STRENGTHENING OUR POSITION AS A LEADING ICONIC … · tumbuh stabil dan positif memberikan pengaruh...

Laporan Tahunan Annual Report

STRENGTHENINGOUR POSITION AS

A LEADING ICONIC COMMERCIAL

PROPERTYDEVELOPER

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Laporan Tahunan 2018 PT Indonesian Paradise Property Tbk disusun dan diterbitkan berdasarkan Peraturan Otoritas Jasa Keuangan Nomor 29/POJK.04/2016 tanggal29 Juli 2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik, Surat Edaran Otoritas Jasa Keuangan Nomor 30/SEOJK.04/2016 Tentang Bentuk dan Isi Laporan Tahunan Emiten Atau Perusahaan Publik, serta Keputusan Direksi PT Bursa Efek Jakarta Nomor Kep-306/BEJ/07-2004 tentang Peraturan Nomor I-E mengenai Kewajiban Penyampaian Informasi.

Tujuan utama penyusunan Laporan Tahunan ini adalah untuk meningkatkan k e t e r b u k a a n informasi Perseroan yang ditunjukkan dalam lingkup eksternal dan internal. Selain itu, Laporan Tahunan ini juga memberikan gambaran kinerja serta pengelolaan Perseroan serta p e r b a n d i n g a n nya dengan tahun 2017. Melalui laporan ini, seluruh Pemangku Kepentingan dapat memperoleh informasi yang memadai terkait kebijakan serta pencapaian Perseroan selama tahun 2018.

Laporan Tahunan 2018 PT Indonesian Paradise Property Tbk disajikan dalam dua bahasa, Bahasa Indonesia dan Bahasa Inggris dengan menggunakan jenis dan ukuran huruf yang mudah dibaca dan dipahami serta dicetak dengan kualitas baik. Sistem penulisan angka dalam semua tabel di dalam Laporan Tahunan ini menggunakan sistem penulisan angka dalam Bahasa Indonesia.

Laporan Tahunan ini dapat diunduh di website resmi Perseroan di www.theparadise-group.com.

The 2018 Annual Report of PT Indonesian Paradise Property Tbk is prepared and published pursuant to the Regulation of Financial Services Authority No. 29/POJK.04/2016 dated 29 July 2016 regarding Annual Report of Issuer or Public Company, the Circular Letter of Financial Services Authority No. 30/SEOJK.04/2016 regarding Form and Contents of Annual Report of Issuer or Public Company, and the Decision of Board of Directors of PT Bursa Efek Jakarta No. Kep-306/BEJ/07-2004 regarding Regulation No. I-E on the Obligation to Disclose Information.

This Annual Report is primarily drawn up to enhance the Company’s i n f o r m a t i o n disclosure within internal and external environment. In addition, this Annual Report provides an overview on the Company’s m a n a g e m e n t performance in 2018 and its comparison with that of 2017. With

the publication of this report, it is expected that all Stakeholders will have adequate information about the Company, its policies and achievements in 2018.

The 2018 Annual Report of PT Indonesian Paradise Property Tbk is presented bilingually, in Indonesian Language and English, uses font type and size that is easily read and understood, and is printed with good quality. All numbers written in the tables within this Annual Report follows the numbering system applicable in Indonesia.

This Annual Report can be downloaded from the Company’s official website:www.theparadise-group.com.

About Annual Report of PT Indonesian Paradise

Property Tbk

TENTANG LAPORAN TAHUNAN

PT INDONESIAN PARADISE PROPERTY Tbk

2018

PT Indonesian Paradise Property Tbk

Pendahuluan

.fx Sudirman PlazaJakarta

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A B C D E F G H

Theme Explanation

PENJELASANTEMA

2018

Perkembangan perekonomian Indonesia yang tumbuh stabil dan positif memberikan pengaruh pada pertumbuhan kinerja bisnis perhotelan. Pada tahun 2018, Hunian Kamar (Occupancy Rate) pada hotel bintang di Indonesia relatif stabil dan mampu mencapai 59,75% atau mengalami peningkatan dibandingkan tahun 2017 sebesar 59,53%.

Mencermati kondisi ini, kami senantiasa bekerja keras membangun dan mempertahankan reputasi dengan mengokohkan komitmen untuk kesempurnaan mutu dan kepuasan pelanggan. Kesetiaan dan kebanggaan terhadap profesi, kami buktikan dengan secara konsisten mengembangkan bisnis pada segmen yang telah terbukti memiliki keunggulan dan proposisi nilai yang kuat, serta tetap fokus mengembangkan sektor mixed-use property yang terdiri dari perhotelan, pusat perbelanjaan, dan apartemen dalam satu kawasan terintegrasi dalam rangka memenuhi kebutuhan pelanggan.

Kini saatnya kami memantapkan langkah selanjutnya, menyongsong tantangan yang membentang dengan penuh optimisme. Kami akan terus selalu berupaya untuk unggul dalam pengembangan properti melalui pencapaian yang inovatif dan kreatif, serta memantapkan posisi kami sebagai pengembang properti komersial iconic terkemuka di Indonesia.

The steady and positive development of Indonesian economy has an impact on the growth of hospitality business performance. In 2018, Occupancy Rate of star hotels in Indonesia was relatively stable, reaching 59.75% or increased slightly compared to the rate recorded in 2017 at 59.53%.

Observing such condition, we resolve to continuously exert efforts to build and maintain our reputation by strengthening our commitment to quality perfection and customer satisfaction. Loyalty and pride in our profession are evidenced through the consistent development of business in segments that have proven to have strong advantage and value propositions, while continuously focusing on the development of mixed-use property sector, consisting of hotels, shopping centers, and apartments in one integrated area, in order to meet customers’ needs.

Now is the time for us to strengthen the next step, to meet the challenges with optimism. We will continue to excel in property development through the realization of innovative and creative achievement, and to strengthen our position as the leading iconic commercial property developer in Indonesia.

Strengthening Our Position as a Leading Iconic Commercial Property Developer

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Theme Continuity

KEBERLANJUTAN TEMA

2016Moving Forward Seize the Future

Fundamental ekonomi Indonesia yang kokoh, inflasi yang terjaga, serta daya beli masyarakat yang stabil dan bertumbuh mampu menciptakan consumer confident. Perseroan yakin dapat menghadapi tahun-tahun yang penuh tantangan dan meraih berbagai peluang yang ada melalui penerapan kebijakan strategis serta target peningkatan kinerja yang mampu meningkatkan performa Perseroan. Dengan semangat Moving Forward to Seize the Future, kami optimis dapat menciptakan pertumbuhan yang berkelanjutan.

Strong national economic fundamentals, maintained inflation rate as well as stable and growing public purchasing power are the factors that contribute to the creation of consumer confidence. The Company is optimistic to be able to face the challenging future and seize all opportunities through the proper application of strategic policies, in addition to achieving the target of performance improvement. With the spirit of Moving Forward to Seize the Future, we are confident in our efforts to generate sustainable growth.

2017Sustainable Growth Through Enforcing Pillars of Business

Perseroan yakin dapat menghadapi tahun-tahun yang penuh tantangan dan meraih berbagai peluang yang ada melalui penerapan kebijakan strategis serta target peningkatan kinerja yang mampu meningkatkan performa Perseroan. Kebijakan strategis yang diterapkan sepanjang tahun 2017 antara lain melakukan diversifikasi usaha dengan mulai memasuki wilayah operasional baru di luar Batam, Bali, Yogyakarta dan Jakarta dengan membangun beberapa proyek hotel dan apartemen di beberapa wilayah di Indonesia. Dalam jangka panjang, kami menargetkan untuk masuk pada sektor mixed use property yang terdiri dari perhotelan, pusat perbelanjaan, dan apartemen dalam satu kawasan yang terintegrasi. Dengan semangat kami optimis dapat menciptakan pertumbuhan yang berkelanjutan.

The Company is optimistic to be able to overcome the challenging future and seize all opportunities with the right strategy, in addition to achieving targets to improve the Company’s performance. Other strategies implemented over the course of 2017 include business expansion by penetrating new operational areas outside of Batam, Bali, Yogyakarta and Jakarta through the development of new hotel, shopping centers and apartment projects. In the upcoming years, we aim to enter into mixed-use property sector which consists of hotel, shopping center, and apartment within one integrated area. With our strong commitment and spirit, as well as solid vision and focused business strategies, we are confident in our efforts to generate sustainable growth.

Pendahuluan • IntroductionIntroduction

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A B C D E F G H

CONVENIENTCONCONCONCONCONVECONVE

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HARRIS Hotel Batam CenterBatam

Didesain dengan megah dengan interior yang unik, ballroom ini ditujukan kepada siapapun yang ingin menyelenggara-kan pertemuan kasual maupun formal.Designed grandiosely with unique interior, a convenient ballroom is presented for those who want to arrange either casual or formal rendezvous.

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IKHTISAR DATA KEUANGAN PENTING Highlights of Key Financial Data

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GRAFIK IKHTISAR DATA KEUANGAN Charts of Key Financial Data Highlights

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IKHTISAR SAHAM Share Highlights

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AKSI KORPORASI Corporate Action

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IKHTISAR OBLIGASI, SUKUK ATAU OBLIGASI KONVERSI Highlights of Bonds, Sukuk, or Convertible Bonds

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PERISTIWA PENTING 2018 2018 Significant Events

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PENGHARGAAN DAN SERTIFIKASI Awards and Certifications

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IKHTISAR UTAMAPerformance

Highlights

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LAPORAN DEWAN KOMISARISBoard of Commissioners Report 26LAPORAN DIREKSI Board of Directors Report

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TENTANG LAPORAN TAHUNAN 2018 About 2018 Annual Report

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PENJELASAN TEMA 20182018 Theme Explanation

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KEBERLANJUTAN TEMATheme Continuity

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LAPORANMANAJEMEN Management Report

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INFORMASI UMUM PERUSAHAANGeneral Information

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PROFIL PERUSAHAAN

Company Profile

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ContentsDAFTAR ISI

8JEJAK LANGKAH Milestones

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RIWAYAT SINGKAT PERUSAHAAN Brief History of Company

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BIDANG USAHA Line of Business

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STRUKTUR ORGANISASI Organization Structure

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VISI DAN MISI PERUSAHAAN Vision and Mission

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NILAI-NILAI PERUSAHAAN Corporate Values

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IDENTITAS PERUSAHAAN Corporate Identity

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KEUNGGULAN KOMPETITIFCompetitive Excellence

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KOMPOSISI PEMEGANG SAHAM Composition of Shareholders

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KEPEMILIKAN SAHAM PERSEROAN OLEH MANAJEMEN Company Share Ownership by Management

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JUMLAH PEMEGANG SAHAM DAN PERSENTASE KEPEMILIKAN Number of Shareholders and Shareholding Percentage

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SKEMA PEMEGANG SAHAM UTAMA DAN PENGENDALI Structure of Main and Controlling Shareholders

60

NAMA DAN ALAMAT ANAK PERUSAHAAN, PERUSAHAAN ASOSIASI DAN PERUSAHAAN VENTURA BERSAMAName and Address of Subsidiaries, Associate Entities and Joint Venture Companies

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STRUKTUR GRUP Group Structure

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KRONOLOGI PENCATATAN SAHAMShare Listing Chronology

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KRONOLOGI PENCATATAN EFEK LAINNYAOther Securities Listing Chronology

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JARINGAN KANTOR DAN WILAYAH KERJAOffice Network and Operational Area

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NAMA DAN ALAMAT LEMBAGA DAN PROFESI PENUNJANG PASAR MODALName and Address of Capital Market Supporting Institutions and Professions

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Daftar Isi


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A B C D E F G H

PROFIL MANAJEMENManagement Profile

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PROFIL DEWAN KOMISARIS Profile of Board of Commissioners

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PROFIL KOMITE AUDIT Profile of Audit Committee

105

PROFIL DIREKSI Profile of Board of Directors

108

PROFIL SEKRETARIS PERUSAHAANProfile of Corporate Secretary

117

PROFIL KEPALA INTERNAL AUDITProfile of Chief Internal Audit

118

PENDIDIKAN DAN PELATIHAN MANAJEMEN 2018 Education and Training Programs for Management in 2018

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ANALISA DANPEMBAHASANMANAJEMEN

Management Discussion and Analysis

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TINJAUAN MAKROEKONOMI DAN INDUSTRI Overview on Macroeconomy and Industry

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TINJAUAN KINERJA BISNIS Overview on Business Performance

TINJAUAN OPERASI PER SEGMEN USAHA Operational Overview per Business Segment

124

STRATEGI PEMASARAN DAN PANGSA PASARMarketing Strategy and Market Share

128

ANALISIS KINERJA KEUANGAN Analysis on Financial Performance

POSISI KEUANGAN Financial Position

129

LABA RUGI Profit or Loss

134

ARUS KAS Cash Flows

137

INFORMASI KEUANGAN MATERIAL LAINNYA Other Material Financial Information

KEMAMPUAN MEMBAYAR UTANG Solvency 139

TINGKAT KOLEKTIBILITAS PIUTANG Receivables Collectability Rate

140

STRUKTUR MODAL Capital Structure 141

IKATAN MATERIAL UNTUK INVESTASI BARANG MODAL Material Commitment for Capital Goods Investment

142

INVESTASI BARANG MODAL YANG DIREALISASIKAN PADA TAHUN BUKU TERAKHIR Capital Goods Investment Realized in the Last Fiscal Year

142

PERBANDINGAN ANTARA TARGET DAN REALISASI 2018 SERTA PROYEKSI 2019Comparison Between Targets and Realizations in 2018 and Projections for 2019

143

INFORMASI DAN FAKTA MATERIAL SETELAH TANGGAL LAPORAN AKUNTAN Material Information and Fact Subsequent to the Date of Accountant Report

143

TRANSAKSI MATERIAL TERKAIT INVESTASI, EKSPANSI, DIVESTASI, PENGGABUNGAN/PELEBURAN USAHA, AKUISISI, RESTRUKTURISASI UTANG/MODAL, DAN TRANSAKSI DENGAN AFILIASI Material Transactions Containing Investment, Expansion, Divestment, Business Merger/Consolidation, Acquisition, Capital/Debt Restructuring, and Transactions with Affiliated Parties

143

TRANSAKSI MATERIAL YANG MENGANDUNG BENTURAN KEPENTINGAN DAN TRANSAKSI AFILIASI Material Transactions Containing Conflict of Interestand Affiliated Transactions

144

TRANSAKSI-TRANSAKSI PENTING LAINNYA DALAM JUMLAH YANG SIGNIFIKANOther Important Transactions with Significant Amount

144

KEBIJAKAN DIVIDEN Dividend Policy 144

INFORMASI WEBSITE PERUSAHAANInformation on Company Website

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PROGRAM KEPEMILIKAN SAHAM OLEH KARYAWAN DAN/ATAU MANAJEMEN Management and/or Employee Stock Option Plan

145

PENGGUNAAN DANA HASIL PENAWARAN UMUM Use of Proceeds From Public Offering

145

PERUBAHAN PERATURAN PERUNDANG-UNDANGAN PADA TAHUN BUKU TERAKHIR Changes in Laws and Regulations in the Last Fiscal Year

147

PERUBAHAN KEBIJAKAN AKUNTANSI Changes in Accounting Policies

147

KETAATAN SEBAGAI WAJIB PAJAKCompliance as Taxpayer

148

PROSPEK DAN KELANGSUNGAN USAHAMacro Review of Global Economy

PROSPEK USAHABusiness Outlook 149

INFORMASI KELANGSUNGAN USAHAInformation on Business Continuity

150

SUMBER DAYA MANUSIA Human Resources

153

TEKNOLOGI INFORMASI Information Technology

161

TINJAUAN PENDUKUNG BISNIS

Review on Business Supports

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KOMITMEN PENERAPAN GCGGovernance Implementation Commitment

165

TATA KELOLA PERUSAHAANCorporate Governance

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IMPLEMENTASI TATA KELOLA YANG BERKELANJUTANSustainable Governance Implementation

170

STRUKTUR DAN MEKANISME TATA KELOLA PERUSAHAANStructure and Mechanism of Corporate Governance

178

RAPAT UMUM PEMEGANG SAHAMGeneral Meeting of Shareholders

179

DEWAN KOMISARISBoard of Commissioners

182

KOMISARIS INDEPENDENIndependent Commissioner

186

DIREKSIBoard of Directors

187

KEBIJAKAN KEBERAGAMAN KOMPOSISI DEWAN KOMISARIS DAN DIREKSI Policy on the Diversity in Board of Commissioners and Board of Directors Compositions

191

KEBIJAKAN REMUNERASI BAGI DEWAN KOMISARIS DAN DIREKSI Policy on Remuneration for Board of Commissioners and Board of Directors

195

KEBIJAKAN SERTA FREKUENSI DAN TINGKAT KEHADIRAN RAPAT DEWAN KOMISARIS, RAPAT DIREKSI, DAN RAPAT GABUNGAN DEWAN KOMISARIS DENGAN DIREKSI Policy, Frequency, and Attendance Rate of the Meetings of Board of Commissioners, Meetings Board of Directors, and Joint Meetings of Board of Commissioners, and Board of Directors

197

HUBUNGAN AFILIASI ANTARA ANGGOTA DIREKSI, DEWAN KOMISARIS, DAN PEMEGANG SAHAM UTAMA DAN/ATAU PENGENDALIAffiliations of Board of Commissioners and Board of Directors

201

KOMITE AUDITAudit Committee

202

Daftar Isi

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A B C D E F G H

KOMITE/FUNGSI NOMINASI DAN REMUNERASI Nomination and Remuneration Committee/Function

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SEKRETARIS PERUSAHAAN Corporate Secretary

207

UNIT INTERNAL AUDIT Internal Audit Unit

209

AKUNTAN PUBLIK Public Accountant

217

MANAJEMEN RISIKO Risk Management

218

SISTEM PENGENDALIAN INTERNAL Internal Control System

223

KEBIJAKAN PENGADAAN BARANG DAN JASA SERTA HUBUNGAN DENGAN PEMASOKPolicy on Goods and Services Procurement and Relationship with Suppliers

226

PENYEDIAAN DANA UNTUK KEGIATAN SOSIAL DAN KEGIATAN POLITIK Provision of Funds for Social and Political Activities

228

PERKARA PENTING Legal Cases

229

SANKSI ADMINISTRATIFAdministrative Sanctions

229

AKSES INFORMASI DAN DATA PERUSAHAAN Access to Information and Corporate Data

229

KODE ETIKCode of Conduct

230

SISTEM PELAPORAN PELANGGARANWhistleblowing System

232

PERNYATAAN PELAKSANAAN PRINSIP-PRINSIP TATA KELOLA PERUSAHAAN TERBUKA Statement of Implementation of Governance Principles

235

TANGGUNG JAWAB SOSIAL PERUSAHAAN Corporate Social Responsibil ity

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LAPORANKEUANGAN AUDITED

Audited Financial Statements

LANDASAN PELAKSANAAN CSRCompany Profile

237

TANGGUNG JAWAB SOSIALPERUSAHAAN DALAM BIDANGHAK ASASI MANUSIACorporate Social Responsibility in Human Rights Aspect

241

TANGGUNG JAWAB SOSIALPERUSAHAAN DALAM BIDANGOPERASI YANG ADILCorporate Social Responsibility in Fair Operations

242

TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG LINGKUNGAN HIDUPCorporate Social Responsibility in Manpower, Occupational Health and Safety

243

TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG KETENAGAKERJAAN, KESEHATAN DAN KESELAMATAN KERJA Corporate Social Responsibility to the Environment

245

TANGGUNG JAWAB SOSIALPERUSAHAAN DALAM PENGEMBANGAN SOSIAL KEMASYARAKATANCorporate Responsibility in Social Community Development

249

TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG TANGGUNG JAWAB TERHADAP KONSUMEN Corporate Social Responsibility to Customers

251

TESTIMONITestimony

252

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A B C D E F G H

IKHTISAR UTAMA PERFORMANCE

HIGHLIGHTS

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Sheraton Bali Kuta ResortBali

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IKHTISAR DATAKEUANGAN PENTINGHighlights of Key Financial Data

Ikhtisar Laporan Keuangan | Highlights of Financial Statements

* Disajikan kembali | Restated

URAIAN DESCRIPTION 2018 2017*) 2016*) 2015 2014*)

IKHTISAR LABA RUGI KONSOLIDASIAN | HIGHLIGHTS OF CONSOLIDATED PROFIT AND LOSS

Pendapatan BersihNet Revenues 770.398.351.932 597.738.725.679 547.492.009.881 587.087.865.753 579.474.747.358

Laba Bruto Gross Profit 494.429.858.772 416.161.926.349 389.343.876.701 421.142.573.853 419.602.614.377

Laba Usaha Operating Profit 150.933.825.018 97.433.621.621 39.020.545.356 123.737.090.006 121.948.487.060

Laba Tahun Berjalan Profit for the Year 122.894.269.254 147.896.118.540 181.566.742.860 112.287.513.857 60.711.753.324

LABA TAHUN BERJALAN YANG DAPAT DIATRIBUSIKAN KEPADA: | PROFIT FOR THE YEAR ATTRIBUTABLE TO:

Pemilik Entitas Induk Owners of the Parent 76.275.110.146 101.202.272.170 170.121.035.846 59.903.626.388 25.098.336.892

Kepentingan Non Pengendali Non-Controlling Interest

46.619.159.108 46.693.846.370 11.445.707.014 52.383.887.469 35.613.416.432

Jumlah Penghasilan Komprehensif Tahun Berjalan Setelah Pajak Total Comprehensive Income for the Year Net of Tax

129.545.853.851 143.981.700.366 180.697.292.740 113.118.531.290 59.092.980.146

LABA KOMPREHENSIF TAHUN BERJALAN YANG DAPAT DIATRIBUSIKAN KEPADA: | TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO:

Pemilik Entitas Induk Owners of the Parent 82.227.565.078 98.208.548.813 169.506.434.099 60.734.643.821 23.479.563.714

Kepentingan Non Pengendali Non-Controlling Interest

47.318.288.773 45.773.151.553 11.190.858.641 52.383.887.469 35.613.416.432

Laba per SahamEarning per Share 6,82 9,05 15,21 8,96 11,22

IKHTISAR POSISI KEUANGAN KONSOLIDASIAN | HIGHLIGHTS OF CONSOLIDATED FINANCIAL POSITION

Aset LancarCurrent Assets 755.359.080.833 564.294.637.344 356.733.356.435 442.875.440.986 333.887.025.834

Aset Tidak Lancar Non-Current Assets 6.209.375.759.946 6.093.843.379.317 4.808.739.734.139 4.458.187.088.672 1.857.352.220.562

Jumlah Aset Total Assets 6.964.734.840.779 6.658.138.016.661 5.165.473.090.574 4.901.062.529.658 2.191.239.246.396

Liabilitas Jangka Pendek Current Liabilities 732.693.107.709 787.645.840.440 109.501.369.600 313.186.382.555 169.889.733.156

Ikhtisar Utama • Performance HighlightPerformance Highlight

14


B C D E F G HA



Liabilitas Jangka Panjang Non-Current Liabilities 1.875.681.563.157 1.635.148.701.087 966.020.102.037 635.854.413.277 780.025.713.834

Jumlah LiabilitasTotal Liabilities 2.608.374.670.866 2.422.794.541.527 1.075.521.471.637 949.040.795.832 949.915.446.990

Jumlah Ekuitas Total Equity 4.356.360.169.913 4.235.343.475.134 4.089.951.618.937 3.952.021.733.826 1.241.323.799.406

Modal Kerja BersihNet Working Capital 22.665.973.124 (223.351.203.096) 247.231.986.835 129.689.058.431 163.997.292.678

Jumlah Investasi pada Entitas AsosiasiTotal Investments in Associate Entities

3.749.279.316.155 3.689.251.659.303 2.555.867.907.136 2.392.143.695.124 47.865.562.238

IKHTISAR ARUS KAS KONSOLIDASIAN | HIGHLIGHTS OF CONSOLIDATED CASH FLOWS

Arus Kas Bersih dari Aktivitas OperasiCash Flows from Operating Activities

193.103.048.142 213.416.840.911 100.067.311.679 62.130.885.734 81.648.775.493

Arus Kas Bersih untuk Aktivitas InvestasiCash Flows for Investing Activities

(26.487.629.039) (604.864.417.553) (253.876.095.128) (261.166.510.079) (132.826.958.533)

Arus Kas dari Aktivitas PendanaanCash Flows from Financing Activities

55.533.819.484 566.906.561.863 114.227.673.653 272.926.970.094 74.241.480.325

Kenaikan (Penurunan) Bersih Kas dan Setara Kas NetIncrease (Decrease) Cash and Cash Equivalents

222.149.238.587 175.458.985.221 (39.581.109.796) 73.891.345.749 23.063.297.285

Kas dan Setara Kas Entitas Anak yang Baru DiakuisisiCash and Cash Equivalents from Newly Acquired Subsidiaries

- - - 10.627.295.033 -

Kas dan Setara Kas Awal TahunCash and Cash Equivalents at Beginning of the Year

418.711.401.227 250.967.228.835 287.484.925.085 202.966.284.303 179.902.987.018

Pengaruh Perubahan Kurs Mata Uang Asing terhadap Kas dan Setara KasEffect of Foreign Exchange Rate Changes on Cash and Cash Equivalents

(57.883.942.697) (7.714.812.829) - - -

Kas dan Setara Kas Akhir TahunCash and Cash Equivalents at End of Year

582.976.697.117 418.711.401.227 247.903.815.289 287.484.925.085 202.966.284.303

15


Rasio Keuangan | Financial Ratios


Laba Bersih Terhadap Jumlah AsetReturn on Assets 1,76% 2,22% 3,52% 2,29% 2,77%

Laba Bersih Terhadap EkuitasReturn on Equity 2,82% 3,49% 4,44% 2,84% 4,89%

Laba Bersih Terhadap Pendapatan/Margin Laba BersihReturn on Revenues/Net Profit Margin

15,95% 24,74% 33,16% 19,13% 10,48%

Rasio Lancar Current Ratio 1,03 0,72 3,31 1,41 1,97

Liabilitas Terhadap Ekuitas Liabilities to Equity 0,60 0,57 0,26 0,24 0,77

Liabilitas Terhadap Jumlah AsetLiabilities to Assets

0,37 0,36 0,21 0,19 0,43

Rasio Modal Kerja Terhadap AsetWorking Capital to Total Assets Ratio

0,00 (0,03) 0,05 0,03 0,07

Rasio Imbal Hasil Terhadap Investasi Return on Investments

0,03 0,04 0,07 0,05 1,27

Rasio Investasi Terhadap Aset Investments to Assets 0,54 0,55 0,50 0,49 0,02

Margin Laba Bersih Net Profit Margin 15,95% 24,74% 33,16% 19,13% 10,48%

Laba per SahamEarning per Share 6,82 9,05 15,21 8,96 11,22

Modal Kerja Bersih Net Working Capital 22.665.973.124 (223.351.203.096) 247.231.986.835 129.689.058.431 163.997.292.678

Pendapatan Revenues 770.398.351.932 597.738.725.679 547.492.009.881 587.087.865.753 579.474.747.358

Rata-rata Piutang Average Receivables 34.800.834.930 29.291.078.51 36.359.258.025 36.894.335.114 26.926.563.333



16


B C D E F G HA

2016*)2014

494,42416,16

4,089,95

547,49

5,165,47

1,075,52

389,34

39,02

419,60

0

100

200

300

400

500

600

2017*)2015 2018

949,04

2016*)20140

500

1.000

1.500

2.000

2.500

3.000

2017*)2015 2018

97,43

2016*)20140

20

40

60

80

100

140

160

120

2017*)2015 2018

597,73

2016*)20140

100

200

300

400

500

700

800

900

600

2017*)2015 2018

6,658,13

2016*)20140

1.000

2.000

3.000

4.000

5.000

7.000

8.000

6.000

2017*)2015 2018

Laba Bruto | Gross Profit

Dalam Miliar Rupiah | In Billion Rupiah

Total Liabilitas | Total Liabilities

Laba Usaha | Operating Profit

Pendapatan Bersih | Net RevenuesTotal Ekuitas | Total Equity

Total Aset | Total Assets


GRAFIK IKHTISARDATA KEUANGANChart of Key Financial Data Highlights

4,235,34

2016*)20180

1.000

1.500

2.000

2.500

3.000

4.000

4.500

5.000

3.500

20152017*) 2014

500

421,14

2,191,23

6,964,73

4,901,06

1,241,32

4,356,36

3,952,02

123,73

150,93

121,94

2,608,372,422,79

949,91

770,39

587,08579,47

17


IKHTISAR SAHAMShare Highlights

PERIODE PERIOD

HARGA SAHAM | SHARE PRICE

VOLUME PERDAGANGAN TRADING VOLUME

(UNIT)

JUMLAH SAHAM YANG

BEREDAR (LEMBAR)

TOTAL OUTSTANDING

SHARES (SHARE)

KAPITALISASI PASAR MARKET

CAPITALIZATION

TERTINGGI HIGHEST

(RP)

TERENDAH LOWEST (RP)

PENUTUPAN CLOSING (RP)

2018

Triwulan I 1st Quarter 650 605 635 2.557.000 11.181.971.732 7.100.552.049.820

Triwulan II2nd Quarter 640 500 500 1.378.000 11.181.971.732 5.590.985.866.000

Triwulan III 3rd Quarter 950 482 660 24.492.000 11.181.971.732 7.380.101.343.120

Triwulan IV 4th Quarter 760 400 700 2.733.000 11.181.971.732 7.827.380.212.400

2017

Triwulan I 1st Quarter 630 540 615 34.082.000 11.181.971.732 6.876.912.615.180

Triwulan II2nd Quarter 645 595 625 20.812.000 11.181.971.732 6.988.732.332.500

Triwulan III 3rd Quarter 630 610 610 14.273.000 11.181.971.732 6.821.002.756.520

Triwulan IV 4th Quarter 800 610 650 166.295.000 11.181.971.732 7.268.281.625.800

INFORMASI HARGA SAHAM | Information on Share Price

EmitenIssuer PT Indonesian Paradise Property Tbk

Kode SahamTicker Code INPP

Pencatatan di BursaListing on Stock Exchange

Bursa Efek IndonesiaIndonesia Stock Exchange

Biro Administrasi EfekShare Registrar PT Adimitra Jasa Korpora

PeriodePeriod

Tahun 2018 dan Tahun 20172018 and 2017


18


B C D E F G H

Grafik Harga Saham | Chart of Share Price

Sepanjang tahun 2018 dan 2017, Perseroan tidak melakukan aksi korporasi, seperti pemecahan saham (stock split), penggabungan saham (reverse stock), dividen saham, saham bonus, dan perubahan nilai nominal saham, sehingga informasi tersebut tidak dapat disajikan dalam Laporan Tahunan ini.

Perseroan tidak memiliki informasi mengenai obligasi, sukuk atau obligasi konversi yang masih beredar dalam 2 (dua) tahun buku terakhir, sehingga informasi mengenai jumlah obligasi/sukuk/obligasi konversi yang beredar (outstanding); tingkat bunga/imbalan; tanggal jatuh tempo; dan peringkat obligasi/sukuk tahun 2018 dan 2017 tidak dapat dibahas dalam Laporan Tahunan ini.

In 2018 and 2017, the Company did not conduct any corporate action, such as stock split, reverse stock, share dividend, bonus share, and change in share nominal value. Hence, information related to such matters cannot be presented in this Annual Report.

The Company has no information on bonds, sukuk, or convertible bonds outstanding in the last 2 (two) fiscal years. Hence, information pertaining to outstanding bonds/sukuk/convertible bonds; rate of interest/return, maturity date, and rating of bonds/sukuk of 2018 and 2017 cannot be presented in this Annual Report.

AKSI KORPORASI

IKHTISAR OBLIGASI, SUKUK ATAU OBLIGASI KONVERSI

Corporate Action

Highlights of Bonds, Sukuk, or Convertible Bonds

A

2018

1228

2018

1214

2018

1204

2018

1122

2018

1109

2018

1030

2018

1018

2018

1008

2018

0926

2018

0914

2018

0903

2018

0821

2018

0808

2018

0727

2018

0717

2018

0705

2018

0625

2018

0604

2018

0521

2018

0508

2018

0425

2018

0413

2018

0403

2018

0321

2018

0309

2018

0227

2018

0214

2018

0202

2018

0123

2018

0111

1000

800

600

400

200

-

2018

1228

2018

1212

2018

1128

2018

1113

2018

1030

2018

1016

2018

1002

2018

0918

2018

0903

2018

0816

2018

0802

2018

0719

2018

0705

2018

0621

2018

0252

2018

0511

2018

0425

2018

0411

2018

0327

2018

0313

2018

0227

2018

0212

2018

0129

2018

0115

120,000

100,000

80,000

60,000

40,000

20,000

-

Trading Volume Closing

19


19

11 DesemberDecember

2018PERISTIWAPENTING

Significant Events

Ground breaking Sahid Kuta Life style Resort (SKLR) – II.

PPPPPPPPPPPPPPTTTT PPPPPPPPTTTPPPPPPPPPTTTPPPPPPPTTTTPPPPPTTTTPPPTTTPPPPPPPPPTTTPPPPPPPTTPPPPTPPPPPPPPPPTPPPPPPTPPPPPPPPPPPPPPPTTPPPPTTPPPPPPTPPPPPPPPPT PPPPPPTPPPPPPTTPPPPPP InnndIndnddInddnddddndndndndIndndIndddddI dnddIIIndIndndnnnnndnddddndndnnndddddInddddddddddddddddddddoooneoneoneonooonnnenneneeoneneoononeeeonnneeeooneeooo eeooonooooonneeoooo eoooo eooonneeeooooooooooneoooooooonnooooneeonnnneenneeeo esssssssiaiaiaiaiisiiiiiasiiaasisiaiaaaaaaasisiaiaaaasssssssiiaaaaassssiassiasiassiaiaiaaassss assssiaiiasiaaasssiiasiasiasiaaaasssisisisiaaasiasiiaaaassiasiaiiiaaaasiais assiaaas asiaaas aaaaaaaisiaaaaaaaaaaasiiaaaaaaasiiaaaaaaaaaan PPn Pn Pn Pn Pn Pnnnnn Pn PPn Pn Pn Pn Pnn PPPPnnn PPPPPPPPPn PPPnn Pn Pnnnnnn Pnnn Pn Pnnn PPnn Pnn Pnn Pnnnnnnnnnnnnnnn nnnnnnn nnn PPPnnnnnnnnn PPPPPnnnnnnn Pnnnnnnnn araararaaraaraaraaraaraaraaraa aaraaraaraarararaaaaa aaraaraaaaaaarararaaraaa aaararararrraaararraraaaaaraaraarrraaaraaraaaaara aaaraaaaaa aaaaaaaaaaaaraaaaaaaaaararraaaaaaaaaaaaarrrrrrraaaaaaarrrrrraaaadisdidisdddisdisddddisdisdisdissdisdisddddisdisddidisddisdisddddisissddddddddisdisddddiddidddisissddddddiiiissssssssssssssssssssssiiisssssssssdddddddididiissssddddddddddddiissssddddddddd ssddd ssisissiiisdissssssssdddiiisssssddddddddiissddddddddiiisse Pe Pe Pe Pe Pe PPPe Pe PPPPPe PPe PPe PPPPPe PPee PPe PPe Pee Pe Pee Pe Pee Pee Pe Pee Pe Pee Peeee Pee PPee Pe PPPee Pee Pe P PPPe e e PPPe PPProrororooooropppppoproproprroprrrrropropppppppppppppppporoooooooppprroooooorooroprrrooopropoppppppprooooooopopoppppoooroopopproppoopropropoppoopproroooropropppprrrrooooppprrrrrrooroppppppppppperterterterteerterterterteerteerererreeeeerreeereertr y Ty Ty Ty Ty Ty TT TTy TTTTTTTyy TTTTTTy Ty y y TTTTTTTTy TTTTy TTTy Ty TTTyy TTTy TTTTTTTTTTTTTyy Tyyy bkbkbbkbkbkbbbkbbbkbkbkbkbkbkbbbkbkkkkbkbkbbbkbkbbkbbbbkbbbbkbkbbkbbbbbkbkbkbbkkkbkbkbkbbkkkbbkbbkkk

22 FebruariFebruary

Topping off One Residence - Batam.

29 November

Pelepasan Seluruh Saham PT Indonesian Paradise Property Tbk di PT Omega

Propertindo.

Divestment of all shares of PT Indonesian Paradise Property Tbk at PT Omega

Propertindo.

Refurbishment and Relaunching of HARRIS Resort Waterfront Batam - New Generation.

Pembelian Saham PT Rifai Maju Properti sebesar 60% (enam puluh persen) oleh PT

Indonesian Paradise Property Tbk.

Purchase of the shares of PT Rifai Maju Properti equivalent 60% (sixty percent) by

PT Indonesian Paradise Property Tbk.

01 November

Pembelian Saham PT Pop Properti Indonesia sebesar 60 % (enam puluh persen) oleh PT Indonesian Paradise

Property Tbk.

