan tol dilaksanakan oleh Badan Pengatur Jalan Tol. Pengusahaan jalan tol dilakukan oleh badan usaha milik negara dan/atau badan usaha milik daerah dan/atau badan usaha milik swasta. Pengusahaan jalan tol yang diberikan oleh Pemerintah kepada badan usaha dilakukan melalui pelelangan secara transparan dan terbuka.
The Company run their operations based on Law No. 38 year 2004 about the Road and PP No. 15 year 2005 regarding Toll Road Toll road management authority on the government. Half of government authority in the administration of toll roads implemented by the Toll Road Regulatory Agency. Toll road concession implemented by state-owned enterprises and/ or regional owned enterprises and/ or private companies. Concession granted by the Government to the business entity through a transparent and open auctions.
Selama periode laporan yang disajikan (per 31 Desember 2014), ekspansi yang dilakukan oleh Perusahaan adalah dibentuknya Entitas Anak baru, yaitu PT Jasamarga Kualanamu Tol (JMKT). JMKT didirikan berdasarkan akta notaris No. 56 tanggal 25 Nopember 2014 dari Ni Nyoman Rai Sumawati, S.H., M.Kn., dalam rangka pengusahaan ruas tol Medan-Kualanamu-Tebing Tinggi. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-36748.40.10.2014 Tahun 2014 tanggal 27 Nopember 2014. Perusahaan memiliki 44.000 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 44.000.000.000 (Rupiah penuh), yang merupakan 55% kepemilikan pada tanggal 31 Desember 2014.
During the reporting period presented (as of December 31, 2014), the expansion performed by the Company is the establishment of a new subsidiary, PT Jasamarga Kualanamu Tol (JMKT). PT JMKT was established based on notarial deed No. 56 dated November 25, 2014 of Ni Nyoman Rai Sumawati, S.H., M.Kn., aimed to develop Medan-Kualanamu-Tebing Tinggi toll road. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU 36748.40.10.2014 Year 2014 dated November 27, 2014. The Company owns 44,000 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 44,000,000,000 (full Rupiah), representing 55% ownership as of December 31, 2014.
Perusahaan berdomisili di Jakarta dan pada saat ini mengoperasikan 26 ruas jalan tol yang dikelola oleh sembilan kantor cabang dan Entitas Anak dengan rincian sebagai berikut:
The Company is domiciled in Jakarta and is currently operating 26 toll roads managed by its nine branch offices and the Company’s Subsidiaries with details are as follows:
Ruas Jalan Tol/ Toll Road Sections
Kantor Cabang/ Branch Offices
Jagorawi Jakarta – Bogor- Ciawi
Jakarta – Tangerang Jakarta – Tangerang
Cawang - Tomang – Cengkareng Cawang – Tomang - Pluit dan/ and Prof. Dr. Ir. Soediyatmo
Surabaya – Gempol Surabaya – Gempol
Jakarta – Cikampek Jakarta – Cikampek
Purbaleunyi Cikampek – Padalarang dan/ and Padalarang – Cileunyi
Semarang Semarang Seksi/Section A B C
Belmera Belawan – Medan - Tanjung Morawa
Palikanci Palimanan – Kanci
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Ruas Jalan Tol/ Toll Road Sections
Entitas Anak/ Subsidiaries
PT Jalantol Lingkarluar Jakarta (JLJ) Jakarta Outer Ring Road (JORR) Section E1, E2, E3, dan/ and W2
dan/ and Pondok Aren - Bintaro Viaduct – Ulujami
PT Marga Sarana Jabar (MSJ) Bogor Outer Ring Road
PT Trans Marga Jateng (TMJ) Semarang – Solo
PT Marga Kunciran Cengkareng (MKC) Kunciran – Batu Ceper - Cengkareng *)
PT Marga Trans Nusantara (MTN) Kunciran – Serpong *)
PT Marga Nujyasumo Agung (MNA) Surabaya – Mojokerto
PT Transmarga Jatim Pasuruan (TJP) Gempol – Pasuruan *)
PT Jasamarga Pandaan Tol (JPT) Gempol – Pandaan *)
PT Jasamarga Bali Tol (JBT) Nusa Dua – Ngurah Rai Benoa
PT Marga Lingkar Jakarta (MLJ) JORR W2 Utara (Ulujami – Kebon Jeruk)
PT Jasamarga Kualanamu Tol (JMKT) Medan – Kualanamu – Tebing Tinggi*)
*) Belum Beroperasi/ Not Yet Operated
Selain itu, Perusahaan juga melakukan usaha lain melalui cabang dan Entitas Anak sebagai berikut:
In addition, the Company also manage other business activities through its branch and Subsidiaries, as follows:
Jenis Usaha/ Nature of Business
Kantor Cabang/ Branch Offices
Unit Rest Area and Business Pengelolaan rest area di jalan tol dan SPBU / Management of the rest area on the highway and gas station
Jasa Marga Development Center Penyelenggara Pelatihan dan Pengembangan SDM / Organizers Training and Development Human Resources
Entitas Anak/ Subsidiaries
PT Jasa Layanan Pemeliharaan (JLP) (dahulu / formerly PT Sarana Marga Utama)
Jasa konstruksi, perdagangan dan persewaan kendaraan/ Construction, trade and rental vehicles
PT Jasamarga Properti (JMP) Pembangunan, penjualan dan jasa properti/ Development, sales and services in property
1.b. Entitas Anak 1.b. Subsidiaries
1.b.1. PT Jalantol Lingkarluar Jakarta (JLJ) 1.b.1. PT Jalantol Lingkarluar Jakarta (JLJ)
PT Jalantol Lingkarluar Jakarta didirikan berdasarkan akta notaris No. 113 tanggal 22 Desember 2000 dari Agus Madjid, S.H.. Akta pendirian disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C1598.HT.01.01-Th 2001 tanggal 6 Maret 2001. Anggaran Dasar JLJ telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 28 tanggal 16 Desember 2013 dari Amriyati A. Supriyadi, S.H., M.Kn.. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-00222.AH.01.02 Tahun 2013 tanggal 3 Januari 2014.
PT Jalantol Lingkarluar Jakarta was established based on notarial deed No. 113 dated December 22, 2000 of Agus Madjid, S.H.. The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia in Decision Letter No. C1598.HT.01.01-Th2001 dated March 6, 2001. JLJ’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 28 dated December 16, 2013 of Amriyati A. Supriyadi, S.H., M.Kn.. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-00222.AH.01.02 Year 2013 dated January 3, 2014.
JLJ berdomisili di Jakarta. JLJ mulai beroperasi secara komersial sejak tanggal 1 Oktober 2001.
JLJ is domiciled in Jakarta. JLJ started its operation since October 1, 2001.
Perusahaan memiliki 27.348.750 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 27.348.750.000 (Rupiah penuh), yang merupakan 99% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 27,348,750 shares with par value of Rp 1,000 (full Rupiah) per share amounting to Rp 27,348,750,000 (full Rupiah), representing 99% ownership as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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1.b.2. PT Marga Sarana Jabar (MSJ) 1.b.2. PT Marga Sarana Jabar (MSJ)
PT Marga Sarana Jabar merupakan perusahaan patungan antara Perusahaan dan PT Jasa Sarana dalam pengusahaan ruas jalan tol Bogor Outer Ring Road. MSJ didirikan berdasarkan Akta No. 10 tanggal 11 Mei 2007 dari Notaris Iwan Ridwan, SH, dengan modal dasar sebesar Rp 475.000.000.000 (Rupiah penuh), modal ditempatkan dan disetor sebesar Rp 118.750.000.000 (Rupiah penuh) dan telah memperoleh pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Keputusan No. W8-01909 HT.01.01.TH.2007, tanggal 6 Juli 2007 serta diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 82, tanggal 12 Oktober 2007.
PT Marga Sarana Jabar is a joint venture company between the Company and PT Jasa Sarana for development of Bogor Outer Ring Road. MSJ was established based on the Deed No. 10 dated May 11, 2007 of Notary lwan Ridwan, SH, with authorized capital amounting to Rp 475,000,000,000 (full Rupiah), issued and paid in capital amounting to Rp 118,750,000,000 (full Rupiah) and has been approved by the Minister of Law and Human Rights of the Republic of Indonesia through Decree No. W8-01909 HT.01.01.TH.2007 dated July 6, 2007 and announced in State Gazette No. 82 dated October 12, 2007.
Anggaran Dasar MSJ telah beberapa kali mengalami perubahan, dimana terakhir diubah berdasarkan Akta No. 16 tanggal 27 November 2013 yang dibuat dihadapan Notaris Nitra Reza, SH, M.Kn., di Jakarta, sehubungan dengan peningkatan modal disetor. Perubahan anggaran dasar tersebut masih dalam proses pengesahan di Kementerian Hukum dan Hak Asasi Manusia.
MSJ’s article of association has been amended several times, with the most recent change of the article was based on the Deed No. 16 dated November 27, 2013 from Notary Nitra Reza, SH, M.Kn., in Jakarta, in accordance with the increase of paid share capital. The amendment is in the process of authorization from the Ministry of of Law and Human Rights.
MSJ berdomisili di Bogor. MSJ mulai beroperasi secara komersial sejak 23 Nopember 2009.
MSJ is domiciled in Bogor. MSJ started its operation since November 23, 2009.
Perusahaan memiliki 17.832.650 saham dengan nilai nominal Rp 10.000 (Rupiah penuh) per saham atau setara dengan Rp 178.326.500.000 (Rupiah penuh), yang merupakan 55% kepemilikan, dan tambahan modal disetor sebesar Rp 11.000.000.000 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 17,832,650 shares with par value of Rp 10,000 (full Rupiah) per share amounting to Rp 178,326,500,000 (full Rupiah), representing 55% ownership, and additional paid in capital amounting to Rp 11,000,000,000 (full Rupiah) as of December 31, 2014.
1.b.3. PT Trans Marga Jateng (TMJ) 1.b.3. PT Trans Marga Jatenq (TMJ)
PT Trans Marga Jateng merupakan perusahaan patungan antara Perusahaan dan PT Sarana Pembangunan Jawa Tengah dalam rangka pengusahaan ruas tol Semarang-Solo. TMJ didirikan berdasarkan akta notaris No. 27 tanggal 7 Juli 2007 dari Prof. DR. Liliana Tedjosaputro, S.H., M.H., yang kemudian diubah dengan akta notaris No. 84 dari notaris yang sama dan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C-03976 HT.01.01.TH.2007 tanggal 22 Nopember 2007.
PT Trans Marga Jateng is a joint venture company between the Company and PT Sarana Pembangunan Jawa Tengah, aimed to develop Semarang-Solo toll road. TMJ was established based on notarial deed No. 27 dated July 7, 2007 of Prof. DR. Liliana Tedjosaputro, S.H., M.H., which later was amended by notarial deed No. 84 from the same notary and was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. C-03976 HT.01.01.TH.2007 dated November 22, 2007.
TMJ berdomisili di Semarang. TMJ mulai beroperasi secara komersial sejak 17 Nopember 2011.
TMJ is domiciled in Semarang. TMJ started its operation since November 17, 2011.
Perusahaan memiliki 125.800.000 saham dengan nilai nominal Rp 10.000 (Rupiah penuh) per saham atau setara dengan Rp 1.258.000.000.000 (Rupiah penuh), yang merupakan 73,90% kepemilikan, dan tambahan modal disetor sebesar Rp 96.070.000.000 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 125,800,000 shares with par value of Rp 10,000 (full Rupiah) per share amounting to Rp 1,258,000,000,000 (full Rupiah), representing 73.90% ownership, and additional paid in capital amounting to Rp 96,070,000,000 (full Rupiah) as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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1.b.4. PT Marga Trans Nusantara (MTN) 1.b.4. PT Marga Trans Nusantara (MTN)
PT Marga Trans Nusantara didirikan berdasarkan akta notaris No. 8 tanggal 14 Mei 2008 dari Suzy Anggraini Muharam, S.H., dalam rangka pengusahaan ruas tol Kunciran-Serpong. Investasi pada MTN berdasarkan perjanjian antara calon pendirinya dalam akta notaris No. 1 tanggal 11 Pebruari 2008 dari notaris yang sama. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU37791.AH.01.01 Tahun 2008 tanggal 2 Juli 2008, dan diumumkan dalam Berita Negara No.10 tanggal 3 Pebruari 2009.
PT Marga Trans Nusantara was established based on notarial deed No. 8 dated May 14, 2008 of Suzy Anggraini Muharam, S.H., aimed to develop Kunciran-Serpong toll road. The investment in MTN was based on agreement between its candidates founders in notarial deed No. 1 dated February 11, 2008 of the same notary. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU37791.AH.01.01 Year 2008 dated July 2, 2008, and was published in the State Gazette No. 10 dated February 3, 2009.
Anggaran Dasar MTN telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 25 tanggal 19 Agustus 2014 dari Kumala Tjahjani Widodo, S.H., M.H., M.Kn., sehubungan dengan peningkatan modal ditempatkan dan disetor. Akta pendirian tersebut telah mendapat pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No.AHU-06988.40.20.2014 tanggal 26 Agustus 2014.
MTN’s Articles of Association had been amended several times, which the latest was based on notarial deed No.25 dated August 19, 2014 of Kumala Tjahjani Widodo, S.H., M.H., M.Kn., in accordance with the increase of issued and paid in capital. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No.AHU-06988.40.20.2014 dated August 26, 2014.
MTN berdomisili di Tangerang. MTN belum beroperasi secara komersial hingga 31 Desember 2014.
MTN is domiciled in Tangerang. MTN has not started its operation until December 31, 2014.
Perusahaan memiliki 80.280 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 80.280.000.000 (Rupiah penuh), yang merupakan 60% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 80,280 shares with par value of Rp 1,000,000 (full Rupiah) per share amounting to Rp 80,280,000,000 (full Rupiah), representing 60% ownership as of December 31, 2014.
1.b.5. PT Marga Nujyasumo Agung (MNA) 1.b.5. PT Marga Nujyasumo Agung (MNA)
PT Marga Nujyasumo Agung didirikan berdasarkan akta notaris No. 121 tanggal 19 Agustus 1994 dari Sutjipto, S.H., juncto akta notaris No. 177 tanggal 26 Pebruari 1998 dari Rachmat Santoso, S.H., dalam rangka pengusahaan ruas tol Surabaya - Mojokerto.
PT Marga Nujyasumo Agung was established based on notarial deed No. 121 dated August 19, 1994 of Sutjipto, S.H., in conjunction with notarial deed No. 177 dated February 26, 1998 of Rachmat Santoso, S.H., aimed to develop Surabaya - Mojokerto toll road.
Anggaran Dasar MNA telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris Pernyataan Keputusan di Luar Rapat Umum Pemegang Saham No. 6 tanggal 18 November 2013, sehubungan dengan peningkatan modal ditempatkan dan disetor. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.10-50153 Tahun 2013 tanggal 21 November 2013.
MNA’s Articles of Association had been amended several times, which the latest was based on notarial deed Decision Statement in the Off-General Meeting of Shareholders No. 6 dated November 18, 2013, in accordance with the increase of issued and paid in capital. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-AH.01.10-50153 Year 2013 dated November 21, 2013.
MNA berdomisili di Surabaya. MNA mulai beroperasi secara komersial sejak 5 September 2011.
MNA is domiciled in Surabaya. MNA started its operation since September 5, 2011.
Perusahaan memiliki 572.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 572.000.000.000 (Rupiah penuh), yang merupakan 55% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 572,000,000 shares with par value of Rp 1,000 (full Rupiah) per share amounting to Rp 572,000,000,000 (full Rupiah), representing 55% ownership as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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1.b.6. PT Marga Lingkar Jakarta (MLJ) 1.b.6. PT Marga Lingkar Jakarta (MLJ)
PT Marga Lingkar Jakarta didirikan berdasarkan akta notaris No. 26 tanggal 24 Agustus 2009 dari Edi Priyono, S.H., dalam rangka pengusahaan ruas tol Lingkarluar Jakarta Seksi W2 Utara. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Republik Indonesia dalam Surat Keputusan No. AHU-45700.AH.01.01 tanggal 15 September 2009.
PT Marga Lingkar Jakarta was established based on notarial deed No. 26 dated August 24, 2009 of Edi Priyono, S.H., aimed to develop Jakarta Outer Ring Road Section North W2. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-45700.AH.01.01 dated September 15, 2009.
Anggaran Dasar MLJ telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 1 tanggal 4 Pebruari 2014 dari Tatyana Indrati Hasjim, S.H., sehubungan dengan peningkatan modal ditempatkan dan disetor. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.10-4344 Tahun 2014 tanggal 12 Pebruari 2014.
MLJ’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 1 dated February 4, 2014 of Tatyana Indrati Hasjim, S.H., in accordance with the increase of issued and paid in capital. The deed of amendment was approved by the Minister of of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-AH.01.10-4344 Year 2014 dated February 12, 2014.
MLJ berdomisili di Jakarta. MLJ mulai beroperasi secara komersial sejak 4 Januari 2014.
MLJ is domiciled in Jakarta. MLJ started its operation on January 4, 2014.
Perusahaan memiliki 372.922.550 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 372.922.550.000 (Rupiah penuh), yang merupakan 65% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 372,922,550 shares with par value of Rp 1,000 (full Rupiah) per share amounting to Rp 372,922,550,000 (full Rupiah), representing 65% ownership as of December 31, 2014.
1.b.7. PT Transmarga Jatim Pasuruan (TJP) 1.b.7. PT Transmarga Jatim Pasuruan (TJP)
PT Transmarga Jatim Pasuruan didirikan berdasarkan akta notaris No. 57 tanggal 28 Juni 2010 dari Retno Suharti, S.H., dalam rangka pengusahaan ruas tol Gempol-Pasuruan. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU.35558.AH.01.01 Tahun 2010 tanggal 15 Juli 2010.
PT Transmarga Jatim Pasuruan was established based on notarial deed No. 57 dated June 28, 2010 of Retno Suharti, S.H., aimed to develop Gempol-Pasuruan toll road. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU.35558.AH.01 Year 2010 dated Juli 15, 2010.
Anggaran Dasar TJP telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 10 tanggal 15 April 2013 dari Dra. EC. Inggriati Djojoseputro, S.H., sehubungan dengan peningkatan modal ditempatkan dan disetor. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-22281.AH.01.02 Tahun 2013 tanggal 26 April 2013.
TJP’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 10 dated April 15, 2013 of Dra. EC. Inggriati Djojoseputro, S.H., in accordance with the increase of issued and paid in capital. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-22281.AH.01.02 Year 2013 dated April 26, 2013.
TJP berdomisili di Sidoarjo. TJP belum beroperasi secara komersial hingga 31 Desember 2014.
TJP is domiciled in Sidoarjo. TJP has not started its operation until December 31, 2014.
Perusahaan memiliki 26.010.000 saham dengan nilai nominal Rp 10.000 (Rupiah penuh) per saham atau setara dengan Rp 260.100.000.000 (Rupiah penuh), yang merupakan 97,20% kepemilikan, dan tambahan modal disetor sebesar Rp 60.000.000.000 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 26,010,000 shares with par value of Rp 10,000 (full Rupiah) per share amounting to Rp 260,100,000,000 (full Rupiah), representing 97.20% ownership, and additional paid in capital amounting to Rp 60,000,000,000 (full Rupiah) as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 13 Paraf:
1.b.8. PT Marga Kunciran Cengkareng (MKC) 1.b.8. PT Marga Kunciran Cengkareng (MKC)
PT Marga Kunciran Cengkareng didirikan berdasarkan akta notaris No. 7 tanggal 14 Mei 2008 dari Suzy Anggraini Muharam, S.H., dalam rangka pengusahaan ruas tol Kunciran-Cengkareng. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi manusia Republik Indonesia dalam Surat Keputusan No. AHU-04634.AH.01.01 Tahun 2009 tanggal 12 Pebruari 2009.
PT Marga Kunciran Cengkareng was established based on notarial deed No. 7 dated May 14, 2008 of Suzy Anggraini Muharam, S.H., aimed to develop Kunciran-Cengkareng toll road. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-04634.AH.01.01 Year 2009 dated February 12, 2009.
Anggaran Dasar MKC telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 2 tanggal 4 April 2013 dari Efemia Surjawati Salim, S.H., M.Hum.. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-35521.AHA.01.02 Tahun 2013 tanggal 2 Juli 2013.
MKC’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 2 dated April 4, 2013 of Efemia Surjawati Salim, S.H., M.Hum.. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No.AHU-35521.AHA.01.02 Year 2013 dated July 2, 2013.
MKC berdomisili di Tangerang. MKC belum beroperasi secara komersial hingga 31 Desember 2014.
MKC is domiciled in Tangerang. MKC has not started its operation until December 31, 2014.
Perusahaan memiliki 12.616.427 saham dengan nilai nominal Rp 9.100 (Rupiah penuh) per saham atau setara dengan Rp 114.809.485.700 (Rupiah penuh), yang merupakan 76,15% kepemilikan, dan tambahan modal disetor sebesar Rp 20.180.706.000 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 12,616,427 shares at par value of Rp 9,100 (full Rupiah) per share amounting to Rp 114,809,485,700 (full Rupiah), representing 76.15% ownership, and additional paid in capital amounting to Rp 20,180,706,000 (full Rupiah) as of December 31, 2014.
1.b.9. PT Jasa Layanan Pemeliharaan (JLP) (dahulu PT Sarana Marga Utama [SMU])
1.b.9. PT Jasa Layanan Pemeliharaan (JLP) (formerly PT Sarana Marga Utama [SMU])
PT Jasa Layanan Pemeliharaan, dahulu bernama PT Sarana Marga Utama, didirikan berdasarkan akta notaris No. 41 tanggal 26 Agustus 1988 dari Abdul Latif, S.H., dalam rangka pengusahaan jasa konstruksi dan pemeliharaan jalan tol, jasa sewa peralatan tol, serta jasa sewa kendaraan. Akta pendirian disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2.137.HT.01.01-Th.1989 tanggal 10 Pebruari 1989.
PT Jasa Layanan Pemeliharaan, formerly named PT Sarana Marga Utama, was established based on notarial deed No. 41 dated August 26, 1988 of Abdul Latif, S.H., aimed to develop services in toll road construction and maintenance, toll road equipments rental, and vehicles rental. The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia in Decision Letter No. C2.137.HT.01.01-Th.1989 dated February 10, 1989.
Anggaran Dasar JLP telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 9 tanggal 15 Agustus 2014 dari Windalina, S.H., sehubungan dengan pengubahan nama "PT Sarana Marga Utama" menjadi "PT Jasa Layanan Pemeliharaan". Akta perubahaan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AHU-06978.40.20.2014 tanggal 26 Agustus 2014.
JLP’s Articles of Association had been amended several times, which the latest based on notarial deed No. 9 dated August 15, 2014 of Windalina, S.H., concerning the changes of name "PT Sarana Marga Utama" to "PT Jasa Layanan Pemeliharaan". The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-06978.40.20.2014 dated August 26, 2014.
JLP berdomisili di Jakarta. JLP mulai beroperasi
secara komersial sejak 10 Pebruari 1989.
JLP is domiciled in Jakarta. JLP started its operation on February 10, 1989.
Perusahaan memiliki 62.747 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 62.747.000.000 (Rupiah penuh), yang merupakan 99% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 62,747 shares at par value of Rp 1,000,000 (full Rupiah) per share amounting to Rp 62,747,000,000 (full Rupiah), representing 99% ownership as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 14 Paraf:
1.b.10. PT Jasamarga Pandaan Tol (JPT) (sebelumnya PT Margabumi Adhikaraya [MBAR])
1.b.10. PT Jasamarga Pandaan Tol (JPT) (formerly PT Margabumi Adhikaraya [MBAR])
PT Margabumi Adhikaraya didirikan berdasarkan akta notaris No. 142 tanggal 25 September 1996 dari Poerbaningsih Adi Warsito, S.H., dalam rangka pengusahaan ruas tol Gempol - Pandaan.
PT Margabumi Adhikaraya (MBAR) was established based on notarial deed No. 142 dated September 25, 1996 of Poerbaningsih Adi Warsito, S.H., aimed to develop Gempol - Pandaan toll road.
Anggaran Dasar JPT telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta No. 4 tanggal 20 Juni 2013 dari Dra. EC. Inggriati Djojoseputro, S.H., di Surabaya, sehubungan dengan perubahan susunan dewan komisaris dan perubahan nama "PT Margabumi Adhikaraya" menjadi "PT Jasamarga Pandaan Tol". Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-46221.AH.01.02. Tahun 2013 tanggal 3 September 2013.
JPT’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 4 dated June 20, 2013 of Dra. EC. Inggriati Djojoseputro, S.H., in Surabaya, in accordance with the change of board of commissioners and the change of name "PT Margabumi Adhikaraya" to "PT Jasamarga Pandaan Tol". The deed of amendment was approved by the Minister of of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-46221.AH.01.02. Year 2013 dated September 3, 2013.
JPT berdomisili di Surabaya. JPT belum beroperasi secara komersial hingga 31 Desember 2014.
JPT is domiciled in Surabaya. JPT has not started its operation until December 31, 2014.
Perusahaan memiliki 279.450.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 279.450.000.000 (Rupiah penuh), yang merupakan 79,84% kepemilikan, dan tambahan modal disetor sebesar Rp 50.000.000.000 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 279,450,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 279,450,000,000 (full Rupiah), representing 79.84% ownership , and additional paid in capital amounting to Rp 50,000,000,000 (full Rupiah) as of December 31, 2014.
1.b.11. PT Jasamarga Bali Tol (JBT) 1.b.11. PT Jasamarga Bali Tol (JBT)
PT Jasamarga Bali Tol didirikan berdasarkan akta notaris No. 2 tanggal 22 Agustus 2011 dari Paulina S.S. Endah Putri, S.H., dalam rangka pengusahaan ruas tol Nusa Dua-Tanjung Benoa. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-57740.AH.01.01 Tahun 2011 tanggal 25 November 2011.
PT Jasamarga Bali Tol was established based on notarial deed No. 2 dated August 22, 2011 of Paulina S.S. Endah Putri, S.H., aimed to develop Nusa Dua-Tanjung Benoa toll road. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-57740.AH.01.01 Year 2011 dated November 25, 2011.
Anggaran Dasar JBT telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris Pernyataan Keputusan Rapat Umum Pemegang Saham Luar Biasa No. 1 tanggal 17 Oktober 2012 dari Paulina S.S. Endah Putri, S.H.. Akta perubahan disahkan oleh Menteri Hukum dan Ham Republik Indonesia dalam Surat Keputusan No. AHU-62682.AH.01.02 Tahun 2012 tanggal 6 Desember 2012.
JBT’s Articles of Association had been amended several times, which the latest was based on notarial deed Extraordinary General Meeting of Shareholders No. 1 dated October 17, 2012 of Paulina S.S. Endah Putri, S.H.. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-62682.AH.01.02 Year 2012 dated December 6, 2012.
JBT berdomisili di Bali. JBT mulai beroperasi secara komersial tanggal 01 Oktober 2013.
JBT is domiciled in Bali. JBT started its operation on October 01, 2013.
Perusahaan memiliki 409.993 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 409.993.000.000 (Rupiah penuh), yang merupakan 55% kepemilikan, dan tambahan modal disetor sebesar Rp 2.551.744.970 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 409,993 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 409,993,000,000 (full Rupiah), representing 55% ownership, and additional paid in capital amounting to Rp 2,551,744,970 (full Rupiah) as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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1.b.12. PT Jasamarga Properti (JMP) 1.b.12. PT Jasamarga Properti (JMP)
PT Jasamarga Properti didirikan berdasarkan akta notaris No. 2 tanggal 15 Januari 2013 dari Windalina, S.H., dalam rangka pengembangan bisnis properti. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-02309.AH.01.01. Tahun 2013 tanggal 23 Januari 2013.
Anggaran Dasar JMP telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 15 tanggal 23 September 2014 dari Windalina, S.H.
PT Jasamarga Properti was established based on notarial deed No. 2 dated January 15, 2013 of Windalina, S.H., aimed to develop business in property. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-02309.AH.01.01. Year 2013 dated January 23, 2013.
JMP’s Articles of Association had been amended several times, which the last was based on notarial deed No. 15 dated September 23, 2014 of Windalina, S.H.
JMP berdomisili di Jakarta. JMP mulai beroperasi secara komersial tanggal 15 Januari 2013
JMP is domiciled in Jakarta. JMP started its operation on January 15, 2013.
Perusahaan memiliki 63.360 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 63.360.000.000 (Rupiah penuh), yang merupakan 99% kepemilikan, dan tambahan modal disetor sebesar Rp 49.500.000.000 (Rupiah penuh) pada tanggal 31 Desember 2014.
The Company owns 63,360 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 63,360,000,000 (full Rupiah), representing 99% ownership, and additional paid in capital amounting to Rp 49,500,000,000 (full Rupiah) as of December 31, 2014.
1.b.13. PT Jasamarga Kualanamu Tol (JMKT) 1.b.13. PT Jasamarga Kualanamu Tol (JMKT)
PT Jasamarga Kualanamu Tol didirikan berdasarkan akta notaris No. 56 tanggal 25 Nopember 2014 dari Ni Nyoman Rai Sumawati, S.H., M.Kn., dalam rangka pengusahaan ruas tol Medan-Kualanamu-Tebing Tinggi. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-36748.40.10.2014 Tahun 2014 tanggal 27 Nopember 2014.
PT Jasamarga Kualanamu Tol was established based on notarial deed No. 56 dated November 25, 2014 of Ni Nyoman Rai Sumawati, S.H., M.Kn., aimed to develop Medan-Kualanamu-Tebing Tinggi toll road. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. 36748.40.10.2014 Year 2014 dated November 27, 2014.
JMKT berdomisili di Medan. JMKT belum beroperasi secara komersial hingga 31 Desember 2014.
JMKT is domiciled in Medan. JMKT has not started its operation until December 31, 2014.
Perusahaan memiliki 44.000 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 44.000.000.000 (Rupiah penuh), yang merupakan 55% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 44,000 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 44,000,000,000 (full Rupiah), representing 55% ownership as of December 31, 2014.
Jumlah aset dan pendapatan usaha Entitas Anak sebelum jurnal eliminasi adalah sebagai berikut:
Total assets and revenues of the Subsidiaries before elimination journal are as follows:
2014 2013 2014 2013
Perusahaan/ Company Rp Rp Rp Rp
PT Trans Marga Jateng (TMJ) 3,729,259,838 3,407,470,487 228,253,078 671,919,441
PT Marga Nujyasumo Agung (MNA) 2,287,880,479 1,766,141,082 520,334,870 237,954,936
PT Jasamarga Bali Tol (JBT) 2,074,008,392 2,172,599,696 123,050,359 575,693,464
PT Marga Lingkar Jakarta (MLJ) 2,026,712,384 1,846,870,401 375,544,564 564,542,637
PT Jasamarga Pandaan Tol (JPT) 1,153,799,212 801,575,563 369,037,768 443,326,091
PT Marga Kunciran Cengkareng (MKC) 940,950,710 270,393,300 -- --
PT Transmarga Jatim Pasuruan (TJP) 932,902,150 629,222,947 314,905,484 499,556,649
PT Marga Sarana Jabar (MSJ) 860,380,315 896,352,182 132,072,480 336,559,364
Total Aset/Assets Total Pendapatan/Revenues
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 16 Paraf:
2014 2013 2014 2013
Perusahaan/ Company Rp Rp Rp Rp
Total Aset/Assets Total Pendapatan/Revenues
PT Marga Trans Nusantara (MTN) 788,351,072 351,564,379 -- --
PT Jasa Layanan Pemeliharaan (JLP)
(dahulu/ formerly PT Sarana Marga Utama [SMU]) 157,901,987 159,613,693 182,947,762 205,466,019
PT Jalantol Lingkarluar Jakarta (JLJ) 130,890,227 103,281,607 424,727,500 234,499,728
PT Jasamarga Properti (JMP) 120,393,745 63,548,090 1,708,182 --
PT Jasamarga Kualanamu Tol (JMKT) 80,290,790 -- -- --
Dalam laporan keuangan konsolidasian ini, Perusahaan dan entitas anak secara bersama-sama disebut sebagai “Grup”.
In these consolidated financial statements, the Company and its subsidiaries are collectively referred as the “Group”.
1.c. Dewan Direksi, Komisaris, Komite Audit dan Karyawan
1.c. Board of Directors, Commissioners, Audit Committee and Employees
Berdasarkan Risalah Rapat Umum Pemegang Saham Tahunan (RUPST) Perusahaan No. 67/BIII07/III/2014 tanggal 11 Maret 2014 dilakukan Perubahan nomenklatur jabatan Direksi dan pergantian Komisaris Perusahaan, Susunan Direksi dan Komisaris Perusahaan pada tanggal 31 Desember 2014 sebagai berikut:
Based on the Company’s Extraordinary Minutes of Meeting of Shareholders No. 67/BIII07/III/2014 dated March 11, 2014, Changes in the nomenclature of the Company’s Board of Directors and turnover of Commissioners, The Company’s Board of Directors and Commissioners as of December 31, 2014 are as follows:
Direksi/Directors Direktur Utama Ir. Adityawarman President Director Direktur Operasi Ir. Hasanudin, M.Eng.Sc Operation Director Direktur Keuangan Ir. Reynaldi Hermansjah Finance Director Direktur Pengembangan Usaha Ir. Abdul Hadi H.S, MM Business Development Director Direktur Sumber Daya Manusia dan Umum Ir. Muh. Najib Fauzan, Msc Human Capital Affairs Development Director
Komisaris/ Commissioners Komisaris Utama Ir. Agoes Widjanarko, MIP President Commissioner Komisaris Ibnu Purna Muchtar, S.E, MA Commissioner Komisaris Dr. Boediarso Teguh Widodo,M.E. Commissioner Komisaris Prof. Dr. Akhmad Syakhroza Commissioner Komisaris (Komisaris Independen) Mayjen. (Purn) Samsoedin Commissioner (Independent Commissioner)
Komisaris (Komisaris Independen) Irjen Polisi (Purn) Drs. Michael
Dendron Primanto, SH, MH Commissioner (Independent Commissioner)
Berdasarkan Risalah Rapat Umum Pemegang Saham (RUPS) Luar Biasa Perusahaan No. 80 tanggal 30 Juni 2012, susunan Direksi dan Komisaris , Perusahaan pada tanggal 31 Desember 2013 sebagai berikut:
Based on the Company’s Extraordinary Minutes of Meeting of Shareholders No. 80 dated June 30, 2012, the composition of the Company’s Board of Directors and Commissioners as of December 31, 2013 are as follows:
Direksi/Directors Direktur Utama Ir. Adityawarman President Director Direktur Operasi Ir. Hasanudin, M.Eng.Sc. Operation Director Direktur Keuangan Ir. Reynaldi Hermansjah Finance Director Direktur Pengembangan Usaha Ir. Abdul Hadi, H.S, M.M. Business Development Director Direktur Sumber Daya Manusia dan Umum Ir. Muh Najib Fauzan, M.Sc. Human Capital Affairs Development Director Komisaris/ Commissioners Komisaris Utama Ir. Agoes Widjanarko, M.I.P. President Commissioner Komisaris Ibnu Purna Muchtar, S.E., M.A. Commissioner Komisaris Dr. Joyo Winoto Commissioner Komisaris Prof. Dr. Akhmad Syakhroza Commissioner Komisaris (Komisaris Independen) Mayjen. (Purn) Samsoedin Commissioner (Independent Commissioner)
Komisaris (Komisaris Independen) Irjen Polisi (Purn) Drs. Michael Dendron
Primanto, S.H., M.H. Commissioner (Independent Commissioner)
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 17 Paraf:
Berdasarkan Keputusan Komisaris No.KEP-0010/I/2013, tanggal 15 Pebruari 2013, susunan Komite Audit Perusahaan pada 31 Desember 2014 dan 31 Desember 2013 adalah sebagai berikut:
Based on the Decision of the Commissioners No.KEP-0010/I/2013, date February 15, 2013, the composition of the Company's Audit Committee as of December 31, 2014 and December 31, 2013 are as follows:
Komite Audit/ Audit Committee
Ketua Merangkap Anggota Irjen Polisi (Purn) Drs. Michael Dendron Primanto, S.H., M.H.
Chairman and Member
Anggota Ir. Agita Widjajanto, M.Sc. Member
Anggota Drs. Rustam Wahyudi, Ak. Member
Pembentukan Unit Audit Internal Perusahaan berdasarkan Keputusan Direksi Nomor 41/KPTS/2013 tentang Struktur Organisasi Perusahaan. Ketua unit audit internal per 31 Desember 2014 adalah Djoko Dwijono.
Establishment of the company Internal Audit Unit was based on Directors Decree No. 41/KPTS/2013 about the Organizational Structure of the Company. Chairman of the internal audit unit as of December 31, 2014 is Djoko Dwijono.
Penerapan sistem pengendalian internal yang dilakukan oleh Perusahaan mengacu pada Peraturan Meneg BUMN No. PER-01/MBU/2011 tentang Penerapan Tata Kelola Perusahaan yang Baik (Good Corporate Governance) pada Badan Usaha Milik Negara Pasal 26. Unit audit internal merupakan bagian dari sistem pengendalian intern Perusahaan yang didalam pelaksanaan tugas auditnya menggunakan kerangka sistem pengendalian intern COSO (Committee of Sponsoring Organization of the Treadway Commission).
Implementation of internal control systems made by the Company refers to the State Enterprises Minister Regulation No. PER-01/MBU/2011 on the Implementation of Good Corporate Governance (GCG) at the State-owned Enterprise Article 26. Internal audit unit is part of the Company's system of internal control in the execution of audit assignments using the COSO (Committee of Sponsoring Organizations of the Treadway Commission) framework for internal control system.
Berdasarkan Surat Keputusan Direksi No. 102/AA.P-6a/2012 tanggal 31 Agustus 2012, Sekretaris Perusahaan pada 31 Desember 2014 dan 2013 adalah Ir. David Wijayatno.
Based on Decision of the Director No. 102/AA.P-6a/2012 dated August 31 2012, the corporate secretary as of December 31, 2014 and 31, 2013 is Ir. David Wijayatno.
Jumlah karyawan tetap Perusahaan pada 31 Desember 2014 dan 2013 masing-masing sebanyak 4.692 dan 4.875 orang (tidak diaudit).
As of December 31, 2014 and 31, 2013 the Company had total permanent employees of 4,692 and 4,875 person, respectively (unaudited).
1.d.Penawaran Umum Obligasi Perusahaan 1.d. Public Bond Offering
Perusahaan telah menerbitkan obligasi dengan total nilai sebesar Rp 10.523.978.000.000 (Rupiah penuh). Pada 31 Desember 2014, jumlah utang obligasi yang belum dilunasi atau belum jatuh tempo adalah sebesar Rp 6.159.154.384.000 (Rupiah penuh), sedangkan untuk yang telah dilunasi rinciannya sebagai berikut:
The Company issued bonds with total amount of Rp 10,523,978,000,000 (full Rupiah). On December 31, 2014, the total amount of bonds that have not been paid or not yet reached their maturity date amounting to Rp 6,159,154,384,000 (full Rupiah), whereas the details of paid balances are as follows:
Total Tanggal Tanggal
(Rp Juta)/ Tenor Penerbitan/ Jatuh
Par value (Tahun/ Issuance Tempo/
No. Obligasi/ Bonds (Rp Million) Years) Date Maturity Date Status
1. Jasa Marga I(A) 23,718 5 11-Mar-83 11-Mar-88 Lunas/ Paid
2. Jasa Marga II/1 (B) 40,000 5 31-Oct-83 31-Oct-88 Lunas/ Paid
3. Jasa Marga II/2 (C) 20,000 5 02-Jun-84 02-Jun-89 Lunas/ Paid
4. Jasa Marga II/2 (D) 20,000 5 03-May-84 03-May-89 Lunas/ Paid
5. Jasa Marga II/2 (E) 20,000 5 31-Mar-84 31-Mar-89 Lunas/ Paid
6. Jasa Marga III/1 (F/1) 40,000 5 28-Dec-84 28-Dec-89 Lunas/ Paid
7. Jasa Marga III/2 (F/2) 30,000 5 03-Jan-85 03-Jan-90 Lunas/ Paid
8. Jasa Marga IV/1 (G/1) 40,000 5 27-Dec-85 27-Dec-90 Lunas/ Paid
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Total Tanggal Tanggal
(Rp Juta)/ Tenor Penerbitan/ Jatuh
Par value (Tahun/ Issuance Tempo/
No. Obligasi/ Bonds (Rp Million) Years) Date Maturity Date Status
9. Jasa Marga IV/2 (G/2) 60,000 5 24-Mar-86 24-Mar-91 Lunas/ Paid
10. Jasa Marga V/1 (H) 60,000 5 07-Jun-87 07-Jun-92 Lunas/ Paid
11. Jasa Marga V/2 (I) 40,000 5 19-Nov-87 19-Nov-92 Lunas/ Paid
12. Jasa Marga VI/1 (J) 75,000 8 20-Jun-88 20-Jun-96 Lunas/ Paid
13. Jasa Marga VI/2 (K) 50,000 8 02-Jan-89 02-Jan-97 Lunas/ Paid
14. Obligasi Indeks Pendapatan Tahap I /
Fixed Income Index Bonds Phase I 40,000 12 31-Jul-89 31-Jul-01 Lunas/ Paid
15. Obligasi Indeks Pendapatan Tahap II /
Fixed Income Index Bonds Phase II 30,000 12 21-Sep-89 21-Sep-01 Lunas/ Paid
16. Jasa Marga VII (L) 100,000 8 06-Aug-90 06-Aug-98 Lunas/ Paid
17. Jasa Marga VIII (M) 150,000 8 27-Mar-00 27-Mar-08 Lunas/ Paid
18. Jasa Marga IX (N) 400,000 5 04-Dec-02 04-Dec-07 Lunas/ Paid
19. Jasa Marga X (O) 650,000 8 12-Apr-02 12-Apr-10 Lunas/ Paid
20. Jasa Marga XI (P) 1,000,000 10 10-Oct-03 10-Oct-13 Lunas/ Paid
21. Obligasi JORR I 274,260 10 19-Nov-03 19-Nov-13 Lunas/ Paid
22. Obligasi JORR II(A) 78,300 10 01-May-06 01-May-16 Belum Lunas/ Not Yet Paid *)
Obligasi JORR II (B) 78,300 12 01-May-06 01-May-18 Belum Lunas/ Not Yet Paid **)
Obligasi JORR II (C) 104,400 15 01-May-06 01-May-21 Belum Lunas/ Not Yet Paid
23. Jasa Marga XII (0) 1,000,000 10 07-Jun-06 07-Jun-16 Belum Lunas/ Not Yet Paid
24. Jasa Marga XIII (R) 1,500,000 10 21-Jun-07 21-Jun-17 Belum Lunas/ Not Yet Paid
25. Jasa Marga XIV (JM — 10) 1,000,000 10 10-Dec-10 10-Dec-20 Belum Lunas/ Not Yet Paid
26. Jasa Marga I (JM — 10) 500,000 3 10-Dec-10 10-Dec-13 Lunas/ Paid
27 Jasa Marga Seri / Series S A 700,000 1 27-Dec-13 02-Oct-14 Lunas/ Paid
Jasa Marga Seri / Series S B 400,000 3 27-Dec-13 27-Sep-16 Belum Lunas/ Not Yet Paid
Jasa Marga Seri / Series S C 1,000,000 5 27-Dec-13 27-Sep-18 Belum Lunas/ Not Yet Paid
28 Jasa Marga Seri / Series T 1,000,000 5 19-Sep-14 19-Sep-19 Belum Lunas/ Not Yet Paid
*) Dilunasi sebagian pada tanggal 24 Nopember 2008 sebesar/ Paid on November 24, 2008, amounted to Rp 923
**) Dilunasi sebagian pada tanggal 24 Nopember 2008 sebesar/ Paid on November 24, 2008, amounted to Rp 923
1.e. Penawaran Umum Perusahaan 1.e. The Company Initial Public Offering Pada tanggal 1 Nopember 2007, Perusahaan memperoleh pernyataan efektif dari Badan Pengawas Pasar Modal-Lembaga Keuangan (Bapepam-LK), sekarang bernama Otoritas Jasa Keuangan (OJK), melalui Surat No. S-5526/BL/2007, untuk melakukan penawaran umum perdana saham sebanyak 2.040.000.000 saham atas nama Seri B dengan nilai nominal Rp 500 (Rupiah penuh) setiap saham yang berasal dari saham dalam simpanan (portepel) Perusahaan kepada masyarakat, dengan harga penawaran sebesar Rp 1.700 (Rupiah penuh) per saham melalui pasar modal dan dicatatkan pada Bursa Efek Indonesia (BEI).
On November 1, 2007 the Company received the effective statement from the Capital Market and Financial Institutions Supervisory Board (Bapepam-LK), now named Indonesia Financial Services Authority (OJK), by Letter No. S-5526/BL/2007, to perform the initial public offering amounting to 2,040,000,000 of Series B shares with par value of Rp 500 (full Rupiah) per share from the Company porteple shares to the public, at the offering price amounting to Rp 1,700 (full Rupiah) per share through capital market and listed in Indonesia Stock Exchange (IDX).
Dalam kurun waktu sejak penawaran umum perdana sampai dengan tahun pelaporan terakhir Perusahaan melakukan aksi korporasi sebagai berikut:
In the period since its initial public offering until the last reporting period the Company has made the following corporate actions:
1. Pembelian kembali saham Perusahaan pada 24 Oktober 2008 sampai dengan 12 Januari 2009 dilakukan mengingat kondisi pasar saham saat itu berpotensi krisis dimana Indeks Harga Saham
1. Buy back of Company shares on October 24, 2008 until January 12, 2009 was done considering the condition of the stock market potentially crisis where the Composite Stock Price Index (CSPI) Indonesia
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Gabungan (IHSG) Bursa Efek Indonesia (BEI) menurun cukup signifikan sehingga memberikan peluang pada Perusahaan untuk membeli kembali sahamnya dengan memperhatikan kemampuan Perusahaan dan ketentuan yang berlaku. Perusahaan dalam hal ini dibantu oleh PT Bahana Securities sebagai Perusahaan Wakil Perantara Perdagangan Efek. Dana yang dikeluarkan Perusahaan untuk membeli kembali 24.523.500 lembar saham (Treasury Stock) sejumlah Rp 21.837.595.326 (Rupiah penuh).
Stock Exchange (IDX) significantly decreased thus providing an opportunity to the Company to buy back its shares with respect the ability of the Company and applicable regulations. The company in this case aided by PT Bahana Securities as Corporate Broker Securities Trading. Funds issued by the Company to buy back 24,523,500 shares (Treasury Stock) amounting to Rp 21,837,595,326 (full Rupiah).
2. Sesuai dengan Poin 4D Peraturan Bapepam dan LK No. KEP-105/BL/2010, Peraturan XI.B2 perihal Pembelian Kembali Saham yang dikeluarkan oleh Emiten atau Perusahaan Publik, maka treasury stock tersebut telah memasuki periode wajib menjual (sudah dikuasai Perusahaan selama 3 tahun) dan wajib untuk dijual kembali. Perusahaan dalam penjualan kembali saham Treasury dibantu oleh PT Danareksa Sekuritas. Masa penjualan berlangsung dari 5 April 2012 sampai dengan 25 Juni 2012.
2. Based on Point 4D of Bapepam-LK Regulation No. KEP-105/BL/2010, XI.B2 Regulations regarding Buy Back Shares issued by the Issuer or Public Company, the treasury stock has entered a period of obligatory to sell (already held by the Company for 3 years) and mandatory for resale. The Company aided by PT Danareksa Securities in the resale of treasury shares. Sales period was from April 5, 2012 to June 25, 2012.
2. Ikhtisar Kebijakan Akuntansi Signifikan 2. Summary of Significant Accounting Policies
2.a. Pernyataan Kepatuhan 2.a. Statement of Compliance Laporan keuangan konsolidasian ini disusun dan disajikan sesuai dengan Pernyataan Standar Akuntansi Keuangan (“PSAK”) di Indonesia yang ditetapkan oleh Ikatan Akuntan Indonesia dan peraturan Badan Pengawas Pasar Modal-Lembaga Keuangan (Bapepam-LK) No. VIII.G.7 Lampiran Surat Keputusan No. KEP-347/BL/2012 tanggal 25 Juni 2012 tentang Pedoman Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik.
The consolidated financial statements have been prepared and presented in conformity with Indonesian Statements of Financial Accounting Standards (PSAK) established by the Indonesian Institute of Accountants, and Regulation of Capital Market Supervisory Board-Financial Institution No. VIII.G.7 attachment No.KEP-347/BL/2012 dated June 25, 2012 regarding the Guidelines of Presentations and Disclosures of The Financial Statements Issuers or Public Companies.
2.b. Dasar Pengukuran dan Penyusunan Laporan Keuangan Konsolidasian
2.b. Basis of Measurement and Preparation of the Consolidated Financial Statements
Dasar pengukuran dalam penyusunan laporan keuangan konsolidasian ini adalah konsep biaya perolehan (historical cost), kecuali beberapa akun tertentu disusun berdasarkan pengukuran lain sebagaimana diuraikan dalam kebijakan akuntansi masing-masing akun tersebut. Laporan keuangan konsolidasian disusun berdasarkan asumsi kelangsungan usaha serta atas dasar akrual kecuali laporan arus kas konsolidasian.
The basis of measurements in preparation of these consolidated financial statements is historical cost, except for certain accounts which have been prepared on the basis of other measurement as described in the respective accounting policies for those accounts. The consolidated financial statements have been prepared based on going concern assumption and accrual basis except for the consolidated statement of cash flows.
Laporan arus kas konsolidasian disajikan dengan metode langsung (direct method) dengan mengelompokkan arus kas dalam aktivitas operasi, investasi dan pendanaan.
The consolidated statement cash flows are prepared using the direct method by classifying cash flows into the operating, investing and financing activities.
Mata uang fungsional dan penyajian yang digunakan dalam penyusunan laporan keuangan konsolidasian adalah Rupiah (Rp).
The reporting and functional currency used in the preparation of the consolidated financial statements is Rupiah (Rp).
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Perubahan atas Pernyataan Standar Akuntansi Keuangan (“PSAK”) dan Interpretasi Standar Akuntansi Keuangan (“ISAK”)
Changes to the statements of financial accounting standards (“PSAK”) and interpretations of statements of financial accounting standards (“ISAK”)
Penerapan dari perubahan interpretasi standar akuntansi berikut, yang berlaku efektif sejak tanggal 1 Januari 2014, tidak menyebabkan perubahan signifikan atas kebijakan akuntansi Grup dan tidak memberikan dampak yang material terhadap jumlah yang dilaporkan di laporan keuangan konsolidasian: - ISAK 27 (revisi 2013) “Pengalihan aset dari
pelanggan” - ISAK 28 (revisi 2013) “Pengakhiran liabilitas
keuangan dengan instrumen ekuitas”
The adoption of the following revised interpretation of the accounting standards, which are effective from 1 January 2014, did not result in substantial changes to the Group accounting policies and had no material effect on the amounts reported for the current period consolidated financial statements: - ISAK 27 (revised 2013) “Transfer of assets from
customers” - ISAK 28 (revised 2013) “Extinguishing financiall
liabilities with equity Instruments”
2.c. Prinsip-prinsip Konsolidasian 2.c. Principles of Consolidation Laporan keuangan konsolidasian mencakup laporan keuangan Entitas Induk dan Entitas Anak yang dikendalikan secara langsung ataupun tidak langsung oleh Entitas Induk. Entitas anak dikonsolidasikan sejak tanggal di mana pengendalian efektif beralih kepada Entitas Induk dan tidak lagi dikonsolidasikan sejak tanggal Entitas Induk tidak memiliki pengendalian efektif.
The consolidated financial statements incorporate financial statements of the Parent Entity and Subsidiaries, direct and indirectly owned by the Parent Entity. Subsidiaries are fully consolidated from the date of effective control are achieved by the Parent Entity and will be no longer consolidated from the date of the Parent Entity has cease effective controls.
Pengendalian dianggap ada apabila Entitas Induk memiliki baik secara langsung atau tidak langsung melalui Entitas Anak, lebih dari setengah kekuasaan suara pada suatu entitas, kecuali kepemilikan tersebut tidak diikuti dengan pengendalian. Suatu pengendalian juga ada apabila Entitas Induk memiliki setengah atau kurang kekuasaan suara jika terdapat:
Control is presumed to exist when the Parent Entity owns, directly or indirectly through Subsidiaries, more than half of the voting power of an entity unless, except that, such ownership does not constitute control. Control also exists when the parent owns half or less of the voting power of an entity when there is:
1. Kekuasaan yang melebihi setengah hak suara sesuai perjanjian dengan investor lainnya;
1. Power over more than half of the voting rights by virtue of an agreement with other investors;
2. Kekuasaan untuk mengatur kebijakan keuangan dan operasional entitas berdasarkan anggaran dasar atau perjanjian;
2. Power to govern the financial and operating policies of the entity under a statute or an agreement;
3. Kekuasaan untuk menunjuk atau memberhentikan
sebagian besar dewan direksi atau organ pengatur setara dan mengendalikan entitas melalui dewan atau organ tersebut; atau
3. Power to appoint or remove the majority of the members of the board of directors or equivalent governing body and control of the entity is by that board or body; or
4. Kekuasaan untuk memberikan suara mayoritas pada rapat dewan direksi dan dewan komisaris atau organ pengatur setara dan mengendalikan entitas melalui dewan atau organ tersebut.
4. Power to cast the majority of votes at meetings of the board of directors or equivalent governing body and control of the entity is by that board or body.
Laporan keuangan konsolidasian harus disusun dengan basis yang sama yaitu; kebijakan akuntansi yang sama untuk transaksi, peristiwa dan keadaan yang sama. Kebijakan tersebut telah diterapkan secara konsisten oleh Entitas Anak, kecuali dinyatakan secara khusus.
The consolidated financial statements are prepared using uniform basis, i.e.: similar accounting policy for similar transactions, events and circumstances. The policy has been applied consistently by Subsidiaries, unless otherwise stated.
Dalam menyusun laporan keuangan konsolidasian, laporan keuangan Entitas Induk dan Entitas Anak digabungkan secara baris per baris yakni dengan menjumlahkan satu persatu unsur-unsur sejenis dari aset, liabilitas, ekuitas, pendapatan dan beban. Seluruh saldo akun dan transaksi yang material antara Perusahaan dengan Entitas Anak telah dieliminasi.
In preparing the consolidated financial statements, the financial statements of the Parent Company and Subsidiaries are combined on a line by line basis by adding together similar elements of assets, liabilities, equity, income and expenses. All balances and material transactions between the Parent Company and the Subsidiaries have been eliminated.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Akun "Kepentingan Non-Pengendali" pada laporan posisi keuangan konsolidasian merupakan hak pemegang saham non pengendali pada Entitas Anak tersebut. Kepentingan non pengendali atas laba (rugi) bersih Entitas Anak pada laporan laba rugi komprehensif konsolidasian disajikan sebagai “Laba/Rugi Tahun Berjalan yang Dapat Diatribusikan kepada Kepentingan Non Pengendali”.
The account of “Non Controlling Interests” in consolidated financial statement is represents interest of the minority shareholders in the Subsidiaries. Non controlling interest in net income (loss) of Subsidiaries in the consolidated statement of comprehensive income is presented as “Current Year Profit/Loss Attributable to Non Controlling Interest”.
Rugi Entitas Anak yang tidak dimiliki secara penuh diatribusikan pada kepentingan non pengendali bahkan jika hal ini mengakibatkan kepentingan non pengendali mempunyai saldo defisit.
Losses of non-wholly owned Subsidiary are attributed to the non controlling interest even if the non controlling interest results in deficit balance.
2.d. Instrumen Keuangan 2.d. Financial Instruments PSAK 60 yang berlaku efektif 1 Januari 2013 memperkenalkan pengungkapan baru untuk meningkatkan informasi mengenai instrumen keuangan. PSAK ini mewajibkan pengungkapan secara luas mengenai signifikansi pengaruh instrumen keuangan terhadap posisi keuangan dan kinerja Perusahaan, dan pengungkapan kuantitatif dan kualitatif atas risiko yang timbul dari instrumen keuangan, serta menentukan pengungkapan minimum mengenai risiko kredit, risiko likuiditas dan risiko pasar. PSAK ini juga mewajibkan pengungkapan terkait dengan pengukuran nilai wajar menggunakan tiga tingkat hierarki nilai wajar dimana mencerminkan signifikansi input yang digunakan dalam mengukur nilai wajar dan memberikan arahan dalam bentuk pengungkapan kuantitatif mengenai pengukuran nilai wajar dan mewajibkan informasi yang diungkapkan dalam format tabel kecuali terdapat lain yang lebih sesuai.
PSAK 60 which effectively applied on January 1, 2013 introduces new disclosures to improve the information about financial instruments. It requires extensive disclosures about the significance of financial instruments for an entity’s financial position and performance, and quantitative and qualitative disclosures on the nature and extent of risks arising from financial instruments, including specified minimum disclosures about credit risk, liquidity risk and market risk, as well as sensitivity analysis to market risk. It also requires disclosures relating to fair value measurements using a three-level fair value hierarchy that reflects the significance of the inputs used in measuring fair values and provides more direction in the form of quantitative disclosures about fair value measurements and requires information to be disclosed in a tabular format unless another format is more appropriate.
Aset Keuangan Aset keuangan dikelompokkan menjadi 4 kategori, yaitu (i) aset keuangan yang diukur pada nilai wajar melalui laba rugi, (ii) pinjaman yang diberikan dan piutang, (iii) investasi yang dimiliki hingga jatuh tempo serta (iv) aset keuangan yang tersedia untuk dijual. Klasifikasi ini tergantung dari tujuan perolehan aset keuangan tersebut. Manajemen menentukan klasifikasi aset keuangan tersebut pada saat awal pengakuannya.
Financial Assets Financial assets are classified into 4 categories, i.e., (i) financial assets at fair value through profit or loss, (ii) loans and receivables, (iii) held-to-maturity financial assets and (iv) available-for-sale financial assets. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition.
(i) Aset keuangan yang diukur pada nilai wajar melalui laba rugi
(i) Financial assets at fair value through profit or loss
Aset keuangan yang diukur pada nilai wajar melalui laba rugi adalah aset keuangan yang ditujukan untuk diperdagangkan. Aset keuangan diklasifikasikan sebagai diperdagangkan jika diperoleh terutama untuk tujuan dijual atau dibeli kembali dalam waktu dekat dan terdapat bukti mengenai pola ambil untung dalam jangka pendek yang terkini. Derivatif diklasifikasikan sebagai aset diperdagangkan kecuali telah ditetapkan dan efektif sebagai instrumen lindung nilai.
Financial assets at fair value through profit or loss are financial assets which are held for trading. Financial asset is classified as held for trading if it is acquired principally for the purpose of selling or repurchasing it in the near term and for which there is evidence of recent actual pattern of short term profit taking. Derivatives are also categorized as held for trading unless they are designated and effective as hedging instruments.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pada saat pengakuan awal, aset keuangan yang diukur pada nilai wajar melalui laba rugi diukur pada nilai wajarnya. Biaya transaksi sehubungan dengan perolehannya diakui pada laporan laba rugi periode berjalan. Kenaikan atau penurunan nilai wajar selanjutnya diakui pada laporan laba rugi.
At initial recognition, financial assets at fair value through profit or loss are measured at fair value. Transaction costs related to the acquistion are recognised in the current period profit or loss. Subsequent increase or decrease in fair value is recognised in profit or loss.
Grup tidak mempunyai aset keuangan yang diklasifikasikan sebagai aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi.
The Group has no financial asset classified as financial assets at fair value through profit or loss.
(ii) Pinjaman yang diberikan dan piutang (ii) Loans and receivables Pinjaman yang diberikan dan piutang adalah aset keuangan non derivatif dengan pembayaran tetap atau telah ditentukan dan tidak mempunyai kuotasi di pasar aktif. Pada saat pengakuan awal, pinjaman yang diberikan dan piutang diakui pada nilai wajarnya ditambah biaya transaksi dan selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loan and receivables are initially recognized at fair value plus transaction cost and subsequently measured at amortized cost using the effective interest rate method.
Grup mempunyai kas dan setara kas, piutang lain-lain dan dana ditetapkan penggunaannya yang diklasifikasikan sebagai pinjaman yang diberikan dan piutang.
The Group has cash and cash equivalents, other receivables and appropriated funds, are classified as loans and receivables.
(iii) Investasi yang dimiliki hingga jatuh tempo (iii) Held to maturity financial asset Investasi yang dimiliki hingga jatuh tempo adalah investasi non-derivatif dengan pembayaran tetap atau telah ditentukan dan jatuh temponya telah ditetapkan, dimana manajemen mempunyai intensi positif dan kemampuan untuk memiliki aset keuangan tersebut hingga jatuh tempo, selain:
Held-to-maturity financial assets are nonderivative financial assets with fixed or determinable payments and fixed maturities that management has the positive intention and ability to hold to maturity, other than:
a) Investasi yang pada saat pengakuan awal ditetapkan sebagai aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi;
a) Those that are designated as at fair value through profit or loss upon initial recognition;
b) Investasi yang ditetapkan dalam kelompok
tersedia untuk dijual; dan b) Those that are designated as available for sale;
and c) Investasi yang memenuhi definisi pinjaman yang
diberikan dan piutang. c) Those that meet definition of loans and
receivable.
Pada saat pengakuan awal, investasi yang dimiliki hingga jatuh tempo diakui pada nilai wajarnya ditambah biaya transaksi dan selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
At initial recognition, HTM investments are recognized at fair value plus transaction costs and are subsequently measured at amortized cost using the effective interest rate method.
Grup tidak mempunyai aset keuangan yang diklasifikasikan sebagai investasi dimiliki hingga jatuh tempo.
The Group has no financial assets classified as investments held to maturity.
(iv) Aset keuangan tersedia untuk dijual (iv) Available for sales financial assets Aset keuangan dalam kelompok tersedia untuk dijual adalah aset keuangan non-derivatif yang ditetapkan untuk dimiliki selama periode tertentu, dimana akan dijual dalam rangka pemenuhan likuiditas atau perubahan suku bunga, valuta asing atau yang tidak diklasifikasikan sebagai pinjaman yang diberikan atau piutang, investasi yang diklasifikasikan dalam
Available-for-sale financial assets are non derivative financial assets that are intended to be held for indefinite period of time, which might be sold in response to needs for liquidity or changes in interest rates, exchange rates or that are not classified as loans and receivables, held-to-maturity investments or financial assets at fair value through profit or loss.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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kelompok dimiliki hingga jatuh tempo atau aset keuangan yang diukur pada nilai wajar melalui laba rugi.