Purchase of the shares of PT Pop Properti Indonesia equivalent 60% (sixty percent) by


10 April

Park23 Entertainment CenterBali

18 DesemberDecember


20


PENGHARGAAN DAN SERTIFIKASIAwards and Certif ications

Pada tahun 2018, Perseroan mendapatkan apresiasi berupa penghargaan dari pihak eksternal atas pencapaian kinerja yang telah dihasilkan sepanjang tahun buku. Berikut penghargaan yang telah diterima Perseroan:

The Company’s performance throughout the year 2018 was acknowledged by various external parties in the form of the following awards:

2nd 100 Fastest Growing Company Awards 2017Sektor Perdagangan, Jasa-Jasa, dan InvestasiMajalah Infobank2nd 100 Fastest Growing Company Awards 2017 Trading, Services, and Investment SectorInfobank Magazine

Peringkat - 2 Perusahaan Restoran, Hotel & Pariwisata Tbk - Terbaik di Indonesia 2018. Sektor: Perdagangan, Jasa, & Investasi-TbkEconomic Review2nd Rank The Best Restaurant, Hotel & Tourism Listed Company in Indonesia 2018Sector: Trading, Services, & Investment-Listed Company Economic Review

1st The Best Indonesia Restaurant, Hotel & Tourism Public Company 2018. Category: Finance, Sector: Trade, Suit & InvestmentEconomic Review

1st The Best Indonesia Restaurant, Hotel & Tourism Public Company 2018. Category: Finance, Sector: Trade, Suit & InvestmentEconomic Review

Indonesia Enterprise Risk Management Award-II-2018, Silver. Kategori: Perusahaan Swasta-Tbk (Non Keuangan)Economic ReviewIndonesia Enterprise Risk Management Award-II-2018, Silver. Category: Private Listed Company (Non-Financial)Economic Review

Best of the Best Awards, The Top 50 Companies for 2018Forbes Indonesia

Trifecta Award for Winning Awards 3 Years in a Row Forbes Indonesia

Indonesia Enterprise Risk Management Award-II-2018, peringkat ke-7 Kategori: Perusahaan Swasta-Tbk (Non Keuangan)Economic ReviewIndonesia Enterprise Risk Management Award-II-2018, 7th Rank Category: Private Listed Company (Non-Financial)Economic Review


20

B C D E F G HA

21



PENGHAwards


22


B C D E F G H

HARGAAN

PENGHARGAAN & SERTIFIKASI Award & Certification

PEMBERI PENGHARGAAN Awarded by

TANGGALDate

UNIT USAHABusiness Unit

PENGHARGAAN | AWARDS

Loved by Guests Award by Hotels.com Hotels.com 22 March 2018 Sheraton Bali Kuta Resort

2018 Hotel of The Year Awards: BEST LUXURY FAMILY LIFESTYLE BEACH RESORT WORLDWIDE 2018

Hotel of The Year 11 April 2018 Sheraton Bali Kuta Resort

2018 Trip AdvisorCertificate of Excellence

Tripadvisor 31 May 2018 Sheraton Bali Kuta Resort

The Hotelier Awards - Kristanti Tannady as Hotel Manager of the Year and Lillian Tan as Sales Hotelier of the Year

Hotelier Awards 24 May 2018 Sheraton Bali Kuta Resort

2018 Smart Travel Asia - No.14 Best Family Hotel in Asia

Smart Travel 8 July 2018 Sheraton Bali Kuta Resort

Kayak Travel Awards - Runner-up for Favourite Resort Hotel in Southeast Asia (Outbound)

Kayak Travel 8 August 2018 Sheraton Bali Kuta Resort

NOW! Bali Bali Best Bar, Restaurant, and Café Awards 2018 - Feast Restaurant Runner Up for Best International Restaurant

Now Bali 26 October 2018 Sheraton Bali Kuta Resort

World Luxury Hotel Awards - Luxury Family Resort (Southern Asia)

World Luxury Hotels Award 10 November 2018 Sheraton Bali Kuta Resort

THK Awards 2018 – Emerald II THK 12 November 2018 Sheraton Bali Kuta Resort

Agoda 2018 Golden Circle Award – Top Performing Accommodation Partner

Agoda.com 4 December 2018 Sheraton Bali Kuta Resort

Guest Review Awards 9.4 Maison Aurelia Sanur

Booking.com December 2018 Maison Aurelia Sanur - Bali

Gold Medal of THK Awards 2018 Yayasan Tri Hita Karana Bali 30 November 2018 HARRIS Hotel Tuban - Bali

Pelatihan Pencegahan dan Penanggulangan Bahaya Kebakaran Training on the Prevention of Fire

Dinas Kebakaran dan PenyelamatanFire Safety Department

April 2018 HARRIS Hotel Tuban - Bali

Penghargaan kerjasama Pelatihan First AidAward for the Cooperation in First Aid Training

PMI BaliBali Red Cross

15 October 2018 beachwalk Shopping Center – Bali

A

Unit-unit usaha Perseroan juga mendapatkan beberapa penghargaan dan sertifikasi dari berbagai instansi sebagai berikut:The Company’s business units also obtained a number of awards and certifications from various institutions as described in the following table:

23


SERTIFIKASI | CERTIFICATIONS

Sertifikat Lisensi untuk Hotel/Fasilitas HotelCertificate of License for Hotels/Hotel Facilities

KP3R and LMKN 1 Jan – 31 Dec 2018 Maison Aurelia Sanur - Bali

Hygiene Certification Dinas Kesehatan Pemerintah Kota DenpasarHealth Department of Denpasar Government

21 Aug 2018 – 21 Feb 2019

Maison Aurelia Sanur - Bali

Keterangan Laik Sehat Kolam Renang/Pemandian Umum Certificate of Good Health for Public Swimming Pools/Bathhouses

Dinas Kesehatan Pemerintah Kota DenpasarHealth Department of Denpasar Government

21 Aug 2018 – 20 Aug 2021


Keterangan Laik Sehat Hygiene Sanitasi Rumah Makan dan Restaurant Certificate of Good Health for Hygiene and Sanitation of Restaurants

Dinas Kesehatan Pemerintah Kota DenpasarHealth Department of Denpasar Government

21 Aug 2018 – 20 Aug 2021


K3/OHS Disnaker Provinsi BaliManpower Department of Bali Province

August 2018 HARRIS Hotel Tuban - Bali

Hygiene & Sanitation Dinkes Kab. Badung Health Department of Badung Government

December 2018 HARRIS Hotel Tuban - Bali

Pelatihan Pencegahan dan Penanggulangan Bahaya KebakaranTraining on the Prevention of Fire

Dinas Kebakaran dan Penyelamatan Fire Safety Department

April 2018 HARRIS Hotel Tuban - Bali

Sertifikasi Laik Sehat HotelCertificate of Good Health for Hotels

Dinas Penanaman Modal dan Pelayanan Satu Pintu Investment and One-Stop Integrated Service Department

September 2018 HARRIS Hotel Tuban - Bali

Sertifikat Pelatihan Pencegahan dan Penanggulangan KebakaranCertificate of Fire Prevention Training

Dinas Kebakaran dan Penyelamatan Kab BadungFire Safety Department of Badung Regency

9 May 2018 beachwalk Shopping Center – Bali

Sertifikasi Resource efficient cleaner productCertification for Resource efficient cleaner product

RECP & UNINDO 16 Oct 2018 POP! Hotel Sangaji Yogyakarta

Sertifikat Hygiene Sanitasi Hotel dan RestaurantCertificate of Hygiene and Sanitation for Hotels and Restaurants

PTSP. Kec. Tanah AbangOne-Stop Integrated Service Department of Tanah Abang

27 August 2018 HARRIS Suites fX Sudirman - Jakarta

Sertifikasi Hotel Bintang 4Certificate of 4-Star Hotels

Sertifikasi Usaha Pariwisata IndonesiaIndonesian Tourism business Certification

12 September 2018 HARRIS SuitesfX Sudirman - Jakarta

Sertifikat KompetensiCertificate of Competence

Lembaga Sertifikasi Hotel dan RestauranHotel and Restaurant Certification Agency

26 December 2018 HARRIS Suites fX Sudirman - Jakarta


24


B C D E F G HA

LAPORAN MANAJEMEN

MANAGEMENT REPORT

B

25


Laporan Manajemen • Management ReportManagement Report

One ResidenceBatam



26


A C D E F G HB

Pemegang Saham dan Pemangku Kepentingan yang terhormat,

Sepanjang tahun 2018, kami telah melaksanakan berbagai hal sebagai bagian dari pelaksanaan tugas dan tanggung jawab Dewan Komisaris sesuai Anggaran Dasar Perseroan serta melakukan pengawasan terhadap pengelolaan Perseroan oleh Direksi. Beberapa hal tersebut di antaranya memberikan nasihat dan saran yang dibutuhkan Direksi atas implementasi kebijakan strategis, termasuk pengawasan terhadap pelaksanaan rencana bisnis, penerapan tata kelola perusahaan yang baik, efektivitas sistem pelaporan pelanggaran, serta melakukan tugas secara khusus yang diberikan kepada Dewan Komisaris menurut Anggaran Dasar, keputusan RUPS, dan perundang-undangan yang berlaku.

Melalui Laporan Dewan Komisaris ini, kami akan menjelaskan pandangan kami terhadap penilaian kinerja Direksi 2018, pengawasan terhadap implementasi kebijakan strategis, penerapan prinsip-prinsip tata kelola perusahaan, serta langkah Perseroan ke depan.

Distinguished Shareholders and Stakeholders,

Over the course of 2018, we have carried out various activities as part of the implementation of Board of Commissioners’ duties and responsibilities in accordance with the Company’s Articles of Association, and supervised in the management of the Company Board of Directors. These activities cover the provision of advice and recommendations needed by the Board of Directors in the implementation of business plans and good corporate governance and the effectiveness of whistleblowing system, as well as carrying out specific tasks given to the Board of Commissioners according to the Articles of Association, GMS resolutions, and prevaling laws and regulations.

Through this Report, we shall describe our views on the assessment of Board of Directors’ performance in 2018, supervision of strategic policies and corporate governance principles implementation, and the Company’s plans for the future.

LAPORANDEWAN

KOMISARISBoard of

Commissioners Report

Secara khusus, kami terus mengarahkan Direksi untuk tetap disiplin dan fokus pada pengembangan usaha melalui penerapan kebijakan strategis dengan target pertumbuhan pendapatan usaha yang lebih

baik pada masa mendatang.In particular, we continue to direct the Board of Directors to remain disciplined and focus on business development through the implementation of strategic policies with

better business revenue growth targets in the future.

27


Penilaian Kinerja Direksi 2018

Dewan Komisaris menilai kinerja Direksi sangat baik dalam menjalankan kegiatan usaha Perseroan sebagai perusahaan penyedia akomodasi (hotel). Kami juga menilai Direksi berhasil mengelola pusat perbelanjaan dan apartemen sebagai fasilitas penunjang hotel dengan sangat baik. Bagi Dewan Komisaris, Direksi mengerti dengan sangat baik arah segmen pasar yang ditargetkan sehingga Perseroan mampu memiliki daya saing dengan kompetitor sejenis melalui penerapan kebijakan strategis yang tepat. Penilaian ini didasarkan pada kompetensi Direksi yang mampu menjawab tantangan dalam industri yang dijalankan Perseroan dengan capaian laba usaha yang tumbuh 54,91% menjadi Rp150,93 miliar.

Secara khusus, kami terus mengarahkan Direksi untuk tetap disiplin dan fokus pada pengembangan usaha melalui penerapan kebijakan strategis dengan target pertumbuhan pendapatan usaha yang lebih baik pada masa mendatang serta terus mempertahankan reputasi dengan melaksanakan komitmen ‘we deliver the promise’. Komitmen ini disertai dengan dedikasi seluruh karyawan yang senantiasa bekerja keras memajukan Perseroan, serta penerapan secara berkelanjutan tata kelola perusahaan yang baik (Good Corporate Governance) untuk pencapaian yang optimal.

Pengawasan Implementasi Kebijakan Strategis

Sesuai dengan ketentuan yang berlaku, Dewan Komisaris memiliki tugas untuk melakukan pengawasan pengelolaan Perseroan oleh Direksi dan memberikan nasihat dan saran yang dibutuhkan kepada Direksi terkait pengurusan usaha Perseroan. Upaya implementasi kebijakan strategis Perseroan pada tahun 2018 yang mengarah pada pembangunan properti yang iconic dan terbaik serta selektif dan memprioritaskan mixed-use property dengan tujuan untuk mengembangkan properti lifestyle yang iconic, mampu mempertahankan kinerja yang baik.

Performance Assessment of Board of Directors in 2018

We assess that the Board of Directors has displayed notable performance in carrying out the Company’s business activities as accommodation service (hotels). We also asses, that the Board of Director has been able to manage shopping centers and apartments as hotel supporting facilities in a remarkable manner. We believe that the Board of Directors highly understands the direction of the targeted market segment; hence, the Company remained competitive with the appropriate implementation of strategic policies. This assessment is based on Board of Directors’ competence in addressing the industrial challenges in 2018 so that the Company managed to record operating profit of Rp150.93 billion, up 54.91% compared to the previous year.

In particular, we continue to direct the Board of Directors to remain disciplined and focus on business development through the implementation of strategic policies with better business revenue growth targets, and to maintain reputation by carrying out the commitment of ‘we deliver the promise’. This commitment is accompanied by the dedication of all employees who always work hard to advance the Company, as well as the sustainable implementation of Good Corporate Governance to generate optimum accomplishments.

Supervision on Strategic Policy Implementation

In accordance with the applicable regulations, the Board of Commissioners has the duty to supervise the Board of Directors and to provide the necessary advice to regarding the management of Company’s business. Efforts implement the Company’s strategic policies in 2018 led to the selective development of iconic and best property, and mixed-use properties resulted in the Company positive performance.


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Dewan Komisaris juga menilai bahwa Direksi telah melakukan pengelolaan Perseroan secara prudent dalam menghadapi persaingan usaha dan mengarah pada pertumbuhan kinerja yang baik. Kami mengapresiasi kinerja Direksi yang mampu menjalankan diferensiasi usaha dibandingkan kompetitor sejenis, sehingga menempatkan Perseroan sebagai iconic commercial property developer terdepan.

Pandangan atas Prospek Usaha

Memandang ke depan, kami menilai fundamental ekonomi Indonesia cukup stabil, kokoh dan mampu menciptakan consumer confidence. Dalam jangka panjang, Perseroan akan terus menargetkan untuk mengembangkan sektor mixed-use property yang terdiri dari perhotelan, pusat perbelanjaan, dan apartemen dalam satu kawasan yang terintegrasi. Perseroan juga akan menerapkan kedisiplinan dan fokus pada industri yang dijalani sebagai kebijakan strategis.

Dalam menghadapi tantangan yang akan terjadi pada masa mendatang, Direksi telah menyusun prospek usaha Perseroan. Kami menilai, prospek usaha tersebut telah mempertimbangkan kondisi makroekonomi global dan nasional serta selaras dengan visi dan misi Perseroan pada masa mendatang. Kami juga memberikan saran kepada Direksi untuk senantiasa menetapkan pendekatan Resource-Based View (RBV) dalam mencapai keunggulan kompetitif. Kami yakin Perseroan dapat menghadapi tantangan melalui berbagai kebijakan strategis serta target peningkatan kinerja yang mampu meningkatkan performa Perseroan dan optimis dapat menciptakan pertumbuhan pada angka yang realistis di masa mendatang.

Tata Kelola Perusahaan

Menurut pandangan kami, penerapan tata kelola perusahaan yang baik atau Good Corporate Governance (GCG) sangat penting dalam mencapai keberlanjutan usaha Perseroan sebagai penyedia akomodasi (hotel), juga berhasil dalam menjalankan GCG pada pengelolaan pusat perbelanjaan dan apartemen sebagai fasilitas penunjang hotel. Kami senantiasa

The Board of Commissioners also considers that the Board of Directors has managed the Company prudently in facing business competition and in realizing positive performance growth. We appreciate the efforts exerted by the Board of Directors in conducting business differentiation compared to similar competitors; thus, placing the Company as the leading iconic commercial property developer.

View on Business Outlook

Looking ahead, we are of the opinion that the nation’s economic fundamentals are quite stable and robust, and capable of creating consumer confidence. Thus, the Company will continue to target the development of mixed-use properties in the long-term, consisting of hotels, shopping centers, and apartments in an integrated area. The Company will also implement discipline and focus on the industry in which it is engaged as its strategic policy.

To face the future challenges, the Board of Directors has prepared the Company’s business prospects having considered both global and national macroeconomic conditions, and in line with the Company’s vision and mission. We have advised the Board of Directors to always determine the approach of Resource-Based View (RBV) in order to achieve competitive advantage. We believe that the Company can face all challenges through various strategic policies and targets for performance improvement, enabling the Company to continuously improve its performance. Furthermore, we are optimistic that the Company can attain positive growth within realistic numbers in years to come.

Corporate Governance

We are of the opinion that the implementation of Good Corporate Governance (GCG) is highly essential in sustaining the Company’s business as accommodation services (hotels), and in managing shopping centers and apartments as hotel supporting facilities. To that end, we continuously strive to implement GCG with the aims to not only fulfill our obligations, but also to manifest

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berupaya mengimplementasikan GCG tidak hanya sekadar menggugurkan kewajiban, namun, sudah merupakan suatu keharusan dari hati untuk menjaga transparansi dan akuntabilitas pengelolaan Perseroan kepada publik. Pengembangan GCG yang selaras dengan best practices secara berkesinambungan dan konsisten tidak hanya dapat memberikan perlindungan yang memadai dan perlakuan yang adil kepada seluruh Pemegang Saham dan Pemangku Kepentingan namun lebih dari itu, mendorong Perseroan untuk menciptakan nilai tambah secara maksimal.

Frekuensi dan Cara Pemberian Nasihat kepada Anggota Direksi

Dewan Komisaris telah memberikan nasihat, saran dan masukan kepada Direksi serta melakukan pengawasan terhadap implementasi kebijakan strategis Direksi, Dewan Komisaris memberikan saran dan nasihat yang disampaikan melalui rekomendasi dalam rapat internal dan rapat gabungan. Selama tahun 2018, Dewan Komisaris telah melaksanakan 6 kali rapat Dewan Komisaris, serta 6 kali rapat gabungan Dewan Komisaris dengan Direksi dan memberikan beberapa arahan dan masukan antara lain berkaitan dengan kebijakan dan strategi Perseroan untuk terus berkomitmen ‘we deliver the promise’ dengan baik kepada mitra kerja dan pelanggan, serta evaluasi pelaksanaan Good Corporate Governance selama tahun 2018.

Penilaian atas Kinerja Komite di bawah Dewan Komisaris

Dalam rangka mendukung efektivitas pelaksanaan tugas dan tanggung jawab, Perseroan memiliki Komite Audit. Dewan Komisaris senantiasa melakukan pengawasan dan evaluasi secara berkala atas kinerja komite di bawah Dewan Komisaris. Penilaian tersebut dilakukan berdasarkan realisasi dan penyelesaian program kerja yang tercantum dalam rencana kerja Komite serta dilaporkan kepada Dewan Komisaris. Pada tahun 2018, Dewan Komisaris menilai bahwa sepanjang tahun buku 2018 Komite Audit telah menjalankan tugas dan tanggung jawabnya

our commitment to maintaining transparency and accountability of Company’s management to the public. The sustainable development of GCG that is in line with the best practices shall provide ample protection and fair treatment to all Shareholders and Stakeholders, and even further encourage the Company to create maximum added values.

Frequency and Method of Advice Provision to the Board of Directors

The Board of Commissioners has provided advice, recommendations, and inputs to the Board of Directors and has supervised the implementation of strategic policies by the Board of Directors. The advice and recommendations are given through both the internal meeting and joint meetings with the Board of Directors, which, in 2018, has been carried out 6 times each. Through the meetings, we have conveyed a number of directives and inputs in relation to, among others, the Company’s policies and strategies, so that the Company always upholds and realizes the commitment of ‘we deliver the promise’ properly to the business partners and customers, and evaluated the implementation of Good Corporate Governance throughout 2018.

Performance Assessment of Committee under the Board of Commissioners

In supporting the effectiveness of duties and responsibilities implementation, the Company has established an Audit Committee. We regularly monitor and evaluate the performance of committee under the Board of Commissioners based on the realization and accomplishment of work programs contained in the Committee’s work plans that are reported to the Board of Commissioners. In regard to Audit Committee’s performance, we assess that the Committee has carried their duties and responsibilities effectively over the course of 2018 fiscal year. The Audit Committee has monitored


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dengan cukup efektif. Komite Audit telah memantau dan mengevaluasi perencanaan dan pelaksanaan audit serta tindak lanjut hasil audit dalam rangka menilai kecukupan pengendalian internal.

Penerapan dan Pengelolaan Whistleblowing System serta Peran Dewan Komisaris

Perseroan memiliki Sistem Pelaporan Pelanggaran atau Whistleblowing System (WBS). WBS Perseroan bertujuan untuk mendeteksi, mengungkapkan, mencegah, dan menanggulangi setiap pelanggaran yang terjadi. Sistem Pelaporan Pelanggaran ini melibatkan seluruh karyawan sehingga memberikan rasa aman bagi seluruh pihak yang berinteraksi dengan Perseroan. Setiap indikasi adanya pelanggaran, disampaikan melalui media email, WhatsApp atau surat tertulis kepada Komite Pengelolaan Pelaporan Pelanggaran (KP3).

Dalam WBS tersebut Dewan Komisaris memiliki peran untuk melakukan pengawasan atas efektivitas pelaksanaaan WBS di Perseroan telah berada pada jalur yang tepat. WBS Perseroan senantiasa mendapat perhatian dengan baik dalam rangka menciptakan iklim kerja ke arah budaya kejujuran, keterbukaan dan bertanggung jawab di Perseroan.

Tanggung Jawab Sosial Perusahaan

Keberadaan Perseroan dalam menjalankan kegiatan usaha harus dirasakan dan berdampak positif bagi masyarakat dan lingkungan sekitar. Kami sepaham dengan Direksi dalam memaknai substansi pelaksanaan tanggung jawab sosial perusahaan atau Corporate Social Responsibility (CSR), selain mengarah kepada upaya untuk membangun hubungan yang harmonis dan saling menguntungkan namun juga mengarah kepada kontribusi dan memberikan dampak positif bagi pembangunan ekonomi yang berkelanjutan. Kami menilai, Perseroan telah mampu melaksanakan program CSR dengan baik melalui program Business Continuity Plan (BCP) yang mengarahkan sekitar 100 Usaha Mikro, Kecil dan Menengah (UMKM) dalam mengembangkan usaha yang tahan terhadap bencana.

and evaluated audit planning and implementation, as well as the follow-up activities of audit results to evaluate the adequacy of Company’s internal control.

Whistleblowing SystemImplementation andManagement and Board ofCommissioners Roles

The Company has established a Whistleblowing System (WBS) which aims to detect, disclose, prevent, and overcome any violations that may occur. The Whistleblowing System of the Company involves all employees so as to provide security for all parties interacting with the Company. Every indication of violation is conveyed through one the various prepared media, such as email, WhatsApp, or written letter to the Whistleblowing Management Committee (KP3).

In the WBS, the Board of Commissioners has a role to supervise the effectiveness of WBS implementation in the Company and ensure that it is on the right track. The Company’s WBS is given proper attention in order to generate positive work climate towards the culture of honesty, openness, and responsibility in the Company.

Corporate SocialResponsibil ity

The Company’s presence in the implementation of its business activities must be felt and have a positive impact on the community and the surrounding environment. We agree with the Board of Directors in interpreting the substance of Corporate Social Responsibility (CSR) implementation, which is not only to foster harmonious and mutually beneficial relationships but also to contribute and provide a positive impact on sustainable economic development. In this regard, we assess that the Company has been able to carry out CSR programs appropriately through the Business Continuity Plan (BCP) program which has directed around 100 Micro, Small and Medium Entresorises (MSMEs) in developing disaster resilient businesses.

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Perubahan Komposisi Angota Dewan Komisaris

Sepanjang tahun 2018, Perseroan tidak melakukan perubahan komposisi anggota Dewan Komisaris.

Apresiasi dan Penutup

Sebagai penutup atas laporan ini, kami mewakili seluruh jajaran Dewan Komisaris Perseroan mengucapkan terima kasih yang sebesar-besarnya kepada pemegang saham atas kepercayaan yang diberikan selama ini. Terima kasih juga kami sampaikan kepada jajaran Direksi atas integritas dan dedikasi yang diberikan demi pencapaian kinerja Perseroan di tahun buku 2018.

Terima kasih juga saya ucapkan kepada seluruh karyawan atas kerja keras yang dicurahkan dalam merealisasikan visi dan misi Perseroan. Tidak lupa kami juga mengucapkan terima kasih kepada pelanggan atas loyalitasnya serta masyarakat luas atas dukungan bagi kegiatan usaha Perseroan. Semoga capaian kinerja di tahun 2018 dapat menjadi semangat untuk terus meningkatkan kinerja yang lebih baik pada masa mendatang.

Terima kasih.

Changes in Board ofCommissioners Composition

There was no change in the composition of Board of Commissioners in 2018.

Appreciation and Closing

To conclude this report, we would like to express our utmost gratitude to the shareholders for the trust that has been given to the Company. We would also like to appreciate the Board of Directors for their integrity and dedication in realizing positive performance of the Company throughout the 2018 fiscal year.

We would also like to extend our gratitude to all employees of the Company for the hard work devoted to realizing the Company’s vision and mission, and to all customers and public in general for their loyalty and support to the Company’s business activities. Hopefully, the performance achievement recorded in 2018 can reinforce the Company’s spirit to continuously make improvement for a better performance in the future.

Thank you.

Todo SihombingPresiden Komisaris & Komisaris Independen

President Commissioner cum Independent Commissioner



President Commissioner

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Pemegang Saham dan Pemangku Kepentingan yang terhormat,

Salam sejahtera untuk kita semua. Merupakan suatu kehormatan bagi kami mewakili jajaran Direksi untuk menyampaikan Laporan Tahunan 2018 PT Indonesian Paradise Property Tbk yang berisikan kerja keras dan dedikasi kami untuk terus menumbuhkan kinerja Perusahaan yang berkelanjutan. Kami secara konsisten mengembangkan bisnis pada segmen yang telah terbukti memiliki keunggulan dan proposisi nilai yang kuat, serta tetap fokus mengembangkan sektor mixed-use property yang terdiri dari perhotelan, pusat perbelanjaan, dan apartemen dalam satu kawasan terintegrasi dalam rangka memenuhi kebutuhan pelanggan.

Secara umum, dapat kami sampaikan bahwa Perseroan telah mencapai kinerja yang sangat baik sepanjang tahun 2018. Tidak hanya pada aspek keuangan namun juga aspek non keuangan yang didukung dengan kondisi stabilnya perekonomian nasional, meskipun pada sektor properti masih belum sepenuhnya baik.

Distinguished Shareholders and Stakeholders,

It is an honor for me to represent the Board of Directors to deliver the 2018 Annual Report of PT Indonesian Paradise Property Tbk which contains the description of efforts and dedication of all personnel of the Company to advance the Company’s performance in a sustainable manner. We are committed to consistently expanding our business in a segment that has proven to have strong advantage and value proposition, while continuously focusing on the development of mixed-use property sector, consisting of hotels, shopping centers, and apartments in one integrated area, in order to meet customers’ needs.

In general, we can convey that the Company has achieved remarkable performance throughout 2018. The achievements were recorded not only in the financial aspects but also in the non-financial aspects, supported by the stable condition of national economy despite the unfavorable climate of property sector.

LAPORANDIREKSI

Board of Directors Report

Perseroan telah mencapai kinerja yang sangat baik sepanjang tahun 2018. Tidak hanya pada aspek keuangan namun juga aspek

non keuangan yang didukung dengan kondisi stabilnya perekonomian nasional.

The Company has achieved remarkable performance throughout 2018. The achievements were recorded not only in the financial aspects but also in the non-financial aspects, supported by the stable condition of national

economy.


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Kondisi Makroekonomi 2018

Pada tahun 2018, risiko hubungan dagang antar negara dan geo-politik yang tercatat masih tinggi membuat pertumbuhan ekonomi dunia menurun. Menghadapi kondisi ini, perekonomian nasional tetap mampu mencatatkan pertumbuhan 5,17% yang lebih baik dibandingkan pada tahun sebelumnya sebesar 5,07%. Data Bank Indonesia menjelaskan indikator ekonomi dalam negeri menunjukkan bahwa konsumsi swasta tetap kuat ditopang daya beli dan keyakinan konsumen yang terjaga serta dampak positif persiapan Pemilu. Inflasi tetap rendah dan stabil sebesar 3,13% berada dalam sasaran inflasi 2018. Investasi juga tercatat tetap kuat yang didorong proyek infrastruktur Pemerintah, sedangkan investasi non-bangunan melambat dipengaruhi perkembangan sektor manufaktur dan pertambangan. Sementara itu, kontribusi ekspor neto masih negatif dipengaruhi ekspor yang melambat sejalan dengan permintaan global yang melandai dan harga komoditas ekspor yang menurun di tengah impor yang tetap tinggi didorong oleh konsumsi serta daya beli domestik yang masih kuat dan menunjang pertumbuhan ekonomi secara menyeluruh.

Pada industri pariwisata, pelemahan nilai tukar Rupiah yang terjadi pada tahun 2018 membuat biaya wisata yang harus dikeluarkan wisatawan mancanegara lebih murah. Memanfaatkan momentum tersebut, jumlah kunjungan wisman tumbuh 12,58% menjadi 15,81 juta dari sebelumnya sebesar 14,04 juta.

Perkembangan perekonomian Indonesia yang tumbuh stabil dan positif memberikan pengaruh pada pertumbuhan kinerja bisnis perhotelan. Di samping itu, bisnis perhotelan juga didukung dengan kebijakan Pemerintah Daerah yang membatasi pertumbuhan hotel baru guna mengatasi oversupply kamar hotel di beberapa regional diantaranya Bali dan Yogyakarta. Hasilnya, Badan Pusat Statistik mencatat Tingkat Hunian Kamar (Occupancy Rate) pada hotel bintang di Indonesia relatif stabil dan mampu mencapai 59,75% pada tahun 2018 mengalami pertumbuhan dari tahun 2017 sebesar 59,53%.

2018 Macroeconomic Conditions

In 2018, the high risk of inter-country trade relations and the risk of geo-politics caused a decline in global economic growth. Fortunately, in the face of such challenges, the national economy managed to record growth of 5.17% which was better than the 5.07% growth of the previous year. Data from Bank Indonesia explained that the domestic economic indicators showed strong private consumption supported by maintained purchasing power and consumer confidence, as well as the positive impact of general election preparation. Inflation remained low and stable at the level of 3.13%, which was within the 2018 target of inflation. Furthermore, investment was also recorded to remain strong driven by Government’s infrastructure projects, while non-construction investment slowed due to developments in the manufacturing and mining sectors. Meanwhile, the contribution of net exports was still negatively affected by slowing export activities in line with sluggish global demand and declining commodity export prices amid the high import activities due to strong domestic consumption and purchasing power, which supported the overall economic growth.

In the tourism industry, the weakening of Rupiah exchange rate occurred in 2018 reduced the tourism costs that foreign tourists had to pay. Utilizing this momentum, the number of foreign tourist visits grew 12.58% to 15.81 million from 14.04 million recorded in the previous year.

The steady and positive development of national economy impacted on the growth of hospitality business performance. In 2018, the hospitality business was also supported by the Regional Government policy that limited the growth of new hotels to overcome the oversupply of hotel rooms in several regions, including Bali and Yogyakarta. As a result, the Statistics Indonesia (BPS) recorded a relatively stable Occupancy Rate in star hotels in Indonesia which reached 59.75% in 2018, demonstrating a slight growth from the Occupancy Rate of 2017 which was 59.53%.

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Analisis Kinerja Perseroan 2018

Kebijakan StrategisKami senantiasa mencermati setiap perubahan kondisi lingkungan bisnis yang terjadi, baik yang bersifat internal maupun eksternal dalam rangka mencapai sasaran bisnis dan mewujudkan visi Perusahaan. Agar dapat bertahan dan terus meningkatkan kinerja di tengah tantangan bisnis serta memberikan kontribusi bagi seluruh pemengang saham dan pemangku kepentingan lainnya, Perseroan telah menetapkan berbagai kebijakan strategis 2018 diantaranya terus memantapkan posisi untuk hanya akan membangun properti yang iconic dan terbaik. Dalam rangka mencapai strategi ini, kami memberikan perhatian lebih pada upaya untuk membangun dan mempertahankan reputasi sebagai developer terpercaya, serta mengembangkan riset dan kajian usaha terkait dengan letak strategis pembangunan properti di setiap wilayah bisnis Perseroan.

Pada tahun 2018, kami juga memantapkan langkah untuk terus melakukan penguatan sebagai iconic commercial property developer terdepan. Kami selektif dan memprioritaskan mixed-use property dengan tujuan untuk mengembangkan properti lifestyle yang iconic serta memperluas keahlian bisnis di bidang properti guna menjadi salah satu perusahaan properti terdepan di Indonesia. Pencapaian strategi ini salah satunya dilakukan dengan pembangunan 23 Paskal Shopping Center melalui anak perusahaan PT Mitra Perdana Nuansa. Selain menjadi pusat perbelajaan, 23 Paskal Shopping Center merupakan bangunan mixed-use yang iconic juga berfungsi sebagai tempat komunitas berkumpul dan memberikan kontribusi positif memenuhi kebutuhan generasi milenial dan masyarakat sekitar. Kemudian, posisi bisnis sebagai perusahaan pengembang mixed- use property terkemuka juga semakin menguat setelah kami mengakuisisi sebagian sahamPT Plaza Indonesia Realty Tbk pada 2015 lalu.

Dari sisi internal, secara berkelanjutan kami juga terus mengembangkan Sumber Daya Manusia (SDM) dan Teknologi Informasi (TI) dalam rangka menjawab tantangan bisnis. Kami mengimplementasikan kerangka strategi manajemen SDM secara menyeluruh mulai dari

Analysis of Company Performance in 2018

Strategic PoliciesWe continuously take into account any changes that occur in business environment, both internal and external, in order to achieve business goals and realize the Company’s vision. In order to survive and continue to improve performance in the midst of increasing business challenges, and to provide contribution to all shareholders and other stakeholders, the Company has established several strategic policies throughout 2018. These strategic policies aimed to, among others, strengthen Company’s position so as to be able to build only the best and iconic property. In realizing these strategies, we provided more attention to the efforts to build and maintain the Company’s reputation as a trusted developer, and improved business research and studies related to the strategic location of property development in each of the Company’s business areas.

In 2018, we also reinforce our commitment to continuously strengthening our resources as the leading iconic commercial property developer. We were selective in and prioritized the mixed-use property sector with the aim of developing iconic lifestyle properties and expanding business expertise in property sector to become one of the leading property companies in Indonesia. One of these strategies was realized through the construction of 23 Paskal Shopping Center through PT Mitra Perdana Nuansa, the Company’s subsidiary. In addition to being a shopping center, 23 Paskal Shopping Center is an iconic mixed-use building that also functions as a place for communities to gather and contribute positively to meet the needs of the millennial generation and surrounding communities. Furthermore, our business position as a leading mixed-use property developer strengthened after we acquired a portion of shares of PT Plaza Indonesia Realty Tbk in 2015.

On internal front, we also continued to develop Human Resources (HR) and Information Technology (IT) in order to address business challenges. We implemented a comprehensive HR management strategy framework, ranging from organizational needs planning, capacity fulfillment,


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perencanaan kebutuhan organisasi, pemenuhan kapasitas, pengembangan kompetensi, manajemen kinerja dan kesejahteraan, hingga memasuki masa pensiun. Dalam bidang TI, kami telah mengimplementasikan dan menyediakan prasarana yang mendukung kegiatan usaha yang berbasiskan teknologi dan informasi, meliputi Transaction Processing Systems, Management Information Systems, dan Office Automation Systems. Perseroan juga akan terus meningkatkan kualitas dan kuantitas fasilitas sarana dan prasarana penunjang yang dibutuhkan, seperti fasilitas video conference, serta penyediaan informasi-informasi yang terkait dengan Perseroan melalui situs www.theparadise-group.com.

Pencapaian Kinerja dan Perbandingannya dengan TargetDalam setiap tahunnya, kami terus menetapkan target untuk mencapai kinerja yang baik baik dari sisi operasional usaha maupun keuangan. Pada tahun 2018, Perseroan mampu membukukan pendapatan bersih sebesar Rp770,39 miliar, tumbuh 28,89% dibandingkan pada tahun 2017 sebesar Rp597,73 miliar. Kemudian, laba usaha tumbuh 54,91% menjadi Rp150,93 miliar dari Rp97,43 miliar pada tahun sebelumnya. Dari sisi posisi keuangan, jumlah aset Perseroan pada tahun 2018 tercatat sebesar Rp6.964,73 miliar, tumbuh 4,60% dari Rp6.658,13 miliar pada tahun 2017.

Dari sisi operasional, kami membukukan rata-rata tingkat okupansi (average occupancy rate) hotel Perseroan secara umum mengalami kenaikan diantaranya Sheraton Bali Kuta Resort mencapai 87,99% dari sebelumnya 81,30% dan HARRIS Suites fX Sudirman mencapai 86,70% dari sebelumnya 81,48%. Kemudian, tingkat occupancy rate pada segmen Shopping Center yakni beachwalk dan 23 Paskal, masing-masing tumbuh 94,53% dan 97,86% dari sebelumnya 88,38% dan 84,72%.

Tantangan dan Langkah Penyelesaiannya

Secara keseluruhan, industri pariwisata dan properti perhotelan tengah menghadapi berbagai tantangan sepanjang tahun 2018 mulai dari room oversupply, digital disruption yang ditandai dengan perkembangan teknologi digital hingga kompetisi harga. Kemudian, sebagai industri padat karya, Perseroan juga dihadapkan pada kenaikan Upah Minimum Provinsi setiap tahunnya yang

competency development, performance and welfare management, to retirement preparation. Meanwhile in the IT field, we implemented and provided infrastructure supporting business activities, based on technology and information, including Transaction Processing Systems, Management Information Systems, and Office Automation Systems. The Company will also continue to improve the quality and quantity of the necessary supporting facilities and infrastructure, such as video conference facilities, as well as to provide information related to the Company through the website www.theparadise-group.com.

Performance Achievement andComparison with the TargetsAnnually, we always set targets to achieve positive performance in terms of business operations and finance. In 2018, the Company was able to record net revenues of Rp770.39 billion, grew by 28.89% from Rp597.73 billion booked in 2017. Our operating income also recorded 54.91% growth, from Rp97.43 billion recorded in 2017 to Rp150.93 billion. In terms of financial position, the Company’s total assets in 2018 reached Rp6,964.73 billion, up 4.60% from Rp6,658.13 billion in 2017.

On operations front, we posted an increase in the average occupancy rate of the Company’s hotels, including Sheraton Bali Kuta Resort which reached 87.99% from 81.30% in the previous year, and HARRIS Suites fX Sudirman which reached 86.70% from the previous 81.48%. Moreover, the occupancy rate in the Shopping Center segment, namely beachwalk and 23 Paskal, grew to 94.53% and 97.86%, respectively, in 2018 from 88.38% and 84.72% respectively.

Challenges and Strategies to Address ThemOverall, the tourism and hotel property industries faced various challenges in 2018, such as the oversupply of rooms, digital disruption which was marked by the development of digital technology, and price competition. As a labor intensive industry, the Company’s profit was also under pressure due to the annual increase of Provincial Minimum Wage which was not offset by an increase in the

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tidak diimbangi dengan kenaikan room rate yang seimbang, sehingga menekan profit Perseroan. Di sisi lain, kebutuhan tenaga kerja yang berkualitas juga menjadi tantangan tersendiri di industri ini.

Dalam menghadapi kondisi ini, kami senantiasa melakukan perbaikan internal melalui pengembangan SDM secara berkelanjutan dan menerapkan strategi usaha yang tepat melalui kajian bisnis yang baik. Kami juga akan terus mempertahankan reputasi dan kepercayaan mitra kerja dan pelanggan atas Perseroan dengan komitmen ‘we deliver the promise’. Melalui langkah ini, kami sangat optimis bahwa prospek bisnis dan pencapaian kinerja pada masa mendatang akan tetap bertumbuh dan Perseroan dapat mampu meraih berbagai peluang dan beradaptasi dengan perubahan industri di masa mendatang.

Analisis Prospek Usaha

Perekonomian global pada tahun 2019 diperkirakan masih akan dipengaruhi oleh berlanjutnya volatilitas pasar keuangan dan tensi perdagangan. Meski demikian, ke depan, Bank Indonesia memprakirakan pertumbuhan ekonomi Indonesia 2019 tetap baik yakni pada kisaran 5,0-5,4%, ditopang oleh terjaganya permintaan domestik dan membaiknya ekspor neto. Fundamental ekonomi Indonesia pada masa mendatang cukup stabil, kokoh dan mampu menciptakan consumer confidence. Kami yakin dapat menghadapi tantangan di tahun mendatang melalui berbagai kebijakan strategis serta target peningkatan kinerja yang mampu meningkatkan performa perusahaan dan optimis dapat menciptakan pertumbuhan pada angka yang realistis di masa mendatang.

Kami menargetkan untuk tetap mengembangkan sektor mixed-use property yang terdiri dari perhotelan, pusat perbelanjaan, dan apartemen dalam satu kawasan yang terintegrasi. Perseroan juga akan menerapkan kedisiplinan dan fokus pada industri yang dijalani sebagai kebijakan strategis. Perbaikan dan perubahan kondisi lingkungan internal dalam rangka perbaikan berkelanjutan senantiasa kami lakukan untuk meningkatkan kinerja Perusahaan yang telah berada pada jalur yang tepat.

room rate. On the other hand, the need for quality workforce also became another challenge in this industry.

In addressing these conditions, we continuously perform internal improvements through the development of Human Resources on an ongoing basis, and implement appropriate business strategies through proper business studies. We will also continue to maintain the reputation and trust of the Company’s business partners and customers through the commitment of ‘we deliver the promise’. By means of these steps, we are highly optimistic that the Company’s business prospects and future performance achievements will continue to grow enabling the Company seize various opportunities and adapt to future industrial changes.

Analysis of Business Outlook

The global economy in 2019 is expected to be affected by continued financial market volatility and trade tension. Nevertheless, Bank Indonesia projects that, in 2019, Indonesia’s economic growth will remain positive at around the level of 5.0-5.4%, supported by sustained domestic demand and improved net exports. Indonesia’s economic fundamentals in the future are quite stable and capable of creating consumer confidence. We believe that the Company can face challenges in the coming year through various strategic policies as well as performance improvement targets that can enhance operations, and we are optimistic that the Company can recorded positive growth within realistic numbers in the future.