Pada saat pengakuan awal, aset keuangan AFS diakui pada nilai wajarnya ditambah biaya transaksi dan selanjutnya diukur pada nilai wajarnya dimana laba atau rugi diakui sebagai pendapatan komperhensif lain kecuali untuk kerugian penurunan nilai dan laba rugi dari selisih kurs hingga aset keuangan dihentikan pengakuannya.
At initial recognition, AFS financial assets are recognized at fair value plus transaction costs and are subsequently measured at fair value where any gain or loss is recognized at other comprehensive income, except for impairment loss and foreign exchange up to the financial assets are derecognized.
Grup mempunyai aset keuangan yang diklasifikasikan sebagai aset keuangan tersedia untuk dijual yaitu investasi jangka pendek dan investasi pada saham yang tidak tersedia nilai wajarnya dengan kepemilikan kurang dari 20% dan aset keuangan lainnya yang dicatat pada biaya perolehannya.
The Group has financial assets classified as of available for sale which are short term investment and investment in shares with ownership interest of less than 20% that do not have readily determinable its fair values and other financial assets which are stated at cost (the cost method).
Penurunan Nilai Aset Keuangan Impairment of Financial Assets Aset keuangan, selain aset keuangan FVTPL, dievaluasi terhadap indikator penurunan nilai pada setiap tanggal laporan posisi keuangan. Aset keuangan diturunkan nilainya bila terdapat bukti objektif, sebagai akibat dari satu atau lebih peristiwa yang terjadi setelah pengakuan awal aset keuangan, dan peristiwa yang merugikan tersebut berdampak pada estimasi arus kas masa depan atas aset keuangan yang dapat diestimasi secara handal. Untuk investasi ekuitas AFS yang tercatat dan tidak tercatat di bursa, penurunan yang signifikan atau jangka panjang pada nilai wajar dari investasi ekuitas di bawah biaya perolehannya dianggap sebagai bukti obyektif penurunan nilai.
Financial assets, other than those at FVTPL, are assessed for indicators of impairment at each financial position’s reporting date. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted. For quoted and unquoted equity investments classified as AFS, a significant or prolonged decline in the fair value of the equity investment below its cost is considered to be an objective evidence of impairment.
Beberapa bukti objektif penurunan nilai termasuk sebagai berikut: • kesulitan keuangan signifikan yang dialami
penerbit atau pihak peminjam; atau • pelanggaran kontrak, seperti terjadinya
wanprestasi atau tunggakan pembayaran pokok atau bunga; atau
• terdapat kemungkinan bahwa pihak peminjam akan dinyatakan pailit atau melakukan reorganisasi keuangan.
Some objective evidence for impairment value are as follows: • significant financial difficulty of the issuer or
counterparty; or • a breach of contract, such as default or
delinquency in interest or principal payments; or • it becoming probable that the borrower will enter
bankruptcy or financial reorganization.
Untuk kelompok aset keuangan tertentu, seperti piutang, penurunan nilai aset dievaluasi secara individual. Bukti objektif dari penurunan nilai portofolio piutang dapat termasuk pengalaman Grup atas tertagihnya piutang di masa lalu, peningkatan keterlambatan penerimaan pembayaran piutang dari rata-rata periode kredit, dan juga pengamatan atas perubahan kondisi ekonomi nasional atau lokal yang berkorelasi dengan default atas piutang.
For certain categories of financial asset, such as receivables, the impairment value of assets are assessed individually. Objective evidence of impairment for a portfolio of receivables could include the Group’s past experience of collecting payments, an increase in the number of delayed payments in the portfolio past the average credit period as well as, and observable changes in the national or local economic conditions that correlate with default on receivables.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Untuk aset keuangan yang diukur pada biaya perolehan yang diamortisasi, jumlah kerugian penurunan nilai merupakan selisih antara nilai tercatat aset keuangan dengan nilai kini dari estimasi arus kas masa datang yang didiskontokan menggunakan tingkat suku bunga efektif awal dari aset keuangan.
For financial assets carried at amortised cost, the amount of impairment is the difference between the assets’s carrying amount and the present value of estimated future cash flows, discounted at the financial assets’s original effective interest rate.
Nilai tercatat aset keuangan tersebut dikurangi dengan kerugian penurunan nilai secara langsung atas aset keuangan, kecuali piutang yang nilai tercatatnya dikurangi melalui penggunaan akun penyisihan piutang. Jika piutang tidak tertagih, piutang tersebut dihapuskan melalui akun penyisihan piutang. Pemulihan kemudian dari jumlah yang sebelumnya telah dihapuskan dikreditkan terhadap akun penyisihan. Perubahan nilai tercatat akun penyisihan piutang diakui dalam laporan laba rugi.
The carrying amount of the financial asset is directly reduced by the amount of impairment loss for all financial assets with the exception of receivables, where the carrying amount is reduced through the use of an allowance account. When a receivable is considered uncollectible, it is written-off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in the statement of income.
Jika aset keuangan AFS dianggap menurun nilainya, keuntungan atau kerugian kumulatif yang sebelumnya telah diakui dalam ekuitas direklasifikasi ke laporan laba rugi dalam periode yang bersangkutan.
When an AFS financial asset is considered to be impaired, cumulative gains or losses previously recognized in equity are reclassified to the statement of income in the current period.
Pengecualian dari instrumen ekuitas AFS, jika, pada periode berikutnya, jumlah penurunan nilai berkurang dan penurunan dapat dikaitkan secara obyektif dengan sebuah peristiwa yang terjadi setelah penurunan nilai tersebut diakui, kerugian penurunan nilai yang sebelumnya diakui dipulihkan melalui laporan laba rugi hingga nilai tercatat investasi pada tanggal pemulihan penurunan nilai tidak melebihi biaya perolehan diamortisasi sebelum pengakuan kerugian penurunan nilai dilakukan.
With the exception of AFS equity instruments, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment on the date of the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized.
Dalam hal instrumen ekuitas AFS, kerugian penurunan nilai yang sebelumnya diakui dalam laporan laba rugi tidak boleh dipulihkan melalui laporan laba rugi. Setiap kenaikan nilai wajar setelah penurunan nilai diakui secara langsung ke ekuitas.
In respect of AFS equity instrument, impairment losses previously recognized in the statement of income are not reversed through profit or loss. Any increase in fair value subsequent to an impairment loss is recognized directly in equity.
Liabilitas Keuangan Financial Liabilities Liabilitas keuangan dikelompokkan kedalam kategori (i) Liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi dan (ii) liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi.
Financial liabilities are classified into (i) financial liabilities are measured at fair value through profit or loss, (ii) financial liabilities are measured at amortized cost.
a. Liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi
a. Financial liabilities are measured at fair value through profit or loss
Nilai wajar liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi adalah liabilitas keuangan yang ditujukan untuk diperdagangkan. Liabilitas keuangan diklasifikasikan sebagai diperdagangkan jika diperoleh terutama untuk tujuan dijual atau dibeli kembali dalam waktu
The fair value of financial liabilities measured at fair value through profit and loss is financial liabilities that are designated for trading. Financial liabilities are classified as trading if acquired primarily for the purpose of sale or repurchase in the near future and there is evidence of a recent actual pattern of
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dekat dan terdapat bukti mengenai pola ambil untung dalam jangka pendek terkini. Derivatif diklasifikasikan sebagai liabilitas diperdagangkan kecuali ditetapkan dan efektif sebagai instrumen lindung nilai.
short term profit taking. Derivatives are classified as trading liabilities except and effective as hedging instruments.
Pada saat pengakuan awal, liabilitas keuangan yang diukur pada FVTPL diakui pada nilai wajarnya. Biaya transaksi sehubungan dengan penerbitannya diakui pada laporan laba rugi periode berjalan. Kenaikan atau penurunan nilai wajar selanjutnya diakui pada laporan laba rugi.
At initial recognition, financial liabilities measured at FVTPL are measured at fair value. Transaction costs related to the issuance are recognised in the current period profit or loss. Subsequent increase or decrease in fair value is recognised in profit or loss.
Grup tidak memiliki liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi.
The Group has no financial liabilities at fair value through profit or loss.
b. Liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi
b. Financial liabilities are measured at amortized cost.
Liabilitas keuangan yang tidak diklasifikasikan sebagai liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi dikategorikan dan diukur dengan biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
Financial liabilities that not classified as financial liabilities measured at fair value through profit or loss are classified in this category and are measured at amortized cost using effective interest method.
Liabilitas keuangan diakui awalnya pada nilai wajar setelah dikurangi biaya transaksi yang dapat diatribusikan secara langsung dalam hal liabilitas keuangan selain derivatif.
Financial liabilities are recognized initially at fair value net of transaction costs that are directly attributable to financial liabilities other than derivatives.
Setelah pengakuan awal, utang bank dan utang pembiayaan/liabilitas lancar lainnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif. Keuntungan atau kerugian diakui pada laba rugi komprehensif ketika liabilitas dihentikan pengakuannya dan melalui proses amortisasi.
After initial recognition, bank debt and debt financing/other current liabilities are measured at amortized cost using the effective interest method. Gains or losses are recognized in profit or loss when the liabilities are derecognized, and through the amortization process.
Grup memiliki utang usaha, utang kontraktor, utang lain-lain, beban akrual, utang bank, utang obligasi, utang bantuan pemerintah, utang kerjasama operasi, utang pembebasan tanah dan utang sewa pembiayaan yang diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi.
The Group has account payables, contractor payables, other payables, accrued expenses, bank loans, bond payables, loans from government, liabilities under joint operation agreements, land acquisition liabilities and capital lease payable that classified as financial liabilities are measured at amortized cost.
Instrumen Ekuitas Equity Instrument Instrumen ekuitas merupakan setiap kontrak yang memberikan hak residual atas aset suatu entitas setelah dikurangi dengan seluruh liabilitas.
Equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all liabilities.
Biaya transaksi yang timbul dari transaksi ekuitas dicatat sebagai pengurang ekuitas (setelah dikurangi manfaat pajak penghasilan terkait), sepanjang biaya tersebut merupakan biaya tambahan yang dapat diatribusikan secara langsung dengan ekuitas, namun diabaikan jika tidak dapat diatribusikan secara langsung.
Transaction costs arising from equity transactions are recorded as a deduction from equity (net of related income tax benefit), provided that such costs are additional costs that are directly attributable to the equity, but ignored if it is not directly attributable.
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Metode saham diperoleh kembali dicatat menggunakan metode biaya (cost method) sebesar nilai perolehan, disajikan sebagai pengurang akun Modal Saham.
Treasury share methods recorded the cost method amounted at cost, are presented as a deduction from Capital Stock account.
Estimasi nilai wajar Fair Value Estimate Nilai wajar aset dan liabillitas keuangan diestimasi untuk keperluan pengakuan dan pengukuran atau untuk keperluan pengungkapan.
The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes.
PSAK No. 60 “Instrumen Keuangan: Pengungkapan” mensyaratkan pengungkapkan atas pengukuran nilai wajar dengan tingkat hirarki nilai wajar sebagai berikut:
PSAK No. 60, ”Financial Instruments: Disclosures” requires disclosure of fair value measurements by level of the following fair value measurement hierarchy:
(i) harga kuotasian (tidak disesuaikan) dalam pasar aktif untuk aset atau liabilitas yang identik (Tingkat 1)
(i) quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1)
(ii) input selain harga kuotasian yang termasuk dalam Tingkat 1 yang dapat diobservasi untuk aset atau liabilitas, baik secara langsung (misalnya harga) atau secara tidak langsung (misalnya derivasi dari harga) (Tingkat 2), dan
(ii) inputs other than quoted prices included within Level 1 that are observable for the asset orliability, either directly (as prices) or indirectly (derived from prices) (Level 2), and
(iii) input untuk aset atau liabilitas yang bukan berdasarkan data pasar yang dapat diobservasi (input yang tidak dapat diobservasi) (Tingkat 3).
(iii) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3).
Nilai wajar untuk instrumen keuangan yang diperdagangkan di pasar aktif ditentukan berdasarkan kuotasi nilai pasar pada tanggal pelaporan. Kuotasi nilai pasar yang digunakan Grup untuk aset keuangan adalah harga penawaran (bid price), sedangkan untuk liabilitas keuangan menggunakan harga jual (ask price). Instrumen keuangan ini termasuk dalam Tingkat 1.
The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. The quoted market price used for financial assets held by the Group is the current bid price, while financial liabilities use ask price. These instruments are included in Level 1.
Nilai wajar instrumen keuangan yang tidak diperdagangkan di pasar aktif ditentukan dengan menggunakan teknik penilaian tertentu. Teknik tersebut menggunakan data pasar yang dapat diobservasi sepanjang tersedia, dan seminimal mungkin tidak mengacu pada estimasi. Apabila seluruh input signifikan atas nilai wajar dapat diobservasi, instrumen keuangan ini termasuk dalam Tingkat 2.
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques maximize the use of observable market data where it is available and rely as minimum as possible on estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.
Jika satu atau lebih input yang signifikan tidak berdasarkan data pasar yang dapat diobservasi, maka instrumen tersebut masuk ke dalam Tingkat 3. Ini berlaku untuk surat-surat berharga ekuitas yang tidak diperdagangkan di bursa.
If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. This is the case for unlisted equity securities.
Teknik penilaian tertentu digunakan untuk menentukan nilai instrumen keuangan mencakup:
Specific valuation techniques used to value financial instruments include:
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penggunaan harga yang diperoleh dari bursa atau pedagang efek untuk instrumen sejenis; dan
teknik lain, seperti analisis arus kas yang didiskonto digunakan untuk menentukan nilai instrumen keuangan lainnya.
the use of quoted market prices or dealer quotes for similar instruments; and
other techniques, such as discounted cash flow analysis, are used to determine fair value for the remaining financial instruments.
Saling Hapus Instrumen Keuangan Offsetting of Financial Instruments Aset keuangan dan liabilitas keuangan saling hapus buku dan nilai netonya disajikan dalam laporan posisi keuangan konsolidasian jika memiliki hak yang berkekuatan hukum untuk melakukan saling hapus buku atas jumlah yang telah diakui tersebut dan berniat untuk menyelesaikan secara neto atau untuk merealisasikan aset dan menyelesaikan liabilitasnya secara simultan.
Financial assets and financial liabilities are offset and its net amount presented in the consolidated statement of financial position only if it has a legally enforceable right to set off the recognized amount; and intends either to settle on a net basis or to realize the assets and settle liabilities simultaneously.
Penghentian Pengakuan Derecognition Penghentian pengakuan aset keuangan dilakukan ketika hak kontraktual atas arus kas yang berasal dari aset keuangan tersebut berakhir atau ketika aset keuangan tersebut telah ditransfer dan secara substansial seluruh risiko dan manfaat atas kepemilikan aset telah ditransfer (jika secara substansial seluruh risiko dan manfaat tidak ditransfer, maka Grup akan melakukan evaluasi untuk memastikan keterlibatan berkelanjutan atas kontrol yang masih dimiliki tidak mencegah penghentian pengakuan).
Derecognition of a financial asset when the contractual rights to the cash flows from the financial asset expire or when the financial asset has been transferred and substantially all the risks and rewards of ownership have been transferred (if, substantially all the risks and rewards are not transferred, then the Group will conduct an evaluation to ensure ongoing involvement of the controls which are still not prevent derecognition).
Liabilitas keuangan dihentikan pengakuannya ketika liabilitas yang ditetapkan dalam kontrak dihentikan atau dibatalkan atau kadaluwarsa. Jika liabilitas keuangan yang ada digantikan dengan liabilitas lain dari pemberi pinjaman yang sama dengan persyaratan yang berbeda secara substansial, atau persyaratan dari liabilitas yang ada telah dimodifikasi secara substansial, pertukaran atau modifikasi tersebut diperlakukan sebagai penghentian pengakuan liabilitas awal dan pengakuan atas liabilitas baru, dan selisih antara masing-masing nilai tercatat liabilitas keuangan diakui dalam laporan laba rugi komprehensif.
Financial liabilities are derecognized when the liability specified in the contract is discharged or canceled or expire. If an existing financial liability is replaced by another liability from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of original liabilities and the recognition of a new liability, and the difference between the carrying amount of each financial liabilities are recognized in the statement of comprehensive income.
Metode Suku Bunga Efektif Effective Interest Method Metode suku bunga efektif adalah metode yang digunakan untuk menghitung biaya perolehan diamortisasi dari instrumen keuangan dan metode untuk mengalokasikan pendapatan bunga selama periode yang relevan. Suku bunga efektif adalah suku bunga yang secara tepat mendiskontokan estimasi penerimaan kas di masa datang (mencakup seluruh komisi dan bentuk lain yang dibayarkan dan diterima oleh para pihak dalam kontrak yang merupakan bagian yang tak terpisahkan dari suku bunga efektif, biaya transaksi dan premium dan diskonto lainnya) selama perkiraan umur instrumen keuangan, atau, jika lebih tepat, digunakan periode yang lebih singkat untuk memperoleh nilai tercatat bersih dari aset keuangan pada saat pengakuan awal.
The effective interest method is a method of calculating the amortized cost of a financial instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and others paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial instrument, or, where appropriate, a shorter period to the net carrying amount on initial recognition.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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2.e. Kas dan Setara Kas 2.e. Cash and Cash Equivalents Setara kas meliputi deposito jangka pendek yang jangka waktunya sama dengan atau kurang dari 3 (tiga) bulan sejak tanggal penempatannya dan tidak dijaminkan serta tidak dibatasi penggunaannya.
Cash equivalents consist of short-term deposits with maturities equal to 3 (three) months or less since the date of placement and are not pledged as collateral and not restricted.
2.f. Penurunan Nilai Aset Non Keuangan 2.f. Impairment of Non Financial Assets Pada setiap tanggal laporan posisi keuangan, Grup mereviu nilai tercatat aset non keuangan untuk menentukan ada tidaknya indikasi penurunan nilai aset. Dalam menilai apakah terdapat indikasi bahwa aset mungkin mengalami penurunan nilai, entitas harus mempertimbangkan informasi dari sumber eksternal maupun informasi dari sumber internal untuk menentukan adanya indikasi tersebut. Jika terdapat indikasi penurunan nilai aset, jumlah yang terpulihkan dari aset tersebut diestimasi untuk menentukan besarnya jumlah penurunan nilai aset, jika ada. Jika estimasi jumlah terpulihkan tidak dapat dilakukan secara individual, Grup melakukan estimasi jumlah terpulihkan dari unit penghasil kas dimana aset tersebut berada.
At each statement of financial position date, the Group reviews the carrying amounts of their nonfinancial assets to determine whether there is any indication that those assets have suffered an impairment loss. In assesing whether there is any indication that an assets may be impaired, an entity shall consider from external and internal sources of information. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimate the recoverable amount of the cash-generating unit to which the asset belongs.
Jika suatu jumlah terpulihkan dari suatu aset atau unit penghasil kas ditaksir lebih kecil dari nilai tercatatnya, nilai tercatat aset tersebut atau unit penghasil kasnya harus diturunkan menjadi sebesar jumlah terpulihkan. Rugi penurunan nilai aset segera diakui sebagai beban pada laporan laba rugi komprehensif, kecuali aset tersebut dicatat dengan metode revaluasi, maka rugi penurunan nilai diperlakukan sebagai penurunan revaluasi dan diakui sebagai rugi pada laporan laba rugi komprehensif konsolidasian.
If the recoverable amount of the asset or cash-generating unit is estimated to be less than its carrying amount, the carrying amount of the asset or cash-generating unit is reduced to its recoverable amount. An impairment loss is recognized immediately in statements of comprehensive income, unless the relevant asset is carried at revaluation model, in which case the impairment loss is treated as a revaluation decrease and is recognized as loss in the consolidated statements of comprehensive income.
Kerugian penurunan nilai yang telah diakui dalam tahun sebelumnya untuk aset selain goodwill dibalik hanya jika terdapat perubahan asumsi-asumsi yang digunakan untuk menentukan jumlah terpulihkan aset tersebut sejak rugi penurunan nilai terakhir diakui. Dalam hal ini, jumlah tercatat aset dinaikkan ke jumlah terpulihkannya. Pembalikan tersebut dibatasi sehingga jumlah tercatat aset tidak melebihi jumlah terpulihkannya maupun jumlah tercatat, setelah penyusutan, seandainya tidak ada rugi penurunan nilai yang telah diakui untuk aset tersebut pada tahun sebelumnya.
A previously recognized impairment loss for an asset other than goodwill is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceeds the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior year.
Pembalikan rugi penurunan nilai diakui dalam laporan laba rugi komprehensif konsolidasian. Setelah pembalikan tersebut, penyusutan aset tersebut disesuaikan di tahun mendatang untuk mengalokasikan jumlah tercatat aset yang direvisi, dikurangi nilai sisanya, dengan dasar yang sistematis selama sisa umur manfaatnya.
Reversal of an impairment loss is recognized in the consolidated statements of comprehensive income. After such a reversal, the depreciation charge on the said asset is adjusted in future years to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life.
2.g. Biaya Dibayar Dimuka 2.g. Prepaid Expense Biaya dibayar di muka dibebankan dalam laporan laba rugi sesuai masa manfaatnya.
Prepaid expenses are charged to the statements of income in accordance with the beneficial periods.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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2.h. Aset Tetap 2.h. Property and Equipment Aset tetap pada awalnya diakui sebesar harga perolehan. Setelah pengakuan awal, dipertanggung-jawabkan dengan menggunakan model biaya dan dinyatakan sebesar harga perolehan dikurangi dengan akumulasi penyusutan dan penyisihan penurunan nilai.
Property and equipment, initially stated at acquisition cost. After initial recognition, measured based on cost method and stated at cost less accumulated depreciation and provision for impairment.
Aset tetap disusutkan dengan menggunakan metode garis lurus (straight line method) sepanjang estimasi masa manfaatnya sebagai berikut:
Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets as follows:
Tahun/ Years
Gedung Kantor dan Bangunan Lain 20 Office and Other Buildings Peralatan Operasional dan Kantor 3-5 Operational and Office Equipment Kendaraan Bermotor 3-5 Vehicles
Hak atas tanah dinyatakan sebesar biaya perolehan dan tidak disusutkan.
Land rights is stated at cost and not depreciated.
Biaya pemeliharaan dan perbaikan dibebankan ke dalam Iaporan laba rugi pada saat terjadinya, sedangkan pemugaran dan penambahan dalam jumlah material dikapitalisasi.
The cost of maintenance and repairs is charged to the statements of income as incurred, significant renewals and betterment are capitalized.
Aset tetap dalam penyelesaian disajikan sebagai bagian dalam aset tetap dan dinyatakan sebesar biaya perolehan. Semua biaya, termasuk biaya pinjaman, yang terjadi sehubungan dengan pembangunan aset tersebut dikapitalisasi sebagai bagian dari biaya perolehan aset tetap dalam penyelesaian. Akumulasi biaya perolehan yang akan dipindahkan ke masing-masing aset tetap yang bersangkutan pada saat aset tersebut selesai dikerjakan atau siap digunakan dan disusutkan sejak beroperasi.
Construction in progress are presented as part of property and equipment and stated at cost. All costs, including borrowing costs, incurred in connection with the construction of assets are capitalized as part of the cost of fixed assets in progress. The accumulated cost will be reclassified to the appropriate fixed asset account when the asset is completed or ready for use and depreciated since the operation.
Jumlah tercatat aset tetap dihentikan pengakuannya pada saat dilepaskan atau saat tidak ada manfaat ekonomis masa depan yang diharapkan dari penggunaan atau pelepasannya. Laba atau rugi yang timbul dari penghentian pengakuan aset (dihitung sebagai perbedaan antara jumlah neto hasil pelepasan dan jumlah tercatat dari aset) dimasukkan dalam laporan laba rugi komprehensif pada tahun aset tersebut dihentikan pengakuannya.
An item of fixed assets is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statements of comprehensive income in the year the asset is derecognized.
Pada setiap akhir tahun, Grup melakukan penelaahan berkala atas masa manfaat ekonomis aset, nilai residu, metode penyusutan dan sisa umur pemakaian berdasarkan kondisi teknis. Pengaruh dari setiap perubahan estimasi tersebut berlaku prospektif.
Each year end, the Group periodically reviews the useful lives of the assets, asset’s residual value, depreciation method and the remaining usage expectation based on technical specification. Effect of any changes in estimated accounted for on a prospective basis.
2.i. Sewa 2.i. Lease
Apabila dalam suatu kontrak sewa porsi yang signifikan atas risiko dan manfaat kepemilikan aset tetap berada ditangan lessor, maka sewa tersebut diklasifikasikan sebagai sewa operasi. Pembayaran sewa operasi
Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the consolidated
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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dibebankan ke laporan laba rugi komprehensif konsolidasian atas dasar garis lurus yang masa manfaatnya adalah 5 tahun.
statements of comprehensive income on a straight-line basis with useful life for 5 years.
Sewa aset tetap dimana Grup memiliki secara substansi seluruh risiko dan manfaat kepemilikan aset diklasifikasikan sebagai sewa pembiayaan. Sewa pembiayaan dikapitalisasi pada awal masa sewa sebesar nilai yang lebih rendah antara nilai wajar aset sewaan dan nilai kini pembayaran sewa minimum.
Leases of property and equipment where the Group has substantially all the risks and rewards of ownership are classified as finance leases. Capital leases are capitalized at the leases’ commencement at the lower of the fair value of the leased property and the present value of the minimum lease payments.
Setiap pembayaran sewa dialokasikan antara bagian yang merupakan pelunasan liabilitas dan bagian yang merupakan biaya keuangan sedemikian rupa sehingga menghasilkan tingkat suku bunga yang konstan atas saldo pembiayaan. Unsur bunga dalam biaya keuangan dibebankan di laporan laba rugi komprehensif konsolidasian selama masa sewa sehingga menghasilkan suatu tingkat suku bunga periodik yang konstan atas saldo liabilitas setiap tahun. Aset tetap yang diperoleh melalui sewa pembiayaan disusutkan dengan metode yang sama dengan metode penyusutan aset tetap yang dimiliki sendiri. Jika tidak terdapat kepastian yang memadai bahwa Grup akan mendapatkan kepemilikan atas aset pada akhir masa sewa, aset tersebut disusutkan selama jangka waktu yang lebih pendek antara umur manfaat aset dan masa sewa.
Each lease payment is allocated between the liabilities and finance charges so as to achieve a constant rate of interest on the outstanding balance. The interest elements of the finance charges is charged to the consolidated statement of comprehensive income over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each year. Property and equipment acquired under finance leases are depreciated similarly to owned assets. If there is no reasonable certainty that the Group will hold the ownership by the end of the lease term, the asset is depreciated over the shorter of the useful life of the asset and the lease term.
Grup memiliki peralatan tol yang pembangunannya didanai oleh pihak ketiga, selanjutnya pihak ketiga menyewakan peralatan tol tersebut kepada Grup yang dapat dikategorikan sebagai sewa pembiayaan.
The Group has toll equipment which its construction was funded by third party, and then third party lease such toll equipment to the Group and this can be classified as a Capital lease.
2.j. Investasi pada Entitas Asosiasi 2.j. Investments in Associates Entitas asosiasi adalah suatu perusahaan dimana Grup mempunyai pengaruh yang signifikan, namun tidak mempunyai pengendalian atau pengendalian bersama, melalui partisipasi dalam pengambilan keputusan atas kebijakan finansial dan operasional investi.
An associate is an entity over which the Group have a significant influence, but does not have control or joint control, through participation in decision-making over financial and operating policies of investee.
Investasi pada entitas asosiasi dicatat dengan metode ekuitas, yaitu pada awalnya investasi dicatat sebesar biaya perolehan dan selanjutnya disesuaikan untuk perubahan dalam bagian kepemilikan Grup atas aset bersih entitas asosiasi yang terjadi setelah perolehan, dikurangi dengan penurunan nilai yang ditentukan untuk setiap investasi secara individu.
Investments in associates are accounted for using the equity method, the investment is initially recorded at cost and subsequently adjusted for changes in the Group’s ownership on net assets of the entity after the acquisition of the associate, less any impairment in value is determined for each investment individually.
Bagian Grup atas kerugian entitas asosiasi yang melebihi nilai tercatat dari investasi (yang mencakup semua kepentingan jangka panjang, secara substansi, membentuk investasi neto Grup dalam entitas asosiasi) maka Grup akan menghentikan pengakuan bagian atas ruginya lebih lanjut.
If Groups share of losses of Subsidiaries and associates exceed of the carrying amount of the investment (which includes all long-term interest, in substance, form part of the Group’s net investment in associates) the Group will discontinue recognising its shares of further losses.
Grup akan menentukan pada setiap tanggal pelaporan apakah terdapat bukti yang obyektif yang mengindikasikan bahwa investasi pada entitas asosiasi
The Group will determine at each reporting date whether there is objective evidence which indicates that investments in associates maybe impaired. In case
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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mengalami penurunan nilai. Dalam hal ada indikasi tersebut, jumlah penurunan nilai dihitung berdasarkan selisih antara jumlah terpulihkan dengan nilai tercatat investasi pada entitas asosiasi, dan mengakuinya sebagai kerugian dalam laporan laba rugi komprehensif konsolidasian.
there is any indication, the impairment amount is calculated based on the difference between the recoverable amount to the carrying value of investments in associates, and recognized as a loss in the consolidated statements of comprehensive income.
2.k. Hak Pengusahaan Jalan Tol 2.k. Toll Road Concession Rights Aset hak konsesi merupakan hak Grup untuk membebankan pengguna jasa publik berdasarkan perjanjian jasa konsesi. Aset hak konsesi dicatat pada nilai wajar dari imbalan yang diterima atau akan diterima atas jasa kontrak konstruksi yang diberikan ditambah dengan margin konstruksi yang telah ditentukan oleh manajemen. Aset hak konsesi ini diamortisasi selama masa hak konsesi dengan menggunakan metode garis lurus sebagai berikut:
Concession assets are the Group’s rights to charge users of public services based on concession services arrangements. Concession assets are recorded at fair value of benefit that received or to be received for construction services rendered. These concession assets are intangible assets which are amortized over the concession period using the straight-line method as follows:
- Melalui Kepemilikan Langsung/ Direct Ownership:
Ruas Jalan Tol/ Toll Roads Tahun/ Years
Jakarta – Bogor – Ciawi 40
Jakarta – Tangerang 40
Surabaya – Gempol 40
Jakarta – Cikampek 40
Padalarang – Cileunyi 40
Prof. Dr. Ir. Sedyatmo 40
Cawang – Tomang – Pluit 40
Belawan – Medan – Tanjung Morawa 40
Semarang Seksi A, B & C 40
Pondok Aren – Bintaro Viaduct – Ulujami 40
Palimanan – Kanci 40
Jakarta Outer Ring Road (JORR) Section E1, E2, E3 & W2 40
Cikampek – Padalarang 40
- Melalui entitas anak/ Through Subsidiaries:
Ruas Jalan Tol/ Toll Roads Tahun/ Years
Bogor Outer Ring Road 45
Kunciran – Cengkareng 35
Kunciran – Serpong 35
JORR W2 Utara 40
Surabaya – Mojokerto 42
Gempol – Pasuruan 45
Gempol – Pandaan 35
Semarang – Solo 45
Nusa Dua – Tanjung Benoa 45
Medan – Kualanamu – Tebing Tinggi 40
Biaya Konstruksi Construction Cost Biaya konstruksi merupakan seluruh biaya konstruksi pembangunan jalan tol atau peningkatan kapasitas jalan tol yang meliputi pengadaan tanah, studi kelayakan dan biaya-biaya lain yang berhubungan langsung dengan pembangunan jalan tol, termasuk biaya pembangunan
Construction Cost comprehend all the amount of toll road construction costs or toll road escalation consisting of land acquisition cost, feasibility study cost and other costs that are directly related to toll road construction, including construction costs for access roads, alternative
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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jalan akses ke jalan tol, jalan alternatif dan fasilitas jalan umum yang disyaratkan, ditambah biaya pinjaman lain yang secara langsung digunakan untuk mendanai proses pembangunan aset tersebut. Biaya pinjaman dikapitalisasi sampai dengan saat proses pembangunan tersebut selesai dan dioperasikan.
roads and required public road facilities, interest and other borrowing costs, either directly or indirectly used for financing the development of assets. These borrowing costs are capitalized until the construction accomplished and operated.
Grup mencatat pendapatan dan biaya konstruksi bersamaan dengan pengakuan aset takberwujud pada tahap konstruksi.
The Group accounted for construction revenue and construction cost at the same time recognition of intangible asset during construction phase.
Aset Takberwujud Lainnya Other Intangible Assets Biaya-biaya Pra-Konstruksi yakni biaya-biaya yang terkait dengan perolehan tanah yang disiapkan untuk konstruksi jalan tol dicatat sebagai aset takberwujud lainnya dan nilai buku perangkat lunak.
Pre-Construction costs which are costs associated with the acquisition of land prepared for construction of toll roads are recorded as part of other intangible asset and book value of software.
Aset Kerjasama Operasi Joint Operation Assets
Jalan tol yang pembangunannya didanai oleh investor tanpa kuasa penyelenggaraan dengan pola bagi pendapatan atau bagi hasil tol untuk masa tertentu, dan pengoperasiannya dikendalikan oleh Perusahaan, dicatat oleh Perusahaan sebagai jalan tol kerjasama operasi dan Perusahaan mengakui liabilitas (jangka panjang) kerjasama operasi pada saat jalan tol selesai dibangun dan diserahkan oleh investor untuk dioperasikan.
The construction of toll road is funded by investors without operation rights under revenue or profit sharing scheme for certain period of time, and the operation is controlled by the Company, is recorded by the Company as joint operation toll road and the Company recognized joint operation liabilities (long term) when the construction is completed and transferred by the investor to be operated.
Jalan tol kerjasama operasi disusutkan selama masa hak pengusahaan jalan tol pada saat aset selesai dibangun dan diserahkan oleh investor untuk dioperasikan Perusahaan dengan menggunakan metode garis lurus (straight-line method).
Joint operation toll roads are depreciated over their respective concession periods using the straight line method, commencing from the time the asset has been completely built and transferred from the investor to be operated by the Company.
Sehubungan dengan pelaksanaan Undang-undang Jalan No.38 Tahun 2004, Perusahaan telah memperoleh hak pengusahaan jalan tol (hak konsesi) untuk 13 ruas jalan tol yang diusahakannya menurut Perjanjian Pengusahaan Jalan Tol (PPJT) pada 7 Juli 2006 selama 40 tahun yang berlaku efektif sejak 1 Januari 2005 sampai dengan 31 Desember 2044. Penerimaan hak pengusahaan jalan tol tersebut berdampak pada perubahan taksiran masa manfaat aset tetap khususnya pada kelompok aset Jalan dan Jembatan dan perubahan klasifikasi aset Jalan dan Jembatan yang sebelumnya dikelompokkan sebagai Aset Pemilikan Langsung dan Jalan Tol Kerjasama Operasi menjadi kelompok Aset Hak Pengusahaan Jalan Tol.
In connection with the implementation of the Law No.38 of 2004 regarding Roads, the Company received concession rights for 13 toll road sections that were operated or under construction by the Company based on separate Toll Road Concession Agreements, each dated July 7, 2006, for a period of 40 years from January 1, 2005 to December 31, 2044. The Company's receipt of these concession rights resulted in an extension of estimated useful life of roads and bridges assets and the need for reclassification of the roads and bridges assets from Direct Ownership Assets and Joint Operation Toll Roads categories into Concession Rights Assets category.
Sebelum diterimanya hak pengusahaan jalan tol pada tanggal 1 Januari 2005, aset jalan tol yang terdiri dari aset Jalan dan Jembatan dan aset Jalan Tol Kerjasama Operasi disusutkan selama masa manfaat ekonomi diestimasi sejak perolehan aset. Setelah diterimanya hak pengusahaan jalan tol pada tanggal 1 Januari 2005, taksiran masa manfaat aset Jalan dan Jembatan dan
Prior to the accepted of these concession rights on January 1, 2005, the toll road assets consisting of roads and bridges and joint operation toll roads were depreciated over their estimated economic useful life. Since January 1, 2005, their estimated economic useful life of roads and bridges and joint operation toll roads have been extended through the end of the concession
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Jalan Tol Kerjasama Operasi diperpanjang menjadi selama masa hak pengusahaan jalan tol yang diterima dan disusutkan setiap tahunnya sebesar nilai buku aset Jalan dan Jembatan pada 1 Januari 2005 dibagi dengan masa hak pengusahaan jalan tol.
period and the assets are depreciated annually based on their book value as of January 1, 2005 divided by the concession period.
Aset takberwujud dihentikan pengakuannya jika dilepas atau ketika tidak terdapat lagi manfaat ekonomi masa depan yang diperkirakan dari penggunaannya atau pelepasannya. Keuntungan atau kerugian yang muncul dari penghentian pengakuan aset takberwujud ditentukan sebagai selisih antara hasil neto pelepasan (jika ada) dan jumlah tercatat aset. Keuntungan atau kerugian diakui dalam laba rugi ketika aset tersebut dihentikan pengakuannya. Keuntungan tidak diakui sebagai pendapatan.
An intangible asset shall be derecognised on disposal or when no future economic benefits are expected from its use or disposal. The gain or loss arising from the derecognition of an intangible asset shall be determined as the difference between the net disposal proceeds, if any, and the carrying amount of the asset. It shall be recognised in profit or loss when the asset is derecognised. Gain shall not be recognized as revenue.
2.l. Provisi Pelapisan Jalan Tol 2.l. Provision for Overlay Dalam pengoperasian jalan tol, Grup mempunyai kewajiban untuk menjaga kualitas sesuai dengan SPM (Standar Pelayanan Minimum) yang ditetapkan oleh Kementerian Pekerjaan Umum, yaitu dengan melakukan pelapisan ulang jalan tol secara berkala. Biaya pelapisan ini akan dicadangkan secara berkala berdasarkan estimasi seiring dengan penggunaan jalan tol oleh pelanggan. Provisi diukur dengan nilai kini atas estimasi manajemen terhadap pengeluaran yang diperlukan untuk menyelesaikan liabilitas kini pada tanggal pelaporan.
In operating toll roads, the Group is obliged to maintain the quality in accordance with the SPM (Minimum Service Standards) that have been established by the Ministry of Public Works that is by perfoming overlay regularly. The cost of this overlay will periodically be provision based on estimation with the utilization of toll road by customers. This provision is measured using the present value of management‘s estimate of expenditures required to settle present obligation at the reporting date.
2.m. Utang Obligasi dan Biaya Emisi Obligasi 2.m. Bonds Payable and Bond Issuance Costs Utang obligasi disajikan sebesar nilai nominal setelah memperhitungkan amortisasi premium atau diskonto. Biaya emisi obligasi merupakan biaya transaksi yang dikurangkan langsung dari hasil emisi dalam menentukan hasil emisi bersih obligasi. Selisih antara hasil emisi bersih dengan nilai nominal merupakan diskonto atau premium dan diamortisasi selama jangka waktu obligasi yang bersangkutan.
Bonds payable are presented at par value net of amortized premium or discount. Bond issuance costs represent transaction costs which are directly deducted from issuance proceeds to reflect the net proceeds of the bonds. The difference between net bond proceeds and the par value of the bonds represents a discount or premium which will be amortized over the outstanding period of the bond.
2.n. Biaya Emisi Saham 2.n. Stock Issuance Costs
Biaya emisi saham disajikan sebagai pengurang dalam akun Tambahan Modal Disetor.
Stock issuance costs are presented as deduction to the Additional Paid in Capital.
2.o. Pengakuan Pendapatan dan Beban 2.o. Revenue and Expense Recognition
Pendapatan Konstruksi Construction Revenues Grup mengakui aset takberwujud atas jasa konstruksi dan peningkatan kemampuan dimana Grup menerima hak (lisensi) untuk membebankan pengguna jasa publik. Suatu hak untuk membebankan pengguna jasa publik bukan merupakan hak tanpa syarat untuk menerima kas karena jumlahnya bergantung pada sejauh mana publik menggunakan jasa. Pada fase konstruksi, Grup mencatat aset takberwujud dan mengakui pendapatan dan biaya konstruksi sesuai dengan basis kontrak biaya-plus.
The Group recognizes intangible assets of construction services and increased capacity in which the Group receives the rights (license) to charge users of public services. A right to charge users of public services is not an unconditional right to receive cash because the amounts depend on the extent of public using the service. In the construction period, the Group recorded intangible assets and recognize revenues and costs of construction by using cost-plus contract basis.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pendapatan Tol Toll Revenues Pendapatan tol dari hasil pengoperasian jalan tol dicatat pada saat penjualan karcis tol dan/atau jasa telah diberikan. Pendapatan tol dari hasil kerjasama pengoperasian jalan tol dengan investor dengan kuasa penyelenggaraan diakui pada saat penjualan karcis tol setelah dikurangi bagian investor tersebut. Pembayaran kepada investor tanpa kuasa penyelenggaraan dicatat sebagai angsuran liabilitas kerjasama operasi. Selisih antara jumlah pembayaran ini dengan angsuran liabilitas kerjasama operasi dicatat sebagai beban atau penghasilan kerjasama operasi.
Revenue from toll road operations is recognized when toll tickets are sold and/or services are rendered. Revenue from profit sharing arrangement between the recognized when toll tickets are sold, net of investor's share. Payments to investors without operating rights are recorded as a mandatory installment under joint operation. The excess of total payment over mandatory installment under joint operation is recorded as joint operation expense or revenue.
Pendapatan Usaha Lainnya Other Operating Revenues Pendapatan sewa iklan, lahan dan tempat peristirahatan serta pendapatan jasa pengoperasian diakui sesuai periode yang sudah berjalan dalam tahun yang bersangkutan. Pendapatan diterima di muka untuk periode yang belum berjalan diakui sebagai pendapatan diterima di muka dan disajikan di laporan posisi keuangan sebagai liabilitas.
Revenues from advertisement, space and rest area rental and income from toll road operating service are recognized when earned. Advances received not yet earned are recognized as unearned revenue and are presented in the statements of financial position as a liability.
Pendapatan Lainnya Other Income Pendapatan dividen dari aset keuangan lainnya diakui pada saat pembagian dividen diumumkan. Pendapatan lainnya diakui atas dasar akrual.
Dividend income from other financial asset is recognized when the dividend distribution has been declared. Other income is recognized based on accrual basis.
Beban Expenses Beban diakui pada saat terjadinya (basis akrual). Expenses are recognized when incurred (accrual basis).
Beban Konstruksi Construction Cost Beban konstruksi diakui sejak kegiatan konstruksi dimulai sampai dengan proses pembangunan aset selesai dan siap untuk digunakan.
Construction cost are recognized during construction stage up to construction activity was finished and asset ready to use.
2.p. Transaksi dan Saldo Dalam Mata Uang Asing 2.p. Transactions and Balances in Foreign Currencies Grup menyelenggarakan pembukuannya dalam mata uang Rupiah. Transaksi-transaksi dalam mata uang asing dicatat dengan kurs yang berlaku pada saat terjadinya transaksi. Pada tanggal pelaporan, aset dan liabilitas moneter dalam mata uang asing dijabarkan dalam mata uang Rupiah dengan kurs tengah Bank Indonesia yang berlaku pada tanggal tersebut sebagai berikut:
The Group maintains its accounting records in Rupiah. Transactions involving foreign currencies are recorded at the rate of exchange prevailing at the time of the transactions. At reporting, monetary assets and liabilities denominated in foreign currencies are translated to Rupiah using the Bank of Indonesia middle rate of exchange at such date, as follows:
2014 2013
Rp Rp
Dolar Amerika Serikat 12,440 12,189 United States Dollar
Keuntungan atau kerugian yang timbul sebagai akibat dari penjabaran aset dan liabilitas dalam mata uang asing dicatat sebagai laba atau rugi tahun berjalan.
Any resulting gains or losses on the translation of foreign currency assets and liabilities are recorded as profit or loss in the current year
2.q. Pajak Penghasilan 2.q. Income Tax Seluruh perbedaan temporer antara jumlah tercatat aset dan liabilitas dengan dasar pengenaan pajaknya diakui sebagai pajak tangguhan dengan metode liabilitas (liability method). Pajak tangguhan diukur dengan tarif pajak yang berlaku saat ini.
All temporary differences between the tax base of assets and liabilities and their carrying value for financial reporting purposes are recognized as deferred tax using the liability method. Deferred tax is calculated using currently enacted tax rates.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Saldo rugi fiskal yang dapat dikompensasi diakui sebagai aset pajak tangguhan apabila besar kemungkinan bahwa jumlah laba fiskal mendatang akan memadai untuk dikompensasi. Koreksi terhadap kewajiban perpajakan diakui saat surat ketetapan pajak diterima atau jika Grup mengajukan keberatan dan banding maka pada saat keputusan atas keberatan dan banding tersebut telah ditetapkan.
Deferred tax assets relating to the carry forward of unused tax losses are recognized to the extent that if is probable that future taxable profit will be available against which the unused tax losses can be utilized. Amendments to taxation obligations are recognized when tax assessment letters are received or, if the Group submitted an objection and appeal when the results of the objection or appeal are determined.
Aset dan liabilitas pajak tangguhan saling hapus jika dan hanya jika terdapat hak yang dapat dipaksakan secara hukum untuk melakukan saling hapus aset pajak kini dan liabilitas pajak kini dan aset dan liabilitas pajak tangguhan yang terkait dengan pajak penghasilan yang dikenakan oleh otoritas perpajakan yang sama, baik atas entitas kena pajak yang sama ataupun berbeda dan adanya niat untuk menyelesaikan saldo-saldo tersebut secara neto. Saling hapus pajak
Deferred tax assets and liability offset if, and only if there is a legally enforceable right to set off, current tax asset and current tax liability and tax deferred assets and liability related to income taxes levied by the same taxation authority, both on the same entity's taxable or different taxable entity and there is an intention to settle the outstanding balance on net balance.
Pajak penghasilan kini dihitung dari laba kena pajak, yaitu laba yang telah disesuaikan dengan peraturan pajak yang berlaku.
Current income tax is calculated from taxable income which is net income adjusted under the current tax regulations.
Saling hapus atas aset pajak tangguhan dan liabilitas pajak tangguhan dilakukan jika, dan hanya jika, entitas:
Deferred tax assets dan deferred tax liabilites are offset if, and only if, the entity:
1). memiliki hak yang dapat dipaksakan secara hukum untuk melakukan saling hapus aset pajak kini terhadap liabilitas pajak kini; dan
1) has a legally enforceable right to set off current tax asset against current tax liability; and
2). aset pajak tangguhan dan liabilitas pajak tangguhan
terkait dengan pajak penghasilan yang dikenakan oleh otoritas pajak yang sama atas entitas kena pajak yang sama.
2) the deferred tax asset and the deferred tax liability relate to income taxes levied by the same tax authority on the same taxable entity.
2.r. Imbalan Kerja 2.r. Employee Benefits
Program Pensiun Pension Program Nilai kini liabilitas pasca kerja tergantung pada beberapa faktor yang ditentukan dengan dasar aktuarial berdasarkan beberapa asumsi. Asumsi yang digunakan untuk menentukan biaya (penghasilan) pensiun neto mencakup tingkat diskonto. Perubahan asumsi ini akan mempengaruhi jumlah tercatat imbalan pasca kerja.
The present value of post employment benefit depends on several factors which are determined by actuarial basis based on several assumptions. Assumptions used to determine pension costs (benefits) covered discount rate. The changes of assumption might affect carrying value of post employment benefit.
Perusahaan menentukan tingkat diskonto yang sesuai pada akhir periode pelaporan, dengan mempertimbangkan tingkat suku bunga obligasi pemerintah yang didenominasi dalam mata uang imbalan yang akan dibayar dan memiliki jangka waktu yang serupa dengan jangka waktu liabilitas yang terkait.
The Company determines the appropriate discount rate at the end reporting period, by considering the discount rate of government’s bond which denominated in currency of benefit and of that will be paid and have a similar terms with the terms of the related liabilities.
Perusahaan menyelenggarakan program pensiun manfaat pasti untuk pegawai tetap yang dikelola oleh Dana Pensiun Jasa Marga (DPJM). Manfaat pensiun yang akan dibayar dihitung berdasarkan penghasilan dasar pensiun dan masa kerja pegawai.
The Company provides a defined benefit pension plan covering all permanent employees which is managed by the Jasa Marga Pension Fund (DPJM). Pension benefit to be paid are determined based on basic pension income and the period of the employment.
DPJM telah mendapat persetujuan dari Menteri Keuangan Republik Indonesia No.KEP- 370/KM.17/1997, tanggal 15 Juli 1997 dan diperbaharui
The DPJM has been approved by the Decree of the Ministry of Finance of the Republic of Indonesia No.KEP-370/KM.17/1997, dated July 15, 1997 and amended by
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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dengan Surat Keputusan No.KEP-379/KM.6/2004, tanggal 14 September 2004.
the Decree No.KEP-379/KM.6/2004, dated September 14, 2004.
Jumlah iuran karyawan untuk program pensiun sebesar 3% dari gaji pokok dan sisa pendanaan sebesar 7,48% menjadi beban Perusahaan.
The employees contribute 3% of their basic salaries to the plan and the remaining funding of 7.48% is contributed by the Company.
Program Purna Karya Post Retirement Benefit Program Berdasarkan Surat Keputusan Direksi No. 163/KPTS/2003, tanggal 23 September 2003, Perusahaan akan memberikan tunjangan purna karya berupa pembayaran sekaligus sebanyak 24 kali penghasilan terakhir (diluar lembur dan tunjangan pajak) kepada karyawan yang berhenti bekerja karena pensiun, meninggal, atau cacat. Bagi karyawan yang memasuki usia pensiun dipersyaratkan memiliki masa kerja minimal 25 tahun. Surat keputusan ini berlaku efektif sejak 1 Januari 2003.
Based on the Company’s Directors Decree No. 163/KPTS/2003, dated September 23, 2003, the Company provides retirement benefit which is equal to 24 times the monthly salary (excluding overtime and tax allowance) for employees who cease work due to retirement, death, or disability. Employees who have reached retirement age are required to have a minimum working period of 25 years to obtain this benefit. This decree was effective on January 1, 2003.
Jumlah iuran premi coming service setiap bulan adalah sebesar 6% dari Penghasilan Dasar Asuransi (PhDA) dengan proporsi Perusahaan dan karyawan masing-masing sebesar 4% dan 2% dari PhDA.
The amount premium contribution coming service each month is 6% from insurance basic income with representing by the Company and employee proportion 4% and 2% from insurance basic income, respectively.
Perusahaan mengadakan kontrak kerjasama pengelolaan program Purna Karya karyawan dengan AJB Bumiputera 1912, melalui Perjanjian No. 34/Kontrak-DIR/2007 dan No. 441/AJB/JM/ PKS/12/07, tanggal 19 Desember 2007. Program Purna Karya dalam kontrak ini akan memberikan manfaat dalam bentuk uang purna karya secara sekaligus (lumpsum) kepada karyawan tetap yang berhenti bekerja.
The Company entered into cooperation agreement to manage employee Post Retirement with AJB Bumiputera 1912, through agreement No. 34/Kontrak-DIR/2007 and No. 441/AJB/JM/PKS/12/07, dated December 19, 2007. The post retirement in this contract will give a benefit in post retirement cash in lump sum to the resign permanent employee.
Program Kesehatan Pensiunan Pension Healthcare Program Berdasarkan Surat Keputusan Direksi No. 165/KPTS/2003, tanggal 23 September 2003, tentang Penyempurnaan Kedua Keputusan Direksi No. 61/KPTS/2001 tentang Pengelolaan Pemeliharaan Kesehatan Pensiunan dan Keluarga, yang bertujuan untuk tetap menjaga agar pensiunan dan keluarga pensiunan dapat melakukan pola hidup sehat dan memiliki produktivitas yang tinggi, keluarga pensiunan yang mendapat bantuan pengobatan dari Perusahaan dibatasi dengan jumlah anak sebanyak-banyaknya 3 orang dan telah terdaftar di Perusahaan.
Based on the Directors’ Decree No. 165/KPTS/2003, dated September 23, 2003 regarding The Second Improvement of the Directors’ Decrees No. 61/KPTS/2001 regarding The Management of Health Maintenance for the Pensioner and Family, which its objective is to allow the pensionary and their family to have a healthy life and high productivity, the pensionary family that are eligible to receive medical assistance from the Company are limited to 3 children that are registered with the Company.
Perusahaan menghitung liabilitas imbalan pasca kerja dengan metode projected unit credit, sesuai dengan PSAK 24 (Revisi 20010). Biaya jasa kini diakui sebagai beban pada tahun berjalan. Biaya jasa lalu sebagai dampak perubahan asumsi aktuaria bagi karyawan aktif diakui dalam laporan laba rugi selama sisa masa kerja rata-rata karyawan tersebut. Imbalan kerja atas pemutusan hubungan kerja diakui sebagai liabilitas dan beban pada saat terjadi.
Based on PSAK 24 (Revised 2010), the Company has calculated the liability for other employee benefits using the projected unit credit method. Current service cost is recognized as an expense in the current year. Past service cost, actuarial adjustments and the effect of changes in actuarial assumptions for active employees are recognized in statements of income over the estimated average remaining working period of those employees. Employee benefits for terminations are recognized as liabilities and expenses when these occur.
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Entitas Anak Subsidiaries
Program Pensiun Pension Program PT Jalantol Lingkarluar Jakarta (JLJ) menyelenggarakan program pensiun iuran pasti untuk semua karyawan tetapnya. Program pensiun didanai seluruhnya oleh JLJ. Kontribusi yang diberikan JLJ dibebankan pada laporan laba rugi tahun berjalan.
PT Jalantol Lingkarluar Jakarta (JLJ) provides a defined contribution pension program covering all permanent employees. The pension program is entirely funded by JLJ. The contribution borne by JLJ is charged to the statement of income in the current period.
Program Imbalan Kerja Lainnya Other Employee Benefit Program JLJ, JLP, TMJ dan MNA (Entitas Anak) membukukan liabilitas program imbalan kerja sesuai dengan Undang-undang Ketenagakerjaan No.13 Tahun 2003. Sesuai dengan PSAK 24 (Revisi 2010), liabilitas atas masa kerja lalu diestimasi dengan menggunakan metode projected unit credit. Tidak terdapat pendanaan yang disisihkan oleh Entitas Anak sehubungan dengan estimasi liabilitas tersebut.
JLJ, JLP, TMJ and MNA (Subsidiaries) recognized other employee benefit liabilities conducted in accordance with Labor Law No.13 Year 2003. Based on PSAK 24 (Revised 2010), employee benefit liabilities are estimated using the projected unit credit method. No funding is provided by Subsidiaries relation with estimation of employee benefits.
Biaya jasa kini diakui sebagai beban pada tahun berjalan. Biaya jasa lalu sebagai dampak perubahan asumsi aktuaria bagi karyawan aktif diakui dalam laporan laba rugi selama sisa masa kerja rata-rata karyawan tersebut. Imbalan kerja atas pemutusan hubungan kerja diakui sebagai liabilitas dan beban pada saat terjadi.
Current service cost is recognized as an expense in the current year. Past service cost as effect of changes in actuarial assumptions for active employees are recognized in statements of income over the estimated average remaining working period of those employees. Employee benefits for terminations are recognized as liabilities when these expenses occur.
2.s. Transaksi dengan Pihak Berelasi 2.s. Transactions with Related Parties Pihak berelasi adalah orang atau entitas yang terkait dengan entitas yang terkait dengan Grup (entitas pelapor).
A related party is a person or entity that is related to the Group (the reporting entity).
1) Orang atau anggota keluarga terdekat mempunyai relasi dengan entitas pelapor jika orang tersebut:
1) A person or a close member of that person's family is related to the reporting entity if that:
a. Memiliki pengendalian atau pengendalian bersama atas entitas pelapor;
a. has control or joint control over the reporting entity;
b. Memiliki pengaruh signifikan atas entitas pelapor; atau
b. has significant influence over the reporting entity; or
c. Personil manajemen kunci entitas pelapor atau entitas induk entitas pelapor.
c. is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.
2) Suatu entitas berelasi dengan entitas pelapor jika memenuhi salah satu hal berikut:
2) An entity is related to a reporting entity if any of the following conditions applies:
a. Entitas dan entitas pelapor adalah anggota dari kelompok usaha yang sama (artinya entitas induk, entitas anak, dan entitas anak berikutnya terkait dengan entitas lain);
a. The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others);
b. Satu entitas adalah entitas asosiasi atau ventura bersama dari entitas lain (atau entitas asosiasi atau ventura bersama yang merupakan anggota suatu kelompok usaha, yang mana entitas lain tersebut adalah anggotanya);
b. One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member);
c. Kedua entitas tersebut adalah ventura bersama dari pihak ketiga yang sama;
c. Both entities are joint ventures of the same third party;
d. Satu entitas adalah ventura bersama dari entitas ketiga dan entitas yang lain adalah entitas asosiasi dari entitas ketiga;
d. One entity is a joint venture of a third entity and the other entity is an associate of the third entity;
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Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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e. Entitas tersebut adalah suatu program imbalan pasca kerja untuk imbalan kerja dari salah satu entitas pelapor atau entitas yang terkait dengan entitas pelapor. Jika entitas pelapor adalah entitas yang menyelenggarakan program tersebut, maka entitas sponsor juga berelasi dengan entitas pelapor;
e. The entity is a post-employment defined benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity;
f. Entitas yang dikendalikan atau dikendalikan bersama oleh orang yang dildentifikasikan dalam huruf a; atau
f. The entity is controlled or jointly controlled by a person identified in (a); or
g. Orang yang diidentifikasikan dalam huruf (1) (a) memiliki pengaruh signifikan atas entitas atau personil manajemen kunci entitas (atau entitas induk dari entitas.
g. A person identified in (1)(a) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity).
Entitas Berelasi dengan Pemerintah dapat diklasifikasikan sebagai berikut adalah: Entitas yang dikendallikan secara signifikan oleh Kementerian Keuangan atau Pemerintah Daerah yang merupakan Pemegang Saham Entitas. Pemerintah RI yang diwakili oleh Kementerian BUMN sebagai kuasa pemegang saham.
Related Parties with Government classified as follows: Entities which significantly controlled by the Finance Ministry or Local Government that representing as the shareholders of the entity. The Government of Indonesia, represented by the SOE’e Ministry as shareholder’s representative.
2.t. Goodwill 2.t. Goodwill Goodwill timbul dari kombinasi bisnis diakui sebagai aset pada tanggal dimana pengendalian diperoleh.
Goodwill arising in a business combination is recognized as an asset on the date that the control is acquired.
Goodwill pada tanggal akuisisi yang diukur sebagai selisih lebih nilai agregat dari imbalan yang dialihkan, jumlah setiap kepentingan nonpengendali pada pihak yang diakuisisi, dan nilai wajar kepentingan ekuitas yang sebelumnya dimiliki oleh Perusahaan pada pihak yang diakuisisi di atas selisih jumlah dari asset teridentifikasi yang diperoleh dan liabilitas yang diambil alih.
Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any noncontrolling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities taken over.
Jika biaya perolehan lebih rendah dari nilai wajar asset neto yang diperoleh, perbedaan tersebut diakui dalam laporan laba rugi konsolidasian.
If the cost of acquisition is less than the fair value of the mnet assets acquired, the difference is recognized directly in the consolidated statement of income.
Goodwill tidak diamortisasi namun penurunan nilainya paling tidak direviu secara tahunan atau lebih, bila terdapat indikasi penurunan nilai. Untuk keperluan pengujian penurunan nilai, goodwill dialokasikan pada setiap unit penghasil kas yang diharapkan dapat memanfaatkan sinergi dari kombinasi bisnis. Jika jumlah tercatat dari unit penghasil kas tersebut kurang dari nilai tercatatnya, rugi penurunan nilai dialokasikan terlebih dahulu untuk mengurangi nilai tercatat goodwill pada unit penghasilkan tersebut dan kemudian pada asset lainnya dari unit penghasil kas tersebut atas dasar proporsional. Kerugian penurunan nilai goodwill tidak dipulihkan pada periode berikutnya.
Goodwill is not amortized but is reviewed for impairment at least annually or more frequently when there is an indication that the goodwill may be impaired. For the purpose of impairment testing, goodwill is allocated to each of the cash-generating units expected to benefit from the synergies of the combination. If the recoverable amount of the cashgenerating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit prorated on the basis of the carrying amount of each asset in the unit. An impairment loss recognized for goodwill is not reversed in the subsequent period.
2.u. Pelaporan Segmen 2.u. Information Reporting
Grup mengungkapkan informasi yang memungkinkan pengguna laporan keuangan untuk mengevaluasi sifat dan dampak keuangan dari aktivitas bisnis. Standar
The Group disclose information which enables users of financial statements to evaluate the nature and financial effects of business activity. Standard also refines the
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juga menyempurnakan definisi segmen operasi dan prosedur yang digunakan untuk mengidentifikasi dan melaporkan segmen operasi. Standar mengharuskan “pendekatan manajemen” dalam menyajikan informasi segmen menggunakan dasar yang sama seperti halnya pelaporan internal. Hal ini tidak menyebabkan tambahan penyajian segmen yang dilaporkan. Perusahaan mengoperasikan dan menjalankan bisnis melalui beberapa segmen operasi. Segmen operasi dilaporkan dengan cara yang konsisten dengan pelaporan internal yang disampaikan kepada pengambil keputusan operasional.
definition of operating segments and the procedures used to identify and report operating segments. Standard requires that "management approach" in the present segment information using the same base as well as internal reporting. This does not cause additional presentation of the reported segment. The Company operates and conducts business through a single segment with managing the existing network infrastructure. The segment reported operating in a manner consistent with internal reporting provided to operational decision-makers.
Pembuat keputusan operasional adalah Dewan Direksi dan Vice President. Dewan Direksi dan Vice President menelaah pelaporan internal Perusahaan untuk menilai kinerja dan mengalokasikan sumber daya. Manajemen menentukan operasi segmen berdasarkan laporan ini.
Operational decision have made by the Board of Directors and Vice President. Board of Directors and Vice President review of the Company’s internal reporting to assess performance and allocate resources. Management determines the operating segments based on this report.
Pelaporan informasi segmen usaha disajikan untuk menunjukkan hasil usaha per wilayah yang berasal dari pendapatan tol.
Reporting of business segment information is disclosed to show the results of operations per region derived from toll revenue.
2.v. Laba Per Saham 2.v. Earnings Per Share
Laba per saham dihitung dengan membagi laba bersih yang dapat diatribusikan ke pemilik entitas induk dengan rata-rata tertimbang saham yang beredar selama tahun yang bersangkutan.