We are targeting to continuously develop the mixed-use property sector which consists of hotels, shopping centers, and apartments in one integrated area. The Company will also implement discipline and focus on the industry in which it is engaged as part of its strategic policy. Improvements and changes in internal environmental conditions in the context of continuous improvement are always carried out to improve the Company’s performance so as to stay on the right track.


38


A C D E F G H

Perseroan tetap optimis bahwa prospek bisnis dan pencapaian kinerja akan semakin baik, serta mampu menangkap berbagai peluang maupun beradaptasi dengan perubahan industri yang semakin kompleks pada masa mendatang.

Perkembangan Penerapan Tata Kelola Perusahaan

Kami menyadari bahwa dengan menerapkan tata kelola perusahaan yang baik atau Good Corporate Governance (GCG) yang efektif dan konsisten, dapat memberikan nilai lebih dan pengaruh positif bagi Perseroan. Nilai lebih tersebut tercipta dari komitmen, pelaksanaan, dan penyelenggaran operasional usaha Perseroan yang berlandaskan prinsip-prinsip GCG disertai dengan senantiasa memelihara keberlanjutan bisnis. Karena itu, kami berkomitmen untuk menempatkan GCG sebagai fondasi utama dalam menjalankan bisnis, serta untuk mempertahankan eksistensi Perseroan dalam menghadapi tantangan dan persaingan usaha di masa-masa mendatang. Keberlangsungan usaha Perseroan dengan kepercayaan pelanggan beserta seluruh pemangku kepentingan lainnya, akan senantiasa meningkatkan kontribusi Perseroan bagi seluruh masyarakat.

Komitmen kami dalam menerapkan GCG dapat terlihat dengan adanya keselarasan pada ketiga aspek governance framework yang kami laksanakan meliputi governance structure, governance process dan governance outcome. Governance structure Perseroan terdiri dari Direksi, Dewan Komisaris, Komite-Komite di bawah Dewan Komisaris, Sekretaris Perusahaan, serta Unit Audit Internal. Kemudian, Governance process berkaitan dengan proses penerapan prinsip GCG yang didukung oleh kecukupan struktur dan infrastruktur GCG dalam rangka menghasilkan outcome yang sesuai dengan harapan seluruh pemangku kepentingan. Governance outcome mencerminkan hasil penerapan governance process dan dukungan dari governance structure. Dengan demikian, kami senantiasa mengembangkan struktur dan mekanisme Tata Kelola yang dapat meningkatkan nilai Perseroan yang berkualitas dan kompetitif.

Perseroan berkomitmen untuk menerapkan GCG melalui governance structure dan governance process yang efektif, dengan tujuan untuk

The Company remains optimistic that it can record better performance achievements and has brighter business outlook, be able to capture various opportunities and adapt to the increasingly complex industrial changes in the future.

Development of Corporate Governance Implementation

We fully understand that an effective and consistent implementation of Good Corporate Governance (GCG) can provide more values and positive influence for the Company. Such added values are generated from the strong commitment and proper implementation of business operations of the Company that are based on GCG principles, accompanied by the effort to maintain business sustainability. Therefore, we are committed to upholding GCG as the primary foundation in carrying out business, and to maintaining the Company’s existence in facing challenges and business competition in the future. The sustainability of Company’s business which is supported by the trust of customers and all other stakeholders, will always leverage the Company’s contribution to the entire community.

Our commitment to proper GCG implementation is reflected on the alignment of the three aspects of governance framework that we carry out, covering governance structure, governance process, and governance outcome. The Company’s governance structure consists of the Board of Directors, Board of Commissioners, Committees under the Board of Commissioners, Corporate Secretary, and the Internal Audit Unit. Governance process relates to the process of implementing GCG principles that is supported by the adequacy of GCG structure and infrastructure in order to produce outcomes that are in line with the expectations of all stakeholders. Lastly, governance outcomes reflect the results of the implementation of governance processes and support from governance structures. To that end, we always develop governance structure and mechanisms that can increase the quality and competitive value of the Company.

The Company is highly committed to implementing GCG through an effective governance structure and governance process, with the aim of producing

B

39


menghasilkan governance outcome yang memuaskan, sesuai dengan harapan seluruh pemangku kepentingan. Perseroan juga senantiasa menjalankan seluruh prinsip tata kelola yaitu Transparency, Accountability, Responsibility, Independency dan Fairness yang telah disepakati oleh seluruh Dewan Komisaris, Direksi dan karyawan.

Berkaitan dengan Whistleblowing System (WBS), Perseroan telah memiliki dan melaksanakan WBS dalam rangka memberikan kesempatan kepada karyawan maupun pihak lain yang beritikad baik melaporkan dugaan pelanggaran terhadap prinsip-prinsip Tata Kelola serta nilai-nilai etika yang berlaku berdasarkan bukti-bukti yang dapat dipertanggungjawabkan guna membawa Perseroan ke arah budaya kejujuran dan keterbukaan.

Sistem Manajemen Risiko dan Pengendalian Internal

Sistem manajemen risiko dan pengendalian internal yang efektif dapat membantu Perseroan dalam menjaga kinerja dengan meminimalkan biaya risiko. Pengelolaan manajemen risiko dan pengendalian internal di lingkungan Perseroan melibatkan setiap individu, unit usaha, maupun kantor pusat. Proses identifikasi risiko merupakan langkah awal dalam penerapan sistem manajemen risiko di Perseroan yang dilakukan secara akurat dan komprehensif.

Perseroan senantiasa mengumpulkan data sebanyak mungkin untuk melihat potensi dan pengukuran risiko yang dilakukan melalui survei, wawancara, data historis, dan brainstorming dalam rapat antar departemen. Kemudian, Perseroan melakukan pengelolaan dan pengendalian risiko dengan menggunakan pendekatan terstruktur mulai dari penilaian risiko hingga pengembangan strategi untuk mengelola dan menyusun mitigasi risiko. Khusus mitigasi risiko, Perseroan menggunakan sumber daya yang dimiliki perusahaan. Dalam proses ini, Perseroan menyusun serangkaian rencana kegiatan penanganan guna memperkecil eksposur risiko. Perseroan juga melakukan evaluasi atas efektivitas sistem manajemen risiko yang dilakukan secara berkala.

satisfactory governance outcomes in accordance with the expectations of all stakeholders. The Company also always carries out all GCG principles, namely Transparency, Accountability, Responsibility, Independency, and Fairness, agreed upon by the Board of Commissioners, Board of Directors and employees.

Regarding the Whistleblowing System (WBS), the Company has established and implements WBS in order to provide opportunities for employees and other parties who have a good intention to report suspected violations of GCG principles and the applicable ethical values. The report shall be based on evidence that can be accounted for in order to bring the Company towards the culture of honesty and openness.

Risk Management and Internal Control Systems

Effective risk management and internal control systems can support the Company in maintaining its performance by minimizing risk costs. The Company’s risk management and internal control involves every individual, business unit, and head office. The risk identification process is the first step in implementing risk management system in the Company, which is carried out accurately and comprehensively.

The Company always collects as much data as possible to observe the potential and measurement of risks. Data collection is carried out through surveys, interviews, historical data, and brainstorming at inter-departmental meetings. Then, the Company manages and controls risk by using a structured approach starting from risk assessment to strategy development so as to manage and formulate risk mitigation. Specific for risk mitigation efforts, the Company utilizes its own resources in which the Company prepares a series of management action plans to minimize risk exposure. The Company also evaluates the effectiveness of risk management system regularly.


40


A C D E F G H

Dalam hal sistem pengendalian Internal, Perseroan menerapkan proses penyatuan tindakan serta kegiatan secara berkesinambungan baik oleh pimpinan perusahaan maupun karyawan untuk memberikan keyakinan atas tercapainya tujuan melalui kinerja yang efektif dan efisien, kehandalan pelaporan keuangan, pengamanan aset, serta ketaatan terhadap peraturan perundang-undangan. Pada tahun 2018, Perseroan telah melaksanakan evaluasi atas efektivitas sistem manajemen risiko dan pengendalian internal Perseroan yang dilakukan oleh manajemen, dan menghasilkan kesimpulan bahwa sistem manajemen risiko dan pengendalian internal Perseroan telah berjalan dengan efektif.

Tanggung Jawab Sosial Perusahaan

Kami memaknai substansi tanggung jawab sosial perusahaan atau Corporate Social Responsibility (CSR) selain mengarah kepada upaya Perseroan untuk membangun hubungan yang harmonis dan saling menguntungkan dengan lingkungan, komunitas dan pemegang kepentingan yang terhubung dengannya, namun juga mengarah pada upaya untuk memberikan dampak positif terhadap pola pikir dan kehidupan masyarakat dan lingkungan. Pada tahun 2018, kami memulai inisiatif melaksanakan CSR secara terpadu yang melibatkan semua bisnis unit yang ada di Bali dengan program Business Continuity Plan (BCP). Dalam program tersebut, kami membantu sekitar 100 UMKM di Bali untuk mengembangkan kompetensi dan pendampingan dalam menjalankan kegiatan usaha yang kuat dalam menghadapi bencana.

Kami menghindari pelaksanaan CSR yang sekedar bertujuan untuk meningkatkan citra perusahaan di mata masyarakat dan lingkungan bisnis. Lebih dari itu, melalui program BCP, penyelenggaraan CSR oleh Perseroan memiliki tujuan yang jelas, yakni memberi dampak positif dan memajukan kondisi sosial komunitas dan masyarakat yang terhubung dengan Perseroan dengan pelaksanaan program tepat guna dan berdampak jangka panjang secara bertahap, kemudian mengembangkan program-program tersebut secara berkelanjutan.

In terms of internal control system, the Company implements a process of unifying actions and activities on an ongoing basis, both by Company’s leaders and employees, to provide confidence in achieving goals through effective and efficient performance, reliability of financial reporting, asset security, and compliance with the laws and regulations. In 2018, the Company carried out an evaluation of the effectiveness of its risk management and internal control systems carried out by management, and concluded that the Company’s risk management and internal control systems had been running effectively.

Corporate Social Responsibil ity

We define the substance of Corporate Social Responsibility (CSR) as the efforts to have a positive impact on the mindset and community and environmental life in addition to building harmonious and mutually beneficial relationships with the environment, communities and the related stakeholders. Over the course of 2018, we began an initiative to implement CSR in an integrated manner which involved all business units in Bali with the Business Continuity Plan (BCP) program. In this program, we provided support and mentoring activity to around 100 MSMEs in Bali to develop competencies in carrying out strong business activities that are resilient against disasters.

We avoid the implementation of CSR activity which merely aims to improve the Company’s image in the eyes of the public and the business environment. But more than that, through the BCP program, the implementation of CSR activity by the Company has a clear goal to bring positive impact and to advance the social conditions of communities that are connected to the Company, by implementing appropriate and long-term programs in stages, then developing these programs sustainably.

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41


Perubahan Komposisi Anggota Direksi

Sepanjang tahun 2018, Perseroan tidak melakukan perubahan komposisi anggota Direksi.

Apresiasi dan Penutup

Dengan berakhirnya laporan ini, kami selaku Direksi menyampaikan terima kasih sebesar-besarnya kepada Pemegang Saham atas kepercayaan yang telah diberikan kepada kami. Ucapan terima kasih juga kami sampaikan kepada Dewan Komisaris yang secara efektif melakukan proses check and balance melalui pengawasan serta pemberian masukan dan saran dalam rangka mewujudkan pengelolaan kegiatan usaha yang tepat sesuai dengan ketentuan yang berlaku serta dalam rangka mengembangkan kegiatan bisnis Perseroan, baik sepanjang tahun buku 2018 maupun untuk tahun-tahun yang akan datang.

Ucapan terima kasih dan penghargaan yang tinggi, tak lupa juga kami sampaikan kepada seluruh karyawan yang telah berkarya dengan penuh dedikasi dan kecintaan dalam melaksanakan tugas dan tanggung jawab masing-masing serta mendukung upaya untuk mewujudkan Visi, Misi dan Target Perseroan. Kepada seluruh pemangku kepentingan lainya, kami juga mengucapkan terima kasih telah menjalin kerjasama terbaik sehingga Perseroan dapat mencapai berbagai kinerja yang baik. Pada masa mendatang, kami akan terus berupaya mencapai kinerja terbaik dengan membangun dan mempertahankan reputasi melalui tekad pencapaian kesempurnaan kinerja serta kepuasan pelanggan.

Terima kasih.

Changes in Board of Directors Composition

There was no change in the composition of Board of Directors in 2018.

Appreciation and Closing

To conclude this report, we, the Board of Directors, would like to express our utmost gratitude to the Shareholders for the trust that has been given to us. Our gratitude also goes to the Board of Commissioners for their efforts in conducting check-and-balance process effectively through the supervisory and advisory activities, in order to realize proper management of business activities in accordance with applicable regulations, and to develop the Company’s business activities, both throughout 2018 fiscal year and for the years to come.

We would also like to convey our utmost gratitude and appreciation to all employees who have demonstrated their dedication and commitment in carrying out their respective duties and responsibilities and in supporting the efforts to realize Company’s Vision, Mission, and Objectives. We also thank all other stakeholders of the Company for the best cooperation that has been established so far which enables the Company to achieve noteworthy performance. In the future, we will continuously strive to achieve the best performance by building and maintaining the Company’s reputation through the determination to achieve perfection in performance and realize customer satisfaction.

Thank you.

Agoes Soelistyo SantosoPresiden DirekturPresident Director


ggan. customer satisfaction.

Thank you.



HALAMAN INI SENGAJA DIKOSONGKANTHIS PAGE IS INTENTIONALLY LEFT BLANK

Kami yang bertanda tangan di bawah ini menyatakan bahwa semua informasi dalam Laporan Tahunan PT Indonesian Paradise Property Tbk tahun 2018 telah dimuat secara lengkap dan bertanggung jawab penuh atas kebenaran isi Laporan Tahunan Perusahaan.

Demikian pernyataan ini dibuat dengan sebenarnya.

We, the undersigned, testify that all information in the Annual Report of PT Indonesian Paradise Property Tbk for 2018 is presented in its entirety and we are fully responsible for the correctness of the contents in the Annual Report of the Company.

This statement is hereby made in all truthfulness.

SURAT PERNYATAAN ANGGOTA DEWAN KOMISARIS DAN DIREKSI TENTANG TANGGUNG JAWAB ATAS LAPORAN TAHUNAN 2018 PT INDONESIAN PARADISE PROPERTY Tbk

STATEMENT OF MEMBERS OF BOARD OF COMMISSIONERS AND BOARD OF DIRECTORSON THE RESPONSIBILITY FOR THE 2018 ANNUAL REPORT

OF PT INDONESIAN PARADISE PROPERTY Tbk

Jakarta, 30 April 2019



Hadi CahyadiWakil Presiden Komisaris & Komisaris Independen

Vice President Commissioner cum Independent Commissioner

Amelia GozaliKomisaris

Commissioner

Karel PatipeilohyKomisaris

Commissioner

Dewan KomisarisBoard of Commissioners

Hadi CahyadiWakil Presiden Komisaris & Komisaris Independen


cum Independent Commissioner

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Commissioner

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Commissioner


Alexander Nartates NartatesDirektur IndependenIndependent Director

Anthony Prabowo SusiloWakil Presiden DirekturVice President Director

Patrick Santosa RendradjajaDirekturDirector

Diana SolaimanDirekturDirector

DireksiBoard of Directors


Anthony Prabowo SusiloWakil Presiden DirekturVice President Director

Diana SolaimanDirektur

Patrick Santntntttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttntttttoosa RendradjajaDirekturDirector

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HALAMAN INI SENGAJA DIKOSONGKANTHIS PAGE IS INTENTIONALLY LEFT BLANK

46


A B C D E F G HA

PROFILPERUSAHAAN

COMPANY PROFILE

C


INFORMASI UMUMPERUSAHAANGeneral Information

NAMA PERUSAHAANName of the Company PT Indonesian Paradise Property Tbk

14.06.1996 Perseroan efektif berubah nama menjadiPT Indonesian Paradise Property Tbk sejak tanggal 14 Juli 2004, yang semula bernamaPT Penta Karsa Lubrindo.

The Company, which initially operated under the name of PT Penta Karsa Lubrindo, changed its name into PT Indonesian Paradise Property Tbk effective on 14 July 2004.

TANGGAL PENDIRIANDate of Establishment

INFORMASI PERUBAHAN NAMAInformation on Company’s Name Change

KEGIATAN USAHABusiness Activities

Penyediaan Akomodasi (Hotel) Accommodation (Hotel) Service

Akta No. 96 Tanggal 14 Juni 1996 Deed No. 96 dated 14 June 1996

Centennial Tower, 30th floor. Jl. Gatot Subroto Kav. 24-25, Jakarta 12930, Indonesia

Ph. (62-21) 2988 0466Fax. (62-21) 2988 0460Emailinfo@theparadise-group.comWebsitewww.theparadise-group.com

ALAMAT KANTOR Office Address

Rp4.000.000.000.000

MODAL DASARAuthorized Capital

Rp1.118.197.173.200

MODAL DITEMPATKAN DAN DISETOR PENUH Issued and Fully Paid Capital

PENCATATAN SAHAM DI BURSA EFEK Share Listing on Stock Exchange

01.12.2004JUMLAH SAHAM YANG BEREDAR Total Outstanding Shares

11.181.971.732

- PT Grahatama Kreasibaru- UBS AG Singapore S/A Anemone

Continental SA- Standard Chartered Bank SG S/A VP

Bank for A/C Star East Development Corporation

- Elysium Investment Partners Limited- Masyarakat/Public

PEMEGANG SAHAM Shareholders KODE SAHAM

Ticker Code

INPP

ASET 2018Assets in 2018

Rp6.964.734.840.779

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- Elysium Investment Partners Limited- Masyarakat/Public

Rp6.964.734.840.779


lembar saham shares

H


48

A B D E F GC

JEJAKLANGKAHMilestones

1996Pendirian PerseroanThe establishment of the company

2002Peresmian HARRIS Hotel Tuban- BaliInauguration of HARRIS Hotel Tuban - Bali

2004• Pendaftaran PT Indonesian

Paradise Property Tbk menjadi perusahaan publik

• Pencatatan PT Indonesian Paradise Property Tbk ke Bursa Efek Surabaya

• Peresmian HARRIS Resort Kuta Beach – Bali

• PT Indonesian Paradise Property Tbk became a Public Company

• PT Indonesian Paradise Property Tbk was listed in the Surabaya Stock Exchange.

• Inauguration of HARRIS Resort Kuta Beach – Bali

2012• Pembukaan POP! Hotel Sangaji – Yogyakarta• Peresmian Kawasan Sahid Kuta

Lifestyle Resort (beachwalk, Sheraton Bali Kuta Resort, HARRIS Resort Kuta Beach – Bali)

• Grand Opening of POP! Hotel Sangaji – Yogyakarta

• Inauguration of Sahid Kuta Lifestyle Resort (beachwalk, Sheraton Bali Kuta Resort, HARRIS Resort Kuta Beach – Bali)

2011• Peresmian HARRIS Hotel Batam Center – Batam• Peresmian HARRIS Suites fX

Sudirman – Jakarta

• Inauguration of HARRIS Hotel Batam Center – Batam

• Inauguration of HARRIS Suites fX Sudirman – Jakarta

2007Bursa Efek Jakarta bergabung dengan Bursa Efek Surabaya menjadi Bursa Efek Indonesia dan saham PT Indonesian Paradise Property Tbk secara otomatis tercatat di Bursa Efek Indonesia.

Jakarta Stock Exchange merged with Surabaya Stock Exchange into Indonesia Stock Exchange and the shares of PT Indonesian Paradise Property Tbk were listed on Indonesia Stock Exchange automatically.

2005Peresmian HARRIS Hotel Tebet– JakartaInauguration of HARRIS Hotel Tebet – Jakarta

2013Peresmian Cikini Gold Center- JakartaInauguration of Cikini Gold Center - Jakarta

2015• Peresmian Park23 Entertainment Center – Bali• Perseroan melakukan Penawaran Umum

Terbatas I (PUT I)• Dari PUT 1, Perseroan membeli saham: PT

Plaza Indonesia Realty Tbk, PT Sepingan Properti, PT Mitra Perdana Nuansa, PT Anugerah Nusaraya, dan PT Mitra Gemilang Mahacipta

• Inauguration of Park23 Entertainment Center – Bali • The Company carried out Right Issue I• From Right Issue I, the Company acquired

the shares of PT Plaza Indonesia Realty Tbk, PT Sepingan Properti, PT Mitra Perdana Nuansa, PT Anugerah Nusaraya, and PT Mitra Gemilang Mahacipta

2018

2016• Beroperasinya Maison Aurelia Sanur – Bali• Divestasi PT Sepingan Properti• Soft opening of Maison Aurelia Sanur – Bali • Divestment of PT Sepingan Properti

2017• Peresmian 23 Paskal Shopping Center – Bandung• Peletakan batu pertama One Residence – Batam• Pembongkaran HARRIS Resort Kuta Beach – Bali

• Topping off One Residence - Batam• Relaunching HARRIS Resort Waterfront

Batam - New Generation• Pengembangan Sahid Kuta Lifestyle Resort – II, Bali

• Inauguration of 23 Paskal Shopping Center – Bandung• Groundbreaking of One Residence – Batam• Demolition of HARRIS Resort Kuta Beach – Bali

• Topping off of One Residence - Batam• Relaunching of HARRIS Resort Waterfront

Batam - New Generation• Development of Sahid Kuta

Lifestyle Resort – II, Bali

49


SOPHIS TICATED

49

PHISIS OPAT

S OCATE

OICATEOICATED

SOICATED

SOTICATEDSOTICATEDSTICATEDSTICATEDTICATEDTICATEDTICATEDTIT

beachwalk Shopping Center Bali

Profil Perusahaan • Company ProfileCompany Profile

50


H

RIWAYAT SINGKATPERUSAHAAN Brief History of Company

Sekilas Perusahaan

PT Indonesian Paradise Property Tbk berdiri pada tanggal 14 Juni tahun 1996 dengan nama PT Penta Karsa Lubrindo. Perseroan didirikan berdasarkan Akta Pendirian No. 96 tanggal 14 Juni 1996 yang kemudian diubah dengan Akta No. 42 tanggal 8 Januari 1997. Kedua akta tersebut dibuat di hadapan Buntario Tigris Darmawa, NG, SH, CN., pengganti dari Rachmat Santoso, SH., Notaris di Jakarta dan telah mendapatkan pengesahan dari Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C21030 HT.01.01.TH.97 tanggal 12 Februari 1997 serta diumumkan dalam Berita Negara Republik Indonesia No. 21 tanggal 12 Maret 2002 Tambahan No. 2574. Kemudian, Perseroan melakukan perubahan nama menjadi PT Indonesian Paradise Property Tbk berdasarkan Akta Berita Acara No. 4 Tanggal 6 Juli 2004 yang dibuat di hadapan Robert Purba, SH., dimana juga dilakukan perubahan Anggaran Dasar Perseroan yang disesuaikan dengan SK Bapepam No. Kep-13/PM/1997 tentang pokok-pokok Anggaran Dasar Perseroan yang melakukan Penawaran umum Efek Ekuitas dan Perusahaan Publik.

Anggaran Dasar Perseroan telah disesuaikan dengan Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas dengan Akta No.161 Tanggal 30 Juni 2008, dibuat di hadapan Robert Purba, SH., Notaris di Jakarta dan telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat Keputusan No. AHU-70491.AH.01.02 Tahun 2008, tanggal 6 Oktober 2008 yang selanjutnya diumumkan dalam Berita Negara Republik Indonesia No. 40 Tanggal 19 Mei 2009 Tambahan 13231.

Anggaran Dasar Perseroan mengalami perubahan beberapa kali dan disesuaikan dengan ketentuan Otoritas Jasa Keuangan dengan Akta Pernyataan Keputusan Rapat No.144, tanggal 12 Juni 2015,

Company at a Glance

PT Indonesian Paradise Property Tbk was established on 14 June 1996 under the name of PT Penta Karsa Lubrindo pursuant to the Deed of Establishment No. 96 dated 14 June 1996, which was amended later on by Deed No. 42 dated 8 January 1997. Both Deeds were drawn up by Buntario Tigris Darmawa, NG, SH, CN, substitute Notary of Rachmat Santoso, SH., Notary in Jakarta, and were ratified by the Minister of Justice of the Republic of Indonesia through Decree No. C21030 HT.01.01.TH.97 dated 12 February 1997 and announced in the State Gazette of the Republic of Indonesia No. 21 dated 12 March 2002, Supplement to No. 2574. The Company then changed its name to PT Indonesian Paradise Property Tbk pursuant to Deed of Minutes No. 4 dated 6 July 2004, drawn up by Robert Purba, SH., Notary in Jakarta. An ammendment was made to the Company’s Articles of Association in accordance with the Decree of Head of Capital Market Supervisory Board (Bapepam) No. Kep-13/PM/1997 on Principals of Articles of Association of the Company conducting Equity Securities Right Issue and Public Companies.

The Company’s Articles of Association had been adjusted to the Law No. 40 of 2007 regarding Limited Liability Companies under Deed No. 161 dated 30 June 2008, drawn up by Robert Purba, SH., Notary in Jakarta, and ratified by the Minister of Justice and Human Rights of the Republic of Indonesia through Decree No. AHU-70491.AH.01.02 Tahun 2008 dated 6 October 2008, and announced in the State Gazette of the Republic of IndonesiaNo. 40 dated 19 May 2009, Supplement to No. 13231.

The Company’s Articles of Association had been amended several times, whereby had been adjusted to the provision of Financial Services Authority by virtue of Deed of Statement of Meeting Resolution

A B D E F GC

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dibuat di hadapan Dr. Irawan Soerodjo, SH., MSi., Notaris di Jakarta; yang telah memperoleh persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Keputusan No.AHU-0937288.AH.01.02.Tahun 2015, tanggal 15 Juni 2015; dan diberitahukan dengan Penerimaan Pemberitahuan No. AHUAH.01.03-0941518, tanggal 15 Juni 2015; dan terakhir diubah dengan Akta Pernyataan Keputusan Rapat No. 206, tanggal 22 September 2015, dibuat di hadapan Dr. Irawan Soerodjo, SH., MSi., Notaris di Jakarta; yang telah memperoleh persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Keputusan No. Penerimaan Pemberitahuan Perubahan Anggaran Dasar No. AHU-AH.01.03-0967133, tanggal 23 September 2015.

Pernyataan Pendaftaran Perseroan sebagai Perusahaan Publik dinyatakan efektif oleh Badan Pengawas Pasar Modal (Bapepam) pada tanggal 21 September 2004 dengan surat No. S-2970/PM/2004. Kemudian, Perseroan mencatatkan sahamnya di Bursa Efek Surabaya pada tanggal 1 Desember 2004. Merger antara Bursa Efek Surabaya dan Bursa Efek Jakarta menjadi Bursa Efek Indonesia pada tanggal1 Desember 2007 membuat saham Perseroan secara otomatis juga tercatat di Bursa Efek Indonesia.

Informasi Singkat Perubahan Nama Perusahaan

Perubahan nama Perseroan disertai dengan persetujuan penjualan saham, perubahan susunan pengurus, maksud dan tujuan Perseroan serta Peningkatan Modal Dasar Perseroan. Akta perubahan nama Perseroan, telah diterima dan dicatat dalam Database Sisminkum Direktorat Jenderal Administrasi Hukum Umum Departemen Kehakiman dan Hak Asasi Manusia Republik Indonesia dengan penerimaan Laporan Akta Perubahan Anggaran Dasar No. C-17575 HT.01.04.TH.2004 Tanggal 14 Juli 2004. Akta tersebut juga telah mendapat persetujuan dari Menteri Kehakiman dan Hak Asasi Manusia dengan Surat Keputusan No. C-17194 HT.01.04.TH.2004 Tanggal 12 Juli 2004 yang selanjutnya diumumkan dalam Berita Negara Republik Indonesia No. 89 Tanggal 5 November 2004 Tambahan No. 11041. Tanggal efektif perubahan nama Perseroan adalah pada tanggal 14 Juli 2004.

No. 144, dated 12 June 2015, drawn up by Dr. Irawan Soerodjo SH., Msi., Notary in Jakarta; which had been approved by the Minister of Justice and Human Rights of the Republic of Indonesia through Decree No. AHU-0937288.AH.01.02.Tahun 2015, dated 15 June 2015; and had been notified through Notification Receipt No. AHUAH.01.03-0941518, dated 15 June 2015; and last amended by virtue of Deed of Statement of Meeting Resolution No. 206, dated 22 September 2015, drawn up by Dr. Irawan Soerodjo SH., Msi., Notary in Jakarta; which had received a Letter of Receipt Notification of Changes to the Articles of Association No. AHU-AH.01.03-0967133, dated 23 September 2015.

The statement of the Company’s registration as a Public Company was deemed effective by the Capital Market Supervisory Board (Bapepam) on 21 September 2004, under letter No. S-2970/PM/2004. Based on the letter, the Company listed its shares on Surabaya Stock Exchange on 1 December 2004. With the merger of Surabaya Stock Exchange and Jakarta Stock Exchange into the Indonesia Stock Exchange on 1 December 2007, the Company’s shares were automatically listed on Indonesia Stock Exchange.

Brief Information on Change of Company Name

The changing of Company’s name was followed by the approval for the sales of shares, reformation of management board, revision in the Company’s purposes and objectives and the Increase of the Company’s Authorized Capital. The deed that stipulated the Company’s name changing has been received and recorded in the Database of Legal Entity Administration System, Directorate General of Public Law Administration of the Department of Justice and Human Rights of the Republic of Indonesia with the receipt of Report on Amendment to the Company’s Articles of Association No. C-17575 HT.01.04.TH.2004 dated 14 July 2004. The deed had also been approved by the Minister of Justice and Human Rights by virtue of Decree No. C-17194 HT.01.04.TH.2004 dated 12 July 2004, and accordingly announced on the State Gazette of the Republic of Indonesia No. 89 dated 5 November 2004, Supplement to No. 11041. The effective date of the Company’s name changing was 14 July 2004.


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HA B D E F G

Kegiatan Usaha Menurut Anggaran Dasar dan Kegiatan Usaha yang Dijalankan

Berdasarkan Anggaran Dasar terakhir, yakni Akta Pernyataan Keputusan Rapat No. 271 Tanggal 24 Juni 2011 yang dibuat oleh Dr. Irawan Soerodjo, SH, MSi., Notaris di Jakarta dan telah disetujui oleh Menteri hukum dan hak Asasi Manusia Republik Indonesia dengan keputusan No. AHU-41199.AH.01.02 Tahun 2011 tanggal15 Agustus 2011 menyebutkan bahwa Perseroan bergerak dalam bidang penyediaan akomodasi (hotel). Bidang usaha Perseroan tersebut telah dicantumkan dalam Daftar Perseroan No. AHU-0067558.AH.01.09 Tahun 2011 tanggal15 Agustus 2011 mengenai Perubahan Pasal 3 yaitu Maksud dan Tujuan serta Kegiatan Usaha.

Hingga per 31 Desember 2018, Perseroan telah menjalankan kegiatan usaha yang tercantum dalam Anggaran Dasar terakhir.

Produk dan Jasa

Perseroan senantiasa melakukan langkah-langkah strategis guna mewujudkan visi Perseroan yakni selalu berupaya untuk unggul dalam pengembangan properti melalui pencapaian yang inovatif dan kreatif. Salah satunya adalah dengan mengembangkan bisnis yang tidak hanya dalam perhotelan tetapi juga pusat perbelanjaan dan apartemen.

Business Activities According to Articles of Association and Business Activities Undertaken

Based on the most recent Articles of Association stipulated under in Deed of Meeting Resolution No. 271 dated 24 June 2011, drawn up byDr. Irawan Soerodjo, SH, Msi., Notary in Jakarta and approved by the Minister of Justice and Human Rights of the Republic of Indonesia under Decree No. AHU-41199.AH.01.02 Tahun 2011 dated 15 August 2011, the Company is engaged in the provision of accommodation (hotel) service. The Company’s business lines have been stipulated in the Company Register under No. AHU-0067558.AH.01.09 Tahun 2011 dated 15 August 2011, regarding the Amendment to Article 3 on Purposes and Objectives and Business Activity.

Up until 31 December 2017, the Company has carried out business activities as stipulated in the last amendment to the Articles of Association.

Products and Services

The Company continues to carry out strategic measures to achieve its vision of striving for excellence in property development through innovative and creative achievements. One of the strategies conducted is by developing business that is not only related to hospitality field, but also shopping centers and apartments.

BIDANGUSAHA Lines of Business

C

53


Unit-Unit Usaha

Pada tahun 2018, unit-unit usaha Perseroan yang telah beroperasi secara penuh sebagai berikut:

Business Units

The Company’s business units that have been fully operating during 2018 are as follows:

• HARRIS Hotel Tuban – Bali• beachwalk Shopping Center – Bali• Sheraton Bali Kuta Resort• Park23 Entertainment Center – Bali• Maison Aurelia Sanur – Bali

Jakarta• HARRIS Hotel Tebet – Jakarta• HARRIS Suites fX Sudirman – Jakarta• Cikini Gold Center – Jakarta• Plaza Indonesia Shopping Center – Jakarta• Grand Hyatt Jakarta• fX Sudirman – Jakarta• Keraton at The Plaza (Keraton Luxury

Collection Hotel & Keraton Private Residence)• The Plaza Office Tower – Jakarta

Batam• HARRIS Hotel Batam Center – Batam• HARRIS Resort Waterfront Batam

Yogyakarta• POP! Hotel Sangaji – Yogyakarta

Bandung• 23 Paskal Shopping Center – Bandung

Bali• HARRIS Hotel Tuban – Bali• beachwalk Shopping Center – Bali• Sheraton Bali Kuta Resort• Park23 Entertainment Center – Bali• Maison Aurelia Sanur – Bali

Jakarta• HARRIS Hotel Tebet – Jakarta• HARRIS Suites fX Sudirman – Jakarta• Cikini Gold Center – Jakarta• Plaza Indonesia Shopping Center – Jakarta• Grand Hyatt Jakarta• fX Sudirman – Jakarta• Keraton at The Plaza (Keraton Luxury

Collection Hotel & Keraton Private Residence)• The Plaza Office Tower – Jakarta

Batam• HARRIS Hotel Batam Center – Batam• HARRIS Resort Waterfront Batam

Yogyakarta• POP! Hotel Sangaji – Yogyakarta

Bandung• 23 Paskal Shopping Center – Bandung

Bali

pp g g pp g g

HARRIS Hotel Tuban Bali

54


H

ELVAN PRAWIRAI WAYAN DHARMA

A. LUSIANA MOCHTAROwner Representatives

A B D E F G

STRUKTUR ORGANISASI Organization Structure

TODO SIHOMBINGPresiden Komisaris merangkap Komisaris Independen


HADI CAHYADIWakil Presiden Komisaris merangkap Komisaris Independen

Vice President Commissioner cum Independent Commissioner

AMELIA GOZALIKomisaris • Commissioner

KAREL PATIPEILOHY Komisaris • Commissioner

AGOES SOELISTYO SANTOSOPresiden Direktur • President Director

ANTHONY PRABOWO SUSILOWakil Presiden Direktur • Vice President Director

ALEXANDER NARTATES NARTATES Direktur Independen • Independent Director

PATRICK SANTOSA RENDRADJAJA Direktur • Director

DIANA SOLAIMAN Direktur • Director

ISPANDIATI MAKMURCorporate Secretary

MANAURI PARDEDEInternal Audit

SITI UTAMIOffice Support

Sales & Marketing

Room & Housekeeping

Food & Beverege

Engineering

Front Office

TAUFIK LIEFinance & Accounting

Finance

Accounting

DJATIKESUMO SUBAGIODevelopment

Business Development

Project Development

ISPANDIATI MAKMURLegal

Legal

License

VERONICA PRATIWIHuman Resources

Personnel

Administration

Training

HADI CAHYADI Ketua merangkap Komisaris IndependenChairman cum Independent Commissioner

ANANG YUDIANSYAHKURNIADI

Anggota • Members




C

A. LUSIANA MOCHTAROperation

55


VISI DAN MISI

NILAI-NILAI PERUSAHAAN

Vision and Mission

Corporate Values

VISI • VISION

MISI • MISSION

Selalu berupaya untuk unggul dalam pengembangan properti melalui pencapaian yang inovatif dan kreatif.

Striving for excellence in property development through innovative and creative achievements.

• Menciptakan lingkungan kerja yang dapat memotivasi para individu dalam Perseroan untuk bisa memunculkan ide-ide yang inovatif dan kreatif.

• Mengembangkan produk-produk inovatif yang didukung oleh pelayanan yang unggul.

• Memberikan kepuasan kepada siapa saja yang memiliki kepentingan terhadap Perusahaan (stakeholders).

• Creating work environment which is able to motivate individuals within the Company to emerge their innovative and creative ideas.

• Developing innovative products supported by excellent services.• Delivering satisfaction to the stakeholders.

Perusahaan dikelola secara professional oleh individu-individu yang mempunyai high commitment dan passion terhadap masing-masing tugasnya serta mengutamakan teamwork di atas kemampuan individual.

The Company is professionally managed by inviduals with high commitment and passion towards their duties and prioritize on teamwork over individual capabilities.


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A B D E F G HC

IDENTITAS PERUSAHAANCorporate Identity

Logo Perseroan merupakan bagian utama dari identitas kami. Logo ini terdiri dari empat warna, yang dikreasikan bersama-sama membentuk kekuatan dan nilai-nilai organisasi dalam satu lambang yang kuat dan mudah dikenal. Warna hijau melambangkan kedekatan Perseroan dengan alam, dipadukan dengan warna biru yang membentuk ombak memiliki arti sentuhan usaha Perseroan yang dinamis. Kemudian, logo Perseroan ditambah dengan penggunaan bunga sebagai latar belakang yang mencerminkan filosofi estetika yang melekat pada unit usaha Perseroan.

Logo tersebut juga menggunakan warna hitam untuk memberikan penekanan pada warna jingga sebagai simbol kemewahan hotel Perseroan. Secara keseluruhan, logo Perseroan diciptakan secara khusus untuk membedakan kami sebagai salah satu perusahaan penyedia akomodasi (hotel), yang senantiasa berupaya untuk unggul dalam pengembangan properti melalui pencapaian yang inovatif dan kreatif.

The Company’s logo is the key part of our identity. The logo consists of four colors to jointly illustrate the strength and values of the organization within a strong and easily recognized symbol. The green color symbolizes the Company’s closeness with nature and, combined with the blue color drawn in the wave shape, depicts the Company’s dynamic business. The flower image on the logo is used to represent the philosophy of beauty that is inherent in each business unit of the Company.

The logo also uses black color to emphasize the central orange color as a symbol of luxury of the Company’s hotels. Overall, the Company’s logo is created specifically to distinguish us as one of the providers of accommodation (hotel), which always strives for excellence in property development through innovative and creative achievements.

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Perseroan merupakan salah satu pengembang hotel dan iconic lifestyle destinations yang telah bertahan lebih dari satu dasawarsa menerapkan langkah-langkah yang konsisten untuk dapat bersaing diantara banyaknya pesaing di industri perhotelan nasional. Perseroan juga dihadapkan pada semakin ketatnya aturan pemerintah dan keterbatasan lahan. Dengan demikian, penerapan strategi yang tepat sangat dibutuhkan Perseroan untuk dapat bertahan dan bersaing, sehingga dapat meningkatkan keunggulan kompetitif Perseroan di industri perhotelan.

Di sisi lain seluruh kegiatan operasional Perseroan harus dapat meningkatkan efisiensi operasional serta mampu mengatasi hambatan dan ancaman yang dihadapi. Dengan menganalisis strategi apa yang dapat diterapkan Perseroan dalam menghadapi permasalahan yang telah disebutkan, Perseroan juga dapat menganalisis apakah strategi yang diterapkan tersebut membuat Perseroan dapat meningkatkan keunggulan bersaing.

The Company is one of the developers of hotel and iconic lifestyle destination with more than twenty years of experience. During that period, the Company has consistently implemented various strategies in order to compete with other domestic players in hospitality industry. The Company also faces other challenges in the form of government regulations that have become stricter as well as the limited availability of land. Thus, correct strategy implementation is highly required to sustain Company’s business and compete with other companies so as to enhance its competitive advantage in hospitality industry.

On the other hand, all operational activities of the Company must be able to leverage its efficiency and overcome various challenges and threats. By analyzing the strategies to be implemented to face the challenges, the Company shall also be capable of analyzing whether the applied strategy will bring advantages and advance its competitive edge.


KEUNGULAN KOMPETITIFCompetit ive Excellence

58


A B D E F G H

Informasi mengenai nama pemegang saham terbesar, pemegang saham yang memiliki saham lebih dari 5%, serta pemegang saham masyarakat dengan kepemilikan saham masing-masing kurang dari 5% hingga periode 31 Desember 2018 sebagai berikut:

Information on the name of majority shareholders, shareholders with more than 5% of shares and public shareholders with less than 5% of shares up to December 31, 2018, is as follows:

KOMPOSISI PEMEGANG SAHAMComposition of Shareholders

PEMEGANG SAHAMShareholders

SAHAM Shares

LEMBAR SAHAM Shares

NOMINAL (RP100/SAHAM)

Nominal Values (Rp100/share)

%

Modal DasarAuthorized Capital 40.000.000.000 4.000.000.000.000

Modal Ditempatkan dan Disetor Issued and Paid Up Capital

PT Grahatama Kreasibaru 4.136.971.279 413.697.127.900 37,00

UBS AG Singapore S/AAnemone Continental SA 2.473.154.873 247.315.487.300 22,12

Standard Chartered Bank SG S/A VP Bank for A/C Star East Development Corporation

2.307.593.000 230.759.300.000 20,64

Elysium Investment Partners Limited 2.012.754.912 201.275.491.200 18,00

Masyarakat Public 251.497.668 25.149.766.800 2,24

Jumlah Modal Ditempatkan & Disetor Penuh Total Issued & Paid Up Capital 11.181.971.732 1.118.197.173.200 100

C

59



NAMAName

JABATAN Position

JUMLAH SAHAMTotal Shares

%

Todo Sihombing Presiden Komisaris merangkap Komisaris Independen President Commissioner cum Independent Commissioner 0 0

Hadi Cahyadi Wakil Presiden Komisaris merangkap Komisaris IndependenVice President Commissioner cum Independent Commissioner

0 0

Karel Patipeilohy KomisarisCommissioner 1.000.000 0,01

Amelia Gozali KomisarisCommissioner 0 0

Agoes Soelistyo Santoso Presiden DirekturPresident Director 0 0

Anthony Prabowo Susilo Wakil Presiden DirekturVice President Director 0 0

Alexander NartatesNartates

Direktur IndependenIndependent Director 0 0

Patrick SantosaRendradjaja

DirekturDirector 5.000.000 0,04

Diana Solaiman DirekturDirector 3.750.000 0,03

KEPEMILIKAN SAHAM PERSEROAN OLEH MANAJEMENCompany Share Ownership by Management

KEPEMILIKANDescription

NOMINALNominal Values

%

Kepemilikan Institusi Lokal Local Institution Shareholding 423.105.164.500 37,84

Kepemilikan Institusi Asing Foreign Institution Shareholding 689.441.278.500 61,66

Kepemilikan Individu Lokal Local Individual Shareholding 5.550.730.200 0,49

Kepemilikan Individu Asing Foreign Individual Shareholding 100.000.000 0,01

TOTAL 1.118.197.173.200 100

JUMLAH PEMEGANG SAHAM DAN PERSENTASE KEPEMILIKANNumber of Shareholders and Shareholding Percentage

60


A B D E F G H

22,12%

37,00%20,64%

18,00%2,24%

PT Grahatama Kreasibaru

Elysium Investment Partners Limited

UBS AG Singapore S/AAnemone Continental SA

DB Spre DCS A/C VP Bankfor Star East Development

Public

SKEMA PEMEGANG SAHAM UTAMA DAN PENGENDALI Structure of Main and Controll ing Shareholders

NAMA DAN ALAMAT ANAK PERUSAHAAN, PERUSAHAAN ASOSIASI DAN PERUSAHAAN VENTURA BERSAMAName and Address of Subsidiary, Associate Entit ies and Joint Venture

ANAK PERUSAHAAN/PERUSAHAAN ASOSIASI

Subsidiary/Associate Entities

BIDANG USAHABusiness Line

PERSENTASE KEPEMILIKAN

SAHAM PERSEROAN (%)Company Shareholding

Percentage (%)

TOTAL ASET 2018Total Assets in 2018

STATUSOPERASIONAL

OperationalStatus

PT Aneka Bina Laras Pembangunan dan JasaDevelopment and Service 51 95.107.920.365 Beroperasi

Operating

PT Padma Suasa Penyedia akomodasi (hotel) Accommodation (hotel) service

99,99 melalui PT Aneka Bina Laras99.99 through PT AnekaBina Laras

30.312.980.001 BeroperasiOperating

PT Anugerah Nusaraya Penyedia akomodasi (hotel) Accommodation (hotel) service 60 112.630.592.200 Beroperasi

Operating

C

61



ANAK PERUSAHAAN/PERUSAHAAN ASOSIASI

Subsidiary/Associate Entities

BIDANG USAHABusiness Line

PERSENTASE KEPEMILIKANSAHAM PERSEROAN (%)

Company Shareholding Percentage (%)

TOTAL ASET 2018Total Assets in 2018

STATUSOPERASIONAL

OperationalStatus

PT Dinamika Putra Perkasa

Perdagangan umum dan investasiGeneral trading and investment

60 20.053.432.708 BelumBeroperasiStandby

PT Magna Terra Perdagangan umumGeneral trading

51,00 melalui PT Dinamika Putra Perkasa51.00 through PTDinamika Putra Perkasa


PT Eka Ilalang Suryadinamika

Penyediaan Hotel, AkomodasiAccommodation (hotel) service 51 24.274.357.513

BelumBeroperasiStandby

PT IndonesiaGemilangMahasentosa

Perdagangan, pembangunan, real estate, industri percetakan, pertanian, bengkel, dan jasa angkutanTrading, development, real estate,printing industry, agriculture, workshop and transportation service

75 1.002.497.642BelumBeroperasiStandby

PT IndonesianParadise Island

Penyediaan akomodasi (hotel) dan Perdagangan Umum Accommodation (hotel) service and General Trading

55 1.556.491.087.181 BeroperasiOperating

PT Java Paradise Island Penyedia akomodasi (hotel) Accommodation (hotel) service 27,5 86.545.916.230 Beroperasi

Operating

PT Karsa Citra Unggul Penyedia akomodasi (hotel) Accommodation (hotel) service 99,98 223.842.315.747 Beroperasi

Operating

PT Kega Property Utama

Penyedia akomodasi (hotel) Accommodation (hotel) service

92,73 melalui PT KarsaCitra Unggul92.73 through PT KarsaCitra Unggul


PT Praba Kumala Sejati Perdagangan Umum General Trading

99,90 melalui PT KarsaCitra Unggul99.90 through PT Karsa Citra Unggul


PT Segara BiruKencana

Penyedia akomodasi (hotel) Accommodation (hotel) service



PT TrimurtiTunggalSejahtera

Perdagangan, Keagenan, Perwakilan, Pembangunan, Perindustrian, Jasa,Pengangkutan, Perbengkelan, dan PercetakanTrading, Agency, Representative,Development, Industry, Service,Transportation, Workshop and Printing


349.512.371 BelumBeroperasiStandby

PT Paloma Suasa Manajemen

Perdagangan, pembangunan, real estate, industri percetakan, pertanian, bengkel, dan jasa angkutanTrading, development, real estate,printing industry, agriculture, workshop and transportation service

99,90 dan 0,10 melalui PT Retzan Indonusa dan PT Karsa Citra Unggul99.90 and 0.10 through PT Retzan Indonusa and PT Karsa Citra Unggul

100.000.000BelumBeroperasiStandby

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HA B D E F G

PT Mitra GemilangMahacipta

Perdagangan, pembangunan, perindustrian, pertanian, bengkel, dan jasa angkutanDevelopment, trading, industry, land transportation, farming, workshop and service

55 110.056.000.346 BelumBeroperasiStandby

PT Mitra Perdana Nuansa

Pembangunan, jasa dan perdaganganDevelopment service and trading

51 567.407.123.149 BeroperasiOperating

PT Plaza Indonesia Realty Tbk

Perhotelan, pusat perbelanjaan, perkantoran dan apartemenHospitality, shopping center, office and apartment

36,41 5.043.925.604.000 BeroperasiOperating

PT Pop Properti Indonesia

Perdagangan & Jasa Trading & Service 60 25.923.076.493 Beroperasi

Operating

PT Retzan Indonusa Perhotelan dan real estate Hospitality and real estate 99,9 152.093.196.087 Beroperasi

Operating

PT Rifai Maju Properti Real Estate yang Dimiliki Sendiri, AkomodasiSelf-Owned Real Estate, Accommodation

60 70.172.372.935BelumBeroperasiStandby

PT Saranausaha Jaya Perdagangan UmumGeneral Trading 55 13.621.878.383

BelumBeroperasiStandby

PT Aneka Bina Laras didirikan pada tanggal 15 Februari 2010 dengan bidang usaha pembangunan dan jasa terkait. Unit usaha PT Aneka Bina Laras adalah HARRIS Suites fX Sudirman – Jakarta yang telah beroperasi sejak bulan April 2011 dan memiliki 147 kamar. Hotel ini menyatu dengan fX Sudirman & Residences yang berlokasi di Jalan Jenderal Sudirman, Jakarta.

Struktur Permodalan dan Susunan Pemegang Saham PT Aneka Bina Laras adalah sebagai berikut:

PT Aneka Bina Laras was established on 15 February 2010, and operates in construction and related services. The business unit of PT Aneka Bina Laras is HARRIS Suites fX Sudirman – Jakarta that has been operating since April 2011 and has 147 rooms. The hotel is integrated with fX Sudirman & Residences which is located on Jalan Jenderal Sudirman, Jakarta.

The Capital Structure and Shareholder Composition of PT Aneka Bina Laras are as follows:

Alamat • Address:

P (62-21) 25554333 F (62-21) 25554321

PT ANEKA BINA LARAS

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Apartemen fX Residences, Lantai 10, Jl. Jenderal Sudirman – Pintu I Senayan, Jakarta 10270, Indonesia

63


AMBIENCE

NIENBIENM

BIENAMB NAMBAMBAMBAMBAMBAMBAMAMAMAMAMAAA


Ruang makan berkonsep family style dengan suasanya yang hangat di Sheraton Bali Kuta Resort - BaliA family style concept dining area with warm ambience in Sheraton Bali Kuta Resort - Bali


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A B D E F G H


SAHAM Shares

LEMBAR SAHAMShares

NOMINAL (Rp500/SAHAM)


%

Modal DasarAuthorized Capital 120.000.000 60.000.000.000


PT Indonesian Paradise Property Tbk 41.626.200 20.813.100.000 51,00

PT Plaza Nusantara Realti 39.993.800 19.996.900.000 49,00

Jumlah Modal Ditempatkan & Disetor Penuh Total Issued & Paid Up Capital 81.620.000 40.810.000.000 100,00

PT Padma Suasa didirikan pada 12 Agustus 2010 dengan bidang usaha penyediaan akomodasi (hotel). PT Padma Suasa mengoperasikan HARRIS Suites fX Sudirman – Jakarta sejak bulan April 2011 yang berlokasi menyatu dengan fX Sudirman & Residences di Jalan Jenderal Sudirman, Jakarta.

Struktur Permodalan dan Susunan Pemegang Saham PT Padma Suasa adalah sebagai berikut:

PT Padma Suasa was established on 12 August 2010 to provide accommodation (hotel) services. PT Padma Suasa operates HARRIS Suites fX Sudirman-Jakarta since April 2011 which is integrated with fX Sudirman & Residences on Jalan Jenderal Sudirman, Jakarta.

The Capital Structure and Shareholder Composition of PT Padma Suasa are as follows:


SAHAM Shares

LEMBAR SAHAM Shares

NOMINAL (Rp1.000/SAHAM)

Nominal Values (Rp1,000/share)

%

Modal DasarAuthorized Capital 400.000 400.000.000


PT Aneka Bina Laras 99.990 99.990.000 99,99

PT Grahatama Kreasibaru 10 10.000 0,01

Jumlah Modal Ditempatkan & Disetor Penuh Total Issued & Paid Up Capital 100.000 100.000.000 100,00

Alamat Kantor Korespondensi • Address of Correspondence Office:Centennial Tower, 30th Floor, Jl. Gatot Subroto Kav. 24 -25,Jakarta 12930, IndonesiaP (62-21) 2988 0466 F (62-21) 2988 0460

PT PADMA SUASAEntitas Anak PT Aneka Bina Laras • A Subsidiary of PT Aneka Bina Laras

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PT Anugerah Nusaraya didirikan pada tanggal 29 November 2006 dan saat ini memiliki bidang usaha penyediaan akomodasi (hotel). PT Anugerah Nusaraya memiliki lahan seluas 68.141 m² di Jalan Kyai Haji Ahmad Dahlan, Marina Waterfront, Batam, Kepulauan Riau, Indonesia. Pada lahan tersebut PT Anugerah Nusaraya memiliki hotel HARRIS Resort Waterfront – Batam, dengan kapasitas 308 kamar dan berada dalam kompleks Marina Waterfront City, Batam, serta berada di tepi pantai menghadap Selat Singapura.

Struktur Permodalan dan Susunan Pemegang Saham PT Anugerah Nusaraya adalah sebagai berikut:

PT Anugerah Nusaraya was established on 29 November 2006 and presently engages in the business of accommodation (hotel). PT Anugerah Nusaraya has a 68,141 m2 land bank on Jalan Kyai Haji Ahmad Dahlan, Marina Waterfront, Batam, Riau Islands, Indonesia. On this location, PT Anugerah Nusaraya possesses HARRIS Resort Waterfront hotel – Batam, with total rooms of 308 rooms and situated within the Marina Waterfront City complex, Batam, as well as on the shore facing the Singapore Strait.

The Capital Structure and Shareholder Composition of PT Anugerah Nusaraya are as follows:


SAHAM Shares

LEMBAR SAHAM Shares



%




PT Andalan Karya Property 24.236.729 24.236.729.000 30,00

Jeffrie Geovanie 4.039.454 4.039.454.000 5,00

Karel Patipeilohy 4.039.454 4.039.454.000 5,00


Alamat Kantor Korespondensi • Address of Correspondence Office:Centennial Tower, 30th Floor, Jl. Gatot Subroto Kav. 24 -25, Jakarta 12930, IndonesiaP (62-21) 2988 0466 F (62-21) 2988 0460

PT ANUGERAH NUSARAYA


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A B D E F G H

PT Dinamika Putra Perkasa didirikan pada 4 Januari 2006 dengan bidang usaha perdagangan umum sekaligus perusahaan investasi yang memiliki 1 (satu) entitas anak yaitu PT Magna Terra.

Struktur Permodalan dan Susunan Pemegang Saham PT Dinamika Putra Perkasa adalah sebagai berikut:

PT Dinamika Putra Perkasa was established on 4 January 2006 to conduct general trading business. PT Dinamika Putra Perkasa is an investment company that has 1 (one) subsidiary, PT Magna Terra.

The Capital Structure and Shareholder Composition of PT Dinamika Putra Perkasa are as follows:


SAHAM Shares

LEMBAR SAHAM Shares

NOMINAL (Rp1.000.000/SAHAM)

Nominal Values (Rp1,000,000/share)

%

Modal DasarAuthorized Capital 10.000 10.000.000.000


PT Indonesian Paradise Property Tbk 4.200 4.200.000.000 60,00

PT Sejahtera Karya Bersama 2.800 2.800.000.000 40,00

Jumlah Modal Ditempatkan & Disetor Penuh Total Issued & Paid Up Capital 7.000 7.000.000.000 100,00


PT DINAMIKA PUTRA PERKASA

PT Magna Terra didirikan pada 7 Juli 2006 dengan bidang usaha perdagangan umum. PT Magna Terra merupakan pemilik proyek peremajaan Pasar

PT Magna Terra was established on 7 July 2006 in the business of general trading. PT Magna Terra is the owner of Cikini Gold Center restoration project

Alamat • Address:Wisma Aldiron, Lantai Dasar, Suite 038, Jl. Gatot Subroto Kav, 72, Pancoran, Jakarta Selatan, Indonesia

PT MAGNA TERRAEntitas Anak PT Dinamika Putra Perkasa • A Subsidiary of PT Dinamika Putra Perkasa

Alamat Kantor Korespondensi • Address of Correspondence Office:Jl. Pegangsaan Timur Raya, Cikini, Menteng, Jakarta Pusat 10310, IndonesiaP (62-21) 31909088 F (62-21) 31900505

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SAHAM Shares

LEMBAR SAHAMShares



%



PT Dinamika Putra Perkasa 3.999.930 3.999.930.000 51,00

PT Arthandy Capitals 3.843.070 3.843.070.000 49,00



Perhiasan Cikini dengan luas lahan 3.679 m2, dan telah mendapatkan hak membangun dan memasarkan unit peremajaan Pasar Cikini sejak tahun 2007. Proyek peremajaan pasar perhiasan yang diberi nama Cikini Gold Center tersebut dimulai pada Juni 2011 dan sudah beroperasi diawal tahun 2013.

Struktur Permodalan dan Susunan Pemegang Saham PT Magna Terra adalah sebagai berikut:

that is developed on a 3,679 m2 of land. The Rights to restore Cikini Gold Market was obtained in 2007. The restoration project of gold market which was later named as “Cikini Gold Center” was started on June 2011, and has been operating since early 2013.

The Capital Structure and Shareholder Composition of PT Magna Terra are as follows:

PT Eka Ilalang Suryadinamika didirikan pada 27 Oktober 1995 dengan bidang usaha perhotelan, memiliki lahan seluas 18.668 m2 di Sentul, Bogor, Jawa Barat. Di atas lahan tersebut, akan dibangun hotel dan apartemen yang saat ini sedang dalam tahap perencanaan dan pengurusan perizinan pembangunan.

Struktur Permodalan dan Susunan Pemegang Saham PT Eka Ilalang Suryadinamika adalah sebagai berikut:

PT Eka Ilalang Suryadinamika was established on 27 October 1995 and operates in hospitality industry (hotel). PT Eka Ilalang Suryadinamika has a 18,668 m2 land bank in Sentul, Bogor, West Java on which a hotel and an apartment will be built. The planning of the development is still being worked on, along with the building permit.

The Capital Structure and Shareholder Composition of PT Eka Ilalang Suryadinamika are as follows:


PT EKA ILALANG SURYADINAMIKA

68


A B D E F G H


SAHAM Shares

LEMBAR SAHAMShares



%




PT Dinamika Langgeng Pratama 4.900 4.900.000.000 49,00


PT Indonesia Gemilang Mahasentosa didirikan pada 28 Juni 2016 dengan bidang usaha perdagangan, pembangunan, real estate, industri, percetakan, pertanian, perbengkelan, jasa dan angkutan.

Struktur permodalan dan Susunan Pemegang Saham PT Indonesia Gemilang Mahasentosa adalah sebagai berikut:

PT Indonesia Gemilang Mahasentosa was established on 28 June 2016 and engages in the business of trading, development, real estate, industry, printing, agriculture, workshop, service and transportation.

The Capital Structure and Shareholder Composition of PT Indonesia Gemilang Mahasentosa are as follows:


PT INDONESIA GEMILANG MAHASENTOSA


SAHAM Shares

LEMBAR SAHAMShares



%



PT Indonesian Paradise Property Tbk 75.000 75.000.000 75,00

PT Ormand Capital International 25.000 25.000.000 25,00


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PT Indonesian Paradise Island didirikan pada 22 Januari 1985. Awalnya diberi nama PT Sahid Bali Seaside Cottage yang bergerak di bidang usaha penyediaan akomodasi (hotel).

PT Indonesian Paradise Island merupakan pemilik kawasan destinasi wisata, Sahid Kuta Lifestyle Resort yang terdiri dari beachwalk Shopping Center dan Sheraton Bali Kuta Resort. Pada kawasan yang sama, Perseroan sedang melakukan pengembangan hotel bintang 4, bintang 3, dan apartemen.

Komposisi lengkap Pemegang Saham PT Indonesian Paradise Island adalah sebagai berikut:

PT Indonesian Paradise Island was established on 22 January 1985, under the name PT Sahid Bali Seaside Cottage, which engages in the provision of accommodation (hotel).

PT Indonesian Paradise Island is the owner of tourism destination area, Sahid Kuta Lifestyle Resort which consists of beachwalk Shopping Center and Sheraton Bali Kuta Resort. At present, the Company is developing 4-star and 3-star hotels as well as apartments within the same area.

The full composition of Shareholders of PT Indonesian Paradise Island is as follows:

Alamat • Address:HARRIS Hotel Tebet – Jakarta, Jl. Dr. Saharjo No. 191, Jakarta 12960, IndonesiaP (62-21) 8303355 F (62-21) 8295533

PT INDONESIAN PARADISE ISLAND


SAHAM Shares

LEMBAR SAHAM Shares



%





Kantor Korespondensi • Correspondence Office:Centennial Tower, 30th Floor, Jl. Gatot Subroto Kav. 24 -25, Jakarta 12930, IndonesiaP (62-21) 2988 0466 F (62-21) 2988 0460

Sheraton Bali Kuta Resort - Sahid Kuta Lifestyle ResortJl. Pantai Kuta, Bali, 80361, IndonesiaP (0361) 8465555 F (0361) 8465577

beachwalk Shopping Center - Sahid Kuta Lifestyle ResortJl. Pantai Kuta, Bali, 80361, IndonesiaP (0361) 8464 888 F (0361) 8465 000

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A B D E F G H

PT Empu Sahid International 66.060.000 66.060.000.000 27,00

PT Bimantara Citra 24.466.667 24.466.667.000 10,00

Hj. Yuliah Sukamdani 7.340.000 7.340.000.000 3,00

PT Indonesian Paradise Island 12.233.333 12.233.333.000 5,00


PT Java Paradise Island didirikan pada tanggal 31 Juli 1995. Tahun 2004, Perseroan berpatungan dengan beberapa strategic partners melakukan penyertaan saham pada PT Java Paradise Island guna membangun hotel berbintang empat di atas lahan seluas 5.580 m2 yaitu HARRIS Hotel Tebet – Jakarta.

HARRIS Hotel Tebet – Jakarta berlokasi dekat dengan pusat bisnis, pertokoan, dan perkantoran yaitu di Jalan Dr. Saharjo No. 191, Jakarta Selatan. HARRIS Hotel Tebet – Jakarta dikelola oleh Tauzia Hotel Management dan telah beroperasi sejak bulan September 2005. Hotel ini memiliki fasilitas seperti function hall, meeting room, business center, restaurant & bar, fitness center & spa, dan lain-lain.

Komposisi lengkap Pemegang Saham PT Java Paradise Island adalah sebagai berikut:

PT Java Paradise Island was established on 31 July 1995. In 2004, the Company, jointly with several strategic partners, invested shares in PT Java Paradise Island to develop a 4-star hotel on the 5,580 m2 land named HARRIS Hotel Tebet–Jakarta.

HARRIS Hotel Tebet–Jakarta is located on Jalan Dr. Saharjo No. 191, South Jakarta, close to business districts, shopping centers, and offices. HARRIS Hotel Tebet –Jakarta is managed by Tauzia Hotel Management and commenced is operations in September 2005. The facilities available include function hall, meeting room, business center, restaurant & bar, fitness center & spa, and others.

The full composition of Shareholders of PT Java Paradise Island is as follows

Alamat Kantor Korespondensi • Address of Correspondence Office:HARRIS Hotel Tebet – Jakarta, Jl. Dr. Saharjo No. 191, Jakarta, 12960, IndonesiaP (62-21) 8303355 F (62-21) 8295533

PT JAVA PARADISE ISLAND


SAHAM Shares

LEMBAR SAHAM Shares



%


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PT Caraka Investama 45.675.000 45.675.000.000 72,50



PT Karsa Citra Unggul didirikan pada 14 Februari 2007 dengan bidang usaha penyediaan akomodasi (hotel), memiliki lahan seluas 2.144 m2 di Manado, Sulawesi Utara yang rencananya akan dibangun apartemen. PT Karsa Citra unggul memiliki 5 (lima) entitas anak, yaitu PT Kega Property Utama, PT Praba Kumala Sajati, PT Segara Biru Kencana, PT Trimurti Tunggal Sejahtera, dan PT Paloma Suasa Manajemen.

Struktur Permodalan dan Susunan Pemegang Saham PT Karsa Citra unggul adalah sebagai berikut:

PT Karsa Citra Unggul was established on 14 February 2007, and operates to provide accommodation (hotel) service. PT Karsa Citra Unggul owns a 2,144 m2 land in Manado, North Sulawesi, on which an apartment will be built. PT Karsa Citra Unggul has 5 (five) subsidiaries, namely PT Kega Property Utama, PT Praba Kumala Sajati, PT Segara Biru Kencana, PT Trimurti Tunggal Sejahtera, and PT Paloma Suasa Manajemen.

The Capital Structure and Shareholder Composition of PT Karsa Citra Unggul are as follows:


PT KARSA CITRA UNGGUL


SAHAM Shares

LEMBAR SAHAM Shares



%




Yayasan Bunga Kasih 5.000 5.000.000 0,02



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A B D E F G H

PT Kega Property Utama didirikan pada tanggal 1 Juli 2008 dengan bidang usaha penyediaan akomodasi (hotel). PT Kega Property Utama memiliki perjanjian kerja sama dengan Induk Koperasi TNI Angkatan Udara (Inkopau-Pukadara) terkait pemanfaatan tanah TNI AU eks Mess Jetis seluas 3.094 m2 di Yogyakarta, selanjutnya lahan tersebut dibangun POP! Hotel Sangaji – Yogyakarta yang resmi beroperasi sejak tanggal 1 Juli 2012. POP! Hotel Sangaji – Yogyakarta mengusung konsep minimalis ‘A place to stay for smart and eco friendly travelers’, dikelola oleh Tauzia Hotel Management dan merupakan hotel bintang dua yang memiliki 151 kamar, berlokasi di pusat kota Yogyakarta.

Struktur Permodalan dan Susunan Pemegang Saham PT Kega Property Utama adalah sebagai berikut:

PT Kega Property Utama was established on 1 July 2008, and operates to provide accommodation (hotel) service. PT Kega Property Utama has an Agreement with Parent Cooperative of Indonesian Air Force (Inkopau-Pukadara) to make use 3,094 m2 land in Yogyakarta, on which POP! Hotel Sangaji –Yogyakarta has been developed and commercially opened on 1 July 2012. POP! Hotel Sangaji – Yogyakarta brings up the minimalist style with the tagline ‘A place to stay for smart and eco-friendly travelers’. It is a 2-star hotel with 151 rooms managed by Tauzia Hotel Management and located at the heart of Yogyakarta.

The Capital Structure and Shareholder Composition of PT Kega Property Utama are as follows:


SAHAM Shares

LEMBAR SAHAM Shares



%



PT Karsa Citra Unggul 10.200.000 10.200.000.000 92,73

PT Kega Purna Bakti 450.000 450.000.000 4,09

Hermandos Tampubolon 250.000 250.000.000 2,26

Seno Hadi Utomo 50.000 50.000.000 0,46

Harry Rahayu Gamdani 50.000 50.000.000 0,46



PT KEGA PROPERTY UTAMAEntitas Anak PT Karsa Citra Unggul • A Subsidiary of PT Karsa Citra Unggul

POP! hotel Sangaji – YogyakartaJl.AM. Sangaji Kav. 16-18, Jetis, Yogyakarta, 55000, IndonesiaP (0274) 4469399 F (0274) 4469398

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PT Praba Kumala Sajati didirikan pada 28 Februari 2012 dengan bidang usaha perdagangan umum. PT Praba Kumala Sajati memiliki Park23 Entertainment Center Bali yang telah beroperasi sejak September 2015.

Struktur Permodalan dan Susunan Pemegang Saham PT Praba Kumala Sajati adalah sebagai berikut:

PT Praba Kumala Sajati was established on 28 February 2012, and operates in general trading. PT Praba Kumala Sajati owns Park23 Entertainment Center Bali, which has been operating since September 2015.

The Capital Structure and Shareholder Composition of PT Praba Kumala Sajati are as follows:


PT PRABA KUMALA SAJATI


SAHAM Shares

LEMBAR SAHAM Shares



%



PT Karsa Citra Unggul 74.925 7.492.500.000 99,90

Galuh Niken PS 75 7.500.000 0,10


Entitas Anak PT Karsa Citra Unggul • A Subsidiary of PT Karsa Citra Unggul


PT SEGARA BIRU KENCANAEntitas Anak PT Karsa Citra Unggul • A Subsidiary of PT Karsa Citra Unggul

PT Segara Biru Kencana didirikan pada tanggal 18 Oktober 2010 dengan bidang usaha penyediaan akomodasi (hotel). PT Segara Biru Kencana telah membangun Maison Aurelia, yaitu sebuah hotel di atas lahan seluas 2.696 m2 di Sanur, Bali. Maison Aurelia – Sanur telah beroperasi sejak September 2016.

PT Segara Biru Kencana was established on 18 October 2010, and engaged in the provision of accommodation (hotel) service. PT Segara Biru Kencana has developed a hotel on a 2,696 m2 of land in Sanur, Bali. Maison Aurelia – Sanur has been operating since September 2016.

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A B D E F G H


SAHAM Shares

LEMBAR SAHAM Shares



%



PT Karsa Citra Unggul 99.900 99.900.000 99,90

PT Grahatama Kreasibaru 100 100.000 0,10


Struktur Permodalan dan Susunan Pemegang Saham PT Segara Biru Kencana adalah sebagai berikut:

The Capital Structure and Shareholder Composition of PT Segara Biru Kencana are as follows:

PT Trimurti Tunggal Sejahtera didirikan pada 27 November 2015 dengan bidang-bidang usaha umum yaitu perdagangan, keagenan, perwakilan, pembangunan, perindustrian, jasa, pengangkutan, perbengkelan dan percetakan. Perseroan memiliki PT Trimurti Tunggal Sejahtera melalui kepemilikan dalam PT Karsa Citra Unggul. Saat ini, PT Trimurti Tunggal Sejahtera belum beroperasi.

Struktur Permodalan dan Susunan Pemegang Saham PT Trimurti Tunggal Sejahtera adalah sebagai berikut:

PT Trimurti Tunggal Sejahtera was established on 27 November 2015 and engages in the general line of businesses of trade, agency, representative, construction, industry, service, transportation, workshop and printing. The Company acquires PT Trimurti Tunggal Sejahtera through ownership in PT Karsa Citra Unggul. Currently, PT Trimurti Tunggal Sejahtera is on standby status.

The Capital Structure and Shareholder Composition of PT Trimurti Tunggal Sejahtera are as follows:


PT TRIMURTI TUNGGAL SEJAHTERAEntitas Anak PT Karsa Citra Unggul • A Subsidiary of PT Karsa Citra Unggul

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SAHAM Shares

LEMBAR SAHAM Shares


Nominal Values (Rp1,000 share)

%



PT Karsa Citra Unggul 375.000 375.000.000 75,00

Putu Pasek Sandoz 100.000 100.000.000 20,00

I Gusti Oka Suryawan 25.000 25.000.000 5,00



PT PALOMA SUASA MANAJEMEN

PT Paloma Suasa Manajemen didirikan pada tanggal 28 Juni 2016, dengan fokus pada bidang usaha perdagangan, pembangunan, real estate, industri, percetakan, pertanian, perbengkelan, jasa dan angkutan.

Struktur Permodalan dan susunan pemegang saham PT Paloma Suasa Manajemen adalah sebagai berikut:

PT Paloma Suasa Manajemen was established on 28 June 2016 and focuses on the business of trading, development, real estate, industry, printing, agriculture, workshop, service and transportation.

The Capital Structure and Shareholder Composition of PT Paloma Suasa Manajemen are as follows



SAHAM Shares

LEMBAR SAHAM Shares



%



PT Retzan Indonusa 99.900 99.900.000 99,90

PT Karsa Citra Unggul 100 100.000 0,10


76


A B D E F G H

PT Mitra Gemilang Mahacipta didirikan pada 8 Mei 2012 dengan bidang-bidang usaha umum yaitu pembangunan, perdagangan, perindustrian, pengangkutan darat, pertanian, perbengkelan dan jasa. PT Mitra Gemilang Mahacipta memiliki lahan seluas 84.000 m² di Jalan Manuntung, Kelurahan Sepinggan, Kecamatan Balikpapan Selatan, Provinsi Kalimantan Timur. Di atas lahan tersebut PT Mitra Gemilang Mahacipta berencana membangun proyek Central Business District (CBD) Balikpapan yang terdiri dari pusat perbelanjaan, perkantoran, kondominium, ruko, hotel dan sekolah. Saat ini, PT Mitra Gemilang Mahacipta sedang berada dalam tahap perencanaan dan pengurusan perizinan pembangunan tersebut.

Struktur Permodalan dan Susunan Pemegang Saham PT Mitra Gemilang Mahacipta adalah sebagai berikut:

PT Mitra Gemilang Mahacipta was established on 8 May 2012 and engages in general line of businesses of construction, trade, industrial, land transportation, farming, workshop and service. PT Mitra Gemilang Mahacipta has a land bank in the area of 84.000 m² in Jalan Manuntung, Kelurahan Sepinggan, Kecamatan Balikpapan Selatan, East Kalimantan Province. On the location, PT Mitra Gemilang Mahacipta plans to build a project of Central Business District (CBD) of Balikpapan consisting of shopping center office, condominium, shop-office, hotel and school. Currently, PT Mitra Gemilang Mahacipta is in the process of planning and permits processing for the development.

The Capital Structure and Shareholder Composition of PT Mitra Gemilang Mahacipta are as follows:


PT MITRA GEMILANG MAHACIPTA


SAHAM Shares

LEMBAR SAHAM Shares



%




Suyanto Chandra 4.040 4.040.000.000 16,00

PT Gama Narayana Sakti 7.322 7.322.000.000 29,00


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PT Plaza Indonesia Realty Tbk didirikan pada 5 November 1983 dengan nama PT Bimantara Eka Santosa dan berubah menjadi nama yang sekarang pada tanggal 31 Mei 1991. PT Plaza Indonesia Realty

PT Plaza Indonesia Realty Tbk was established on5 November 1983 with the name of PT Bimantara Eka Santosa and changed to its current name on 31 May 1991. PT Plaza Indonesia Realty Tbk listed

Alamat • Address:The Plaza Office Tower, 10th Floor, Jl. M.H. Thamrin Kav. 28-30, Jakarta 10350P (62-21) 2992 0000 F (62-21) 2992 1111

PT PLAZA INDONESIA REALTY Tbk

PT Mitra Perdana Nuansa didirikan pada 31 Mei 2006 dengan bidang usaha pembangunan, jasa dan perdagangan. PT Mitra Perdana Nuansa memiliki lahan kerja sama seluas 30.000 m² di Ciroyom dan Kebon Jeruk, Kota Bandung, Jawa Barat. PT Mitra Perdana Nuansa memiliki 23 Paskal Shopping Center yang telah dibuka dan beroperasi sejak April 2017.

Struktur Permodalan dan Susunan Pemegang Saham PT Mitra Perdana Nuansa adalah sebagai berikut:

PT Mitra Perdana Nuansa was established on 31 May 2006 and engages in the businesses of construction, service and trade. PT Mitra Perdana Nuansa has a 30.000 m² cooperation land bank in Ciroyom and Kebon Jeruk areas of Kota Bandung, West Java. On the location, PT Mitra Perdana Nuansa owns 23 Paskal Shopping Center that has been opened and operating since April 2017.

The Capital Structure and Shareholder Composition of PT Mitra Perdana Nuansa are as follows:


PT MITRA PERDANA NUANSA


SAHAM Shares

LEMBAR SAHAM Shares



%




PT Ekanusa Sandhitama Persada 30.567.597 30.567.597.000 49,00


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A B D E F G H

Tbk melakukan pencatatan saham pada Bursa Efek Jakarta dan Bursa Efek Surabaya (sekarang Bursa Efek Indonesia) sejak 15 Juni 1992. PT Plaza Indonesia Realty Tbk memiliki bidang-bidang usaha terutama meliputi bidang perhotelan, pusat perbelanjaan, perkantoran dan apartemen.

PT Plaza Indonesia Realty Tbk adalah pemilik hotel Grand Hyatt Jakarta (hotel), Plaza Indonesia Shopping Center, The Plaza (gedung perkantoran) dan Keraton at The Plaza (Keraton Luxury Collection hotel dan Keraton Private Residence) dan secara tidak langsung memiliki fX Sudirman (lifestyle center).

Struktur Permodalan dan Susunan Pemegang Saham PT Plaza Indonesia Realty Tbk adalah sebagai berikut:

its shares on the Jakarta Stock Exchange and Surabaya Stock Exchange (now Indonesia Stock Exchange) on 15 June 1992. PT Plaza Indonesia Realty Tbk primarily engages in the businesses of hospitality, shopping centre, office and apartment.

PT Plaza Indonesia Realty Tbk is the owner of Grand Hyatt Jakarta (Hotel), Plaza Indonesia Shopping Center, The Plaza (office building) and Keraton at The Plaza (Keraton Luxury Collection Hotel and Keraton Private Residence) as well as the indirect owner of fX Sudirman (lifestyle center).

The Capital Structure and Shareholder Composition of PT Plaza Indonesia Realty Tbk are as follows:


SAHAM Shares

LEMBAR SAHAM Shares

NOMINAL (Rp200/SAHAM)


%

Modal DasarAuthorized Capital 5.000.000.000 1.000.000.000.000


PT Bumi Serpong Damai Tbk 1,421,195,766 284,239,153,200 40.03%

PT Indonesian Paradise Property Tbk 1,292,525,034 258,505,006,800 36.41%

Rosano Barack 173,783,000 34,756,600,000 4.90%

Masyarakat / Public 150,296,200 30,059,240,000 4.23%

Jumlah Saham BeredarTotal Outstanding Shares 3,037,800,000 607,560,000,000 85.57%

Saham TreasuriTreasury Stock 512,200,000 102,440,000,000 14.43%

Jumlah Modal Ditempatkan & Disetor Penuh Total Issued & Paid Up Capital 3.550.000.000 710.000.000.000 100,00

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PT Retzan Indonusa didirikan pada tanggal 18 Juli 1988 dengan bidang usaha perhotelan dan resor, termasuk dengan segala sarana dan prasarananya. PT Retzan Indonusa memiliki lahan seluas 9.221 m2 di Batam Center, Batam. Lahan tersebut selanjutnya digunakan untuk pembangunan HARRIS Hotel Batam Center – Batam yang terdiri atas 171 kamar dengan sejumlah fasilitas hotel berbintang empat.

PT Retzan Indonusa was established on 18 July 1988, and engages in the businesses of hospitality and resort with its facilities and infrastructure. PT Retzan Indonusa has a 9,221 m2 land in Batam which is used for the construction of HARRIS Hotel Batam Center – Batam, consisting of 171 rooms and 4-star hotel facilities. This hotel has been operating since November 2011. At present, PT Retzan Indonusa is

Alamat • Address:Jl. Engku Putri, Batam Center, Batam 29641, IndonesiaP (62-778) 749 8991 F (62-778) 749 8890

PT RETZAN INDONUSAHARRIS Hotel Batam CenterJl. Engku Putri, Batam Center, Batam 29641, IndonesiaP (62-778) 749 8888 F (62-778) 749 9999


SAHAM Shares

LEMBAR SAHAM Shares



%



PT Indonesian Paradise Property Tbk 600.000 600.000.000 60,00

Amelia Gozali 400.000 400.000.000 40,00


PT Pop Properti Indonesia didirikan pada tanggal 28 Juni 2016, dengan fokus pada bidang usaha perdagangan, pembangunan, real estat, jasa.