Earning per share is computed by dividing net income attributable to owners of the parent entity with the weighted average shares outstanding during the year.
Laba bersih per saham dilusian dihitung dengan membagi total laba tahun berjalan dengan rata-rata tertimbang jumlah saham biasa yang beredar pada periode pelaporan, yang disesuaikan untuk mengasumsikan konversi efek berpotensi saham biasa yang sifatnya dilutif.
Diluted earnings per share is calculated by dividing profit for the period with the weighted average number of ordinary shares outstanding during the reporting period, adjusted to assume conversion of all potential dilutive ordinary shares.
3. Penyajian Kembali Laporan Keuangan 3. Restatement of Financial Statements
Seperti yang dijelaskan dalam Catatan 44.h laporan keuangan konsolidasian, Perusahaan telah mengubah kebijakan akuntansi untuk Aset JORR S yang dihapuskan pada bulan Mei tahun 2013. Selain itu, salah satu entitas anak juga melakukan perubahan akuntansi atas pengakuan beban dan uang muka proyek. Sesuai dengan PSAK 25 “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan Kesalahan”, Perusahaan telah menyajikan kembali laporan keuangan konsolidasian untuk tahun yang berakhir pada tanggal 31 Desember 2013.
As disclosed in Note 44.h of the consolidated financial statements, the Company has changed its accounting policy for Asset JORR S which was written-off on May 2013. In addition, one of subsidiary also made a change in accounting for project expense and advance recognition. In accordance with PSAK 25, "Accounting Policies, Changes in Accounting Estimates and Errors", the Company restated its consolidated financial statements for the year ended December 31, 2013.
Berikut ini adalah rincian akun-akun dalam laporan keuangan konsolidasian untuk tahun yang berakhir 31 Desember 2013 sebelum dan sesudah penyajian kembali:
The following are the details of the accounts in the consolidated financial statements for the year ended December 31, 2013 before and after the restatement:
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 40 Paraf:
Sebelum Penyajian Sesudah Penyajian
Kembali/ Penyesuaian/ Kembali/
Before Adjustment After
Restatement Restatement
Rp Rp
ASET ASSETS
Aset Tidak Lancar Non-Current Assets
Biaya Dibayar Dimuka 47,356,940 (21,589,375) 25,767,565 Prepaid Expenses
Pajak Dibayar Dimuka 1,100,643 63,549,023 64,649,666 Prepaid Taxes
Aset Tetap 593,028,346 (1,714,952) 591,313,394 Property and Equipment
Hak Pengusahaan Jalan Tol 22,300,271,393 (338,150,247) 21,962,121,146 Toll Road Concession Rights
LIABILITAS DAN EKUITAS LIABILITES AND EQUITY
Liabilitas Jangka Pendek Current Liabiities
Utang Usaha 80,668,899 19,362,537 100,031,436 Accounts Payable
Liabilitas Jangka Panjang Non-Current Liabilities
Liabilitas Pajak Tangguhan 522,668,019 25,833,535 548,501,554 Deferred Tax Liabilities
Liabilitas Jangka Panjang Lainnya 435,465,081 23,200,000 458,665,081 Other Long Term Liabilities
EKUITAS EQUITY
Saldo laba 3,449,445,813 (308,655,573) 3,140,790,240 Retained Earnings
Kepentingan Non Pengendali 1,561,545,859 (377,214) 1,561,168,645 Non-Controlling Interests
LAPORAN LABA RUGI STATEMENTS OF
KOMPREHENSIF COMPREHENSIVE INCOME
Pendapatan Tol 5,825,932,269 (23,200,000) 5,802,732,269 Toll Revenues
Beban Pemeliharaan Jalan Tol 1,143,307,645 425,517,344 1,568,824,989 Toll Road Maintenance Expenses
Beban Pajak 476,834,608 (94,984,324) 381,850,284 Tax Expenses
LABA TAHUN BERJALAN 1,237,820,534 (309,032,787) 928,787,747 INCOME FOR THE YEAR
LABA KOMPREHENSIF COMPREHENSIVE INCOME
TAHUN BERJALAN 1,236,626,699 (309,032,787) 927,593,912 FOR THE YEAR
31 Des/ Dec 2013
o
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 41 Paraf:
4. Kas dan Setara Kas 4. Cash and Cash Equivalents
2014 2013
Rp Rp
Kas/ Cash on Hand
Kas/ Cash 54,655,364 46,716,488
Kas Proyek/ Cash for Project 710,000 910,000
Jumlah Kas/ Total Cash on Hand 55,365,364 47,626,488
Bank/ Cash in Banks
Rupiah
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 233,439,581 262,848,231
Pihak Ketiga/ Third Parties:
PT Bank Permata Tbk 21,918,384 5,050,851
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 19,279,074 77,633,787
PT Bank Syariah Mandiri 9,195,739 16,901
PT Bank Pembangunan Daerah Jawa Tengah 5,465,509 4,697,296
PT Bank Sumut 1,915,295 2,804,065
PT Bank Bukopin Tbk 1,307,483 1,593,015
PT Bank Pembangunan Daerah Jawa Timur Tbk 815,597 124,039
PT Bank Central Asia Tbk 483,641 2,915,177
PT Bank DBS Indonesia 454,189 3,867,514
PT Bank Himpunan Saudara 1906, Tbk 339,735 --
PT Bank Jabar Banten Syariah 296,326 289,194
PT Bank DKI 243,846 17,080
PT Bank Muamalat Indonesia Tbk 186,328 368,300
PT Bank OCBC NISP Tbk 605 976
295,341,331 362,226,426
Dolar Amerika Serikat/ United States Dollar
Pihak Berelasi (Catatan 43)/ Related Party (Note 43) 1,116,701 922,812
1,116,701 922,812
Jumlah Bank/ Total Cash in Banks 296,458,032 363,149,238
Jumlah Kas dan Bank/ Total Cash and Banks 351,823,396 410,775,726
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 42 Paraf:
2014 2013
Rp Rp
Rupiah
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 1,922,336,000 2,036,802,514
Pihak Ketiga/ Third Parties:
PT Bank Bukopin Tbk 348,100,000 315,600,000
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 151,740,000 256,090,000
PT Bank Muamalat Indonesia Tbk 139,400,000 91,593,000
PT Bank Permata Tbk 83,000,000 99,989,326
PT Bank Pembangunan Daerah Jawa Tengah 79,500,000 71,700,000
PT Bank CIMB Niaga Tbk 65,000,000 64,000,000
PT Bank DKI 46,182,826 710,224
PT Bank Pembangunan Daerah Bali 35,050,000 35,050,000
PT Bank Tabungan Pensiunan Nasional (Persero) Tbk 20,000,000 27,000,000
PT Bank Sinar Harapan Bali 10,000,000 10,000,000
PT Bank Pembangunan Daerah Jawa Timur Tbk 9,000,000 3,000,000
PT Bank Panin Syariah 7,500,000 15,000,000
PT Bank Himpunan Saudara 1906 Tbk 5,000,000 3,012,268
PT Bank Victoria International Tbk 2,000,000 --
PT Bank DBS Indonesia 1,467,456 1,830,377
PT Bank Syariah Bukopin -- 32,000,000
PT Bank Syariah Mega Indonesia -- 9,000,000
PT Bank Jatim Syariah -- 8,000,000
PT Bank Mutiara Tbk -- 3,500,000
PT Bank Panin Tbk -- 2,000,000
PT Bank UOB Buana Indonesia Tbk -- 2,000,000
PT Bank Internasional Indonesia Syariah -- 2,000,000
2,925,276,282 3,089,877,709
Dolar Amerika Serikat/ United States Dollar
Pihak Berelasi (Catatan 43)/ Related Party (Note 43) 13,684,000 13,407,900
13,684,000 13,407,900
Jumlah Deposito Berjangka/ Total Time Deposits 2,938,960,282 3,103,285,609
Jumlah Kas dan Setara Kas/ Total Cash and Cash Equivalents 3,290,783,678 3,514,061,335
Deposito Berjangka/ Time Deposits
Jatuh Tempo (Bulan)/ Maturity Period (Months) 1 - 3 1 - 3
Tingkat Suku Bunga (%)/ Interest Rate (%)
Rupiah 4.5 - 11.0 4.5 - 11.5
Dolar Amerika Serikat/ United States Dollar 1.5 1.5
Kas proyek merupakan uang tunai dan rekening giro yang tersedia untuk membiayai pemeliharaan dan pembangunan jalan tol.
Cash for projects represent cash on hand and in banks to finance expenditures related to maintenance and toll roads construction.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 43 Paraf:
5. Investasi Jangka Pendek 5. Short-Term Investments
2014 2013
Rp Rp
Efek Tersedia untuk Dijual Marketable Securities Available for Sale
Reksadana Mandiri Investasi Mutual Fund Mandiri
Dana Obligasi Seri II 4,529,650 4,529,650 Investment - Bond II Series
Kenaikan Nilai Aset Bersih 2,613,862 2,098,260 Increase in Net Assets Value
Jumlah 7,143,512 6,627,910 Total
Mutasi kenaikan nilai aset bersih adalah sebagai berikut: A movement of increase in net assets value is as follows:
2014 2013
Rp Rp
Saldo Awal 2,098,260 3,292,095 Beginning Balance
Laba (Rugi) Belum Direalisasi 515,602 (1,193,835) Unrealized Profit (Loss)
Saldo Akhir 2,613,862 2,098,260 Ending Balance
6. Piutang Lain-lain 6. Other Receivables
Piutang lain-lain merupakan pendapatan yang akan diterima dari sewa lahan, sewa tempat istirahat, sewa ruang iklan dan bunga deposito berjangka yang akan diterima.
Other receivables represent revenues to be received from rent of land, rest areas, advertisement spaces and interest on time deposits.
2014 2013
Rp Rp
Piutang Lain-lain - Lancar/ Other Receivables - Current
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 12,032,044 10,999,014
Pihak Ketiga/ Third Parties
Kementerian Pekerjaan Umum/ Ministry of Public Works 110,861,163 91,438,316
PT Nancy Wijaya 9,500,000 --
PT Graha Sarana Duta 5,653,384 3,629,682
PT Indocement Tunggal Prakarsa 1,381,972 2,625,182
Pegawai/ Employees 108,274 9,421,998
Lain-lain/ Others
(Masing-masing di bawah Rp 1 Miliar)/ (Each below Rp 1 Billion) 19,412,420 59,083,719
Sub Jumlah/ Sub Total 158,949,257 177,197,911
Dikurangi/ Less:
Cadangan Kerugian Penurunan Piutang/ Allowance for Impairment Losses
Pihak Ketiga/ Third Parties (10,120,639) --
Sub Jumlah/ Sub Total (10,120,639) --
Jumlah Bersih/ Total Net 148,828,618 177,197,911
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 44 Paraf:
2014 2013
Rp Rp
Piutang Lain-lain - Tidak Lancar/ Other Receivables - Non Current
Pihak Ketiga/ Third Parties
PT Nancy Wijaya -- 9,500,000
Lain-lain / Others
(Masing-masing di bawah Rp 1 Miliar)/ (Each below Rp 1 Billion) -- 26,550,509
Sub Jumlah/ Sub Total -- 36,050,509
Dikurangi/ Less:
Cadangan Kerugian Penurunan Piutang/ Allowance for Impairment Losses
Pihak Berelasi/ Related Parties -- (1,239,952)
Pihak Ketiga/ Third Parties -- (15,059,891)
Sub Jumlah/ Sub Total -- (16,299,843)
Jumlah Bersih/ Net Total -- 19,750,666
Piutang kepada Kementerian Pekerjaan Umum merupakan piutang atas Dana Dukungan Pemerintah berdasarkan Amandemen I Perjanjian Pengusahaan Jalan Tol Lingkar Luar Jakarta (JORR) Seksi W2 Utara sesuai Akta Notaris Nomor 24 tanggal 18 November 2011 dibuat dihadapan Notaris Rina Utami Djauhari, dalam hal realisasi Pengadaan tanah melebihi batasan kewajiban Biaya Pengadaan Tanah, Perusahaan memperoleh dana dukungan Pemerintah sebesar Rp 387.643.000.000. Sesuai Perjanjian Pemberian Dukungan Pemerintah (PPDP) Nomor 05/KU.08.01/PPDP/DDPPTJT/III/2012 tanggal 21 Maret 2012, Perusahaan membiayai terlebih dahulu Kenaikan harga tanah yang menjadi tanggungan Pemerintah dan mengajukan permohonan penggantian dana (reimbursement) kepada Pemerintah.
Receivable from the Ministry of Public Works represents receivables of Government Support Fund based on first amendment Concession Agreement (JORR Section "S") W2 Northern according to the Deed No. 24 dated November 18, 2011 of Notary Rina Utami Djauhari, in realization of the soil exceeds the limit Procurement obligations of the Land Acquisition Costs, the Company obtained government support of Rp 387,643,000,000. Based on Government Support Agreement (PPDP) No. 05/KU.08.01/PPDP/DDPPTJT/III/2012 on March 21, 2012, the Company financed increase the price of land to be dependant by the Government and apply for reimbursement to the Government.
Manajemen berpendapat bahwa cadangan penyisihan penurunan nilai atas piutang lain-lain adalah cukup untuk menutupi kerugian yang mungkin timbul dari tidak tertagihnya piutang tersebut.
Managemet believes that allowances made for impairment losses on other receivables are adequate to cover possible loss on uncollectible receivable.
Mutasi penyisihan kerugian penurunan nilai adalah sebagai berikut:
Movement of allowance for impairment losses as follows:
2014 2013
Rp Rp
Saldo Awal/ Beginning Balance 16,299,843 6,771,697
Penyisihan (Pemulihan) Kerugian selama Tahun Berjalan/
Allowance (Recovery) for Losses of Current Year (6,179,204) 9,528,146
Saldo Akhir/ Ending Balance 10,120,639 16,299,843
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 45 Paraf:
7. Biaya Dibayar Dimuka 7. Prepaid Expenses
Merupakan biaya dibayar di muka atas sewa, asuransi, perlengkapan kantor dan tol serta uang muka perjalanan dinas.
Represent prepaid rent, insurance, office and toll supplies and advances for business travel.
2014 2013
Rp Rp
Biaya Dibayar di Muka 65,241,828 5,532,072 Prepaid Expenses
Uang Muka Internal 6,722,989 1,908,516 Internal Advances
Uang Muka Pekerjaan 17,386 18,326,977 Work Advances
Jumlah 71,982,203 25,767,565 Total
8. Perpajakan 8. Taxation
a. Pajak Dibayar Dimuka a. Prepaid Taxes
2014 2013
Rp Rp
Perusahaan The Company
PPh Pasal 28.a Tahun 2013 120,817,859 63,549,023 Income Tax Article 28.a Year 2013
Entitas Anak Subsidiaries
Pajak Penghasilan: Income Taxes:
Pasal 23 243,147 -- Article 23
Pajak Pertambahan Nilai 1,572,697 1,100,643 Value Added Tax
1,815,844 1,100,643
Jumlah 122,633,703 64,649,666 Total
b. Utang Pajak b. Tax Payables
2014 2013
Rp RpPerusahaan The Company
Pajak Penghasilan: Income Tax:
Pasal 4 (2) 9,176,038 8,548,260 Article 4 (2)
Pasal 21 22,639,595 25,935,317 Article 21
Pasal 23 2,008,861 1,191,347 Article 23
Pasal 25 32,122,970 30,186,327 Article 25
Pasal 29 140,582,339 -- Article 29
Pajak Pertambahan Nilai 42,611,553 21,455,327 Value Added Tax
Kewajiban Pajak Lainnya -- 646,066 Other Tax Liabilities
249,141,356 87,962,644
Entitas Anak Subsidiaries
Pajak Penghasilan: Income Tax:
Pasal 4 (2) 5,177,222 12,665,878 Article 4 (2)
Pasal 21 4,259,803 3,726,995 Article 21
Pasal 23 668,655 1,297,505 Article 23
Pasal 26 14,293 13,712 Article 26
Pasal 29 546,490 1,354,816 Article 29
Pajak Pertambahan Nilai 1,757,629 38,853 Value Added Tax
12,424,092 19,097,759
Jumlah 261,565,448 107,060,403 Total
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 46 Paraf:
c. Beban Pajak Penghasilan c. Income Tax Expenses
2014 2013
Rp Rp
Perusahaan The Company
Pajak Kini 526,662,455 299,062,091 Current tax
Pajak Tangguhan 36,132,729 64,523,831 Deferred Tax
562,795,184 363,585,922
Entitas Anak Subsidiaries
Pajak Kini 4,981,039 1,537,942 Current tax
Pajak Tangguhan 38,865,843 16,726,420 Deferred Tax
43,846,882 18,264,362
Konsolidasian Consolidated
Pajak kini 531,643,494 300,600,033 Current Tax
Pajak Tangguhan 74,998,572 81,250,251 Deffered Tax
Jumlah 606,642,066 381,850,284 Total
Pajak Kini Current Tax Rekonsiliasi antara laba sebeIum pajak penghasilan menurut laporan laba rugi dengan laba kena pajak:
A reconciliation between income before income tax as reported in the statements of income and taxable income is as follows:
2014 2013
Rp Rp
Laba Konsolidasian Sebelum Pajak
Penghasilan Badan 1,821,973,793 1,310,638,031 Consolidated Income Before Tax
Dikurangi: Laba (Rugi) Entitas Anak (144,249,845) (80,609,531) Less: Portion of Subsidiaries Income (Loss)
Laba Sebelum Pajak Penghasilan - Perusahaan 1,966,223,638 1,391,247,562 Income Before Tax - The Company
Perhitungan Pajak Penghasilan Perusahaan Calculation of Income Tax -
sebagai berikut: the Company as follows:
Koreksi Positif (Negatif) atas Positive (Negative) Corrections on
Laba Komersial: Commercial Income:
Beban Pengumpulan Tol 9,578,146 20,358,453 Toll Road Collection Expenses
Pendapatan Konstruksi (243,104,218) (755,561,481) Construction Revenues
Beban Pelayanan Pemakai Jalan ToI 5,135,293 2,570,683 Toll Road Services Expenses
Beban Pemeliharaan Jalan Tol 1,391,922 1,183,047 Maintenance Cost of Toll Road
Beban Konstruksi 238,571,362 749,452,797 Construction Expenses
Beban Umum dan Administrasi 59,365,201 56,009,933 General and Administrative Expenses
Bagian Rugi Perusahaan Asosiasi 399,621,370 155,852,504 Income (loss) of Associates
Penyusutan Aset Tetap, Pelapisan Ulang Depreciation of Fixed Assets, Overlay Charges
dan Amortisasi Biaya Emisi Obligasi (211,900,313) (310,936,161) and Amortization of Bond Issuance Cost
Tantiem 20,000,000 19,250,000 Bonuses
Realisasi Pembayaran Tantiem (19,000,000) (12,000,000) Realization of Payment Bonuses
Beban Bunga 134,687,115 93,363,207 Interest Expenses
Penghasilan Dikenakan Pajak Final (329,319,257) (423,632,083) Income Subject to Final Tax
Biaya Perolehan Penghasilan Dikenakan Acquisition Cost of Income Subject
Pajak Final 3,469,524 151,578,634 to Final Tax
Liabilitas Imbalan Kerja 67,369,398 52,840,837 Employee Benefits Obligation
Beban Piutang Karyawan 861,844 1,327,219 Employee Receivable Expenses
Beban Bunga Efektif Interest Rate 3,698,796 3,343,212 Effective Rate Interest Expenses
Jumlah 140,426,183 (194,999,199) Total
Laba Kena Pajak 2,106,649,821 1,196,248,363 Taxable Income
Beban Pajak Kini pada Tarif Pajak yang Berlaku 526,662,455 299,062,091 Current Tax Expense at Effective Tax Rate
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 47 Paraf:
2014 2013
Rp Rp
Dikurangi: Uang Muka Pajak Less: Prepaid Taxes
Pajak Penghasilan Pasal 23 604,479 375,192 Income Tax Article 23
Pajak Penghasilan Pasal 25 385,475,637 362,235,922 Income Tax Article 25
Jumlah 386,080,116 362,611,114 Total
Kurang (Lebih) Bayar Pajak Penghasilan Less (excess) Payment Income Tax
Perusahaan 140,582,339 (63,549,023) The Company
Entitas Anak 546,490 1,354,816 Subsidiaries
Jumlah Lebih Bayar (Utang) Pajak - Consolidated - Income Tax Over Payment
Konsolidasian 141,128,829 (62,194,207) (Payable)
Berdasarkan peraturan perpajakan Indonesia, Perusahaan menyampaikan surat pemberitahuan sendiri atas jumlah pajak yang terutang. Direktorat Jenderal Pajak dapat menetapkan dan mengubah kewajiban pajak dalam batas waktu 5 tahun sejak tanggal terutangnya pajak.
Under the taxation laws of Indonesia, the Company submits tax returns on the basis of self-assessment. The Directorate General of Taxes may assess and amend the tax payable within 5 years after the date when the tax becomes payable.
Perhitungan pajak penghasilan revisi untuk tahun yang berakhir pada tanggal 31 Desember 2013 akan dilaporkan dalam SPT Tahunan Pajak Penghasilan yang disampaikan ke Kantor Pajak.
The revised income tax calculation for the year ended December 31, 2013 will be reported in the Annual Corporate Income Tax Return submitted to the Tax Office.
Pajak Tangguhan Deferred Tax Pajak tangguhan dihitung berdasarkan pengaruh dari perbedaan temporer antara jumlah tercatat aset dan liabilitas menurut laporan keuangan dengan dasar pengenaan pajak aset dan liabilitas. Rincian aset dan liabilitas pajak tangguhan sebagai berikut:
Deferred tax is calculated using all temporary differences between tax bases of assets and liabilities and their carrying amounts in the financial statements. The details of deferred tax assets and liabilities are as follows:
31 Desember 2012/ Dibebankan ke Penyesuaian/ 31 Desember 2013/ Dibebankan ke 31 Desember 2014/
December 31, 2012 Laba Rugi/ Adjustment December 31, 2013 Laba Rugi/ December 31, 2014
Charged to Charged to
Statements Statements
Income Income
Rp Rp Rp Rp Rp Rp
Liabilitas (Aset) Pajak Tangguhan/
Deferred Tax Liabilities (Assets)
Perusahaan/ The Company
Aset Tetap dan Aset Tak Berwujud/
Fixed Assets and Intangible Assets 508,679,678 79,661,306 4,177,326 592,518,310 58,503,875 651,022,185
Provisi Pelapisan Jalan Tol/
Provision for Overlay 8,772,625 (1,927,266) -- 6,845,359 (5,426,509) 1,418,850
Liabilitas Imbalan Kerja/
Employee Benefits Liabilities (63,308,429) (13,210,209) (3,836,287) (80,354,925) (16,944,637) (97,299,562)
Jumlah/ Total 454,143,874 64,523,831 341,039 519,008,744 36,132,729 555,141,473
Entitas Anak/ Subsidiaries
Aset Tetap dan Aset Tak Berwujud/
Fixed Assets and Intangible Assets 14,136,341 26,042,917 -- 40,179,258 41,370,441 81,549,699
Provisi Pelapisan Jalan Tol/
Provision for Overlay -- (3,239,186) -- (3,239,186) (3,188,594) (6,427,780)
Liabilitas Imbalan Kerja/
Employee Benefits Liabilities (2,129,582) 997,653 -- (1,131,929) 683,996 (447,933)
Penyisihan Kerugian Penurunan Piutang/
Allowance for Impairment Losses -- (2,390,137) -- (2,390,137) -- (2,390,137)
Rugi Fiskal/ Fiscal Loss 415,295 (4,684,827) 344,336 (3,925,196) -- (3,925,196)
Jumlah/ Total 12,422,054 16,726,420 344,336 29,492,810 38,865,843 68,358,653
Liabilitas Pajak Tangguhan Konsolidasian/
Consolidated Deferred Tax Liabilities 466,565,928 81,250,251 685,375 548,501,554 74,998,572 623,500,126
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 48 Paraf:
Rekonsiliasi antara beban pajak penghasilan dan hasil perkalian laba akuntansi sebelum pajak penghasilan dengan tarif pajak yang berlaku sebagai berikut:
The reconciliation between income tax expense and the result of the multiplication of accounting income before income tax with the current tax rate is as follows:
2014 2013
Rp Rp
Laba Sebelum Pajak Penghasilan Perusahaan 1,966,223,638 1,391,247,562 Income BeforeTax of the Company
Beban Pajak pada Tarif yang Berlaku 491,555,910 347,811,891 Tax Expense at Effective Tax Rate:
Beban Pengumpulan Tol 2,394,537 5,089,613 Toll Road Collection Expenses
Pendapatan Konstruksi (60,776,055) (188,890,370) Construction Revenue
Beban Pelayanan Pemakai Jalan Tol 1,283,823 642,671 Toll Road Services Expenses
Beban Pemeliharaan Jalan Tol 347,981 295,762 Toll Road Maintenance Expenses
Beban Konstruksi 59,642,841 187,363,199 Construction Expenses
Beban Umum dan Administrasi 14,841,300 14,002,483 General and Administrative Expenses
Bagian Rugi Perusahaan Asosiasi 99,905,343 38,963,126 Profit on Associate Companies’ Net Income
Penyusutan Aset Tetap, Pelapisan Ulang Depreciation of Fixed Asset, Amortization of
dan Amortisasi Biaya Emisi Obligasi (52,975,078) (77,734,040) Overlay Charges and Bond Issuance Cost
Tantiem 5,000,000 4,812,500 Bonuses
Realisasi Pembayaran Tantiem (4,750,000) (3,000,000) Realization of Payment Bonuses
Beban Bunga 33,671,779 23,340,802 Interest Expenses
Penghasilan Dikenakan Pajak Final (82,329,814) (105,908,021) Income Subject to Final Tax
Biaya Perolehan Penghasilan Dikenakan Acquisition Cost of Income Subject to
Pajak Final 867,381 37,894,659 Final Tax
Liabilitas Imbalan Kerja 16,842,350 13,210,209 Employee Benefits Obligation
Beban Piutang Karyawan 215,461 331,805 Employee Receivable Expense
Beban Bunga Efektif Interest Rate 924,696 835,802 Effective Rate Interest Expenses
Jumlah 35,106,545 (48,749,800) Total
Jumlah Beban Pajak Kini 531,643,494 300,600,033 Total Current Tax Expenses
Jumlah Beban Pajak Tangguhan 74,998,572 81,250,251 Total Deferred Tax Expenses
Jumlah Beban Pajak – Konsolidasian 606,642,066 381,850,284 Total of Tax Expenses – Consolidation
9. Dana Ditetapkan Penggunaannya 9. Appropriated Funds
2014 2013
Rp Rp
Jaminan Pelaksanaan/ Performance Bond
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 16,350,000 27,656,063
Jaminan Pembebasan Tanah/ Land Acquisition Guarantees
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 21,630,940 6,496,257
Pihak Ketiga/ Third Parties
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 32,110,503 44,036,995
PT Bank Bukopin Tbk 6,800,000 11,250,000
PT Bank UOB Indonesia -- 26,850,000
Jaminan Sindikasi Bank/ Syndicated Bank Guarantees
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 130,667,718 110,015,112
Pihak Ketiga/ Third Parties
PT Bank Central Asia, Tbk 4,390,033 --
PT Bank Pembangunan Daerah Jawa Tengah 156,443 --
Rekening Khusus/ Special Account 604,798,152 233,010,674
Jumlah/ Total 816,903,789 459,315,101
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 49 Paraf:
Rekening Khusus Appropriated Account Rekening khusus merupakan rekening atas pendapatan dari pengoperasian JORR Seksi S setelah dikurangi biaya operasional, termasuk didalamnya beban amortisasi, dan pemeliharaan yang dipisahkan dan dimasukkan dalam rekening khusus sesuai dengan Surat Keputusan Menteri Pekerjaan Umum No. 80.1/KPTS/M/ 2013 tanggal 25 Pebruari 2013 (lihat Catatan 44.h).
Appropriated account represents account derived from operational income of JORR Section S after deduction of operational, including amortization expense and maintenance expenses which were separated and transferred to a specific account in accordance with Decision Letter of Minister of Public Works No.80.1/KPTS/M/2013 date February 25, 2013 (see Note 44.h).
10. Investasi pada Entitas Asosiasi 10. Investments in Associates
Perusahaan memiliki penyertaan saham pada entitas asosiasi yang dipertanggungjawabkan dengan metode ekuitas. Nilai tercatat penyertaan saham tersebut sebagai berikut:
The Company has investments in associates which accounted for using the equity method. The carrying values of such investment in shares are as follows:
Nilai Tercatat Penambahan Nilai Tercatat
Penyertaan (Pengurangan) Bagian Laba Penyertaan
Persentase Awal Tahun/ Penyertaan/ (Rugi) Bersih/ Penerimaan Akhir Tahun/
Kepemilikan/ Carrying Value Additions Portion in Dividen/ Carrying
Entitas Asosiasi/ Percentage at Beginning (Deduction) Net Profit Dividend Value at End
Associates Company Status Ownership of Year of Investment (Loss) Received of Year
PT Citra Bhakti Margatama Pengakhiran PKP/
Persada (CBMP) Termination of
Concession 34.83 56,787,000 -- -- -- 56,787,000
PT Citra Ganesha Marga Pengakhiran PKP/
Nusantara (CGMN) Termination of
Concession 30.00 16,914,266 -- -- -- 16,914,266
PT lsmawa Trimitra (IT) Operasi/ Operate 25.00 8,976,442 -- 1,030,628 (1,149,845) 8,857,225
PT Bukaka Marga Utama (BMU) Belum Operasi/
Not Yet Operated 20.00 9,436,000 -- -- -- 9,436,000
PT Trans Lingkar Kita Jaya (TLKJ) Operasi/ Operate 21.24 170,260,633 -- (7,772,587) -- 162,488,046
262,374,341 -- (6,741,959) (1,149,845) 254,482,537
Dikurangi/ Deducted
Penurunan Nilai Penyertaan pada CBMP/ (56,786,999) (56,786,999)
Impairment of Investment in CBMP
Penurunan Nilai Penyertaan pada CGMN/ (16,914,265) (16,914,265)
Impairment of Investment in CGMN
Penurunan Nilai Penyertaan pada BMU/ (9,435,999) (9,435,999)
Impairment of Investment in BMU (83,137,263) (83,137,263)
Jumlah/ Total 179,237,078 171,345,274
31 Desember/ December 2014
Perubahan Selama Periode Berjalan/
Changes in Current Period
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 50 Paraf:
Nilai Tercatat Penambahan Nilai Tercatat
Penyertaan (Pengurangan) Bagian Laba Penyertaan
Persentase Awal Tahun/ Penyertaan/ (Rugi) Bersih/ Penerimaan Akhir Tahun/
Kepemilikan/ Carrying Value Additions Portion in Dividen/ Carrying
Entitas Asosiasi/ Percentage at Beginning (Deduction) Net Profit Dividend Value at End
Associates Company Status Ownership of Year of Investment (Loss) Received of Year
PT Citra Bhakti Margatama Pengakhiran PKP/
Persada (CBMP) Termination of
Concession 34.83 56,787,000 -- -- -- 56,787,000
PT Citra Ganesha Marga Pengakhiran PKP/
Nusantara (CGMN) Termination of
Concession 30.00 16,914,266 -- -- -- 16,914,266
PT Jatim Marga Utama (JMU) Belum Operasi/
Not Yet Operated -- 12,858,000 (12,858,000) -- -- --
PT lsmawa Trimitra (IT) Operasi/ Operate 25.00 8,305,808 -- 670,634 -- 8,976,442
PT Bukaka Marga Utama (BMU) Belum Operasi/
Not Yet Operated 20.00 9,436,000 -- -- -- 9,436,000
PT Trans Lingkar Kita Jaya (TLKJ) Operasi/ Operate 21.24 154,581,281 21,240,000 (5,560,648) -- 170,260,633
258,882,355 8,382,000 (4,890,014) -- 262,374,341
Dikurangi/ Deducted
Penurunan Nilai Penyertaan pada CBMP/ (56,786,999) (56,786,999)
Impairment of Investment in CBMP
Penurunan Nilai Penyertaan pada CGMN/ (16,914,265) (16,914,265)
Impairment of Investment in CGMN
Penurunan Nilai Penyertaan pada BMU/ (9,435,999) (9,435,999)
Impairment of Investment in BMU (83,137,263) (83,137,263)
Jumlah/ Total 175,745,092 179,237,078
31 Desember/ December 2013
Perubahan Selama Periode Berjalan/
Changes in Current Period
a. PT Citra Bhakti Margatama Persada (CBMP) a. PT Citra Bhakti Margatama Persada (CBMP) PT Citra Bhakti Margatama Persada didirikan berdasarkan Akta No. 50, tanggal 11 Desember 1995 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada CBMP dilakukan sehubungan dengan penyelenggaraan proyek jalan tol JORR Seksi E2-E3- N (Cikunir-Cakung-Cilincing-Tanjung Priok) untuk jangka waktu 33 tahun yang berakhir pada tahun 2028, Perusahaan memiliki 56.787.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 56.787.000.000 (Rupiah penuh) yang merupakan 34,83% kepemilikan.
PT Citra Bhakti Margatama Persada was established based on the Deed No.50, dated December 11, 1995 of Notary Siti Pertrwi Henny Singgih, SH. The investment in CBMP was made in relation to the construction and operation of JORR toll road Section E2-E3-N (Cikunir-Cakung-Cilincing-Tanjung Priok) for a period of 33 years ending in 2028. The Company owns 56,787,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 56,787,000,000 (full Rupiah), representing 34.83% ownership.
Pembangunan jalan tol oleh CBMP dibiayai dari fasilitas pinjaman sindikasi bank. Krisis ekonomi telah menyebabkan ketidakpastian terhadap kemampuan CBMP dalam menyelesaikan kewajibannya pada saat jatuh tempo dan dalam merealisasikan fasilitas pinjaman untuk pembiayaan jalan tol tahap konstruksi. Restrukturisasi perbankan yang dilakukan terhadap sebagian dari kreditur CBMP telah mengakibatkan penghentian pelaksanaan pembangunan jalan tol. Adanya surat Perusahaan kepada CBMP No. AA.02.1009 tanggal 25 JuIi 2000 mengenai pengakhiran PKP No.96 tanggal 16 Desember 1995 mengakibatkan penyertaan Perusahaan pada entitas asosiasi ini tidak memiliki nilai ekonomis. Perusahaan mengakui kerugian penurunan nilai penyertaan saham pada CBMP pada tahun 2000 sebesar Rp 56.786.999.000 (Rupiah penuh).
Toll road construction by CBMP was financed by loan facilities from a banking syndicate. The economic crisis created uncertainty of the ability of CBMP to settle its liabilities at the maturity date and in using the loan facilities to finance the toll road construction progress. A banking restructuring conducted by certain of CBMP’s creditors resulted in the stoppage of toll road construction. The Company issued Letter No. AA.02.1009, dated July 25, 2000 to CBMP regarding the termination of the Concession Agreement No. 96, dated December 16, 1995. As a consequence of this termination the Company’s investment in the associate company has no economic value. The Company has recognized loss on impairment of the investment shares of CBMP in 2000 amounting to Rp 56,786,999,000 (full Rupiah).
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 51 Paraf:
b. PT Citra Ganesha Marga Nusantara (CGMN) b. PT Citra Ganesha Marga Nusantara (CGMN) PT Citra Ganesha Marga Nusantara didirikan berdasarkan Akta No. 300, tanggal 22 Desember 1993 dari Notaris Siti Pertiwi Henny Singgih, SH, juncto Akta No. 67, tanggal 7 Juli 1994 dari Notaris Sri Laksmi Damayanti, SH. Penyertaan pada CGMN dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Cikampek–Padalarang. Perusahaan memiliki 5.310 saham dengan nilai nominal Rp 1.841.000 (Rupiah penuh) per saham atau setara dengan Rp 9.775.710.000 (Rupiah penuh) yang merupakan 30% kepemilikan.
PT Citra Ganesha Marga Nusantara was established based on the Deed No. 300, dated December 22, 1993, of Notary Siti Pertiwi Henny Singgih, SH, in conjunction with the Deed No. 67, dated July 7, 1994 of Notary Sri Laksmi Damayanti, SH. The investment in CGMN was made in relation to the construction and operation of the Cikampek – Padalarang toll road project. The Company owns 5,310 shares at par value of Rp 1,841,000 (full Rupiah) per share or equivalent to Rp 9,775,710,000 (full Rupiah) representing 30% ownership.
Berdasarkan surat Menteri Pekerjaan Umum Republik Indonesia No. KU.201-Mn/68 tanggal 4 Maret 1996 dan surat Menteri Keuangan Republik Indonesia No. 1562/A/52/0496 tanggal 18 April 1996, Perusahaan memperoleh pengalihan Intelectual Property Rights (IPR) dalam bentuk disain proyek jalan tol Cikampek – Padalarang sebesar UK Poundsterling 4,700,000 atau setara dengan Rp 16.914.266.000 (Rupiah penuh) sebagai Tambahan Modal Disetor Pemerintah pada Perusahaan. Selanjutnya, Perusahaan mengalihkan IPR tersebut kepada CGMN sebagai penyertaan saham Perusahaan di CGMN. Berdasarkan perjanjian usaha patungan antara Perusahaan dengan CGMN, IPR tersebut dinilai setara dengan USD 8,530,000. Berdasarkan Keputusan Rapat Umum Pemegang Saham Luar Biasa CGMN tanggal 10 Juli 1998 mengenai Peningkatan Modal Disetor, kepemilikan saham pada CGMN sejumlah 8.530 saham dengan nilai nominal USD 8,530,000 atau setara dengan Rp 16.914.266.000 (Rupiah penuh).
Based on the Decree of the Minister of Public Works of the Republic of Indonesia No. KU.201-Mn/68 dated March 4, 1996 and the Letter of the Minister of Finance of the Republic of Indonesia No. 1562/A/52/0496 dated April 18, 1996, the Company obtained a transfer of “Intelectual Property Rights (IPR)” in the form of project design of Cikampek – Padalarang toll road amounting to Great Britain Poundsterling 4,700,000 or equivalent to Rp 16,914,266,000 (full Rupiah) as Additional Paid up Capital from the Government to the Company. The Company then transferred the IPR to CGMN as an investment by the Company in CGMN. Based on the joint venture agreement between the Company and CGMN, the IPR was valued equal to USD 8,530,000. According to the decision of the Extraordinary General Meeting of Shareholders held by CGMN on July 10, 1998 regarding the increase in paid up capital, the Company owns 8,530 shares at par value of USD 8,530,000 or equal to Rp 16,914,266,000 (full Rupiah).
Berdasarkan surat Perusahaan kepada CGMN No. AA.HK01.1273 tanggal 25 Juli 2001 mengenai pengakhiran PKP No. 297 sebagai tindak lanjut dari Surat Keputusan Menteri Pemukiman dan Prasarana Wilayah Republik Indonesia (Menkimpraswil) No. 417, tanggal 18 Juli 2001 mengenai pencabutan Keputusan Menteri Pekerjaan Umum Republik Indonesia No. 321/KPTS/1994, tanggal 24 Oktober 1994 mengenai Pemberian Izin Kerjasama Penyelenggaraan Jalan Tol Cikampek – Padalarang kepada Perusahaan dalam bentuk usaha patungan dengan CGMN mengakibatkan penyertaan Perusahaan pada entitas asosiasi ini tidak memiliki nilai ekonomis. Perusahaan mengakui kerugian penurunan nilai penyertaan saham pada CGMN sebagai beban tahun 2001 sebesar Rp 16.914.266.000 (Rupiah penuh).
On July 25, 2001, based on the Company’s Letter No. AA.HK01.1273 to CGMN regarding termination of the Concession Agreement No. 297 in order to implement the Decree of the Minister of Settlement and Regional Infrastructure of the Republic of Indonesia No. 417 dated July 18, 2001 regarding cancellation of the Decree of the Minister of Public Works of the Republic of Indonesia No. 321/KPTS/1994 dated October 24,1994 regarding the Granting of license to Concession Agreement to the Company to operate the Cikampek – Padalarang toll road in the form of a joint venture with CGMN. Due to such termination, the investment in CGMN has no economic value. The Company recognized loss on the permanent impairment of this investment in shares of CGMN as an expense in 2001 amounting to Rp 16,914,266,000 (full Rupiah).
c. PT Ismawa Trimitra (IT) c. PT Ismawa Trimitra (IT) PT Ismawa Trimitra didirikan berdasarkan akta notaris No. 69 tanggal 14 Juni 1995 dibuat oleh Imas Fatimah, S.H., dalam rangka pengusahaan jasa sewa ruang perkantoran dan tempat istirahat di ruas tol. Anggaran Dasar IT telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris No. 1 tanggal 4
PT Ismawa Trimitra was established based on notarial deed No. 69 dated June 14, 1995 of Imas Fatimah, S.H., aimed to develop services in office spaces and rest area spaces rental. IT’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 1 dated September 4, 2014 of
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 52 Paraf:
September 2014 dari Lumassia, S.H. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat Keputusan No. AHU-27882.40.22.2014 tanggal 4 September 2014. IT berdomisili di Jakarta.
Lumassia, S.H. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-27882.40.22.2014 dated September 4, 2014. IT is domiciled in Jakarta.
Perusahaan memiliki 6.250.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 6.250.000.000 (Rupiah penuh), yang merupakan 25% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 6,250,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 6,250,000,000 (full Rupiah), representing 25% ownership as of December 31, 2014.
d. PT Bukaka Marga Utama (BMU) d. PT Bukaka Marga Utama (BMU) PT Bukaka Marga Utama didirikan berdasarkan Akta No. 5 tanggal 17 Pebruari 1997 dari Notaris Sri Rahayu Sedyono, SH. Penyertaan pada BMU dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Ciawi-Sukabumi. Perusahaan memiliki 4,000 saham dengan nilai nominal Rp 2.359.000 (Rupiah penuh) per saham atau setara dengan Rp 9.436.000.000 (Rupiah penuh) yang merupakan 20% kepemilikan.
PT Bukaka Marga Utama was established based on the Deed No. 5 dated February 17, 1997 of Notary Sri Rahayu Sedyono, SH, The investment in BMU was made in relation to the construction and operation of the Ciawi-Sukabumi toll road project. The Company owns 4,000 shares at par value Rp 2,359,000 (full Rupiah) per share or equivalent to Rp 9,436,000,000 (full Rupiah), representing of 20% ownership.
Pemegang saham mayoritas BMU tidak dapat memberi kepastian atas pembangunan ruas jalan tol yang telah disetujui sesuai dengan PKP. Perusahaan mengakui kerugian penurunan nilai atas penyertaan saham pada BMU sebagai beban tahun 2005 sebesar Rp 9.435.999.000 (Rupiah penuh).
Since the majority shareholders of BMU could not give assurance regarding the toll road development as agreed under the Concession Agreements, the Company recognized the loss on impairment of this investment as an expense in 2005 amounted to Rp 9,435,999,000 (full Rupiah).
e. PT Trans Lingkar Kita Jaya (TLKJ) e. PT Trans Lingkar Kita Jaya (TLKJ) PT Trans Lingkar Kita Jaya didirikan berdasarkan akta notaris No. 18 tanggal 19 Januari 2006 dari Agus Madjid, S.H., dalam rangka pengusahaan ruas tol Cinere-Jagorawi. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C-03269.HT.01.01 tanggal 7 Pebruari 2006. Anggaran Dasar TLKJ telah beberapa kali diubah dengan perubahan terakhir berdasarkan akta notaris No. 76 tanggal 29 November 2012 dari Nanette Cahyanie Handari Adi Warsito, S.H.. Akta perubahan disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.10-42622 tanggal 30 November 2012. TLKJ berdomisili di Jakarta.
PT Trans Lingkar Kita Jaya was established based on notarial deed No. 18 dated January 19, 2006 of Notary Agus Madjid, S.H., aimed to develop Cinere-Jagorawi toll road. The deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. C-03269.HT.01.01 dated February 7, 2006. TLKJ’s Articles of Association had been amended several times, which the latest was based on notarial deed No. 76 dated November 29, 2012 of Nanette Cahyanie Handari Adi Warsito, S.H. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-AH.01.10-42622 dated November 30, 2012. TLKJ is domiciled in Jakarta.
Perusahaan memiliki 131.688 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 131.688.000.000 (Rupiah penuh), yang merupakan 21,24% kepemilikan pada tanggal 31 Desember 2014.
The Company owns 131,688 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 131,688,000,000 (full Rupiah), representing 21.24% ownership as of December 31, 2014.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 53 Paraf:
11. Aset Keuangan Lainnya 11. Other Financial Assets
Perusahaan memiliki penyertaan saham yang dikategorikan sebagai aset keuangan tersedia untuk di jual yang dicatat sebagai harga perolehan sebagai berikut:
The Company has investment in shares categorized as available-for-sale financial asset that accounted for at cost which detail as follow:
Perusahaan/ Company Status/ Status Rp % Rp %
PT Jakarta Lingkar Barat Satu (JLB) Operasi/ Operate 180,632,000 19.10 180,632,000 19.10
PT Marga Mandala Sakti (MMS) Operasi/ Operate 28,000,000 1.94 28,000,000 1.94
PT Citra Margatama Surabaya (CMS) Operasi/ Operate 20,000,000 5.26 20,000,000 5.26
PT Marga Nurindo Bhakti (MNB) Pengakhiran PKP/
Termination of
Concession 9,500,000 10.00 9,500,000 10.00
PT Margabumi Matraraya (MBM) Operasi/ Operate 5,500,000 6.47 5,500,000 6.47
PT Citra Mataram Satriamarga Persada (CMSP) Pengakhiran PKP/
Termination of
Concession 4,725,000 15.00 4,725,000 15.00
PT Margaraya Jawa Tol (MJT) Belum Operasi/
Not Yet Operated 4,143,438 2.47 4,143,438 2.47
PT Bosowa Marga Nusantara (BMN) Operasi/ Operate 3,332,000 1.47 3,332,000 1.47
PT Jatim Marga Utama (JMU) Belum Operasi/
Not Yet Operated 3,000,000 7.00 3,000,000 7.00
PT Marga Mawatindo Esprit (MME) Pengakhiran PKP/
Termination of
Concession 2,780,862 8.33 2,780,862 8.33
PT Marga Net One Limited (MNOL) Pengakhiran PKP/
Termination of
Concession 15,291 10.00 15,291 10.00
261,628,591 261,628,591
Jumlah/ Total 261,628,591 261,628,591
Dikurangi/Deducted:
Penurunan Nilai Penyertaan pada MNB/
Impairment of Investment in MNB (9,499,999) (9,499,999)
Penurunan Nilai Penyertaan pada CMSP/
Impairment of Investment in CMSP (4,724,999) (4,724,999)
Penurunan Nilai Penyertaan pada MME/
Impairment of Investment in MME (2,780,860) (2,780,860)
Penurunan Nilai Penyertaan pada MNOL/
Impairment of Investment in MNOL (15,289) (15,289)
(17,021,147) (17,021,147)
Jumlah/ Total 244,607,444 244,607,444
2014 2013
a. PT Jakarta Lingkar Baratsatu (JLB) a. PT Jakarta Lingkar Baratsatu (JLB)
Perusahaan telah melakukan pengakhiran kerjasama penyelenggaraan jalan tol JORR Seksi W1 dan pencabutan izin kerjasama dalam Surat Keputusan Menteri Pekerjaan Umum No. 80/KPTS/1997 tanggal 4 April 1997 sehubungan dengan tidak adanya kejelasan kelanjutan pembangunan proyek jalan tol JORR W-1. Menunjuk surat Menteri Pekerjaan Umum No. JL.0103-Mn/271, tanggal 31 Maret 2005, Menteri Pekerjaan Umum
The Company had terminated cooperation in completing Toll Road JORR Section W1 and withdrawn cooperation license in the Decree of the Minister of Public Works No. 80/KPTS/1997 dated April 4, 1997 due to there’s no clear willingness to continue construction project of Toll Road JORR W-1. With reference to the Decree of the Minister of Public Works No. JL.0103-Mn/271 dated March 31, 2005; the Minister of Public Works asked the
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
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meminta Perusahaan dan JLB melakukan penilaian kembali tentang kelayakan untuk melanjutkan kerjasama dalam pelaksanaan pembangunan ruas jalan tol JORR Seksi W-1.
Company and JLB to conduct reevaluation on the feasibility of continuing cooperation in development of Toll Road JORR Section W-1.
Pada tanggal 2 Pebruari 2007, PT Jakarta Lingkar Baratsatu (JLB) selaku pemegang hak pengusahaan jalan tol JORR Seksi W-1 telah menandatangani Perjanjian Pengusahaan Jalan Tol (PPJT) JORR Seksi W-1 No. 02/PPJT/II/Mn/2007 dengan masa konsesi selama 35 tahun dan berlaku efektif sejak 2 Pebruari 2007. Berdasarkan perjanjian penyertaan saham pada JLB No.2 tanggal 4 Pebruari 2009 dari Notaris Febrian, S.H.. Perusahaan melakukan penyertaan pada JLB dengan cara in-kind berupa bangunan Simpang Susun Penjaringan dengan nilai penyertaan sebesar Rp 180.632.000.000 (Rupiah penuh) atau setara dengan 180.632 saham dengan nilai nominal Rp 1.000.000 per lembar, atau setara dengan 23% penyertaan dari total saham ditempatkan.
On February 2, 2007, PT Jakarta Lingkar Baratsatu (JLB) as the owner of concession rights of Toll Road JORR Section W1 has entered into Contract of Concession Toll Road JORR Section W-1 No. 02/PPJT/II/Mn/2007 with concession period of 35 years and effectively on February 2, 2007. Based on agreement of the investments in shares of JLB No.2 dated February 4, 2009 from Notary Febrian, S.H.. The Company had participated in JLB with in-kind method for building of Simpang Susun Penjaringan with participation value of Rp 180,632,000,000 (full Rupiah) or equivalent to 180,632 shares wih par value Rp 1,000,000 per share, or equivalent to 23% participation from total issued share capital.
Berdasarkan Berita Acara Rapat Umum Luar Biasa Pemegang Saham No. 18 tanggal 28 September 2009 dari Notaris Kartono, S.H., penyertaan Perusahaan terdilusi menjadi 19,1%.
“Based on Minutes of the Extraordinary General Meeting of Shareholders No. 18 dated September 28, 2009 by Notary Kartono, S.H., the Company‟s ownership was diluted to 19.1%”
b. PT Marga Mandala Sakti (MMS) b . PT Marga Mandala Sakti (MMS) PT Marga Mandala Sakti didirikan berdasarkan Akta No. 14, tanggal 4 Oktober 1989 dari Notaris Kartini Muljadi, SH. Penyertaan pada MMS dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Tangerang – Merak. Perusahaan memiliki 28.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 28.000.000.000 (Rupiah penuh) yang merupakan 8,68% kepemilikan. Berdasarkan Akta No. 4, tanggal 4 April 1995 dari Notaris Sutjipto, SH, penyertaan saham Perusahaan pada MMS sebesar 14.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham telah dijaminkan oleh MMS sehubungan dengan fasilitas kredit sindikasi yang diperoleh MMS.
PT Marga Mandala Sakti was established based on the Deed No.14, dated October 4, 1989 of Notary Kartini Muljadi, SH. The investment in MMS relates to the construction and operation of the Tangerang – Merak toll road. The Company originally owned 28,000,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 28,000,000,000 (full Rupiah), representing 8.68% ownership. Based on the Deed No. 4 dated April 4, 1995 of Notary Sutjipto, SH, the investment in MMS amounting to 14,000,000 shares with the par value of Rp 1,000 (full Rupiah) per share has been pledged by the Company connection with syndicated credit facilities received by MMS.
Berdasarkan risalah RUPSLB dengan Akta No. 5, tanggal 9 Desember 2004 dari Notaris Hendra Karyadi, SH, para pemegang saham menyetujui penerbitan 921.310.773 saham baru kepada pemegang obligasi konversi. Para pemegang saham lama menyatakan telah melepaskan hak masing-masing untuk membeli saham baru yang diterbitkan kepada pemegang obligasi konversi tersebut. Perubahan pemegang saham tersebut sesuai dengan Akta No. 11, tanggal 1 Agustus 2005 dari Notaris Benny Kristianto, SH, mengenai perubahan pemegang saham MMS dan telah diterima oleh Departemen Hukum dan Hak Asasi Manusia Direktorat Administrasi Hukum Umum No.C-UM.02.01.14078, tanggal 23 September 2005, sehingga kepemilikan Perusahaan pada MMS menjadi 1,94%.
Based on the minutes of the Extraordinary General Meeting of Shareholders as included in the Deed No. 5 dated December 9, 2004 of Notary Hendra Karyadi, SH the shareholders agreed with the issuance of 921,310,773 new shares to convertible bondholders. The predecessor shareholders had already waived their rights to subscribe for new shares issued to the convertible bondholders. This change of shareholders according to the Deed No. 11 dated August 1, 2005 of Notary Benny Kristianto, SH, regarding the change of MMS shareholders has been received by the Directorate General of General Law Administration, Department of Law and Human Rights under receipt No.C-UM.02.01.14078, dated September 23, 2005, as a consequence, the Company's ownership in MMS become 1.94%.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
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c. PT Citra Margatama Surabaya (CMS) c. PT Citra Margatama Surabaya (CMS) PT Citra Margatama Surabaya didirikan berdasarkan Akta No. 99, tanggal 26 Desember 1996 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada CMS dilakukan sehubungan dengan penyelenggaraan proyek Jalan Tol Waru–Juanda. Perusahaan memiliki 8.550.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau sebesar Rp 8.550.000.000 (Rupiah penuh) yang merupakan 15% kepemilikan.
PT Citra Margatama Surabaya was established based on the Deed No. 99, dated December 26, 1996 of Notary Siti Pertiwi Henny Singgih, SH. The investment in CMS was made in relation to the constructions and operations of the Waru-Juanda toll road project. The Company owns 8,550,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 8,550,000,000 (full Rupiah), representing 15% ownership.
Berdasarkan Akta No. 717 tanggal 27 Juni 2007 dari Notaris Margaretha Dynawati, SH, para pemegang saham antara lain menyetujui peningkatan modal ditempatkan dan disetor penuh menjadi Rp 380.000.000.000 (Rupiah penuh). Perusahaan hanya melakukan setoran modal sebesar Rp 20.000.000.000 (Rupiah penuh) dari Rp 48.000.000.000 (Rupiah penuh) yang ditetapkan. Dengan demikian kepemilikan Perusahaan di CMS mengalami penurunan menjadi 5,26% yang merupakan 20.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 20.000.000.000 (Rupiah penuh).
Based on the Deed No. 717, dated June 27, 2007 of Notary Margaretha Dynawati, SH, the shareholders agreed to increase the issued and paid up capital to become Rp 380,000,000,000 (full Rupiah). The Company had paid up capital amounted to Rp 20,000,000,000 (full Rupiah) from total Rp 48,000,000,000 (full Rupiah). Therefore, the Company’s ownership in CMS was decreased to become 5.26%, representing 20,000,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 20,000,000,000 (full Rupiah).
Berdasarkan Akta No. 40, tanggal 21 Mei 2005 dari Notaris Poerbaningsih Adi Warsito, SH, Perusahaan dan CMS mengadakan Perjanjian Kuasa Penyelenggaraan yang mengubah wewenang penyelenggaraan jalan tol Waru–Tanjung Perak menjadi kurang lebih 12 Km. Perjanjian Kuasa Penyelenggaraan telah dialihkan menjadi Perjanjian Pengusahaan Jalan Tol (PPJT) antara Pemerintah dengan CMS pada tanggal 12 Pebruari 2007 dengan masa hak pengusahaan (konsesi) hingga tahun 2040.
Based on the Deed No. 40, dated May 21, 2005 of Notary Poerbaningsih Adi Warsito, SH, the Company and CMS entered into a Joint Operation Agreement that changed the authority of Waru –Tanjung Perak toll road to become approximately 12 Km. On February 12, 2007, such Joint Operation Agreement has been changed to a Concession Rights Agreement between the Government and CMS with the concession right until year 2040.
Jalan Tol Waru–Juanda telah beroperasi sejak April 2008.
Waru-Juanda toll road has been operated since April 2008.
d. PT Marga Nurindo Bhakti (MNB) d. PT Marga Nurindo Bhakti (MNB) PT Marga Nurindo Bhakti didirikan berdasarkan Akta No. 9, tanggal 2 Desember 1991 dari Notaris BRAY Mahyastoeti Notonogoro, SH, juncto Akta No. 19, tanggal 4 Maret 1998 dari Agus Madjid, SH. Penyertaan pada MNB dilakukan sehubungan dengan penyelenggaraan proyek Jalan Tol JORR Seksi S dan E1 (Pondok Pinang – Jagorawi – Cikunir). Perusahaan memiliki 1.350 saham dengan nilai nominal Rp 10.000.000 (Rupiah penuh) per saham atau setara dengan Rp 13.500.000.000 (Rupiah penuh) yang merupakan 10% kepemilikan.
PT Marga Nurindo Bhakti was established based on The Deed No. 9, dated December 2, 1991 of Notary BRAY Mahyastoeti Notonogoro, SH, conjunction with the Deed No. 19 dated March 4, 1998 of Agus Madjid, SH. The investment in MNB relates to the construction and operation of the JORR toll road Section S and E1 (Pondok Pinang – Jagorawi – Cikunir). The Company owns 1,350 shares at par value of Rp 10,000,000 (full Rupiah) per share or equivalent to Rp 13,500,000,000 (full Rupiah), representing 10% ownership.
Berdasarkan surat Perusahaan kepada MNB No. AA.HK.02.1143, tanggal 11 Agustus 2000, Perusahaan mengambil alih proyek yang dibangun oleh MNB. Pengambilalihan proyek ini mengakibatkan penyertaan Perusahaan dinilai sudah tidak memiliki nilai ekonomis dan mengakui kerugian atas penurunan nilai penyertaan yang bersifat permanen sebagai beban tahun 2000 sebesar Rp 9.499.999.000 (Rupiah penuh).
Based on the Company’s Letter No. AA.HK.02.1143, dated August 11, 2000 to MNB, the Company took over the JORR sections being built by MNB, with the consequence that the Company’s investment had no economic value, therefore, the Company recognized the loss on the permanent impairment of the investment as an expense in year 2000 amounting to Rp 9,499,999,000 (full Rupiah).
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
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e. PT Margabumi Matraraya (MBMR) e. PT Margabumi Matraraya (MBMR) PT Margabumi Matraraya didirikan berdasarkan akta notaris No. 15 tanggal 15 Pebruari 1991 dari Tawangningrum Purwono, S.H., juncto akta notaris No. 15 tanggal 13 Agustus 1997 dari Agus Hashim Admad, S.H., dalam rangka pengusahaan ruas tol Surabaya-Gresik. Akta pendirian disahkan oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. C2-6158.HT.01.01.th.91 tanggal 28 Oktober 1991.
Anggaran Dasar MBMR telah beberapa kali diubah, dengan perubahan terakhir berdasarkan akta notaris Pernyataan Keputusan di Luar Rapat Umum Pemegang Saham No. 7 tanggal 28 Juni 2013 dari Dra. EC. Inggriani Djojoseputro, S.H., sehubungan dengan peningkatan modal ditempatkan dan disetor. Akta perubahan disahkan oleh Menteri Hukum dan Hak Azasi Manusia dalam Surat Keputusan No. AHU-AH.01.10-32919 tanggal 8 Agustus 2013. Berdasarkan akta perubahan terakhir, kepemilikan Perusahaan mengalami dilusi karena tidak ikut serta dalam penambahan modal disetor.
Perusahaan memiliki 550 saham dengan nilai nominal Rp 10.000.000 (Rupiah penuh) per saham atau setara dengan Rp 5.500.000.000 (Rupiah penuh), yang merupakan 4,92% kepemilikan per 31 Desember 2014.
PT Margabumi Matraraya was established based on notarial deed No. 15 dated February 15, 1991 of Tawangningrum Purwono, S.H., in conjunction with notarial deed No. 15 dated August 13, 1997 of Agus Hashim Admad, S.H., aimed to develop Surabaya-Gresik toll road. The deed of establishment was approved by Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. C2-6158.HT.01.01.th.91 dated October 28, 1991.
MBMR’s Articles of Association had been amended several times, which the latest was based on notarial deed Decision Statement in the Off-General Shareholders’ Meeting No. 7 dated June 28, 2013 of Dra. EC. Inggriani Djojoseputro, S.H., in accordance with the increase of issued and pain in capital. The deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-AH.01.10-32919 dated Agustus 8, 2013. Based on the the latest deed of amendment, Company’s ownership diluted since it did not contribute in the additional of paid in capital.
The Company owns 550 shares at par value or Rp 10,000,000 (full Rupiah) per share or equivalent to Rp 5,500,000,000 (full Rupiah), representing 4.92% ownership as of December 31, 2014.
f. PT Citra Mataram Satriamarga Persada (CMSP) f. PT Citra Mataram Satriamarga Persada (CMSP)
PT Citra Mataram Satriamarga Persada didirikan berdasarkan Akta No. 36, tanggal 12 April 1996 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada CMSP dilakukan sehubungan dengan penyelenggaraan proyek jalan tol JORR Seksi W2 (Kebon Jeruk – Pondok Pinang). Perusahaan memiliki 4.725.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 4.725.000.000 (Rupiah penuh) yang merupakan 15% kepemilikan.
PT Citra Mataram Satriamarga Persada was established based on the Deed No. 36, dated April 12, 1996 of Notary Siti Pertiwi Henny Singgih, SH. The investment in CMSP relates to operation of the JORR Section W2 (Kebon Jeruk – Pondok Pinang) toll road project. The Company owns 4,725,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 4,725,000,000 (full Rupiah) representing 15% ownership.
Berdasarkan surat Perusahaan kepada CMSP No. AA.HK.02.820, tanggal 21 Juni 2000, dinyatakan mengenai pengambilalihan proyek dan pengakhiran PKP. Penyertaan Perusahaan pada CMSP ini dipandang sudah tidak memiliki nilai ekonomis, sehingga Perusahaan mengakui kerugian atas penurunan nilai penyertaan sebagai beban tahun 2000 sebesar Rp 4.724.999.000 (Rupiah penuh).