Struktur Permodalan dan susunan pemegang saham PT Pop Properti Indonesia adalah sebagai berikut:

PT Pop Properti Indonesia was established on 28 June 2016, and carries out business in the field of trading, development, real estate. And service.

The Capital Structure and Shareholder Composition of PT Pop Properti Indonesia are as follows:

PT POP PROPERTI INDONESIAAlamat Kantor Korespondensi • Address of Correspondence Office: Centennial Tower, 30th Floor, Jl. Gatot Subroto Kav. 24 -25 Jakarta 12930, IndonesiaP (62-21) 2988 0466 F (62-21) 2988 0460

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A B D E F G H


SAHAM Shares

LEMBAR SAHAMShares



%




PT Grahatama Kreasibaru 30 30.000.000 0,10


PT Rifai Maju Properti didirikan pada tanggal 14 Maret 2016 dengan bidang usaha perdagangan umum, real estat yang dimiliki sendiri atau disewa.

PT Rifai Maju Properti memiliki lahan seluas 3.752 m² di Jalan Jenderal Sudirman No.31, Mangkura, Ujung Pandang, Sulawesi Selatan, Indonesia. Pada lahan tersebut akan dibangun Hotel dan Apartemen.

Struktur Permodalan dan Susunan Pemegang Saham PT Rifai Maju Properti adalah sebagai berikut:

PT Rifai Maju Properti was established on 14 March 2016, and operates in the field of general trading and self-owned or leased real estate.

This company owns land with total area of 3,752 m2 at Jalan Jenderal Sudirman No. 31, Mangkura, Ujung Pandang, South Sulawesi, Indonesia, which is ready for the development of Hotel and Apartment.

The Capital Structure and Shareholder Composition of PT Rifai Maju Properti are as follows:

PT RIFAI MAJU PROPERTIAlamat Kantor Korespondensi • Address of Correspondence Office: Centennial Tower, 30th Floor Jl. Gatot Subroto Kav. 24 -25 Jakarta 12930, IndonesiaP (62-21) 2988 0466 F (62-21) 2988 0460

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Hotel ini telah beroperasi sejak bulan November 2011. Selain itu, PT Retzan Indonusa sedang membangun apartemen eksklusif di kawasan yang sama dengah HARRIS Hotel Batam Center dengan rencana selesai dibangun pada tahun 2019.

Struktur Permodalan dan Susunan Pemegang Saham PT Retzan Indonusa adalah sebagai berikut:

developing an exclusive apartment within the same area as HARRIS Hotel Batam Center. The apartment is planned to be completed in 2019

The Capital Structure and Shareholder Composition of PT Retzan Indonusa are as follows:

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PT Saranausaha Jaya didirikan pada tanggal 13 Agustus 1992 dengan bidang usaha perdagangan umum. PT Saranausaha Jaya berencana menangani peremajaan Pasar Obat dan Burung Pramuka, Jakarta, yang saat ini sedang dalam tahap perencanaan dan pengurusan perizinan.

PT Saranausaha Jaya was established on 13 August 1992, and operates in general trading business. PT Saranausaha Jaya plans to manage the restoration of Pasar Obat dan Burung Pramuka, Jakarta, which is currently in the stage of planning and permit acquisition.

Alamat Kantor Korespondensi • Address of Correspondence Office:Jl. H. Agus Salim No, 132, Menteng, Jakarta Pusat, 10310, Indonesia

PT SARANAUSAHA JAYA


SAHAM Shares

LEMBAR SAHAMShares



%




Ir. Andi Siswaka Faisal, MSc. 1.050 1.050.000.000 20,00

Ny. A. Khadijah Fira Jen Rifai 210 210.000.000 4,00

A.M. Ibrahim Rifwan Jen Rifai 210 210.000.000 4,00

A.M. Ismail Risalia Jen Rifai 210 210.000.000 4,00

A. Fatimah Nur Huda Sari Mahardika Jen Rifai 210 210.000.000 4,00

Andi Annisa Dalaulang Ramadhani J. Rifai 210 210.000.000 4,00



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A B D E F G H

POP Hotel Sangaji Yogyakarta

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SAHAM Shares

LEMBAR SAHAM Shares



%




PT Sejahtera Karya Bersama 6.750.000 6.750.000.000 45,00


Struktur Permodalan dan Susunan Pemegang Saham PT Saranausaha Jaya adalah sebagai berikut:

The Capital Structure and Shareholder Composition of PT Saranausaha Jaya are as follows:

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PT INDONESIANPARADISE PROPERTY Tbk

HARRIS Hotel Tuban - Bali

STRUKTURGRUPGroup Structure

*) Per 31 Desember 2018 As of 31 December 2018


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A B D E F G H

PT Pop Properti IndonesiaCorner Stone

60%

PT Retzan IndonusaHARRIS Hotel Batam Center - Batam

99,90%

55% PT Saranausaha Jaya

PT Anugerah NusarayaHARRIS Resort Waterfront - Batam

60%

PT Dinamika Putra Perkasa60%

PT Eka Ilalang Suryadinamika51%

PT Indonesia GemilangMahasentosa95%

PT Indonesian Paradise IslandHARRIS Resort Kuta Beach Bali

beahwalk Shopping Center – BaliSheraton Bali Kuta Resort

55%

55%

PT Mitra Perdana Nuansa23 Paskal Shopping Center - Bandung

51%

PT Rifai Maju PropertiMakassar

60%

PT Java Paradise IslandHARRIS Hotel Tebet - Jakarta27,50%

PT Karsa Citra Unggul99,98%

PT Mitra Gemilang Mahacipta

PT Aneka Bina LarasHARRIS Suites fX Sudirman - Jakarta

51% PT Padma SuasaHARRIS Suites Fx Sudirman - Jakarta

99,99%

PT Magna TerraCikini Gold Center - Jakarta

51%

PT Segara Biru KencanaHotel Maison Aurelia

- Bali99,90%

PT Praba Kumala SajatiPark23 Entertainment

Center - Bali99,90%

PT Kega Property UtamaPOP! Hotel Sangaji -

Yogyakarta92,73%

PT Trimurti Tunggsl Sejahtera 75,00%

PT Paloma SuasaManajemen

0,10%

99,90%

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PT Plaza Indonesia Realty TbkPlaza Indonesia Shopping Center –

JakartaGrand Hyatt – JakartafX Sudirman – Jakarta

Keraton at The Plaza (Keraton Luxury Collection Hotel & Keraton Private

Residence)The Plaza Office Tower - Jakarta

36,41%

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KRONOLOGI PENCATATAN SAHAMShare Listing Chronology

Pada tanggal 1 Desember 2004, Perseroan pertama kali mencatatkan sahamnya di Bursa Efek Surabaya sejumlah 240 juta lembar dengan jumlah nilai nominal Rp24.000.000.000. Sesuai dengan keterbukaan informasi yang telah disampaikan Perseroan dalam Pernyataan Pendaftaran Perusahaan Publik yang telah disetujui oleh Badan Pengawas Pasar Modal (BAPEPAM).

- Selanjutnya obligasi Perseroan dikonversikan menjadi saham Perseroan oleh Premiere Estates Limited sebanyak 330 juta lembar dengan nilai nominal Rp33.000.000.000. Konversi ini resmi dicatatkan di Bursa Efek Surabaya pada tanggal 17 Desember 2004.

- Perseroan melakukan transaksi tukar-menukar saham (share swap) dengan Anemone Continental S.A. sebanyak 949 juta lembar dengan nilai nominal Rp94.900.000.000. Transaksi ini resmi tercatat di Bursa Efek Surabaya pada tanggal 27 Desember 2004.

Sehingga, total jumlah saham Perseroan meningkat menjadi 1.519.000.000 lembar dengan nilai nominal Rp151.900.000.000. Perseroan melakukan Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu dengan menerbitkan saham baru sejumlah 75 juta lembar dengan nilai nominal Rp7.500.000.000. Langkah ini resmi tercatat di Bursa Efek Surabaya pada tanggal 14 Juli 2005. Dengan demikian, total jumlah saham Perseroan meningkat menjadi 1.594.000.000 lembar dengan nilai nominal Rp159.400.000.000.

Sehubungan dengan proses merger antara Bursa Efek Jakarta dengan Bursa Efek Surabaya yang kemudian membentuk Bursa Efek Indonesia, perdagangan saham Perseroan dihentikan sementara sejak tanggal 1 Desember 2007.

On 1 December 2004, the Company first listed its shares of 240 million shares on Surabaya Stock Exchange with nominal value of Rp24,000,000,000. In accordance with information disclosure submitted by the Company in Registration Statement of Public Company, approved by Capital Market Supervisory Board (BAPEPAM).

- The Company’s Bonds were converted into Company shares by Premiere Estates Limited of 330 million shares with nominal value of Rp33,000,000,000. This conversion was officially listed on Surabaya Stock Exchange on

17 December 2004.

- The Company conducted share swap with Anemone Continental S.A of 949 million shares with nominal value of Rp94,900,000,000. This transaction was officially listed on Surabaya Stock Exchange on 27 December 2004.

The Company’s total shares increased to 1,519,000,000 shares with nominal value of Rp151,900,000,000. The Company conducted Capital Addition Without Pre-Emptive Rights by issuing 75 million new shares with nominal value of Rp7,500,000,000. This action was listed on Surabaya Stock Exchange on 14 July 2015. Therefore, the Company’s total shares increased to 1,594,000,000 shares with nominal value of Rp159,400,000,000.

On the merger between Jakarta Stock Exchange with Surabaya Stock Exchange into Indonesia Stock Exchange, the Company temporarily suspended its share trading activity since 1 December 2007.

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H

Pemberhentian perdagangan sementara ini dilakukan dengan pertimbangan saham Perseroan tidak aktif diperdagangkan dan jumlah Pemegang Saham Publik Perseroan masih di bawah jumlah minimal yang disyaratkan Bursa Efek Indonesia.

Agar perdagangan bisa dibuka kembali, pada tahun 2009, PT Grahatama Kreasibaru, sebagai Pemegang Saham Pengendali Perseroan, melaksanakan Penawaran Umum Atas Kepemilikan Saham PT Grahatama Kreasibaru pada Perseroan. Penawaran umum Perdana Saham ini mencakup sejumlah 180.000.000 (seratus delapan puluh juta) Saham Biasa Atas Nama yang merupakan saham lama dengan nilai nominal Rp100 (seratus Rupiah) per saham. Harga yang ditawarkan ke masyarakat adalah Rp115 (seratus lima belas Rupiah) setiap saham.

Adapun hasil Penawaran Umum Saham yang dilaksanakan pada 19–21 Oktober 2009 adalah sebagai berikut:

The temporary trade suspension was conducted in consideration of the Company’s inactive traded shares and the number of Public Shareholders, which was below the minimum requirements of Indonesia Stock Exchange.

In order to reopen the trade, in 2009, PT Grahatama Kreasibaru, as Controlling Shareholder of the Company, conducted Right Issue for Shares Ownership of PT Grahatama Kreasibaru to the Company. The Initial Right Issue consisted of 180,000,000 (one hundred eighty million) Registered Shares, which was considered as old share with nominal value of Rp100 (one hundred Rupiah) per share. The price offered to the public was Rp115 (one hundred fifteen Rupiah) per share.

The Proceeds of Right Issue on 19-21 October 2009 was as follows:


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Dengan dilaksanakannya Penawaran umum Saham tersebut, Perseroan telah mampu meningkatkan kepemilikan saham guna memenuhi ketentuan persyaratan jumlah saham yang dimiliki oleh Pemegang Saham Minoritas. Sehingga, berdasarkan surat No. S-05577/BEI.PSJ/10-2009 tanggal 29 Oktober 2009, Bursa Efek Indonesia telah mencabut penghentian sementara (suspensi) perdagangan Efek Perseroan.

Pada tahun 2010, Perseroan melakukan pengembangan usaha dengan melaksanakan penggabungan usaha (Merger) dengan PT Tirta Saga Wangi yang masih merupakan perusahaan afiliasi Perseroan. PT Tirta Saga Wangi meleburkan diri ke dalam Perseroan, sehingga semua perusahaan anak dan perusahaan asosiasiPT Tirta Saga Wangi menjadi perusahaan anak dan perusahaan asosiasi Perseroan. Usai proses penggabungan usaha dilakukan, PT Tirta Saga Wangi bubar demi hukum tanpa harus didahului proses likuidasi.

Atas Pernyataan Pendaftaran untuk Penggabungan Usaha tersebut, telah diperoleh pernyataan efektif dari Badan Pengawas Pasar Modal dan Lembaga Keuangan berdasarkan Surat Ketua Bapepam dan LK No. S-4500/BL/2010 tanggal 20 Mei 2010 Perihal Pemberitahuan Efektifnya Pernyataan Penggabungan Usaha.

Penggabungan usaha tersebut juga telah mendapat persetujuan dari Rapat Umum Pemegang Saham Luar Biasa Perseroan pada25 Mei 2010. Pelaksanaannya dilakukan pada 1 Juni 2010. Dalam penggabungan usaha tersebut, setiap 1 (satu) saham PT Tirta Saga Wangi ditukar dengan 4,7 saham Perseroan.

Berikut adalah tabel susunan Pemegang Saham Perseroan sebelum dan setelah Penggabungan Usaha pada tanggal 1 Juni 2010:

With the execution of Right Issue, the Company successfully increased its shares ownership to meet the required total shares owned by Minority Shareholders. Pursuant to letter No.S-05577/BEI.PSJ/10-2009 on 29 October 2009, Indonesia Stock Exchange revoked the suspension of the Company’s Securities trade.

In 2010, the Company developed its business through Merger with PT Tirta Saga Wangi, which was an affiliated company. PT Tirta Saga Wangi merged with the Company, thus making all subsidiaries and associated companies ofPT Tirta Saga Wangi as the Company’s subsidiaries and associated companies. Following the merger, PT Tirta Saga Wangi was dissolved by law without liquidation process.

Based on the Registration Statement for Business Merger above, the Company received effective statement from Capital Market Supervisory Board and Financial Institution based on Letter from Chairman of Bapepam-LK No. S-4500/BL/2010 on 20 May 2010 on the Effective Statement of Business Merger.

The merger had been approved by the Extraordinary General Meeting of Shareholders on 25 May 2010 and conducted on 1 June 2010. In the merger, each 1 (one) share of PT Tirta Saga Wangi was exchanged with 4.7 shares of the Company.

The following is the table of the Company’s Shareholders composition before and after Business Merger on 1 June 2010:

KETERANGANDescription

JUMLAH PEMESANAN

Total Subscriber


JUMLAH UANG PEMESANAN (RP)Amount of Subscription (Rp) %

Total PenawaranTotal Offering - 180.000.000 20.700.000.000 100

Total PemesananTotal Subscription 534 179.639.000 20.658.485.000 99,80

Sisa PenawaranUnsubscribed Shares - 361.000 41.515.000 0,20

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A B D E F G H


SEBELUM KONVERSIBefore Merger

SETELAH KONVERSIAfter Merger

PERSEROANThe Company

PT TIRTA SAGA WANGI PERSEROANThe Company

JUMLAH SAHAMTotal Shares % JUMLAH SAHAM

Total Shares % JUMLAH SAHAMTotal Shares %

Modal DasarAuthorized Capital 5.000.000.000 100,00 250.000.000 100,00 5.000.000.000 100,00

MODAL DITEMPATKAN DAN DISETOR PENUHIssued and Paid Up Capital

Anemone Continental SA 949.000.000 59,54 - - 949.000.000 39,3645

PT Grahatama Kreasibaru 129.861.000 8,15 173.785.500 99,999 946.652.850 39,2671

CB London S/A BSI SA 223.000.000 13,99 - - 223.000.000 9,2500

MasyarakatPublic 242.139.000 15,19 - - 292.139.000 12,1179

Yayasan Bunga Kasih 50.000.000 3,13 2.500 0,001 11.750 0,0005

Total Modal Ditempatkan dan Disetor Penuh Total Issued and Paid Up Capital

1 .594.000.000 100,00 173.788.000 100,00 2.410.803.600 100,00

Pada 2012, Perseroan melaksanakan Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu dengan mengikuti ketentuan Peraturan Bapepam dan LK Nomor IX.D.4 tentang Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu, Lampiran Keputusan Ketua Bapepam dan LK Nomor Kep-429/BL/2009 tanggal 9 Desember 2009 dan Peraturan Bursa Efek Indonesia Nomor I-A tentang Pencatatan Saham dan Efek Bersifat Ekuitas Selain Saham yang diterbitkan oleh Perusahaan Tercatat.

Penambahan Modal Tanpa hak Memesan Efek Terlebih Dahulu Perseroan berupa penerbitan sebanyak-banyaknya 241.080.360 (dua ratus empat puluh satu juta delapan puluh ribu tiga ratus enam puluh) saham biasa pada harga pelaksanaan sebesar Rp350 (tiga ratus lima puluh Rupiah) per saham. Pelaksanaannya dilakukan secara bertahap, disesuaikan dengan kebutuhan dari waktu ke waktu dalam jangka waktu 2 (dua) tahun dan telah mendapat persetujuan dalam Rapat Umum Pemegang Saham Luar Biasa pada 19 Juni 2012.

Pada tahun 2014, Perseroan telah melaksanakan 3 (tiga) tahap Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu:

In 2012, the Company conducted Capital Increase Without Pre-Emptive Rights in conjunction to the Regulation of Capital Market Supervisory Board and Financial Institution (Badan Pengawas Pasar Modal/Bapepam and LK) No. IX D.4 on Capital Increase Without Pre-Emptive Rights, Appendix of Decree of Bapepam and LK Chairman Decision No. Kep.429/BL/2009 dated 9 December 2009 and Indonesia Stock Exchange Regulation Number I-A on Shares Listing and Non Shares Equity type of Marketable Securities issued by the Listed Company.

The Company’s Capital Increase Without Pre- Emptive Rights was conducted through the issuance of 241,080,360 (two hundreds forty one million eighty thousands three hundred and sixty) shares with execution price of Rp350 (three hundred and fifty Rupiah) per share. Capital Increase Without Pre-Emptive Rights was conducted in stages, adjusted with demands from time to time within the period of 2 (two) years and had been approved in the Extraordinary General Meeting of Shareholders on 19 June 2012.

In 2014, the Company conducted 3 (three) stages of Capital Increase Without Pre-Emptive Rights:- Stage-1 was conducted on 24 July 2012

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- Tahap-1 dilakukan pada 24 Juli 2012 dan telah mendapat surat Persetujuan Pencatatan Efek dari PT Bursa Efek Indonesia

Nomor: S-04996/BEI.PPJ/07-2012 tanggal 12 Juli 2012. Pengambil saham Tahap 1 ini adalah PT Saka Guna Lestari. Hasil Pelaksanaan Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Perseroan Tahap-1 adalah sebagai berikut:

that has received the approval letter of Share Listings from Indonesian Stock Exchange No. S-04996/BEI.PPJ/07-2012

dated 12 July 2012, where the party exercising the shares was PT Saka Guna Lestari. The result of the Company Capital Increase Without Pre-Emptive Rights Stage-1 was as follows:

71.000.000 Jumlah saham baru yang diterbitkan Tahap-1The amount of new shares issued on Stage-1

lembar saham shares

Harga Nominal per sahamNominal Value per share

Harga Pelaksanaan per sahamExecution Price per share

Rp100,-

Rp350,-Nama Pemegang Saham •Name of Shareholder PT SAKA GUNA LESTARI

Jumlah Saham Biasa PT Indonesian Paradise Property Tbk sebelum Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Tahap-1Number of Common Shares of PT Indonesian Paradise Property Tbk before Capital Increase Without Pre-Emptive Rights Stage-1

2.410.803.600

Jumlah Saham Biasa PT Indonesian ParadiseProperty Tbk setelah Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Tahap-1Number of Common Shares of PT IndonesianParadise Property Tbk after Capital Increase Without Pre-Emptive Rights Stage-1

2.481.803.600

- Tahap-2 dilakukan pada 19 April 2013 dan telah mendapat surat Persetujuan Pencatatan Efek dari PT Bursa Efek Indonesia

Nomor: S-0810/BEI.PPJ/04-2013 tanggal 9 April 2013. Pengambil saham Tahap-2 adalah PT Saka Guna Lestari. Hasil Pelaksanaan Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Perseroan Tahap-2 adalah sebagai berikut:

- Stage-2 was conducted on 19 April 2013 and has received the approval letter of Shares Listing from PT Bursa Efek Indonesia

No. S-0810/BEI.PPJ/04-2013 dated 9 April 2013, where the party excercising the shares was PT Saka Guna Lestari. The result of the Company Capital Increase Without Pre-Emptive Rights Stage-2 was as follows:


lembar saham shares



Rp100,-



2.481.803.600


2.518.803.600

thoufo

hout fol

out folloollowlows:


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A B D E F G H

AUTHENTICAUAUAUAU AUTH THETHETHENTHENTHENENNNNNNNNN


Dengan gaya yang khas ke dalam ruangan, masakan dan tradisi dunia, serta budaya lokal, The Lounge mengajak para tamu untuk menikmati makanan dengan cara yang berbeda.By bringing authentic concept of dining, worlwide cuisine and tradition, as well as local culture, The Lounge invites guests to dine in a unique and different way.

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As the shares subscriber in all stages of the Company Capital Increase Without Pre-Emptive Rights, PT Saka Guna Lestari is not associated with the Company and is neither the major shareholders nor affiliated with members of Board of Directors, Board of Commissioners and the Company’s Major Shareholders. Therefore, the new shares subscription transaction by PT Saka Guna Lestari is not considered as the affiliated transactions as well as a conflict of interest as referred in the Bapepam and LK Regulation No. IX.E.1 Appendix of Chairman Bapepam and LK’s Decision No. Kep-412/BL/2009 dated 25 November 2009 regarding Affiliated Transaction and Conflict of Interest on Certain Transaction.

In 2015, the Company conducted Right Issue I with Pre-Emptive Rights to the Shareholders, and had received effective statement from Financial Services Authority pursuant to OJK letter No. S-253/D.04/2015 dated 12 June 2015, on:

PT Saka Guna Lestari, sebagai pihak yang mengambil saham Perseroan dalam rangkaian ketiga tahapan pelaksanaan Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Perseroan tersebut di atas, adalah pihak yang tidak memiliki keterkaitan dengan Perseroan. PT Saka Guna Lestari juga bukan merupakan Pemegang Saham Utama Perseroan maupun pihak terafiliasi dengan anggota Direksi, Dewan Komisaris, dan Pemegang Saham Utama Perseroan. Oleh karena itu, transaksi pengambilan saham baru Perseroan oleh PT Saka Guna Lestari ini bukan merupakan transaksi afiliasi dan tidak mengandung benturan kepentingan sebagaimana dimaksud dalam Peraturan Bapepam dan LK IX.E.1, Lampiran Keputusan Ketua Bapepam dan LK Nomor: Kep-412/BL/2009 tanggal 25 November 2009 mengenai Transaksi Afiliasi dan Benturan Kepentingan Transaksi Tertentu.

Pada 2015, Perseroan melaksanakan Penawaran Umum Terbatas I dengan cara menerbitkan Hak Memesan Efek Terlebih Dahulu kepada Para Pemegang Saham Perseroan, dan telah mendapat pernyataan efektif dari Otoritas


lembar saham shares



Rp100,-



2.518.803.600


2.558.803.600

- Tahap-3 dilakukan pada 2 Juni 2014 dan telah mendapat surat Persetujuan Pencatatan Efek dari PT Bursa Efek Indonesia Nomor: S-01943/BEI.Pg2/05-2014 tanggal 19 Mei

2014. Pengambil saham Tahap 3 adalah PT Saka Guna Lestari. Hasil Pelaksanaan Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Perseroan Tahap-3 adalah sebagai berikut:

- Stage-3 was conducted on 2 June 2014 that has received the approval letter of Shares Listing from Indonesian Stock Exchange

No. S-01943/BEI.Pg2/05-2014 dated 19 May 2014 where the party exercising the shares was PT Saka Guna Lestari. The result of the Company Capital Increase Without Pre-Emptive Rights Stage-3 was as follows:


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A B D E F G H

Atas Saham Baru tersebut telah dicatatkan di Bursa Efek Indonesia merupakan saham biasa atas nama yang akan memberikan kepada pemegangnya semua hak yang dapat dijalankan oleh setiap Pemegang Saham Perseroan serta merupakan saham yang sama dan sederajat dengan saham-saham yang telah dicatatkan sebelumnya oleh Perseroan.

The New Shares that were listed on Indonesia Stock Exchange were registered shares that would grant rights to be implemented by the Company’s Shareholders. The registered shares had fair and equal values with other previously-listed shares of the Company.

JENIS EFEK YANG DITAWARKANSecurities Type Offered

HAK MEMESAN EFEK TERLEBIH DAHULUPre-Emptive Rights

Jumlah Hak MemesanTerlebih DahuluTotal Pre-Emptive Rights

Sebanyak 8.623.168.132 (delapan miliar enam ratus dua puluh tiga juta seratus enam puluh delapan ribu seratus tiga puluh dua) saham yang merupakan Saham Baru yang dikeluarkan dari portepel Perseroan yang memiliki hak yang sama dan sederajat dalam segala hal dengan Saham Biasa Atas Nama lainnya yang telah ditempatkan dan disetor penuh.

Around 8,623,168,132 (eight billion six hundred twenty three million one hundred sixty eight thousand one hundred thirty two) New Shares issued by the company’s portfolio with fair and equal rights in all aspects with issued and fully paid Registeres Shares.

Nilai NominalNominal Value

Rp100 (seratus Rupiah) per saham atau seluruhnya dengan nilai nominal Rp862.316.813.200 (delapan ratus enam puluh dua miliar tiga ratus enam belas juta delapan ratus tiga belas ribu dua ratus Rupiah).

Rp100 (one hundred Rupiah) per share or as whole with nominal value of Rp862,316,813,200 (eight hundred sixty two billion three hundred sixteen million eight hundred thirteen thousand two hundred Rupiah).

Harga Pelaksanaan HakMemesan Terlebih Dahuluper sahamPre-Emptive Rights Implementation price per share

Rp325 (tiga ratus dua puluh lima Rupiah), sehingga keseluruhan dana yang akan diterima Perseroan sebesar Rp2.802.529.642.900 (dua triliun delapan ratus dua miliar lima ratus dua puluh sembilan juta enam ratus empat puluh dua ribu sembilan ratus Rupiah).

Rp325 (three hundred and twenty five Rupiah), making the total proceeds received by the Company at Rp2,802,529,642,900 (two trillion eight hundred and two billion five hundred twenty nine million six hundred forty two thousand nine hundred Rupiah).

Rasio KonversiConvertion Ratio

100 (seratus) Saham lama berhak atas 337 (tiga ratus tiga puluh tujuh) Hak Memesan Terlebih Dahulu.

100 (one hundred) Rights Issue on 337 (three hundred thirty seven) Pre-Emptive Rights.

Maksimum dilusi kepemilikansaham PerseroanMaximum diluted sharesownership

77,12% (tujuh puluh tujuh koma dua belas persen)

77.12% (seventy seven point twelve percent)

Jasa Keuangan berdasarkan surat dari OJK Nomor: S-253/D.04/2015, tanggal 12 Juni 2015, perihal Pemberitahuan Efektifnya Pernyataan Pendaftaran, serta telah mendapat persetujuan dalam Rapat Umum Pemegang Saham Luar Biasa Perseroan yang dilaksanakan pada Penawaran Umum Terbatas I tanggal 12 Juni 2015.

Uraian Pelaksanaan Penawaran Umum Terbatas I Perseroan adalah sebagai berikut:

Notification of Effective Registration Statement, and had been approved in the Extraordinary General Meeting of Shareholders conducted during the Rights Issue I on 12 June 2015.

The description of Right Issue I Implementation is as follows:

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93


KRONOLOGI PENCATATAN EFEK LAINNYAOther Securit ies Listing Chronology

Perseroan tidak mencatatkan efek lain di pasar modal selain penerbitan saham, sehingga informasi ini tidak dapat ditampilkan dalam Laporan Tahunan.

The Company does not list other securities in capital market apart of its shares; hence, information on this matter cannot be presented in the Annual Report.

8.623.168.132 Jumlah saham baru yang diterbitkan Penawaran Umum TerbatasThe amount of new shares issued on Right Issue I

lembar saham shares



Rp100,-

Rp325,-

Jumlah saham biasa PT Indonesian Paradise Property Tbk sebelum Penawaran Umum TerbatasThe Amount of Ordinary Share of PT Indonesian Paradise Property before Rights Issue I

2.558.803.600

Jumlah saham biasa PT Indonesian Paradise Property Tbk setelah Penawaran Umum TerbatasThe Amount of Ordinary Share of PT Indonesian Paradise Property after Rights Issue I

11.181.971.732

Pihak yang bertindak selaku Pembeli Siaga adalah Penta Pacific Holdings Limited dan Elysium Investment Partners Limited, di mana para Pembeli Siaga tersebut bukan merupakan pihak yang terafiliasi dengan Perseroan. Dalam Penawaran Umum Terbatas I ini, PT Grahatama Kreasibaru selaku Pemegang Saham Perseroan sebesar 37% (guna mempertahankan kepemilikannya dalam Perseroan) telah menyatakan kesanggupan dan melaksanakan Hak Memesan Efek Terlebih Dahulu yang menjadi haknya.

Seluruh Hak Memesan Efek Terlebih Dahulu tersebut telah dilaksanakan sehingga jumlah saham Perseroan yang dicatatkan menjadi sebesar 11.181.971.732 (sebelas miliar seratus delapan puluh satu juta sembilan ratus tujuh puluh satu ribu tujuh ratus tiga puluh dua) Saham Biasa Atas Nama yang terdiri dari 2.558.803.600 (dua miliar lima ratus lima puluh delapan juta delapan ratus tiga ribu enam ratus) Saham Lama, dan 8.623.168.132 (delapan miliar enam ratus dua puluh tiga juta seratus enam puluh delapan ribu seratus tiga puluh dua) Saham Baru, yang berasal dari Penawaran Umum Terbatas I, masing-masing dengan nilai nominal Rp100 (seratus Rupiah) setiap lembar saham.

The parties acting as Standby Buyers were: Penta Pacific Holdings Limited and Elysium Investment Partners Limited. The Standby Buyers had no affiliation with the Company. In this Right Issue I,PT Grahatama Kreasibaru as the Shareholder of 37% of the Company’s shares (in order to maintain its ownership in the Company) declared its capability and implemented its rightful Pre-Emptive Rights.

The Pre-Emptive Rights has been performed, resulting in the Company’s total listed share of 11,181,971,732 (eleven billion one hundred eighty one million nine hundred seventy one thousand seven hundred thirty two) Registered Common Stocks which consist of 2,558,803,600 (two billion five hundred fifty eight million eight hundred three thousand six hundred) issued shares and 8,623,168,132 (eight billion six hundred twenty three million one hundred sixty eight thousand one hundred thirty two) New Shares derived from Right Issue I, each share valued Rp100 (one hundred Rupiah) per share.


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JARINGAN KANTOR DAN WILAYAH KERJAOffice Network and Operational Area

NAMA DAN ALAMAT LEMBAGA DAN PROFESI PENUNJANG PASAR MODALName and Address of Capital Market Supporting Institutions and Professions

NAMA LEMBAGA DAN PROFESI

Name of Institutions and Professionals

ALAMATAddress

JASA YANG DIBERIKAN Service Rendered

PERIODE PENUGASAN

Period of Assignment

BIAYAFee

NotarisNotary:Christina Dwi Utami S.H. MHum, MKn

Jl. Kh. Zainul Arifin No. 2, Komp. Ketapang Indah Blok B-2, No. 4-5, Jakarta, 11140, Indonesia

Tel. (62-21) 6301511

Fax. (62-21) 63378511

Pembuatan Akta Berita Acara Rapat Umum Pemegang Saham Tahunan dan Luar Biasa Tahun 2017. Drafting Deed of Minutes of Annual and Extraordinary General Meeting of Shareholders of 2017.

2018 Rp20.000.000 (di luar pajak-pajak yang berlaku)Rp20,000,000 (excluding the applicable taxes)

KANTOR PUSATHead Office

Centennial Tower, 30th Floor,Jl. Gatot Subroto Kav. 24-25, Jakarta 12930, Indonesia

P (62-21) 2988 0466 F (62-21) 2988 0460

KANTOR CABANGBranch Office

Owner Representative - Batam HARRIS Hotel Batam CenterJl. Engku Putri, Batam Center, Batam 29641, Indonesia

P (62-778) 749 8991 F (62-778) 749 8890

Owner Representative - Bali Sahid Kuta Lifestyle CenterJl. Pantai Kuta, Bali 80361, Indonesia

P (62-361) 754884 F (62-361) 753866

Owner Representative - Bandung23 Paskal Shopping CenterJl. Pasir Kaliki no. 25-27, Bandung

P (62-22) 8606 2942 F (62-22) 8606 2941

Owner Representative - YogyakartaPOP! Hotel SangajiJl. AM. Sangaji Kav. 16-18, Jetis Yogyakarta, 55000, Indonesia

P (62-274) 4469399 F (62-274) 4469398

Owner Representative - MakassarMarketing GalleryJl. dr Ratulangi No 2 Gedung Sam Ratulangi Point lantai 4.

P (62-411) 8989 838

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95


INFORMASI WEBSITE PERUSAHAANInformation on Company Website

Perseroan memiliki website yang dapat diakses oleh seluruh pemangku kepentingan melalui alamat www.theparadise-group.com. Website tersebut merupakan upaya Perseroan dalam menjalankan aspek keterbukaan informasi kepada publik. Website Perseroan memiliki informasi dan tampilan yang secara berkala diperbaharui dengan berbagai informasi terkait Perseroan. Adapun informasi yang terdapat pada website Perseroan antara lain meliputi:1. Informasi pemegang saham;2. Kode Etik;3. Informasi Rapat Umum Pemegang Saham

meliputi bahan mata acara yang dibahas dalam Rapat Umum Pemegang Saham, ringkasan risalah Rapat Umum Pemegang Saham, dan informasi tanggal penting, yaitu tanggal pengumuman Rapat Umum Pemegang Saham, tanggal pemanggilan Rapat Umum Pemegang Saham, tanggal Rapat Umum Pemegang Saham, tanggal ringkasan risalah Rapat Umum Pemegang Saham diumumkan;

4. Laporan Keuangan dan Laporan Tahunan (5 tahun terakhir);5. Profil Dewan Komisaris dan Direksi;

6. Piagam/Charter Dewan Komisaris, Direksi, Komite Audit, dan Unit Audit Internal.

7. Informasi Tata Kelola Perusahaan;8. Informasi Tanggung Jawab Sosial Perusahaan;

dan9. Informasi lainnya yang dibutuhkan oleh seluruh

pemangku kepentingan.

The Company has a website that can be accessed by all stakeholders at www.theparadise-group.com. This website is the realization of Company’s effort to implement the aspect of information transparency to the public. On the website, the Company provides information related to its business that is regularly updated. The contents of the Company’s website are, among others:

1. Information on Shareholders;2. Code of Conduct;3. Information on General Meeting of Shareholders,

covering General Meeting of Shareholders agenda, minutes of General Meeting of Shareholders, and information on important dates, such as General Meeting of Shareholders announcement, General Meeting of Shareholders summons, and General Meeting of Shareholders convention, as well as the date the summary of General Meeting of Shareholders minutes are announced;

4. Financial Statements and Annual Report (of the last 5 years);

5. Profiles of Board of Commissioners and Board of Directors;

6. Charters of Board of Commissioners, Board of Directors, Audit Committee, and Internal Audit Unit.

7. Information on Corporate Governance;8. Information on Corporate Social Responsibility;

and9. Other information required by all stakeholders.

Kantor AkuntanPublikPublic Accounting Firm:Tanubrata SutantoFahmi Bambang & Rekan

Prudential Tower, 17th Floor Jl. Jendral Sudirman Kav. 79, Jakarta, 12910, Indonesia

Tel. (62-21) 57957300

Fax. (62-21) 57957301

Audit Tahunan atas Laporan Keuangan PT Indonesian Paradise Property Tbk dan Entitas Anak untuk tahun yang berakhir pada tanggal 31 Desember 2017. Annual Audit on the Financial Statements of PT Indonesian Paradise Property Tbk and Subsidiaries for the fiscal year ended on 31 December 2017.


Biro Administrasi EfekShare Registrar:PT Adimitra Jasa Korpora

Rukan Kirana Avenue III Blok F3 No.5, Kelapa Gading, Jakarta Utara 14250

Tel. (62-21) 29745222

Fax. (62-21) 29289961

Email. [email protected]

Pengadministrasian Saham Perseroan Administration of the Company’s Shares



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PROFIL MANAJEMEN

MANAGEMENT PROFILE

D


Todo SihombingPresiden Komisaris merangkap Komisaris Independen, 78 tahunPresident Commissioner cum Independent Commissioner, 78 years old

Profil Manajemen • Management ProfileManagement Profile

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A B C E F G HD

PROFIL DEWAN KOMISARISProfile of Board of Commissioners

Warga Negara Indonesia, lahir di Pematang Siantar pada tanggal 23 Februari 1941 dan sekarang berdomisili di Jakarta.

Menempuh pendidikan di Akademi Militer Nasional pada tahun 1961-1964. Pada 1976-1977 menempuh pendidikan SESKOAD, selanjutnya menempuh pendidikan SESKOGAB pada tahun 1981. Pada tahun 1987 menempuh pendidikan LEMHANAS, dan tahun 1992 menyelesaikan pendidikan di Defense Resources Management Course (DRMC). Beliau mengawali kariernya pada tahun 1965 di dunia militer dengan pangkat terakhir Mayor Jenderal TNI sampai dengan tahun 1997. Pada tahun 1994-1995 menjabat sebagai Koordinator Staf Ahli Panglima ABRI. Tahun 1995-1997 menjabat sebagai Wakil Ketua Fraksi TNI DPR RI Koordinator Bidang umum.

Diangkat pertama kali sebagai Presiden Komisaris Perseroan berdasarkan Akta Berita Acara No. 4 tanggal 6 Juli 2004. Kemudian diangkat kembali sebagai Presiden Komisaris merangkap Komisaris Independen berdasarkan Akta Pernyataan Keputusan Rapat No. 15 tanggal 10 Juni 2016.

Hubungan Afiliasi:Todo Sihombing tidak memiliki hubungan afiliasi dengan anggota Direksi dan anggota Dewan Komisaris lainnya maupun Pemegang Saham Perseroan.

An Indonesian citizen, born in Pematang Siantar on 23 February 1941 and currently lives in Jakarta.

He studied at the National Military Academy in 1961-1964, at the Army Command and Staff School (SESKOAD) in 1976-1977 and at the Integrated Staff and Command College (SESKOGAB) in 1981. In 1987, he graduated from the National Defense Institute (LEMHANAS) and in 1992 from the Defense Resources Management Course (DRMC). He started his career at the military in 1965, holding the latest rank as Major General of National Military (TNI) in 1997. He served as an Expert Staff Coordinator of Indonesian Military Commander in 1994-1995, and as a Deputy Chairman for Indonesian Military Fraction, General Affairs Coordinator, at the House of Representatives (DPR RI) in 1995-1997.

He was appointed as the Company’s President Commissioner for the first time pursuant to the Deed of Minutes No. 4 dated 6 July 2004. Then, he was reappointed as the President Commissioner cum Independent Commissioner pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016.