Based on the Company Letter No. AA.HK.02.820, dated June 21, 2000 to CMSP, regarding the takeover of the project and termination of Concession Agreement, the Company’s investment in CMSP is deemed to have no economic value, therefore, the Company has recognized the loss caused by the impairment of this investment as an expense in 2000 amounting to Rp 4,724,999,000 (full Rupiah).
g. PT Margaraya Jawa Tol (MJT) g. PT Margaraya Jawa Tol (MJT)
PT Margaraya Jawa Tol didirikan berdasarkan Akta No. 18, tanggal 6 Juni 1997 dari Notaris Enimarya Agoes Suwarako, SH. Penyertaan pada MJT dilakukan sehubungan dengan penyelenggaraan proyek Jalan Tol Waru (Aloha) – Tanjung Perak. Perusahaan memiliki 4.143.438 saham dengan nilai nominal
PT Margaraya Jawa Tol was established based on the Deed No. 18 dated June 6, 1997 of Notary Enimarya Agoes Suwarako, SH. The investment in MJT relates to the construction and operation of the Waru (Aloha) – Tanjung Perak toll road project. The Company originally owned 4,143,438 shares at par value of Rp 1,000 (full
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
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Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 4.143.438.000 (Rupiah penuh) yang merupakan 5% kepemilikan.
Rupiah), amounting to Rp 4,143,438,000 (full Rupiah), or representing 5% ownership.
Berdasarkan Rapat Umum Pemegang Saham Luar Biasa mengenai restrukturisasi MJT yang tercantum dalam Akta No. 17 tanggal 20 Oktober 2004 dari Notaris Adrian Djuaini, SH, Perusahaan memperoleh 1.250.000 saham dari hasil kapitalisasi atau konversi 20.000.000 saham baru sehingga kepemilikan saham Perusahaan menjadi 5.393.438 saham atau setara dengan Rp 5.393.438.000 (Rupiah penuh). Selain itu, MJT juga mengeluarkan saham baru dari saham portepel sebanyak 110.458.000 saham. Perusahaan tidak ambil bagian dalam tambahan setoran modal disetor tersebut sehingga kepemilikan Perusahaan mengalami penurunan menjadi 2,47%. Pemerintah dan MJT telah menandatangani PPJT pada tanggal 19 Juli 2007 dengan masa konsesi hingga tahun 2047.
Based on the Extraordinary General Meeting of Shareholders, regarding MJT restructuring, as included in the Deed No. 17 dated October 20, 2004 of Notary Adrian Djuaini, SH, the Company acquired 1,250,000 shares from capitalization or conversion of convertible bond to 20,000,000 new shares hence the Company’s shares became 5,393,438 shares or equivalent to Rp 5,393,438,000 (full Rupiah). In addition, MJT issued new shares from its portfolio of 110,458,000 shares. The Company did not increase additional paid in capital so that the Company’s ownership decrease to become 2.47%. The Government and MJT have entered into Concession Rights Agreement on July 19, 2007 with concession period until year 2047.
h. PT Bosowa Marga Nusantara (BMN) h. PT Bosowa Marga Nusantara (BMN) PT Bosowa Marga Nusantara didirikan berdasarkan Akta No. 20, tanggal 12 April 1993 dari Notaris Mestariany Habie, SH. Penyertaan pada BMN dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Ujung Pandang yaitu Jalan Satando – Simpang Urip Sumoharjo/Petta Rani (tahap l) – Jalan Sultan Alauddin (tahap ll). Berdasarkan Akta No. 25, tanggal 5 September 1998, Perusahaan memiliki 3.332 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 3.332.000.000 (Rupiah penuh) yang merupakan 10% kepemilikan.
PT Bosowa Marga Nusantara was established based on the Deed No. 20, dated April 12, 1993 of Notary Mestariany Habie, SH. The investment in BMN was made in relation to the construction and operation of the Ujung Pandang toll roads that is Jalan Satando – Urip Sumoharjo Interchange/Petta Rani (phase l) – Jalan Sultan Alauddin (phase ll). Based on the Deed No. 25 dated September 5, 1998, the Company owns 3,332 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 3,332,000,000 (full Rupiah), representing 10% ownership.
Keputusan Menteri Pekerjaan Umum No. 276/KPTS/1994, tanggal 26 Agustus 1994 dan Akta No. 322, tanggal 29 Agustus 1994, dari Notaris Mestariany Habie, SH, menyatakan bahwa BMN mengoperasikan jalan tol selama 30 tahun untuk tahap I dan tahap II akan ditentukan kemudian namun tidak lebih dari 30 tahun sejak dioperasikannya jalan tol baik sebagian atau seluruhnya. Ruas jalan tol Ujung Pandang tahap I dan II telah dioperasikan sejak tahun 1998.
The Decree of the Minister of Public Work No. 276/KPTS/1994, dated August 26, 1994 and the Deed No. 322, dated August 29, 1994 of Notary Mestariany Habie, SH, states that BMN would operate phase I of the toll road for 30 years and phase II will be decided later but not for a period longer than 30 years since the operation of either part of all of the toll road. Phase I and Phase II of the Ujung Pandang toll road has been operated since 1998.
Berdasarkan perubahan Anggaran Dasar BMN yang tercantum dalam Akta Karin Christiana Basoeki, S.H, No.13 tanggal 16 Mei 2008 terdapat peningkatan modal dasar, ditempatkan dan disetor perusahaan. Dengan adanya perubahan tersebut penyertaan saham Perusahaan terdilusi menjadi 1,47%.
Based on amanded the Article of Association of BMN as stated on the Deed No.13 dated May 16, 2008 of notary Karin Christiana Basoeki, S.H, there was the increase of the company’s authorized, issued and fully paid in capital. As result of such amendment, the Company’s investment in shares has been diluted to 1.47%.
i. PT Jatim Marga Utama (JMU) i. PT Jatim Marga Utama (JMU) PT Jatim Marga Utama didirikan berdasarkan Akta No. 25, tanggal 27 Desember 2002 dari Notaris Rosida, S.H., Perusahaan memiliki 12.858 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 12.858.000.000 (Rupiah penuh) yang merupakan 30% kepemilikan.
PT Jatim Marga Utama was established based on the Deed No. 25, dated December 27, 2002 of Notary Rosida, S.H., The Company owns 12,858 shares at a par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 12,858,000,000 (full Rupiah), representing 30% ownership.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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JMU merupakan perusahaan patungan antara Perusahaan dan Pemerintah Daerah Jawa Timur. Perusahaan patungan ini didirikan dengan maksud untuk meneruskan kelanjutan proyek jalan tol Surabaya - Mojokerto yang telah terhenti setelah Menkimpraswil mencabut izin konsesi yang diberikan kepada PT Marga Nujyasumo Agung (MNA) melalui surat Menkimpraswil No.418/KPTS/M/2001 tanggal 18 Juli 2001. Setelah Mahkamah Agung menolak pengajuan Peninjauan Kembali dari Menkimpraswil pada 31 Maret 2005, maka hak penyelenggaraan jalan tol dikembalikan kepada MNA. Sebagai akibatnya, JMU tidak lagi terlibat dalam proyek jalan tol tersebut. Pada 8 Mei 2007, JMU ikut serta dalam penyertaan saham PT Transmarga Jatim Pasuruan (TJP) untuk proyek jalan tol Gempol Pasuruan dengan kepemilikan sebesar 20%.
JMU is a joint venture company with Local Government of East Java. This company was established in order to continue construction of the Surabaya - Mojokerto toll road project that was suspended after the Minister of Settlement and Regional Infrastructure cancelled the concession granted to PT Marga Nujyasumo Agung (MNA) as stated in his Letter No.418/KPTS/M/2001 dated July 18, 2001. After the Supreme Court refused the application for Judicial Review of Minister of Settlement and Regional Infrastructure, dated March 31, 2005, the concession rights have been returned to MNA. As a result JMU is not involved in such toll road project. On May 8, 2007, JMU participated in investment in shares of PT Transmarga Jatim Pasuruan (TJP) to develop toll road project of Gempol Pasuruan, with ownership of 20%.
Berdasarkan Berita Acara RUPS PT JMU tanggal 6 Mei 2013, Pemegang Saham memutuskan penurunan Modal Dasar menjadi Rp 150.000.000.000 (sebelumnya Rp 171.400.000.000), dan Modal Disetor menjadi Rp 40.502.000.000 yang terdiri dari kepemilikan Pemerintah Provinsi Jawa Timur sebesar Rp 37.502.000.000 atau setara dengan 93%, dan Perusahaan sebesar Rp 3.000.000.000 atau setara dengan 7%. Penurunan tersebut akibat dari penghapusan piutang modal disetor ke Perusahaan sebesar Rp 9.858.000.000 (Rupiah penuh). Perusahaan mereklasifikasi nilai saldo penyertaan sebesar Rp 3.000.000.000 (Rupiah penuh) ke pos Aset Keuangan Lainnya pada 31 Desember 2013.
Based on Minutes of General Meeting of Shareholders of PT JMU dated May 6, 2013, JMU decreased its authorized capital to Rp 150,000,000,000 (full Rupiah), previously Rp 171,400,000,000 (full Rupiah), and paid in capital to Rp 40,502,000,000 consisting of East Java Provincial Government amounting to Rp 37,502,000,000 or equivalent to 93% ownership, and the Company amounting to Rp 3,000,000,000 or equivalent to 7% ownership. The decrease is a result of the write off of the paid in capital receivables to the Company amounting to Rp 9,858,000,000 (full Rupiah). Company reclassified balance of investment amounting to Rp 3,000,000,000 (full Rupiah) to Other Financial Assets per December 31, 2013.
j. PT Marga Mawatindo Esprit (MME) j. PT Marga Mawatindo Esprit (MME)
PT Marga Mawatindo Esprit didirikan berdasarkan Akta No. 96, tanggal 30 Mei 1997 dari Notaris Siti Pertiwi Henny Singgih, S.H.. Penyertaan pada MME dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Semarang–Demak. Perusahaan memiliki 1.154.364 saham dengan nilai nominal Rp 2.409 (Rupiah penuh) per saham atau setara dengan Rp 2.780.862.876 (Rupiah penuh) yang merupakan 8,33% kepemilikan.
PT Marga Mawatindo Esprit was established based on the Deed No. 96, dated May 30, 1997 of Notary Siti Pertiwi Henny Singgih, S.H.. The investment in MME relates to the construction and operation of the Semarang–Demak toll road. The Company owns 1,154,364 shares at par value of Rp 2,409 (full Rupiah) per share or equivalent to Rp 2,780,862,876 (full Rupiah), representing 8.33% ownership.
Berdasarkan Surat No. 001/SPK-DIR/2003, tanggal 6 Januari 2003, Perusahaan dan MME sepakat untuk mengakhiri Perjanjian Kuasa Penyelenggaraan No. 58, tanggal 25 Pebruari 1998. Pengakhiran PKP ini mengakibatkan penyertaan pada perusahaan ini tidak memiliki nilai ekonomis, sehingga Perusahaan mengakui adanya kerugian atas penurunan nilai penyertaan yang bersifat permanen sebagai beban tahun 2002 sebesar Rp 2.780.860.876 (Rupiah penuh).
Based on Letter No. 001/SPK-DIR/2003, dated January 6, 2003, the Company and MME agreed to terminate the Concession Rights Agreement No. 58, dated February 25, 1998. The result of such termination of Concession Rights Agreement caused the Company’s investment to have no economic value, the Company recognized the loss on the permanent impairment of the investment as an expense in year 2002 amounting to Rp 2,780,860,876 (full Rupiah).
k. PT Marga Net One Limited (MNOL) k. PT Marga Net One Limited (MNOL)
PT Marga Net One Limited didirikan berdasarkan 58 hukum Negara Bangladesh sebagaimana termuat dalam Incoporated Under The Company Act 1994 (ACT-XVIII of 1994) (Private Company Limited By Shares) dan
PT Marga Net One Limited was established based on the Law of Bangladesh as stated in The Company Act 1994 (ACT-XVIII of 1994) (Private Company Limited by Shares) and Memorandum of Association of Marga Net One
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 59 Paraf:
Memorandum of Association of Marga Net One Limited, tanggal 29 Pebruari 2003 juncto Certificate of Incoporation No. C-50732 (1027)/ 2003 tanggal 11 Oktober 2003 yang dikeluarkan Registrar of Joint Stock Companies Bangladesh.
Limited dated February 29, 2003, in conjunction with Certificate of Incorporation No. C-50732(1027)/ 2003 dated October 11, 2003, issued by the Bangladesh Registrar of Joint Stock Companies.
Berdasarkan Memorandum of Association of MNOL, tanggal 29 Pebruari 2003, Perusahaan memiliki 200 saham dengan nominal TK 100 (mata uang Taka penuh) per lembar saham atau 10% kepemilikan dan setoran modal sejumlah USD 1.800 (Dolar penuh) atau setara dengan Rp 15.290.775 (Rupiah penuh) yang dilakukan pada 2 September 2003.
Based on the Memorandum of Association of MNOL dated February 29, 2003, the Company owns 200 shares at par value of TK 100 (full Taka amount) per share or 10% ownership and paid in capital amounting to USD 1,800 (full Rupiah) or equivalent to Rp 15,290,775 (full Rupiah) was subscribed on September 2, 2003.
Perusahaan sepakat melakukan kerjasama pemberian jasa teknik dalam manajemen pengumpulan tol, manajemen lalu lintas dan manajemen pemeliharaan atas pengelolaan dan pengoperasian jembatan tol Jamuna di Bangladesh selama 5 tahun.
The Company agreed to render technical services by providing a management of toll collecting, traffic management, and management of maintenance for the operations of the Jamuna toll bridge in Bangladesh for 5 years.
Perusahaan menganggap penyertaan pada MNOL sudah tidak memiliki nilai ekonomis disebabkan tidak adanya kepastian pengembalian investasi atas penyertaannya dan mengakui kerugian atas penurunan nilai penyertaan sebagai beban tahun 2006 sebesar Rp 15.289.775 (Rupiah penuh).
The Company has identified that the investment in MNOL does not have any expected future economic benefit and the Company recognized the loss on impairment of the investment amounted to Rp 15,289,775 (full Rupiah) as an expense in 2006.
12. Aset Tetap 12. Property and Equipment
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Addition Disposals Reclassification Ending Balance
Harga Perolehan/ Acquisition Cost
Aset Tetap Pemilikan Langsung/
Direct Acquisition Assets
Hak atas Tanah/ Land Rights 3,329,787 4,364,422 -- -- 7,694,209
Gedung Kantor dan Bangunan Lain/
Office and Other Buildings 200,584,547 23,839,529 -- -- 224,424,076
Peralatan Operasional dan Kantor/
Operational and Office Equipment 671,499,525 133,099,441 122,650 138,565 804,614,881
Kendaraan Bermotor/
Vehicles 50,486,084 14,539,003 6,039,293 -- 58,985,794
Sub Jumlah/ Sub Total 925,899,942 175,842,395 6,161,943 138,565 1,095,718,959
Aset Sewa Pembiayaan/
Finance Lease Assets 163,282,860 -- -- -- 163,282,860
Sub Jumlah/ Sub Total 163,282,860 -- -- -- 163,282,860
Aset Tetap dalam Penyelesaian/
Construction in Progress 130,159,479 124,800,532 -- (56,835,206) 198,124,805
Sub Jumlah/ Sub Total 130,159,479 124,800,532 -- (56,835,206) 198,124,805
Jumlah Harga Perolehan/
Total Acquisition Cost 1,219,342,282 300,642,927 6,161,943 (56,696,641) 1,457,126,624
31 Desember/ December 2014
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 60 Paraf:
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Addition Disposals Reclassification Ending Balance
31 Desember/ December 2014
Akumulasi Penyusutan/
Accumulated Depreciation
Gedung Kantor dan Bangunan Lain/
Office and Other Buildings 74,644,068 8,817,295 -- -- 83,461,363
Peralatan Operasi dan Kantor/
Operational and Office Equipment 524,138,385 104,643,084 22,486 -- 628,758,983
Kendaraan Bermotor/
Vehicles 29,105,577 7,852,072 3,156,673 -- 33,800,976
Sub Jumlah/ Sub Total 627,888,030 121,312,451 3,179,159 -- 746,021,322
Aset Sewa Pembiayaan/
Finance Lease Assets 140,858 9,237,125 -- -- 9,377,983
Jumlah Akumulasi Penyusutan/
Total Accumulated of Depreciations 628,028,888 130,549,576 3,179,159 -- 755,399,305
Nilai Tercatat/ Carrying Amount 591,313,394 701,727,320
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Addition Disposals Reclassification Ending Balance
Harga Perolehan/ Acquisition Cost
Aset Tetap Pemilikan Langsung/
Direct Acquisition Assets
Hak atas Tanah/ Land Rights 3,515,187 -- 185,400 -- 3,329,787
Gedung Kantor dan Bangunan Lain/
Office and Other Buildings 145,866,546 55,107,277 389,276 -- 200,584,547
Peralatan Operasional dan Kantor/
Operational and Office Equipment 580,000,957 214,423,114 1,100,000 (121,824,546) 671,499,525
Kendaraan Bermotor/
Vehicles 37,043,819 16,151,695 2,709,430 -- 50,486,084
Sub Jumlah/ Sub Total 766,426,508 285,682,086 4,384,106 (121,824,546) 925,899,942
Aset Sewa Pembiayaan/
Finance Lease Assets 112,480,222 -- 32,339,887 83,142,525 163,282,860
Sub Jumlah/ Sub Total 112,480,222 -- 32,339,887 83,142,525 163,282,860
Aset Tetap dalam Penyelesaian/
Construction in Progress 76,339,726 95,615,352 25,383,694 (16,411,905) 130,159,479
Sub Jumlah/ Sub Total 76,339,726 95,615,352 25,383,694 (16,411,905) 130,159,479
Jumlah Harga Perolehan/
Total Acquisition Cost 955,246,457 381,297,438 62,107,687 (55,093,926) 1,219,342,282
31 Desember/ December 2013
Akumulasi Penyusutan/
Accumulated Depreciation
Gedung Kantor dan Bangunan Lain/
Office and Other Buildings 59,033,036 15,841,309 230,277 -- 74,644,068
Peralatan Operasi dan Kantor/
Operational and Office Equipment 417,086,406 107,495,905 32,568,593 32,124,667 524,138,385
Kendaraan Bermotor/
Vehicles 24,280,261 6,907,097 2,081,781 -- 29,105,577
Sub Jumlah/ Sub Total 500,399,703 130,244,311 34,880,651 32,124,667 627,888,030
Aset Sewa Pembiayaan/
Finance Lease Assets 32,339,887 23,797 -- (32,222,826) 140,858
Jumlah Akumulasi Penyusutan/
Total Accumulated of Depreciations 532,739,590 130,268,108 34,880,651 (98,159) 628,028,888
Nilai Tercatat/ Carrying Amount 422,506,867 591,313,394
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 61 Paraf:
Aset tetap gedung dan peralatan telah diasuransikan terhadap risiko gempa bumi, kebakaran, pencurian dan risiko lainnya, kepada PT Asuransi Jasa Indonesia (Persero) sebesar Rp 116.903.838.436 (Rupiah penuh), PT Jasa Raharja Putra (Persero) sebesar Rp 75.432.700.000 (Rupiah penuh), PT Jasindo Takaful sebesar Rp 44.554.000.000 (Rupiah penuh), PT Maskapai Asuransi Raya sebesar Rp 148.597.714 (Rupiah penuh), PT Asuransi Staco Mandiri Medan sebesar Rp 55.656.391.802 (Rupiah penuh), PT Asuransi Mega Pratama sebesar Rp 21.864.336.201 (Rupiah penuh) dan PT Asuransi Umum Bumi Putra Muda sebesar Rp 26.094.768.041 per 31 Desember 2014.
Building and equipments have been insured against earthquake, fire, theft and other risks associated with the property and equipment to PT Asuransi Jasa Indonesia (Persero) amounting to Rp 116,903,838,436 (Full amount), PT Jasa Raharja Putra (Persero) amounting to Rp 75,432,700,000 (Full amount), PT Jasindo Takaful amounting to Rp 44,554,000,000 (Full amount), PT Maskapai Asuransi Raya amounting to Rp 148,597,714 (Full amount), PT Asuransi Staco Mandiri Medan amounting to Rp 55,656,391,802 (Full amount), PT Asuransi Mega Pratama amounting to Rp 21,864,336,201 (Full amount) dan PT Asuransi Umum Bumi Putra Muda amounting to Rp 26,094,768,041 as of December 31, 2014.
Manajemen berpendapat bahwa nilai pertanggungan tersebut cukup untuk menutupi kemungkinan kerugian atas aset yang dipertanggungkan.
Management believes that the insured amounts are adequate to cover possible losses that might arise from the assets insured.
Rincian tingkat penyelesaian atas penambahan aset tetap dalam konstruksi per 31 Desember 2014 dan 31 Desember 2013 adalah sebagai berikut:
The detail additional of property and equipment under construction in progress as of December 31, 2014 and December 31, 2013 are as follows:
Persentase Persentase
Penyelesaian/ Penyelesaian/
Percentage of Percentage of
Rp Completion Rp Completion
Gedung Kantor/ Office Buildings 32,756,687 50% 78,146,082 50%
Sarana Pelengkap/ Facility 92,043,845 81% 17,586,661 98%
Jumlah/ Total 124,800,532 95,732,743
2014 2013
13. Aset Takberwujud 13. Intangible Assets
a. Hak Pengusahaan Jalan Tol/ Toll Road Concession Rights
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Additions Disposals Reclassification Ending Balance
Rp Rp Rp Rp Rp
Harga Perolehan/
Acquisition Cost 25,541,535,264 2,662,890,294 -- -- 28,204,425,558
Akumulasi Amortisasi/
Accumulated Amortization 3,579,414,118 689,596,650 -- -- 4,269,010,768
Nilai Tercatat/ Carrying Amount 21,962,121,146 23,935,414,790
31 Desember/ December 2014
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Additions Disposals Reclassification Ending Balance
Rp Rp Rp Rp Rp
Harga Perolehan/
Acquisition Cost 21,851,814,513 4,327,116,380 639,208,738 1,813,109 25,541,535,264
Akumulasi Amortisasi/
Accumulated Amortization 3,304,108,915 914,415,782 639,208,738 98,159 3,579,414,118
Nilai Tercatat/ Carrying Amount 18,547,705,598 21,962,121,146
31 Desember/ December 2013
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 62 Paraf:
b. Aset Takberwujud Lainnya/ Others Intangible Assets
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Additions Disposals Reclassification Ending Balance
Rp Rp Rp Rp RpHarga Perolehan/ Acquisition
Cost
Tanah Pra-Konstruksi/
Pre-Construction Land 630,024,173 1,525,169,770 -- -- 2,155,193,943
Perangkat Lunak/
Software 32,936,993 27,269,773 -- -- 60,206,766
Jumlah Harga Perolehan/
Total Acquisition Cost 662,961,166 1,552,439,543 -- -- 2,215,400,709
Akumulasi Amortisasi/
Accumulated Amortization
Perangkat Lunak/
Software 21,842,628 10,389,887 -- -- 32,232,515
Nilai Tercatat/ Carrying Amount 641,118,538 2,183,168,194
31 Desember/ December 2014
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/
Beginning Balance Additions Disposals Reclassification Ending Balance
Rp Rp Rp Rp RpHarga Perolehan/ Acquisition
Cost
Tanah Pra-Konstruksi/
Pre-Construction Land 338,807,033 439,129,096 147,911,956 -- 630,024,173
Perangkat Lunak/
Software 37,500 32,899,493 -- -- 32,936,993
Jumlah Harga Perolehan/
Total Acquisition Cost 338,844,533 472,028,589 147,911,956 -- 662,961,166
Akumulasi Amortisasi/
Accumulated Amortization
Perangkat Lunak/
Software 23,250 21,819,378 -- -- 21,842,628
Nilai Tercatat/ Carrying Amount 338,821,283 641,118,538
31 Desember/ December 2013
Alokasi beban penyusutan aset tetap (Catatan 12) dan amortisasi hak pengusahaan jalan tol sebagai berikut:
Allocation of depreciation expense of fixed assets (Note 12) and amortization Toll Road Concession Rights expenses as follows:
2014 2013
Rp Rp
Beban Pemeliharaan Jalan Tol 644,185,877 892,453,544 Toll Road Maintenance Expenses
Beban Umum dan Administrasi 35,474,113 32,607,362 General and Administrative Expenses
Beban Pelayanan Pemakai Jalan Tol 57,831,741 55,804,423 Toll Road Service Expenses
Beban Pengumpulan Tol 93,044,380 85,637,939 Toll Collection Expenses
Jumlah 830,536,111 1,066,503,268 Total
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 63 Paraf:
14. Goodwill 14. Goodwill
2014 2013
Rp Rp
Nilai Tercatat/ Carrying Amount
Akuisisi/ Acquisition of PT Marga Nujyasumo Agung 36,879,508 36,879,508
Akuisisi/ Acquisition of PT Marga Kunciran Cengkareng 2,120,709 2,120,709
Akuisisi/ Acquisition of PT Jasa Layanan Pemeliharaan 2,848,350 2,848,350
Jumlah/ Total 41,848,567 41,848,567
Berdasarkan Akta Perubahan Anggaran Dasar No.23, tanggal 10 Januari 2007, dari Notaris Buntario Tigris, SH dan telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia dengan Surat Keputusan No.W7-00655.HT.01.04.Th.2007 tanggal 18 Januari 2007, pemegang saham PT Marga Nujyasumo Agung (MNA) menyetujui peningkatan modal dasar serta modal ditempatkan dan modal disetor masing-masing menjadi Rp 600.000.000.000 (Rupiah penuh) dan Rp 350.000.000.000 (Rupiah penuh) melalui penerbitan saham baru.
Based on the Deed of Changes of Articles of Association No. 23 dated January 10, 2007 of Notary Buntario Tigris, SH and as approved by the Minister of Law and Human Rights through Decree No.W7-00655.HT.01.04.Th.2007 dated January 18, 2007, the shareholders of PT Marga Nujyasumo Agung (MNA) agreed to increase its authorized capital and the issued and paid in capital to become Rp 600,000,000,000 (full Rupiah) and Rp 350,000,000,000 (full Rupiah), respectively, through a rights issue.
Berdasarkan kesepakatan bersama No. 46 tanggal 18 Pebruari 2009 dari Notaris Johny Dwikora Aron, SH atas peningkatan modal dasar tersebut, Perusahaan mengambil bagian sebesar Rp 330.000.000.000 (Rupiah penuh) atau setara dengan 55% penyertaan. Dengan demikian, klasifikasi investasi Perusahaan pada MNA berubah dari investasi jangka panjang menjadi investasi yang disertai kepentingan pengendali dan MNA dikonsolidasi sebagai entitas anak. Peningkatan di MNA ini dilakukan dengan akuisisi saham dari beberapa pemegang saham di MNA yaitu PT Moeladi, PT Kaliurang Daya Cipta, PT Dressa Cipta, PT Induco Matra dan pembelian saham portepel MNA.
Based on the Deed No.46 dated February 18, 2009 of Notary Johny Dwikora Aron, SH regarding the increasing of authorized capital, the Company participated in capital amounting to Rp 330,000,000,000 (full Rupiah) or representing 55% ownership. Therefore, the Company’s investment in MNA changed from long term investment to controlling interest and MNA is consolidated as subsidiaries. The capital increase in MNA was getting done by doing acquisition from the shareholders of MNA consisted of PT Moeladi, PT Kaliurang Daya Cipta, PT Dressa Cipta, PT Induco Matra and purchase of MNA’s treasury shares.
Pada tahun 2009 perusahaan telah mencatat goodwill Rp 36.879.508.000 (Rupiah penuh) berdasarkan estimasi yang dilakukan Perusahaan dan nilai yang tercatat pada tahun 2010 sebesar Rp 70.693.667.450 (Rupiah penuh) telah disesuaikan dengan hasil penilaian dari apraisal independen.
In 2009, the company has recorded goodwill which was estimated by the Company amounting to Rp 36,879,508,000 (full Rupiah) and the carrying value in 2010 amounted to Rp 70.693.667.450 (full Rupiah) has been adjusted for appraisal value from the independent appraisal.
Pada tahun 2010 Perusahaan melakukan akuisisi terhadap PT Marga Kunciran Cengkareng (MKC) yang bergerak dalam bidang jalan tol dengan jumlah penyertaan saham sebesar 75% kepemilikan. Perusahaan telah mencatat goodwill yang timbul dari akuisisi ini.
In 2010, the Company acquired PT Marga Kunciran Cengkareng (MKC), a company engaged in toll road with value of investment of shares representing 75% ownership. The Company has recorded goodwill arose from this acquisition.
Pada tahun 2010, Perusahaan juga telah melakukan akuisisi pada PT Sarana Margabhakti Utama (SMBU) yang bergerak di bidang jasa konstruksi, perdagangan dan persewaan kendaraan. Jumlah akuisisi adalah sebesar 99% kepemilikan saham. Perusahaan telah mencatat goodwill yang timbul dari akuisisi ini.
In 2010, the Company also acquired PT Sarana Margabhakti Utama (SMBU) which is engaged in construction, trading and rental vehicles. Total acquisition value amounted to 99% ownership. The Company has recorded goodwill arose from this acquisition.
Berdasarkan Akta Notaris No. 108 tanggal 10 Pebruari 2011 dari Notaris H. Feby Rubein Hidayat, SH., Notaris di Jakarta terdapat perubahan nama PT Sarana Margabhakti Utama
Based on Notarial Deed No. 108 dated February 10, 2011 from Notary H. Feby Rubein Hidayat, SH., a Notary in Jakarta, there was a change of name from PT Sarana
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 64 Paraf:
(SMBU) menjadi PT Sarana Marga Utama (SMU), sekarang telah berganti nama menjadi PT Jasa Layanan Pemeliharaan (JLP).
Margabhakti Utama (SMBU) become PT Sarana Marga Utama (SMU), now changed to PT Jasa Layanan Pemeliharaan (JLP).
15. Aset Lain-lain 15. Other Assets
2014 2013
Rp Rp
Uang Muka Kontraktor 71,479,161 51,485,131 Advance for Contractors
Jaminan 28,701,943 54,877,581 Guarantees
Aset Diambil Alih 34,203,915 34,203,915 Foreclosed Assets
Jalan Tol Ruas Surabaya – Gempol Surabaya – Gempol Toll Road
Seksi Porong – Gempol 12,027,508 12,027,508 Porong-Gempol Section
Lainnya 1,450,423 4,673,374 Others
Total Aset Lain-lain 147,862,950 157,267,509 Total Other Assets
Penyisihan Penurunan Nilai Aset (26,302,053) (26,302,053) Allowance for Impairment Losses
Jumlah – Bersih 121,560,897 130,965,456 Total – Net
a. Uang Muka Kontraktor a. Advances for Contractors Merupakan uang muka kontraktor dan konsultan dalam rangka pembangunan jalan tol, pelapisan ulang, pengadaan peralatan jalan tol dan pengadaan jalan lain yang akan diperhitungkan dengan tagihan atas kemajuan pekerjaan kontraktor dan konsultan.
Represents down payments to contractors and consultants for toll road construction, overlay, toll road equipment procurement and other road procurements and are calculated from the invoice of working progress from the contractors and consultants.
b. Jaminan b. Guarantee Merupakan garansi bank yang ditempatkan Perusahaan selaku pemegang hak pengusahaan jalan tol sebagai jaminan pelaksanaan dan penyelesaian konstruksi jalan tol.
Represent bank guarantee which placed by the Company as the winner of concession right of toll road, as a guarantee of execution and completion of the toll road construction.
c. Aset Diambil Alih c. Foreclosed Assets
2014 2013
Rp Rp
Ruas Tol Semarang-Demak (MME) 20,129,778 20,129,778 Toll Road Semarang-Demak (MME)
Ruas Tol Cileunyi-Nagrek (PT Wijaya Karya) 12,000,000 12,000,000 Toll Road Cileunyi-Nagrek (PT Wijaya Karya)
Ruas Tol Pandaan-Pasuruan (PT Giri Adya Sejati) 2,074,137 2,074,137 Toll Road Pandaan-Pasuruan (PT Giri Adya Sejati)
Sub Jumlah 34,203,915 34,203,915 Sub Total
Penyisihan Penurunan Nilai Aset: Allowance for Impairment Losses:
Ruas Tol Semarang-Demak (MME) 12,227,916 12,227,916 Ruas Tol Semarang-Demak (MME)
Ruas Tol Cileunyi-Nagrek (PT Wijaya Karya) 12,000,000 12,000,000 Ruas Tol Cileunyi-Nagrek (PT Wijaya Karya)
Ruas Tol Pandaan-Pasuruan (PT Giri Adya Sejati) 2,074,137 2,074,137 Ruas Tol Pandaan-Pasuruan (PT Giri Adya Sejati)
Sub Jumlah 26,302,053 26,302,053 Sub Total
d. Jalan Tol Ruas Surabaya – Gempol Seksi Porong – Gempol
d. Surabaya – Gempol Toll Road Porong – Gempol Section
Jalan tol Seksi Porong - Gempol merupakan bagian dari jalan tol Surabaya - Gempol yang mengalami dampak dari musibah genangan lumpur PT Lapindo Brantas sehingga mengakibatkan tidak berfungsinya jalan tol tersebut (lihat catatan 45.b).
Section Porong – Gempol toll road which is part of Surabaya – Gempol toll road has been affected by mud disaster of PT Lapindo Brantas which resulted in malfunction of the toll road (see note 45.b).
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 65 Paraf:
Sehubungan dengan dilakukannya penutupan sebagian jalan tol Surabaya - Gempol Seksi Porong - Gempol pada 11 Juli 2006, dan ditindaklanjuti dengan Surat Menteri Pekerjaan Umum No. 297/KPTS/M/2006 tanggal 11 Agustus 2006 tentang Pencabutan Sementara Status Sebagai Jalan Tol Sebagian Ruas Jalan Tol Surabaya - Gempol Seksi Porong – Gempol, Perusahaan mencatat aset jalan tol seksi Porong – Gempol kedalam Aset Lain-Lain sebesar Rp 12.027.508.035 (Rupiah penuh).
In line with the partial closure of Section Porong-Gempol of Surabaya-Gempol toll road on July 11, 2006, which followed up by letter from the Minister of Public Works No. 297/KPTS/M/2006 dated August 11, 2006 regarding the Temporary Revocation of Status of Some Part of Section Porong - Gempol of Surabaya – Gempol Toll Road, the Company recognised the Section Porong – Gempol toll road into Other Assets amounting to Rp 12,027,508,035 (full Rupiah).
16. Utang Usaha 16. Accounts Payable
Merupakan utang kepada pemasok untuk pengadaan barang cetakan, alat tulis kantor, karcis tol, obat-obatan dan pakaian dinas serta utang usaha atas jasa pemeliharaan dan pembersihan jalan tol.
Represent payables to suppliers associated with the procurement of printing goods, office stationery, toll tickets, medicine, uniform, toll road maintenance and cleaning services.
2014 2013
Rp Rp
Pihak Berelasi (Catatan 43) 5,389,001 7,990,621 Related Parties (Note 43)
Pihak Ketiga 186,286,485 92,040,815 Third Parties
Jumlah 191,675,486 100,031,436 Total
17. Utang Kontraktor 17. Contractors Payable
Merupakan utang kepada kontraktor, konsultan dan rekanan sehubungan dengan pembangunan jalan, pelapisan ulang, pengadaan fasilitas tol dan bangunan lain.
Represents payables to contractors, consultants and partners associated with the construction of roads, overlay and procurement of toll facilities and other buildings.
2014 2013
Rp Rp
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 754,755,358 1,018,819,471
Pihak Ketiga/ Third Parties
PT Jaya Konstruksi Manggala Pratama Tbk 63,357,311 10,481,810
PT Module Intracs Yasatama 15,977,545 7,003,216
PT Aremix 3M 15,620,181 17,805,793
PT Manikam Mega Persada 12,319,502 13,855,080
PT Perkasa Adiguna Sembada 11,686,209 7,020,997
PT Kadi International 10,674,204 4,073,554
PT Pancatunggal Karsasejati 10,501,215 1,244,947
PT Delameta Bilano 8,259,490 10,474,087
PT Roadmixindo Raya 7,864,232 2,259,859
PT Marga Maju Mapan 6,344,717 --
PT Aremix Planindo 5,781,001 --
PT Marga Bumikhatulistiwa 5,644,521 1,529,261
PT Sumber Batu 5,009,113 2,463,756
PT Annisa Bintang Blitar 2,945,982 7,376
PT Multi Phi Beta 2,531,096 1,601,781
PT Henny Eka Pratama 2,496,442 --
PT Rajawali Gema Permai Indonesia 2,364,171 --
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 66 Paraf:
2014 2013
Rp Rp
PT Barito Permai 2,226,817 --
PT Sarana Marga Perkasa 2,122,952 --
PT Bauer Pratama Indonesia 2,035,865 2,554,174
PT Widya Sapta Colas 2,030,319 6,074,078
Lain-lain (masing-masing di bawah Rp 2 Milyar)/ Others (each below Rp 2 Billion) 37,940,591 46,179,041
Sub Jumlah/ Sub Total 235,733,476 134,628,810
Jumlah/ Total 990,488,834 1,153,448,281
18. Utang Lain-lain 18. Other Payables
2014 2013
Rp Rp
Pihak Ketiga/ Third Parties
PT PPA Finance 10,134,109 12,262,599
Area Pramuka Cibubur & TMII 2,388,715 2,388,715
PT Astra Credit Company -- 2,799,979
Lainnya/ Others 61,138,307 38,958,118
Jumlah/ Total 73,661,131 56,409,411
Utang lain-lain Area Pramuka Cibubur dan Taman Mini Indonesia Indah merupakan sumbangan Perusahaan kepada Kwartir Nasional Gerakan Pramuka dan Taman Mini Indonesia lndah yang didasarkan pada Keputusan Presiden No.14 Tahun 1981 tentang penggunaan sebagian dari pendapatan tol pada pintu gerbang menuju/dari Taman Mini Indonesia lndah dan Arena Pramuka Cibubur. Namun, sejak tanggal 26 Januari 2008, Pemerintah mengeluarkan Peraturan Presiden No.3 Tahun 2008 mengenai pencabutan Keputusan Presiden No.14 Tahun 1981.
Other payables Pramuka Cibubur Area and Taman Mini Indonesia lndah (TMII) represents the Company's contribution to Kwartir Nasional Gerakan Pramuka Cibubur and TMII that is based on Presidential Decree No.14 year 1981 regarding the use of a portion of toll revenue at the gateway to/from Taman Mini Indonesia Indah and Cibubur Scout Area Toll gates. However, since the date of January 26, 2008, the Government issued Presidential Regulation No.3 year 2008 for the revocation of the Presidential Decree No.14 year 1981.
19. Beban Akrual 19. Accrued Expenses
2014 2013
Rp Rp
Beban Bunga Interest Expenses
Obligasi 82,971,826 77,530,340 Bonds
Utang Bank Bank Loans
PT Bank Central Asia Tbk 8,594,667 7,971,200 PT Bank Central Asia Tbk
Pihak Berelasi (Catatan 43) -- 2,979,167 Related Party (Note 43)
Utang Bank Sindikasi 15,330,996 15,971,358 Syndicated Bank Loan
Beban Umum dan Administrasi 185,373,757 155,431,430 General and Administrative Expenses
Beban Gaji dan Tunjangan 95,822,682 118,064,239 Salaries and Allowances Expenses
Beban Kerjasama Operasi 792,321 66,890,996 Joint Operation Expenses
Lain-lain 27,378,166 19,839,883 Others
Jumlah 416,264,415 464,678,613 Total
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 67 Paraf:
20. Utang Bank 20. Bank Loans
Utang Bank Jangka Pendek/ Short-term Bank Loan:
2014 2013
Rp RpPihak Ketiga/ Third Parties
PT Bank Central Asia Tbk 586,690,195 636,007,177
PT Bank DBS Indonesia 23,809,583 19,833,171
Jumlah/ Total 610,499,778 655,840,348
Bagian Jangka Pendek/ Current Portion:
2014 2013
Rp Rp
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 41,599,279 292,972,283
Pihak Ketiga/ Third Parties
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 1,216,831 2,244,880
PT Bank Pembangunan Daerah Bali 345,098 --
Jumlah/ Total 43,161,208 295,217,163
Bagian Jangka Panjang/ Long Term Portion:
2014 2013
Rp Rp
Pihak Berelasi (Catatan 43)/ Related Parties (Note 43) 5,529,802,171 4,632,708,859
Pihak Ketiga/ Third Parties
PT Bank DKI 209,234,856 130,226,657
PT Bank Pembangunan Daerah Jawa Timur Tbk 197,095,855 119,398,896
PT Bank Central Asia Tbk 137,348,875 119,704,044
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 129,544,531 88,924,692
PT Bank Pembangunan Daerah Sumatera Utara 107,380,191 75,988,929
PT Bank Pembangunan Daerah Bali 68,674,437 59,852,022
PT Bank Bukopin Tbk 67,036,686 51,835,794
PT Bank Pembangunan Daerah Jawa Tengah 38,722,688 41,558,060
Sub Jumlah/ Sub Total 955,038,119 687,489,094
Jumlah/ Total 6,484,840,290 5,320,197,953
Persyaratan rasio keuangan Perusahaan berdasarkan perjanjian kredit masing-masing bank adalah Rasio Utang terhadap Ekuitas (DER) maksimal 5:1 dan Interest Coverage Ratio (ICR) minimal 1,25:1.
The Company's financial ratio requirement based on each bank's credit agreement is a Debt to Equity Ratio (DER) maximum of 5:1 and Interest Coverage Ratio (ICR) minimum of 1.25:1.
Pinjaman pada PT Bank Central Asia Tbk Loan from PT Bank Central Asia Tbk Berdasarkan Akta Perjanjian Kredit Investasi No. 37, tanggal 25 Oktober 2005 dibuat dihadapan Notaris Ir. Nanette Cahyanie Handari Adi Warsito, S.H., Perseroan mendapatkan fasilitas kredit investasi dengan tujuan untuk pembiayaan proyek jalan tol JORR II (Seksi E1, E3) sebesar Rp 350.000.000.000 (Rupiah penuh). Akta ini diubah dengan Akta Addendum Perjanjian Kredit Investasi No. 53, tanggal 28 April 2006 untuk fasilitas kredit investasi sebesar Rp 310.000.000.000 (Rupiah penuh) dan Akta Perjanjian Kredit No. 54, tanggal 28 April 2006 sebagaimana kemudian diubah dalam Akta Addendum Perjanjian Kredit Modal Kerja
Based on the Deed of Credit Agreement No. 37, dated October 25, 2005 of Notary Ir. Nanette Cahyanie Handari Adi Warsito, S.H., the Company has obtained loan facilities amounting to Rp 350,000,000,000 (full Rupiah) for the purpose of financing JORR II toll road project (E1, E3 Section). The Deed has been changed with the Deed of Credit Agreement No. 53, dated April 28, 2006 for the loan facilities amounting to Rp 310,000,000,000 (full Rupiah) and based on the Deed of Credit Agreement No. 54 dated April 28, 2006 as changed in Deed of Amendment to Working Capital Credit Agreement No. 6, dated August 10, 2006,
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 68 Paraf:
No. 6, tanggal 10 Agustus 2006 dari Notaris Ir. Nanette Cahyanie Handari Adi Warsito, S.H., Akta Addendum Perjanjian Kredit No. 47 tanggal 29 Maret 2007 dan Akta Addendum Perjanjian Kredit No. 06 tanggal 6 Juni 2007 dari Notaris Poerbaningsih Adi Warsito, S.H., Perusahaan memperoleh fasilitas time loan revolving sebesar Rp 40.000.000.000 (Rupiah penuh) untuk jangka waktu 1 tahun dan mendapat tambahan jumlah pokok fasilitas kredit sebesar Rp 596.000.000.000 (Rupiah penuh) sehingga jumlah fasilitas yang diterima Perusahaan menjadi Rp 636.000.000.000 (Rupiah penuh), tingkat suku bunga pinjaman sama dengan suku bunga deposito rupiah untuk jangka waktu 3 (tiga) bulan yang berlaku di BCA untuk nilai nominal deposito lebih besar atau sama dengan Rp 25.000.000.000 (Rupiah penuh) yang dipublikasikan secara umum ditambah 3,9% per tahun. Berdasarkan Akta Addendum No. 11 tanggal 12 Agustus 2014, jangka waktu kredit diperpanjang dari 13 Agustus 2014 menjadi jatuh tempo pada 13 Agustus 2015. Perusahaan tidak memberikan jaminan terhadap pinjaman ini. Utang bank diberikan secara Negative Pledge, sehingga debitur tidak menyerahkan jaminan/ agunan yang sifatnya preferen dan/atau separatis baik kepada bank maupun kepada kreditur lainnya. Jumlah pinjaman bank pada 31 Desember 2014 sebesar Rp 586.690.195.000 (Rupiah penuh).
Deed of Addendum to Credit Agreement No. 47 dated March 29, 2007 and Deed of Amendment to Credit Agreement No. 06 dated June 6, 2007 of Notary Ir. Nanette Cahyanie Handari Adi Warsito, S.H., the Company has obtained time loan revolving facility amounting to Rp 40,000,000,000 (full Rupiah) for a period of 1 year and an additional credit facility amounting to Rp 596,000,000,000 (full Rupiah). Total facilities obtained by the Company were amounting to Rp 636,000,000,000 (full Rupiah), the loan interest rate equal to the rate of rupiah deposits for a period of 3 (three) months in the BCA applies to the nominal value of deposits greater than or equal to Rp 25,000,000,000 (full Rupiah), published in general plus 3.9% per annum. Based on the Deed of Amendment No. 11 dated August 12, 2014, the maturity of the loan has been extended from August 13, 2014 to August 13, 2015. The Company does not provide a guarantee against the loan. The bank loan is given by Negative Pledge, so that the debtor does not submit guarantee/collateral that are preferred and/or separated either to the bank or other creditors. The Total outstanding loan as of December 31, 2014 amounting to Rp 586,690,195,000 (full Rupiah).
Pinjaman pada PT Bank Mandiri (Persero) Tbk Loan from PT Bank Mandiri (Persero) Tbk Berdasarkan Akta Perjanjian Kredit No. 22, tanggal 09 Agustus 2010, yang telah mengalami perubahan dengan Akta Addendum No.75 tanggal 23 Juli 2014 dari Notaris Ir. Nanette Cahyani Handari Adi Warsito, S.H., Perusahaan memperoleh fasilitas pinjaman sebesar Rp 1.000.000.000.000 (Rupiah penuh) untuk jangka waktu 1 tahun. Tingkat bunga pinjaman mengacu pada suku bunga deposito 3 (tiga) bulan Bank ditambah 4,00% (empat persen). Batas waktu jatuh tempo fasilitas kredit modal kerja tersebut diperpanjang menjadi 08 Agustus 2015 Perusahaan wajib membayar provisi kepada PT Bank Mandiri (Persero) Tbk sebesar 0,25% per tahun dihitung secara proporsional. Perusahaan tidak memberikan jaminan terhadap pinjaman ini. Utang bank diberikan secara Negative Pledge, sehingga debitur tidak menyerahkan jaminan/ agunan yang sifatnya preferen dan/atau separatis baik kepada bank maupun kepada kreditur lainnya. Sampai dengan laporan keuangan dibuat, per tanggal 31 Desember 2014, Perusahaan telah melunasi fasilitas kredit sebesar Rp 250.000.000.000 (Rupiah penuh), sehingga perusahaan tidak memiliki saldo fasilitas pinjaman tersebut.
Based on the Deed of Credit Agreement No. 22, dated August 09, 2010 which lastly amended by the Deed of Amendment to Credit Agreement No.75, dated July 23, 2014 of Notary Ir. Nanette Cahyani Handari Adi Warsito, S.H., the Company has obtained loan facilities amounting to Rp 1,000,000,000,000 (full Rupiah) for a period of 1 year. The loan interest rate refers to the deposit rate 3 (three) months Bank plus 4.00% (four percent). The maturity of this working capital credit facility has been extended to August 08, 2015. The company obliged to pay the provision fee to PT Bank Mandiri (Persero) Tbk at 0.25% per annum calculated proportionally. The Company does not provide a guarantee against the loan. The bank loan is given by Negative Pledge, so that the debtor does not submit guarantee/collateral that are preferred and/or separated either to the bank or other creditors. Until the date of the financial statements, as of December 31, 2014, the Company has paid the loan facility amounting to Rp 250,000,000,000 (full Rupiah), thus the Company has no outstanding loans payable.
Pinjaman pada PT Bank DBS Indonesia Loan from PT Bank DBS Indonesia PT Jasa Layanan Pemeliharaan (Entitas Anak) mengadakan perjanjian gadai No. 29/PG-DBSI/II/2013 antara JLP dengan PT Bank DBS Indonesia yang dituangkan dalam akta notaris Sulistyanigsih, S.H., No. 88 tanggal 22 Pebruari 2013, JLP memperoleh fasilitas perbankan dari Bank dalam bentuk Uncommitted Revolving Credit Facility dengan jumlah fasilitas tersedia maksimum sebesar Rp 30.000.000.000 (Rupiah penuh), Uncommitted Omnibus Facility dengan jumlah fasilitas tersedia maksimum sebesar Rp 10.000.000.000
PT Jasa Layanan Pemeliharaan (the Subsidiary) held the agreement of Pledge No. 29/PG-DBSI/II/2013 between the JLP and PT Bank DBS Indonesia noted in the notary deed Sulistyanigsih, S.H., no. 88 dated February 22, 2013, JLP acquired the banking facilities from banks in the form of Uncommitted Revolving Credit Facility with a maximum amount of available facilities amounting to Rp 30,000,000,000 (full Rupiah), Uncommitted Omnibus Facility with maximum amount of facilities available at
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 69 Paraf:
(Rupiah penuh) dan Uncommitted Bank Guarantee Facility dengan jumlah fasilitas tersedia maksimum sebesar Rp 10.000.000.000 (Rupiah penuh) Semua fasilitas kredit berakhir pada tanggal 22 Pebruari 2015 atas masa kredit 1 tahun, dengan pembebanan tingkat suku bunga sebesar 10,25–10,75% pertahun berbasis mengambang.
Rp 10,000,000,000 (full Rupiah) and Uncommitted Bank Guarantee Facility with maximum amount of facilities available at Rp 10,000,000,000 (full Rupiah). All of credit facility expired on the 22nd of February 2015 1 year credit period is over, with the imposition of interest rate of 10.25-10.75% per year based floating.
Pinjaman Sindikasi dengan PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk dan PT Bank Bukopin Tbk
Syndicates Loan from PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk and PT Bank Bukopin Tbk
a. PT Marga Sarana Jabar (MSJ) a. PT Marga Sarana Jabar (MSJ) Pada tanggal 18 Nopember 2009, MSJ mengadakan
perjanjian kredit sindikasi antara MSJ dengan PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk dan PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk berdasarkan Akta Perjanjian Kredit Sindikasi No. 64, tanggal 18 Nopember 2009 oleh Notaris Fatimah, S.H., Fasilitas kredit yang diberikan adalah maksimum sebesar Rp 1.053.447.000.000 (Rupiah penuh) dan jatuh tempo pada tanggal 6 Maret 2022. Pinjaman ini dikenakan suku bunga sebesar average time deposit ditambah margin 6 % per tahun. Saldo Per 31 Desember 2014 adalah Rp 526.839.554.003 (Rupiah penuh), dengan jaminan atas pendapatan jalan tol sesuai akta perjanjian No. 43 tanggal 16 Desember 2009 oleh Notaris Fatimah, S.H.
On November 18, 2009, MSJ obtained syndicate credit agreement between MSJ with PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk and PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk based on the Deed of Syndicate Credit Agreement No. 64 dated November 18, 2009 of Notary Fatimah, S.H., Credit facility is granted with maximum limit amounting to Rp 1,053,447,000,000 (full Rupiah) and will mature on March 6, 2022, The loan bears interest at the average time deposits plus a margin of 6% per annum. As of December 31, 2014, the outstanding loan amounting to Rp 526,839,554,003 (full Rupiah), provided with collateral in form of toll road revenue as stipulated in the Deed No. 43 dated December 16, 2009 of Notary Fatimah, S.H.
b. PT Marga Nujyasumo Agung (MNA) b. PT Marga Nujyasumo Agung (MNA) Pada tanggal 24 Januari 2007, MNA telah mengadakan
perjanjian kredit sindikasi dengan PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk dan PT Bank Bukopin Tbk, dan telah dikuatkan dengan akta Perjanjian Kredit Sindikasi No. 33, tanggal 24 Januari 2007 oleh Fatimah, S.H., Notaris di Jakarta. Fasilitas kredit yang diterima MNA adalah maksimum sebesar Rp 1.526.000.000.000 (Rupiah penuh) yang terdiri dari Fasilitas Kredit Investasi sebesar Rp 1.374.576.000.000 (Rupiah penuh) dan Fasilitas Bunga Masa Konstruksi (Interest During Construction) sebesar Rp 151.424.000.000 (Rupiah penuh), dengan jangka waktu 44 Triwulan atau 11 tahun termasuk masa tenggang 2 tahun 6 bulan terhitung sejak ditandatanganinya akta dan berakhir pada tanggal 24 Januari 2018. Atas pinjaman ini perusahaan dikenakan suku bunga secara Weighted Average atas dasar suku bunga yang disampaikan oleh masing-masing kreditur kepada agen fasilitas yaitu PT Bank Negara Indonesia Tbk Untuk pertama kalinya bunga dibebankan sebesar 16% pertahun. Jaminan pinjaman antara lain Tagihan atas pendapatan tol dan pendapatan usaha lain yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 3.356.656.000.000 (Rupiah penuh). Saldo 31 Desember 2014 sebesar Rp 1.001.147.808.852 (Rupiah penuh).
On January 24, 2007, MNA entered into syndicated credit agreement with PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk dan PT Bank Bukopin Tbk as put forth into Deed of Syndicated Credit Agreement No.33 dated January 24, 2007 of Fatimah, S.H., Notary in Jakarta. The credit facility granted by MNA with the maximum limit of Rp 1,526,000,000,000 (full Rupiah) comprises of Investment Credit Facility amounting to Rp 1,374,576,000,000 (full Rupiah) and Interest During Construction Facility amounting to Rp 151,424,000,000 (full Rupiah), with term of credit for 44 quarter or 11 years including grace period of 2 years and 6 months since the signing of loan agreement deed and will mature on January 24, 2018. The interest were charged on weighted average rate on the basis of the rate of each bank which were provided to the PT Bank Negara Indonesia Tbk as the agent of the syndicated banks. For the first time interest loan changed was 16% per annum. The loan is proved with collaterals consisting of toll road revenue and other operating revenues which are binded fiducially with the amount of guarantee of Rp 3,356,656,000,000 (full Rupiah). The outstanding loan as of December 31, 2014 amounting to Rp 1,001,147,808,852 (full Rupiah).
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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c. PT Trans Marga Jateng (TMJ) c. PT Trans Marga Jateng (TMJ) Berdasarkan Perjanjian Kredit No. 21 tanggal
11 Desember 2009, TMJ mengadakan perjanjian kredit sindikasi dengan PT Bank Negara Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Pembangunan Daerah Jawa Tengah untuk pembiayaan Proyek Jalan Tol Semarang - Solo seksi 1 sebesar maksimum kredit Rp 4.697.960.000.000 (Rupiah penuh) yang terdiri dari Fasilitas Kredit Tranche I sebesar Rp 2.745.579.000.000 (Rupiah penuh) dan Tranche II sebesar Rp 1.952.381.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit, termasuk masa tenggang terhitung sejak ditandatanganinya akta dan berakhir pada tanggal 6 Maret 2022. Tingkat suku bunga Average Time Deposit untuk jangka waktu 3 bulan dari bank-bank sindikasi yang dimuat di media massa ditambah margin 6% dengan jaminan berupa tagihan atas pendapatan tol dan pendapatan usaha lain yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 6.711.371.000.000 (Rupiah penuh). Saldo 31 Desember 2014 sebesar Rp 1.819.265.032.341 (Rupiah penuh).
Based on the Deed No. 21 dated December 11, 2009 TMJ had syndicates credit agreement with PT Bank Negara Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Pembangunan Daerah Jawa Tengah for financing Semarang - Solo Toll Road Project Section I amounting to Rp 4,697,960,000,000 (full Rupiah) comprises of investment scheme facilities for Tranche I amounting to Rp 2,745,579,000,000 (full Rupiah) and Tranche II amounting to Rp 1,952,381,000,000 (full Rupiah). Credit Facility period included grace period start since signed loan agreement deed and it will mature on March 6, 2022. The Weighted Average Time Deposit Rate for 3 months period from syndicated banks plus 6% for margin with collateral toll revenue and others revenues and will bonded fiducially amounting to Rp 6,711,371,000,000 (full Rupiah). As of December 31, 2014, the outstanding loan was Rp 1,819.265.032.341 (full Rupiah).
d. PT Marga Lingkar Jakarta (MLJ) d. PT Marga Lingkar Jakarta (MLJ) Berdasarkan Perjanjian Kredit Sindikasi No.13 tanggal
13 Oktober 2011, MLJ menandatangani perjanjian kredit sindikasi dengan PT Bank Mandiri (Persero) Tbk dan PT Bank DKI untuk pembiayaan proyek pembagunan jalan tol Lingkarluar Jakarta Seksi W2 Utara dengan maksimum kredit Rp 1.554.000.000.000 (Rupiah penuh) termasuk IDC Rp 168.000.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit adalah 15 tahun sejak ditandatanganinya akta. Tingkat suku bunga untuk 1 tahun pertama adalah 10%, untuk selanjutnya menggunakan tingkat suku bunga Average Time Deposit untuk jangka waktu 3 bulan dari bank-bank sindikasi yang dimuat di media massa ditambah margin 4% dengan jaminan berupa tagihan atas pendapatan tol dan pendapatan usaha lainnya yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 2.149.000.000.000 (Rupiah penuh). Saldo per 31 Desember 2014 sebesar Rp 945.847.824.126 (Rupiah penuh.
Based on the Deed of Syndicates Credit No.13 dated October 13, 2011, MLJ signed syndicates credit agreement with PT Bank Mandiri (Persero) Tbk and PT Bank DKI for financing Jakarta Outer Ring Road Section W2 North with maximum limit of Rp 1,554,000,000,000 (full Rupiah) including Interest During Construction (IDC) Rp 168,000,000,000 (full Rupiah). The Maturity Date of Credit is 15 years which be effective since the signing of the Deed. The interest rate is 10% per annum for the first year and for the remaining years using 3 months of Average Time Deposit Rate from syndicated banks plus 4% of margin with collateral toll revenues and other revenues and will bonded fiducially amounting to Rp 2,149,000,000,000 (full Rupiah). The outstanding loan as of December 31, 2014 amounting to Rp 945,847,824,126 (full Rupiah).
e. PT Jasamarga Bali Tol (JBT) e. PT Jasamarga Bali Tol (JBT)
Berdasarkan Akta Perjanjian Kredit Sindikasi No. 79 tanggal 22 Juni 2012, JBT telah memperoleh fasilitas Kredit Investasi (KI) Sindikasi Pembiayaan Proyek Jalan Tol Nusa Dua – Ngurah Rai – Benoa dari PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Tabungan Negara (Persero) Tbk dan PT Bank Pembangunan Daerah Bali dengan jumlah maksimum kredit sebesar Rp 1.622.000.000.000 (Rupiah penuh) termasuk IDC sebesar Rp 117.300.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit adalah 15 tahun sejak ditandatanganinya akta. Tingkat suku bunga untuk 1
Based on the Deed of Syndicates Credit No. 79 dated June 22, 2012, JBT signed syndicates credit agreement with PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Tabungan Negara (Persero) Tbk dan PT Bank Pembangunan Daerah Bali for financing Nusa Dua – Ngurah Rai – Benoa Toll Road Project with maximum limit of Rp 1,622,000,000,000 (full Rupiah) including Interest During Construction with maximum limit of Rp 117,300,000,000 (full Rupiah). The Maturity Date of Credit is 15 years which be effective since the signing of the Deed. The Interest Rate is 10% per
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 71 Paraf:
tahun pertama adalah 10%, untuk selanjutnya menggunakan tingkat suku bunga Simple Interest Rate ditambah marjin sebesar 5% dengan jaminan berupa tagihan atas pendapatan tol dan pendapatan usaha lainnya yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 2.484.780.000.000 (Rupiah penuh). Saldo per 31 Desember 2014 sebesar Rp 1.200.456.771.336 (Rupiah penuh).
annum for the first year and for the remaining years using Simple Interest Rate from syndicated banks plus 5% of margin with collateral toll revenues and other revenues and will bonded fiducially amounting to Rp 2,484,780,000,000 (full Rupiah). The outstanding loan as of December 31, 2014 amounting to Rp 1,200,456,771,336 (full Rupiah).
f. PT Jasamarga Pandaan Tol (JPT) f. PT Jasamarga Pandaan Tol (JPT)
Berdasarkan Perjanjian Kredit Sindikasi No. 38 tanggal 12 Juni 2012, JPT menandatangani perjanjian kredit sindikasi dengan PT Bank Mandiri (Persero) Tbk, PT Bank DKI, PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, PT Bank Pembangunan Daerah Jawa Timur Tbk untuk pembiayaan proyek pembagunan jalan tol Gempol - Pandaan dengan maksimum kredit Rp 733.000.000.000 (Rupiah penuh) termasuk IDC Rp 84.000.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit adalah 15 tahun sejak ditandatanganinya akta. Tingkat suku bunga untuk 1 tahun pertama adalah 10,50%, untuk selanjutnya menggunakan tingkat suku bunga Simple Interest Rate ditambah margin 5,25% dengan jaminan berupa tagihan atas pendapatan tol dan pendapatan usaha lainnya yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 1.202.242.000.000 (Rupiah penuh). Saldo per 31 Desember 2014 sebesar Rp 624.460.095.865 (Rupiah penuh).
Based on the Deed of Syndicates Credit No. 38 dated June 12, 2012, JPT signed syndicates credit agreement with PT Bank Mandiri (Persero) Tbk, PT Bank DKI, PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, PT Bank Pembangunan Daerah Jawa Timur Tbk for financing Gempol – Pandaan Toll Road with maximum limit of Rp 733,000,000,000 (full Rupiah) including Interest During Construction (IDC) Rp 84,000,000,000 (full Rupiah). The Maturity Date of Credit is 15 years which be effective since the signing of the Deed. The Interest Rate is 10.50% per annum for the first year and for the remaining years using Simple Interest Rate from syndicated banks plus 5.25% of margin with collateral toll revenues and other revenues and will bonded fiduciary amounting to Rp 1,202,242,000,000 (full Rupiah). The outstanding loan as of December 31, 2014 amounting to Rp 624,460,095,865 (full Rupiah).
21. Utang Obligasi 21. Bonds Payable
2014 2013
Rp Rp
Obligasi Jasa Marga: Jasa Marga Bond:XIII Seri R 1,500,000,000 1,500,000,000 XIII - R Series
XII Seri Q 1,000,000,000 1,000,000,000 XII - Q Series
XIV Seri JM - 10 1,000,000,000 1,000,000,000 XIV JM - 10 Series
JORR II 259,154,384 259,154,384 JORR II
Seri S A -- 700,000,000 Seri S A
Seri S B 400,000,000 400,000,000 Seri S B
Seri S C 1,000,000,000 1,000,000,000 Seri S C
Seri S T 1,000,000,000 -- Seri S T
Total 6,159,154,384 5,859,154,384 Total
Biaya Penerbitan yang Belum Diamortisasi (14,724,321) (14,778,396) Unamortized Bond Issuance Cost
Jumlah Utang Obligasi 6,144,430,063 5,844,375,988 Total Bond Payable
Bagian yang Jatuh Tempo Dalam Satu Tahun -- (700,000,000) Current Maturities
Utang Obligasi Bagian Jangka Panjang 6,144,430,063 5,144,375,988 Bond Payable of Long - Term Portion
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 72 Paraf:
Jumlah pembayaran kembali untuk utang obligasi menurut tahun jatuh tempo adalah sebagai berikut:
The amounts of repayments of bonds payable by the year of maturity are as follows:
Tahun Jatuh Tempo/ Total
Year of Maturity Rp
2016 2,477,377,192
2017 1,500,000,000
2018 77,377,192
2019 1,000,000,000
2020 1,000,000,000
2021 104,400,000
Total 6,159,154,384
Persyaratan rasio keuangan Perusahaan berdasarkan perjanjian obligasi adalah Rasio Utang terhadap Ekuitas maksimal 5:1 dan Interest Coverage Ratio minimal 1,25: 1.
The Company's financial ratio requirements of all bonds payable are Debt to Equity Ratio maximum of 5:1 and Interest Coverage Ratio minimum of 1.25:1.
a. Obligasi Jasa Marga XIII Seri R Tahun 2007 a. Jasa Marga Bond XIII Series R Year 2007 Berdasarkan Akta No. 26, tanggal 4 Mei 2007, Akta Adendum 1 No.10, tanggal 6 Juni 2007, Perjanjian Perwaliamanatan Obligasi Jasa Marga XIII Seri R Tahun 2007 dari Notaris Poerbaningsih Adi Warsito, SH, dengan nilai nominal obligasi Rp 1.500.000.000.000 (Rupiah penuh), tingkat bunga tetap sebesar 10,25% per tahun. Obligasi ditawarkan dengan nilai 100% dari jumlah pokok. Bunga obligasi dibayarkan setiap triwulan. Jangka waktu obligasi yaitu 10 tahun, jatuh tempo 21 Juni 2017. Bertindak selaku wali amanat adalah PT Bank Mega Tbk Peringkat obligasi adalah idA+ dari PT Pemeringkat Efek Indonesia (Pefindo).
Based on the Deed No. 26 dated May 4, 2007, the Deed of Addendum 1 No.10, dated June 6, 2007, and Bond Trustee Agreement of Jasa Marga XIII Series R Year 2007 of Notary Poerbaningsih Adi Warsito, SH, with a par value of Rp 1,500,000,000,000 (full Rupiah), a fixed interest rate of 10.25% per annum. The bonds were offered at 100% of the principal amount. Bond interest payable quarterly. The timing of 10-years bonds, maturing June 21, 2017. Acting as trustee is PT Bank Mega Tbk The bond ratings are idA+ by PT Pemeringkat Efek Indonesia (Pefindo),
Berdasarkan Akta Addendum I Perjanjian Perwaliamanatan Obligasi Jasa Marga XIII Seri R, tujuan penerbitan obligasi tersebut adalah untuk melunasi sebagian pinjaman (refinancing) Bank BCA, Bank Mandiri, Bank Bukopin, Bank Jabar dan utang bantuan pemerintah dengan proporsi masing-masing sekitar 48%, 25%, 10%, 14% dan 3%.
Based on the Deed of Agreement Addendum I of the Trustee Agreement for Jasa Marga Bond XIII Series R, the Company issued these bonds to repay partially of outstanding bank loans due to Bank BCA, Bank Mandiri, Bank Bukopin, bank Jabar and loan from government in the following proportions: 48%, 25%, 10%, 14% and 3%, respectively.
b. Obligasi Jasa Marga XII Seri Q Tahun 2006 b. Jasa Marga Bond XII Series Q Year 2006 Berdasarkan Akta No. 66, tanggal 18 Mei 2006, Akta Addendum I No.74, tanggal 19 Juni 2006 dan Akta Addendum II No.89, tanggal 26 Juni 2006, Perjanjian Perwaliamanatan Obligasi Jasa Marga XII Seri Q Tahun 2006, dari Notaris Imas Fatimah, SH, dengan nilai nominal obligasi sebesar Rp 1.000.000.000.000 (Rupiah penuh), tingkat bunga tetap sebesar 13,5% per tahun. Obligasi ini ditawarkan dengan nilai 100% dari jumlah pokok obligasi. Bunga obligasi dibayarkan setiap triwulan. Jangka waktu penyelesaian obligasi yaitu 10 tahun, jatuh tempo 6 Juni 2016. Bertindak selaku wali amanat adalah PT Bank Mega Tbk Peringkat obligasi tersebut adalah idA+ dari Pefindo.
Based on the Deed No. 66 dated may 18, 2006, the Deed of Addendum I No.74 dated June 19, 2006, and the Deed of Addendum II No. 89 dated June 26, 2006, and Bond Trustee Agreement of Jasa Marga Bond XII Series Q Year 2006 of Notary Imas Fatimah, SH, the par value of the bonds is Rp 1,000,000,000,000 (full Rupiah), with a fixed interest rate of 13.5% per annum. The bonds were offered at 100% of principal amount. Bond interest payable quarterly. The timing of 10 years bond, maturing June 6, 2016. Acting as trustee of this bond is PT Bank Mega Tbk The bond ratings are rated idA+ by Pefindo.
Berdasarkan Akta Addendum II Perjanjian Perwaliamanatan Obligasi Jasa Marga XII Seri Q, tujuan penerbitan obligasi tersebut adalah untuk melunasi
Based on the Deed of Addendum II of the Trustee Agreement for Jasa Marga Bond XII Series Q, the Company's purpose issued the bonds is to repay part of
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 73 Paraf:
sebagian pinjaman (refinancing) Bank BCA, Bank Mandiri, Bank BNI dan Bank Jabar dengan proporsi masing-masing sekitar 15%, 28%, 53% dan 4%.
the loans (refinancing) due to Bank BCA, Bank Mandiri, Bank BNI and Bank Jabar in the following proportions 15%, 28%, 53% and 4%, respectively.
c. Obligasi Jasa Marga XIV Seri JM-10 Tahun 2010 c. Jasa Marga Bonds XIV Series JM-10 Year 2010 Pada Oktober 2010, Perusahan memperoleh pernyataan efektif dari Badan Pengawas Pasar Modal (BAPEPAM) untuk menerbitkan Obligasi Jasa Marga XIV Seri JM-10 tahun 2010. Nilai nominal obligasi adalah Rp 1.000.000.000.000 (Rupiah penuh) dengan tingkat bunga tetap 9,35% per tahun. Obligasi ini ditawarkan dengan nilai 100% dari jumlah pokok obligasi. Bunga obligasi dibayarkan setiap triwulan. Jangka waktu penyelesaian obligasi yaitu 10 tahun, jatuh tempo 12 Oktober 2020. Bertindak selaku wali amanat PT Bank Mega Tbk Berdasarkan surat No.1044/PEF-DirN11/2010 tanggal 29 Juli 2010 dari Peringkat Obligasi tersebut PT Pemeringkat Efek Indonesia (Pefindo) adalah idAA+ (double A; Stable Outlook).
In October 2010, the Company received an effective statement from the Chairman of Capital Market Supervisory Agency (BAPEPAM) for offering Jasa Marga Bond XIV Series JM-10 year 2010. The par value of bonds is Rp 1.000.000.000.000 (full Rupiah) with fixed interest rate of 9.35% per annum. The bonds were offered at 100% of the principal amount. The interests paid quarterly. The timing of 10-years bond, maturing October 12, 2020. Acting as trustee of the bonds is PT Bank Mega Tbk Based on letters No.1044/PEF-DirN11/2010 dated July 29, 2010, the bonds rated by PT Pemeringkat Efek Indonesia (Pefindo) is idAA+ (double A; Stable Outlook).
Berdasarkan Akta Perjanjian Penjamin Efek Obligasi tanggal 4 Agustus 2010 juncto Addendum 1 Akta Perjanjian Penjamin Emisi Efek Obligasi No.45 tanggal 26 Agustus 2010 tujuan penerbitan obligasi adalah untuk pelunasan Obligasi Jasa Marga X Seri O Tahun 2002, percepatan pelunasan Kredit Investasi Bank BCA, pengembangan investasi pada bidang usaha non-tol (bidang properti, bidang teknologi informasi dan komunikasi, serta bidang engineering), dan pembiayaan modal kerja Perusahaan dengan proporsi masing-masing 43%, 27%, 25% dan 5%.
Based on the Deed of Bond Issuance Agreement dated August 4, 2010 in conjunction with Addendum 1 of the Deed of Bond Issuance Agreement No.45 dated August 26, 2010, the purpose of issued the bonds is for settlement the Jasa Marga Bonds X Series O Year 2002, accelerated settlement of the Investment Credit due to Bank BCA, non-toll investment development (property, information technology and communication, and also engineering), and financing the Company's working capital with the following proportions: 43%, 27%, 25% and 5%, respectively.
d. Obligasi Jasa Marga JORR II Tahun 2005 d. Jasa Marga Bond JORR II Year 2005
Berdasarkan Akta Perjanjian Penerbitan Obligasi Jasa Marga JORR II Tahun 2005 No.2 tanggal 5 Januari 2006, Perusahaan menerbitkan obligasi dengan nilai nominal sebesar Rp 261.000.000.000 (Rupiah penuh) yang terbagi dalam 3 Tranche, sebagai berikut:
Based on the Deed of Bond Issuance Agreement Jasa Marga JORR II Year 2005 No.2 dated January 5, 2006, the Company issued bonds at par value of Rp 261,000,000,000 (full Rupiah) divided into 3 Tranches as follows:
Tranche A sebesar Rp 78.300.000.000 (Rupiah penuh) untuk jangka waktu 10 tahun dan dikenakan bunga sebesar 11,5% per tahun untuk 5 tahun pertama, dan sebesar 15,25% per tahun untuk 5 tahun kedua;
Tranche A amounting to Rp 78,300,000,000 (full Rupiah) for a term of 10 years with an interest rate of 11.5% per annum for the first 5 years, and 15.25% per annum for the second 5 years;
Tranche B sebesar Rp 78.300.000.000 (Rupiah penuh) untuk jangka waktu 12 tahun dan dikenakan bunga sebesar 12,5% per tahun untuk 5 tahun pertama, dan sebesar 15,25% per tahun untuk tahun ke enam dan selanjutnya; dan
Tranche B amounting to Rp 78,300,000,000 (full Rupiah) for a term of 12 years with an interest rate of 12.5% per annum for the first 5 years and 15.25% per annum for the sixth years and after; and
Tranche C sebesar Rp 104.400.000.000 (Rupiah penuh) untuk jangka waktu 15 tahun dan dikenakan bunga sebesar 13,5% per tahun untuk 5 tahun pertama, dan sebesar 15,5% per tahun untuk tahun ke enam dan selanjutnya.
Tranche C with amounting to Rp 104,400,000,000 (full Rupiah) for a term of 15 years with an interest rate of 13.5% per annum for the first 5 years and 15.5% per annum for the sixth years and after.
Pada tanggal 24 Nopember 2008 Perusahaan telah membeli kembali obligasi JORR II ini sejumlah Rp 1.845.625.895 (Rupiah penuh) meliputi sertifikat yang
On November 24, 2008, the Company repurchased this obligation JORR 11 amounting to Rp 1,845,625,895 (full Rupiah) covers certificate owned by PT Bank IFI and
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 74 Paraf:
dimiliki Bank IFI dan menurut ketetapan surat Direktur Keuangan No.BA.KU2.1744 tanggal 28 Nopember 2008 atas pengalihan tersebut dianggap sebagai pelunasan dipercepat.
according to the decision letter of Finance Director No.BA.KU2.1744 dated November 28, 2008 such transfer was assumed as the accelerated settlement.
Rincian jumlah sertifikat yang dimiliki oleh para kreditur pada tanggal 31 Desember 2014 sebagai berikut:
The detail amount of certificates owned by creditors as of December 31, 2014 consist of:
Tranche
A dan/ and B* Tranche C 'Total
(Rupiah penuh/
full amount)
(Rupiah penuh/
full amount)
(Rupiah penuh/
full amount)full Rupiah) full Rupiah) full Rupiah)
PT Bank Pan Indonesia (Panin) Tbk 134,828,777 89,885,851 224,714,628
PT Bank Bukopin Tbk 8,909,584 5,939,723 14,849,307
PT Bank Pembangunan Daerah DKI 6,638,733 4,425,822 11,064,555
PT Interartha Multi Finance 863,097 575,398 1,438,495
PT Bank Harapan Santosa (dalam likuidasi/ in liquidation ) 531,809 354,540 886,349
PT Bank Guna Internasional (dalam likuidasi/ in liquidation) 405,764 270,509 676,273
PT Bank Windu Kentjana International Tbk 402,409 268,273 670,682
PT Bank Mega Tbk 378,401 252,267 630,668
PT Syariah Mega Indonesia 378,401 252,267 630,668
PT Bank Ekonomi Raharja Tbk 286,657 191,105 477,762
PT Bank Swadesi Tbk 258,929 172,619 431,548
PT Bank Permata Tbk 257,340 171,560 428,900
PT Bank Bisnis lnternasional 215,774 143,850 359,624
PT Bank Antardaerah 172,619 115,080 287,699
PT Bank Kesawan Tbk 138,509 92,339 230,848
PT Bank Himpunan Saudara 1906 Tbk 87,580 58,386 145,966
PT Bank IFI -- 1,230,411 1,230,411
Total 154,754,384 104,400,000 259,154,384
* Catatan : persentase jumlah utang obligasi Tranche A dan B masing-masing sebesar 50%.
* Notes: percentage of bonds payable under Tranche A and B is 50% each.
e. Obligasi Berkelanjutan I Jasa Marga Tahap I Tahun 2013 Seri S
e. Jasa Marga Bond I Phase I Year 2013 Series S
Pada September 2013, Perusahaan memperoleh pernyataan efektif dari Otoritas Jasa Keuangan (OJK) untuk menerbitkan Obligasi berkelanjutan I Jasa Marga Tahap I Tahun 2013 Seri S dengan nilai nominal sebesar Rp 2.100.000.000.000,- (Rupiah penuh) yang terdiri dari Obligasi Seri A dengan tingkat bunga tetap sebesar 8,40% per tahun berjangka waktu 370 (tiga ratus tujuh puluh) hari sebesar Rp 700.000.000.000,- (Rupiah penuh), Obligasi Seri B dengan tingkat bunga tetap sebesar 8,70% per tahun berjangka waktu 3 (tiga) tahun sebesar Rp 400.000.000.000,- (Rupiah penuh), Obligasi Seri C dengan tingkat bunga tetap sebesar 8,90% per tahun berjangka waktu 5 (lima) tahun sebesar Rp 1.000.000.000.000,- (Rupiah penuh).
In September 2013, the Company received an effective statement from Financial Services Authority (OJK) for offering Jasa Marga Bonds Phase I Year 2013 Series S with the par value of bonds is Rp 2.100.000.000 (full Rupiah), consisting of, A Series Bonds with fixed interest rate of 8.40% per annum, 370 (three hundreds and seventy) days period of time, is amount to Rp 700.000.000.000 (full Rupiah), B Series Bonds with fixed interest rate of 8.70% per annum , 3 (three) years period of time, is amount to Rp 400.000.000.000 (full Rupiah), C Series Bonds with fixed interest rate of 8.90% per annum, 5 (five) years period of time, amounting to Rp 1.000.000.000.000 (full Rupiah). Based on
Berdasarkan Prospektus Final Obligasi Berkelanjutan I Jasa Marga Tahap I Tahun 2013 Seri S tujuan penerbitan obligasi adalah sekitar 84,36% digunakan untuk Pelunasan Obligasi Perseroan XI Seri P Tahun 2003, pelunasan Obligasi Jasa Marga I Seri JM-10 Tanpa
Prospectus of Jasa Marga bonds Phase I Year 2013 Series S, the purposed of issued the bonds 84.36% is for settlement The Jasa Marga Bond XI Series P Year 2003, The Jasa Marga Bond I Series JM-10 (zero coupon), and The Jasa Marga Bond JORR I, 7.48% bonds is for
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 75 Paraf:
Bunga (zero coupon), dan pelunasan Obligasi Jasa Marga JORR I, kemudian 7,48% digunakan untuk kegiatan pengembangan usaha Perseroan melalui penyertaan modal di Entitas Anak Perseroan (MNA, MLJ, JPT) dan 8,16% digunakan untuk modal kerja Perseroan, yaitu peningkatan kapasitas jalan. Bertindak selaku wali amanat adalah PT Bank Mega Tbk Berdasarkan hasil pemeringkat atas surat utang jangka panjang sesuai dengan surat dari PT Pemeringkat Efek Indonesia (Pefindo) No. 1150/PEF-Dir/IV/2013 tanggal 26 Juni 2013, hasil pemeringkat atas Obligasi Berkelanjutan I Tahun 2013 Perseroan adalah idAA (double A).
expansion of equity investment in subsidiaries (MNA, MLJ, JPT) and 8.16% bonds is for company’s working capital in enhancement toll road capacity. Acting as trustee of the bonds is PT Bank Mega Tbk Based on letters No. 1150/PEF-Dir/IV/2013, dated June 26, 2013, The Bonds rated by PT Pemeringkat Efek Indonesia (Pefindo) is idAA (Double A).
f. Obligasi Berkelanjutan I Jasa Marga Tahap II Tahun 2014 Seri T
f. Jasa Marga Bond I Phase II Year 2014 Series T
Obligasi Berkelanjutan I Jasa Marga Tahap II Tahun 2014 seri T diterbitkan tanggal 19 September 2014. Nilai nominal Obligasi adalah sebesar Rp 1.000.000.000.000 (Rupiah penuh) dengan tingkat bunga tetap 9,85% dan jangka waktu 5 (lima) tahun. Berdasarkan Informasi Tambahan (INTAM) Obligasi Berkelanjutan I Jasa Marga Tahap II Tahun 2014 Seri T tujuan penerbitan obligasi adalah sekitar 70% digunakan untuk pelunasan Obligasi Berkelanjutan I Jasa Marga Tahap I Tahun 2013 Seri S-A, dan sisanya sekitar 30% digunakan untuk pembayaran sebagian pinjaman Kredit Modal Kerja Perseroan. Bertindak selaku wali amanat adalah PT Bank Mega Tbk.
Jasa Marga Bond I Phase II 2014 T series was issued on September 19, 2014. The face value of bond is Rp 1,000,000,000,000 (full Rupiah), with a fixed interest rate of 9.85% and a 5 (five) year term. In the Additional Information (INTAM) Report of Jasa Marga Bond I Phase II 2014 T Series, 70% of fund raised from the bond issuance aimed for the repayment of Jasa Marga Bond I Year 2013 Series S-A, while the remaining 30% aimed to fund some of the Company’s working capital. The trustee is PT Bank Mega Tbk.
Berdasarkan hasil pemeringkatan atas surat utang jangka panjang dalam surat No. 884/PEF-Dir/VI/2014 tanggal 4 Juni 2014 dari PT Pemeringkat Efek Indonesia (Pefindo), hasil pemeringkat atas Obligasi Berkelanjutan I Tahun 2013 Perseroan adalah idAA (double A).
Based on the report of long-term notes payable rating in the letter No. 884/PEF-Dir/VI/2014 dated June 4, 2014 from PT Pemeringkat Efek Indonesia (Pefindo), the rating of Jasa Marga Bond I Year 2013 is idAA (double A).
22. Liabilitas Kerjasama Operasi 22. Joint Operation Liabilities
Merupakan liabilitas kerjasama operasi kepada investor dalam pembiayaan pembangunan aset tetap jalan tol.
Represents liabilities under joint operation agreements to investors arising from acquisition of toll road assets.
2014 2013
Rp Rp
Bagi Pendapatan Tol/ Toll Revenue Sharing
PT Surya Cipta Swadaya 21,385,913 21,385,913
PT Jakarta Baru Cosmopolitan 820,300 820,300
Sub Jumlah/ Sub Total 22,206,213 22,206,213
Jumlah/ Total 22,206,213 22,206,213
23. Liabilitas Pembebasan Tanah 23. Land Acquisition Liabilities
Merupakan liabilitas Grup atas dana talangan pembelian tanah, untuk pembangunan ruas Jalan, dengan menggunakan dana talangan Badan Layanan Umum Badan Pengatur Jalan Tol. Penggunaan dana talangan tersebut oleh PT Marga Nujyasumo Agung adalah untuk pembangunan ruas jalan tol Surabaya – Mojokerto, untuk PT Trans Marga
Represent liabilities of the Group for the bail-out loan for land acquisition, for construction of roads by using bail out from the Public Service Assistance Unit - the Indonesian Toll Road Authority (ITRA). The use of bail out funds by PT Marga Nujyasumo Agung is for construction of Surabaya - Mojokerto toll road. PT Trans Marga Jateng is for construction
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 76 Paraf:
Jateng adalah untuk ruas Tol Semarang – Solo, untuk PT Margabumi Adhikaraya adalah untuk ruas tol Gempol-Pandaan, untuk PT Transmarga Jatim Pasuruan adalah untuk ruas tol Gempol-Pasuruan, untuk PT Marga Trans Nusantara adalah ruas Tol Kunciran-Serpong, dan untuk PT Marga Lingkar Jakarta adalah ruas Tol Ulujami-Kebon Jeruk (JORR W2 Utara), serta untuk PT Marga Sarana Jabar adalah ruas Tol Bogor Outer Ring Road. Selain itu, kewajiban pembebasan tanah merupakan kewajiban pembebasan tanah untuk pelunasan ganti rugi pelebaran Jalan Tol Sedyatmo.
of Semarang-Solo toll Road, PT Margabumi Adhikaraya is for construction Gempol- Pandaan Toll Road, PT Transmarga Jatim Pasuruan is for construction Gempol- Pasuruan Toll Road, PT Marga Trans Nusantara is for construction Kunciran- Serpong Toll road and PT Marga Lingkar jakarta is for construction Ulujami-Kebon Jeruk (JORR North W2) and for PT Marga Sarana Jabar is for construction Bogor Outer Ring Road Toll Road. In addition, the land acquisition liability is also for settlement payment for widening of Sedyatmo Toll Road.
24. Utang Sewa Pembiayaan 24. Capital Lease Payable
Perusahaan mengadakan kerjasama dengan PT Module Intracs Yasatama, PT New Module Int Efkom AG untuk Pekerjaan Pengadaan dan Pemeliharaan Peralatan Tol pada Jalan Tol Jakarta - Cikampek, Jalan Tol Cipularang dan Jalan Tol Padaleunyi dengan Sistem Pendanaan dari Pihak Kontraktor, selanjutnya Pihak Kontraktor menyewakan peralatan tol kepada Perusahaan untuk jangka waktu 8 (delapan) tahun terhitung sejak ditandatanganinya Berita Acara Pengoperasian.
The Company entered into a joint operation with PT Module Intracs Yasatama, PT New Module Int Efkom AG for Work Procurement and Maintenance of Toll Equipments at Jakarta-Cikampek Toll Road, Cipularang Toll Road and Padaleunyi Toll Road under Financing System from the Contractor, then the Contractor party would rent such toll equipments to the Company for a period of 8 (eight) years from the signing of the Minutes of Operation
Saldo utang sewa pembiayaan kepada PT Module Intracs Yasatama pada tanggal 31 Desember 2014 dan 31 Desember 2013 sebagai berikut:
Total of the Capital lease payable to PT Module Intracs Yasatama as of December 31, 2014 and December 31, 2013 as follows:
2014 2013
Rp Rp
Utang Sewa Pembiayaan 49,964,832 66,901,257 Capital Lease Payable
Bagian yang Jatuh Tempo
Dalam Waktu Satu Tahun (15,484,840) (19,776,022) Current Maturities Portion
Bagian Jangka Panjang 34,479,992 47,125,235 Long - Term Portion
25. Provisi Pelapisan Jalan Tol 25. Provision for Overlay
2014 2013
Rp Rp
Saldo Awal 331,090,401 324,799,298 Beginning Balance
Penambahan 383,423,561 340,108,272 Addition
Realisasi (348,405,365) (333,817,169) Realization
Saldo Akhir 366,108,597 331,090,401 Ending Balance
Bagian Jangka Pendek 209,396,402 206,136,188 Current Portion
Bagian Jangka Panjang 156,712,195 124,954,213 Long Term Portion
Jumlah 366,108,597 331,090,401 Total
Provisi pelapisan jalan tol merupakan estimasi liabilitas pelapisan ulang jalan tol secara berkala seiring dengan penggunaan jalan tol oleh pelanggan. Provisi ini diukur dengan menggunakan nilai kini atas estimasi manajemen terhadap pengeluaran yang diperlukan untuk menyelesaikan kewajiban pelapisan ulang.
Provision for overlay is a periodic estimated liability for overlay in line with toll roads usage. Provision is measured by present value of management’s estimates of expenditure required to accomplish the overlay liabilities.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 77 Paraf:
26. Pendapatan Diterima Dimuka 26. Unearned Revenue
Merupakan pendapatan sewa iklan, lahan, tempat peristirahatan dan pendapatan lain yang diterima dimuka atas pemanfaatan Ruang Milik Jalan Tol (Rumijatol).
Represents revenue received from rental of advertisements, space and rest areas, and other unearned revenue for use of the Space Owned Toll Road Area (Rumijatol).
27. Liabillitas Imbalan Kerja 27. Employee Benefit Liabilities
2014 2013
Rp Rp
Perusahaan The Company
Program Kesehatan Pensiunan 269,808,653 241,633,603 Pension Health - Care Program
Program Pensiun 44,844,285 49,274,028 Pension Program
Program Purna Karya 74,545,311 31,726,612 Post-Retirement Benefits Program
Sub Jumlah 389,198,249 322,634,243 Sub Total
Entitas Anak Subsidiaries
Program Pensiun dan Imbalan Pension Program and Other Post
Pasca Kerja Lainnya Benefits Program
PT Marga Nujyasumo Agung 2,169,886 2,102,460 PT Marga Nujyasumo Agung
PT Jasa Layanan Pemeliharaan 1,216,494 1,021,442 PT Jasa Layanan Pemeliharaan
PT Marga Lingkar Jakarta 587,253 -- PT Marga Lingkar Jakarta
PT Trans Marga Jateng 461,524 350,840 PT Trans Marga Jateng
PT Jasamarga Bali Tol 114,877 -- PT Jasamarga Bali Tol
PT Jalantol Lingkarluar Jakarta* (2,758,302) -- PT Jalantol Lingkarluar Jakarta*
Sub Jumlah 1,791,732 3,474,742 Sub Total
Jumlah 390,989,981 326,108,985 Total
* Nilai aset program imbalan pasti melebihi nilai kewajiban atas imbalan kerja pada tanggal pelaporan.
* The value of defined benefit from plan asset is higher than employee benefit obligation at reporting date.
Estimasi liabilitas imbalan kerja yang diakui Perusahaan dan Entitas Anak adalah sebagai berikut:
The estimated employee benefits liabilities recognized by the Company and the Subsidiaries are as follows:
a. Program Kesehatan Pensiunan a. Pension Healthcare Program
Rekonsiliasi saldo awal dan akhir dari nilai kini liabilitas adalah sebagai berikut:
Reconciliation of beginning and ending balance of present value of obligation is as follows:
2014 2013
Rp Rp
Nilai Kini Liabilitas - Awal Tahun 308,306,747 330,967,879 Present Value Liability - Beginning of Year
Biaya Jasa Kini 9,315,267 9,265,717 Present Service Cost
Biaya Bunga 24,664,540 20,154,454 Interest Cost
Pembayaran Imbalan (10,101,016) (8,505,058) Benefits Payments
Penyesuaian -- 292,775 Adjustment
Keuntungan (Kerugian) Aktuarial (47,441,775) (43,869,020) Actuarial Gain (Loss)
Dampak Perubahan Asumsi 5,367,912 -- Assumtion Changed Effect
Nilai Kini Liabilitas - Akhir Tahun 290,111,676 308,306,747 Present Value Liability - End of Year
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 78 Paraf:
Rincian liabilitas yang diakui dalam laporan posisi keuangan konsolidasian adalah sebagai berikut:
The details of liabilities recognized in the consolidated statements of financial position are as follows:
2014 2013
Rp Rp
Nilai Kini Liabilitas Manfaat Pasti Present value - Defined Benefit Liability
Posisi Pendanaan 290,111,676 308,306,747 Funding
Biaya Jasa Lalu yang Belum Diakui (Non Vested) (20,392,696) (22,804,124) Unrecognized Past Service (Non Vested)
Keuntungan (Kerugian) Aktuarial Belum Diakui 89,673 (43,869,020) Unrecognized Actuarial Gain (Loss)
Liabilitas yang Diakui 269,808,653 241,633,603 Recognized Liability
Mutasi liabilitas yang diakui di laporan posisi keuangan adalah sebagai berikut:
Movements in the liabilities in the statements of financial position are as follows:
2014 2013
Rp Rp
Liabilitas - Awal Tahun 241,633,603 210,797,570 Liability - Beginning of Year
Beban yang diakui 38,276,066 38,512,110 Recognized Expenses
Pembayaran Imbalan (10,101,016) (8,505,058) Benefits Payments
Penyesuaian -- 828,981 Adjustment
Liabilitas - Akhir Tahun 269,808,653 241,633,603 Liability - End of Year
Rincian beban yang diakui di tahun berjalan adalah sebagai berikut:
The details of expenses for the current year are as follows:
2014 2013
Rp Rp
Biaya Jasa Kini 9,315,267 9,265,717 Current Service Cost
Biaya Bunga 24,664,540 20,154,454 Interest Cost
Biaya Jasa Lalu yang Belum Menjadi Hak 2,903,047 2,850,516 Unrecognized Past Service (Non Vested)
Keuntungan (Kerugian) Aktuarial yang Diakui 1,393,212 6,241,423 Recognized Actuarial Gain (Loss)
Beban yang Diakui 38,276,066 38,512,110 Recognized Expenses
Jumlah periode saat ini dan periode empat tahun sebelumnya dari nilai kini kewajiban imbalan pasti, nilai wajar aset program dan defisit pada program dan penyesuaian yang timbul pada liabilitas program dan aset program dinyatakan sebagai jumlah pada akhir periode pelaporan adalah sebagai berikut:
Total current period and four previous annual period funded status from present value of benefit obligation, fair value of plan asset and deficit in the program, and experience adjustment in terms of amount at end of reporting period on obligation and on fair value of plan asset is as follows:
2014 2013 2012 2011 2010
Rp Rp Rp Rp Rp
Nilai Kini Liabilitas Manfaat Pasti/
Present value of Defined Benefit Liability 290,111,676 308,306,747 330,967,879 259,738,117 244,569,023
Nilai Wajar Aset Program/
Fair Value of Program Assets -- -- -- -- --
Posisi Pendanaan/ Funding 290,111,676 308,306,747 330,967,879 259,738,117 244,569,023
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 79 Paraf:
Asumsi aktuaria yang digunakan dalam menentukan beban dan liabilitas imbalan pascakerja adalah sebagai berikut:
Actuarial assumptions used to determine post-employment benefit expenses and liabilities are as follows:
2014 2013
Tingkat Diskonto/ Discount Rate 8% 6%
Estimasi Kenaikan Gaji Pegawai Aktif/ Salary Increment 6.5% 6.5%
Estimasi Kenaikan Biaya Kesehatan/ Health Care Increment 7.5% 8%
Tingkat Mortalita/ Mortality Rate TMI 3 TMI 3
Tingkat Cacat/ Disability Rate 10 % dari TMI 3 10 % dari TMI 3
Metode Aktuaria/ Acturial Method
Usia Pensiun Normal/ Pension Normal Age
Average of remaining of working period
Garis lurus/ Straight line
Rata-rata sisa masa kerja/
b. Program Pensiun b. Pension Program Rekonsiliasi saldo awal dan akhir dari nilai kini liabilitas yang adalah sebagai berikut:
Reconciliation of beginning and ending balance of present value of obligation is as follows:
2014 2013
Rp Rp
Nilai Kini Liabilitas - Awal Tahun 910,659,663 1,045,409,247 Present Value Liability - Beginning of Year
Biaya Jasa Kini 34,377,722 25,041,537 Present Service Cost
Biaya Bunga 72,852,773 62,724,555 Interest Cost
Pembayaran Imbalan (37,833,583) (28,076,485) Benefits Payments
Keuntungan (Kerugian) Aktuarial 52,556,191 (194,439,191) Actuarial Gain (Loss)
Dampak Perubahan Asumsi 14,444,122 -- Assumtion Changed Effect
Nilai Kini Liabilitas - Akhir Tahun 1,047,056,888 910,659,663 Present Value Liability - End of Year
Rincian liabilitas yang diakui dalam laporan posisi keuangan konsolidasian adalah sebagai berikut:
Reconciliation of beginning and ending balance of fair value of plan asset is as follows:
2014 2013
Rp Rp
Nilai Wajar Aset Program - Awal Tahun 617,844,365 614,800,234 Fair Value of Program Assets - Beginning of Year
Iuran Perusahaan 63,073,790 32,637,433 Contribution of Employer
Imbal Hasil Ekspektasian Aset Program 64,873,658 54,717,221 Expected Return from Program Assets
Imbalan yang Dibayarkan (37,833,583) (28,076,485) Benefit Payment
Keuntungan (Kerugian) Aktuarial 30,154,576 (56,234,038) Actuarial Gain (Loss)
Nilai Wajar Aset Program - Akhir Tahun 738,112,806 617,844,365 Fair Value of Program Assets - End of Year
Rincian liabilitas yang diakui dalam laporan posisi keuangan konsolidasian adalah sebagai berikut:
The details of liabilities recognized in the consolidated statements of financial position are as follows:
2014 2013
Rp Rp
Nilai Kini Liabilitas Manfaat Pasti 1,047,056,888 910,659,663 Present value - Defined Benefit Liability
Nilai Wajar Aset Program (738,112,806) (617,844,365) Fair Value of Program Assets
Posisi Pendanaan 308,944,082 292,815,298 Funding
Keuntungan (Kerugian) Aktuarial Belum Diakui (264,099,797) (243,541,270) Unrecognized Actuarial Gain (Loss)
Liabilitas yang Diakui 44,844,285 49,274,028 Recognized Liability
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 80 Paraf:
Mutasi liabilitas yang diakui di laporan posisi keuangan adalah sebagai berikut:
Movements in the liabilities in the statements of financial position are as follows:
2014 2013
Rp Rp
Liabilitas - Awal Tahun 49,274,028 21,362,045 Liability - Beginning of Year
Beban yang diakui 58,644,047 60,549,416 Recognized Expenses
Pembayaran Imbalan (63,073,790) (32,637,433) Benefits Payments
Liabilitas - Akhir Tahun 44,844,285 49,274,028 Liability - End of Year
Rincian beban yang diakui di tahun berjalan adalah sebagai berikut:
The details of expenses for the current year are as follows:
2014 2013
Rp Rp
Biaya Jasa Kini 34,377,722 25,041,537 Current Service Cost
Biaya Bunga 72,852,773 62,724,555 Interest Cost
Imbal Hasil Ekspektasian Aset Program (64,873,658) (54,717,221) Expected Return from Program Assets
Keuntungan (Kerugian) Aktuarial yang Diakui 16,287,211 27,500,545 Recognized Actuarial Gain (Loss)
Beban yang Diakui 58,644,047 60,549,416 Recognized Expenses
Jumlah periode saat ini dan periode empat tahun sebelumnya dari nilai kini kewajiban imbalan pasti, nilai wajar aset program dan defisit pada program dan penyesuaian yang timbul pada liabilitas program dan aset program dinyatakan sebagai jumlah pada akhir periode pelaporan adalah sebagai berikut:
Total current period and four previous annual period funded status from present value of benefit obligation, fair value of plan asset and deficit in the program, and experience adjustment in terms of amount at end of reporting period on obligation and on fair value of plan asset is as follows:
2013 2012 2011 2010 2009
Rp Rp Rp Rp Rp
Nilai Kini Liabilitas Manfaat Pasti/
Present value of Defined Benefit Liability 1,047,056,888 910,659,663 1,045,409,247 705,743,341 598,270,558
Nilai Wajar Aset Program/
Fair Value of Program Assets (738,112,806) (617,844,365) (614,800,233) (568,750,035) (494,154,344)
Posisi Pendanaan/ Funding 308,944,082 292,815,298 430,609,014 136,993,306 104,116,214
Asumsi aktuaria yang digunakan dalam menentukan beban dan liabilitas imbalan pascakerja adalah sebagai berikut:
Actuarial assumptions used to determine post-employment benefit expenses and liabilities are as follows:
2014 2013
Tingkat Diskonto/ Discount Rate 8% 6%
Estimasi Kenaikan Gaji Pegawai Aktif/ Salary Increment 5% 5%
Estimasi Kenaikan Biaya Kesehatan/ Health Care Increment 0% 0%
Tingkat Mortalita/ Mortality Rate GA 1971 GA 1971
Tingkat Cacat/ Disability Rate 10 % dari GA 1971 10 % dari GA 1971
Metode Aktuaria/ Acturial Method
Usia Pensiun Normal/ Pension Normal Age
remaining of working period
Rata-rata sisa masa kerja/ Average of
Garis lurus/ Straight line
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 81 Paraf:
c. Program Purna Karya c. Post-Retirement Benefits Program Rekonsiliasi saldo awal dan akhir dari nilai kini liabilitas yang adalah sebagai berikut:
Reconciliation of beginning and ending balance of present value of obligation is as follows:
2014 2013
Rp Rp
Nilai Kini Liabilitas - Awal Tahun 420,680,114 457,261,315 Present Value Liability - Beginning of Year
Biaya Jasa Kini 20,482,960 17,875,652 Present Service Cost
Biaya Bunga 33,654,409 27,435,679 Interest Cost
Pembayaran Imbalan (47,408,772) (30,728,336) Benefits Payments
Keuntungan (Kerugian) Aktuarial (1,108,945) (51,164,196) Actuarial Gain (Loss)
Penyesuaian Segera 67,736,219 -- Adjustment
Dampak Perubahan Asumsi (Kewajiban) 2,928,344 -- Assumtion Changed Effect
Nilai Kini Liabilitas - Akhir Tahun 496,964,330 420,680,114 Present Value Liability - End of Year Rekonsiliasi saldo awal dan akhir dari nilai kini liabilitas yang adalah sebagai berikut:
Reconciliation of beginning and ending balance of present value of obligation is as follows:
2014 2013
Rp Rp
Nilai Wajar Aset Program - Awal Tahun 292,818,808 249,834,059 Fair Value of Program Assets-Beginning of Year
Iuran Perusahaan 59,098,151 45,208,235 Contribution of Employer
Imbal Hasil Ekspektasian Aset Program 26,353,693 22,485,065 Expected Return from Program Assets
Imbalan yang Dibayarkan (47,408,772) (30,728,336) Benefit Payment
Keuntungan (Kerugian) Aktuarial (35,583,297) 6,019,785 Actuarial Gain (Loss)
Nilai Wajar Aset Program - Akhir Tahun 295,278,583 292,818,808 Fair Value of Program Assets - End of Year
Rincian liabilitas yang diakui dalam laporan posisi keuangan konsolidasian adalah sebagai berikut:
Reconciliation of beginning and ending balance of fair value of plan asset is as follows:
2014 2013
Rp Rp
Nilai Kini Liabilitas Manfaat Pasti 496,964,330 420,680,114 Present value - Defined Benefit Liability
Nilai Wajar Aset Program (295,278,583) (292,818,808) Fair Value of Program Assets
Posisi Pendanaan 201,685,747 127,861,306 Funding
Biaya Jasa Lalu yang Belum Diakui (Non Vested) (27,839,298) (31,558,994) Unrecognized Past Service (Non Vested)
Keuntungan (Kerugian) Aktuarial Belum Diakui (99,301,137) (64,575,700) Unrecognized Actuarial Gain (Loss)
Liabilitas yang Diakui 74,545,311 31,726,612 Recognized Liability
Mutasi liabilitas yang diakui di laporan posisi keuangan adalah sebagai berikut:
Movements in the liabilities in the statements of financial position are as follows:
2014 2013
Rp Rp
Liabilitas - Awal Tahun 31,726,612 42,316,323 Liability - Beginning of Year
Beban yang diakui 101,916,850 34,618,524 Recognized Expenses
Pembayaran Imbalan (59,098,151) (45,208,235) Benefits Payments
Liabilitas - Akhir Tahun 74,545,311 31,726,612 Liability - End of Year
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 82 Paraf:
Rincian beban yang diakui di tahun berjalan adalah sebagai berikut:
The details of expenses for the current year are as follows:
2014 2013
Rp Rp
Biaya Jasa Kini 20,482,960 17,875,652 Current Service Cost
Biaya Bunga 33,654,409 27,435,679 Interest Cost
Imbal Hasil Ekspektasian Aset Program (26,353,693) (22,485,065) Expected Return from Program Assets
Biaya Jasa Lalu yang Belum Menjadi Hak 3,719,696 3,719,696 Unrecognized Past Service (Non Vested)
Keuntungan (Kerugian) Aktuarial yang Diakui 2,677,259 8,072,562 Recognized Actuarial Gain (Loss)
Penyesuaian Segera 67,736,219 -- Adjustment
Beban yang Diakui 101,916,850 34,618,524 Recognized Expenses
Jumlah periode saat ini dan periode empat tahun sebelumnya dari nilai kini kewajiban imbalan pasti, nilai wajar aset program dan defisit pada program dan penyesuaian yang timbul pada liabilitas program dan aset program dinyatakan sebagai jumlah pada akhir periode pelaporan adalah sebagai berikut:
Total current period and four previous annual period funded status from present value of benefit obligation, fair value of plan asset and deficit in the program, and experience adjustment in terms of amount at end of reporting period on obligation and on fair value of plan asset is as follows:
2014 2013 2012 2011 2010
Rp Rp Rp Rp Rp
Nilai Kini Liabilitas Manfaat Pasti/
Present value of Defined Benefit Liability 496,964,330 420,680,114 457,261,315 369,489,979 334,793,006
Nilai Wajar Aset Program/
Fair Value of Program Assets (295,278,583) (292,818,808) (249,834,059) (159,107,655) (113,369,001)
Posisi Pendanaan/ Funding 201,685,747 127,861,306 207,427,256 210,382,324 221,424,005
Asumsi aktuaria yang digunakan dalam menentukan beban dan liabilitas imbalan pascakerja adalah sebagai berikut:
Actuarial assumptions used to determine post-employment benefit expenses and liabilities are as follows:
2014 2013
Tingkat Diskonto/ Discount Rate 8% 6%
Estimasi Kenaikan Gaji Pegawai Aktif/ Salary Increment 6.5% 6.5%
Estimasi Kenaikan Biaya Kesehatan/ Health Care Increment 0% 0%
Tingkat Mortalita/ Mortality Rate
Tingkat Cacat/ Disability Rate
Metode Aktuaria/ Acturial Method
Usia Pensiun Normal/ Pension Normal Age
CSO 1980
10 % dari CSO 1980
Projected Unit Credit
56 tahun/ year
28. Modal Saham 28. Share Capital
Pemegang Saham Seri A mempunyai hak istimewa tertentu sebagai tambahan atas hak yang diperoleh Pemegang Saham Seri B. Hak istimewa tersebut mencakup hak khusus untuk mencalonkan anggota direksi dan komisaris dan untuk memberikan persetujuan atas : (a) peningkatan modal, (b) perubahan anggaran dasar, (c) penggabungan, peleburan, dan pengambilalihan, (d) pembubaran dan likuidasi, (e) pengangkatan dan pemberhentian anggota direksi dan komisaris. Perusahaan telah melakukan pembelian kembali atas saham yang beredar (treasury stocks) sampai tanggal 31 Desember 2014 sebanyak 24.523.500 lembar saham, dan hal ini mengakibatkan jumlah saham beredar terkoreksi.
The Shareholders of Series A shares have certain privileges in addition to any rights acquired by Series B Shareholders. These privileges include the exclusive rights to nominate directors and commissioners and to give approval for : (a) an increase in capital, (b) changes in the article of association, (c) merger, consolidation and acquisition, (d) dissolution and liquidation, (e) appointment and dismissal of directors and commissioners. The Company has bought back the outstanding shares (treasury stocks) to December 31, 2014 amounting to 24,523,500 shares, and this has resulted in the number of outstanding shares adjusted.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 83 Paraf:
Pemegang Saham Total Saham/ Presentase Total Shareholders
Shares Kepemilikan/ (Rupiah Penuh)/
Percentage of (Full Rupiah)
Ownership
Saham Seri A Dwiwarna Series A Dwiwarna - Share
Pemerintah Republik Indonesia 1 -- 500 The Government of the Republic of Indonesia
Saham Seri B Series B - Share
Pemerintah Republik Indonesia 4,759,999,999 70.00 2,379,999,999,500 The Government of the Republic of Indonesia
Manajemen; Management
Ir. Agoes Widjanarko, MIP Ir. Agoes Widjanarko, MIP
(Komisaris Utama) 80,000 0.00 40,000,000 (General Commissioner)
Ibnu Purna Muchtar, SE, MA. (Komisaris) 10,500 0.00 5,250,000 Ibnu Purna Muchtar, SE, MA. (Comissioner)
Ir. Adityawarman (Direktur Utama) 134,500 0.00 67,250,000 Ir. Adityawarman (President Director)
Ir. Hasanudin, M.Eng.Sc. (Direktur Operasi) 8,500 0.00 4,250,000 Ir. Hasanudin, M.Eng.Sc. (Operation Director)
Ir. Abdul Hadi HS, MM. Ir. Abdul Hadi HS, MM.
(Direktur Pengembangan Usaha) 260,500 0.00 130,250,000 (Business Development Director)
Ir. Reynaldi Hermansjah lr. Reynaldi Hermansjah
(Direktur Keuangan) 200,000 0.00 100,000,000 (Finance Director)
Ir. Muh. Najib Fauzan, MSc. Ir. Muh. Najib Fauzan, MSc.
(Direktur SDM dan Umum) 107,500 0.00 53,750,000 (Human Capital and General Affairs Director)
Karyawan 12,537,761 0.18 6,268,880,500 Employees
Total Manajemen dan Karyawan 13,339,261 0.20 6,669,630,500 Total Management and Employees
Masyarakat (masing-masing di bawah 5%) 2,026,660,739 29.80 1,013,330,369,500 Public (each below 5%)
Total 6,800,000,000 100 3,400,000,000,000 Total
31 Desember/ December 2014
Pemegang Saham Total Saham/ Presentase Total Shareholders
Shares Kepemilikan/ (Rupiah Penuh)/
Percentage of (Full Rupiah)
Ownership
Saham Seri A Dwiwarna Series A Dwiwarna - Share
Pemerintah Republik Indonesia 1 -- 500 The Government of the Republic of Indonesia
Saham Seri B Series B - Share
Pemerintah Republik Indonesia 4,759,999,999 70.00 2,379,999,999,500 The Government of the Republic of Indonesia
Manajemen; Management
Ir. Agoes Widjanarko, MIP Ir. Agoes Widjanarko, MIP
(Komisaris Utama) 80,000 0.00 40,000,000 (General Commissioner)
Ibnu Purna Muchtar, SE, MA. (Komisaris) 10,500 0.00 5,250,000 Ibnu Purna Muchtar, SE, MA. (Comissioner)
Ir. Adityawarman (Direktur Utama) 134,500 0.00 67,250,000 Ir. Adityawarman (President Director)
Ir. Hasanudin, M.Eng.Sc. (Direktur Operasi) 8,500 0.00 4,250,000 Ir. Hasanudin, M.Eng.Sc. (Operation Director)
Ir. Abdul Hadi HS, MM. Ir. Abdul Hadi HS, MM.
(Direktur Pengembangan Usaha) 260,500 0.00 130,250,000 (Business Development Director)
Ir. Reynaldi Hermansjah lr. Reynaldi Hermansjah
(Direktur Keuangan) 360,000 0.01 180,000,000 (Finance Director)
Ir. Muh. Najib Fauzan, MSc. Ir. Muh. Najib Fauzan, MSc.
(Direktur SDM dan Umum) 107,500 0.00 53,750,000 (Human Capital and General Affairs Director)
Karyawan 17,642,261 0.26 8,821,130,500 Employees
Total Manajemen dan Karyawan 18,603,761 0.27 9,301,880,500 Total Management and Employees
PT Jamsostek (Persero) - JHT 148,751,000 2.19 74,375,500,000 PT Jamsostek (Persero) - JHT
Masyarakat (masing-masing dibawah 2%) 1,872,645,239 27.54 936,322,619,500 Public (each below 2%)
Total 6,800,000,000 100.00 3,400,000,000,000 Total
31 Desember/ December 2013
Berdasarkan Rapat Umum Pemegang Saham Luar Biasa, tanggal 17 Januari 1998, yang dinyatakan dalam Akta No. 52, tanggal 16 Maret 1998 dari Notaris Imas Fatimah, S.H., dan telah memperoleh pengesahan dari Menteri Kehakiman
The estimated employee benefits liabilities recognized by the Company and the Subsidiaries are as follows: Based on the Extraordinary General Meeting of Shareholders on January 17, 1998, as stated in the Deed No. 52 dated March
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 84 Paraf:
Republik Indonesia melalui Surat Keputusan No.C2-3192. HT.01.04.Th.98, tanggal 3 April 1998, para pemegang saham menyetujui untuk meningkatkan modal dasar dari sebesar Rp 350.000.000.000 (Rupiah penuh) menjadi sebesar Rp 2.000.000.000.000 (Rupiah penuh) yang terbagi atas 2.000.000 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham dan meningkatkan modal ditempatkan dan disetor menjadi sebesar Rp 1.000.000.000.000 (Rupiah penuh).
16, 1998 of Notary Imas Fatimah, S.H., which was approved by the Minister of Justice of the Republic of Indonesia through the Decree No.C2-3192.HT.01.04.Th.98 dated April 3, 1998, the shareholders of the Company agreed to increase the authorized share capital from Rp 350,000,000,000 (full Rupiah) to Rp 2,000,000,000,000 (full Rupiah) which consist of 2,000,000 shares with par value of Rp 1,000,000 (full Rupiah) per share, and to increase the issued and paid in capital to become Rp 1,000,000,000,000 (full Rupiah).
Rapat Umum Pemegang Saham Luar Biasa yang telah dituangkan dalam Risalah No.RIS-292/D6.MBU/2007, tanggal 12 September 2007 dengan Akta No.27 tanggal 12 September 2007 dari Notaris Poerbaningsih Adi Warsito, S.H., memutuskan antara lain:
The Extraordinary General Meeting of Shareholders as set forth in Proceedings No.RIS-292/D6.MBU/2007, through the Deed No.27 dated September 12, 2007, of Notary Poerbaningsih Adi Warsito, S.H., decided, among other as follows:
1. Perubahan Anggaran Dasar Perusahaan sebagai berikut: 1. Amendment of the Company's Articles of Association by:
a. Peningkatan modal dasar Perusahaan dari semula Rp 2.000.000.000.000 (Rupiah penuh) menjadi sebesar Rp 9.520.000.000.000 (Rupiah penuh) dan modal ditempatkan dan disetor penuh dari Rp 1.000.000.000.000 (Rupiah penuh) menjadi sebesar Rp 2.380.000.000.000 (Rupiah penuh) yang berasal dari kapitalisasi sebagian saldo laba (ditahan) per 30 Juni 2007 sebesar Rp 1.380.000.000,000 (Rupiah penuh), sehingga saldo laba (ditahan) posisi per 30 Juni 2007 tersisa sebesar Rp 24.895.100.523 (Rupiah penuh);
a Increase of the Company's authorized share capital from Rp 2,000,000,000,000 (full Rupiah) to become Rp 9,520,000,000,000 (full Rupiah) and issued and paid in capital of Rp 1,000,000,000,000 (full Rupiah) to become Rp 2,380,000,000,000 (full Rupiah) derived from partial capitalization of retained earnings position as of June 30, 2007 amounting to Rp 1,380,000,000,000 (full Rupiah), therefore the retained earnings position as of June 30, 2007 remained at Rp 24,895,100,523 (full Rupiah);
b. Perubahan nilai nominal saham Perusahaan dari semula Rp 1.000.000 (Rupiah penuh) setiap saham menjadi sebesar Rp 500 (Rupiah penuh) setiap saham;
b. Changes of the par value of the Company’s shares from Rp 1,000,000 (full Rupiah) per share to Rp 500 (full Rupiah) per share;
c. Perubahan modal ditempatkan dan disetor penuh Perusahaan menjadi sebesar Rp 2.380.000.000.000 (Rupiah penuh), terbagi atas 4.760.000.000 lembar saham yang terdiri dari 1 (satu) saham Seri A Dwiwarna dan sebesar 4.759.999.999 lembar saham Seri B; dan
c. Changes in the Company's issued and fully paid in capital became Rp 2,380,000,000,000 (full Rupiah), divided into 4,760,000,000 shares consisting of 1 (one) Series A Dwiwarna Share and 4,759,999,999 Series B shares; and
d. Penyesuaian Anggaran Dasar Perusahaan dengan Undang-undang No.8 Tahun 1995 tentang Pasar Modal.
d. Changes of the Company's Articles of Association to conform with the Law No.8 Year 1995 regarding Capital Market.
2. Perubahan status Perusahaan dari Perusahaan Tertutup menjadi Perusahaan Terbuka.
2. Changes of the Company’s status from a Limited Company to become a Public Company.
3. Penjualan saham dalam simpanan Perusahaan kepada masyarakat melalui pasar modal sebanyak-banyaknya 30% dari jumlah saham yang dikeluarkan setelah Perusahaan melakukan Penawaran Umum Perdana (Initial Public Offering) atau sebanyak-banyaknya 2.040.000.000 lembar saham.
3. Sales of the Company's share in the portfolio to public through capital market as much as 30% of the issued shares after the Company made an Initial Public Offering or a maximum of 2,040,000,000 shares.
4. Penetapan program kepemilikan saham Perusahaan untuk karyawan dan manajemen Perusahaan melalui Employee and Management Stock Allocation (ESA) sebanyak-banyaknya 10% dari emisi saham baru Perusahaan yang diterbitkan (sebanyak-banyaknya
4. Determination of the Company's share ownership program for employees and management through the Employee and Management Stock Allocation (ESA) as much as 10% of the Company’s issuance of new shares issued (as much as 204,000,000 shares) in accordance
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 85 Paraf:
204.000.000 saham) sesuai dengan ketentuan pasar modal. Ketentuan alokasi saham tersebut sebagai berikut:
with capital market regulation. The stock allocation provisions are as follows:
a. Saham Bonus - Sebesar 1 (satu) kali gaji bersih bulan Juni 2007
a. Shares Bonus - An amount of 1 (one) times the net salary in June
2007; - Masa lock up 3 tahun atau yang bersangkutan tidak
bekerja lagi di Perusahaan; dan - A 3-years lock up period or the employee resigned
from the Company; and - Pembebanan saham bonus tersebut akan
dibiayakan pada anggaran biaya tahun 2007, dengan catatan, target laba setelah pajak tahun 2007 yang telah ditetapkan pada RUPS yang lalu.
- Imposition of bonus shares will be treated as expenses in the 2007 cost budget, with a condition, a target profit after tax in 2007 which has been set at the previous RUPS.
b. Saham Jatah Pasti Sebanyak 204.000.000 lembar saham (10% dari emisi saham baru) dikurangi jumlah saham bonus; dan tidak ada masa lock up.
b. The Fixed Allotment Shares A total of 204,000,000 shares (10% of the new shares issued) minus the number of bonus shares; and no lock up period.
c. Yang berhak memperoleh program kepemilikan saham karyawan dan manajemen Perusahaan adalah:
c. Those entitled for employee and management stock ownership program of the Company are:
- Direksi Perusahaan; - Directors of the Company; - Komisaris, Sekretaris Komisaris dan Staf Sekretaris
Perusahaan; dan - Commissioners, Secretary to Commissioners and
the Staffs of the Corporate Secretary; and - Karyawan tetap Perusahaan. - Permanent employees of the Company
Komisaris Independen dan Komite Audit yang bukan anggota komisaris tidak diperkenankan mengikuti program ESA.
Independent Commissioners and the Audit Committee who are not member of the Commissioner are not allowed to participate in the ESA program.
Jumlah saham yang diterbitkan sehubungan penawaran umum perdana saham tersebut adalah sebanyak 6.800.000.000 saham dengan nilai nominal per saham Rp 500 atau setara dengan Rp 3.400.000.000.000 (Rupiah penuh). Selisih antara jumlah yang diterima dengan jumlah nilai nominal dari saham yang diterbitkan adalah sebesar Rp 2.448.000.000.000 (Rupiah penuh) disajikan dalam bagian Tambahan Modal Disetor.
The number of shares issued related to the initial public offering were 6,800,000,000 shares with the par value of shares Rp 500 (full Rupiah) per share or equivalent to Rp 3,400,000,000,000 (full Rupiah). The difference between the proceeds amount and the amount of par value of shares issued amounting to Rp 2,448,000,000,000 (full Rupiah) are presented as part of Additional Paid in Capital.
Jumlah saham yang diterbitkan sehubungan pelaksanaan program ESA terdiri dari 11.862.000 saham bonus dan 189.337.500 saham jatah pasti dengan jumlah nilai nominal sebesar Rp 100.599.750.000 (Rupiah penuh). Selisih antara jumlah yang diterima dan jumlah nilai nominal dari saham yang diterbitkan dari saham bonus dan saham jatah pasti masing-masing sebesar Rp 14.234.400.000 (Rupiah penuh) dan Rp 227.205.000.000 (Rupiah penuh) disajikan dalam bagian Tambahan Modal Disetor. Jumlah beban kompensasi yang diakui sehubungan pelaksanaan program ESA sebesar Rp 20.165.400.000 (Rupiah penuh), dibebankan pada beban operasi tahun berjalan dan dikreditkan pada bagian dari Tambahan Modal Disetor. Sisa dari seluruh pelaksanaan program ESA yang tidak digunakan sejumlah 2.800.500 saham jatah pasti menjadi tidak berlaku.
The number of shares issued related to the implementation of the ESA program consists of 11,862,000 shares and 189,337,500 bonus shares for the fixed allotment share with total par value amounting to Rp 100,599,750,000 (full Rupiah). The difference between the proceeds amount and the total par value of the issued shares from bonus shares and the fixed allotment share amounting to Rp 14,234,400,000 (full Rupiah) and Rp 227,205,000,000 (full Rupiah), respectively, are presented as part of Additional Paid in Capital. Total compensation expenses recognized related to the program implementation ESA amounting to Rp 20,165,400,000 (full Rupiah) charged to current year operating expenses and is credited in part of Additional Paid in Capital. The rest of the entire implementation of the program ESA are not used a number of 2,800,500 shares from the fixed allotment share become expired.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 86 Paraf:
29. Tambahan Modal Disetor 29. Additional Paid in Capital
2014 2013
Rp Rp
Tambahan Modal Disetor dari: Additional Paid in Capital from:
Penawaran Umum Perdana Inital Public Offering
Saham Tahun 2007 2,343,266,337 2,343,266,337 Year 2007
Pembelian Saham Kembali Repurchase of Shares
(Saham Treasuti) (7,741,303) (7,741,303) (Treasury Stocks)
Hasil Bersih Net Proceeds from
Penjualan Saham Treasuti 118,365,066 118,365,066 Sales of Treasury Stocks
Jumlah 2,453,890,100 2,453,890,100 Total
30. Kepentingan Non Pengendali 30. Non Controlling Interest
Merupakan hak pemegang saham non pengendali atas aset bersih dan bagian rugi bersih entitas anak yang dikonsolidasikan.
Represent non controlling interest in net assets and portion of net loss of the consolidated subsidiaries.
2014 2013
Rp Rp
Kepentingan non-pengendali Non-controlling interest at the
pada awal tahun 1,561,168,645 1,176,638,207 beginning of year
Bagian kepentingan non-pengendali Net Income for the year atributable to
atas laba (rugi) bersih tahun berjalan (2,342,959) 384,582,558 Non-controlling interest
Pembagian Dividen (25,792) (52,120) Dividend distribution
Kepentingan non-pengendali Non-controlling interest
pada akhir tahun 1,558,799,894 1,561,168,645 at the end of year
Kepetingan non-pengendali atas aset neto Entitas Anak sebagai berikut:
The movements of the non-controling interest‘ share the net assets of the Subsidiaries are as follow:
2014 2013
Rp Rp
PT Marga Nujyasumo Agung (MNA) 375,085,549 75,086,406
PT Trans Marga Jateng (TMJ) 341,895,537 956,914,552
PT Jasamarga Bali Tol (JBT) 337,602,154 59,319,335
PT Marga Lingkar Jakarta (MLJ) 167,577,046 44,341,403
PT Marga Sarana Jabar (MSJ) 123,786,377 277,946,551
PT Jasamarga Pandaan Tol (JPT) 70,892,330 17,547,142
PT Marga Trans Nusantara (MTN) 55,540,337 97,528,232
PT Marga Kunciran Cengkareng (MKC) 40,695,283 3,008,904
PT Jasamarga Kualanamu Tol (JMKT) 36,477,755 --
PT Transmarga Jatim Pasuruan (TJP) 7,641,288 1,518,487
PT Jasamarga Properti (JMP) 1,112,411 15,491
PT Jalantol Lingkarluar Jakarta (JLJ) 491,773 671,981
PT Jasa Layanan Pemeliharaan (JLP) 2,054 27,270,161
Jumlah/ Total 1,558,799,894 1,561,168,645
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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31. Pendapatan Tol 31. Toll Revenues
2014 2013
Rp Rp
Perusahaan/ The Company
Jakarta - Cikampek 1,023,430,461 976,573,383
Cawang - Tomang - Pluit 754,275,560 686,795,164
JORR Seksi non S 848,929,473 710,633,832
Cikampek - Padalarang 835,992,083 741,088,701
Jakarta - Bogor - Ciawi 607,461,070 548,248,469
JORR S 210,821,056 212,540,905
Prof. Dr. Ir. Sedyatmo 458,046,022 423,161,468
Jakarta - Tangerang 467,116,715 408,011,261
Padalarang - Cileunyi 339,934,058 276,294,982
Surabaya - Gempol 309,024,660 270,467,516
Pondok Aren - Bintaro Viaduct - Ulujami 122,698,516 131,848,482
Palimanan - Kanci 112,435,751 107,487,136
Semarang Seksi A,B,C 106,496,438 104,770,032
Belawan - Medan - Tanjung Morawa 91,347,977 81,566,269
Sub Jumlah/ Sub Total 6,288,009,840 5,679,487,600
Entitas Anak/ Subsidiaries
Bogor Outer Ring Road 67,171,369 45,553,674
Semarang - Solo 107,250,609 36,485,489
Surabaya - Mojokerto 18,784,879 17,554,363
Nusa Dua - Benoa 106,140,831 23,651,143
Ulujami - Kebon jeruk 59,035,018 --
Sub Jumlah/ Sub Total 358,382,706 123,244,669
Jumlah/ Total 6,646,392,546 5,802,732,269
Pendapatan jalan tol diperoleh dari jumlah kendaraan yang lewat dikalikan dengan tarif sesuai dengan golongan kendaraan. Tarif tol yang ditetapkan didasarkan pada:
Revenue from toll road are derived from total number of passing vehicles multiplied with the tariff based on class of vehicles. The toll tariff shall be based on:
- Undang-undang (UU) No. 38 tahun 2004 sebagai pengganti Undang-undang No.13 tahun 1980.