Affiliation:Todo Sihombing has no affiliation with members of Board of Directors, Board of Commissioners, and the Company’s Shareholders.v


Hadi CahyadiWakil Presiden Komisaris merangkap Komisaris Independen, 53 tahunVice President Commissioner cum Independent Commissioner, 53 years old


100


A B C E F G HD

Warga Negara Indonesia, lahir di Teluk Betung pada tanggal 2 Juli 1966 dan berdomisili di Jakarta.

Mendapatkan gelar Master of Business Administration (MBA) dari University of Houston-Clear Lake serta gelar Master Degree in Corporate Law (MCL) dari Royal Melbourne Institute of Technology (RMIT). Gelar Sarjana Akuntansi diperolehnya dari Universitas Tarumanagara. Mengawali karirnya tahun 1989 sebagai Auditor di Kantor Arthur Andersen, Jakarta. Beliau kemudian menempati berbagai posisi manajerial di bidang keuangan termasuk di KPMG, Ernst and Young dan Deloitte Touche dan meninggalkan jabatan terakhir beliau sebagai Partner di Management Consultant and Financial Advisory Services, Prijohandojo, Boentoro & Co. (PB&Co) sebelum akhirnya mendirikan Helios Capital.

Diangkat pertama kali sebagai Komisaris Independen berdasarkan Akta Pernyataan Keputusan Rapat No. 144, tanggal 12 Juni 2015. Selain menjabat sebagai Komisaris Independen, beliau menjabat juga sebagai Ketua Komite Audit di Perseroan sejak Mei 2015, Komisaris Independen PT Lippo Cikarang Tbk, Managing Partner di Helios Capital dengan spesialisasi di bidang Corporate Finance dan merupakan Dosen Tetap di Fakultas Ekonomi, Universitas Tarumanagara untuk bidang Strategic Management.

Hubungan Afiliasi:Hadi Cahyadi tidak memiliki hubungan afiliasi dengan anggota Direksi dan anggota Dewan Komisaris lainnya maupun Pemegang Saham Perseroan.

An Indonesian citizen, born in Teluk Betung on 2 July 1966 and currently lives in Jakarta.

He received his Master of Business Administration (MBA) degree from University of Houston-Clear Lake and Master of Corporate Law (MCL) degree from the Royal Melbourne Institute of Technology (RMIT), while his Bachelor’s degree in Accounting was obtained from Tarumanagara University. His career started in 1989 when he worked as an Auditor at Arthur Andersen Office, Jakarta. Since then, he served in several managerial positions in financial sector, including at KPMG, Ernst and Young, and Deloitte Touche. His last position was as a Partner in Management Consultant and Financial Advisory Services, Prijohandojo, Boentoro & Co. (PB&Co) prior to establishing Helios Capital.

He was appointed as the Company’s Independent Commissioner for the first time pursuant to the Deed of Meeting Resolution No. 144 dated 12 June 2015. In addition to serving as an Independent Commissioner, he has been serving as the Head of Audit Committee of the Company since May 2015. Currently, he also serves as an Independent Commissioner at PT Lippo Cikarang Tbk, a Managing Partner at Helios Capital with specialization in Corporate Finance, and as a Permanent Lecturer of Strategic Management study at the Faculty of Economics of Tarumanagara University.

Affiliation:Hadi Cahyadi has no affiliation with members of Board of Directors, Board of Commissioners, and the Company’s Shareholders.


Amelia GozaliKomisaris, 34 tahunCommissioner, 34 years old


102


A B C E F G HD

Warga Negara Indonesia, lahir di Singapura pada tanggal 6 Maret 1985 dan berdomisili di Jakarta.

Mendapatkan gelar Bachelor of Business Administration, Marketing – Honors dari University of Southern California, Marshall School of Business, Los Angeles, CA tahun 2006. Mengawali karir tahun 2004-2005 sebagai Marketing di Starbucks, Jakarta; Phelps Group, Santa Monica, CA; dan World Harvest, Arcadia, CA. Tahun 2006-2007 bekerja di Merril Lynch, Global Private Wealth Management, Beverly Hills, Los Angeles. Pada tahun 2007-2008, menjabat Business Analyst di A.T. Kearney Consultants, Jakarta. Sejak tahun 2014 menjabat CEO PT Pop Properti Indonesia yang bergerak di bidang manajemen ritel properti. Saat ini beliau juga menjabat sebagai Wakil Direktur Utama PT Plaza Indonesia Realty Tbk berdasarkan RUPS Tahunan 26 Juni 2018.

Diangkat pertama kali sebagai Wakil Presiden Komisaris Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 75 Tanggal 25 Mei 2010. Kemudian diangkat kembali sebagai Komisaris berdasarkan Akta Pernyataan Keputusan Rapat No. 15 Tanggal 10 Juni 2016.

Hubungan Afiliasi:Amelia Gozali adalah Pemegang Saham PT Grahatama Kreasibaru yang merupakan Pemegang Saham Pengendali Perseroan. Amelia Gozali juga memiliki hubungan afiliasi dengan salah satu anggota Direksi, yaitu Anthony Prabowo Susilo.

An Indonesian citizen born in Singapore on 6 March 1985 and currently lives in Jakarta.

She graduated with a Bachelor of Business Administration degree, Marketing – Honors, from University of Southern California, Marshall School of Business in Los Angeles, CA, in 2006. She started her career in 2004-2005 as a Marketing staff at Starbucks, Jakarta; Phelps Group, Santa Monica, CA; and World Harvest, Arcadia, CA. In 2006-2007, she worked at Merril Lynch, Global Private Wealth Management, in Beverly Hills, Los Angeles. In 2007-2008, she served as a Business Analyst at A.T. Kearney Consultants, Jakarta. Since 2014, she has been serving as the CEO of PT Pop Properti Indonesia, a company that is engaged in property retail management sector. At present, she also serves as the Vice President Director of PT Plaza Indonesia Realty Tbk based on the Annual GMS on 26 June 2018.

She was appointed as the Company’s Vice President Commissioner for the first time pursuant to the Deed of Meting Resolution No. 75 dated 25 May 2010. Then, she was reappointed as a Commissioner pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016.

Affiliation:Amelia Gozali is a Shareholder of PT Grahatama Kreasibaru which is the Company’s Controlling Shareholder. She also has an affiliation with one of the members of Board of Directors, Anthony Prabowo Susilo.


Karel PatipeilohyKomisaris, 61 tahunCommissioner, 61 years old


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A B C E F G HD

Warga Negara Indonesia, lahir di Jakarta pada tanggal 19 Maret 1958 dan berdomisili di Jakarta.

Pada tahun 1979-1990 menjabat sebagai Operation Manager PT Schlumberger Geophysics Nusantara dan PT Ometraco Realty. Tahun 1998-2004 menjabat sebagai Direktur PT Inti Insan Santosa. Tahun 2001-2004 pernah menjabat sebagai Presiden Direktur PT Marina City Development, dan tahun 2004-2014 menjabat sebagai Presiden Direktur PT Senimba Bay Resort (dahulu PT Marina City Development). Sejak tahun 2000 hingga sekarang menjabat sebagai Komisaris PT Sinar Harapan Persada.

Diangkat pertama kali sebagai Komisaris Perseroan berdasarkan Akta Pernyataan Keputusan RapatNo. 1 tanggal 1 Juni 2005. Kemudian diangkat kembali sebagai Komisaris berdasarkan Akta Pernyataan Keputusan Rapat No. 15 tanggal 10 Juni 2016. Selain menjabat sebagai Komisaris Perseroan, beliau juga anggota Komisaris beberapa entitas anak dan afiliasi Perseroan, yaitu Komisaris PT Grahatama Kreasibaru, Wakil Komisaris Utama PT Cakra Guna Dharma Eka, Komisaris Utama PT Kega Property Utama, dan Komisaris PT Mega Biru Selaras serta PT Graha Pradipta Pratama.

Hubungan Afiliasi:Karel Patipeilohy juga merupakan KomisarisPT Grahatama Kreasibaru yang merupakan Pemegang Saham Pengendali Perseroan.

An Indonesian citizen born in Jakarta on 19 March 1958 and currently lives in Jakarta.

In 1979-1990, he served as an Operation Manager at PT Schlumberger Geophysics Nusantara and PT Ometraco Realty. In 1998-2004, he served as a Director at PT Inti Insan Santosa. In 2001-2004 he served as the President Director of PT Marina City Development and in 2004-2014 as the President Director of PT Senimba Bay Resort (previously PT Marina City Development). Since 2000 until present, he has been serving as a Commissioner at PT Sinar Harapan Persada.

He was appointed as the Company’s Commissioner for the first time pursuant to the Deed of Meting Resolution No. 1 dated 1 June 2005. Then, he was reappointed as a Commissioner pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016. In addition to serving as the Company’s Commissioner, he also holds a strategic position at several subsidiaries and affiliates of the Company, namely a Commissioner at PT Grahatama Kreasibaru, Vice President Commissioner ofPT Cakra Guna Dharma Eka, President Commissioner of PT Kega Property Utama, and Commissioner at PT Mega Biru Selaras and PT Graha Pradipta Pratama.

Affiliation:Karel Patipeilohy also serves as a Commissioner at PT Grahatama Kreasibaru which is the Company’s Controlling Shareholder.

105


PROFIL KOMITE AUDIT Profile of Audit Committee

Profil Ketua Komite Audit dapat dilihat di bab Profil Dewan Komisaris.

Profile of the Chairman of Audit Committee can be seen under the sub-chapter of Profile of Board of Commissioners.

AnangYudiansyah

Warga Negara Indonesia, lahir di Malang, 18 April 1969 dan berdomisili di Jakarta.

Beliau menyelesaikan pendidikannya di Universitas Indonesia bidang Akuntansi pada 1994. Beliau mengawali karirnya sebagai Senior Auditor Ernst & Young (September 1992 – Maret 1996), Head of Internal Audit pada PT Semen Cibinong Tbk (Maret 1996 – Maret 2000), Komite Audit pada PT Sarana Menara Nusantara Tbk (Desember 2011 – Juni 2013). Komite Audit pada PT Ancora Resources Tbk (November 2009 – April 2014). Senior Advisor (consulting & auditing) pada PT DEXSolutions Indonesia (April 2009 – sekarang).

An Indonesian citizen, born in Malang on 18 April 1969 and currently lives in Jakarta.

He graduated from the Accounting Study Program of the University of Indonesia in 1994. Mr. Yudiansyah began his career as a Senior Auditor at Ernst & Young (September 1992 – March 1996), Head of Internal Audit at PT Semen Cibinong Tbk (March 1996 – March 2000), Member of Audit Committee at PT Sarana Menara Nusantara Tbk (December 2011 – June 2013), Member of Audit Committee at PT Ancora Resources Tbk (November 2009 – April 2014), and Senior Advisor (consulting & auditing) at PT DEXSolutions Indonesia (April 2009 – present).

Hadi CahyadiKetua Komite Audit merangkap Komisaris IndependenChairman of Audit Committee cum Independent Commissioner

Anggota Komite AuditMember of Audit Comitee


106


A B C E F G HD

KurniadiWarga Negara Indonesia, lahir di Bogor pada 8 Oktober 1970 dan berdomisili di Jakarta.

Beliau menamatkan pendidikannya di Universitas Tarumanagara bidang Akuntansi pada tahun 1993). Beliau mengawali karirnya sebagai Auditor di Kantor Akuntan Publik Johan Malonda & Rekan (Juli 1992 – Oktober 1993), Auditor & Consultant pada Prasetio Utomo & Co. – Public Accountant & Consultation (Oktober 1993 – November 1996). Corporate Secretary pada PT Intikeramik Alamasri Industri Tbk (November 1996 – Juli 2010), Anggota Komite Audit pada PT Indostraits Tbk (Januari 2012 – sekarang), Anggota Komite Audit pada PT Kobexindo Tractors Tbk (Desember 2012 – sekarang), dan Anggota Komite Audit pada PT Barito Pacific Tbk (Juni 2013 – sekarang).

An Indonesian citizen, born in Bogor on 8 October 1970 and currently lives in Jakarta.

He graduated from the Accounting Study Program of Tarumanagara University in 1993. Mr. Kurniadi began his career as an Auditor at Public Accounting Firm Johan Malonda & Rekan (July 1992 – October 1993), Auditor & Consultant at Prasetio Utomo & Co. – Public Accountant & Consultation (October 1993 – November 1996), Corporate Secretary at PT Intikeramik Alamasri Industri Tbk (November 1996 – July 2010), Member of Audit Committee at PT Indostraits Tbk (January 2012 – present), Member of Audit Committee at PT Kobexindo Tractors Tbk (December 2012 – present), and Member of Audit Committee at PT Barito Pacific Tbk (June 2013 – present).



Agoes Soelistyo SantosoPresiden Direktur, 57 tahunPresident Director, 57 years old


108


A B C E F G HD

PROFIL DIREKSIProfile of Board of Directors

Warga Negara Indonesia, lahir di Semarang pada tanggal 26 September 1961 dan berdomisili di Jakarta.

Meraih gelar sarjana dari Fakultas Ekonomi, Universitas Katolik Parahyangan tahun 1985. Dalam kurun waktu tahun 1985-1992 menjabat sebagai Finance & Accounting Manager di beberapa perusahaan, yaitu PT Daya Knitto, Indomobil Group, dan Sinar Mas Group. Pada tahun 1992-1996 menjabat sebagai Direktur PT Budi Acid Jaya Tbk, tahun 1996-2000 menjabat sebagai Presiden Direktur PT Ometraco Corporation Tbk. Sejak tahun 2000 menjabat sebagai anggota Direksi di berbagai entitas anak PT Indonesian Paradise Property Tbk.

Diangkat pertama kali sebagai Presiden Direktur Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 1 tanggal 1 Juni 2005. Kemudian diangkat kembali sebagai Presiden Direktur berdasarkan Akta Pernyataan Keputusan Rapat No. 15 tanggal 10 Juni 2016. Selain menjabat sebagai Presiden Direktur Perseroan, beliau juga Direktur beberapa entitas anak dan afiliasi Perseroan, yaitu PT Indonesian Paradise Island, PT Java Paradise Island, PT Eka Ilalang Suryadinamika, dan Direktur Utama PT Kega Property Utama.

Hubungan Afiliasi:Agoes Soelistyo Santoso tidak memiliki hubungan afiliasi dengan anggota Direksi dan anggota Dewan Komisaris lainnya maupun Pemegang Saham Perseroan.

An Indonesian citizen, born in Semarang on 26 September 1961 and currently lives in Jakarta.

He graduated with a Bachelor’s degree from the Faculty of Economics of Parahyangan Catholic University in 1985. During the period of 1985-1992, he served as a Finance & Accounting Manager at several companies, namely PT Daya Knitto, Indomobil Group, and Sinar Mas Group. In 1992-1996, he served as a Director at PT Budi Acid Jaya Tbk and in 1996-2000 as President Director at PT Ometraco Corporation Tbk. He has been serving as a member of Board of Directors at several subsidiaries of PT Indonesia Paradise Property Tbk since 2000.

He was appointed as the Company’s President Director for the first time pursuant to the Deed of Meeting Resolution No. 1 dated 1 June 2005. Then, he was reappointed as the President Director pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016. In addition to serving as the President Director, he serves as a Director at several Company’s subsidiaries and affiliates, namely PT Indonesian Paradise Island, PT Java Paradise Island, and PT Eka Ilalang Suryadinamika, and as the President Director of PT Kega Property Utama.

Affiliation:Agoes Soelistyo Santoso has no affiliation with members of Board of Directors, Board of Commissioners, and the Company’s Shareholders.


Anthony PrabowoSusiloWakil Presiden Direktur, 35 tahunVice President Director, 35 years old


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A B C E F G HD

Warga Negara Indonesia, lahir pada tanggal 24 April 1984 dan berdomisili di Jakarta.

Meraih gelar Bachelor of Science in Business Administration Concentration in Finance and Accounting dari Georgetown University, Washington D.C., USA. Menjabat sebagai Vice President di PT Principia Management Group tahun 2008-2015, Vice President of Business Development di PT Cardig Air tahun 2008-2015, Direktur di PT Nusantara Steelmills Indonesia tahun 2012-2015, Associate di Altus Shipping & Logistics Pte. Ltd. (Singapura) tahun 2011-2013, Direktur di PT Gorda Prima Steelworks tahun 2012-2015, serta Direktur di PT Sitasa Energi tahun 2013-2015. Diangkat pertama kali sebagai Wakil Presiden Direktur Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 15 Tanggal 10 Juni 2016. Beliau juga menjadi Direktur untuk beberapa entitas anak Perseroan, yaitu PT Segara Biru Kencana, PT Padma Suasa,PT Karsa Citra Unggul, PT Mitra Perdana Nuansa, dan PT Praba Kumala Sajati, serta menjabat sebagai Direktur Utama PT Retzan Indonusa.

Hubungan afiliasi:Anthony Prabowo Susilo tidak memiliki hubungan afiliasi dengan Direksi, namun memiliki hubungan afiliasi dengan Pemegang Saham Pengendali Perseroan dan salah satu anggota Dewan Komisaris yakni Amelia Gozali.

An Indonesian citizen, born on 24 April 1984 and currently lives in Jakarta.

He obtained his Bachelor of Science degree, majoring in Business Administration Concentration in Finance and Accounting from Georgetown University in Washington D.C., USA. Prior to serving his current position, he held the post of Vice President of PT Principia Management Group in 2008-2015, Vice President of Business Development of PT Cardig Air in 2008-2015, Director at PT Nusantara Steelmills Indonesia in 2012-2015, Associate at Altus Shipping & Logistics Pte. Ltd. (Singapore) in 2011-2013, Director at PT Gorda Prima Steelworks in 2012-2015, and Director at PT Sitasa Energi in 2013-2015. He was appointed as the Company’s Vice President Director for the first time pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016. He also serves as a Director at several Company’s subsidiaries, namely PT Segara Biru Kencana, PT Padma Suasa, PT Karsa Citra Unggul, PT Mitra Perdana Nuansa, and PT Praba Kumala Sajati and PT Praba Kumala Sajati, and as the President Director of PT Retzan Indonusa.

Affiliation:Anthony Prabowo Susilo has no affiliation with members of Board of Directors; however, he is affiliated with the Company’s Controlling Shareholders and a member of Board of Commissioners of the Company, Amelia Gozali.


Alexander Nartates NartatesDirektur, 65 tahunDirector, 65 years old


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A B C E F G HD

Warga Negara Filipina, lahir pada tanggal26 Januari 1954 dan berdomisili di Jakarta.

Beliau merupakan lulusan University of Santo Tomas tahun 1971 serta Colegio de San Juan de Letran – Intramuros pada tahun 1975. Menjabat sebagai Head - Corporate Finance and Investor Relations di PT Kawasan Industri Jababeka Tbk pada tahun 2005-2014, Corporate Finance and Corporate Affairs di PT Arwana Citramulia Tbk pada tahun 2002-2004, Control Dept. di Texas Instruments Philippines Inc., tahun 1979-1988, serta Head of Business Development and Investor Relations di PT Indonesian Paradise Property Tbk pada tahun 2015 hingga sekarang.

Diangkat pertama kali sebagai Direktur Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 15 tanggal 10 Juni 2016.

Hubungan afiliasi:Alexander Nartates Nartates tidak memiliki hubungan afiliasi dengan anggota Direksi dan anggota Dewan Komisaris lainnya maupun Pemegang Saham Perseroan.

A Philippine citizen, born on 26 January 1954 and currently lives in Jakarta.

He graduated from University of Santo Tomas in 1971 and Colegio de San Juan de Letran – Intramuros in 1975. Prior to serving his current position, he served as the Head of Corporate Finance and Investor Relations at PT Kawasan Industri Jababeka Tbk (2005-2014), Corporate Finance and Corporate Affairs at PT Arwana Citramulia Tbk (2002-2004), Control Dept. at Texas Instruments Philippines Inc. (1979-1988), and Head of Business Development and Investor Relations at PT Indonesian Paradise Property Tbk (2015 up to present).

He was appointed as the Company’s Director for the first time pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016.

Affiliation:Alexander Nartates Nartates has no affiliation with members of Board of Directors, Board of Commissioners, and the Company’s Shareholders.


Patrick SantosaRendradjajaDirektur, 60 tahunDirector, 60 years old


114


A B C E F G HD

Warga Negara Indonesia, lahir di Banjarmasin pada tanggal 9 Januari 1959 dan berdomisili di Jakarta.

Mendapat gelar Master of Science in Architecture dari Delft Technical University, Netherlands tahun 1986. Dalam kurun waktu tahun 1989 – 2000 bekerja sebagai Arsitek di Atelier 6 Group, Jakarta dan Project Coordinator Lippo City Development, Jakarta; Ometraco Realty, Jakarta; serta Bentala Sanggrahan Group, Jakarta. Sejak tahun 1999 menjabat sebagai Direktur di berbagai perusahaan di bawah The Paradise Group.

Diangkat pertama kali sebagai Direktur Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 1 tanggal 1 Juni 2005. Kemudian diangkat kembali sebagai Direktur berdasarkan Akta Pernyataan Keputusan Rapat No. 15 tanggal 10 Juni 2016. Beliau juga menjadi Direktur untuk beberapa entitas anak Perseroan yaitu PT Anugerah Nusaraya, PT Indonesian Paradise Island dan PT Kega Property Utama.

Hubungan afiliasi:Patrick Santosa Rendradjaja tidak memiliki hubungan afiliasi dengan anggota Direksi dan anggota Dewan Komisaris lainnya maupun Pemegang Saham Perseroan.

An Indonesian citizen, born in Banjarmasin on9 January 1959 and currently lives in Indonesia.

He graduated with a Master of Science degree in Architecture from Delft Technical University in the Netherlands in 1986. In 1989-2000, he worked as an Architect at Atelier 6 Group in Jakarta, and as a Project Coordinator at Lippo City Development in Jakarta, Ometraco Realty in Jakarta, and Bentala Sanggrahan Group in Jakarta. Since 1999, he has been serving as the Director for companies under The Paradise Group.

He was appointed as the Company’s Director for the first time pursuant to the Deed of Meeting Resolution No. 1 dated 1 June 2005. Then, he was reappointed as a Director pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016. He currently also serves as a Director at several subsidiaries of the Company, i.e. PT Anugerah Nusaraya, PT Indonesian Paradise Island, andPT Kega Property Utama.

Affiliation:Patrick Santosa Rendradjaja has no affiliation with members of Board of Directors, Board of Commissioners, and the Company’s Shareholders.


Diana SolaimanDirektur, 49 tahunDirector, 49 years old


116


A B C E F G HD

Warga Negara Indonesia, lahir di Jakarta pada tanggal 4 Oktober 1969 dan berdomisili di Jakarta.

Meraih gelar Master in Business Administration dari Philippine Christian University, Manila tahun 1992. Dalam kurun waktu tahun 1992-2001 pernah menjabat sebagai Finance & Accounting Manager di beberapa perusahaan yaitu PT Putera Ometraco Electric dan PT Ometraco Corporation Tbk.

Diangkat pertama kali sebagai Direktur Perseroan berdasarkan Akta Pernyataan Keputusan Rapat Nomor 1 Tanggal 1 Juni 2005. Kemudian diangkat kembali sebagai Direktur Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 15 tanggal10 Juni 2016. Beliau juga menjabat di beberapa entitas anak Perseroan yaitu Komisaris PT Indonesian Paradise Island, PT Retzan Indonusa, serta Direktur PT Grahatama Kreasibaru.

Hubungan afiliasi:Diana Solaiman merupakan Direktur PT Grahatama Kreasibaru yang merupakan Pemegang Saham Pengendali Perseroan.

An Indonesian citizen born in Jakarta on 4 October 1969 and currently lives in Jakarta.

She graduated with a Master’s degree in Business Administration from Philippine Christian University in Manila in 1992. In the period of 1992-2001, she worked as a Finance & Accounting Manager at several companies such as PT Putera Ometraco Electric and PT Ometraco Corporation Tbk.

She was appointed as the Company’s Director for the first time pursuant to the Deed of Meeting Resolution No. 1 dated 1 June 2005. Then, she was reappointed as a Director pursuant to the Deed of Meeting Resolution No. 15 dated 10 June 2016. She currently also serves as a Commissioner at several subsidiaries of the Company: i.e. PT Indonesian Paradise Island and PT Retzan Indonusa, as well as a Director at PT Grahatama Kreasibaru.

Affiliation:Diana Solaiman is a Director at PT Grahatama Kreasibaru which is the Company’s Controlling Shareholder.

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PROFIL SEKRETARIS PERUSAHAANProfile of Corporate Secretary

Ispandiati Makmur diangkat sebagai Sekretaris Perusahaan pada tanggal 12 Juni 2017 berdasarkan Surat Keputusan Direksi No. 002/SKD-INPP/VI/2017 menggantikan Diana Solaiman.

Warga Negara Indonesia, lahir di Ujung Pandang tanggal 4 Juli 1975 dan berdomisili di Jakarta.

Memulai karirnya sebagai Associate di Arie S. Hutagalung & Partner, Law Firm di Jakarta. Sebelum bergabung dengan Perseroan, menjabat sebagai Senior Corporate Legal di PT Jakarta Setiabudi Internasional Tbk. sejak tahun 2012 - 2017, Senior Associate di Makes & Partners Law Firm 2008 - 2012, dan Corporate Legal di PT Lafarge Cement Indonesia tahun 2004 – 2008. Ispandiati Makmur menempuh pendidikan di Fakultas Hukum Universitas Indonesia.

Ispandiati Makmur was appointed as the Corporate Secretary on 12 June 2017, replacing Diana Solaiman, based on the Decree of Board of Directors No. 002/SKD-INPP/VI/2017.

She is an Indonesian citizen, born in Ujung Pandang on 4 July 1975 and currently lives in Jakarta.

Ispandiati Makmur began her career as an Associate at Arie S. Hutagalung & Partner, a Law Firm in Jakarta. Prior to joining the Company, she served as a Senior Corporate Legal at PT Jakarta Setiabudi Internasional Tbk (2012-2017), Senior Associate at Makes & Partners Law Firm (2008-2012), and Corporate Legal at PT Lafarge Cement Indonesia (2004-2008). She graduated from the Faculty of Laws of the University of Indonesia.

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A B C E F G H

PROFIL KEPALA INTERNAL AUDIT Profile of Chief Internal Audit

Warga Negara Indonesia, lahir di Sigumpar, 23 April 1982 dan berdomisili di Jakarta.

Beliau menamatkan pendidikannya di Universitas Janabadra Yogyakarta jurusan Akuntansi pada tahun 2006. Beliau mengawali karirnya sebagai Independent Control Unit di PT Summit Oto Finance (Juni 2007 – Juni 2010), Corporate Internal Audit pada PT Gramedia Multi Utama (Juni 2010 – Desember 2011), dan sebagai Chief Internal Audit pada PT Keramika Indonesia Assosiasi Tbk (2011 – 2018).

An Indonesian citizen, born in Sigumpar on 23 April 1982 and currently lives in Jakarta.

He completed his study in the Accounting Department of Universitas Janabadra Yogyakarta in 2006. Mr. Pardede began his career as an Independent Control Unit at PT Summit Oto Finance (June 2007 – June 2010), Corporate Internal Audit at PT Gramedia Multi Utama (June 2010 – December 2011), and Chief Internal Audit at PT Keramika Indonesia Assosiasi Tbk (2011-2018).

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PENDIDIKAN DAN PELATIHAN MANAJEMEN 2018 Education and Training Programs for Management in 2018

NAMA Name

JABATANPosition

PENDIDIKAN/PELATIHAN/UPSKILLING Education/Training/Upskilling

PENYELENGGARA Organizer

WAKTU Date

Amelia Gozali KomisarisCommissioner

The World Leading International Event Series Connecting the Eminent Professionals and Organizations Who Believe Natural Language will be the Next Curve in Customer Experiences

Chatbots Asia Summit

18-19 April 2018

NAMA Name

JABATANPosition



WAKTU Date

Agoes Soelistyo Santoso

Presiden Direktur President Director

Speaker at Real Estate Investment Indonesia: Category Hospitality

Real Estat Indonesia 25 September 2018

Problem Solving Decision Making (PSDM)

Learning Resources 13-14 September 2018

Teamwork Learning Resources 15 November 2018

CEO Networking: Embrace Networking and Synergy to Complete Globally

OJK, BEI dan KSEIOJK, IDX, and KSEI

3 December 2018

Anthony Prabowo Susilo

Wakil Presiden DirekturVice President Director

Workshop: YPO Edge - Online Reputation Management YPO Edge - Advance Decision Making

Youth President Organization (YPO)

7 March 2018

YPO Seminar: Increase Synergy at your workplace and with your Board members by Rapidly Scaling Trust and Engagement Through Forum Principles

Youth President Organization (YPO)

6 April 2018

The World Leading International Event Series connecting the Eminent Professionals and Organizations Who Believe Natural Language will be the Next Curve in Customer Experiences

Chatbots Asia Summit

18-19 April 2018

Behind Closed Door with Minister of Tourism

Kementerian PariwisataMinistry of Tourism

2 May 2018

THINC Hotelivate Event (Tourism, Hotel Investment & Networking Conference):The Owners’ Speak - The Nuances of Deal Makers and Deal Breakers

THINC Hotelivate Event

6 September 2018



Pendidikan dan Pelatihan Dewan Komisaris | Education and Training of Board of Commissioners

Pendidikan dan Pelatihan Direksi | Education and Training of Board of Directors


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A B C E F G HD

NAMA Name

JABATANPosition



WAKTU Date

Ispandiati Makmur

Corporate Secretary

Seminar Pendalaman POJK No. 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten dan Perusahaan Terbuka;Seminar on POJK No. 51/POJK.03/2017 regarding Sustainable Financial Implementation for Financial Service Institution, Issuer and Public Company;

Bursa Efek Indonesia, OJK Indonesia Stock Exchange, OJK

9 January 2018

Seminar Tentang “Globalization in Uncertain Times”; Seminar “Globalization in Uncertain Times”


18 January 2018

Seminar Optimalisasi Peran Sektor Keuangan untuk Meningkatkan Pertumbuhan Ekonomi Seminar on the Optimization of the Role of Financial Sector to Improve Economic Growth

Asosiasi Emiten Indonesia Indonesian Public Listed Companies Association

20 February 2018

Seminar Pendalaman POJK No.29/POJK.04/2016 dan SE OJK No. 30/SEOJK.04/2016 Seminar on POJK No.29/POJK.04/2016 and SE OJK No. 30/SEOJK.04/2016


13 February 2018

Seminar Optimalisasi Peran Sektor Keuangan untuk Meningkatkan Pertumbuhan EkonomiSeminar on the Optimization of the Role of Financial Sector to Improve Economic Growth


14 February 2018

Seminar Pendalaman POJK No.33/POJK.04/2014 dan POJK No.13/POJK.03/2017 Seminar on POJK No.29/POJK.04/2016 and SE OJK No. 30/SEOJK.04/2016


13 March 2018

Sosialisasi Penilaian ASEAN Corporate Governance Scorecard Socialization regarding the Assessment of ASEAN Corporate Governance Scorecard

Otoritas Jasa Keuangan OJK Financial Services Authority OJK

15 March 2018

World Bank East Asia and Pacific Economic Update: Enhancing Potential

World Bank Group 13 April 2018

Pendidikan dan Pelatihan Sekretaris Perusahaan | Education and Training of Corporate Secretary

NAMA Name

JABATANPosition



WAKTU Date



EO Conference - Age of Disruption “How to leverage Facebook, Instagram & WA to grow our Sales”

Facebook Indonesia 1 November 2018







Alexander Nartates Nartates

Direktur IndependenIndependent Director


Patrick Santosa Rendradjaja

DirekturDirector



Diana Solaiman DirekturDirector


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Ispandiati Makmur

Corporate Secretary

Seminar POJK Nomor 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik & POJK No.58/POJK.04/2017 tentang Penyampaian Pernyataan Pendaftaran atau Pengajuan Aksi Korporasi Secara ElektronikSeminar on POJK No. 33/POJK.04/2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company and POJK No. 58/POJK.04/2017 regarding Submission of Registration Statement or Proposal of Corporate Action Electronically

Bursa Efek Indonesia, Otoritas Jasa Keuangan Indonesia Stock Exchange, Financial Services Authority

17 April 2018

Seminar POJK Nomor 32/POJK.04/2015 tentang Penambahan Modal Perusahaan Terbuka dengan memberikan Hak Memesan Efek Terlebih DahuluSeminar on POJK No. 32/POJK.04/2015 regarding Addition of Capital of Public Company through Pre-Emptive Rights

Bursa Efek Indonesia, Otoritas Jasa Keuangan Indonesia Stock Exchange, Financial Services Authority

18 April 2018

Seminar POJK No. 3/POJK.04/2018 dan POJK No. 7/POJK.04/2018 tentang Penyampaian Laporan Melalui Sistem Elektronik Emiten atau Perusahaan PublikSeminar on POJK No. 3/POJK.04/2018 and POJK No. 7/POJK.04/2018 regarding Submission of Report trough Electronic System for Issuer and Public Company


May 2018

Accelerated Leadership & Managerial Skill Learning Resources 21 May 2018 to 22 May 2018

Sustain Reporting for Public Listed Companies Bursa Efek Indonesia, Global Reporting Initiative Indonesia Stock Exchange, Global Reporting Initiative

July 2018

Seminar Konsekuensi Undang-Undang Pasar Modal bagi Perusahaan Publik dan Hal-hal yang Perlu Diwaspadai oleh Corporate SecretarySeminar on the Consequences of Capital Market Laws for Public Company, and Issues that the Corporate Secretary must be Aware

Bursa Efek Indonesia, ICSAIndonesia Stock Exchange, ICSA

23 July 2018

Sustain Reporting for Public Listed Companies Bursa Efek Indonesia, Global Reporting Initiative Indonesia Stock Exchange, Global Reporting Initiative

1 August 2018

Undangan Seminar Terkait Peraturan BAPEPAM IX.E.2 tentang Transaksi Material dan Perubahan Kegiatan Usaha UtamaInvitation to the Seminar on Changes in Regulation of BAPEPAM IX.E.2 regarding Material Transaction and Changes in Core Business Activities


14 August 2018

Menuju Pasar Modal Modern di Era Ekonomi Digital Towards Modern Capital Market in the Era of Digital Economy


18 September 2018

Pemaparan dan Diskusi Konsep Peraturan No. I-A tentang Pencatatan Saham dan Efek Bersifat Ekuitas selain Saham yang diterbitkan oleh Perusahaan TercatatExposition and Discussion on the Concept of Regulation No. I-A regarding Listing of Securities Shares and Equity aside from the Shares Issued by the Listed Company


20 September 2018

Pemaparan POJK No.9/POJK.04/2018 tentang pengambilalihan Perusahaan Terbuka tanggal 27 Juli 2018, Pemaparan POJK No. 11/POJK.04/2018 tentang Penawaran Umum Efek Bersifat Utang dan/atau Sukuk kepada Pemodal Profesional tanggal 1 Agustus 2018 Exposition of POJK No.9/POJK.04/2018 regarding Acquisition of Public Company on 27 July 2018, Exposition of POJK No. 11/POJK.04/2018 regarding Public Offering of Debt Securities and/or Sukuk to Professional Investors on 1 August 2018

Bursa Efek Indonesia, Asosiasi Emiten Indonesia Indonesia Stock Exchange, Indonesian Public Listed Companies Association

27 September 2018

Peranan Underwriter dan Wali Amanat dalam Corporate SecretaryThe Role of Underwriter and Trustee in Corporate Secretary


9 October 2018

CEO Networking 2018, HUT Pasar ModalCEO Networking 2018, Anniversary of Capital Market


14 November 2018



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A B C D E F G H

ANALISIS DANPEMBAHASAN MANAJEMEN

MANAGEMENT DISCUSSION AND ANALYSIS

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Pada tahun 2018, pertumbuhan ekonomi global mengalami perlambatan dan ditandai dengan ketidakpastian yang meningkat. Pertumbuhan ekonomi dunia melambat dari 3,8% pada 2017 menjadi 3,7% pada 2018. Pertumbuhan ekonomi yang melambat kemudian menurunkan pertumbuhan volume perdagangan dunia dan harga komoditas global. Suku bunga Federal Funds Rate (FFR) naik lebih cepat dan lebih tinggi dari respons tahun sebelumnya, sehingga memicu risiko pembalikan aliran modal dari negara berkembang. Kemudian, ketidakpastian pasar keuangan global meningkat dipicu beberapa faktor seperti peningkatan ketegangan perdagangan Amerika Serikat (AS) dengan Tiongkok dan negara lain, risiko geopolitik seperti perundingan Brexit dan krisis di beberapa negara berkembang seperti Argentina dan Turki.

Di tengah gejolak makroekonomi global, Indonesia tetap mampu mempertahankan kesehatan fundamental ekonomi antara lain terlihat dari pertumbuhan ekonomi yang stabil. secara umum, stabilitas ekonomi makro Indonesia terjaga di tengah volatilitas global. Pertumbuhan ekonomi 2018 tercatat 5,17%, meningkat dibandingkan dengan pertumbuhan tahun sebelumnya sebesar 5,07%. Pencapaian pertumbuhan ekonomi dalam negeri tersebut didukung oleh permintaan domestik yang meningkat, investasi yang tumbuh, serta belanja Pemerintah yang membaik. Pertumbuhan konsumsi yang tetap kuat ini didukung oleh terjaganya laju inflasi. Data Bank Indonesia (BI) mencatat laju inflasi sampai dengan akhir 2018 tercatat sebesar 3,13% (yoy), lebih rendah dari periode yang sama di 2017 sebesar 3,61% (yoy).

Kondisi ekonomi dalam negeri tersebut turut memberikan pengaruh pada industri perhotelan sepanjang tahun 2018. Data Badan Pusat Statistik (BPS) mencatat, hingga Desember 2018 tingkat hunian hotel mencapai 59,75% sedikit mengalami kenaikan dibandingkan pada tahun 2017 yang tercatat sebesar 59,53%. Sementara jumlah kunjungan wisatawan mancanegara atau wisman ke Indonesia mencapai 15,81 juta kunjungan

In 2018, global economy recorded slowing growth and increasing uncertainty in several sectors. Global economic growth slowed from 3.8% in 2017 to 3.7% in 2018 which resulted in the declining global trade volume as well as global commodity prices. The Federal Fund Rate (FFR) rose faster and higher than the response of the previous year, triggering a risk of reverse capital flows from developing countries. In addition, the uncertainty of global financial markets increased contributed by several factors such as the increasing trade tensions between the United States (US) and China as well as other countries, geopolitical risks such as Brexit negotiations, and crises in a number of developing countries, such as Argentina and Turkey.

Amidst the global macroeconomic turmoil, Indonesia managed to maintain its economic fundamentals at a healthy level as reflected on, among others, the steady economic growth. Broadly speaking, Indonesia’s macroeconomic stability was maintained amidst the global volatility. Domestic economic growth of 2018 reached the level of 5.17%, an increase compared to the growth of the previous year recorded at 5.07%. This domestic economic growth achievement was due to the increase in domestic demand, growth of investment, and improvement in government expenditure, all of which was supported by the maintained inflation rate. Bank Indonesia (BI) recorded inflation rate up to the end of 2018 at the level of 3.13% (yoy), lower than the inflation rate recorded in the corresponding period in 2017 at 3.61% (yoy).

Such positive domestic economic conditions had an impact on the hospitality industry throughout 2018. Data from the Statistics Indonesia (BPS) noted that, as of December 2018, hotel occupancy rates reached 59.75%, slightly higher than the rate of 2017 booked at 59.53%. Meanwhile, the number of foreign tourist arrivals to Indonesia reached 15.81 million visits, up 12.58% compared to the number of foreign tourist visits in 2017 which amounted to 14.04

TINJAUAN MAKROEKONOMI DAN INDUSTRI Overview on Macroeconomy and Industry

Analisis dan Pembahasan Manajemen • Management Discussion and AnalysisManagement Discussion and Analysis

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TINJAUAN OPERASI PER SEGMEN USAHAOperational Overview per Business Segment

Perseroan bergerak di bidang penyediaan akomodasi (hotel) dan melakukan penyertaan dalam bentuk saham pada entitas lain, memiliki segmen usaha yang terdiri dari hotel dan pusat perbelanjaan.