- The Law No. 38 of Year 2004 as a replacement for the Law No.13 year 1980.
- Peraturan Pemerintah (PP) No.15 tahun 2005 sebagai
pengganti PP No.8 tahun 1990 dan PP No.40 tahun 2001. - The Government Regulation (GR) No.15 year 2005 as a
replacement for the GR No.8 of Year 1990 and the GR No.40 year 2001.
UU dan PP tersebut merupakan landasan hukum perhitungan/penyesuaian tarif tol yang kemudian ditetapkan oleh Keputusan Menteri Pekerjaan Umum (Kepmen PU).
Law and Government Regulations are legal basis for calculation/adjustment of the toll tariff which later determined by the Decree of Minister of Public Works.
Berdasarkan Peraturan Pemerintah No. 15 tahun 2005, pasal 66 ayat (1) dinyatakan: "Tarif dihitung berdasarkan kemampuan bayar pengguna jalan tol, besar keuntungan biaya operasi kendaraan, dan kelayakan investasi unsur-unsur kelayakan investasi" dan pasal 66 ayat (2): "Besar keuntungan biaya operasi kendaraan sebagaimana dimaksud pada ayat (1) dihitung berdasarkan pada selisih biaya operasi kendaraan dan nilai waktu pada jalan tol dengan lintas alternatif jalan umum yang ada".
Based on the Government Regulation No. 15 of Year 2005, article 66 section (1) declares that: "Tariff will be calculated based on payment capability of the toll user, amount of profits from the vehicles operating cost, and investment properness elements" and article 66 section (2): "The amount of profits from the vehicles operating cost as of referred to under section (1) is to be calculated based on difference of vehicle operating cost on the toll road with the available alternative public road".
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 88 Paraf:
Berdasarkan Kepmen PU No. 522/KPTS/M/2014 tanggal 11 September 2014 untuk ruas Prof. Dr. Ir. Sedyatmo dan berlaku pada tanggal 19 September 2014, tarif terjauh untuk ruas tersebut adalah sebagai berikut:
Based on the Decree of Minister of Public Works No. 522/KPTS/M/2014, dated September 11, 2014, and effective on September 19, 2014, the toll tariff for Prof. Dr. lr. Sedyatmo section toll road is as follows:
I II III IV V
1 Prof DR IR Sedyatmo 6,000 7,500 9,500 11,500 14,000
No Ruas/ SectionGolongan/ Group
Berdasarkan Kepmen PU No. 490/KPTS/M/2013 tanggal 28 Nopember 2013 untuk ruas Tol Dalam Kota Jakarta dan berlaku pada tanggal 05 Desember 2013, tarif terjauh untuk ruas tersebut adalah sebagai berikut:
Based on the Decree of Minister of Public Works No. 490/KPTS/M/2013, dated November 28, 2013, and effective on Desember 05, 2013, the toll tariff for Tol Dalam Kota section toll road is as follows:
I II III IV V
1 Jalan Tol Dalam Kota/ City Toll Road 8,000 10,000 13,000 16,000 19,000
No Ruas/ SectionGolongan/ Group
Tarif tol berdasarkan KEPMEN PU RI No. 539/KPTS/M/2014 tanggal 08 Oktober 2014 untuk ruas Jakarta-Cikampek dan berlaku pada tanggal 19 Oktober 2014, berikut tarif terjauh untuk ruas tersebut:
Based on the Decree of Minister of Public Works No. 311/KPTS/M/2012 dated October 01, 2012 and effective on October 08, 2012, the toll tariff for Jakarta-Cikampek section toll road is:
I II III IV V
1 Sistem Transaksi Terbuka/ Open System Transaction 4,000 6,000 8,000 10,000 12,000
2 Sistem Transaksi Tertutup/ Close System Transaction 9,500 15,500 19,000 24,000 29,000
3 Ramp/ Ramp 1,500 1,500 1,500 2,000 2,500
No. Ruas/ SectionGolongan/ Group
Berdasarkan Kepmen PU No. 394 /KPTS/M/2013, tanggal 04 Oktober 2013 dan berlaku pada tanggal 11 Oktober 2013 untuk ruas-ruas Jakarta - Tangerang, Serpong - Pondok Aren, Ulujami - Pondok Aren, Padaleunyi, Cipularang, Surabaya - Gempol, Belmera, Palikanci, Semarang, JORR (W,S,E) dan Jagorawi, tarif terjauh untuk ruas tersebut adalah sebagai berikut:
Based on the Decree of Minister of Public Works No. 394 /KPTS/M/2013, dated October 04, 2013, and effective on October 11, 2013, the long distance of toll tariff for toll road sections: Jakarta - Tangerang, Serpong - Pondok Aren, Ulujami - Pondok Aren, Padaleunyi, Cipularang, Surabaya - Gempol, Belmera, Palikanci, Semarang, JORR (W,S,E) and Jagorawi is as follows:
I II III IV V
1 Jakarta-Bogor-Ciawi
- Ramp Taman Mini / Dukuh 2,000 2,000 2,000 2,500 3,000
- Jakarta IC-Cimanggis (Sistem transaksi terbuka/ Open Sistem Transaction) 3,000 4,000 4,500 5,500 7,000
- Cimanggis Ciawi (Sistem transaksi tertutup/ Close Sistem Transaction) 5,000 6,000 9,500 11,500 13,500
2 Lingkar Luar Jakarta (JORR) 8,500 10,500 12,000 15,000 18,000
3 Pondok Aren Ulujami 2,500 5,000 6,000 7,500 9,000
4 Jakarta - Tangerang
- Ramp Meruya/Meruya Utara/Kebon Jeruk 2,000 2,000 2,000 2,500 3,000
- Tomang IC-Tangerang Barat 5,000 6,000 8,000 10,000 11,500
5 Cipularang 34,000 51,000 67,500 84,500 101,500
6 Padaleunyi 8,000 12,500 14,500 18,500 22,000
7 Palikanci 5,000 6,000 9,500 11,500 14,000
8 Semarang (Jatingaleh - Krapyak) 2,000 2,500 3,000 4,000 4,500
Semarang (Jatingaleh - Srondol) 2,000 2,500 3,000 4,000 4,500
Semarang (Jatingaleh - Kaligawe) 2,000 3,000 4,000 5,000 6,000
Semarang (Jatingaleh - Gayamsari) 2,000 3,000 4,000 5,000 6,000
Semarang (Gayamsari - Kaligawe) 2,000 3,000 4,000 5,000 6,000
No. Ruas/ SectionGolongan/ Group
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 89 Paraf:
I II III IV VNo. Ruas/ Section
Golongan/ Group
9 Surabaya - Gempol
Sistem Transaksi Terbuka/ Open System Transaction (Dupak - Waru) 3,000 4,000 5,000 6,000 7,500
Sistem Transaksi Tertutup/ Close System Transaction 4,000 5,000 8,000 10,000 12,000
10 Belmera 6,500 10,500 11,500 14,500 17,500
32. Pendapatan dan Beban Konstruksi 32. Construction Revenues and Expense
Pendapatan konstruksi merupakan jasa kompensasi yang diakui oleh Grup dalam pembangunan jalan tol baru dan peningkatan kapasitas jalan tol. Pendapatan konstruksi dinilai dengan menggunakan metode cost-plus, yang mana seluruh biaya yang dapat diatribusikan langsung sebagai nilai perolehan aset tambahan dengan marjin tertentu.
Construction revenue is the compensation of the service recognised by the Group for building new toll roads and to upgrade toll roads capacity. Construction revenue measured using cost-plus method, which specified margin ranging added up to all cost directly attributable to the acquiring cost of the assets.
2014 2013
Rp Rp
Pendapatan Konstruksi 1,945,824,811 3,960,538,543 Construction Revenues
Beban Konstruksi (1,921,067,434) (3,914,452,489) Construction Expenses
Pendapatan Konstruksi - Bersih 24,757,377 46,086,054 Profit from Construction - Net
33. Pendapatan Usaha Lainnya 33. Other Operating Revenues
2014 2013
Rp Rp
Penjualan Bahan Bakar Minyak 178,707,288 153,072,190 Fuel Sales
Sewa Lahan 104,360,355 90,060,436 Land Rent
Jasa Pengoperasian Jalan Tol Pihak Lain 100,599,915 32,405,824 Toll Road Operating Service
Pendapatan Iklan 6,313,541 6,721,041 Advertisement
Lainnya 193,120,549 225,937,332 Others
Jumlah 583,101,648 508,196,823 Total
34. Penghasilan Lain-lain 34. Others Income
2014 2013
Rp Rp
Penghasilan Bunga Deposito 258,560,991 223,817,722 Deposit Interest Income
Penghasilan Jasa Giro 6,937,089 5,313,797 Current Accounts Income
Keuntungan Penjualan Aset Tetap 342,264 2,886,399 Gains on Disposal of Fixed Assets
Lainnya 21,713,115 22,710,908 Others
Jumlah 287,553,459 254,728,826 Total
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 90 Paraf:
35. Beban Pengumpulan Tol 35. Toll Collection Expenses
Beban pengumpulan tol merupakan beban yang timbul dari kegiatan di gerbang tol.
Toll collection expenses represent expenses incurred in relation to activities at the toll gates.
2014 2013
Rp Rp
Gaji dan Tunjangan 725,979,752 593,809,291 Salaries and Allowance
Penyusutan dan Amortisasi 93,044,380 85,637,939 Depreciation and Amortization
Administrasi dan Perlengkapan Tol 71,291,956 63,632,925 Administration and Toll Supplies
Perbaikan dan Pemeliharaan 62,869,780 53,931,682 Repair and Maintenance
Bahan Bakar, Listrik dan Air 40,404,666 32,386,100 Fuel, Electricity,and Water
Sewa Kendaraan dan Peralatan Tol 26,443,701 20,851,538 Car Rental and Toll Equipment
Lainnya 62,568,531 22,453,332 Others
Jumlah 1,082,602,766 872,702,807 Total
36. Beban Pelayanan Pemakai Jalan Tol 36. Toll Road Service Expenses
2014 2013
Rp Rp
Harga Pokok Penjualan Bahan Bakar Minyak 173,856,413 147,935,120 Fuel Cost of Goods Sold
Gaji dan Tunjangan 159,249,539 125,785,251 Salaries and Allowance
Penyusutan dan Amortisasi 57,831,741 55,804,423 Depreciation and Amortization
Bahan Bakar, Listrik dan Air 55,866,728 49,730,195 Fuel, Electricity and Water
Pelayanan Pemakai Jalan Tol 37,146,089 32,506,719 Toll Road User Services
Perbaikan dan Pemeliharaan Aset Tetap 30,742,991 28,068,331 Repair and Maintenance
Sewa Kendaraan 19,962,532 16,232,015 Car Rental
Publikasi 5,172,155 5,199,164 Publications
Lainnya 16,891,862 20,478,705 Others
Jumlah 556,720,050 481,739,923 Total
Beban pelayanan pemakai jalan tol merupakan beban yang timbul karena kegiatan terkait dengan pelayanan jalan tol seperti patroli jalan tol, keperluan rescue, publikasi dan penyuluhan jalan tol.
Toll road service expenses represent expenses incurred in relation to toll road services such as toll patrol, rescue, publications and toll road information.
37. Beban Pemeliharaan Jalan Tol 37. Toll Road Maintenance Expenses
2014 2013
Rp Rp
Penyusutan dan Amortisasi 644,185,877 892,453,544 Depreciation and Amortization
Provisi Pelapisan Ulang 383,423,560 340,108,272 Provision for Overlay
Perbaikan dan Pemeliharaan 227,241,296 238,195,632 Repair and Maintenance
Gaji dan Tunjangan 58,515,212 55,681,739 Salaries and Allowance
Pembersihan Jalan dan Pertamanan 35,476,102 30,391,744 Cleaning and Gardening
Sewa Kendaraan 6,997,375 5,521,027 Car Rental
Bahan Bakar, Listrik dan Air 4,808,627 4,151,739 Fuel, Electricity and Water
Lainnya 3,889,689 2,321,292 Others
Jumlah 1,364,537,738 1,568,824,989 Total
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 91 Paraf:
38. Beban Kerjasama Operasi 38. Joint Operations Expenses
Beban Kerjasama Operasi merupakan selisih antara jumlah pendapatan tol yang menjadi bagian investor dengan pembayaran liabilitas kerjasama operasi tanpa kuasa penyelenggaraan, termasuk bagian bunga atas liabilitas kerjasama operasi dalam bentuk bagi pendapatan tol dengan jumlah minimum dan angsuran pasti. Beban kerjasama operasi dalam bentuk bagi hasil pendapatan tol merupakan beban kerjasama operasi dengan PT Bangun Tjipta Sarana, PT Adhika Prakarsatama dan PT Surya Cipta Swadaya.
Joint Operations Expenses represent the difference between the amount of toll revenues that are investors’ share over payments of liabilities under joint operation agreements without concession rights, including a share of interest charges on joint operation payable in the form of revenue sharing with minimum payments and fixed installment. Joint operations expenses in the form of toll revenue sharing represent joint operations expenses with PT Bangun Tjipta Sarana, PT Adhika Prakarsatama and PT Surya Cipta Swadaya.
39. Beban Umum dan Administrasi 39. General and Administrative Expenses
2014 2013
Rp Rp
Gaji dan Tunjangan 546,316,824 556,929,962 Salaries and Allowance
Pajak, Iuran dan Retribusi 276,210,111 210,139,464 Taxes, Contribution and Retribution
Administrasi Kantor dan Sumbangan 81,131,165 81,795,761 Office Administration and Donation
Perbaikan dan Pemeliharaan 49,160,510 47,304,403 Repair and Maintenance
Jasa Profesional 35,748,190 35,483,080 Professional Fees
Penyusutan dan Amortisasi 35,474,113 32,607,362 Depreciation and Amortization
Bahan Bakar, Listrik dan Air 25,261,023 21,274,005 Fuel, Electricity and Water
Transportasi dan Perjalanan Dinas 23,013,763 21,337,296 Transportation and Business Travel
Sewa 21,785,431 20,328,691 Rental
Publikasi 16,934,103 16,561,297 Publications
Biaya Pengamanan Aset 6,326,362 6,494,697 Security Assets Expenses
Lainnya 43,223,867 37,564,703 Others
Jumlah 1,160,585,462 1,087,820,721 Total
40. Beban Lain-lain 40. Other Expenses
2014 2013
Rp Rp
Kerugian Penjualan Aset Tetap 360,383 -- Loss on Disposal of Fixed Assets
Lainnya 19,922,807 33,494,919 Others
Jumlah 20,283,190 33,494,919 Total
Lainnya merupakan beban administrasi bank, provisi pinjaman, penghapusan piutang dan lainnya.
Others represent bank administration expenses, loan provision, receivable return off and other.
41. Biaya Keuangan 41. Finance Charges
2014 2013
Rp Rp
Utang Obligasi 624,633,784 619,819,599 Bonds
Utang Bank 590,686,471 298,442,330 Bank Loans
Utang Bantuan Pemerintah -- 25,957,261 Loan from Government
Jumlah 1,215,320,255 944,219,190 Total
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 92 Paraf:
42. Penggunaan Laba 42. Distribution of Income
Undang-undang (UU) No.1 Tahun 1995, tanggal 7 Maret 1995 yang telah diubah dengan UU No.40 Tahun 2007, tanggal 16 Agustus 2007 mengenai Perusahaan Terbatas mengharuskan perusahaan untuk membuat penyisihan cadangan sekurang-kurangnya 20% dari jumlah modal yang ditempatkan dan disetor penuh. UU tersebut tidak mengatur jangka waktu untuk penyisihan cadangan tersebut. Menindaklanjuti hal tersebut maka dengan memperhatikan Keputusan RUPS tanggal 29 April 2008 dan Keputusan Rapat Direksi No.51 tahun 2008 tanggal 9 Desember 2008, Perusahaan memutuskan membentuk Dana Cadangan Wajib sebesar Rp 25.000.000.000 (Rupiah penuh).
Law No.1 of 1995 dated March 7, 1995 as amended by Law No.40 Year 2007, dated August 16, 2007 regarding Limited Liability Company ("the Law") requires a company to provide reserves up to at least 20% of the issued and paid up capital. The Law does not require a time frame for the provision of such reserves. Based on decision of the General Meeting of Shareholders dated April 29, 2008 and decision of Directors Meeting No.51 Year 2008 dated December 9, 2008, the Company decided to provide Statutory Reserves amounted to Rp 25,000,000,000 (full Rupiah).
Berdasarkan Keputusan RUPS, penggunaan laba tahun-tahun buku 2013 dan 2012 sebagai berikut:
Based on the General Meeting of Shareholders, the following are distribution of profit of the year 2013 and 2012 as follows:
2013 2012
Rp Rp
Dividen 534,526,920 640,836,088 Dividend
Cadangan Umum 776,790,041 936,254,138 General Reserve
Cadangan Wajib 25,000,000 25,000,000 Obligatory Reserve
Jumlah 1,336,316,961 1,602,090,226 Total
43. Pihak-pihak Berelasi 43. Related Parties
Grup melakukan transaksi dengan pihak-pihak berelasi. Kebijakan Perusahaan mengatur bahwa penetapan harga atas transaksi tersebut sama dengan apabila Perusahaan melakukan transaksi dengan pihak ketiga. Berikut adalah transaksi dengan pihak-pihak berelasi yang material:
The Goup rentered into transactions with related parties. The Company's policy requires that the pricing of these transactions should be the same as if the Company entered into transactions with the third parties. Below are the material transactions with related parties:
Pihak Berelasi/ Hubungan/ Jenis Transaksi/
Related Parties Nature of Relationship Nature of Transactions
Pemerintah Republik Indonesia Hak Konsesi atas Ruang Tol, Utang Bantuan Pemerintah,
Kementerian Keuangan Dana Talangan Pembebasan Tanah dan Perpajakan/
Kementerian Badan Usaha Milik Negara Grantor of Toll Road Concession Rights, Loan from Government
Bail Out of Land Acquisition and Taxation
PT Bank Mandiri (Persero) Tbk Penempatan Giro, Deposito Berjangka, Investasi Jangka Pendek,
Dana yang Dibatasi Penggunaannya, Fasilitas Kredit Modal Kerja,
Fasilitas Kredit Sindikasi, Biaya Keuangan dan Pendapatan Bunga/
Placement of Current Accounts, Time Deposits, Short Term Investments,
Appropriated Funds, Working Capital Credit Facility, Syndicated
Loans Facility, Finance Charges and Interest Income
PT Bank Rakyat Indonesia (Persero) Tbk Penempatan Giro, Deposito Berjangka, Fasilitas Kredit Investasi,
Fasilitas Kredit Sindikasi, Bank untuk Pengumpulan Tol, Biaya Keuangan
dan Pendapatan Bunga/
Placement of Current Accounts, Time Deposits,
Investment Credit Facility, Syndicated Loans Facility, Bank for Toll
Collection, Finance Charges and Interest Income
PT Bank Negara Indonesia (Persero) Tbk Penempatan Giro, Deposito Berjangka, Fasilitas Kredit Investasi,
Fasilitas Kredit Sindikasi, Bank untuk Pengumpulan Tol, Biaya Keuangan
dan Pendapatan Bunga/
Placement of Current Accounts, Time Deposits,
Investment Credit Facility, Syndicated Loans Facility, Bank for Toll
Collection, Finance Charges and Interest Income
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Controlled by Central Government of the
Republic of Indonesia
Controlled by Central Government of the
Republic of Indonesia
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 93 Paraf:
Pihak Berelasi/ Hubungan/ Jenis Transaksi/
Related Parties Nature of Relationship Nature of Transactions
Kredit Sindikasi, Biaya Keuangan dan Pendapatan Bunga/
Placement of Current Accounts, Time Deposits, Investment Credit
Facility, Syndicated Loans Facility, Finance Charges and Interest Income
PT Wijaya Karya (Persero) Tbk Kontraktor dalam Pembangunan dan Pemeliharaan Aset Tetap dan Jalan/
Tol/ Contractor for Construction and Maintenance of Fixed Assets and
Toll Roads
PT Istaka Karya (Persero) Kontraktor dalam Pembanguna dan Pemeliharaan Aset Tetap dan Jalan Tol/
Contractor for Construction and Maintenance of Property and Equipment
and Toll Roads
PT Waskita Karya (Persero) Tbk Kontraktor dalam Pembangunan dan Pemeliharaan Aset Tetap dan Jalan/
Tol/ Contractor for Construction and Maintenance of Fixed Assets and
Toll Roads
PT Adhi Karya (Persero) Tbk Kontraktor dalam Pembangunan dan Pemeliharaan Aset Tetap dan Jalan/
Tol/ Contractor for Construction and Maintenance of Fixed Assets and
Toll Roads
PT Pembangunan Perumahan (Persero) Tbk Kontraktor dalam Pembangunan dan Pemeliharaan Aset Tetap dan Jalan Tol/
Contractor for Construction and Maintenance of Fixed Assets and Toll
Roads
Badan Penyelenggara Jaminan Sosial Beban Asuransi Jiwa Pensiunan Karyawan/
Life Insurance Expenses for Pension Employees
PT Pertamina (Persero) Pendapatan Kerjasama Bagi Hasil SPBU, Beban Bahan Bakar Minyak
Sebagai Pemasok Persediaan Bahan Bakar Tempat Istirahat/ Revenue from
Profit Sharing of SPBU, Engine Fuel Expenses as Supplier of Rest Area's
Fuel Inventory
PT Perusahaan Listrik Negara (Persero) Beban Listrik Peralatan Tol dan Gedung/
Electricity for Toll Equipment and Buildings
Koperasi Jasa Marga Bhakti Pembelian Aset dan Perlengkapan, Beban Outsourcing Pegawai, Sewa
Kendaraan dan Peralatan Tol/
Yayasan Dana Pensiun Jasa Marga Penempatan Dana Imbalan Kerja Karyawan/
Placement of Employee Benefit Funds
PT Citra Bhakti Margatama Persada Entitas Asosiasi/ Associated Company Investasi pada Perusahaan Asosiasi/ Investments in Associated Company
PT Citra Ganesha Marga Nusantara Entitas Asosiasi/ Associated Company Investasi pada Perusahaan Asosiasi/ Investments in Associated Company
PT Ismawa Trimitra Entitas Asosiasi/ Associated Company Investasi pada Perusahaan Asosiasi/ Investments in Associated Company
PT Bukaka Marga Utama Entitas Asosiasi/ Associated Company Investasi pada Perusahaan Asosiasi/ Investments in Associated Company
PT Trans Lingkar Kita Jaya Entitas Asosiasi/ Associated Company Investasi pada Perusahaan Asosiasi/ Investments in Associated Company
Controlled by Central Government of the
Republic of Indonesia
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Purchase of Property and Equipment, Outsourcing Expenses, Vehicles and
Toll Equipment Lease
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
Dikendalikan oleh Pemerintah Pusat
Republik Indonesia/
Controlled by Central Government of the
Republic of Indonesia
a. Pemerintah a. Government
Grup memiliki Perjanjian Pengusahaan Jalan Tol (PPJT) dengan Badan Layanan Umum-Badan Pengatur Jalan Tol (BLU-BPJT) mengenai penggunaan fasilitas pinjaman dana untuk pengadaan tanah dalam rangka
The Group has a Toll Road Concession Agreements (PPJT) with the General Services Agency-Toll Road Regulatory Agency (BLU-BPJT), regarding the use of funds loan facilities for land acquisition designated for the
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 94 Paraf:
pembangunan jalan tol baru. Ketika PPJT dialihkan dari Entitas Induk ke Entitas Anak, Utang BLU secara otomatis menjadi milik Entitas Anak. Total transaksi per 31 Desember 2014 adalah masing-masing sebesar Rp 2.869.942.352 (Rupiah penuh), Rp 1.678.872.989 (Rupiah penuh).
development of new toll roads. When PPJT is transferred from the Parent Company to its Subsidiaries, these BLU Payables automatically belonged to the Subsidiaries. Total transactions as of December 31, 2014 amounting to Rp 2,869,942,352 (full Rupiah), and Rp 1,678,872,989 (full Rupiah), respectively.
2014 2013
Rp Rp
PT Marga Kunciran Cengkareng 764,848,936 125,389,087
PT Marga Trans Nusantara 645,432,549 243,497,728
PT Marga Lingkar Jakarta 443,482,173 498,023,311
PT Marga Nujyasumo Agung 334,871,795 331,774,459
PT Trans Marga Jateng 317,993,278 153,298,369
PT Transmarga Jatim Pasuruan 165,705,060 108,134,817
PT Jasa Marga (Persero) Tbk (Induk/ Parent) 109,008,350 109,008,350
PT Jasamarga Pandaan Tol 88,600,211 88,595,538
PT Marga Sarana Jabar -- 21,151,330
Jumlah/ Total 2,869,942,352 1,678,872,989
Grup melakukan transaksi atas pekerjaan pelapisan ulang aset takberwujud jalan tol untuk memenuhi persyaratan Standar Pelayanan Minimum yang ditetapkan oleh Badan Pengatur Jalan Tol (BPJT). Pekerjaan pelapisan ulang diserahkan kepada kontraktor BUMN maupun kontraktor swasta. Total pekerjaan pelapisan ulang atas transaksi dengan pihak berelasi masing-masing per 31 Desember 2014 dan 31 Desember 2013 adalah sebagai berikut:
The Group entered into toll roads overlay transactions for its intangible assets in fulfilling the minimum level of services (Standar Pelayanan Minimum – SPM) decided by the Indonesian Toll Road Authority (Badan Pengatur Jalan Tol – BPJT). The work of overlay submitted to both the BUMN and private contractors. Total of the work of overlay transaction with related parties on December 31, 2014 and December 31, 2013 are as follows:
2014 2013
Rp Rp
PT Adhi Karya (Persero) Tbk 32,412,194 27,543,808
Dalam kegiatan usahanya, Grup melakukan transaksi dengan pihak-pihak berelasi yang dilakukan dengan syarat-syarat dan kondisi normal, termasuk pembayaran oleh Grup atas beban-beban pihak-pihak berelasi atau sebaliknya. Saldo transaksi dengan pihak berelasi per 31 Desember 2014 dan 31 Desember 2013, sebagal berikut:
In the normal course of business, the Group entered into certain transactions with the related parties conducted by normal terms and conditions. These transactions include payments made by the Group to the related parties or vice versa. Ending balance of related parties transactions as of December 31, 2014, and December 31, 2013 are as follows:
2014 2013 2014 2013
Rp Rp % %
Aset/ Assets
Kas dan Setara Kas/ Cash and Cash Equivalents
Bank/ Cash in Banks
Rupiah
PT Bank Mandiri (Persero) Tbk 115,453,821 146,093,198 0.36% 0.52%
PT Bank Rakyat Indonesia (Persero) Tbk 96,051,771 103,195,062 0.30% 0.37%
PT Bank Negara Indonesia (Persero) Tbk 18,304,829 11,741,073 0.06% 0.04%
PT Bank Tabungan Negara (Persero) Tbk 3,629,160 1,818,898 0.01% 0.01%
Sub Jumlah/ Sub Total 233,439,581 262,848,231 0.73% 0.94%
Persentase dari Total Aset/
Percentage from Total Assets
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 95 Paraf:
2014 2013 2014 2013
Rp Rp % %
Persentase dari Total Aset/
Percentage from Total Assets
Dolar Amerika Serikat/ United States Dollar
PT Bank Mandiri (Persero) Tbk 1,116,701 922,812 0.00% 0.00%
Sub Jumlah/ Sub Total 1,116,701 922,812 0.00% 0.00%
Deposito Berjangka/ Time Deposits
Rupiah
PT Bank Rakyat Indonesia (Persero) Tbk 913,600,000 1,160,300,000 2.87% 4.14%
PT Bank Mandiri (Persero) Tbk 661,886,000 184,250,000 2.08% 0.66%
PT Bank Tabungan Negara (Persero) Tbk 246,250,000 552,252,514 0.77% 1.97%
PT Bank Negara Indonesia (Persero) Tbk 100,600,000 140,000,000 0.32% 0.50%
Sub Jumlah/ Sub Total 1,922,336,000 2,036,802,514 6.03% 7.26%
Dolar Amerika Serikat/ United States Dollar
PT Bank Rakyat Indonesia (Persero) Tbk 13,684,000 13,407,900 0.04% 0.05%
Sub Jumlah/ Sub Total 13,684,000 13,407,900 0.04% 0.05%
Jumlah Kas dan Setara Kas/
Total Cash and Cash Equivalents 2,170,576,282 2,313,981,457 6.81% 8.25%
Piutang Lain-lain/ Other Receivables
Lancar/ Current
PT Wijaya Karya (Persero) Tbk 182,609 5,039,047 0.00% 0.02%
PT Istaka Karya (Persero) 133,907 133,907 0.00% 0.00%
PT Waskita Karya (Persero) Tbk 72,049 699,284 0.00% 0.00%
PT Adhi Karya (Persero) Tbk 64,208 3,236,616 0.00% 0.01%
Klinik Mobil 61,088 -- 0.00% 0.00%
PT Translingkar Kita Jaya -- 1,105,764 0.00% 0.00%
INKOPKAR JAGA -- 638,750 0.00% 0.00%
PT Bank Mandiri (Persero) Tbk -- 63,558 0.00% 0.00%
Lain-lain/ Others 11,518,183 82,088 0.04% 0.00%
Sub Jumlah/ Sub Total 12,032,044 10,999,014 0.04% 0.04%
Jumlah Piutang Lain-lain/
Total Other Receivables 12,032,044 10,999,014 0.04% 0.00%
Dana Ditetapkan Penggunaannya/ Appropriated Funds
Jaminan Pelaksanaan/ Performance Bond
PT Bank Mandiri (Persero) Tbk 16,350,000 42,776 0.05% 0.00%
PT Bank Negara Indonesia (Persero) Tbk -- 19,863,287 0.00% 0.07%
PT Bank Tabungan Negara (Persero) -- 7,750,000 0.00% 0.03%
Sub Jumlah/ Sub Total 16,350,000 27,656,063 0.05% 0.10%
Jaminan Pembebasan Tanah/ Land Acquisition Guarantees
PT Bank Rakyat Indonesia (Persero), Tbk 14,100,000 -- 0.04% 0.00%
PT Bank Mandiri (Persero) Tbk 7,530,940 6,496,257 0.02% 0.02%
Sub Jumlah/ Sub Total 21,630,940 6,496,257 0.07% 0.02%
Jaminan Sindikasi Bank/ Syndicated Bank Guarantee
PT Bank Mandiri (Persero) Tbk 92,699,009 22,189,544 0.29% 0.08%
PT Bank Negara Indonesia (Persero) Tbk 19,340,834 87,821,547 0.06% 0.31%
PT Bank Rakyat Indonesia (Persero) Tbk 18,627,875 4,021 0.06% 0.00%
Sub Jumlah/ Sub Total 130,667,718 110,015,112 0.41% 0.39%
Jumlah Dana Ditetapkan Penggunaannya/
Total Appropriated Funds 168,648,658 144,167,432 0.53% 0.51%
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 96 Paraf:
2014 2013 2014 2013
Rp Rp % %
Liabilitas/ Liabilities
Utang Bank/ Bank Loans
Utang Jangka Pendek/ Short Term Loans
PT Bank Rakyat Indonesia (Persero) Tbk 24,737,997 28,493,565 0.12% 0.16%
PT Bank Mandiri (Persero) Tbk 11,247,894 262,966,718 0.06% 1.50%
PT Bank Negara Indonesia (Persero) Tbk 5,253,451 1,512,000 0.03% 0.01%
PT Bank Tabungan Negara (Persero) Tbk 359,937 -- 0.00% 0.00%
Sub Jumlah/ Sub Total 41,599,279 292,972,283 0.20% 1.67%
Utang Jangka Panjang/ Long Term Loans
PT Bank Mandiri (Persero) Tbk 2,547,473,133 2,054,399,848 12.47% 11.74%
PT Bank Negara Indonesia (Persero) Tbk 1,626,727,819 1,404,703,029 7.96% 8.03%
PT Bank Rakyat Indonesia (Persero) Tbk 1,283,973,781 1,111,180,323 6.28% 6.35%
PT Bank Tabungan Negara (Persero) Tbk 71,627,438 62,425,659 0.35% 0.36%
Sub Jumlah/ Sub Total 5,529,802,171 4,632,708,859 27.06% 26.47%
Jumlah Utang Bank/
Total Bank Loans 5,571,401,450 4,925,681,142 27.27% 20.25%
Utang Usaha/ Accounts Payable
Koperasi Jasa Marga Bhakti 1,949,473 3,744,354 0.01% 0.02%
PT Bank Rakyat Indonesia (Persero) Tbk 3,153,882 1,199,298 0.02% 0.01%
Karyawan/ Employees 258,334 211,168 0.00% 0.00%
PT Bank Mandiri (Persero) Tbk 26,466 -- 0.00% 0.00%
PT Asuransi Jiwasraya (Persero) 846 -- 0.00% 0.00%
PT Pertamina Retail -- 1,531,348 0.00% 0.01%
PT Asuransi Umum Bumiputera Muda 1967 -- 666,117 0.00% 0.00%
Dana Pensiun Jasa Marga -- 638,336 0.00% 0.00%
Jumlah Utang Usaha/
Total Accounts Payable 5,389,001 7,990,621 0.03% 0.04%
Utang Kontraktor/ Contractors Payable
PT Waskita Karya (Persero) Tbk 258,552,200 366,580,413 1.27% 2.09%
PT Adhi Karya (Persero) Tbk 201,309,998 185,691,627 0.99% 1.06%
PT Wijaya Karya (Persero) Tbk 184,627,030 254,241,823 0.90% 1.45%
KSO Wika - Adhi - Hutama/ JO 57,336,834 134,564,614 0.28% 0.77%
PT Pembangunan Perumahan (Persero) Tbk 32,214,073 51,753,257 0.16% 0.30%
PT Istaka Karya (Persero) 12,581,649 12,581,649 0.06% 0.07%
PT Hutama Karya (Persero) 4,535,077 8,408,898 0.02% 0.05%
PT Yodya Karya (Persero) 2,939,804 3,245,248 0.01% 0.02%
Lain - lain (dibawah Rp 2 Milyar)/ Others (below Rp 2 Billion) 658,693 1,751,942 0.00% 0.01%
Jumlah Utang Kontraktor/
Total Contractors Payable 754,755,358 1,018,819,471 3.69% 5.82%
Beban Akrual/ Accrued Expenses
PT Bank Mandiri (Persero) Tbk -- 2,979,167 0.00% 0.02%
Jumlah Beban Akrual/
Total Accrued Expenses -- 2,979,167 0.00% 0.02%
Percentage from Total Liabilities
Persentase dari Total Liabilitas/
b. Remunerasi Komisaris dan Direksi b. Remuneration of Commissioners and Directors (i). Jumlah remunerasi yang diterima Dewan Komisaris
untuk tahun-tahun yang berakhir pada 31 Desember 2014 dan 31 Desember 2013 masing-
(i) Total remuneration received by the Board of Commissioners for the years ended on December 31, 2014 and December 31, 2013 amounting to
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 97 Paraf:
masing sebesar Rp 9.518.926.471 (Rupiah penuh) dan Rp 9.290.470.585 (Rupiah penuh).
Rp 9,518,926,471 (full Rupiah) and Rp 9,290,470,585 (full Rupiah), respectively.
(ii) Jumlah remunerasi yang diterima Dewan Direksi
untuk tahun-tahun yang berakhir pada 31 Desember 2014 dan 31 Desember 2013 masing-masing sebesar Rp 21.105.824.618 (Rupiah penuh) dan Rp 16.322.731.648 (Rupiah penuh).
(ii) Total remuneration received by the Board of Directors for the years ended on December 31, 2014 and December 31, 2013 amounting to Rp 21,105,824,618 (full Rupiah) and Rp 16,322,731,648 (full Rupiah), respectively.
44. Perjanjian dan Perikatan Penting 44. Significant Agreement and Commitment
a. Perjanjian Pengusahaan Jalan Tol (PPJT) a. Concession Agreements
(i) Perusahaan telah memperoleh penetapan hak pengusahaan jalan tol (Hak Konsesi) yang diterbitkan oleh Pemerintah meliputi 13 (tiga belas) ruas jalan tol berdasarkan Keputusan Menteri Pekerjaan Umum No. 242/KPTS/M/2006, tanggal 8 Juni 2006 yang kemudian ditindaklanjuti dengan penandatanganan Perjanjian Pengusahaan Jalan Tol (PPJT) pada tanggal 7 Juli 2006 untuk masing-masing ruas jalan tol, dengan masa konsesi selama 40 (empat puluh) tahun, yang berlaku efektif sejak tanggal 1 Januari 2005 sampai dengan 31 Desember 2045, dengan rincian sebagai berikut:
(i) The Company has acquired the right of toll road concession (Concession Right) issued by the Government, which consists of 13 (thirteen) toll roads, in accordance with Minister of Public Works Decree No. 242/KPTS/M/2006, dated June 8, 2006, followed by the signing of the Toll Road Concession Agreement (PPJT) for each toll road dated July 7, 2006 with concession period of 40 (forty) years, effective commenced as of January 1, 2005 until December 31, 2045 with details as follows:
1. Ruas Jakarta - Bogor - Ciawi, berdasarkan PPJT No. 246/PPJT/VII/Mn/2006;
1. Jakarta – Bogor – Ciawi Toll Road, according to PPJT No. 246/PPJT/VII/Mn/2006;
2. Ruas Jakarta - Tangerang, berdasarkan PPJT No. 247/PPJT/VII/Mn/2006;
2. Jakarta – Tangerang Toll Road, according to PPJT No. 247/PPJT/VII/Mn/2006;
3. Ruas Surabaya - Gempol, berdasarkan PPJT No. 248/PPJT/VII/Mn/2006;
3. Surabaya – Gempol Toll Road, according to PPJT No. 248/PPJT/VII/Mn/2006;
4. Ruas Jakarta - Cikampek, berdasarkan PPJT No. 249/PPJT/VII/Mn/2006;
4. Jakarta – Cikampek Toll Road, according to PPJT No. 249/PPJT/VII/Mn/2006;
5. Ruas Padalarang - Cileunyi, berdasarkan PPJT No. 250/PPJT/VII/Mn/2006;
5. Padalarang – Cileunyi Toll Road, according to PPJT No. 250/PPJT/VII/Mn/2006;
6. Ruas Prof. Dr. Ir. Sedyatmo, berdasarkan PPJT No. 251/PPJT/VII/Mn/2006;
6. Prof. Dr. Ir. Sedyatmo Toll Road, according to PPJT No. 251/PPJT/VII/Mn/2006;
7. Ruas Cawang - Tomang - Pluit, berdasarkan PPJT No. 252/PPJT/VII/Mn/2006;
7. Cawang - Tomang – Pluit Toll Road, according to PPJT No. 252/PPJT/VII/Mn/2006;
8. Ruas Belawan - Medan - Tanjung Morawa, PPJT No. 253/PPJT/VII/Mn/2006;
8. Belawan - Medan - Tanjung Morawa Toll Road, according to PPJT No. 253/PPJT/VII/Mn/2006;
9. Ruas Semarang Seksi A, B, C, berdasarkan PPJT No. 254/PPJT/VII/Mn/2006;
9. Semarang Toll Road, Sections A, B, C according to PPJT No. 254/PPJT/VII/Mn/2006;
10. Ruas Pondok Aren - Bintaro Viaduct - Ulujami, berdasarkan PPJT No. 255/PPJT/VII/Mn/2006;
10. Pondok Aren - Bintaro Viaduct – Ulujami Toll Road, according to PPJT No. 255/PPJT/VII/Mn/2006;
11. Ruas Palimanan - Kanci, berdasarkan PPJT No. 256/PPJT/VII/Mn/2006;
11. Palimanan – Kanci Toll Road, according to PPJT No. 256/PPJT/VII/Mn/2006;
12. Ruas Lingkar Luar Jakarta (JORR) Ruas E1, E2, E3, W2, berdasarkan PPJT No.257/PPJT/VII/Mn/2006; dan
12. Jakarta Outer Ring Road Toll Road, Sections E1, E2, E3, W2, according to PPJT No. 257/PPJT/VII/Mn/2006; and
13. Ruas Cikampek - Padalarang, berdasarkan PPJT No. 258/PPJT/VII/Mn/2006.
13. Cikampek – Padalarang Toll Road, according to PPJT No. 258/PPJT/VII/Mn/2006.
Sehubungan dengan perolehan Hak Konsesi dimaksud, Perusahaan diwajibkan membentuk jaminan pemeliharaan dengan nilai sekurang-kurangnya 10%
With regard to the above Concession Rights, the Company is required to establish a maintenance guarantee with a value in the amount of not less than 10% (ten percent)
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 98 Paraf:
(sepuluh persen) dari realisasi pendapatan tol dan pendapatan usaha lain yang diterima pada atau sebelum tahun terakhir masa konsesi dimana besarannya didasarkan pada laporan keuangan tahunan terakhir yang tersedia dan telah diaudit. Jaminan pemeliharaan tersebut diserahkan kepada Pemerintah melalui Badan Pengelola Jalan Tol (BPJT) dalam waktu 6 (enam) bulan sebelum masa konsesi berakhir dan jaminan pemeliharaan ini tetap berlaku sampai dengan 12 (dua belas) bulan setelah berakhirnya masa konsesi.
from the actual toll revenue and revenue obtained from other businesses on or before the last year of the concession period whereby such amount is calculated based on the latest audited annual financial statements. The aforementioned maintenance guarantee shall be given to the Government through Indonesian Toll Road Authority (BPJT) within 6 (six) months before the expiration of concession period and shall prevail for the successive 12 (twelve) months from the expiration of concession period.
(ii) Perjanjian Investasi Jalan Tol (ii) Toll Road Investment Agreements 1. Ruas Bogor Outer Ring Road 1. Bogor Outer Ring Road
Perusahaan dan PT Jasa Sarana telah menandatangani Akta Kerjasama Pendanaan dan Investasi Pengusahaan Jalan Tol Ruas Lingkar Luar No. 10, tanggal 3 Oktober 2006, dari Notaris Agus Madjid, SH, dan Perjanjian Usaha Patungan No. 9, tanggal 11 Mei 2007, dari Notaris Iwan Ridwan, SH, untuk melaksanakan pengusahaan jalan tol yang meliputi pendanaan, perencanaan teknik, pelaksanaan konstruksi, pengoperasian dan pemeliharaan jalan tol, serta usaha-usaha lainnya yang terkait. Perjanjian Usaha Patungan tersebut berlaku sejak tanggal penandatanganan perjanjian sampai dengan akhir masa konsesi sesuai PPJT (lihat Catatan 1.b).
The Company and PT Jasa Sarana have signed Deed of Financing and Investment of Toll Road Concession Cooperation of Bogor Outer Ring Road No. 10, dated October 3, 2006, from Notary Agus Madjid, SH, and Deed of Joint Venture Agreement No. 9, dated May 11, 2007, from Notary Iwan Ridwan, SH, in order to implement the toll road concession, which consists of financing, technical plan, construction, operation and maintenance of the toll road, as well as other related businesses. Such Joint Venture Agreement is effective as of the date of signing until the expiration date of concession period in accordance with the PPJT (see Note 1.b).
2. Ruas Gempol – Pasuruan 2. Gempol – Pasuruan Toll Road Perusahaan dan PT Jatim Marga Utama telah menandatangani Akta Kerjasama Pendanaan dan Investasi Pengusahaan Jalan Tol Gempol - Pasuruan No.11, tanggal 3 Oktober 2006, dari Notaris Agus Madjid, SH, dan Akta Perjanjian Usaha Patungan No. 28, tanggal 8 Mei 2007 dari Notaris Retno Suharti, SH, untuk melaksanakan pengusahaan jalan tol yang meliputi pendanaan, perencanaan teknik, pelaksanaan konstruksi, pengoperasian dan pemeliharaan jalan tol, serta usaha-usaha lainnya yang terkait. Perjanjian Usaha Patungan tersebut berlaku sejak tanggal penandatanganan perjanjian sampai dengan akhir masa konsesi sesuai PPJT.
The Company and PT Jatim Marga Utama have signed Deed of Financing and Investment of Toll Road Concession Cooperation of Gempol - Pasuruan No. 11, dated October 3, 2006, from Notary Agus Madjid, SH, and Deed of Joint Venture Agreement No. 28, dated May 8, 2007, from Notary Retno Suharti, SH, in order to implement the toll road concession, which consists of financing, technical plan, construction, operation and maintenance of the toll road, as well as other related businesses. Such Joint Venture Agreement is effective as of the date of signing until the expiration date of concession period in accordance with the PPJT.
3. Ruas Semarang - Solo 3. Semarang - Solo Toll Road Perusahaan dan PT Sarana Pembangunan Jawa Tengah telah menandatangani Akta Perjanjian Usaha Patungan No. 35, tanggal 8 Juni 2007, dari Notaris Prof. Dr. Liliana Tedjosaputro, SH, MH, untuk melaksanakan pengusahaan jalan tol yang meliputi pendanaan, perencanaan teknik, pelaksanaan konstruksi, pengoperasian dan pemeliharaan jalan tol, serta usaha-usaha lainnya yang terkait. Perjanjian Usaha Patungan tersebut berlaku sejak tanggal penandatanganan perjanjian sampai dengan akhir masa konsesi sesuai PPJT (lihat Catatan 1.b).
The Company and PT Sarana Pembangunan Jawa Tengah have signed Deed of Joint Venture Agreement No. 35, dated June 8, 2007, from Notary Prof. Dr. Liliana Tedjosaputro, SH, MH, in order to implement the toll road concession which consists of financing, technical plan, construction, operation and maintenance of the toll road, as well as other related businesses. Such Joint Venture Agreement is effective as of the date of signing until the expiration date of concession period in accordance with the PPJT (see Note 1.b).
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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4. Ruas Cengkareng - Kunciran 4. Cengkareng – Kunciran Toll Road Perusahaan telah menandatangani Akta Perjanjian Konsorsium No. 03/CMS/PKK-XII/05 berdasarkan Akta No. 53, tanggal 21 Mei 2007 dari Notaris Ny. Poerbaningsih Adi Warsito, SH. Notaris Konsorsium tersebut terdiri dari (i) Perusahaan; (ii) CMS Works International Limited, Malaysia; (iii) PT Wijaya Karya (Persero); (iv) PT Nindya Karya (Persero); dan (v) PT Istaka Karya (Persero) untuk membangun ruas tol Cengkareng – Kunciran. Proporsi Perusahaan dalam penyertaan saham di konsorsium tersebut sebesar 20% (dua puluh persen).
The Company has entered into the Consortium Agreement No. 03/CMS/PKK-XII/05 as set forth in Deed No. 53, dated May 21, 2007 from Notary Mrs. Poerbaningsih Adi Warsito, SH Notary The Consortium consists of (i) the Company; (ii) CMS Works International Limited, Malaysia; (iii) PT Wijaya Karya (Persero); (iv) PT Nindya Karya (Persero); and (v) PT Istaka Karya (Persero) to build Cengkareng – Kunciran Toll Road Segment. The Company’s shares proportion in such Consortium is 20% (twenty percent).
Berdasarkan Adendum Perjanjian Konsorsium No. 03/CMS/PKK-XII/05 dengan Akta No. 52, tanggal 21 Mei 2007 dari Notaris Ny. Poerbaningsih Adi Warsito, SH., proporsi Perusahaan dalam penyertaan saham di konsorsium tersebut mengalami perubahan menjadi 55% (lima puluh lima persen).
According to Amendment of Consortium Agreement No. 03/CMS/PKK-XII/05 as set forth in Deed No. 52, dated May 21, 2007 from Notary Ny. Poerbaningsih Adi Warsito, SH. The Company’s shares proportion in such Consortium is increased to 55% (fifty five percent).
Berdasarkan Akta Pendirian No. 7, tanggal 14 Mei 2008, dari Notaris Suzy Anggraini Muharam, SH, telah didirikan PT Marga Kunciran Cengkareng, sehubungan dengan proyek Jalan Tol Kunciran – Cengkareng.
According to Deed of Establishment No. 7, dated May 14, 2008, from Notary Suzy Anggraini Muharam, SH, Notary in Jakrta, PT Marga Kunciran Cengkareng was established in relation to the Kunciran – Cengkareng Toll Road project.
Berdasarkan Akta Pendirian No. 7, tanggal 14 Mei 2008, dari Notaris Suzy Anggraini Muharam, SH, telah didirikan PT Marga Kunciran Cengkareng, sehubungan dengan proyek Jalan Tol Kunciran Cengkareng.
According to Deed of Establishment No. 7, dated May 14, 2008, from Notary Suzy Anggraini Muharam, SH, Notary in Jakrta, PT Marga Kunciran Cengkareng was established in relation to the Kunciran – Cengkareng Toll Road project.
Berdasarkan Akta No. 22 tanggal 13 Desember 2010, Akta No. 23 tanggal 13 Desember 2010, Akta No. 32 tanggal 15 Desember 2010, Akta No. 37 tanggal 16 Desember 2010, yang seluruhnya dari Notaris Dra. Ayu Tiara Siregar, SH. Notaris di Tangerang, perihal Jual Beli Saham antara Perusahaan dengan PT Istaka Karya (Persero), PT Nindya Karya (Persero), PT Wijaya Karya (Persero) Tbk, dan CMS Works International Limited (CMS WIL), dan Akta Pernyataan Keputusan Rapat Para Pemegang Saham PT Marga Kunciran Cengkareng No. 40 tanggal 17 Desember 2010, proporsi Perusahaan dalam penyertaan saham atas PT Marga Kunciran Cengkareng berubah menjadi 75% (tujuh puluh lima persen).
According to Deed No. 22 dated December 13, 2010, Deed No. 23 dated December 13, 2010, Deed No. 32 dated December 15, 2010, Deed No. 37 dated December 16, 2010, all of which from Notary Dra. Ayu Tiara Siregar, SH, Notary in Tangerang, concerning Sale and Purchase of Shares between PT Istaka Karya (Persero), PT Nindya Karya (Persero), PT Wijaya Karya (Persero) Tbk, and CMS Works International Limited (CMS WIL), and Deed of Statement of Resolution of General Meeting of Shareholders of PT Marga Kunciran Cengkareng No. 40 dated December 17, 2010, The Company’s shares proportion in PT Marga Kunciran Cengkareng is increased to 75% (seventy five percent).
5. Ruas Kunciran – Serpong 5. Kunciran – Serpong Toll Road
Perusahaan telah menandatangani Akta Perjanjian Konsorsium No. 60 tanggal 22 Mei 2007, dari Notaris Benny Kristianto, SH, Notaris di Jakarta. Konsorsium tersebut terdiri dari (i) Perusahaan; (ii) PT Astratel Nusantara; (iii) PT Leighton Contractors Indonesia; dan (iv) PT Transutama Arya Sejahtera untuk
The Company has signed Deed of Consortium Agreement No. 60 dated May 22, 2007 from Notary Benny Kristianto, SH. The Consortium consists of (i) the Company; (ii) PT Astratel Nusantara; (iii) PT Leighton Contractors Indonesia; and (iv) PT Transutama Arya Sejahtera to build Kunciran –
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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membangun ruas tol Kunciran – Serpong. Proporsi Perusahaan dalam penyertaan saham di konsorsium tersebut sebesar 10% (sepuluh persen).
Serpong Toll Road. The Company’s shares proportion in such Consortium is 10% (ten percent).
Perjanjian Para Pendiri Konsorsium dengan Akta No. 24, tanggal 22 Mei 2007 dari Notaris Benny Kristianto, SH. antara lain menyebutkan bahwa porsi kepemilikan Perusahaan dalam konsorsium tersebut berubah menjadi 60% (enam puluh persen). Dimana para pihak setuju untuk merealisasikan porsi kepemilikan final sesegera mungkin dengan ketentuan yang ada. Para pihak mengindikasikan bahwa realisasi tersebut akan diusahakan untuk diberlakukan segera setelah konsorsium dinyatakan sebagai pemenang proyek dan sebelum pembentukan Perusahaan.
According to the Deed of Consortium Founder Agreement No. 24 dated May, 22, 2007 from Notary Benny Kristianto, SH. The Company’s shares proportion in the Consortium is increased to 60% (sixty percent) whereby the parties agreed to promptly finalize the realization of such shares proportion in accordance with the prevailing terms and conditions. The Parties indicated that such realization shall be made effective upon Consortium being awarded the bid for the project and prior to the establishment of the Toll Road Company.
Pada tanggal 14 Mei 2008 berdiri perusahaan konsorsium PT Marga Trans Nusantara berdasarkan Akta No. 8 dari Notaris Suzy Anggraini Muharam, SH, sehubungan dengan proyek Jalan Tol Kunciran-Serpong.
Based on the Deed of Establishment No. 8, dated May 14, 2008, from Notary Suzy Anggraini Muharam, SH, PT Marga Trans Nusantara was established in relation to the Kunciran - Serpong Toll Road project.
6. Ruas JORR Seksi W2 Utara 6. JORR Toll Road, Section W2 North
Pada tanggal 2 April 2007, Perusahaan bersama-sama dengan PT Jakarta Propertindo telah menandatangani Perjanjian Pendahuluan tentang Rencana Kerjasama Pengusahaan Jalan Tol JORR W2 Utara. Pada tanggal 24 Agustus 2009 berdiri Perusahaan konsorsium PT Marga Lingkar Jakarta berdasarkan Akta No.26 dari Notaris Edi Priyono, SH. dan telah disahkan oleh Menteri Kehakiman Republik Indonesia No. C-98-HT.03.02-Th 2002. Porsi Perusahaan dalam penyertaan saham dalam konsorsium tersebut sebesar 65% (enam puluh lima persen).
On April 2, 2007, the Company and PT Jakarta Propertindo have signed the Preliminary Agreement concerning Cooperation Plan of Toll Road Concession of North Jakarta Outer Ring Road Section W2. Furthermore, by Deed No. 26 dated August 24, 2009 of notary Edi Priyono, SH, the Consortium Party has incorporated PT Marga Lingkar Jakarta which has been legalized with Minister of Law and Human Rights Decree No. C-98-HT.03.02-Th 2002. The shares proportion of the Company in such Consortium has been defined in the amount of 65% (sixty five percent).
b. Perjanjian Fasilitas Kredit Investasi b. Investment Credit Facility Agreements
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk Pada tanggal 7 Maret 2007, Perusahaan memperoleh fasilitas kredit investasi dari PT Bank Mandiri (Persero) Tbk dengan jumlah seluruhnya sebesar Rp 2.881.802.800.000 (Rupiah penuh) terdiri dari: (I) Perjanjian Kredit Investasi No. KP.COD/PK.KI/006/2007 sebesar Rp 1.879.184.000.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Semarang - Solo. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate (ii) Perjanjian Kredit Investasi No. KP.COD/PK.K1/007/2007 sebesar Rp 450.682.000.000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Bogor Outer Ring Road. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate dan (iii) Perjanjian Kredit Investasi No. KP.COD/PK.KI/008/2007
On March 7, 2007, the Company obtained investment credit facilities from PT Bank Mandiri (Persero) Tbk amounting to Rp 2,881,802,800,000 (full Rupiah) consisting of: (i) Investment Credit Agreement No, KP.COD/PK.KI/006/2007 amounting to Rp 1,879,184,000,000 (full Rupiah) for financing The Construction of the Semarang-Solo toll road section. The credit facility period is 15 years. Interest is to be paid monthly at an interest rate of 14% per annum, floating rate, (ii) Investment Credit Agreement No. KP.COD/PK.K1/007/2007 amounting to Rp 450,682,000,000 (full Rupiah) for financing the construction of the Bogor Outer Ring Road toll road section. The credit facility period is 15 years. Interest is to be paid monthly at an interest rate of 14% per annum, floating rate and (iii) Investment Credit Agreement No. KP.COD/PK.KI/008/2007 amounting to Rp 551,936,800,000 (full Rupiah) for financing The
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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sebesar Rp 551.936.800.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Gempol - Pasuruan. Jangka waktu fasilitas kredit selama 13 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate.
Construction of the Gempol - Pasuruan toll road section The credit facility period is 13 years. Interest is to be paid monthly with an interest rate of 14% per annum, floating rate.
PT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk Pada tanggal 7 Maret 2007, Perusahaan memperoleh fasilitas kredit investasi dari PT Bank Negara Indonesia (Persero) Tbk, dengan jumlah seluruhnya sebesar Rp 2.521.577.450.000 (Rupiah penuh) terdiri dari: (i) Perjanjian Kredit Investasi No.13/PK/KPI/2007 sebesar Rp 394.346.750.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Bogor Outer Ring Road. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate, (ii) Perjanjian Kredit Investasi No.14/PK/KPI/2007 sebesar Rp 482.944.700.000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Gempol - Pasuruan. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate dan (iii) Perjanjian Kredit Investasi No.15/PK/KPI/2007 sebesar Rp 1.644.286.000.000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Semarang - Solo. Jangka waktu fasilitas kredit selama 15 tahun, pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate.
On March 7, 2007, the Company obtained investment credit facilities from PT Bank Negara Indonesia (Persero) Tbk amounting to Rp 2,521,577,450,000 (full Rupiah) consisting of: (I) Investment Credit Agreement No.13/PK/KPI/2007 amounting to Rp 394,346,750,000 (full Rupiah) for financing The Construction of the Bogor Outer Ring Road toll road section. The credit facility period is 15 years. Interest is to be paid monthly with an interest rate of 14% per annum, floating rate, (ii) Investment Credit Agreement No.14/PK/KPI/2007 amounting to Rp 482,944,700,000 (full Rupiah) for financing the construction of the Gempol - Pasuruan toll road section. The credit facility period is 15 years. Interest is to be paid monthly with an interest rate 14% per annum, floating rate and (iii) Investment Credit Agreement No.15/PK/KPI/2007 is amounting to Rp 1,644,286,000,000 (full Rupiah) for financing The Construction of the Semarang - Solo toll road section. The credit facility period is 15 years. Interest is to be paid monthly with an interest rate of 14% per annum, floating rate.
PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk Pada tanggal 7 Maret 2007, Perusahaan menandatangani Perjanjian untuk Memberikan Fasilitas Kredit Investasi dari PT Bank Rakyat Indonesia (Persero) Tbk dengan jumlah seluruhnya sebesar Rp 1.537.089.043.000 (Rupiah penuh) yang akan berlaku efektif setelah Perjanjian Kredit Investasi atas fasilitas pinjaman tersebut ditandatangani terdiri dari: (i) Perjanjian untuk Memberikan Fasilitas Kredit Investasi No.12/2007 sebesar Rp 184.750.000,000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Bogor Outer Ring Road, (ii) Perjanjian untuk Memberikan Fasilitas Kredit Investasi No.13/2007 sebesar Rp 326.500.000.000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Gempol - Pasuruan dan (iii) Perjanjian untuk Memberikan Fasilitas Kredit Investasi No.14/2007 sebesar Rp 1.025.839.043.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Semarang - Solo.
On March 7, 2007, the Company signed an agreement to obtain investment credit facilities from PT Bank Rakyat Indonesia (Persero) Tbk amounting to Rp 1,537,089,043,000 (full Rupiah) that will be effective after the Investment Credit Agreement has been signed, The facilities include: (I) agreement for the provision of investment credit facility No.12/2007 amounting to Rp 184,750,000,000 (full Rupiah) for financing The Construction of the Bogor Outer Ring Road toll road section; (ii) agreement for the provision of investment credit facility No.13/2007 amounting to Rp 326,500,000,000 (full Rupiah) for financing The Construction of the Gempol - Pasuruan toll road section; and (iii) agreement for the provision of investment credit facility No.14/2007 amounting to Rp 1,025,839,043,000 (full Rupiah) for financing The Construction of the Semarang - Solo toll road.
c. Perjanjian Penggunaan Dana Bergulir Pembelian Tanah untuk Jalan Tol dengan Badan Layanan Umum - Badan Pengatur Jalan Tol (BLU – BPJT)
c. Agreement of Fund Facility for Reimbursement of Land Aquisition for Toll Road with BLU-BPJT
Perusahaan telah memiliki perjanjian dengan BLU -BPJT, mengenai penggunaan dana bergulir untuk penggantian pembelian tanah dalam rangka pengusahaan ruas jalan
The Company has entered into an agreement with the Public Service Assistance Unit ("Badan Layanan Umum /BLU') regarding fund usage for financing land acquisition
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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tol Semarang - Solo, Gempol - Pasuruan dan Bogor Outer Ring Road masing-masing sebesar Rp 127.000.000.000 (Rupiah penuh), Rp 100.000.000.000 (Rupiah penuh) dan Rp 80.000.000.000 (Rupiah penuh) sesuai dengan Akta No.1, 2 dan 3 tanggal 6 Juni 2007 dari Notaris Suzy Anggraini Muharam, SH.
for three toll road projects Semarang - Solo, Gempol - Pasuruan and Bogor Outer Ring Road sections amounting to Rp 127,000,000,000 (full Rupiah), Rp 100,000,000,000 (full Rupiah) and Rp 80,000,000,000 (full Rupiah), respectively, based on the Deed No. 1, 2 and 3 dated June 6, 2007 of notary Suzy Anggraini Muharam, SH.
Tata cara penggunaan dana bergulir pada Badan Layanan Umum - Badan Pengatur Jalan Tol (BLU-BPJT) untuk pengadaan tanah jalan tol diatur dalam Peraturan Menteri PU No.04/PRT/M/2007, tanggal 26 Pebruari 2007. BLU-BPJT akan melaksanakan pembayaran terlebih dahulu (dana talangan), pembelian tanah untuk pembangunan ruas jalan tol yang merupakan kewajiban dari Perusahaan kepada Pemerintah sebagaimana diatur dalam PPJT. Dalam hal 1 (satu) Seksi selesai dibebaskan, Perusahaan harus mentransfer seluruh biaya ganti rugi tanah termasuk bunga ke Rekening BLU-BPJT dan BLU-BPJT membuat Berita Acara Serah Terima Tanah kepada Badan Usaha.
The procedure using of pre-fund at Public Service Assistance Unit (Badan Layanan Umum/BLU) of the Indonesian Toll Road Authority (ITRA) for toll road land acquisition based on the Decree of Public Works No.04/PRT/M/2007, dated February 26, 2007. BLUBPJT will conduct the payment firstly, acquisition land for toll road construction which represent Company's obligation to Government according to concession rights agreement (PPJT). In case one section has completed, the Company should transfer all indemnity costs including interest to BLU-BPJT account and BLU-BPJT should make minutes of land hand over to the entity.
Dalam hal Perjanjian Pengusahaan Ruas Jalan Tol untuk ruas jalan tol Semarang - Solo, Gempol - Pasuruan dan Bogor Outer Ring Road dialihkan kepada Entitas Anak dari Perusahaan, maka hak dan kewajiban Perusahaan dalam Perjanjian Penggunaan Dana BLU ini akan dialihkan kepada Entitas Anak.
After the transfer of the Company's rights under the Concession Agreements for Semarang - Solo, Gempol - Pasuruan and Bogor Outer Ring Road toll road to Subsidiaries, the Company's rights and obligations in the BLU Fund Usage Agreement will be transferred to Subsidiaries.
Menunjuk Peraturan Menteri Pekerjaan Umum No.14/PRT/M/2008 tentang tata cara penggunaaan dana bergulir pada Badan Layanan Umum - Badan Pengatur Jalan Tol untuk pengadaan tanah jalan tol, diatur penghapusan surety bond (jaminan) dalam perjanjian Penggunaan Dana Bergulir BLU, maka sebagai pengganti jaminan atas pengembalian dana bergulir ini akan diberlakukan cross default PPJT apabila Perusahaan gagal membayar dana bergulir BLU.
Referring to the Decree of the Minister of Public Works No.14/PRT/M/2008 regarding the procedure of pre-fund usage at Public Service Assistance Unit ("Badan Layanan Umum /BLU”) for land acquisition of toll road, manage the surety bond erasing on pre-fund usage agreement of BLU, therefore as a replacement of guarantee on the pre-fund return, then will be occured cross default PPJT if the Company failed to pay such pre-fund from BLU.
d. Kerjasama Pengoperasian Jalan Tol dengan PT Jalan tol Lingkarluar Jakarta
d. Toll Road Joint Operation with PT Jalantol Lingkarluar Jakarta
Berdasarkan Surat Kuasa No.111/SK/2003, tanggal 21 Nopember 2003, Perusahaan telah memberi kuasa kepada PT Jalantol Lingkarluar Jakarta (JLJ) (Entitas Anak), untuk melakukan pengoperasian, pengamanan dan pemeliharaan aset proyek JORR termasuk penyerahan pelaksanaan pekerjaan penyelenggaraan usaha lain. Surat Kuasa tersebut terakhir diubah dengan Surat Perubahan II tanggal 29 Desember 2006, jangka waktu kuasa selama 1 tahun terhitung sejak tanggal 29 Desember 2006.
Based on the Power of Attorney No.111/SK/2003 dated November 21, 2003, the Company has given authority to PT Jalantol Lingkarluar Jakarta (JLJ) (the Subsidiary) to operate, safeguard and maintain JORR project assets and to manage other operations. The Power of Attorney mentioned was changed with Alteration Letter II dated December 29, 2006, to extend the due date for 1 (one) year effective from December 29, 2006.
Berdasarkan akta perjanjian No: 068/KONTRAKDIR/2010 tanggal 30 Desember 2010, Perusahaan telah menyerahkan pelaksanaan pengoperasian, pengamanan dan pemeliharaan jalan tol ruas JORR dan ruas Ulujami-Pondok Aren selama jangka waktu 3 tahun terhitung sejak
Based on the agreement No: 068/KONTRAK-DIR/2010 dated December 30 ,2010, the Company has appointed the implementation of the operation, safe guarding and maintenance of the JORR and Ulujami-Pondok Aren toll road sections for over 3 years start which be effective
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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tanggal 1 Januari 2011 sampai dengan 31 Desember 2013. Pada tanggal 29 Desember 2011 akta perjanjian tersebut telah diubah dengan Adendum I, Adendum II, Adendum III, Adendum IV, Adendum V dan Adendum VI atas Perjanjian Pengoperasian, Pengamanan dan Pemeliharaan Jalan Tol Ruas JORR Seksi W2, S, El dan E2+E3 serta Ruas Ulujami - Pondok Aren. Berdasarkan Adendum I, Adendum II, Adendum III, Adendum IV, Adendum V kedua belah pihak menyepakati tentang perubahan biaya pengoperasian, pengamanan dan pemeliharaan atas ruas tersebut untuk tahun 2012 dan 2013. Sedangkan berdasarkan Adendum VI kedua belah pihak menyepakati tentang penambahan jangka waktu perjanjian selama 3 tahun dan berlaku terhitung sejak tanggal 1 Januari 2014 sampai dengan tanggal 31 Desember 2016.
since January 1, 2011 until December 31, 2013. On December 29, 2011, the agreement amended with Amendment I, Amendment II, Amendment III, Amendment IV, Amendment V, Amendment VI of Agreement of the Operation, Safe Guarding and Maintenance of JORR W2, S, El and E2+E3 Toll Road section and Ulujami - Pondok Aren toll road section. Based on the Amendment I, Amendment II, Amendment III, Amendment IV, Amendment V, both of the parties agreed the changes of cost of operation, safe guarding and maintenance of these sections for 2012 and 2013.Thus, based on Amendment VI both parties agreed to extend the agreement period for 3 (three) years and commencing from January1, 2014 up to December 31, 2016.
e. Kerjasama Pengoperasian Jalan Tol dengan PT Citra
Marga Nusaphala Persada (CMNP) e. Toll Road Joint Operation with PT Citra Marga
Nusaphala Persada (CMNP)
Perusahaan mengadakan kerjasama dengan CMNP dalam bentuk pengoperasian jalan tol secara terpadu yang dimuat dalam Akta No.42, tanggal 4 Juni 1993 juncto Akta No.386, tanggal 31 Desember 1994. Dalam Keputusan Bersama Menteri Pekerjaan Umum No.272- A/KPTS/2996 dan Menteri Keuangan No.434/ KMK.016/2996, tanggal 20 Juni 1996 tentang Pengoperasian Terpadu Jalan Tol Lingkar Dalam Kota Jakarta (Tomang - Cawang Tanjung Priok - Ancol Timur - Jembatan Tiga Pluit - Grogol Tomang) serta Penetapan Angka Perbandingan Pembagian Pendapatan Tol dinyatakan bahwa jatan tol lingkar dalam kota dijadikan sebagai satu kesatuan sistem jaringan jalan tol dalam kota Jakarta yang pengoperasiannya dilakukan secara terpadu dengan bagi pendapatan tol masing-masing sebesar 25% untuk Perusahaan dan sebesar 75% untuk CMNP.
The Company has entered into a joint operation agreement with CMNP in the form of integrated toll road operation as put forth in the Deed No.42 dated June 4, 1993 in conjunction with the Deed No.386 dated December 31, 1994. Based on the Joint Decrees of the Minister of Public Works of the Republic of Indonesia No.272-A/KPTS/2996 and the Minister of Finance No.434/KMK.016/2996 dated June 20, 1996 regarding the integrated operation of the Jakarta Inner Ring Road (Tomang-Cawang-Tanjung Priok-Ancol Timur-Jembatan Tiga Pluit-Grogol Tomang) and determination of Toll Revenue Sharing Ratio, the inner city ring road will be operated as one toll road network system with toll road revenue sharing of 25% for the Company and 75% for CMNP.
Berdasarkan Surat Keputusan Menteri Pemukiman dan Prasarana WIlayah No.JL.01.04-Mn/582, tanggal 7 Nopember 2002, ditetapkan persentase bagi hasil jalan tol dalam kota Jakarta antara CMNP dan Perusahaan sebagai berikut:
Based on the subsequent Decree of the Minister of Housing and Regional Infrastructure No.JL.01.04-Mn/582 dated November 7, 2002, the Jakarta Inner Ring Road revenue sharing between CMNP and the Company is set forth as follows:
CMNP Perusahaan/
Company
•Mulai Awal Konsesi s/d 9 Mei 2002 75% 25% •Beginning of Concession Period until May 9, 2002
•Mulai 10 Mei 2002 s/d 31 Desember 2002 65% 35% •From May 10, 2002 to December 31, 2002
•Mulai 1 Januari 2003 s/d Akhir Masa •From January 1, 2003 to the End of
Konsensi (Tahun 2025) 55% 45% Concession Period (Year 2025)
Persentase Bagi Hasil/
Percentage of Revenue Sharing
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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f. Kerjasama Pengoperasian Jalan Tol dengan PT Bintaro Serpong Damai (BSD)
f. Toll Road Joint Operation with PT Bintaro Serpong Damai (BSD)
Perusahaan telah mengadakan kerjasama kontrak manajemen dengan BSD sebagai operator jalan tol berdasarkan perjanjian kerjasama pengoperasian dan pemeliharaan jalan tol Pondok Aren - Serpong No.004/SPK-DIR/1998, tanggal 19 Mei 1998 yaitu dimulai sejak tanggal pengoperasian sampai dengan berakhirnya masa penyelenggaraan jalan tol Pondok Aren-Serpong atau pada saat diakhirinya perjanjian ini lebih awal. Berdasarkan Putusan Badan Arbitrase Nasional Indonesia No.217/1/ARB-BANI/2006, tanggal 31 Agustus 2006, lingkup pengoperasian Perusahaan sebagai berikut:
The Company has entered into a joint operation agreement with BSD as toll road operator for Pondok Aren - Serpong section based on toll road operation and maintenance agreement No.004/SPK-DIR/1998 dated May 19, 1998 which started from the date of operation until the expiration of the toll concession for Pondok Aren-Serpong or at the time of the termination of the agreement which ever is earlier. Based on the Decree of the Indonesian Board of Arbitration No.217/1/ARB-BANI/2006 dated August 31, 2006, the scope of operations are as follows:
1. Pengoperasian gerbang tol Pondok Ranji (Pondok Aren Timur).
1. Operation of Pondok Ranji toll gates (East Pondok Aren).
2. Pelayanan lalu lintas dan keamanan pengguna jalan
tol, serta pengamanan Aset, dengan catatan yang dilakukan oleh Perusahaan adalah yang menyangkut patroli seperti kendaraan rusak, kecelakaan sesuai lingkup pekerjaan patroli. Mengenai standar jumlah sesuai dengan Standar Pelayanan Minimum (SPM) jalan tol yang dikeluarkan Menteri Pekerjaan Umum.
2. Providing patrol and safety service for toll road users and safeguarding toll road assets whereby the Company is dealing with toll road users in the patrol area including damaged vehicles and accidents on toll roads on compliance with Standard of Minimum Service for toll roads issued by the Minister of Public Works.
g. Perjanjian Kerjasama Operasi g. Joint Operation Agreements Perusahaan mengadakan perjanjian kerjasama dengan sejumlah investor dalam rangka pembangunan, pembiayaan dan penyelengaraan jalan tol. Secara umum pokok yang diatur dalam perjanjian kerjasama operasi tanpa kuasa penyelenggaraan sebagai berikut:
The Company has entered into joint operation agreement with several investors for the construction, financing and operation of toll roads. Generally, the key provisions stipulated in such agreements are as follows :
(i) Investor membangun dan mendanai pembangunan jalan tol sesuai dengan desain, spesifikasi dan persyaratan yang telah ditetapkan.
(i) The investor builds and finances toll road projects according to the design, specification and requirements.
(ii) Investor menyerahkan jalan tol tersebut yang telah selesai dibangun kepada Perusahaan untuk dikelola dan dioperasikan.
(ii) The investor hands over the completed toll road projects to be managed and operated by the Company.
(iii) Perusahaan menanggung seluruh beban dan risiko yang timbul sehubungan dengan pengelolaan dan pengoperasian jalan tol.
(iii) The Company has responsibility to take any expenses and risk arising from the management and operations of the toll road.
(iv) Pembayaran kepada investor selama masa kerja operasi dilakukan dengan cara sebagai berikut:
(iv) Payments to the investors during the operations period are arranged under one of the following:
1. Bagi hasil pendapatan tol; atau 1. Toll revenue sharing; or 2. Bagi hasil pendapatan tol dengan jaminan
pembayaran minimum; atau 2. Toll revenue sharing with minimum guaranteed
payment; or 3. Pembayaran secara angsuran dalam jumlah tetap
(angsuran pasti), selama masa kerjasama operasi. 3. Fixed installments during the joint operations
period.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Rincian proyek kerjasama operasi tanpa kuasa penyelenggaraan pada 31 Desember 2014 sebagai berikut:
Details of joint operations agreement without operating rights as of December 31, 2014 are as follows:
Proyek Kerjasama Bagian Masa Kerjasama Operasi/
Operasi/ Pendapatan Joint Operation Period
Joint Operation Tol/ Toll
Project Revenue
Sharing
Bagi Hasil Pendapatan Tol Toll Revenue Sharing
Pelebaran Ruas Jalan Widening of Toll Road
PT Bangun Tjipta Sarana Cikampek Cibitung 69% 20 Tahun, sejak 1989/ PT Bangun Tjipta Sarana
20 Years, since 1989
Cawang Cibitung 41% 22 Tahun, sejak 1994/
22 Years, since 1994
PT Adhika Prakarsatama Jakarta - Tangerang 27% 17 Tahun 9 Bulan, sejak 1984/ PT Adhika Prakarsatarna
17 Years 9 Months, since 1994
Simpang Susun Toll Road Interchanges
PT Surya Cipta Swadaya Karawang Timur II 4 - 14% 17 Tahun, sejak 1998/ PT Surya Cipta Swadaya
17 Years, since 1998
InvestorsInvestor
Perjanjian kerjasama operasi yang telah mengalami perubahan dapat diikhtisarkan sebagai berikut:
The joint operations agreements that have been recently amended are summarized below:
1. Perjanjian Kerjasama Operasi dengan PT Bangun Tjipta Sarana
1. Joint Operation Agreement with PT Bangun Tjipta Sarana
PT Bangun Tjipta Sarana dan Perusahaan mengadakan Perjanjian Kerjasama Pelebaran Jalan Tol Jakarta-Cikampek sebagai berikut:
PT Bangun Tjipta Sarana and the Company signed Agreement For The Widening of Jakarta-Cikampek Toll Road as follows:
a. Kerjasama Ruas Cibitung-Cikampek Kerjasama ini berdasarkan akta notaris No. 109 tanggal 16 Oktober 1992 beserta perubahannya, berlaku untuk jangka waktu 26 tahun sejak Surat Perintah Mulai Kerja tanggal 10 Juli 1989.
a. Agreement for Segment Cibitung-Cikampek a. This agreement was stated in Notarial Deed No. 109
dated October 16, 1992 and its amendment, valid for 26 years started from the date of Construction Order on July 10, 1989.
b. Kerjasama Ruas Cawang-Cibitung Perusahaan dan BTS telah menandatangani Perjanjian Kerjasama Bagi Hasil Pelebaran Jalan Tol Jakarta-Cikampek ruas Cawang-Cibitung sesuai Akta No. 171 tanggal 17 Maret 1993, yang kemudian diubah dengan Akta No. 139 tanggal 15 Pebruari 1997 dan Akta No. 236 tanggal 23 September 2004.
b. Agreement for Segment Cawang-Cibitung
The Company and BTS signed Agreement For Revenue Sharing From The Widening Of Jakarta-Cikampek Toll Road Segment Cawang-Cibitung as stated in notarial deed No. 171 dated March 17, 1993, which later was amended by notarial deed No. 139 dated February, 15 1997 and No. 236 dated September 23, 2004.
b. 2. Perjanjian Kerjasama Operasi dengan PT Surya
Cipta Swadaya Tbk 2. Joint Operation Agreement with PT Surya Cipta
Swadaya Tbk PT Surya Cipta Swadaya melakukan pembangunan Modifikasi Simpang Susun Karawang Timur Jalan Tol Jakarta-Cikampek. Bagi Hasil dilakukan apabila PT Surya Cipta Swadaya telah menyelesaikan proyek tersebut dengan Perjanjian Kerjasama yang dibuat tertuang dalam Akta Notaris No.50 Tanggal 13 Juli 1998 oleh Notaris Agus Madjid, SH dengan Addendum I No.171 Tanggal 20 September 1998 dan Addendum ke II No. 1 Tanggal 01 Maret 1998.
PT Surya Cipta Swadaya Tbk conducted modification of construction on Karawang Timur Interchange of Jakarta-Cikampek toll road. Based on Joint Agreement No. 50 dated July 13, 1998 of Notary Agus Madjid, SH, and its Amendment I and II each No.171 dated September 20, 1998 and No. I dated March 1, 1998, profit sharing will be made when PT Surya Cipta Swadaya Tbk has completed the project.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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h. Restrukturisasi Utang JORR h. JORR Debt Restructuring Estimasi nilai liabilitas yang diambil alih sesuai dengan Surat Keputusan Komite Kebijakan Sektor Keuangan (KKSK) No.KEP-02/K.KKSK/02/2001, tanggal 5 Pebruari 2001 sebesar Rp 1.070.521.000.000 (Rupiah penuh) dengan rincian sebagai berikut:
The estimated of liability to be taken over, according to the Decree of the Committee for Financial Sector Policy No.KEP-02/K.KKSK/02/2001, dated February 15, 2001 was Rp 1,070,521,000,000 (full Rupiah), with details as follows:
Ruas Jalan Tol dan Investor/ Estimasi Surat Ketetapan Dasar Estimasi/
JORR Sections and Investors Kewajiban/ Letter of
Estimated Liabilities Liability Estimation Basis
Pondok Pinang - Cikunir (Seksi/ Section S dan/ and El) - MNB 721,149,000 No. IJK/5/0257
tanggal 12 Januari 2001/
dated January 12, 2001
Cikunir - Tanjung Priok (Seksi/ Section E2, E3, N) - CBMP 243,415,000 No. SFN/031/2000
tanggal 11 Januari 2000/
dated January 11, 2000
Kebon Jeruk - Pondok Pinang (Seksi/ Section W2) - CMSP 105,957,000 No, 2000.1128/DIRCO - DPI
tanggal 1 Nopember 2000/
dated November 1, 2000
Jumlah/ Total 1,070,521,000
Berdasarkan Akta No.42 dan 43 tanggal 19 Nopember 2003, dari Notaris Imas Fatimah, S.H., dicapai kesepakatan antara Perusahaan, PT Perusahaan Pengelola Aset (Persero) (PPA d/h BPPN) dan para kreditur JORR berkenaan dengan penyelesaian utang yang terkait dengan proyek JORR sebagai berikut:
Based on the Deed No.42 and 43 dated November 19, 2003 of Notary Imas Fatimah, S.H., the Company has reached agreements with PT Perusahaan Pengelola Aset (Persero) (PPA, formerly the Indonesian Banking Restructuring Agency, or IBRA) and other JORR creditors regarding the final settlement of JORR debt obligation as follows:
1. Utang kepada PPA (d/h BPPN) dan para kreditur JORR lainnya senilai Rp 1.070.521.000.000 (Rupiah penuh) tidak jadi dikonversi menjadi ekuitas di JLJ melainkan akan diselesaikan oleh Perusahaan;
1. JORR debt obligations to PPA (formerly IBRA) and other JORR creditors amounting to Rp 1,070,521,000,000 (full Rupiah) will be settled by the Company instead of being converted into equity in JLJ;
2. Utang yang berhubungan dengan JORR Seksi non S sebesar Rp 548.521.000.000 (Rupiah penuh) diselesaikan dengan pembayaran tunai sebesar Rp 274.260.500.000 (Rupiah penuh) dan sisanya dengan penerbitan obligasi JORR I Tahun 2003 sebesar Rp 274.260.500.000 (Rupiah penuh) kepada PPA (d/h BPPN) dan para kreditur JORR; dan
2. Part of debt obligations associated with JORR Section excluding Section S, amounting to Rp 548,521,000,000 (full Rupiah), will be settled by cash payment of Rp 274,260,500,000 (full Rupiah) and the remaining balance of Rp 274,260,500,000 (full Rupiah) will be settled by the issuance of JORR I Bond year 2003 series to PPA (formerly IBRA) and the other JORR creditors; and
3. Sisa utang JORR sebesar Rp 522.000.000.000 (Rupiah penuh) yang berhubungan dengan Seksi S (‘JORR Seksi S”) akan diselesaikan Perusahaan setelah terdapat pelaksanaan eksekusi atas Putusan Mahkamah Agung.
3. The remaining JORR debt obligations associated with Section (‘JORR Section S”), amounting to Rp 522,000,000,000 (full Rupiah), will be settled by the Company after the execution of the Supreme Court Verdict validating the Company's concession rights for Section S.
Memperhatikan Putusan Mahkamah Agung No. 720 K/Pid/2001, tanggal 11 Oktober 2001, Surat Perintah Pelaksanaan Putusan dari Kejaksaan Negeri Jakarta Pusat No.154/01.10/FU.1/10/2003 tanggal 14 Oktober 2003 dan Berita Acara Pelaksanaan Putusan Perampasan Barang Bukti, tanggal 7 April 2004, Menteri
By reference to the Decree of the Supreme Court No.720 K/Pid/2001 dated October 11, 2001, Instruction Letter of Execution the Decree from District Attorney of Central Jakarta No.154/01.10/FU.1/10/2003 dated October 14, 2003 Minutes of Execution of the Confiscation of Evidence dated April 7, 2004, and Minister of Public
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pekerjaan Umum dalam Surat Keputusan No.276/KPTS/M/2005, tanggal 9 Juni 2005 tentang Perubahan Wewenang Penyelenggaraan Jalan Tol Lingkar Luar Jakarta Seksi Pondok Pinang - Jagorawi (JORR Seksi S) kepada Perusahaan, telah memutuskan antara lain:
Works on Decision Letter No.276/KPTS/M/2005, dated June 9, 2005, regarding to the change of authority of the operator of JORR Pondok Pinang - Jagorawi Section (JORR Section S) to the Company, it has been decided as follows:
1. Mengubah wewenang penyelenggaraan Jalan Tol Lingkar Luar Jakarta Seksi Pondok Pinang - Jagorawi (JORR Seksi S) kepada Perusahaan untuk melunasi kredit dari Kreditur Sindikasi; dan
1. To change the authority of the operator of JORR Pondok Pinang - Jagorawi Section (JORR Section S) to the Company in order to settle the credits from the syndicated loans; and
2. Dana sebesar Rp 50.431.647.999 (Rupiah penuh) dalam Escrow Account yang tidak ada kaitan dan relevansi yang dapat dipertanggungjawabkan dengan tegas dan jelas terhadap JORR Seksi S untuk sementara tidak diperhitungkan dalam pembayaran utang sampai adanya klarifikasi berdasarkan penelitian lebih lanjut oleh Badan Pengawasan Keuangan dan Pembangunan.
2. The funds of Rp 50,431,647,999 (full Rupiah) in the escrow account which were not related to and relevant to the project accountability were temporarily not included for debt repayment until there is a clarification based on further investigation by the Development and Finance Supervisory Board.
3. Setelah seluruh kredit dari Kreditur Sindikasi untuk pembangunan JORR S dilunasi, Pemerintah akan menentukan kemudian pengelolaan JORR Seksi S sesuai dengan keputusan Mahkamah Agung RI.
3. After the syndicated loans for construction of JORR S are fully repaid, the Government will decide the authority upon JORR Section S in accordance to the Decree of the Supreme Court of the Republic of Indonesia.
Berdasarkan Surat Keputusan Menteri Pekerjaan Umum No. 276/KPTS/M/2005 dan Perjanjian Penyelesaian Hutang (PPH) JORR Seksi S tanggal 29 Desember 2005, Perusahaan mencatat aset tetap hak pengusahaan jalan tol dan kewajiban karena pemberian hak pengusahaan jalan tol masing-masing sebesar Rp 522.000.000.000 (Rupiah penuh). Perusahaan telah melunasi kewajiban JORR Seksi S sebesar Rp 522.000.000.000 (Rupiah penuh) dengan pembayaran tunai sebesar Rp 261.000.000.000 (Rupiah penuh) pada tanggal 3 Januari 2006 dan sisanya diselesaikan melalui penerbitan obligasi JORR II Tahun 2005 pada tanggal 5 Januari 2006.
Based on Decree of Minister of Public Works No. 276/KPTS/M/2005 and the Debt Settlement Agreement for JORR Section S dated December 29, 2005, the Company registers its fixed assets of right to development of toll roads and obligation from handing over right to development of toll roads each in the amount of Rp 522,000,000,000. The Company has settled the JORR Section S debt obligations in the amount of Rp 522,000,000,000 by paying in cash an amount of Rp 261,000,000,000 on January 3, 2006 and the remaining balance through the issuance of JORR II Year 2005 bonds on January 5, 2006.
Di dalam surat dari BPJT No. 845/BPJT/KE/PW.10.01/ 2009 tanggal 15 Oktober 2009 dan No. 993/BPJT/KU. 09.03/2009 tanggal 15 Desember 2009 disebutkan bahwa wewenang penyelenggaraan jalan tol JORR Section S diberikan kepada Perusahaan sampai dengan tercapainya pelunasan Utang dari Kreditur Sindikasi. Sehingga, perlu dilakukan penunjukan pihak independen untuk melakukan analisa/kajian terhadap pendapatan tol, beban serta arus kas JORR Seksi S dalam kaitannya dengan proyeksi pelunasan utang tersebut.
In the letters from Indonesian Toll Road Authority (ITRA) No. 845/BPJT/KE/PW.10.01/2009 dated October 15, 2009 and No. 993/BPJT/KU.09.03/2009 dated December 15, 2009, it was stated that the authority of developing JORR Seksi S Toll Road is handed over to Company until debt obligations towards the Syndicated Crediturs have been fully settled. As such, an independent body must be selected to perform an analysis/review of the toll revenues, liabilities, as well as the cash flow of JORR Section S in relation to the projected settlement of of such debt.
Perusahaan telah mengirimkan surat kepada BPJT pada bulan September 2011, mengenai hasil analisa/kajian pihak independen tersebut. Perusahaan pada tanggal 23 Januari 2013 mendapatkan surat dari Sekretaris Jenderal Pekerjaan Umum (PU) perihal pemisahaan pendapatan tol JORR Seksi S dari pendapatan JORR, dan Perusahaan telah melakukannya.
The Company has sent letters to BPJT in September 2011, the results of analysis / assessment independent parties. On January 23, 2013, the Company to get a letter from the Secretary-General of Public Works (PU) with respect to separation of toll revenue from income JORR Section S, and the Company has separated the revenue.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pada tanggal 20 Maret 2013 Perusahaan telah menerima Surat Keputusan Menteri Pekerjaan Umum No. 80.1/KPTS/M/2013 tanggal 25 Pebruari 2013 tentang Pengoperasian Sementara Jalan Tol Lingkarluar Jakarta Seksi Pondok Pinang – Jagorawi (JORR Seksi S), yang berisi antara lain:
On March 20, 2013 the Company received Decree Letter from the Minister of Public Works No. 80.1/KPTS/M/2013 dated February 25, 2013, regarding the temporary operation of Jakarta Outer Ring Road Section Pondok Pinang - Jagorawi (JORR Section S), which stipulated that:
1. Menugaskan Perusahaan untuk melaksanakan pengoperasian sementara dan pemeliharaan Jalan Tol JORR Seksi S sampai dengan ditetapkan Badan Usaha Jalan Tol sebagai operator tetap.
1. Assigned the Company to temporarily operate and maintain JORR Section S until BPJT legally decides the legitimate operator.
2. Tugas Operasi dan Pemeliharaan Jalan Tol JORR S meliputi sebagai berikut:
2. Operation and maintenance of JORR Section “S” includes among others are:
a. Pengoperasian dan pemeliharaan rutin Jalan Tol JORR Seksi S termasuk penanganan darurat.
3. a. Regular operation and maintenance of JORR Section S including emergency responses.
b. Pemeliharaan berkala dan rehabilitasi/ rekonstruksi kerusakan akibat bencana alam, setelah mendapat persetujuan Menteri cq. Kepala BPJT.
b. Periodic maintenance and rehabilitation/ reconstruction of damages due to natural disasters, after obtaining approval from the Head of BPJT.
3. Pendapatan dari Pengoperasian Jalan Tol JORR Seksi S setelah dikurangi biaya sebagaimana dimaksud diktum kedua, dipisahkan dan dimasukkan kedalam rekening khusus.
3. Operation and toll revenue of JORR Section S, after deducted by fees referred in the second point, is separated and placed in a particular bank account.
4. Melaporkan secara periodik setiap bulan pelaksanaan pengoperasian dan pemeliharaan Jalan Tol JORR Seksi S termasuk status rekening khusus kepada Menteri Pekerjaan Umum cq. Kepala Badan Pengatur Jalan Tol.
4. Periodic report is compulsory to be submitted monthly to the Minister of Public Works cq. Head of BPJT clarifying the operation and maintenance of JORR Section S, including statement of balance of particular bank accounts.
5. Konsesi Jalan Tol JORR Seksi S akan ditetapkan oleh Menteri Pekerjaan Umum secara proporsional berdasarkan hasil audit dari auditor yang ditunjuk bersama Perusahaan, PT Hutama Karya (Persero) dan PT Marga Nurindo Bhakti.
5. JORR Section S concession will be determined by the Minister of Public Works proportionally based on the results of the audit by the appointed auditors after agreed by the Company, PT Hutama Karya (Persero) and PT Marga Nurindo Bhakti.
6. Dengan berlakunya Keputusan ini, maka Keputusan Menteri Pekerjaan Umum Nomor: 276/KPTS/M/2005 tentang Perubahan Wewenang Penyelenggaraan Jalan Tol Lingkarluar Jakarta Seksi Pondok Pinang – Jagorawi (JORR Seksi S) dicabut dan dinyatakan tidak berlaku.
6. As this Decree Letter is issued, the Decree of the Minister of Public Works No: 276/KPTS/M/2005 regarding the change of authority of JORR Section S operation is revoked and no longer valid.
7. Keputusan ini mulai berlaku pada tanggal ditetapkan. 7. This decree is valid started from the date of enactment.
Pada tanggal 26 Juni 2013 melalui surat No. JL.01.03-Mn/417, Menteri Pekerjaan Umum memerintahkan agar PT Hutama Karya (Persero), PT Marga Nurindo Bhakti, dan Perusahaan membuat kesepakatan bersama untuk menunjuk auditor independen dalam rangka mengaudit JORR Seksi S selambat-lambatnya 14 hari setelah tanggal diterimanya surat dimaksud. Apabila sampai dengan waktu yang ditetapkan PT Hutama Karya, PT Marga Nurindo Bhakti, dan Perusahaan tidak menyerahkan kesepakatan bersama terkait penunjukan auditor independen dimaksud, maka Pemerintah akan menunjuk auditor untuk mengaudit Pengusahaan Tol JORR Seksi S.
On June 26, 2013 by letter No. Jl.01.03-Mn/417, the Minister of Public Works has assigned PT Hutama Karya (Persero), PT Marga Nurindo Bhakti and the Company to make a mutual agreement regarding appointment of an independent auditor to perform audit of JORR Section S at the latest 14 days after date of receipt of the letter referred to. If until the specified time PT Hutama Karya, PT Bhakti Marga Nurindo, and The Company does not submit the relevant collective agreement referred to the appointment of independent auditors, the government would appoint an auditor to audit the JORR Section S Toll Concession.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Mengingat tidak tercapainya kesepakatan dalam waktu 14 hari tersebut, maka Pemerintah menunjuk BPK sebagai auditor untuk melakukan audit terhadap JORR Seksi S.
Consider the disagreement within such 14 days, then the Government appointed BPK as auditor to perform audit of JORR Section S.
Pada tanggal 5 September 2014 Perusahaan menerima Surat Keputusan Menteri Pekerjaan Umum No. 515/KPTS/M/2014, dimana antara lain berisi;
On September 5, 2014 the Company received Decision Letter 2014 of the Minister of Public Works No. 515/KPTS/M/2014, with some important points are as follows:
1. Hak Pengusahaan Jalan Tol Lingkar Luar jakarta seksi Pondok Pinang-Jagorawi (JORR “S”) diberikan kepada : (i) PT Marga Nurindo bhakti untuk melunasi kewajiban sisa hutang kepada sindikasi PT Bank Negara Indonesia (Persero) Tbk, dan (ii) Perusahaan untuk pengembalian biaya investasi terkait Jalan Tol JORR “S”, dengan masa konsesi sampai 2029.
1. The Concession Rights of Jakarta Outer Ring Road Section Pondok Pinang- Jagorawi (JORR S) is delegated to: (i) PT Marga Nurindo Bakti in order to settle up remaining debt to syndicate of PT Bank Negara Indonesia (Persero) Tbk, and (ii) the Company as the repayment of investment costs related to JORR S toll road, with period up to 2029.
2. Sisa hutang PT Marga Nurindo Bhakti kepada sindikasi PT Bank Negara Indonesia (Persero) Tbk sebagaimana dimaksud dalam diktum PERTAMA sesuai dengan yang ditetapkan oleh Direktorat Jenderal Kekayaan Negara Kementerian Keuangan, sedangkan pengembalian biaya investasi Perusahaan sesuai dengan Hasil Audit BPK RI.
2. The remaining debt of PT Marga Nurindo Bakti to syndicate of PT Bank Negara Indonesia (Persero) Tbk is defined in accordance with the FIRST dictum which determined by the Directorate General of State of Ministry of Finance, while the repayment of the investment costs of The Company is defined in accordance with the BPK audit results.
3. PT Marga Nurindo Bhakti dan Perusahaan berkewajiban untuk : a. Melaksanakan Pengoperasian, Pemeliharaan
Rutin dan Berkala serta Rehabilitasi/Rekonstruksi kerusakan Jalan Tol JORR “S” akibat Bencana Alam.
b. Memenuhi aturan Standar Pelayanan Minimal
Jalan Tol sebagaimana diatur dalam peraturan Menteri Pekerjaan Umum No. 390/PRT/M/2005 tentang Standar Pelayanan Minimal Jalan Tol, dan ketentuan peraturan perundang-undangan.
c. Melaporkan secara periodik setiap triwulan
pelaksanaan pengoperasian dan pemeliharaan Jalan Tol JORR “S” termasuk tetapi tidak terbatas mengenai pendapatan tol kepada Menteri PU cq. Kepala BPJT.
3. PT Marga Nurindo Bhakti and The Company are obliged to:
a. Carry out the Operation, routine and periodical Maintenance, also Rehabilitation/ Reconstruction of defective JORR S toll road which caused by Natural Disasters.
b. Comply to the Minimum Service Standards of
toll road as specified in the regulation from Minister of Public Works No. 390/PRT/M/2005 on Minimum Service Standards Of Toll Road, and comply to all associated legislation.
c. Submit quarterly report on the implementation of
operation and maintenance of JORR S toll road, including but not limited to the toll revenue report to the Minister of Public Works cq. Head of BPJT.
4. PT Marga Nurindo Bhakti wajib membayar hutangnya kepada negara cq. Kementerian Keuangan RI qq Direktoral Jenderal Kekayaan Negara sebagaimana dimaksud diktum KEDUA, dan melaporkan status pelunasan hutang secara periodik setiap triwulan kepada Menteri PU cq. Kepala BPJT.
4. PT Marga Nurindo Bhakti is obliged to pay its debt to the state, cq. Directorate General of State of Ministry of Finance as referred to the SECOND dictum, and to submit report on the status of debt payment periodically every three months to the Minister of Public Works cq. Head of BPJT.
5. PT Marga Nurindo Bhakti dan Perusahaan berhak mendapatkan jasa pengoperasian dan keuntungan sesuai ketentuan peraturan perundang-undangan selama masa pengoperasian sebagaimana dimaksud pada diktum PERTAMA.
5. PT Marga Nurindo Bhakti and The Company is entitled to the economic benefits in accordance with the services performed during the operation period, as stated in the FIRST dictum.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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6. Dalam hal pelunasan sisa hutang PT Marga Nurindo Bhakti dan pengembalian biaya investasi Perusahaan sebagaimana dimaksud dalam diktum KEDUA telah terpenuhi sebelum masa konsesi berakhir sebagaimana dimaksud dalam diktum PERTAMA, maka pengusahaan Jalan Tol JORR S wajib diserahkan kepada Negara/Pemerintah cq PT Hutama Karya (Persero).
6. In terms of the repayment of the remaining debt of PT Marga Nurindo Bhakti and the repayment of investment costs of The Company, as referred to in the SECOND dictum has been achieved before the end of concession period as referred to in the FIRST dictum, the concession rights of JORR S toll road must be handed over to the State/government, cq. PT Hutama Karya (Persero).
7. Perjanjian Pengusahaan Jalan Tol JORR “S” akan ditandatangani oleh Badan Pengatur Jalan Tol berdasarkan kesepakatan korporasi PT Marga Nurindo Bhakti dan Perusahaan, dengan masa konsesi yang berlaku sejak pelunasan hutang PT Marga Nurindo Bhakti yang ditanggung Badan Penyehatan Perbankan Nasional (BPPN) oleh Perusahaan, sedangkan hal-hal terkait tindakan korporasi dari pihak lain wajib diselesaikan sesuai ketentuan peraturan perundang-undangan.
7. Concession Agreement of JORR S toll road will be signed by the Toll Road Regulatory Agency, based on agreement between PT Marga Nurindo Bhakti and The Company, with the concession period since the debt settlement of PT Marga Nurindo Bhakti which is guaranted by Indonesian Bank Restructuring Agency (BPPN) by The Company, meanwhile the related matters to corporate actions with the other party shall be resolved in accordance with the legislation.
8. Dengan berlakunya Keputusan Menteri ini, Keputusan Menteri Pekerjaan Umum Nomor 80.1/KPTS/M/2013 tentang Pengoperasian Sementara Jalan Tol Lingkar Luar Jakarta Seksi Pondok Pinang – Jagorawi (JORR S) telah dicabut dan dinyatakan tidak berlaku.
8. With the enactment of this decree, the decree of The Minister of Public Works No. 80.1/KPTS/M/2013 on Temporary Operation of Jakarta Outer Ring Road Section Pondok Pinang-Jagorawi (JORR S), is revoked and declared invalid.
9. Keputusan ini mulai berlaku sejak tanggal ditandatangani Perjanjian Pengusahaan Jalan Tol JORR “S”.
9. This Decision takes effect from the signing date of Concession Agreement of JORR S toll road.
Perusahaan telah menindaklanjuti Surat Keputusan Menteri Pekerjaan Umum No. 515/KPTS/M/2014 dengan mengirimkan surat No. AA.HK.1092 tanggal 16 Oktober 2014, dimana antara lain berisi;
Perusahaan telah menghitung kembali tambahan investasi di JORR S dan fee jasa pengoperasian. Atas perhitungan tersebut, Perusahaan menyatakan lunas pada April tahun 2013.
Dengan penyelesaian Penetapan Pengembalian tambahan investasi dan fee jasa pengoperasian, Perusahaan tidak menjadi pihak dalam Perjanjian Pengusahaan Jalan Tol (PPJT) JORR S.
The Company responded to Decision Letter from the Minister of Public Works No. 515/KPTS/M/2014 by letter No. AA.HK.1092 dated October 16, 2014, with some important points are as follows:
The Company had made recalculation on additional investment and its associated operating fees. From the recalculation,the Company stated that the cost that had been disbursed was fully repaid in April 2013.
At the time the decision of return on additional investment and its associated operation fees was assigned, the Company was no longer a part of the Concession Agreement of JORR S.
Pada tanggal 17 Oktober 2014 Menteri Pekerjaan Umum Repubilk Indonesia melalui surat No: JL 03.04-Mn/546 menyampaikan sebagai berikut: 1. Kementerian PU memahami bahwa seluruh nilai
investasi tambahan dari Perusahaan dan fee jasa pengoperasian jalan Tol JORR “S” sudah terlunasi pada April 2013, dan juga usulan mengenai Perusahaan tidak menjadi pihak dalam Perjanjian Pengusahaan Jalan Tol (PPJT).
2. Berdasarkan hal tersebut, dan dalam rangka penetapan PPJT JORR S kiranya Perusahaan segera membahas lebih lanjut dengan Badan Pengatur Jalan Tol untuk: i) penetapan pegembalian
The Company received a response from the Minister of Public Works by letter No. JL 03:04-Mn/546 dated October 17, 2014 which stated that: 1. The Ministry of Public Works comprehends that the
total amount of additional investment and its associated operating fees the Company which had been disbursed for JORR S had been paid off in April 2013, and has received proposal of withdrawal from the concession agreement (PPJT).
2. Based on the above statement, and in accordance with the arrangement of Concession Agreement of JORR S, the Company should immediately discuss with the Toll Road Regulatory Agency in order to
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 111 Paraf:
investasi, dan ii) fee jasa pengoperasian jalan Tol JORR S.
determine the repayment of: i) addititional investment, and ii) its associated operational fees of JORR S.
Atas hal tersebut, mengingat investasi di JORR S telah lunas sejak April 2013, dan selain itu sejak tanggal 25 Februari 2013, Perusahaan tidak lagi mengakui pendapatan tol dari aset tersebut, maka Perusahaan mengubah kebijakan akuntansi atas aset pengusahaan jalan tol JORR S dan menghapusbukukan aset JORR S dari laporan keuangan Perusahaan mulai bulan Mei 2013.
Given that condition, the investment in JORR S has been paid since April 2013, and in addition to that from the date of February 25, 2013, the Company no longer recognized toll revenue from these assets, the Company changed its accounting treatment on toll road concession rights JORR S and made write-off of JORR S asset of the Company's financial statements starting in May 2013.
i. Perjanjian Pengoperasian Jalan Tol Jembatan Surabaya - Madura (Suramadu)
i. Agreement Toll Road Operation of Surabaya - Madura (Suramadu) Bridge
Berdasarkan Surat Keputusan Menteri Pekerjaan Umum No.391/KPTS/M/2009, tanggal 4 Juni 2009, tentang Penugasan Kepada Kepala Badan Pengatur Jalan Tol untuk menandatangani Perjanjian Pengusahaan Jalan Tol, maka Perusahaan telah menandatangani Surat Perintah Mulai Kerja No. 446/BPJT/SPMK/KE/2009 dengan Badan Pengatur Jalan Tol atas nama Menteri Pekerjaan Umum.
Based on Decree of Minister of Public Works No. 391/KPTS/M/2009, dated June 4, 2009, about The Assignment for Head of To// Road Coordination to sign the concession toll road, the company signed Instruction Letter Work Beginning No.446/BPJT/SPMK/KE/2009 with Toll Road Coordination Board in the name of Minister of Public Works.
Sesuai surat Menteri Pekerjaan Umum No. KU.03.01-Mn/339 tanggal 18 Juni 2012, Perihal Penetapan Pemenang Pelelangan Pengoperasian dan Pemeliharaan Jalan Tol Suramadu ditetapkan untuk melaksanakan Pengoperasian dan Pemeliharaan Jalan Tol Jembatan Suramadu dengan jadwal pelaksanaan selama 6 (enam) tahun (2012-2017).
Based on Decree of Minister of Public Works No. KU.03.01-Mn/339, dated June 18, 2012, about The Auction Winner Determination of Suramadu Toll Road Operation and Maintenance assigning Company to perform Suramadu Toll Road operation and maintenance with the implementation schedule for six years (2012-2017).
Pada tanggal 11 Juli 2014, Perusahaan telah menandatangani Perjanjian Kerjasama dengan Badan Pelaksana Pengembangan Wilayah Suramadu (BP-BPWS) No. 72/KONTRAK-DIR/2014 mengenai Pengusahaan Jalan Tol Jembatan Suramadu yang merupakan bagian dari pengusahaan Jalan Tol Jembatan Suramadu.
On July 11, 2014, the Company signed the agreement with Badan Pelaksana Pengembangan Wilayah Suramadu (BP-BPWS) stated in the minutes No. 72/CONTRACT-DIR/2014 regarding Concession of Suramadu Toll Road which is part of the concession of Suramadu Toll Road.
Perjanjian Pengusahaan Jalan Tol (PPJT) Jembatan Suramadu telah ditandatangani antara Perusahaan dengan BPJT sebagaimana akta notaris No. 15 tanggal 20 Agustus 2014 dari Notaris Rina Utami Djauhari, S.H..
Concession Agreement of Suramadu Toll Road was signed by the Company and BPJT as stated in notarial deed No. 15 dated August 20, 2014 of Rina Utami Djauhari, S.H..
j. PT Kresna Kusuma Dyandra Marga (KKDM) j. PT Kresna Kusuma Dyandra Marga (KKDM)
PT Kresna Kusuma Dyandra Marga (KKDM) didirikan berdasarkan Akta No. 94, tanggal 20 Desember 1996 dari Notaris Mudofir Hadi, S.H., Penyertaan pada KKDM dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Bekasi Timur-Cawang-Kampung Melayu yang meliputi pembangunan, pengoperasian dan pemeliharaan jalan tol. Perusahaan memiliki 7.650.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 7.650.000.000 (Rupiah penuh) yang merupakan 10% kepemilikan Perusahaan. Berdasarkan akta notaris No. 24 tanggal 17 Oktober 2014 dari Jose Dima Satria, S.H., M.Kn., kepemilikan Perusahaan
PT Kresna Kusuma Dyandra Marga (KKDM) was established based on the Deed No. 94, dated December 20, 1996 of Notary Mudofir Hadi, S.H., The investment in KKDM relates to the operation of the Bekasi Timur- Cawang Kampung Melayu toll road project including the construction, operation, maintenance of the toll road. The Company owns 7,650,000 shares with a par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 7,650,000,000 (full Rupiah), representing 10% ownership of KKDM. Based on notarial deed No. 24 dated October 17, 2014 from Jose Dima Satria, S.H., M.Kn., Company’s ownership was diluted from 10% to 1.03%. Up
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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terdilusi dari 10% menjadi 1,03%. Sampai dengan tanggal laporan ini, Perusahaan belum melakukan penyetoran saham tersebut.
to the date of this report, the subscriptions of shares have not been paid by the Company.
Pada tanggal 29 Desember 2006, melalui Surat Perusahaan No.AA.KU05.2002 kepada Menteri BUMN, Perusahaan mengajukan permohonan persetujuan pelepasan penyertaan saham Perusahaan di KKDM dan Perusahaan telah memperoleh persetujuan pelepasan saham KKDM dari Menteri BUMN melalui Surat No.S-175/MBU/2007, tanggal 29 Maret 2007. Sampai dengan tanggal laporan ini, Perusahaan belum melakukan pelepasan saham tersebut.
On December 29, 2006, through Letter of the Company No.AA.KU05.2002 to the Minister of State-Owned Enterprises the Company requested approval for disposal of the Company's investment in KKDM and the Company obtained approval for the share disposal from the Minister of State Owned Enterprises through Letter No.S-175/MBU/2007 dated March 29, 2007. Until the date of this report, the Company has not yet disposed the shares.
45. Kontinjensi 45. Contingencies
a. Kewajiban Karena Pengakhiran Perjanjian Kuasa
Penyelenggaraan a. Obligation Due Termination of Concession
Agreement Perusahaan melakukan kerjasama operasi dengan PT Citra Ganesha Marga Nusantara (CGMN) untuk pembangunan Jalan Tol Cikampek - Padalarang pada tahun 1994, sebagaimana tertuang dalam Perjanjian Kuasa Penyelenggaraan (PKP) No.297 tanggal 21 Desember 1994. Namun demikian, pada 18 Juli 2001 Menteri Pemukiman dan Prasarana Wilayah (Menkimpraswil) dengan Surat Keputusan No.417 mencabut keputusan pemberian izin Kerjasama Penyelenggaraan Jalan Tol antara Perusahaan dengan CGMN. Pada 25 Juli 2001, Perusahaan mengakhiri PKP dengan CGMN.
The Company entered into a joint operation in 1994 with PT Citra Ganesha Marga Nusantara (CGMN) for construction of the Cikampek - Padalarang Toll Road as set forth in the Concession Agreement No.297 dated December 21, 1994. However, on July 18, 2001, the Minister of Housing and Regional Infrastructure with the Letter No.417 revoked the decision granting permission of Toll Road Joint Operation license between the Company and CGMN. For that reason, on July 25, 2001, the Company terminated the Concession Agreement with CGMN.
Perjanjian Kuasa Penyelengaraan (PKP) No.297 tanggal 21 Desember 1994 menyebutkan bahwa bila terjadi pengakhiran masa penyelenggaraan jalan tol lebih awal sebelum masa konsesi berakhir, maka Perusahaan berkewajiban untuk mengambil-alih seluruh utang dan harus memenuhi hak Penanam Modal (CGMN). Dalam pasal 14.1 PKP disebutkan bahwa Perusahaan harus membayar sejumlah uang atas nilai buku jalan tol setelah dikurangi nilai kewajiban yang harus diambil alih Perusahaan.
The Concession Agreement No.297 dated December 21, 1994 states that if there is termination of concession agreement before the concession period is due, the Company has an obligation to take over the overall liabilities and should fulfill the rights of shareholders (CGMN). Article 14.1 of the Concession Agreement states that the Company should pay some amount over the book value of the toll road after deducting amount of liabilities taken over by the Company.
Perusahaan telah melakukan estimasi kewajiban dan nilai aset akibat pengakhiran PKP dengan CGMN sebesar Rp 202.454.407.000 yang merupakan nilai buku yang telah diaudit atas aset dalam penyelesaian pada tanggal 31 Desember 1999. Perusahaan masih terus mengupayakan penyelesaian penetapan secara definitif atas jumlah liabilitas.
The Company has recorded that the estimation of liabilities and assets value as a result of termination of PKP with CGMN is in the amount of Rp 202,454,407,000, which constitutes the book value that has been audited on the settlement assets on December 31, 1999. The Company is still on the process on determining the definitive value of liabilities.
Perusahaan telah membentuk tim untuk mengkaji penyelesaian permasalahan akibat pengakhiran PKP Jalan Tol Cikampek - Padalarang antara Perusahaan dan CGMN.
The Company has formed a team to analyze the dispute settlement that has arisen from the termination of the Cikampek-Padalarang Toll Road PKP between the Company and CGMN.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pada tanggal 23 Juni 2014 melalui surat No. AA.HK05.0.645, Perusahaan telah memberikan tanggapan atas surat dari kementerian BUMN No. S-268/MBU/D2/2014 tanggal 10 Juni 2014 mengenai rencana pengajuan gugatan oleh Trafalgar House Construction (Jersey) Limited (THCJ) yang bertindak sebagai pemegang saham mayoritas PT CGMN melalui Arbitrase Internasional kepada pemerintah Republik Indonesia.
On June 23, 2014 through Letter No. AA.HK05.0.645, the Company has responded to the letter of the Ministry of State-Owned Enterprises No. S-268/MBU/D2/2014 dated June 10, 2014 regarding the filing plan by Trafalgar House Construction (Jersey) Limited (THCJ) which acts as the majority shareholder of PT CGMN through International Arbitration to the government of the Republic of Indonesia.
b. Tuntutan Ganti Rugi Kepada PT Lapindo Brantas dan Penutupan Sebagian Jalan Tol Surabaya-Gempol Seksi Porong-Gempol
b. Claim of Compensation Against PT Lapindo Brantas and Closing of Part of the Surabaya -Gempol Toll Road Section Porong - Gempol
Sebagai dampak dari bencana luapan Lumpur PT Lapindo Brantas yang mengakibatkan kerusakan pada sebagian jalan tol Surabaya - Gempol, Perusahaan telah mengirimkan beberapa surat permintaan ganti rugi dan somasi di tahun 2006 atas kehilangan pendapatan tol dan pengeluaran berbagai biaya kepada PT Lapindo Brantas. Klaim kerusakan jalan tol tersebut akan meningkat menjadi klaim biaya relokasi ruas jalan tol Porong - Gempol, yang akan diselesaikan sesuai dengan ketentuan dalam Perjanjian Pengusahaan Jalan Tol (PPJT) Surabaya - Gempol dan kebijakan Pemerintah dalam penyelesaian dampak semburan Lumpur di Sidoarjo, sesuai dengan Keputusan Menteri Pekerjaan Umum No.394/KPTS/M/2006, tanggal 30 Nopember 2006 tentang penutupan sebagian Jalan Tol Surabaya -Gempol.
As a consequence of the mud flood disaster of PT Lapindo Brantas that has damaged part of the Surabaya - Gempol toll road, in 2006 the Company has submitted several claims of compensation to PT Lapindo Brantas covering loss of toll revenues and expenditures. The claim for damage to the toll roads is expected to increase and later include a claim for cost to relocated the Porong - Gempol Section toll road, and will be settled in connection with the stipulation on the Concession Agreement of the Surabaya - Gempol toll road and the Government policy in settlement of the effects of the mud flood disaster at Sidoarjo in accordance with the Decree of the Minister of Public Works No.394/KPTS/M/2006 dated November 30, 2006 regarding the Closure of Part of the Surabaya -Gempol Toll Road.
Berdasarkan Keputusan Presiden No.13 Tahun 2006, tanggal 3 September 2006 mengenai Tim Nasional Penanggulangan Semburan Lumpur di Sidoarjo, semua biaya yang timbul sebagai akibat relokasi pembangunan jalan tol dimaksud selain biaya rehabilitasi kerusakan sarana menjadi tanggung jawab PT Lapindo Brantas. Selain itu, Surat Keputusan Menteri Pekerjaan Umum No.394/KPTS/M/2006, tanggal 30 Nopember 2006, mengenai Penutupan sebagian Jalan Tol Surabaya - Gempol seksi Porong Gempol, menyatakan antara lain sebagai berikut:
Based on the Decree of President No.13 Year 2006 dated September 3, 2006 regarding the National Team for Mud Floods Disaster at Sidoarjo, all expenditures incurred due to the relocation of toll road development except for rehabilitation expenses for damaged facilites will become the responsibility of PT Lapindo Brantas. In addition, the Decree of Minister of Public Works No.394/KPTS/M/2006 dated November 30, 2006 related to the Closure of Part of the Surabaya - Gempol Toll Road Porong - Gempol Section Provides:
1. Menutup dan tidak mengoperasikan kembali sebagian jalan tol Surabaya - Gempol Seksi Porong -Gempol; dan
1. To close and stop the operation a part of the Surabaya - Gempol toll road Porong Gempol Section; and
2. Segala hal yang timbul pada pengusahaan jalan tol Surabaya - Gempol sebagai akibat dari penutupan seksi Porong - Gempol akan diselesaikan sesuai dengan ketentuan dalam PPJT Surabaya - Gempol dan kebijakan Pemerintah dalam penyelesaian dampak semburan lumpur di Sidoarjo.
2. Those all matter which impact on the operation of the Surabaya - Gempol toll road as a result of the closure of the Porong Gempol Section will be handled according to the regulation of Surabaya -Gempol Toll Road Concession Agreement and the Government policy for settlement of the effect of the mud flood disaster at Sidoarjo.
Berdasarkan Surat Menteri Pekerjaan Umum No.JL. 0103-Mn/131, tanggal 30 Maret 2007, dalam rangka relokasi jalan tol seksi Porong - Gempol, kebutuhan tanah untuk relokasi infrastruktur akan disediakan oleh Pemerintah dan pelaksana konstruksi.
Based on the Minister of Public Works Letter No.JL.0103-Mn/131, dated March 30, 2007, in order to relocated the Porong - Gempol toll road section, the land requirements for relocation of the infrastructure will be provided by the Government and contractors.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Berdasarkan Surat Menteri Negara Badan Usaha Milik Negara No.S-196/MBU/2007, tanggal 4 April 2007 kepada Menteri Pekerjaan Umum dan Menteri Keuangan, sehubungan dengan kerugian atas hilangnya sebagian aset jalan tol seksi Porong - Gempol, maka sejalan dengan Undang-undang Jalan No.38 Tahun 2004 dan Undang-undang Keuangan Negara No.17 Tahun 2003, klaim atas kerugian dimaksud seyogyanya dilakukan oleh Pemerintah melalui Departemen Pekerjaan Umum kepada PT Lapindo Brantas.
Based on the Minister of State-Owned Enterprises Letter No.S-196/MBU/2007 dated April 4, 2007 regarding the loss of part of Porong - Gempol toll road assets and according to the Road Law No.38 of 2004 and the State Finance Law No.17 of 2003, the claim for losses should be submitted by the Government through the Departement of Public Works to PT Lapindo Brantas.
Pada tanggal 17 Juli 2007, melalui Surat Perusahaan No. AA.TN.02.1153, Perusahaan mengajukan tuntutan ganti rugi akibat genangan lumpur pada ruas jalan tol seksi Porong - Gempol kepada PT Lapindo Brantas. Klaim atas kerugian kehilangan pendapatan tol dan biaya tambahan lainnya akibat genangan lumpur pada ruas Porong - Gempol sampai dengan bulan Mei 2007 adalah sebesar Rp 24.724.788.651 (Rupiah penuh) dan klaim atas kerusakan jalan tol sebesar Rp 16.334.396.000 (Rupiah penuh).
On July 17, 2007, through the Company's Letter No.AA.TN.02.1153, the Company claim compensation caused by mud floods in Porong Gempol Section to PT Lapindo Brantas. The claim for loss of toll revenue and addition expenditures arising from mud in Porong - Gempol Section until May amounts to Rp 24,724,788,651 (full Rupiah) and the claim for damage to the toll road amounted to Rp 16,334,396,000 (full Rupiah).
Dalam Surat Perusahaan No.AA.KU.02.1268, tanggal 7 Agustus 2007 kepada Menteri Pekerjaan Umum, Perusahaan menyampaikan antara lain mengenai kesediaan Perusahaan untuk membiayai pembangunan relokasi ruas jalan tol Porong - Gempol dengan memperhitungkan pengembalian investasi dari tarif baru (termasuk pengembalian akibat tidak berfungsinya ruas jalan tol Porong-Gempol).
Based on the Company's Letter No.AA.KU.02.1268, dated August 7, 2007 to the Minister of Public Works, the Company delivered such of readiness to finance development for relocation Porong - Gempol toll road by estimate the reversion of investment from new tariff (included reversion caused by un-function Porong - Gempol toll road section).
Surat Ketua Dewan Pengarah Badan Penanggulangan Lumpur Sidoarjo/ Menteri Pekerjaan Umum No.20/DP-BPLS/2007, tanggal 24 September 2007 kepada Menteri Negara BUMN, menyebutkan antara lain mengenai usulan pelaksanaan konstruksi jalan tol Porong-Gempol dapat dilakukan oleh Perusahaan.
Letter of the Chairman of Direction Board of Mud Prevention Agency Sidoarjo/ the Minister of Public Works No.20/DP-BPLS/2007, dated September 24, 2007 to Minister of State-Owned Enterprises, Mentioned such of proposal construction implementation of Porong - Gempol toll road can be performed by the Company.
Pada tanggal 14 Januari 2008, melalui Surat Perusahaan No. AA.TN.02.50 kepada Menteri Negara BUMN, Perusahaan menyampaikan antara lain mengenai jumlah klaim total kerugian sampai dengan bulan Mei 2007 sebesar Rp 24.724.788.651 (Rupiah penuh), dan permohonan bantuan agar Pemerintah memfasilitasi melalui Biro Hukum dan Humas Kementerian BUMN dalam menyelesaikan permasalahan dengan PT Lapindo Brantas dengan musyawarah mufakat, dan apabila musyawarah mufakat tersebut tidak dapat ditempuh dapat mempertimbangkan untuk melakukan upaya hukum di Pengadilan.
On January 14, 2008, through the Company's Letter No. AATN.02.50 to the Minister of State-Owned Enterprises, the Company reported loss until May 2007 amounting to Rp 24,724,788,651 (full Rupiah), and requesting assistance from the Government to facilitate through Law Bureau and Public Relation of the Minister of State-Owned Enterprises in solving the problem with PT Lapindo Brantas by deliberation. Otherwise, the Company will take the case to the court.
Pada tanggal 13 Mei 2009, melalui Surat Perusahaan No.AA.TN.02.730 kepada Direktur Utama PT Lapindo Brantas, Perusahaan kembali mengajukan tuntutan ganti rugi akibat penutupan Ruas Jalan Tol Porong - Gempol. Adapun klaim atas kehilangan pendapatan tol dan
On May 13, 2009 through Letter No.AA.TN.02.730 to the President Director of PT Lapindo Brantas, the Company claimed compensation due to closure of the Porong-Gempol Toll Road Section. The claim for loss of toll revenue, loss of interest income and other expenses,
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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kehilangan keuntungan atas bunga sampai dengan periode Maret 2009, beserta biaya-biaya lainnya, termasuk biaya pembongkaran Jembatan Tol Porong adalah sebesar Rp 71.976.187.741 (Rupiah penuh).
including demolishing cost of Porong Toll Bridge until March 2009 totaling Rp 71,976,187,741 (full Rupiah).
Pada tanggal 17 September 2009, melalui surat Perusahaan No.AA.TN.02.1286 kepada Direktur Utama PT Lapindo Brantas, Perusahaan kembali mengajukan tambahan kenaikan besaran rugi atas kehilangan pendapatan tol sebesar Rp 76.942.149.750 (Rupiah penuh), dan kehilangan keuntungan atas bunga sampai dengan bulan Juni 2009 yakni sebesar Rp 4.965.962.009 (Rupiah penuh).
On September 17, 2009 through Letter No.AA.TN.02.1286 to the President Director of PT Lapindo Brantas, the Company claimed additional compensation for the loss of toll revenue amounting to Rp 76,942,149,750 (full Rupiah), and the loss of interest income until June 2009 amounting to Rp 4,965,962,009 (full Rupiah).
Pada tanggal 9 Pebruari 2010, Perusahaan mengirimkan surat No.AA.PR.02.94 tentang Relokasi Jalan Tol Ruas Porong-Gempol kepada BPJT yang ditembuskan kepada Menteri Negara BUMN. Surat tersebut dibuat dengan dasar bahwa Pemerintah (Kementerian PU) mempunyai rencana untuk melakukan relokasi terhadap jalan tol Ruas Porong - Gempol yang terendam luapan lumpur Sidoarjo.