Hotel

HARRIS Hotel Tuban – BaliHARRIS Hotel Tuban – Bali mulai beroperasi pada Oktober 2002 dan merupakan fokus kegiatan usaha pertama Perseroan. HARRIS Hotel Tuban – Bali terletak di Jalan Dewi Sartika, Tuban, Bali. Dengan lokasi yang sangat strategis, berdampingan dengan Bandara Internasional Ngurah Rai, berdekatan dengan Pantai Tuban di Kuta Selatan, serta terletak tidak jauh dari pusat perbelanjaan Kuta menjadi pilihan paling tepat bagi turis domestik maupun internasional.

Perseroan memberikan jasa akomodasi hotel yang dibangun di atas lahan seluas 4.500 m2 dengan nuansa modern minimalis dengan 147 kamar yang dilengkapi dengan berbagai fasilitas, seperti kolam renang, coffee shop, gym & spa, ruang rapat dan lain-lain menjadi nilai tambah yang menarik. Selain cocok untuk tamu-tamu yang sedang melakukan perjalanan bisnis, HARRIS Hotel Tuban – Bali juga

The Company engages in the provision of accommodation (hotel) service and makes investments in the form of shares in other entities. Its business segments comprise hotels and shopping centers.

Hotels

HARRIS Hotel Tuban – BaliHARRIS Hotel Tuban – Bali commenced its operations in October 2002 and is the initial focus of the Company’s business activities. HARRIS Hotel Tuban – Bali is a hotel located on Jalan Dewi Sartika, Bali, in a strategic situation next to Ngurah Rai International Airport, close to Tuban Beach in South Kuta and just a few minutes away from Kuta shopping center; such a perfect spot to stay for both domestic and international tourists.

The Company provides accommodation services through this modern-minimalist property which is built on 4,500 sqm land and equipped with 147 rooms and various facilities, such as swimming pool, coffee shop, gym & spa, meeting rooms, and others, to complement its value and attractiveness. HARRIS Hotel Tuban – Bali is suitable for business travelers and a great choice for families wishing to

atau naik 12,58% dibanding jumlah kunjungan wisatawan mancanegara pada tahun 2017 yang berjumlah 14,04 juta kunjungan. Di sisi lain, indeks harga properti komersial hingga triwulan IV 2018 mengalami peningkatan dari 0,50% menjadi 1,03%. Kenaikan harga properti komersial tertinggi terjadi pada segmen convention hall yang diikuti oleh perkantoran dan warehouse complex.

million visits. On the other hand, the commercial property price index for the fourth quarter of 2018 increased from 0.50% in 2017 to 1.03%. The highest increase in commercial property prices occurred in the convention hall segment followed by office and warehouse complex segments.

TINJAUAN KINERJA BISNIS Overview on Business Performance

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menjadi pilihan tepat bagi keluarga yang ingin berlibur dengan nyaman.

Persentase hunian HARRIS Hotel Tuban – Bali pada tahun 2018 mampu mencapai 82,68%, naik dibandingkan pada tahun 2017 sebesar 69,21%, dengan tingkat average room rate pada tahun 2018 sebesar Rp368.958.

Sheraton Bali Kuta ResortSheraton Bali Kuta Resort teletak di lokasi yang sangat strategis yang dilengkapi dengan 203 kamar dengan suite yang luas. Sheraton Bali Kuta Resort – Bali pada tahun 2018 mampu mencatatkan tingkat persentase hunian sebesar 87,99% naik dibandingkan tahun 2017 sebesar 81,30%, dengan tingkat average room rate pada tahun 2018 sebesar Rp2.040.339.

Maison Aurelia, Sanur – BaliMaison Aurelia, Sanur – Bali merupakan salah satu tujuan favorit penginapan di Sanur, Bali. Pada tahun 2018, Maison Aurelia, Sanur – Bali mencatatkan tingkat persentase hunian sebesar 77,6% naik dibanding tahun 2017 sebesar 67,54%, dengan tingkat average room rate pada tahun 2018 sebesar Rp1.002.229.

HARRIS Suites fX Sudirman – JakartaHARRIS Suites fX Sudirman berada di tengah kota Jakarta, dengan akses ke fX Sudirman Mall, Bursa Efek, Senayan Sport Complex, Senayan Golf Course, Plaza Senayan, Senayan City. HARRIS Suites fX Sudirman – Jakarta merupakan tempat sempurna untuk menginap dalam jangka pendek maupun jangka panjang.

Pada tahun 2018, HARRIS Suites fX Sudirman – Jakarta mencatatkan tingkat persentase hunian sebesar 86,74% naik dari tahun 2017 sebesar 81,48%, dengan tingkat average room rate pada tahun 2018 sebesar Rp779.348.

HARRIS Hotel Batam Center – BatamHARRIS Hotel Batam Center – Batam memiliki ciri khas dan keunikan tersendiri dengan menghadap langsung ke arah laut. Hotel ini berjarak satu menit dari terminal Ferry Internasional Batam Centre, dan dapat berjalan kaki ke pusat perbelanjaan dan kantor-kantor pemerintahan. HARRIS Hotel Batam Center – Batam merupakan tempat yang nyaman untuk bekerja dan liburan.

enjoy comfortable experience on vacation.

In 2018, the occupancy rate of HARRIS Hotel Tuban – Bali reached 82.68%, an increase compared to the rate of 2017 recorded at 69.21%, with average room rate of 2018 at Rp368,958.

Sheraton Bali Kuta ResortSheraton Bali Kuta Resort is strategically located in Bali and has 203 rooms featuring extensive suites. In 2018, Sheraton Bali Kuta Resort – Bali managed to record occupancy rate of 87.99%, an increase compared to the rate of 2017 recorded at 81.30%, with average room rate in 2018 amounted to Rp2,040,339.

Maison Aurelia, Sanur – BaliMaison Aurelia, Sanur – Bali is one of the favorite accommodation destinations in Sanur area in Bali. In 2018, the property recorded occupancy rate of 77.6%, an increase compared to the rate of 2017 which was 67.54%, and average room rate of Rp1,002,229.

HARRIS Suites fX Sudirman – JakartaHARRIS Suites fX Sudirman – Jakarta is situated in Jakarta city center with access to fX Sudirman Mall, Stock Exchange, Senayan Sport Complex, Senayan Golf Course, Plaza Senayan, and Senayan City malls. It is a perfect accommodation choice for both short and long stay.

This year, HARRIS Suites fX Sudirman – Jakarta recorded occupancy rate of 86.74% grew from the rate of 2018 recorded at 81.48%. The average room rate of HARRIS Suites fX Sudirman – Jakarta in 2017 was Rp779,348.

HARRIS Hotel Batam Center – BatamHARRIS Hotel Batam Center – Batam offers sea vista. The property can be reached within one minute from the International Ferry Terminal of Batam Centre and is within walking distance to several shopping centers and government offices. With such convenience, HARRIS Hotel Batam Center – Batam is a perfect, cozy accommodation for both business and vacation purposes.


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Pada tahun 2018, HARRIS Hotel Batam Center – Batam mencatatkan tingkat persentase hunian sebesar 77,33% naik dibanding tahun 2017 sebesar 74,30%, dengan tingkat average room rate pada tahun 2018 sebesar Rp472.252.

HARRIS Resort Waterfront BatamPerseroan melalui HARRIS Resort Waterfront Batam menyediakan berbagai fasilitas favorit bagi para pengunjung hotel dengan memberi kehidupan nyata bagi keluarga di wilayah Batam. Pada tahun 2018, HARRIS Resort Waterfront Batam mencatatkan tingkat persentase hunian sebesar 49,85% sedikit lebih rendah dibanding tahun 2017 sebesar 50,79%, dengan tingkat average room rate pada tahun 2018 sebesar Rp425.281.

POP! Hotel Sangaji – YogyakartaPOP! Hotel Sangaji – Yogyakarta merupakan salah satu destinasi hotel bagi para wisatawan. Pada tahun 2018, POP! Hotel Sangaji – Yogyakarta meraih tingkat persentase hunian sebesar 83,17% naik dari tahun 2017 sebesar 71,90%, dengan tingkat average room rate pada tahun 2018 sebesar Rp265.097.

Pusat Perbelanjaan

beachwalk Shopping Center – Balibeachwalk Shopping Center – Bali merupakan pusat perbelanjaan yang menyediakan antara lain meliputi Fashion Apparel & Accessories, Lifestyle & Entertainment, Food & Beverage dan lain-lain. beachwalk Shopping Center – Bali mencatatkan tingkat hunian pada tahun 2018 sebesar 94,53% naik dari tahun 2017 sebesar 88,38%, dengan tarif sewa rata-rata per bulan sebesar Rp297.850.

23 Paskal Shopping Center – Bandung23 Paskal Shopping Center (dikenal 23 Paskal) merupakan pusat perbelanjaan dengan nett leasable area sebesar 40.000 m2 dan terletak di kompleks Paskal Hyper Square, Bandung. Mal ini dibangun pada tahun 2016 dan dibuka pada April 2017.

Pada tahun 2018, 23 Paskal Shopping Center – Bandung mencatatkan tingkat hunian sebesar 97,86% naik dari tahun 2017 sebesar 84,72% dengan tarif sewa rata-rata per bulan sebesar Rp194.499.

In 2018, HARRIS Hotel Batam Center – Batam recorded occupancy rate of 77.33%, increased slightly from that of 2017 which was 74.30%, and average room rate of Rp472,252.

HARRIS Resort Waterfront BatamThrough HARRIS Resort Waterfront Batam, the Company offers an array of favorite facilities with real-life experience for its guests in Batam area. In 2018, HARRIS Resort Waterfront Batam recorded an occupancy rate of 49.85%, demonstrated a slight decrease from the rate of 2017 recorded at 50.79%, and average room rate reaching Rp425,281.

POP! Hotel Sangaji – YogyakartaPOP! Hotel Sangaji – Yogyakarta is one of the accommodation destinations in Yogyakarta. In 2018, the property recorded occupancy rate of 83.17%, an increase compared to that of 2017 at 71.90%. The average room rate of POP! Hotel Sangaji – Yogyakarta in 2018 was Rp265,097

Shopping Centers

beachwalk Shopping Center – Balibeachwalk Shopping Center – Bali is a Shopping center for Fashion Apparel & Accessories, Lifestyle & Entertainment, Food & Beverage, and so on. In 2018, the occupancy rate of beachwalk Shopping Center – Bali reached 94.53%, higher than the rate of 2017 recorded at 88.38%, with average lease rate per month reaching Rp297,850.

23 Paskal Shopping Center – Bandung23 Paskal Shopping center (renowned as 23 Paskal) is a shopping center situated in the Paskal Hyper Square complex, Bandung, with total net leasable area of 40,000 sqm. This mall was developed in 2016 and commenced its operations in April 2017.

In 2018, 23 Paskal Shopping Center – Bandung recorded an occupancy rate of 97.86%, an increase compared to the rate recorded in 2017 at 84.72% and average lease rate per month of Rp194,499.

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Park23 Entertainment Center – BaliPark23 Entertainment Center – Bali merupakan pusat perbelanjaan yang menyajikan kombinasi berbagai tenant yang terdiri dari restoran, pakaian olahraga yang mengusung label-label internasional, Cinema, serta entertainment center untuk keluarga. Pada tahun 2018, Park23 Entertainment Center – Bali mencatatkan tingkat hunian sebesar 52,77% naik dari tahun 2017 sebesar 66,57%, dengan tarif sewa rata-rata per m2 per bulan sebesar Rp78.611.

Cikini Gold Center – JakartaCikini Gold Center – Jakarta, merupakan salah satu tempat penjualan emas terbesar di Indonesia. Pada tahun 2018, Cikini Gold Center – Jakarta mencatatkan tingkat hunian sebesar 57,83% turun dari tahun 2017 sebesar 2,78%, dengan tarif jual beli rata-rata sebesar Rp59.134.782

Pendapatan per Segmen UsahaPada tahun 2018, pendapatan per masing-masing segmen usaha Perseroan sebagai berikut:

Park23 Entertainment Center – BaliPark23 Entertainment Center – Bali is a shopping center that offers a wide array of tenants, consisting, among others, restaurants, sports apparels from international brands, Cinema and entertainment center for families. In 2018, Park23 Entertainment Center – Bali recorded an occupancy rate of 52.77%, an increase from 66.57% recorded in 2017, and average lease rate per square-meter per month at Rp78,611.

Cikini Gold Center – JakartaCikini Gold Center – Jakarta is one of the largest gold markets in Indonesia. In 2018, Cikini Gold Center – Jakarta’s occupancy rate reached 57.83%, showing a decrease of 2.78% compared to the rate of 2017, with average saleable rate amounted to Rp59,134,782.

Revenues per Business SegmentIn 2018, the revenues per business segment of the Company are described in the following table:

DESKRIPSIDescription 2018 2017 PERUBAHAN

ChangePERSENTASE

Percentage

Hotel 32 1 .184.729.325 303.065.120.656 18.119.608.669 5,98%

Pusat PerbelanjaanShopping Center 374.651.704.396 292.626.924.068 82.024.780.328 28,03%

ApartemenApartment 70.968.843.941 - 70.968.843.941 100%

JasaServices

3.593.074.270 2.046.680.955 1.546.393.315 75,56%

PendapatanRevenue 770.398.351.932 597.738.725.679 172.659.626.253 28,89%

dalam Rupiah penuh | in full amount of Rupiah

Profitabil itas

Profitabilitas merupakan kemampuan Perseroan untuk menghasilkan Laba dengan memaksimalkan sumber daya. Profitabilitas juga menjadi ukuran untuk menilai sejauh mana perusahaan mampu menghasilkan Laba pada tingkat yang dapat diterima. Kemampuan ini digambarkan dengan Rasio Profitabilitas. Informasi mengenai Profitabilitas Usaha Perseroan dalam 2 (dua) tahun terakhir adalah sebagai berikut:

Profitabil ity

Profitability describes the Company’s capability to generate Income by optimizing its resources. It serves as a tool to measure the extent to which the Company is able to generate Income at an acceptable level. This capability is reflected on the Ratio of Profitability. The following table describes the Company’s Profitability in the last 2 (two) years:


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DESKRIPSIDescription 2018 2017

Margin Laba Bersih Net Profit Margin 15,95% 24,74%

Imbal Hasil Aset Return on Assets 1,76% 2,22%

Imbal Hasil Ekuitas Return on Equity 2,82% 3,49%

Laba per Saham Earnings per Share

6,82 9,05

Strategi Pemasaran

Sepanjang tahun 2018, Perseroan telah mengimplementasikan berbagai strategi pemasaran yang dilakukan secara berkelanjutan melalui penyelenggaraan promosi baik di media cetak maupun event-event lainnya. Strategi pemasaran Perseroan ditujukan untuk menghasilkan kinerja terbaik dan berkesinambungan serta menopang fokus Perseroan pada iconic commercial property.

Pada masa mendatang, Perseroan juga melakukan ekspansi ke wilayah-wilayah baru dengan fokus bisnis kepada pengembangan mixed-use properties yang terdiri dari hotel, pusat perbelanjaan, dan apartemen.

Pangsa Pasar

Pasar utama Perseroan tersebar di berbagai wilayah di Indonesia yang menjadi pusat bisnis dan tujuan wisata, seperti Bali, Batam, Jakarta, Yogyakarta, Bandung, Manado dan Balikpapan, dengan Pendapatan Usaha pada tahun 2018 sebesar Rp770,40 miliar naik Rp172,66 miliar atau tumbuh 28,89% dibandingkan pada tahun 2017 yang tercatat sebesar Rp597,74 miliar.

Marketing Strategy

Throughout 2018, the Company has continuously carried out various marketing strategies through the implementation of promotion activities, both in printed media and other events. The Company’s marketing strategy is aimed at producing the best and sustainable performance and supporting the Company’s focus on the iconic commercial property sector.

In the future, the Company will also expand into new areas with a business focus on the development of mixed-use properties, consisting of hotels, shopping centers, and apartments.

Market share

The Company’s primary market is spread across various regions in Indonesia which become business centers and tourist destinations, such as Bali, Batam, Jakarta, Yogyakarta, Bandung, Manado, and Balikpapan, with Revenues amounted to Rp770.40 billion in 2018, grew by Rp172.66 billion or 28.89% compared to the Revenues of 2017 booked at Rp597,74 billion.

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ASPEK PEMASARANMarketing Aspect

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POSISI KEUANGAN Financial Position

ANALISIS KINERJA KEUANGAN Analysis on Financial Performance

Tabel Posisi Keuangan | Table of Financial Positiondalam Rupiah penuh | in full amount of Rupiah

DESKRIPSIDescription 2018 2017* PERUBAHAN

Change %

Aset Lancar Current Assets 755.359.080.833 564.294.637.344 191.064.443.489 33,86

Kas dan Setara Kas Cash and Cash Equivalents 582.976.697.117 418.711.401.227 164.265.295.890 39,23

Aset Lancar Lainnya Other Current Assets - 3.762.328.832 (3.762.328.832) (100)

Piutang Usaha Trade Receivables 33.854.983.028 35.746.686.831 (1.891.703.803) (5,29)

Piutang Non Usaha Non-Trade Receivables 23.434.796.232 19.202.187.273 4.232.608.959 22,04

PersediaanInventories 49.989.597.422 38.401.944.499 11.587.652.923 30,17

Pajak Dibayar di MukaPrepaid Taxes 25.670.438.507 33.376.524.434 (7.706.085.927) (23,09)

Beban Dibayar di Muka dan Uang MukaPrepaid Expenses and Advances

39.432.568.527 15.093.564.248 24.339.004.279 161,25

Analisis dan pembahasan kinerja keuangan berikut disusun berdasarkan informasi yang diperoleh dari Laporan Keuangan Perseroan yang berakhir pada tanggal 31 Desember 2018 serta 31 Desember 2017, dan telah diaudit oleh Kantor Akuntan Publik Tanubrata Sutanto Fahmi Bambang & Rekan yang ditunjuk Perseroan. Laporan Keuangan Perseroan yang berakhir pada periode 31 Desember 2018 telah memperoleh pendapat wajar tanpa modifikasian.

The following analysis and discussion on financial performance are composed based on the information otained from the Company’s Financial Statements for the years ended on 31 December 2018 and 2017, which have been audited by Public Accounting Firm Tanubrata Sutanto Fahmi Bambang & Rekan appointed by the Company. The Company’s Financial Statements for the period ended on 31 December 2018 have obtained unmodified opinion.


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Change %

Aset Tidak LancarNon-Current Assets

6.209.375.759.946 6.093.843.379.317 115.532.380.629 1,90

Investasi SahamInvestment in Shares 3.749.279.316.155 3.689.251.659.303 60.027.656.852 1,63

Aset Pajak TangguhanDeferred Tax Assets 49.622.510.926 56.617.385.802 (6.994.874.876) (12,35)

Aset TetapProperty and Equipment 1.565.556.730.495 1.472.825.485.330 92.731.245.165 6,30

Properti InvestasiInvestment Properties 752.912.908.796 762.486.736.161 (9.573.827.365) (1,26)

Hak Sewa Jangka PanjangLong-Term Lease Rights

56.920.595.939 59.559.142.277 (2.638.546.338) (4,43)

Deposito yang Dibatasi PenggunaannyaRestricted Time Deposits

11.969.632.574 25.328.812.428 (13.359.179.854) (52,74)

Aset Tidak Lancar LainOther Non-Current Assets 23.114.065.061 27.774.158.016 (4.660.092.955) (16,78)

Total AsetTotal Assets

6.964.734.840.779 6.658.138.016.661 306.596.824.118 4,60

Liabilitas Jangka PendekCurrent Liabilities 732.693.107.709 787.645.840.440 (54.952.732.731) (6,98)

Utang UsahaTrade Payables 16.574.687.748 15.623.738.567 950.949.181 6,09

Utang Non-UsahaNon-Trade Payables 439.200.577.344 558.097.370.196 (118.896.792.852) (121,02)

Utang PajakTaxes Payable 12.299.074.726 12.087.113.637 211.961.089 1,75

Beban AkrualAccruals 42.790.837.828 32.219.676.585 10.571.161.243 32,81

Uang Muka Pelanggan dan Pendapatan Diterima di Muka Bagian yang Direalisasikan dalam Satu TahunAdvance from Customers and Unearned Revenues – Realized within One Year

172.531.548.207 161.196.493.625 11.335.054.582 7,03

Liabilitas Jangka Panjang yang Jatuh Tempo dalam Satu TahunCurrent Maturities of Long-Term Liabilities

49.296.381.856 8.421.447.830 40.874.934.026 485,37

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Change %

Liabilitas Jangka PanjangNon-Current Liabilities 1.875.681.563.157 1.635.148.701.087 240.532.862.070 14,71

Uang Muka Pelanggan dan Pendapatan Diterima di Muka Setelah Dikurangi Bagian yang Direalisasikan Dalam Satu Tahun Advance from Customers and Unearned Revenues - Net of Realization within One Year

126.516.202.470 101.141.614.556 25.374.587.914 25,09

Jaminan PelangganTenants’ Deposit 49.085.923.800 47.958.703.925 1.127.219.875 2,35

Liabilitas Imbalan Pasca-KerjaPost-Employment Benefit Liabilities

14.804.014.387 21.017.996.822 (6.213.982.435) (29,57)

Liabilitas Jangka Panjang – Setelah Dikurangi Bagian Yang Jatuh Tempo Dalam Satu Tahun Long-Term Liabilities – Net of Current Maturities

1.685.275.422.500 1.465.030.385.784 220.245.036.716 15,03

Total LiabilitasTotal Liabilities

2.608.374.670.866 2.422.794.541.527 185.580.129.339 7,66

Total Ekuitas Total Equity

4.356.360.169.913 4.235.343.475.134 121.016.694.779 2,86

Modal SahamShare Capital 1.118.197.173.200 1.118.197.173.200 - 0,00

Tambahan Modal DisetorAdditional Paid-In Capital 1.962.955.201.150 1.965.683.784.934 (2.728.583.784) (0,14)

Selisih Nilai Transaksi Ekuitas Dengan Kepentingan Non PengendaliDifference in Value of Equity Transaction with Non-Controlling Interests

(10.786.251.345) (10.786.251.345) - 0,00

Ekuitas Entitas Anak yang Berasal dari Penyajian Kembali Laporan KeuanganEquity in subsidiary resulting from restatement of financial statement

- 245.525.308 (245.525.308) (100)

Saldo LabaRetained Earnings 672.049.439.896 606.594.832.416 65.454.607.480 10,79


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Total Aset

Pada tahun 2018, Total Aset Perseroan tercatat sebesar Rp6,96 triliun, tumbuh Rp306,59 miliar atau 4,60% dibandingkan pada tahun 2017 sebesar Rp6,66 triliun. Komposisi aset Perseroan terdiri dari 10,85% Aset Lancar dan 89,15% Aset Tidak Lancar.

Aset Lancar

Aset Lancar Perseroan pada tahun 2018 tercatat sebesar Rp755,36 miliar naik Rp191,06 miliar atau 33,86% dibandingkan pada tahun 2017 sebesar Rp564,29 miliar. Kenaikan ini terutama disebabkan oleh meningkatnya nilai Kas & Setara Kas, Persediaan, dan Beban Dibayar di Muka dan Uang Muka.• Kas dan Setara Kas Perseroan tercatat sebesar

Rp582,97 miliar naik Rp164,26 miliar atau 39,23% dibandingkan pada tahun sebelumnya sebesar Rp418,71 miliar. Kenaikan ini terutama disebabkan oleh meningkatnya jumlah simpanan di deposito berjangka.

• Persediaan tercatat sebesar Rp49,98 miliar naik Rp11,58 miliar atau 30,17% dibandingkan pada tahun sebelumnya sebesar Rp38,40 miliar. Kenaikan ini terutama disebabkan oleh meningkatnya Persediaan aset real estate yang masih dalam pembangunan.

• Beban Dibayar di Muka dan Uang Muka tercatat sebesar Rp39,43 miliar naik Rp24,33 miliar atau 161,25% dibandingkan pada tahun sebelumnya sebesar Rp15,09 miliar. Kenaikan ini terutama disebabkan oleh meningkatnya Uang Muka hak atas tanah di Entitas Anak.

Total Assets

In 2018, Total Assets of the Company were recorded at Rp6.96 trillion, grew by Rp306.59 billion or 4.60% compared to the total assets of 2017 recorded at Rp6.66 trillion. The Company’s assets comprised 10.85% Current Assets and 89.15% Non-Current Assets.

Current Assets

Current Assets of the Company amounted to Rp755.36 billion, grew by Rp191.06 billion or 33.86%, from Rp564.29 billion recorded in 2017. This growth was mainly caused by the rising Cash and Cash Equivalents, Inventories, and Prepaid Expenses and Advances.

• Cash and Cash Equivalents of the Company reached Rp582.97 billion in 2018, increased by Rp164.26 billion or 39.23%, from Rp418.71 billion recorded in the previous year due to the increase in time deposits.

• Inventories in 2018 amounted to Rp49.98 billion, grew by Rp11.58 billion or 30.17% from Rp38.40 billion recorded in the previous year. This increase was mainly contributed by the rising Inventories of real estate assets in construction.

• Prepaid Expenses and Advances in 2018 reached Rp39.43 billion, increased by Rp24.33 billion or 161.25% from Rp15.09 billion recorded in the previous year. Such growth was mainly caused by the rising Advances for land rights in a Subsidiary.

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Change %

Jumlah Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas IndukTotal Equity Attributable to Owners of the Parent

3.742.415.562.901 3.679.935.064.513 62.480.498.388 1,70%

Kepentingan Non PengendaliNon-Controlling Interests

613.944.607.012 555.408.410.621 58.536.196.391 10,54%


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Aset Tidak Lancar

Aset Tidak Lancar Perseroan pada tahun 2018 tercatat tumbuh sebesar Rp115,53 miliar atau 1,90% dibandingkan pada tahun 2017 sebesar Rp6,09 triliun. Kenaikan ini terutama disebabkan oleh naiknya nilai investasi pada Entitas Asosiasi dan Aset Tetap.• Investasi Saham tercatat sebesar Rp3,74 triliun

naik Rp60,02 miliar atau 1,63% dibandingkan pada tahun sebelumnya sebesar Rp3,68 triliun. Kenaikan ini terutama disebabkan oleh peningkatan Laba Entitas Asosiasi di tahun 2018.

• Aset Tetap mengalami kenaikan Rp92,73 miliar atau sebesar 6,30% menjadi Rp1,56 triliun dibandingkan pada tahun sebelumnya sebesar Rp1,47 triliun. Kenaikan ini terutama disebabkan oleh akuisisi Entitas Anak PT Rifai Maju Properti.

Total Liabil itas

Pada tahun 2018, Total Liabilitas tercatat sebesar Rp2,60 triliun naik Rp185,58 miliar atau 7,66% dibandingkan pada tahun 2017 sebesar Rp2,42 triliun. Komposisi Total Liabilitas terdiri dari 28,09% dari Liabilitas Jangka Pendek dan 71,91% merupakan Liabilitas Jangka Panjang.

Liabilitas Jangka Pendek

Liabilitas Jangka Pendek pada tahun 2018 tercatat sebesar Rp732,69 miliar turun Rp54,95 miliar atau 6,98% dibandingkan pada tahun 2017 sebesar Rp787,64 miliar. Penurunan Liabilitas Jangka Pendek ini terutama disebabkan oleh turunnya Utang Non Usaha dari pihak ketiga.• Utang Non Usaha mengalami penurunan

sebesar Rp118,89 miliar atau sebesar 121,02% menjadi Rp439,20 miliar dibandingkan 2017 sebesar Rp558,09 miliar. Penurunan ini terutama disebabkan oleh pembayaran Utang kepada Unipac Holding Limited.

Liabilitas Jangka Panjang

Pada tahun 2018, Perseroan mencatat Liabilitas Jangka Panjang sebesar Rp1,87 triliun naik Rp240,53 miliar atau 14,71% dibandingkan pada tahun 2017

Non-Current Assets

The Non-Current Assets of the Company in 2018 grew by Rp115.53 billion or 1.90%, from Rp6.09 trillion booked in 2017. Such growth was due to the increase in the value of investments in Associates and in Property and Equipment.

• The post of Investment in Shares increased by Rp60.02 billion or 1.63%, from Rp3.68 trillion recorded in 2017 to Rp3.74 trillion. This was particularly caused by an increase in Profit from Associates in 2018.

• Property and Equipment of the Company in 2018 rose by Rp92.73 billion or 6.30%, from Rp1.47 trillion recorded in the previous year to Rp1.56 trillion. This increase was particularly caused by the acquisition of PT Rifai Maju Properti, a Subsidiary.

Total Liabil it ies

The Company recorded its Total Liabilities amounting to Rp2.60 trillion in 2018, up Rp185.58 billion or 7.66% compared to the amount of Total Liabilities in 2017 at Rp2.42 trillion. Total Liabilities of the Company in 2018 comprised 28.09% Current Liabilities and 71.91% Non-Current Liabilities.

Current Liabilit ies

In 2018, Current Liabilities of the Company amounted to Rp732.69 billion, decreased by Rp54.95 billion or 6.98% from the amount realized in 2017 at Rp787.65 billion. This decrease was mainly contributed by the declining Non-Trade Payables of third parties.

• Non-Trade Payables declined by Rp118.89 billion or 121.02% in 2018, from Rp558.09 billion recorded in 2017 to Rp439.20 billion Such decline was caused by the payment of Payables to Unipac Holding Limited.

Non-Current Liabilit ies

The post of Non-Current Liabilities of the Company in 2018 reached Rp1.87 trillion, grew by Rp240.53 billion or 14.71% from Rp1.63 trillion recorded in


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sebesar Rp1,63 triliun. Peningkatan Liabilitas Jangka Panjang ini terutama disebabkan oleh meningkatnya Utang Bank.• Utang Bank – setelah dikurangi bagian yang

jatuh tempo dalam satu tahun pada tahun 2018 tercatat sebesar Rp1,68 triliun naik Rp220,23 miliar atau 15,04% dibandingkan pada tahun 2017 sebesar Rp1,46 triliun. Peningkatan Utang Bank – setelah dikurangi bagian yang jatuh tempo dalam satu tahun ini terutama disebabkan oleh pencairan pinjaman untuk proyek-proyek baru Entitas Anak perusahaan.

Total Ekuitas

Pada tahun 2018, Total Ekuitas Perseroan mencapai Rp4,35 triliun, tumbuh Rp121,01 miliar atau 2,86% dibandingkan pada tahun 2017 sebesar Rp4,23 triliun. Pertumbuhan ini berasal dari peningkatan saldo Laba Tahun Berjalan.• Saldo Laba tercatat sebesar Rp672,04 miliar

naik Rp65,45 miliar atau 10,79% dibandingkan pada tahun 2017 sebesar Rp606,59 miliar. Peningkatan ini terutama disebabkan oleh Laba Tahun Berjalan.

2017. Such growth was mainly attributable to the increase in Bank Loans.

• Bank Loans – net of current maturities in 2018 amounted to Rp1.68 trillion, grew by Rp220.23 billion or 15.04% compared to the amount recorded in 2017 at Rp1.46 trillion. Such increase in the post of Bank Loans – net of current maturities was particularly caused by the distribution of loans for new projects of the Company’s Subsidiaries.

Total Equity

In 2018, the Company’s Total Equity reached Rp4.35 trillion, grew by Rp121.01 billion or 2.86% compared to the Total Equity of the previous year booked at Rp4.23 trillion. This growth was due to the increase in retained Earnings for the Year.• Retained Earnings in 2018 amounted to

Rp672.04 billion, increased by Rp65.45 billion or 10.79% compared to that of 2017 recorded at Rp606.59 billion. This increase was mainly due to the rising Profit for the Year.

LABA RUGIProfit or Loss

Tabel Laba Rugi | Table of Financial Positiondalam Rupiah penuh | in full amount of Rupiah


Change %

Pendapatan Revenues 770.398.351.932 597.738.725.679 172.659.626.253 28,89

Beban Pokok PendapatanCost of Revenues (275.968.493.160) (181.576.799.330) (94.391.693.830) 51,98

Laba BrutoGross Profit 494.429.858.772 416.161.926.349 78.267.932.423 18,81

Laba UsahaProfit from Operations 150.933.825.018 97.433.621.621 53.500.203.397 54,91

Laba Sebelum PajakProfit Before Tax 129.860.412.347 117.298.193.959 12.562.218.388 10,71

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Change %

Manfaat (Beban) Pajak PenghasilanIncome Tax Benefit (Expense) (6.966.143.093) 30.597.924.581 (37.564.067.674) (122,77)

Laba Tahun BerjalanProfit for the Year 122.894.269.254 147.896.118.540 (25.001.849.286) (16,91)

Laba Tahun Berjalan yang dapat Diatribusikan kepada:Profit for the Year Attributable to:

Pemilik Entitas IndukOwners of the Parent 76.275.110.146 101.202.272.170 (24.927.162.024) (24,63)

Kepentingan Non PengendaliNon-Controlling Interests 46.619.159.108 46.693.846.370 (74.687.262) (0,16)

JumlahTotal 122.894.269.254 147.896.118.540 (25.001.849.286) (16,91)

Laba Komprehensif Tahun Berjalan yang dapat Diatribusikan kepada :Comprehensive Income for the Year Attributable to:

Pemilik Entitas IndukOwners of the Parent 82.227.565.078 98.208.548.813 (15.980.983.735) (16,27)

Kepentingan Non PengendaliNon-Controlling Interests 47.318.288.773 45.773.151.553 1.545.137.220 3,38

JumlahTotal 129.545.853.851 143.981.700.366 (14.435.846.515) (10,03)

Laba per SahamEarnings per Share 6,82 9,05 (2,23) (24,63)

Pendapatan

Pada tahun 2018, Perseroan meraih Pendapatan sebesar Rp770,39 miliar naik Rp172,65 miliar atau tumbuh 28,89% dibandingkan pada tahun 2017 yang tercatat sebesar Rp597,74 miliar. Kenaikan ini terutama disebabkan oleh meningkatnya kinerja usaha pusat perbelanjaan yang sudah beroperasional penuh selama tahun 2018 dan segmen apartemen.

Beban Pokok Pendapatan

Pada tahun 2018, Beban Pokok Pendapatan mengalami kenaikan dan tercatat sebesar Rp275,97 miliar naik Rp94,39 miliar atau 51,98% dibandingkan pada tahun 2017 yang tercatat sebesar Rp181,58 miliar. Kenaikan ini terutama disebabkan oleh meningkatnya kinerja usaha pusat perbelanjaan yang sudah beroperasional penuh selama tahun 2018 dan segmen apartemen.

Revenues

Over the course of 2018, the Company recorded Revenues amounting to Rp770.39 billion, grew Rp172.65 billion or 28.89% compared to that of 2016 recorded at Rp597.74 billion. The increase was mainly due to the rising business performance of shopping centers which have fully operated in 2018 and of apartment.

Cost of Revenues

The Company’s Cost of Revenues increased by Rp94.39 billion or 51.98% in 2018, from Rp181.58 billion posted in 2017 to Rp275.97 billion. This increase was mainly due to the rising business performance of shopping centers which have fully operated in 2018 and of apartments.



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Laba Bruto

Pada tahun 2018, Laba Bruto Perseroan tercatat sebesar Rp494,42 miliar naik Rp78,26 miliar atau 18,81% dibandingkan pada tahun 2017 yang tercatat sebesar Rp416,16 miliar. Hal ini terutama disebabkan oleh meningkatnya Pendapatan pada segmen usaha pusat perbelanjaan dan apartemen.

Laba Usaha

Laba Usaha Perseroan pada tahun 2018 tercatat sebesar Rp150,93 miliar naik Rp53,50 miliar atau 54,91% dibandingkan pada tahun 2017 yang tercatat sebesar Rp97,43 miliar. Hal ini terutama disebabkan oleh meningkatnya Laba Kotor dan Pendapatan Operasional Lainnya.

Laba Sebelum Pajak

Pada tahun 2018, Perseroan meraih Laba Sebelum Pajak sebesar Rp129,86 miliar naik Rp12,56 miliar atau 10,71% dibandingkan pada tahun 2017 yang tercatat sebesar Rp117,29 miliar. Hal ini terutama disebabkan oleh penjualan entitas asosiasi.

Manfaat (Beban) Pajak Penghasilan

Pada tahun 2018, Perseroan mencatatkan Beban Pajak Penghasilan sebesar Rp6,96 miliar, sedangkan pada tahun 2017 Perseroan mencatatkan Manfaat Pajak Penghasilan sebesar Rp30,59 miliar. Hal ini terutama disebabkan oleh menurunnya Pajak Tangguhan Perseroan dan entitas anak.

Laba Tahun Berjalan

Melalui berbagai penerapan kebijakan strategis pada tahun 2018, serta fokus Perseroan untuk melakukan penguatan posisi sebagai yang terdepan dalam iconic commercial property developer, mampu mencapai hasil yang memuaskan. Laba Tahun Berjalan Perseroan pada tahun 2018 tercatat sebesar Rp122,89 miliar turun Rp25 miliar atau sedikit lebih rendah sebesar 16,91% dibandingkan pada tahun 2017 yang tercatat sebesar Rp147,89 miliar. Hal ini disebabkan karena Beban Keuangan dan Rugi Kurs.

Gross Profit

Gross Profit of the Company in 2018 was recorded at Rp494.42 billion, up 18.81% or Rp78.26 billion from the gross profit of 2017 recorded at Rp416.16 billion. This was particularly caused by the increase in Revenues from shopping center and apartment segment in 2018.

Profit from Operations

Profit from Operations in 2018 amounted to Rp150.93 billion, grew by Rp53.50 billion or 54.91% from that of 2017 recorded at Rp97.43 billion. Such growth was due to the increase in Gross Profit and Other Operating Income.

Profit Before Tax

In 2018, the Company’s Profit Before Tax was realized at Rp129.86 billion, increased by Rp12.56 billion or 10.71% compared to the amount recorded in the previous year at Rp117.29 billion. This was caused by the sales of associates.

Income Tax Benefit (Expense)

In 2018, the Company recorded Income Tax Expense amounting to Rp6.96 billion while in 2017, the Company recorded Income Tax Benefit amounting to Rp30.59 billion. This was due to the declining Deferred Tax of the Company and subsidiaries.

Profit for the Year

Through the implementation of a number of strategic policies in 2018, as well as Company’s focus on the efforts to strengthen its position as the leading iconic commercial property developer, the Company managed to record a satisfying achievement in 2018. The post of Profit for the Year amounted to Rp122.89 billion, a decrease of Rp25 billion or 16.91% compared to the amount recorded in 2017 at Rp147.89 billion. This was due to the Finance Cost and Loss on Foreign Exchange.

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Laba Komprehensif Tahun Berjalan

Pada periode tahun buku yang berakhir tanggal 31 Desember 2018, Perseroan berhasil meraih Laba Komprehensif sebesar Rp129,54 miliar lebih rendah 10,03% sebesar Rp14,44 miliar atau dibandingkan pada periode 31 Desember 2017 sebesar Rp143,98 miliar.

Comprehensive Income for the Year

For the fiscal year period ended on 31 December 2018, the Company recorded Comprehensive Income amounting to Rp129.54 billion, decreased by 10.03% or Rp14.44 billion from Rp143.98 billion recorded on 31 December 2017.