On February 9, 2010, the Company sent Letter No.AA.PR.02.94 to BPJT, which copy forwarded to Minister of State-Owned Enterprises. The letter was made based on plan by government (Ministry of Public Works) to relocate Porong - Gempol Toll Road affected by the mudflow.
Sejak Mei 2011 Perusahaan telah melakukan aktivitas pembangunan relokasi jalan tol ruas Porong-Gempol, dan sampai 31 Desember 2014 perusahaan telah mengeluarkan dana sebesar Rp 560.081.076.284 (Rupiah penuh).
Since May 2011, the Company has constructed relocation of Porong–Gempol toll road, and until December 31 2014 the Company has spent Rp 560,081,076,284 (full Rupiah) for this project.
c. Gugatan Ganti Rugi dari Pemilik Tanah untuk Jalan Tol
c. Claims from Land Owners for Toll Road
Perusahaan masih menghadapi perkara litigasi/ gugatan dari beberapa orang yang mengklaim sebagai pemilik tanah yang tanahnya digunakan untuk pembangunan Ruas Jalan Tol JORR S, Jalan Tol JORR E1, Jalan Tol Sediyatmo, Jalan Tol JORR W2, Jalan Tol Pondok Aren-Ulujami, Jalan Tol Belmera (Gerbang Tol Mabar dan Kantor Cabang Belmera). Penanganan perkara litigasi tersebut masih dalam proses peradilan di Pengadilan Negeri, Pengadilan Tinggi dan kasasi di Mahkamah Agung.
The Company is still facing a litigation from certain persons who claimed to be the land owners whose land were used for JORR S Toll Road Section, JORR E1 Toll Road Section, Sediyatmo Toll Road, JORR W2 Toll Road Section, Pondok Aren-Ulujami Toll Road, Belmera Toll Road (Mabar Toll Gate and Belmera Branch Office). These claims are still processed in the District Courts, the High Courts and the Supreme Court.
d. Gugatan Terkait Perjanjian Kerjasama Bagi hasil Jalan Tol Jakarta-Cikampek Ruas Cawang-Cibitung dari PT Bangun Tjipta Sarana (BTS)
d. Lawsuit from PT Bangun Tjipta Sarana (BTS) Regarding Toll Revenue Sharing of Jakarta-Cikampek Toll Road Section Cawang-Cibitung
Perusahaan dan BTS telah menandatangani Perjanjian Kerjasama Bagi Hasil Pelebaran Jalan Tol Jakarta-Cikampek ruas Cawang-Cibitung. Perjanjian ini dinyatakan di dalam akta notaris No. 171 tanggal 17 Maret 1993, yang kemudian diubah dengan Akte No. 139 tanggal 15 Pebruari 1997 dan Akta No. 236 tanggal 23 September 2004 (selanjutnya disebut Perjanjian Bagi Hasil). BTS berkewajiban membangun atau melebarkan 2 lajur Jalan Tol tambahan dari arah Cawang ke arah Cibitung dan sebaliknya beserta sarana penunjangnya dan atas hal tersebut BTS akan mendapatkan bagi hasil sesuai dengan perjanjian.
The Company and PT Bangun Tjipta Sarana signed Agreement of Widening of Jakarta-Cikampek Toll Road Segment Cawang-Cibitung. This agreement was stated in notarial deed No. 171 dated March 17, 1993, and was later amended by notarial deed No. 139 dated February 15, 1997 and No. 236 dated September 23, 2004 (hereinafter referred to as Revenue-Sharing Agreement). BTS was obliged to build or widen additional two lane of the toll road from and to Cawang-Cibitung, along with its supporting facilities, and that was the underlying reason for BTS got the sharing revenue, in accordance with the related agreement.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Sampai ada kesepakatan rekonsiliasi data, Perusahaan menunda pembayaran atas bagi hasil pendapatan tol kepada BTS dan telah mencatat utang bagi hasil tersebut dalam laporan keuangan Catatan No. 8 tentang Beban Akrual sebesar Rp 66.098.674.437 (Rupiah penuh). Jumlah utang tersebut telah dibayarkan oleh perusahaan pada tanggal 10 September 2014.
Pada tanggal 13 Oktober 2014 sesuai dengan surat No. 04/BTS/X/2014 PT BTS mengajukan kompensasi atas keterlambatan pembayaran bagi hasil dimaksud. Di dalam Perjanjian Kerjasama Bagi hasil Pelebaran Jalan Tol Jakarta-Cikampek ruas Cawang-Cibitung tidak ada satu ketentuan pun yang mengatur terkait denda atau bunga akibat keterlambatan pembayaran bagi hasil pendapatan tol kepada BTS. Untuk itu atas tagihan kompensasi tersebut perusahaan meminta pendapat dan rekomendasi kepada Badan Pengawas Keuangan dan Pembangunan (BPKP) melalui surat No. AA.KS01.02.1137 tanggal 23 Oktober 2014. Sampai Laporan Keuangan 31 Desember 2014, belum ada hasil kajian dari BPKP tersebut.
Until there was a data reconciliation agreement, the Company had deferred payment of sharing revenue to BTS, and had recognized payable from revenue sharing in the financial statement and had disclosed it in the notes to financial statement No. 8 Accrued Expenses amounting to Rp 66,098,674,437 (full Rupiah). The payable was finally paid by the Company on September 10, 2014. On October 13, 2014 in the letter No. 04/BTS/X/2014, BTS requested some amount as compensation for the late payment of sharing revenue. In the Agreement of The Widening of Jakarta-Cikampek Toll Road Segment Cawang-Cibitung, there has never been a clause arranging penalty or interest for late payment of sharing revenue to BTS. For this, the Company requested for opinion and recommendation from Finance and Development Supervisory Agency (BPKP) in the Letter No. AA.KS01.02.1137 dated October 23, 2014. Up to financial statement December 31, 2014, there has been no response from BPKP.
e. Gugatan Terkait Perjanjian Kerjasama Bagi hasil Jalan Tol Jakarta-Cikampek Ruas Cikampek-Cibitung dari PT Bangun Tjipta Sarana (BTS)
e. Lawsuit to PT Bangun Tjipta Sarana (BTS) Regarding Toll Revenue Sharing of Jakarta-Cikampek Toll Road Section Cikampek-Cibitung
Saat ini Perusahaan sedang berperkara dengan BTS terkait Akta No.109 tanggal 16 Oktober 1992 beserta perubahannya. Perkara tersebut telah diputus ditingkat Mahkamah Agung pada tanggal 24 Juli 2012 dengan bunyi “Menolak permohonan kasasi dari para pemohon, 1. Perusahaan, 2. PT Bangun Tjipta Sarana”. Salinan resmi pemberitahuan isi putusan diterima oleh Perusahaan pada tanggal 24 April 2013.
The Company has litigated with BTS in accordance with notarial deed No. 109 dated October 16, 1992 along with its amendments. The case has been decided by the Supreme Court dated July 24, 2012 stated "Rejecting the appeal of the applicant, 1. The Company, 2. PT Bangun Tjipta Sarana". A copy of the official notification of the decision received by the Company on April 24, 2013.
Atas putusan tersebut, pada tanggal 9 Oktober 2013, Perusahaan mengajukan permohonan Peninjauan Kembali (PK) ke Pengadilan Negeri Jakarta Pusat dengan akta no: 20/SRT.PDT.PK/2013/ PN.JKT.PSTJo. Nomor: 200/PDT.G/2009/PN.JKT.PST Permohonan PK Perusahaan telah ditanggapi BTS dengan kontra memori PK yang telah dikirimkan ke Mahkamah Agung melalui Pengadilan Negeri Jakarta Pusat tanggal 16 Desember 2013.
Of that decision, on October 9, 2013, the Company filed a request for reconsideration to The Central Jakarta District Court by notarial deed No. 20/SRT.PDT.PK/2013/PN.JKT. PST Jo No: 200/PDT.G/2009/PN.JKT.PST. Bangun Tjipta Sarana respondes by filing counter against the reconsideration to Supreme Court through the Central Jakarta District Court on December 16, 2013.
Sampai Laporan Keuangan 31 Desember 2014, belum ada hasil atas permohonan PK tersebut.
Up to financial statement December 31, 2014, there are no results for the reconsideration.
f. Gugatan Perpanjangan Bagi Hasil Pendapatan Tol untuk Pelebaran Kebon Jeruk-Tangerang dari PT Tirtobumi Prakarsatama
f. Claim of Toll Revenue Sharing Against PT Tirtobumi Prakarsatama for Widening Kebon Jeruk – Tangerang Highway
Berdasarkan amandemen kerjasama bagi hasil pembangunan pelebaran jalan tol Jakarta - Merak No. 8 tanggal 28 Pebruari 2003, Perusahaan dan PT Adhika Prakarsatama telah menyepakati pengurangan masa kerjasama bagi hasil yang semula 18 tahun menjadi 17 tahun, 9 bulan dan berakhir pada 29 Pebruari 2012.
Based on the amendment regarding revenue sharing agreement of Jakarta - Merak toll road extension No. 8 dated February 28, 2003, the Company and PT Adhika Prakarsatama agreed to reduce the period of agreement from 18 years to 17 years and 9 months ended on February 29, 2012.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pada tanggal 4 Januari 2011 dan 2 Pebruari 2011 PT Tirtobumi Prakarsatama (dahulu bernama PT Adhika Prakarsatama) menyampaikan permohonan kepada Perusahaan untuk melakukan pengkajian perpanjangan masa kerjasama bagi hasil dan meminta Perusahaan meneruskan hal tersebut kepada Menteri Pekerjaan Umum. Alasan permohonan perpanjangan adalah karena PT Tirtobumi Prakarsatama berpendapat tidak ada kenaikan tarif tol dari tahun 1993 sampai dengan 2005. Masa perpanjangan kerjasama bagi hasil yang diajukan sekitar 24 tahun 2 bulan. Perusahaan telah menjawab permohonan tersebut dengan surat No. EC.HK.02.082 pada tanggal 9 Pebruari 2011 yang intinya menyatakan bahwa Perusahaan sedang mengkaji permohonan dimaksud.
On January 4, 2011 and February 2, 2011 PT Tirtobumi Prakarsatama (formerly named as PT Adhika Prakarsatama) submitted request to the Company to review the extension periods of revenue sharing agreement and urged the Company to forward the proposal to the Minister of Public Works. The reason of this proposal was due to PT Tirtobumi Prakarsatama claimed that there has never been toll rates increase which during the year 1993 to 2005. The extension periods proposed by PT Tirtobumi Prakarsatama was approximately 24 years 2 months. The Company responded the request with the letter No. EC.HK.02.082 dated February 9, 2011 which mainly stated that the Company is in the process of review the respective request.
Pada tanggal 7 Juni 2011 PT Tirtobumi Prakarsatama mengajukan gugatan di BANI (Badan Arbitrase Nasional Indonesia) dengan tuntutan sebagai berikut:
On June 7, 2011 PT Tirtobumi Prakarsatama sued the Company in the National Arbitration Board (BANI) with the following terms:
1. Mengabulkan permohonan PT Tirtobumi Prakarsatama untuk seluruhnya.
1. Accept the proposal for PT Tirtobumi Prakarsatama entirely.
2. Menyatakan Perusahaan tidak berhak dan/ atau berwenang untuk melakukan kajian dan/ atau mengambil pertimbangan apapun terkait permohonan perpanjangan masa kerjasama bagi hasil yang diajukan oleh PT Tirtobumi Prakarsatama melalui Perusahaan kepada pihak yang berwenang.
2. Declare that the Company has no right and/ or authorized to conduct the review and/ or take any considerations related to the proposal of extension periods of revenue sharing agreement that proposed by PT Tirtobumi Prakarsatama through the Company to the Authorities.
3. Kelalaian Perusahaan untuk meneruskan
permohonan perpanjangan masa kerjasama bagi hasil kepada pihak yang berwenang dapat menimbulkan kerugian bagi PT Tirtobumi Prakarsatama.
3. Omissions of the Company to forward the proposal to the Authorities may create damage for PT Tirtobumi Prakarsatama.
4. Memerintahkan Perusahaan untuk dengan segera meneruskan permohonan PT Tirtobumi Prakarsatama tersebut di atas kepada pihak yang berwenang.
4. Instruct the Company to immediately forward the proposal of PT Tirtobumi Prakarsatama to the Authorities.
5. Menghukum Perusahaan untuk mengganti segala
kerugian yang mungkin timbul sebagai akibat kelalaian tersebut di atas serta membayar seluruh biaya proses arbitrase ini, termasuk mengganti biaya-biaya yang telah dan akan dikeluarkan oleh PT Tirtobumi Prakarsatama.
5. Punish the Company to replace any losses that might arise as a result of that omissions and pay all any costs that arise from the arbitrase process, including replace that costs that have been and will be issued by PT Tirtobumi Prakarsatama.
BANI menerbitkan keputusan No. 406/VI/ARB-BANI/2011 pada tanggal 5 Januari 2012 dengan uraian sebagai berikut:
BANI issued the verdict No. 406/VI/ARB-BANI/2011 on January 5, 2012 with the following terms:
1. Mengabulkan permohonan PT Tirtobumi Prakarsatama untuk sebagian.
1. Consent the claim of PT Tirtobumi Prakarsatama partially.
2. Mewajibkan Perusahaan untuk menyampaikan dan mendiskusikan kajian mengenai perpanjangan kerjasama bagi hasil kepada PT Tirtobumi Prakarsatama dalam jangka waktu 30 hari sejak tanggal Putusan.
2. Obliged the Company to discuss the review with PT Tirtobumi Prakarsatama within 30 days from the date this decision pronounced.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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3. Mewajibkan Perusahaan dalam Jangka waktu 40 hari
sejak Putusan diterbitkan, untuk meneruskan permohonan PT Tirtobumi Prakarsatama disertai hasil Kajian Perusahaan kepada Menteri Pekerjaan Umum.
3. Obliged the Company to forward the request of PT Tirtobumi Prakarsatama along with the result of the review to the Minister of Public Works within 40 days from the date this decision pronounced.
4. Menolak permohonan PT Tirtobumi Prakarsatama
untuk selebihnya. 4. Rejected the rest of PT Tirtobumi Prakarsatama’s
claims. 5. Menyatakan Putusan ini merupakan Putusan dalam
tingkat pertama dan terakhir serta mengikat Para Pihak.
5. Declared the Verdict as the first decree and final and bounded all parties.
6. Memerintahkan kepada Sekretaris Majelis untuk mendaftarkan salinan Putusan ini ke Pengadilan Negeri Jakarta Pusat.
6. Asked to the Secretary Council to register the Verdict to Central Jakarta District Court.
BANI mendaftarkan keputusan No. 406/VI/ARB-BANI/2011 tanggal 5 Januari 2012 pada tanggal 30 Januari 2012 Ke Pengadilan Negeri Jakarta Pusat dan disampaikan kepada Para Pihak oleh BANI melalui surat No. 12.209/II/BANI/ED tanggal 7 Pebruari 2012 dengan tambahan amar Putusan menjadi sebagai berikut:
BANI has registered the above Verdict No. 406/VI/ARB-BANI/2011 on January 5, 2012 to Central Jakarta District Court on January 30, 2012 and delivered to all parties through letter No. 12.209/II/BANI/ED dated February 7, 2012 with additional verdict as follows:
1. Mengabulkan permohonan PT Tirtobumi Prakarsatama untuk sebagian.
1. Consent the claim of PT Tirtobumi Prakarsatama partially.
2. Mewajibkan Perusahaan untuk menyampaikan dan mendiskusikan kajian mengenai perpanjangan kerjasama bagi hasil kepada PT Tirtobumi Prakarsatama dalam jangka waktu 30 hari sejak tanggal Putusan diucapkan.
2. Obliged the Company to submit and discuss the review of extension of revenue sharing agreement with PT Tirtobumi Prakarsatama within 30 days from the date this decision pronounced.
3. Mewajibkan Perusahaan dalam Jangka waktu 40 hari
sejak Putusan diucapkan, untuk meneruskan permohonan PT Tirtobumi Prakarsatama disertai hasil Kajian Perusahaan kepada Menteri Pekerjaan Umum
3. Obliged the Company to forward the request of PT Tirtobumi Prakarsatama along with the result of the review to the Minister of Public Works within 40 days from the date this decision pronounced.
4. Menolak Permohonan PT Tirtobumi untuk
selebihnya. 4. Rejected the rest of PT Tirtobumi Prakarsatama’s
claims. 5. Menyatakan Putusan ini merupakan Putusan dalam
tingkat pertama dan terakhir serta mengikat Para Pihak.
5. Declared the Verdict as the first decree and final and bounded all parties.
6. Mewajibkan Perusahaan untuk mengembalikan setengah biaya administrasi sebesar Rp 255.000.000 (Rupiah penuh) kepada PT Tirtobumi Prakarsatama.
6. Oblige the Company to indemnify half of the administration fee amounting to Rp 255,000,000 (full Rupiah) to PT Tirtobumi Prakarsatama.
7. Memerintahkan kepada Sekretaris Majelis untuk
mendaftarkan salinan Putusan ini ke Pengadilan Negeri Jakarta Pusat.
7. Asked to the Secretary Council to register the Verdict to Central Jakarta District Court.
Pada tanggal 27 Pebruari 2012 Perusahaan telah melaksanakan keputusan BANI tersebut dengan mengirimkan hasil kajian dan permohonan perpanjangan kerjasama bagi hasil kepada Menteri Pekerjaan Umum.
On February 27, 2012, the Company has conducted BANI's Verdicts by forwarding the review and the proposal of extension periods of revenue sharing agreement to the Minister of Public Works.
Pada tanggal 15 Maret 2012, Perusahaan telah membayarkan setengah dari biaya perkara sebesar Rp 255.000.000 kepada PT Tirtobumi Prakarsatama.
On March 15, 2012, the Company has paid half of the administration fee amounting to Rp 255,000,000 to PT Tirtobumi Prakarsatama.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Terdapat perbedaan persepsi terhadap Putusan BANI: PT Tirtobumi Prakarsatama berpendapat bahwa hasil Putusan tersebut seharusnya dipenuhi setelah Putusan diterbitkan, sedangkan Perusahaan meyakini bahwa berdasarkan Hukum Arbitrase Pasal 59, seharusnya Putusan BANI dilaksanakan setelah Putusan didaftarkan ke Pengadilan Negeri.
There was different perception on BANI’s verdicts: PT Tirtobumi Prakarsatama believed that the verdicts should be executed after the verdicts declared, whereas the Company believed that based on Law of Arbitration Article 59, the verdicts should be executed after they were registered at District Court.
Berdasarkan perbedaan persepsi di atas, PT Tirtobumi Prakarsatama menuntut Perusahaan di Pengadilan Negeri Jakarta Timur dengan alasan Perusahaan tidak melaksanakan putusan BANI. Perkara ini telah diputuskan berdasarkan Putusan No. 64/PDT.G/2012/PN.JKT.TIM pada tanggal 10 Desember 2012 yang menyatakan bahwa Perusahaan harus mengganti rugi kepada PT Tirtobumi Prakarsatama sebesar Rp 1.247.576.000.000, atau setara dengan perpanjangan waktu bagi hasil tol selama 24 tahun 2 bulan.
Based on the different perception stated above, PT Tirtobumi Prakarsatama sued the Company in District Court of Jakarta Timur with the argument that the Company did not fulfill the BANI's verdicts. The claims had been declared based on the verdict No. 64/PDT.G/2012/PN.JKT.TIM on December 10, 2012, stated that the Company had to indemnify PT Tirtobumi Prakarsatama Rp 1,247,576,000,000, or equivalent to the extension period of the toll roads for 24 years and 2 months.
Atas putusan ini Perusahaan telah mengajukan upaya banding ke Pengadilan Tinggi DKI Jakarta, putusan banding telah dibacakan pada tanggal 15 Juli 2013 dengan inti putusan mengabulkan permohonan banding Perusahaan dan Menteri Pekerjaan Umum. dan membatalkan Putusan No. 64/PDT.G/2012/PN.JKT.TIM pada tanggal 10 Desember 2012.
According to the Verdict, the Company had registered the appeal statement to the Jakarta High Court, Appeal Verdict was read on July 15, 2013 which is stated to grant the appeal from The Company and the Minister of Public Works and to cancel the verdict No. 64/PDT.G/2012/PN.JKT.TIM on December 10, 2012.
Atas Putusan Pengadilan Tinggi DKI Jakarta tanggal 15 Juli 2013 dimaksud, PT Tirtobumi Prakarsatama mengajukan upaya hukum kasasi ke Mahkamah Agung dan pada 17 Pebruari 2014 perusahaan telah menerima pemberitahuan pernyataan kasasi tersebut beserta Memori Kasasi yang diajukan oleh PT Tirtobumi Prakarsatama. Selanjutnya tanggal 24 Pebruari 2014 Perusahaan telah menyampaikan Kontra Memori Kasasi ke Mahkamah Agung melalui Pengadilan Negeri Jakarta Timur. Perusahaan belum menerima putusan Kasasi sampai dengan 31 Desember 2014.
Over the Jakarta High Court Decision dated July 15, 2013 referred, PT Tirtobumi Prakarsatama filed an appeal to the Supreme Court and on February 17, 2014 the company has received notice of the appeal statement along with the memory of Appeal filed by PT Tirtobumi Prakarsatama . On February 24, 2014 the Company has delivered a Contra Appeal to the Supreme Court by the District Court of Jakarta Timur. The Company has not received the appeal decision as of December 31, 2014.
46. Segmen Operasi 46. Operating Segments
Perusahaan dikelola dan dikelompokkan dalam segmen usaha yang terdiri dari beberapa cabang sebagai berikut (dalam jutaan Rupiah):
The Company is managed and classified into bussines segments which consist of branches as follow (in million Rupiah):
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Pusat/ Jakarta Jakarta Lainnya/ Eliminasi/ Konsolidasian/
Head Office Cikampek Tangerang Others Elimination Consolidated
(Dalam Jutaan Rupiah/ In Million Rupiah)
Pendapatan/ Revenues
Total Pendapatan Segmen Dilaporkan/
Segmented Revenues 1,182,449 607,461 1,023,430 1,175,926 467,117 1,212,322 977,687 -- 6,646,392
Pendapatan Konstruksi/
Construction Revenues 243,104 -- -- -- -- -- 1,702,721 -- 1,945,825
Pendapatan Lainnya/
Others Income 12,203 11,709 21,222 18,618 9,138 35,295 885,289 (410,372) 583,102
Pendapatan Entitas/
Total Revenues 1,437,756 619,170 1,044,652 1,194,544 476,255 1,247,617 3,565,697 (410,372) 9,175,319
Laba Rugi/ Profit and Loss
Beban Usaha/
Operating Expenses (1,339,924) (327,934) (718,877) (306,161) (255,784) (395,326) (3,468,367) 413,820 (6,398,553)
Pendapatan Bunga/
Interest Income 204,188 173 260 79 135 281 60,382 -- 265,498
Biaya Keuangan/
Finance Charges (708,634) -- -- -- -- -- (506,686) -- (1,215,320)
Pendapatan (Beban) Lain/
Others Income (Expenses) (391,479) 30 1,738 (4,333) 2,348 2,455 391,013 -- 1,772
Bagian Laba-Rugi atas Entitas Asosiasi/
Net Equity on Associates (6,742) -- -- -- -- -- -- -- (6,742)
Laba (Rugi) Sebelum Pajak Penghasilan/
Profit (loss) Before Income Tax (804,835) 291,439 327,773 884,129 222,954 855,027 42,039 3,448 1,821,974
Beban Pajak Penghasilan/
Income Tax Expense (562,795) -- -- -- -- -- (43,847) -- (606,642)
Laba Tahun Berjalan/
Income for the Year 1,215,332
Aset Segmen Dilaporkan/
Segment Assets 461,122 2,464,892 2,919,549 4,536,267 1,703,185 6,975,584 16,132,798 (3,335,449) 31,857,948
Liabilitas Segmen Dilaporkan/
Segment Liabilities 9,186,625 90,031 170,881 109,331 77,868 201,477 10,655,962 (59,222) 20,432,952
31 Desember/ December 2014
Jagorawi Camareng Purbaleunyi
Pusat/ Jakarta Jakarta Lainnya/ Eliminasi/ Konsolidasian/
Head Office Cikampek Tangerang Others Elimination Consolidated
(Dalam Jutaan Rupiah/ In Million Rupiah)
Pendapatan/ Revenues
Total Pendapatan Segmen Dilaporkan/
Segmented Revenues 1,078,223 548,248 976,573 1,017,384 408,011 1,109,957 664,336 -- 5,802,732
Pendapatan Konstruksi/ 755,561 -- -- -- -- -- 3,204,978 -- 3,960,539
Construction Revenues
Pendapatan Lainnya/ 14,804 12,918 17,044 12,083 8,026 32,707 632,362 (221,747) 508,197
Others Income
Pendapatan Entitas/
Total Revenues 1,848,588 561,166 993,617 1,029,467 416,037 1,142,664 4,501,675 (221,747) 10,271,468
Laba Rugi/ Profit and Loss
Beban Usaha/ (1,682,831) (318,995) (702,594) (318,065) (212,903) (372,585) (4,421,798) 221,747 (8,233,542)
Operating Expenses
Pendapatan Bunga/ 184,808 140 258 97 113 245 42,410 -- 228,071
Interest Income
Biaya Keuangan/ (744,033) -- -- -- -- (65) (200,121) -- (944,219)
Finance Charges
Pendapatan (Beban) Lain/ (156,328) (1,760) 381 (4,975) (171) 1,528 109,790 -- (6,837)
Others Income (Expenses)
Bagian Laba-Rugi atas Entitas Asosiasi/
Net Equity on Associates (4,303) -- -- -- -- -- -- -- (4,303)
Laba (Rugi) Sebelum Pajak Penghasilan/
Profit (loss) Before Income Tax (554,098) 240,550 291,662 706,524 203,076 771,787 31,956 - 1,310,638
Beban Pajak Penghasilan/
Income Tax Expense (455,387) -- -- -- -- -- 73,537 -- (381,850)
Laba Tahun Berjalan/
Income for the Year 928,788
Aset Segmen Dilaporkan/
Segment Assets 2,024,060 2,208,130 2,607,762 3,648,177 1,475,152 6,121,268 15,656,602 (5,682,569) 28,058,582
Liabilitas Segmen Dilaporkan/
Segment Liabilities 8,654,120 48,228 186,867 105,370 53,003 202,189 8,307,608 (56,751) 17,500,634
31 Desember/ December 2013
Jagorawi Purbaleunyi Camareng
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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47. Laba Per Saham 47. Earnings Per Share
Pada tanggal 1 Nopember 2007, Perusahaan memperoleh pernyataan efektif dari BAPEPAM-LK melalui Surat No. S-5526/BL/2007 untuk melakukan penawaran umum perdana saham sebanyak 2.040.000.000 saham atas nama seri B dengan nilai nominal Rp 500 (Rupiah penuh) setiap saham (lihat Catatan 1.e dan 28). Perusahaan telah melakukan pembelian kembali atas saham yang beredar (Treasury Stocks) pada tahun 2008 sebanyak 8.758.000 lembar saham periode (4 Oktober 2008 - 6 Nopember 2008) dan sampai tahun 2009 perusahaan telah menarik kembali saham yang beredar sebanyak 24.523.500 lembar saham. Hal ini mengakibatkan jumlah rata-rata tertimbang saham yang beredar berubah menjadi sebanyak 6.775.840.609 lembar. Pada Tahun 2012 Perusahaan menjual kembali seluruh saham treasuri, sehingga pada tanggal 31 Desember 2014, jumlah rata-rata tertimbang saham yang beredar kembali menjadi 6.800.000.000 lembar. Laba bersih per saham dihitung dari laba tahun berjalan yang dapat diatribusikan kepada pemilik entitas induk dibagi dengan jumlah rata-rata tertimbang saham, dengan rincian sebagai berikut:
On November 1, 2007, the Company obtained effective statement from Bapepam-LK through Letter No. S-5526/BL/2007 for initial public offering as much as 2,040,000,000 shares of series B shares with a par value of Rp 500 (full Rupiah) per share (see Note 1.e and 28). The Company has made repurchase of shares outstanding (Treasury Stocks) in the year 2008 as many as 8,758,000 shares period (October 4, 2008 - November 6, 2008) and up in 2009 the Company has pulled back shares as many as 24,523,500 shares outstanding. This resulted in the weighted average number of shares turn out to be as much as 6,775,840,609 outstanding shares. In 2012, the Company has sold back all of the treasury shares,thereafter as of December 31, 2014, the weighted average number of shares become as much as 6,800,000,000 shares. Earnings per share is calculated from profit of the current year attributable to owners of the parent divided by the weighted average of outstanding shares, with details as follows:
2014 2013
Laba Bersih (Rupiah penuh) 1,403,427,971,222 1,027,661,163,287 Net Income (full Rupiah)
Rata-rata Tertimbang Weighted Average of
Saham Beredar (lembar) 6,800,000,000 6,800,000,000 Outstanding Shares (Shares)
Laba Bersih Per Saham (Rupiah penuh) 206.39 151.13 Earnings per Share (full Rupiah)
48. Kebijakan Manajemen Risiko 48. Risks Management Policy
Bisnis Grup mencakup aktivitas pengambilan risiko dengan sasaran tertentu dengan pengelolaan yang profesional. Fungsi utama dari manajemen risiko Perusahaan dan Entitas Anak adalah untuk mengidentifikasi seluruh risiko kunci, mengukur risiko-risiko ini dan mengelola sistem manajemen resiko.
Business of the Group include risk - taking activities with certain target by professional management. The main function of the risk management of the Company and its Subsidiaries is to identify all key risks, to measure these risks and manage risk positions.
Grup mendefinisikan risiko keuangan sebagai kemungkinan kerugian atau laba yang hilang, yang disebabkan oleh faktor internal maupun faktor eksternal yang berpotensi negatif terhadap pencapaian tujuan Perusahaan.
The Group define financial risk as the possibility of loss or lost profit, caused by internal factors as well as external factors that potentially negative impact on achievement of Company goals.
Tujuan Grup dalam mengelola risiko keuangan adalah untuk mencapai keseimbangan yang sesuai antara risiko dan tingkat pengembalian serta meminimalisasi potensi efek memburuknya kinerja keuangan Perusahaan.
The purpose of the Group in managing financial risks is to achieve an appropriate balance between risk and returns and minimize potential adverse effects of the financial performance of the Company.
Risiko keuangan utama yang dihadapi Grup adalah risiko kredit, risiko suku bunga, risiko likuiditas, risiko nilai tukar mta uang asing dan risiko perubahan kebijakan pemerintah, kondisi ekonomi dan sosial politik. Perhatian atas pengelolaan
The main financial risks facing by the Group are credit risk, interest rate risk, liquidity risk, foreign currency exchange rates and the risk of changes in government policy, socio - economic and political conditions. Attention to this risk
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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risiko ini telah meningkat secara signifikan dengan mempertimbangan perubahan dan volatilitas pasar keuangan di Indonesia dan internasional.
management has increased significantly by considering changes and financial market volatility in Indonesia and internationally.
a. Risiko Kredit a. Credit Risk
Risiko kredit adalah risiko dimana salah satu pihak atas instrumen keuangan akan gagal memenuhi kewajibannya dan menyebabkan pihak lain mengalami kerugian keuangan.
Credit risk is the risk that one party of a financial instrument will fail to meet its obligations and cause the other party suffered financial losses.
Instrumen keuangan Perusahaan yang mempunyai potensi atas risiko kredit terdiri dari kas dan setara kas di bank, piutang lain dan investasi tertentu. Jumlah eksposur risiko kredit maksimum sama dengan nilai tercatat atas akun-akun tersebut.
The Company's financial instruments that have the potential for credit risk consist of cash and cash equivalents in bank, other receivables and certain investments. Total maximum credit risk exposure equal to the carrying value of these accounts.
b. Risiko Mata Uang b. Currency Risk
Risiko mata uang adalah risiko fluktuasi nilai instrumen keuangan yang disebabkan perubahan nilai tukar mata uang asing.
Currency risk is the risk of fluctuations in the value of financial instruments due to changes in foreign currency exchange rates.
Pendapatan, pendanaan dan sebagian besar biaya operasi dari Grup, dilakukan dalam mata uang Rupiah, oleh karena itu Grup tidak memiliki eksposur yang signifikan terhadap fluktuasi nilai tukar mata uang asing.
Revenue, funding and most of the operating costs of the Group, made in the Rupiah currency, and therefore the Group do not have significant exposure to fluctuations in foreign currency exchange rates.
c. Risiko Likuiditas c. Liquidity Risk
Risiko Likuiditas adalah risiko di mana Grup akan mengalami kesulitan dalam rangka memperoleh dana untuk memenuhi komitmennya terkail dengan instrumen keuangan.
Liquidity risk is the risk in which the Group will experience difficulties in acquiring funds to meet commitments associated with financial instruments.
Grup mengelola risiko likuiditas dengan mempertahankan kas dan secara kas yang mencukupi untuk memungkinkan Grup dalam memenuhi komitmen Grup untuk operasi normal Grup. Selain itu Grup juga melakukan pengawasan proyeksi dan arus kas aktual secara terus menerus serta pengawasan tanggal jatuh tempo aset dan kewajiban keuangan.
The Group manages liquidity risk by maintaining cash and cash equivalents are sufficient to enable the Group to meet its commitment to the normal operation of the Group. In addition, the Group also controls the cash flow projections and actual and continuous monitoring maturity date of financial assets and liabilities.
d. Risiko Harga d. Price Risk Risiko harga adalah risiko fluktuasi nilai instrumen keuangan sebagai akibat perubahan harga pasar, terlepas dari apakah perubahan tersebut disebabkan oleh faktor - faktor spesifik dari instrumen individual atau penerbitnya atau faktor-faktor yang mempengaruhi seluruh instrumen yang diperdagangkan di pasar.
Price risk is the risk of fluctuations in the value of financial instruments as a result of changes in market prices, regardless of whether the change was caused by factors - specific factors of the individual instruments or the issuer or factors affecting all instruments traded in the market.
Grup memiliki risiko harga terutama karena investasi Grup atas aset keuangan yang diklasifikasikan dalam kelompok tersedia untuk dijual. Grup mengelola risiko harga dengan melakukan pengawasan internal oleh manajemen secara berkelanjutan.
The Group has a price risk primarily because the Group's investment of financial assets classified as available for sale. The Group manages the price risk by performing internal control by management in a sustainable manner.
e. Risiko Suku Bunga e. Interest Rate Risk Risiko bunga atas arus kas adalah risiko dimana arus kas masa datang suatu instrumen keuangan akan berfluktuasi akibat perubahan suku bunga pasar.
Interest on the cash flow risk is the risk that future cash flows of a financial instrument will fluctuate due to changes in market interest rates.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
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Eksposure terhadap suku bunga Grup dinilai rendah apabila ditinjau dari sisi Laporan Posisi Keuangan, namun Grup terus memonitor hal ini untuk meminimalkan dampak negatif terhadap perusahaan. Pinjaman yang dikeluarkan pada tingkat suku bunga variabel mengekspos Grup terhadap arus kas dari risiko tingkat suku bunga.
Group's exposure to interest rate is considered low when viewed from the side of the balance sheet, but continue to monitor these companies to minimize the negative impact on the company. Borrowings issued at variable interest rates expose the company to cash flows from interest rate risk.
f. Nilai Wajar f. Fair Value
Nilai wajar aset dan liabillitas keuangan diestimasi untuk keperluan pengakuan dan pengukuran atau untuk keperluan pengungkapan. Aset dan liabilitas keuangan Group yang diukur dan diakui pada nilai wajar adalah piutang dan utang derivatif.
The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. The Group’s financial assets and liabilities that are measured and recognised at fair value are derivative receivables and payables.
Nilai wajar untuk instrumen keuangan yang diperdagangkan di pasar aktif ditentukan berdasarkan kuotasi nilai pasar pada tanggal pelaporan. Kuotasi nilai pasar yang digunakan Grup untuk aset keuangan adalah harga penawaran (bid price), sedangkan untuk liabilitas keuangan menggunakan harga jual (ask price).
The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. The quoted market price used for financial assets held by the Group is the current bid price, while financial liabilities use ask price.
Nilai wajar instrumen keuangan yang tidak diperdagangkan di pasar aktif ditentukan dengan menggunakan teknik penilaian tertentu. Teknik tersebut menggunakan data pasar yang dapat diobservasi sepanjang tersedia, dan seminimal mungkin mengacu pada estimasi. Apabila seluruh input signifikan atas nilai wajar dapat diobservasi.
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on estimates. If all significant inputs required to fair value an instrument are observable.
Jika satu atau lebih input yang signifikan tidak berdasarkan data pasar yang dapat diobservasi. Teknik penilaian tertentu digunakan untuk menentukan nilai instrumen keuangan mencakup:
If one or more of the significant inputs is not based on observable market data. Specific valuation techniques used to value financial instrument include:
Penggunaan harga yang diperoleh dari bursa atau pedagang efek untuk instrumen sejenis dan;
The use of quoted market prices or dealer quotes for similar instruments and;
Teknik lain seperti analisis arus kas yang didiskonto digunakan untuk menentukan nilai instrumen keuangan lainnya.
Other techniques, such as discounted cash flows analysis, are used to determine fair value for the remaining financial instruments
Tabel di bawah ini menggambarkan nilai tercatat dan nilai wajar dari aset dan liabilitas keuangan:
The fair values of financial assets and liabilities, together with the carrying amounts, are as follow:
Nilai Tercatat/ Nilai Wajar/
Carrying Value Fair Value
Aset Keuangan
Kas dan Setara Kas 3,290,783,678 3,290,783,678 Cash and Cash Equivalents
Investasi Jangka Pendek 7,143,512 7,143,512 Short-Term Investments
Piutang Lain-lain - Lancar 148,828,618 148,828,618 Other Receivables - Current
Dana Ditetapkan Penggunaannya 816,903,789 816,903,789 Appropriated Funds
Aset Keuangan Lainnya 244,607,444 244,607,444 Investments in Associates
Jumlah 4,508,267,041 4,508,267,041 Total
2014
Financial Assets
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 124 Paraf:
Nilai Tercatat/ Nilai Wajar/
Carrying Value Fair Value
Liabilitas Keuangan Financial Liabilities
Utang Bank Jangka Pendek 610,499,778 610,499,778 Short-term Bank Loan
Utang Usaha 191,675,486 191,675,486 Accounts Payable
Utang Kontraktor 990,488,834 990,488,834 Contractors Payable
Utang Lain-lain 73,661,131 73,661,131 Other Payables
Liabilitas Jangka Panjang yang Jatuh Tempo Current Maturities of Long - Term
dalam Satu Tahun Liabilities
Utang Bank 43,161,208 43,161,208 Bank Loans
Liabilitas Pembebasan Tanah 1,500,719,209 1,500,719,209 Land Acquisition Liabilities
Utang Sewa Pembiayaan 15,484,840 15,484,840 Capital Lease Payable
Provisi Pelapisan Jalan Tol 209,396,402 209,396,402 Provision for Overlay
Liabilitas Jangka Panjang-Setelah Dikurangi Long - Term Liabilities Net of Current
Bagian yang Jatuh Tempo dalam Satu Tahun Maturity
Utang Bank 6,484,840,290 6,484,840,290 Bank Loans
Utang Obligasi 6,144,430,063 6,144,430,063 Bonds Payable
Liabilitas Kerjasama Operasi 22,206,213 22,206,213 Joint Operation Liabilities
Liabilitas Pembebasan Tanah 1,369,223,143 1,369,223,143 Land Acquisition Liabilities
Utang Sewa Pembiayaan 34,479,992 34,479,992 Capital Lease Payable
Provisi Pelapisan Jalan Tol 156,712,195 156,712,195 Provision for Overlay
Liabilitas Jangka Panjang Lainnya 819,424,909 819,424,909 Other Long Term Liabilities
Jumlah 18,666,403,693 18,666,403,693 Total
2014
Manajemen Permodalan Capital Management Tujuan dari Grup dalam mengelola permodalan adalah untuk melindungi kemampuan entitas dalam mempertahankan kelangsungan usaha, sehingga entitas dapat tetap memberikan hasil bagi pemegang saham dan manfaat bagi pemangku kepentingan lainnya, dan untuk memberikan imbal hasil yang memadai kepada pemegang saham dengan menentukan harga produk dan jasa yang sepadan dengan tingkat risiko.
The Group purpose in managing capital is to protect the ability of the entity in maintaining business continuity, so that entities can still deliver results for shareholders and benefits for other stakeholders, and to provide adequate returns to shareholders by pricing products and services that are commensurate with the level of risk.
Grup menetapkan sejumlah modal sesuai proporsi terhadap risiko. Perusahaan mengelola struktur modal dan membuat penyesuaian dengan memperhatikan perubahan kondisi ekonomi dan karakteristik risiko aset yang mendasari. Konsisten dengan Perusahaan lain dalam industri, Perusahaan memonitor modal dengan dasar rasio utang terhadap modal yang disesuaikan. Rasio ini dihitung sebagai berikut: utang neto dibagi modal yang disesuaikan. Utang neto merupakan total utang (sebagaimana jumlah dalam laporan posisi keuangan) dikurangi kas dan setara kas. Modal yang disesuaikan terdiri dari seluruh komponen ekuitas (meliputi modal saham, selisih kurs penjabaran laporan keuangan dalam valuta asing dan saldo laba). Selama tahun 2014, strategi Perusahaan tidak berubah yaitu mempertahankan rasio utang terhadap modal sebesar maksimum 5:1. Rasio utang terhadap modal pada 31 Desember 2014 adalah sebagai berikut:
The Group set a number of capitals in proportion to the risk. The Company manages its capital structure and makes adjustments taking into account changes in economic conditions and risk characteristics of the underlying asset. Consistent with other companies in the industry, the Company monitors capital on the basis of the ratio of adjusted debt to capital. This ratio is calculated as follows: net debt divided by adjusted capital. Net debt is total debt (as the amount in the statement of financial position) less cash and cash equivalents. Adjusted capital comprises all components of equity (including capital stock, foreign exchange translation adjustment of foreign currency and retained earnings). During the year 2014, the Company's strategy has not changed, namely, to maintain the debt to equity ratio at maximum 5:1. The ratio of debt to equity as at December 31, 2014 are as follows:
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 125 Paraf:
2014
Rp
Liabilitas Jangka Pendek 4,312,916,751 Short-term Liabilities
Liabiltas Jangka Panjang 16,120,035,609 Long-term Liabilities
Total Liabilitas 20,432,952,360 Total Liabilities
Total Ekuitas 11,424,995,629 Total Equity
Rasio Utang terhadap Ekuitas 1.8 : 1 Debt to Equity Ratio
49. Sumber Estimasi Ketidakpastian dan 49. Source of Uncertainty Estimation and Pertimbangan Akuntansi yang Penting Critical Accounting Judgements
Grup membuat estimasi dan asumsi mengenai masa depan.
Estimasi dan pertimbangan yang digunakan dalam
penyusunan laporan keuangan terus dievaluasi berdasarkan
pengalaman historis dan faktor lainnya, termasuk ekspektasi
dari peristiwa masa depan yang diyakini wajar. Walaupun
estimasi ini dibuat berdasarkan pengetahuan terbaik
manajemen atas kejadian dan tindakan saat ini, hasil yang
timbul mungkin berbeda dengan jumlah yang diestimasi
semula. Asumsi dan pertimbangan yang memiliki pengaruh
signifikan terhadap jumlah tercatat aset dan liabilitas
diungkapkan di bawah.
The Group makes estimates and assumptions concerning the future. Estimates and considerations used in the preparation of financial statements continue to be evaluated based on historical experience and other factors, including expectations of future events that are believed reasonable. Although these estimates are based on management's best knowledge of current events and actions, actual results may differ from those estimates. Assumptions and considerations have a significant effect on the carrying amount of assets and liabilities disclosed in below.
Estimasi dan Asumsi Akuntansi yang Penting Estimation and Significant Accounting Assumption Asumsi utama masa depan dan sumber utama estimasi ketidakpastian lain pada tanggal pelaporan yang memiliki risiko signifikan bagi penyesuaian yang material terhadap nilai tercatat aset dan liabilitas untuk tahun berikutnya diungkapkan di bawah ini. Perusahaan mendasarkan asumsi dan estimasi pada parameter yang tersedia pada saat laporan keuangan disusun. Asumsi dan situasi mengenai perkembangan masa depan mungkin berubah akibat perubahan pasar atau situasi di luar kendali Perusahaan. Perubahan tersebut dicerminkan dalam asumsi terkait pada saat terjadinya.
The main assumptions of the future and the main source of estimation uncertainty on another reporting date that have significant risk of material adjustment to the carrying value of an asset and a liability for the following year is disclosed below. The company based its assumptions and estimation on parameters that are available at the time the financial statements drawn up. Assumptions and the situation regarding future developments may change due to changes in the market or the situation beyond the control of the company. The changes are reflected in the related assumptions at the time of the occurrence.
Estimasi Umur Manfaat Aset Tetap dan Aset Takberwujud -
Hak Konsesi Pengusahaan Jalan Tol
Estimated of Useful Lives of Property, Equipment, and Intangible Asset - Toll Road Concession Rights
Perusahaan melakukan penelahaan berkala atas masa manfaat ekonomis aset tetap dan hak konsesi pengusahaan jalan tol berdasarkan faktor-faktor seperti kondisi teknis, perkembangan teknologi di masa depan dan masa konsesi. Hasil operasi di masa depan akan dipengaruhi secara material atas perubahan estimasi ini yang diakibatkan oleh perubahan faktor yang telah disebutkan di atas. Nilai tercatat asset tetap dan asset tidak berwujud disajikan di catatan 12 dan 13.
The Company periodically reviews the useful lives of the fixed assets and toll road concession rights expectation based on technical specification and technology development in the future and the length of concession. Operating results in the future will be affected by the estimated changes of those factors.Carrying amount of Property, Equipment, and Intangible Assets are disclosed in note 12 and 13.
Estimasi Marjin Konstruksi Estimated of Construction Margin Interpretasi Standar Akuntansi Keuangan yang berlaku mensyaratkan pendapatan konstruksi diakui sebesar nilai wajarnya. Perusahaan menentukan profit atau margin konstruksi dalam menghitung nilai wajar pendapatan konstruksi tersebut berdasarkan estimasi terbaik manajemen yang dihitung dengan model tertentu.
The accepted interpretation of accounting standard required that the construction revenue recognized at their fair value. The company determined the profit or construction margin in calculating the fair value of construction margin based on management estimation calculated in certain model.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 126 Paraf:
Imbalan Pasca Kerja Karyawan Nilai kini liabilitas imbalan pasca kerja tergantung pada beberapa faktor yang ditentukan dengan dasar aktuarial berdasarkan beberapa asumsi. Asumsi yang digunakan untuk menentukan biaya (penghasilan) pensiun neto mencakup tingkat diskonto. Perubahan asumsi ini akan mempengaruhi jumlah tercatat imbalan pasca kerja. Perusahaan dan entitas anak menentukan tingkat diskonto yang sesuai pada akhir periode pelaporan, yakni tingkat suku bunga yang harus digunakan untuk menentukan nilai kini arus kas keluar masa depan estimasian yang diharapkan untuk menyelesaikan liabilitas. Dalam menentukan tingkat suku bunga yang sesuai Perusahaan dan entitas anak mempertimbangkan tingkat suku bunga obligasi pemerintah yang didenominasikan dalam mata uang imbalan akan dibayar dan memiliki jangka waktu yang serupa dengan jangka waktu liabilitas yang terkait. Asumsi kunci liabilitas imbalan pasca kerja sebagian ditentukan berdasarkan kondisi pasar saat ini.
Post-Employment Employee Benefits The present value of post-employment benefits liability depends on several factors which are determined by actuarial basis based on several assumptions. Assumptions used to determine the cost (income) includes net pension discount rate. Changes in these assumptions will affect the carrying amount of post-employment benefits. The Company and subsidiary determining the appropriate discount rate at the end of the reporting period, namely the interest rate should be used to determine the present value of future cash outflows expected to settle estimasian liability. In determining the appropriate interest rate, the Company and subsidiary companies considering an interest rate of government bonds denominated in the currency exchange will be paid and have a similar time with a corresponding liability period. Other key assumption for post employment benefirs liabilities are based in part on current market condition.
Provisi Pelapisan Jalan Tol Biaya pelapisan ini akan dicadangkan secara berkala berdasarkan estimasi seiring dengan penggunaan jalan tol oleh pelanggan. Provisi diukur dengan nilai kini atas estimasi manajemen terhadap pengeluaran yang diperlukan untuk menyelesaikan liabilitas kini pada tanggal pelaporan.
Provision for Overlay The cost of this overlay will periodically be provision based on estimation with the utilization of toll road by customers. This provision is measured using the present value of management‘s estimate of expenditures required to settle present obligation at the reporting date.
Pertimbangan Penting dalam Penentuan Kebijakan
Akuntansi
Significant Judgments in Determination of Accounting Policy
Pertimbangan berikut ini dibuat oleh manajemen dalam rangka penerapan kebijakan akuntansi Perusahaan yang memiliki pengaruh paling signifikan atas jumlah yang diakui dalam laporan keuangan.
These following judgments were made by management in order the adoption of accounting policy of the company which has the most significant impact on the recognized amount in financial statement.
Klasifikasi Aset dan Liabilitas Keuangan Classification Financial Asset and Liability Perusahaan menetapkan klasifikasi atas aset dan liabilitas tertentu sebagai aset keuangan dan liabilitas keuangan dengan mempertimbangkan bila definisi yang ditetapkan oleh standar akuntansi dipenuhi. Dengan demikian, aset keuangan dan liabilitas keuangan diakui sesuai dengan kebijakan akuntansi Perusahaan seperti diungkapkan pada Catatan 2.d.
The Company determines the classifications of certain assets and liabilities as financial assets and financial liabilities by judging if they meet the definition set forth in the accountant standards. Accordingly, the financial assets and financial liabilities are accounted for in accordance with the Company’s accounting policies disclosed in Note 2.d.
Pengakuan dan Pengukuran Aset Takberwujud Hak Konsesi
Pengusahaan Jalan Tol
Recognition and Measurement of Intangible Asset – Toll
Road Concession Rights Perusahaan mengakui aset takberwujud sejauh Perusahaan memiliki hak (lisensi) untuk membebankan pengguna jasa publik. Suatu hak untuk membebankan pengguna jasa publik. Suatu hak untuk membebankan pengguna jasa publik bukan merupakan hak tanpa syarat untuk menerima kas karena jumlahnya bergantung pada sejauh mana publik menggunakan jasa.
The company recognized intangible assets to the extent that the company owned right (license) to charge the public. A right to charge users of the public service. A right to charge users of the public service is not an unconditional right to receive cash because the amount depends on the extent to which the public using the service.
Sifat imbalan yang diberikan oleh pemberi konsesi kepada
Perusahaan akan ditentukan dengan mengacu pada syarat
kontrak dan, jika ada, hukum kontrak yang relevan.
The nature of the rewards given by the concession principal
to the Company will be determined by reference to the terms
of the contract and, if applicable, the relevant contract law.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 127 Paraf:
Reklasifikasi pada Saat Transisi Reclassification during Transition
Berdasarkan rencana bisnis yang merupakan bagian tidak
terpisahkan dari Perjanjian Pengusahaan Jalan Tol yang
mengikat keseluruhan aset yang diperjanjikan sebagai satu
kesatuan aset, maka gedung kantor termasuk aset dalam
kategori yang menyatu dengan jalan tol, sehingga
direklasifikasikan sebagai bagian aset takberwujud konsesi
jasa pengelolaan jalan tol.
Based on a business plan that is inseparable part from the toll
road concession agreement which binds all assets that are
enforced as a single entity, the Office building including
assets in the category which merges with the highways, so its
reclassified as a part of intangible asset of toll road service
concessions.
Aset Takberwujud Lainnya Other Intangible Asset
Hak konsesi jalan tol mulai berlaku efektif sejak diterbitkan
Surat Perintah Mulai Kerja (SPMK) oleh BPJT, sehingga
biaya-biaya yang dikeluarkan sebelum kegiatan konstruksi
dimulai atau biaya pra konstruksi jalan tol, termasuk biaya
pembebasan lahan atau tanah ditangguhkan dan belum
diklasifikasikan sebagai aset takberwujud - konsesi jasa
pengusahaan jalan tol.
The toll road concession rights effective from order start
working letter published by BPJT, so that the costs incurred
before the construction activities started or pre-construction
costs of toll roads, including the cost of land or soil acquisition
suspended and has not been classified as intangible asset of
toll road service concessions.
50. Aktivitas Non Kas 50. Non Cash Activities
Informasi tambahan atas laporan arus kas terkait aktivitas investasi non kas adalah sebagai berikut:
Supplemental cash flows information of non cash investing activities is as follows:
2014 2013
Rp Rp
Aset Sewa Pembiayaan -- 4,697,319 Capital Lease Assets
Aset Takberwujud - Intangible Assets -
Hak Pengusahaan Jalan Tol 24,757,377 89,890,149 Toll Road Concession Rights
Jumlah 24,757,377 94,587,468 Total
51. Peristiwa Setelah Periode Pelaporan 51. Event After Reporting Period
Sesuai dengan Berita Acara RUPSLB yang disahkan dengan
akta notaris dari Aryanti Artisari, S.H., M.Kn., PT Jakarta
Propertindo memutuskan, salah satunya, mengangkat Bapak
Ir. Abdul Hadi Hs., M.M. sebagai Direktur Utamanya. Terkait
hal tersebut, Bapak Ir. Abdul Hadi Hs., M.M telah
mengundurkan diri sebagai Direktur Pengembangan Usaha
Perusahaan sesuai dengan Surat No. DA.03 tanggal 21
Januari 2015. Perusahaan melalui Surat No. AA.KP05.83
tanggal 22 Januari 2015 telah menunjuk Bapak Ir. Hasanudin,
M.Eng. Sc. sebagai pejabat pengganti sementara sampai
dengan diselenggarakannya RUPS Perusahaan.
In accordance with the Minutes of the Extraordinary General Meeting Of Shareholders which authorized by notarial deed of Aryanti Artisari, S.H, M.Kn., PT Jakarta Propertindo decided, among other things, appointed Mr. Ir. Abdul Hadi Hs., M.M. as its CEO. Related to that, Mr. Ir. Abdul Hadi Hs., M.M., has resigned as the Director of Business Development of the Company as stated in the Letter No. DA.03 dated January 21, 2015. The Company by Letter No. AA.KP05.83 dated January 22, 2015 has appointed Mr. Ir. Hasanuddin, M.Eng. Sc. as the temporary substitute functionary until the Company holds the next General Meeting Of Shareholders.
Susunan Direksi dan Komisaris Perusahaan per tanggal 22 Januari 2015 sebagai berikut:
The Company’s Board of Directors and Commissioners as of January 22, 2015 are as follows:
Direksi/Directors Direktur Utama Ir. Adityawarman President Director Direktur Operasi Ir. Hasanudin, M.Eng.Sc Operation Director Direktur Keuangan Ir. Reynaldi Hermansjah Finance Director Direktur Pengembangan Usaha Ir. Hasanudin, M.Eng.Sc (PLT) Business Development Director
Direktur Sumber Daya Manusia dan Umum Ir. Muh. Najib Fauzan, Msc Human Capital Affairs Development Director
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 128 Paraf:
Komisaris/ Commissioners Komisaris Utama Ir. Agoes Widjanarko, MIP President Commissioner Komisaris Ibnu Purna Muchtar, S.E, MA Commissioner Komisaris Dr. Boediarso Teguh Widodo,M.E. Commissioner Komisaris Prof. Dr. Akhmad Syakhroza Commissioner Komisaris (Komisaris Independen) Mayjen. (Purn) Samsoedin Commissioner (Independent Commissioner)
Komisaris (Komisaris Independen) Irjen Polisi (Purn) Drs. Michael
Dendron Primanto, SH, MH Commissioner (Independent Commissioner)
52. Standar Akuntansi Baru 52. New Prospective Accounting Standards
Standar baru, revisi dan interpretasi yang telah diterbitkan, namun belum berlaku efektif untuk tahun buku yang dimulai pada atau setelah tanggal 1 Januari 2014 adalah sebagai berikut:
New standards, amendments and interpretations issued but not yet effective for the financial year beginning 1 January 2014 are, as follows:
- PSAK 1 (revisi 2013) “Penyajian Laporan Keuangan” - PSAK 1 (revised 2013) “Presentation of Financial
Statements” - PSAK 4 (revisi 2013) “Laporan Keuangan Tersendiri” - PSAK 4 (revised 2013) “Separate Financial Statements” - PSAK 15 (revisi 2013) “Investasi pada entitas asosiasi
dan ventura bersama” - PSAK 15 (revised 2013) “Investment in Associates and
Joint Ventures” - PSAK 24 (revisi 2013) “Imbalan Kerja” - PSAK 24 (revised 2013) “Employee Benefits” - PSAK 46 (revisi 2013) “Pajak Penghasilan” - PSAK 46 (revised 2013) “Income Taxes” - PSAK 48 (revisi 2013) "Penurunan Nilai” - PSAK 48 (revised 2013) “Impairment” - PSAK 50 (revisi 2013) “Instrumen Keuangan:
Penyajian” - PSAK 50 (revised 2013) “Financial Instrument:
Presentation” - PSAK 55 (revisi 2013) “Instrumen Keuangan:
Pengakuan dan Pengukuran” - PSAK 55 (revised 2013) “Financial Instrument:
Recognition and Measurement" - PSAK 60 (revisi 2013) “Instrumen Keuangan:
Pengungkapan” - PSAK 60 (revised 2013) "Financial Instrument:
Disclosure” - PSAK 65 “Laporan Keuangan Konsolidasian” - PSAK 65 “Consolidated Financial Statement” - PSAK 66 “Pengaturan Bersama” - PSAK 66 “Joint Arrangements” - PSAK 67 “Pengungkapan Kepentingan dalam Entitas
Lain” - PSAK 67 “Disclosure of Interests in Other Entities”
- PSAK 68 “Pengukuran Nilai Wajar - PSAK 68 “Fair Value Measurement” - ISAK 26 (revisi 2013) “Penilaian Ulang Derivative” - ISAK 26 (revised 2013) “Revaluation of Embedded
Derivative” - Pencabutan PSAK 12 (revisi 2009) “Bagian Partisipasi
Ventura Bersama” - Withdrawal of PSAK 12 (revised 2009)“Interest in Joint
Venture” - Pencabutan ISAK 12 "Pengendalian bersama Entitas:
Kontribusi Non Moneter oleh Venturer" - Withdrawal of ISAK 12 "Jointly controlled entities: Non
Monetary Contribution by Venturers" - Pencabutan ISAK 7 "Konsolidasi Entitas Bertujuan
Khusus"
- Withdrawal of ISAK 7 "Consolidation - Special Purpose Entities"
Revisi, standar baru dan pencabutan atas standar di atas akan berlaku efektif pada tahun buku yang dimulai 1 Januari 2015 dan penerapan dini tidak diperkenankan.
The revised, new standards and withdrawal of standards above will become effective for the annual period beginning 1 January 2015 and early adoption is not permitted
Pada tanggal pengesahan laporan keuangan konsolidasian, manajemen masih mempelajari dampak yang mungkin timbul dari penerapan SAK baru dan revisi tersebut terhadap laporan keuangan konsolidasian.
As at the authorisation date of these consolidated financial statements, the management still evaluating the potential impact of these new and revised PSAK to its consolidated financial statements.
PT JASA MARGA (PERSERO) Tbk PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)
Untuk Tahun-tahun yang Berakhir pada For the Years Ended 31 Desember 2014 dan 2013 December 31, 2014 and 2013 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) (In Thousand Rupiah, Unless Otherwise Stated)
d1/February 6, 2015 129 Paraf:
53. Reklasifikasi Akun 53. Reclassification of Accounts
Beberapa Akun dalam laporan keuangan konsolidasian pada tanggal dan untuk tahun yang berakhir pada tanggal 31 Desember 2013 dan 2012 telah direklasifikasi agar sesuai dengan penyajian laporan keuangan konsolidasian pada tanggal dan untuk tahun yang berakhir pada tanggal 31 Desember 2014. Rincian reklasifikasi akun tersebut adalah sebagai berikut
Certain accounts in the consolidated financial statements as of and for the year ended December 31, 2013 and 2012 have been reclassified to conform with the presentation of the consolidated financial statements as of and for the year ended December 31, 2014. The detail of the accounts reclassification are as follows:
Sebelum Reklasifikasi/ Setelah
Reklasifikasi/ Reclassifications Reklasifikasi/
Before After
Reclassifications Reclassifications
Rp Rp Rp
Laporan Posisi Keuangan Consolidated Statement of
Konsolidasian Financial Position
Liabilitas Liabilities
Utang Bank Jangka Pendek -- 655,840,348 655,840,348 Short-term Bank Loan
Liabilitas Jangka Panjang yang Current Portion of
Jatuh Tempo dalam Satu Tahun: Long - Term Liabilities:
Utang Bank 951,057,511 (655,840,348) 295,217,163 Bank Loan
31 Desember/ December 2013
Sebelum Reklasifikasi/ Setelah
Reklasifikasi/ Reclassifications Reklasifikasi/
Before After
Reclassifications Reclassifications
Rp Rp Rp
Laporan Posisi Keuangan Consolidated Statement of
Konsolidasian Financial Position
Liabilitas Liabilities
Utang Bank Jangka Pendek -- 1,380,028,297 1,380,028,297 Short-term Bank Loan
Liabilitas Jangka Panjang yang Current Portion of
Jatuh Tempo dalam Satu Tahun: Long - Term Liabilities:
Utang Bank 1,640,778,297 (1,380,028,297) 260,750,000 Bank Loan
31 Desember/ December 2012
54. Tanggung Jawab Manajemen atas Laporan 54. The Management’s Responsibility on the Keuangan Konsolidasian Consolidated Financial Statements
Manajemen Perusahaan bertanggung jawab atas penyusunan dan penyajian laporan keuangan konsolidasian yang diotorisasi untuk terbit tanggal 28 Januari 2015.
The Company’s management is responsible for the preparation and presentation of the consolidated financial statements that were authorized for issued on January 28, 2015.
www.jasamarga.com
PT Jasa Marga (Persero) Tbk.Plaza Tol Taman Mini Indonesia IndahJakarta, 13550 Indonesia
Telp. : +6221 841 3630, +6221 841 3526Fax. : +6221 841 3540Email : [email protected]
A N N U A L R E P O R T2014