ARUS KASCash Flows

Tabel Arus Kas | Table of Cash Flowsdalam Rupiah penuh | in full amount of Rupiah


Change %

Arus Kas dari Aktivitas Operasi Cash Flows from Operating Activities

193.103.048.142 213.416.840.911 (20.313.792.769) (9,51)

Arus Kas untuk Aktivitas InvestasiCash Flows Used in Investing Activities

(26.487.629.039) (604.864.417.553) 578.376.788.514 95,62

Arus Kas dari Aktivitas PendanaanCash Flows from Financing Activities

55.533.819.484 566.906.561.863 (511.372.742.379) (90,20)

Kenaikan (Penurunan) Bersih Kas dan Setara KasNet Increase (Decrease) in Cash and Cash Equivalents

222.149.238.587 175.458.985.221 46.690.253.366 26,61

Kas dan Setara Kas Awal TahunCash and Cash Equivalents at Beginning of Year

418.711.401.227 250.967.228.835 167.744.181.392 66,83

Pengaruh Perubahan Kurs Mata Uang Asing Terhadap Kas dan Setara KasEffect of Foreign Exchange Rate Changes on Cash and Cash Equivalents

(57.883.942.697) (7.714.812.829) (50.169.129.868) (650,29)

Kas dan Setara Kas Akhir TahunCash and Cash Equivalents at End of Year

582.976.697.117 418.711.401.227 164.265.295.890 39,23



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Arus Kas dari Aktivitas Operasi

Perseroan mencatatkan Arus Kas dari aktivitas operasi pada tahun 2018 sebesar Rp193,10 miliar, turun Rp20,31 miliar atau 9,52% dibandingkan Arus Kas dari aktivitas operasi pada tahun 2017 sebesar Rp213,41 miliar. Penurunan ini terjadi seiring dengan meningkatnya Beban Keuangan.

Arus Kas untuk Aktivitas Investasi

Pada tahun 2018, Perseroan mencatatkan Arus Kas untuk aktivitas investasi sebesar Rp26,48 miliar, turun 95,62% atau Rp578,37 miliar dibandingkan pada tahun 2017 sebesar Rp604,86 miliar. Penurunan ini terutama disebabkan oleh investasi pada entitas asosiasi pada tahun 2017.

Arus Kas dari Aktivitas Pendanaan

Pada tahun 2018, Arus Kas dari aktivitas pendanaan Perseroan tercatat sebesar Rp55,53 miliar sedangkan pada tahun 2017 sebesar Rp566,90 miliar. Penurunan Arus Kas dari aktivitas pendanaan terutama disebabkan oleh besarnya penerimaan Utang Bank.

Kenaikan Kas Bersih & Setara Kas

Kas dan Setara Kas akhir tahun 2018 tercatat sebesar Rp222,14 miliar, sedangkan pada tahun 2017 sebesar Rp175,45 miliar. Kenaikan Kas dan Setara Kas akhir tahun terutama disebabkan oleh penerimaan kas dari aktivitas operasi.

Cash Flows from Operating Activities

The Company recorded Cash Flows from operating activities in 2018 amounting to Rp193.10 billion, declined by Rp20.31 billion or 9.52% from the amount of Cash Flows from operating activities recorded in 2017 at Rp213.41 billion. Such decline occurred in line with Finance Cost.

Cash Flows used in Investing Activities

In 2018, the Company recorded Cash Flows used in investing activities amounting to Rp26.498 billion, declined significantly by 95,62% Rp578.37 billion compared to the amount realized in 2017 at Rp604.86 billion. Such decline was caused by investment in associates in 2017.

Cash Flows from Financing Activities

The amount of Cash Flows from financing activities in 2018 was recorded at Rp55.53 billion, while in 2017, the amount was Rp566,90 billion. Such decline was mainly caused by the amount of drawdowns Bank Loans.

Net Income Cash & Cash Equivalents

The Company’s cash and cash equivalents at the end of 2018 amounted to Rp222.14 billion, while in 2017 the amount was Rp175.45 billion. Such increase was primarily caused by the receipts of cash from operating activities.

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Perseroan menggunakan perhitungan Rasio Likuiditas dan Solvabilitas dalam mengukur kemampuan Perseroan membayar Utang. Rasio Likuiditas mengukur kemampuan Perseroan dalam membayar Utang Jangka Pendek, sedangkan kemampuan dalam memenuhi Kewajiban Jangka Panjang diukur menggunakan Rasio Solvabilitas.

Rasio Likuiditas

Rasio Likuiditas merupakan tingkat kemampuan Perusahaan dalam memenuhi seluruh Kewajiban Jangka Pendek yang diukur dengan perbandingan antara Aset Lancar dengan Liabilitas Jangka Pendek. Per 31 Desember 2018 dan 2017, Rasio Likuiditas Perseroan masing-masing adalah sebesar 1,03 dan 0,72. Aset Lancar Perusahaan pada tahun 2018 tercatat Rp755,35 miliar, sedangkan Liabilitas Jangka Pendek tercatat sebesar Rp564,29 miliar.

The Company uses the Liquidity and Solvability Ratios to calculate its capability to pay Debts. The Liquidity Ratio measures the Company’s capability to pay Short-Term Debt, while the Solvability Ratio is used to measure its capability to meet Long-Term Liabilities.

Liquidity Ratio

Liquidity Ratio shows the Company’s capability to meet all of its Current Liabilities measured by comparing its Current Assets with Current Liabilities. As of 31 December, 2018 and 2017, the Company’s Liquidity Ratios were 1.03 and 0.72, respectively. The Company’s Current Assets in 2018 were booked at Rp755.35 billion while its Current Liabilities were Rp564.29 billion.

KEMAMPUAN MEMBAYAR UTANG Solvency

INFORMASI KEUANGAN MATERIAL LAINNYA Other Material Financial Information

URAIAN Description 2018 2017*

Aset LancarCurrent Assets 755.359.080.833 564.294.637.344

Liabilitas Jangka PendekCurrent Liabilities 732.693.107.709 787.645.840.440

Rasio LikuiditasLiquidity Ratio 1,03 0,72


Rasio Solvabilitas

Rasio Solvabilitas menunjukkan kemampuan Perusahaan dan Entitas Anak untuk melunasi seluruh kewajibannya yang diukur dengan

Solvability Ratio

The Solvability Ratio represents the capability of the Company and its Subsidiaries to settle all liabilities. This ratio is measured by comparing



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URAIANDescription 2018 2017*

Total Aset Total Assets 6.964.734.840.779 6.658.138.016.661

Total Ekuitas Total Equity 4.356.360.169.913 4.235.343.475.134

Rasio Utang terhadap Ekuitas Debt to Equity Ratio 0,60 0,57

Rasio Utang terhadap Aset The Debt to Asset Ratio 0,37 0,36

TINGKAT KOLEKTIBILITAS PIUTANG Receivables Collectabil i ty Rate

Dalam mengukur tingkat Kolektibilitas Piutang, Perseroan menggunakan perhitungan Rasio Perputaran Piutang. Rasio Perputaran Piutang Perseroan untuk tahun 2018 adalah 16 hari, sedangkan pada tahun 2017 adalah selama 18 hari. Hal ini masih sesuai dengan kebijakan Perseroan yaitu 1-30 hari.

To measure its Receivables Collectability rate, the Company uses the Receivable Turnover Ratio. This year, the Company recorded the Receivable Turnover Ratio to reach 16 days, while in 2017, the ratio was recorded at 18 days. These rates were still within the threshold set in the Company’s policy, namely 1-30 days.

E

membandingkan Jumlah Liabilitas Konsolidasi terhadap Jumlah Ekuitas Konsolidasi dan Jumlah Liabilitas Konsolidasi terhadap Jumlah Aset Konsolidasi.

the Total Consolidated Amount of Liabilities to Total Consolidated Amount of Equity, and the Total Consolidated Amount of Liabilities to Total Consolidated Amount of Assets.

Pada tahun 2018, Rasio Utang terhadap Ekuitas Perseroan tercatat sebesar 0,60 sedangkan pada tahun 2017 sebesar 0,57. Dengan demikian, nilai Rasio Utang terhadap Ekuitas berada di bawah 2, yang menunjukkan komitmen pemegang saham yang terus berusaha mengakomodir kebutuhan permodalan Perseroan melalui proporsi pembiayaan utang dan saham yang optimal.

Rasio Utang terhadap Aset pada tahun 2018 tercatat sebesar 0,37 sedangan pada tahun 2017 sebesar 0,36. Selama dua tahun terakhir, terlihat Perseroan memiliki Rasio Utang terhadap Aset yang baik dimana nilai rasio di bawah 0,5 menunjukkan Perseroan memiliki cukup aset untuk dapat menutupi Utang Jangka Panjang.

In 2017, the Debt to Equity Ratio of the Company reached 0.60, while debt to equity ratio of 2017 was 0.57. As the value of Debt to Equity Ratio was below 2, it showed the commitment of shareholders to continuously striving to accommodate the Company’s capital needs through optimizing the proportion of debt financing and shares.

The Debt to Asset Ratio in 2018 was 0.37 whereas in 2017, the debt to asset ratio was 0.36. In regard to the ratios recorded at those years, the Company was observed to have a good Debt to Asset Ratio, in which the ratio value below 0.5 indicated that the Company had sufficient assets to cover its Long-Term Debt.


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STRUKTUR MODALCapital Structure

Dasar Pemilihan dan Kebijakan Manajemen atas Struktur Modal

Dalam pengelolaan struktur modal, Perusahaan beserta anak perusahaan senantiasa mempertahankan kelangsungan usaha serta memaksimalkan manfaat bagi pemegang saham dan pemangku kepentingan lainnya. Perseroan secara aktif dan rutin menelaah dan mengelola permodalan untuk memastikan struktur modal dan pengembalian yang optimal bagi pemegang saham, dengan mempertimbangkan efisiensi penggunaan modal berdasarkan Arus Kas Operasi dan Belanja Modal, serta mempertimbangkan kebutuhan modal di masa yang akan datang.

Struktur modal Perseroan yang terdiri dari Utang berbasis bunga/Sukuk dan Ekuitas, sebagai berikut:

Basis of Selection and Management Policy on Capital Structure

In managing its capital structure, the Company and its subsidiaries continue to maintain business sustainability and maximize benefits given to the shareholders and other stakeholders. The Company actively and regularly reviews and manages its capital to ensure their capital structure and provide optimum results for all shareholders. This is conducted by taking into account the efficiency in the use of capital based on the Cash Flows from Operations and Capital Expenditure, as well as the capital needs in the future.

The Company’s capital structure consisting of interest bearing Debt/Sukuk and Equity is described below:

DESKRIPSIDescription 2018 2017*

PinjamanLoans 1.734.571.804.356 1.473.451.833.614

Kas dan Setara Kas dan Aset Keuangan Jangka Pendek Lainnya Cash and Cash Equivalents as well as Other Short-Term Financial Assets

(582.976.697.117) (422.473.730.059)

Pinjaman – Bersih Loans – Net 1.151.595.107.239 1.050.978.103.555

EkuitasEquity 4.356.360.169.913 4.235.343.475.134

Rasio Pinjaman – Bersih terhadap ModalRatio of Net Loans to Equity

0,26 0,25




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IKATAN MATERIAL UNTUK INVESTASI BARANG MODAL

INVESTASI BARANG MODAL YANG DIREALISASIKAN PADA TAHUN BUKU TERAKHIR

Material Commitment for Capital Goods Investment

Capital Goods Investment Realized in the Last Fiscal Year

Tujuan Investasi Barang Modal untuk keperluan pengembangan Perseroan adalah dalam rangka meningkatkan nilai Perseroan melalui ekspansi. Jenis Investasi Barang Modal yang dilakukan terutama untuk keperluan proyek pengembangan dalam bentuk investasi pada Anak Perusahaan. Tujuan Investasi Barang Modal untuk keperluan pengembangan Perseroan adalah dalam rangka meningkatkan nilai Perseroan melalui ekspansi. Pada tahun 2018, Perseroan tidak melakukan investasi kepada Entitas Asosiasi, sedangkan pada tahun 2017 sebesar Rp3.689,25 miliar.

Perseroan merealisasikan Investasi Barang Modal (Capital Expenditure) pada tahun buku 2018 sebagai berikut:

The purpose of Capital Goods Investment for the development of the Company is to increase the Company’s value through expansion. Types of Capital Goods Investments carried out are mainly for the needs of development projects in the form of investments in Subsidiaries. The purpose of Capital Goods Investment for the development of the Company is to increase the Company’s value through expansion. In 2018, the Company did not conduct investments in Associate Entities, while in 2017 the investments made were Rp3,689.25 billion.

The following table describes the Capital Goods Investment (Capital Expenditure) realized in 2018 fiscal year:


JENIS INVESTASI Types of Investment

TUJUANGoals

NILAIValue

Bangunan dan PrasaranaBuildings and Infrastructure

Barang ModalCapital Goods

Ekspansi & OperasionalExpansion & Operations 100.556.276.080

Peralatan dan PerlengkapanEquipment


OperasionalOperations 19.838.332.198

KendaraanVehicles


OperasionalOperations 363.200.000

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PERBANDINGAN ANTARA TARGET DAN REALISASI 2018 SERTA PROYEKSI 2019

INFORMASI DAN FAKTA MATERIAL SETELAH TANGGAL LAPORAN AKUNTAN

TRANSAKSI MATERIAL TERKAIT INVESTASI, EKSPANSI, DIVESTASI, PENGGABUNGAN/PELEBURAN USAHA, AKUISISI, RESTRUKTURISASI UTANG/MODAL, DAN TRANSAKSI DENGAN AFILIASI

Comparison Between Targets and Realizations In 2018 and Projections for 2019

Material Information and Fact Subsequent to the Date of Accountant Report

Material Transactions Containing Investment, Expansion, Divestment, Business Merger/Consolidation, Acquisit ion, Capital/Debt Restructuring, and Transactions with Affi l iated Parties

Pada tahun buku 2018, Perseroan tidak mencatatkan informasi dan fakta material yang terjadi setelah tanggal laporan akuntan.

Pada tanggal 24 April 2019 terjadi pengurangan modal IPI dari Rp244.666.667.000 menjadi Rp232.433.334.00 sehingga berdampak pada komposisi Pemegang saham.

Pada tahun 2018, Perseroan tidak melakukan transaksi material terkait dengan Investasi, Ekspansi, Divestasi, Penggabungan/Peleburan Usaha, Akuisisi, dan Restrukturisasi Utang/Modal.

In 2018 fiscal year, the Company did not record any material information and fact occurring subsequent to the dated of accountant’s report.

On 24 April 2019, IPI capital decreased from Rp244,666,667,000 to Rp232, 433,334,000 that impacted Composisition of Shareholders

The Company did not conduct any material transactions related to Investment, Expansion, Divestment, Business Merger/Consolidation, Acquisition, and Capital/Debt Restructuring.

KETERANGANDescription TARGET REALISASI 2018

Realization in 2018PENCAPAIANAchievement (%)

PROYEKSI 2019 Projection for 2019

PendapatanRevenues 694.720 770.398 111% 998.634

Laba Usaha Profit from Operations 113.991 150.934 132% 178.861

EkuitasEquity 4.353.033 4.356.360 100% 4.398.505

dalam Jutaan Rupiah penuh | in Million Rupiah


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TRANSAKSI MATERIAL YANG MENGANDUNG BENTURAN KEPENTINGAN DAN TRANSAKSI AFILIASIMaterial Transactions Containing Conflict of Interest and Affi l iated Transactions

Pada tahun 2018, Perseroan tidak mencatatkan transaksi material yang mengandung benturan kepentingan. Sedangkan informasi transaksi dengan pihak afiliasi adalah sebagai berikut:

Sepanjang tahun 2018, Perseroan melakukan transaksi penting lainnya sebagai berikut:

1. Pembelian saham oleh PT Indonesian Paradise Property Tbk di PT Rifai Maju Properti sebesar 60%

2. Penjualan saham PT Indonesian Paradise Property Tbk di PT Omega Propertindo sebesar 60%.

Kebijakan Perseroan dalam membagikan Dividen dilakukan melalui keputusan Rapat Umum Pemegang Saham Tahunan. Pada periode tahun buku 2017, Rapat Umum Pemegang Saham Tahunan

The Company did not conduct any material transactions containing conflict of interest in 2018. Meanwhile, transactions with affiliated parties are described in the following table:

Over the course of 2018, the Company has conducted important transactions as follows:

1. Purchase of share of PT Rifai Maju Properti amounting to 60% by PT Indonesian Paradise Property Tbk

2. Divestment of shares of PT Indonesian Paradise Property Tbk at PT Omega Propertindo amounting to 60%.

The Company’s policy on the distribution of Dividend is determined through the Annual General Meeting of Shareholders. In the period of 2017 fiscal year, the Annual General Meeting of Shareholders

PIHAK-PIHAK YANG TERLIBAT

Parties Involved in the Transaction

OBYEK DAN NILAI TRANSAKSI

Object and Value of Transaction

HUBUNGAN AFILIASIAffiliation

TANGGAL TRANSAKSI

Date of Transaction

PT Indonesian Paradise Property Tbk. dan PT Andalan Karya Property Rp2.500.000.000

Hubungan Afiliasi dari segi kepemilikan saham dan hubungan Afiliasi dari segi Komisaris dan Direksi Affiliations in regard of share ownership and of Board of Commissioners and Board of Directors

13 April 2018

PT Indonesian Paradise Property Tbk. dan PT Grahatama Kreasibaru

Rp2.000.000.000 Pemegang SahamShareholder 4 April 2018

TRANSAKSI-TRANSAKSI PENTING LAINNYA DALAM JUMLAH YANG SIGNIFIKAN

KEBIJAKAN DIVIDEN

Other Important Transactions with Significant Amount

Dividend Policy

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Sampai dengan akhir tahun 2018, Perseroan tidak memiliki program kepemilikan saham oleh manajemen dan/atau karyawan.

Up to the end of 2018, the Company did not establish Management and/or Employee Stock Option Plan (MSOP/ESOP).

KETERANGANDescription 2018 2017

Laba Tahun BerjalanProfit for the Year Rp100.777.813.683

Tidak ada pembagian dividen

No dividend payment

Total Dividen yang DibagikanTotal Dividend Distributed Rp16.772.957.598,00

Jumlah Dividen Kas per SahamTotal Cash Dividend per Share

Rp1,50 per lembar sahamRp1.50 per share

Payout Ratio 0,16

Tanggal PengumumanAnnouncement Date

Deviden Tunai akan dibayarkan kepada pemegang saham yang tercatat pada Daftar Pemagang Saham Perseroan (Recording Date) pada penutupan perdagangan saham Perseroan di Bursa Efek Indonesia pada tanggal 6 Juli 2018.Cash Devidens shall be paid to the shareholders registered in the Shareholders Register of the Company (Recording Date) on the closing of Company’s share trading at the Indonesia Stock Exchange, namely on 6 July 2018.

Tanggal PembayaranPayment Date 27 July 2018

PROGRAM KEPEMILIKAN SAHAM OLEH KARYAWAN DAN/ATAU MANAJEMEN Management and/or Employee Stock Option Plan

telah setuju untuk tidak melakukan pembagian Dividen. Pembagian dividen Perseroan pada tahun 2018 adalah sebagai berikut:

approved not to distribute Dividends. Meanwhile, the distribution of Company’s dividend in AGMS 2018 is as follows:

PENGGUNAAN DANA HASIL PENAWARAN UMUMUse of Proceeds From Public Offering

Perseroan melaksanakan Initial Public Offering (IPO) pada tanggal 21 September 2004 dan telah menggunakan seluruh dana hasil Penawaran Umum Perseroan sebagaimana yang tercantum dalam prospektus.

The Company executed an Initial Public Offering (IPO) on 21 September 2004, and has used all proceeds from Public Offering as stipulated in the prospectus.


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A B C D F G H


JUMLAH PEMESAN

Total Subscriber


JUMLAH UANG PEMESANAN (RP)Amount of Subscription

(Rp)

%(PERSERATUS)

(Percent)

Total PenawaranTotal Offering - 180.000.000 20.700.000.000 100,00

Total PemesananTotal Subscription 534 179.639.000 20.658.485.000 99,80

Sisa PenawaranUnsubscribed Shares - 361.000 41.515.000 0,20

JENIS PENAWARAN

UMUMType of Public

Offering

TANGGAL EFEKTIF

Effective Date

JUMLAH HASIL PENAWARAN UMUMTotal Proceeds from Public Offering

PENAWARAN UMUM DENGAN MEMBERIKAN HMETDPublic Offering with Pre-Emptive Rights

TOTALJUMLAH

HASIL PENAWARAN

UMUMTotal Proceeds

from Public Offering

BIAYA PENAWARAN

UMUMPublic Offering

Fee

HASIL BERSIHPublic Offering

Fee

PEMBELIAN 25,91%

SAHAM PT PLAZA

INDONESIA REALTY TBKPurchase of

25.91% Shares of PT Plaza Indonesia Realty Tbk

AKUISISI 51% SAHAM PT SEPINGAN PROPERTI

Purchase of 25.91% Shares

of PT Plaza Indonesia Realty Tbk

AKUISISI 51% SAHAM

PT MITRA PERDANA NUANSA

Acquisition of 51% Shares of PT Sepingan

Properti

AKUISISI 51% SAHAM PT ANUGERAH NUSARAYAAcquisition

of 51% Shares of PT Mitra

Perdana Nuansa

AKUISISI 51% SAHAM

PT MITRA GEMILANG

MAHACIPTAAcquisition

of 51% Shares of PT Mitra Gemilang

Mahacipta

MODAL KERJA

Work Capital

Penawaran Umum dengan Memberikan HMETDPublic Offering with Pre-Emptive Rights

26 June 2015 2.802.529.642.900 4.111.514.160 2.798.418.128.740 2.300.000.000 13.500.000.000 29.000.000.000 97.000.000.000 192.000.000.000 166.918.128.740 2.798.418.128.740

JENIS PENAWARAN UMUM

Type of Public Offering

REALISASI PENGGUNAAN DANARealization of the Use of Proceeds

TOTALPEMBELIAN 25,91% SAHAM

PT PLINPurchase of 25.91% Shares of PT PLIN

AKUISISI 51% SAHAM PT SEPINGAN PROPERTI

Acquisition of 51% Shares of PT

Sepingan Properti

AKUISISI 51% SAHAM PT MITRA

PERDANA NUANSAAcquisition of 51% Shares of PT Mitra Perdana Nuansa

AKUISISI 51% SAHAM PT ANUGERAH

NUSARAYAAcquisition of

51% Shares of PT Anugerah Nusaraya

AKUISISI 55% SAHAM PT MITRA

GEMILANG MAHACIPTA

Acquisition of 55% Shares of PT Mitra

Gemilang Mahacipta

MODAL KERJAWork Capital

Penawaran Umum dengan Memberikan HMETDPublic Offering with Pre-Emptive Rights

2.307.467.006.472 14.520.408.164 30.020.408.164 100.928.571.429 196.693.877.551 148.787.856.961 2.798.418.128.740

Sedangkan realisasi penggunaan dana hasil Penawaran Umum Terbatas I tahun 2015 yang dilakukan dengan cara menerbitkan Hak Memesan Efek Terlebih Dahulu kepada Para Pemegang Saham Perseroan, dan telah mendapat Pernyataan Efektif dari Otoritas Jasa Keuangan berdasarkan surat dari OJK No. S-253/D.04/2015, telah digunakan sebagaimana yang tercantum dalam prospektus, sebagai berikut:

Meanwhile, proceeds from Rights Issue I of 2015 conducted through Pre-emptive Rights of the Company’s Shareholders, which have gained Effective Statement from the Financial Services Authority based on the letter of OJK No. S-253/D.04/2015, have been used for the purposes as recorded in the prospectus, as follows:

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PERUBAHAN PERATURAN PERUNDANG-UNDANGAN PADA TAHUN BUKU TERAKHIR

PERUBAHAN KEBIJAKAN AKUNTANSI

Changes in Laws and Regulations in the Last Fiscal Year

Changes in Accounting Policies

Sepanjang tahun 2018, tidak ada dampak yang signifikan terhadap Perseroan dan laporan keuangan terkait perubahan peraturan dan perundang-undangan yang berlaku.

Perseroan senantiasa menyusun Laporan Keuangan Konsolidasian sesuai dengan Standar Akuntansi Keuangan di Indonesia yang mencakup Pernyataan Standar Akuntansi Keuangan dan Interpretasi Standar Akuntansi Keuangan yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia.

Penerapan Standar Akuntasi berikut dan interpretasi dari Standar Akuntansi, yang berlaku efektif sejak tanggal 1 Januari 2018, tidak mengakibatkan perubahan substansial atas kebijakan akuntansi Perusahaan dan tidak memberikan dampak yang material terhadap jumlah yang dilaporkan di Laporan Keuangan Konsolidasian Tahun Berjalan.

Adapun perubahan kebijakan akuntansi yang diterapkan pada tahun 2018, sebagai berikut:• Amandemen PSAK 2 “Laporan Arus Kas -

Prakarsa Pengungkapan”• Amandemen PSAK 13, “Properti Investasi -

Pengalihan Properti Investasi”• PSAK 15 (Penyesuaian), “Investasi pada Entitas

Asosiasi dan Ventura Bersama”• Amandemen PSAK 16 “Aset Tetap”• Amandemen PSAK 46 “Pajak Penghasilan -

Pengakuan Aset Pajak Tangguhan untuk Rugi yang Belum Direalisasikan”

Throughout 2018, there has been no significant impact on the Company and its financial statements due to changes in the prevailing laws and regulations.

The Company always prepares its Consolidated Financial Statements in accordance with the Indonesian Financial Accounting Standards, covering the Statements and Interpretations of Financial Accounting Standards, issued by the Board of Financial Accounting Standards of the Institute of Indonesia Chartered Accountants.

The adoption of the following revised Accounting Standards and interpretation of the Accounting Standards, which are effective from 1 January 2018, did not result in substantial changes to the Company’s accounting policies and had no material effect on the amounts reported for the Consolidated Financial Statements of Current Year.

The changes in accounting policies implemented in 2018 are as follows:• Amendment to PSAK 2 “Statements of Cash

Flow - Disclosure Initiative”• Amendment to PSAK 13, “Investment Property -

Transfers of Investment Property”• PSAK 15 (Improvements). “Investment in

Associates and Joint Ventures”• Amendment to PSAK 16 “Fixed Assets”• Amendment to PSAK 46 “Income Tax -

Recognition of Deferred Tax Assets for Unrealized Losses”


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A B C D F G H

• Amandemen PSAK 53 “Pembayaran Berbasis Saham - Klasifikasi dan Pengukuran Transaksi Pembayaran Berbasis Saham”

• PSAK 67 (Penyesuaian), “Pengungkapan Kepentingan dalam Entitas Lain”

• Amendment to PSAK 53 “Share-Based Compensation - Classification and Measurement of Share-Based Payment Transactions”

• PSAK 67 (Improvements), “Disclosures of Interest in Other Entities”

KETAATAN SEBAGAI WAJIB PAJAKCompliance as Taxpayer

Perseroan dalam kegiatan operasionalnya telah menjalankan tata kelola perusahaan yang baik (Good Corporate Governance) yang dilakukan secara transparan dan akuntabel khususnya dalam hal perpajakan, dimana hak dan kewajiban perpajakan Perseroan senantiasa direalisasikan sesuai dengan peraturan yang berlaku.

Informasi pembayaran pajak Perseroan dalam dua tahun terakhir, sebagai berikut:

In its operational activities, the Company has implemented the principles of good corporate governance in a transparent and accountable manner, particularly in terms of taxation, in which the Company’s tax rights and obligations are always realized in accordance with the applicable regulations.

Information on the Company’s tax payments in the last two years is described in the following table:

DESKRIPSIDescription 2018 2017*

Pajak FinalFinal Tax (37.707.141.543) (28.688.266.571)

Pajak BadanCorporate Tax (448.674.710) (253.841.505)


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PROSPEK USAHABusiness Outlook

Perekonomian global pada tahun 2019 diperkirakan masih akan dipengaruhi oleh berlanjutnya volatilitas pasar keuangan dan tensi perdagangan. Meski demikian, prospek ekonomi Indonesia diperkirakan akan tetap baik. Di tengah prospek ekonomi global yang akan melandai, pertumbuhan ekonomi Indonesia pada 2019 diprakirakan meningkat dalam kisaran 5,0%-5,4%. Prospek pertumbuhan ekonomi yang meningkat ditopang oleh permintaan domestik yang kuat, baik bersumber dari konsumsi maupun investasi. Konsumsi rumah tangga diprakirakan tinggi sejalan dengan pendapatan masyarakat yang meningkat. Hal tersebut ditopang oleh inflasi yang terjaga, peningkatan penyaluran bantuan sosial, serta konsumsi untuk keperluan logistik terkait Pemilihan Presiden/Pemilihan Legislatif 2019. Sementara itu, investasi diprakirakan tetap tumbuh tinggi didorong oleh peningkatan investasi nonbangunan dan berlanjutnya proyek infrastruktur. Peningkatan pertumbuhan ekonomi juga ditunjang ekspor neto yang membaik seiring dengan melambatnya pertumbuhan impor.

Memandang ke depan, fundamental ekonomi Indonesia cukup stabil, kokoh dan mampu menciptakan consumer confidence. Perseroan yakin dapat menghadapi tantangan di tahun mendatang melalui berbagai kebijakan strategis serta target peningkatan kinerja yang mampu meningkatkan performa perusahaan dan optimis dapat menciptakan pertumbuhan pada angka yang realistis di masa mendatang.

Dalam jangka panjang, Perseroan menargetkan untuk masuk pada sektor mixed-use property yang terdiri dari perhotelan, pusat perbelanjaan, dan apartemen dalam satu kawasan yang terintegrasi. Perseroan juga akan menerapkan kedisiplinan dan

Global economy is projected to remain affected by continued financial market volatility and trade tension in 2019. Nonetheless, the outlook for domestic economy is expected to be positive. Amid the sluggish global economic outlook, Indonesia’s economic growth in 2019 is estimated to increase within the range of 5.0%-5.4%. This prospect is supported by strong domestic demand, both from consumption and investment sector. Household consumption is predicted to be high in line with the increased income of the community. This was supported by maintained inflation, increased distribution of social donations, and consumption for logistical purposes in relation to the Presidential/Legislative Election of 2019. Meanwhile, investment is predicted to maintain its high growth driven by increased investment activity in non-construction sector as well as the continuing infrastructure projects. The increase in economic growth is also supported by the improving net export along with slowing import growth.

Looking ahead, Indonesia’s economic fundamentals are quite stable and strong, and are capable of creating consumer confidence. Hence, the Company is confident that it can face the challenges in the coming year through various strategic policies and performance improvement targets that are able to improve performance. Moreover, the Company is optimistic that it can create growth in realistic numbers in the future.

The Company’s long-term target is to enter the mixed-use property sector which consists of hotels, shopping centers, and apartments in an integrated area. The Company will implement discipline and focus on its industry as part of its strategic policy.

PROSPEK DAN KELANGSUNGAN USAHAOutlook and Business Continuity


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A B C D F G H

fokus pada industri yang dijalani sebagai kebijakan strategis. Perbaikan dan perubahan kondisi lingkungan internal dalam rangka perbaikan berkelanjutan senantiasa dilakukan untuk meningkatkan kinerja yang telah berada pada jalur yang tepat. Perseroan tetap optimis bahwa prospek bisnis dan pencapaian kinerja pada masa mendatang akan semakin cemerlang, serta mampu menangkap berbagai peluang maupun beradaptasi dengan perubahan industri yang semakin kompleks pada masa mendatang.

Improvements and changes in internal environment, in the context of continuous development, are always carried out to enhance performance that has been on the right track. The Company remains optimistic that the business prospects and performance achievements in the future will be more brilliant, and able to capture various opportunities and as well as to the increasingly complex industrial changes in the future.

INFORMASI KELANGSUNGAN USAHAInformation on Business Continuity

Hal-Hal yang Berpotensi Berpengaruh Signifikan Terhadap Kelangsungan Usaha

Berdasarkan hasil penilaian manajemen atas kemampuan Perseroan untuk melanjutkan kelangsungan usaha di masa yang akan datang, Perseroan menyimpulkan bahwa tidak memiliki hal-hal yang berpotensi berpengaruh signifikan terhadap kelangsungan usaha Perseroan.

Asumsi yang digunakan Manajemen dalam Melakukan Penilaian

Dalam melaksanakan penilaian atas kemampuan Perseroan untuk melanjutkan kelangsungan usaha di masa yang akan datang, digunakan beberapa asumsi dan pertimbangan. Selain asumsi dalam analisis SWOT, asumsi dalam penilaian berbasis risiko juga menjadi dasar penilaian. Asumsi risiko tersebut dinilai dengan menggunakan beberapa asumsi yaitu risiko persaingan usaha dan risiko gangguan keamanan.

Issues with Potentials to Significantly Influence Business Continuity

Based on the results of management’s assessment on the Company’s ability to continue its business in the future, the Company concludes that it has had no issues with potentials to significantly influence its business continuity.

Assumptions Used by Management in Conducting Assessment

In carrying out assessment on the Company’s ability to continue its business in the future, the management uses several assumptions and considerations. In addition to the assumptions in SWOT analysis, assumptions in risk-based assessments also form the basis of assessment. Such risk assumptions are assessed using several assumptions, namely business competition risk and security disturbance risk.

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151


Penilaian Manajemen atas Hal-Hal yang Berpengaruh Signifikan Terhadap Kelangsungan Usaha

Dewan Komisaris beserta Direksi secara rutin melakukan evaluasi dan penilaian terkait hal-hal yang berpengaruh signifikan terhadap kelangsungan usaha. Evaluasi antara lain dilakukan melalui analisis SWOT yang terdiri dari Kekuatan (Strength) dan Kelemahan (Weakness) dimana analisis ini melihat faktor internal, beserta mengidentifikasi faktor secara eksternal melalui Kesempatan (Opportunity) dan Ancaman (Threat) yang bertujuan sebagai asumsi dasar kelangsungan bisnis Perseroan. Selain itu Perseroan juga melakukan penilaian lainnya dengan menggunakan pendekatan risiko untuk menilai kemampuan Perseroan dalam menghadapi pengaruh negatif yang signifikan dari perubahan kondisi bisnis.

Pada tahun 2018, hasil analisis SWOT serta penilaian lainnya berbasis risiko menunjukkan bahwa tidak terdapat hal-hal yang berpengaruh signifikan terhadap kelangsungan usaha Perseroan. Perseroan secara umum dinilai sangat mampu menghadapi pengaruh negatif yang signifikan dari perubahan kondisi bisnis dan faktor eksternal lainnya.

Management Assessment on Issues with Significant Influence on Business Continuity

The Board of Commissioners and Board of Directors of the Company routinely conduct assessments on issues that have a significant effect on business continuity. The assessments are carried out using, among others, a SWOT analysis consisting Strengths and Weaknesses where the analysis observes internal factors, and identifies external factors through Opportunities and Threats which become the basic assumption of the Company’s business continuity. In addition, the Company conducts other assessments using a risk approach to assess its ability to deal with significant negative effects of changes in business conditions.

In 2018, the results of SWOT analysis and other risk-based assessments indicated that there were no significant influences on the sustainability of Company’s business. The Company is generally considered to be very capable of addressing significant negative effects of changes in business conditions and other external factors.


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A B C E F G H

TINJAUAN PENDUKUNG BISNIS

REVIEW ON BUSINESS SUPPORTS

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SUMBER DAYA MANUSIAHuman Resources

Secara berkelanjutan, Perseroan mengembangkan dan membentuk Sumber Daya Manusia (SDM) yang tangguh dan profesional, guna mewujudkan visi untuk “Selalu Berupaya unggul dalam Pengembangan Properti Melalui Pencapaian yang Inovatif dan Kreatif”. Dalam rangka mencapai visi tersebut, Perseroan menerapkan kerangka strategi manajemen sumber daya manusia secara menyeluruh mulai dari perencanaan kebutuhan organisasi, pemenuhan kapasitas, pengembangan kompetensi, manajemen kinerja dan kesejahteraan, hingga memasuki masa pensiun. Melalui kerangka organisasi yang dimiliki, Perseroan melihat produktivitas SDM pada tahun 2018 meningkat dengan baik.

Struktur Pengelola Sumber Daya Manusia

Dalam rangka mendukung pelaksanaan strategi di bidang Sumber Daya Manusia yang selaras dengan visi dan misi, Perseroan membentuk struktur organisasi SDM sebagai berikut:

Continually, the Company develops strong and professional Human Resources (HR) on an ongoing basis in order to realize the vision of “Striving for Excellence in Property Development Through Innovative and Creative Achievements”. To achieve this vision, the Company implements a comprehensive framework of human resources management strategy, ranging from organizational needs planning, capacity fulfillment, competency development, performance and welfare management, to retirement. Through the established organizational framework, the Company saw an encouraging improvement in HR productivity in 2018.

Human Resource Management Structure

In supporting the implementation of strategies in Human Resources that are aligned with the vision and mission, the Company formulates HR organization structure as follows:


Presiden DirekturPresident Director

Veronica Prastiwi

Chief HR

Anggayasti Chandra

HR Officer

Tirza Nadyasmara

HR Assistant

Strategi Manajemen Sumber Daya Manusia

Komitmen Perseroan dalam pengembangan Sumber Daya Manusia dilakukan dengan menyelaraskan

Human Resource Management Strategy

The Company’s commitment to developing its Human Resources is carried out by aligning the

Tinjauan Pendukung Bisnis • Review on Business SupportsReview on Business Supports

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EXCLUSIVEEEXEXC

XCL

XLUUUU

beachwalk Shopping CenterBali

Mempersembahkan pengalaman belanja yang eksklusif di pusat perbelanjaan hijau dan terbuka.Presenting exclusive shopping experience in a green and open of shopping center.

F

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S2 dan S3 Master’s and Doctorate Degrees 4 3

S1 Bachelor’s Degree 20 18

Akademi Academy 34 33

SMA Senior High School 40 43

Jumlah Total 98 97

Komposisi Karyawan Berdasarkan Tingkat PendidikanEmployee Composition Based on Education

antara kebutuhan kuantitas karyawan dengan tuntutan perkembangan bisnis. Sepanjang tahun 2018, Perseroan telah mengembangkan Sumber Daya Manusia sekaligus mempertahankan Sumber Daya Manusia berkualitas yang dimiliki dengan kebijakan dan formulasi kompensasi dan benefit yang tepat sesuai kebutuhan karyawan. Perseroan melihat, perkembangan Sumber Daya Manusia pada tahun 2018 meningkat secara bermakna. Secara berkelanjutan, Perseroan terus berupaya membentuk Sumber Daya Manusia yang tangguh, profesional dan mampu mewujudkan visi untuk “Selalu Berupaya untuk Unggul dalam Pengembangan Properti Melalui Pencapaian yang Inovatif dan Kreatif.”

Seiring peningkatan kinerja Sumber Daya Manusia Perseroan, jenjang karir terbuka luas sehingga jabatan di atasnya dapat diisi dari internal di bawahnya berdasarkan penilaian kinerja karyawan sehingga profesionalitas Sumber Daya Manusia Perseroan dapat meningkat. Perseroan akan terus mengevaluasi proses kinerja dan operasional ke arah yang lebih baik, agar setiap bagian atau Departemen dapat bersinergi dalam mendukung strategi dan tujuan Perseroan baik dalam jangka panjang maupun jangka pendek.

Profil Sumber Daya Manusia

Per 31 Desember 2018, jumlah karyawan Perseroan mencapai 98 karyawan, sedangkan pada tahun 2017 sebanyak 97 karyawan. Jumlah karyawan pada 2018 tersebut telah disesuaikan dengan kebutuhan bisnis Perseroan baik dari sisi kualitas maupun kuantitas.

required amount of employees with the demands of business development. Throughout the year, the Company has developed its Human Resources while maintaining their quality through the implementation of policies as well as appropriate formulation of compensation and benefits according to the employees’ needs. The Company sees that Human Resources development in 2018 demonstrated a significant increase, and it will continuously endeavor to create tough and professional Human Resources capable of realizing the vision of “Striving for excellence in property development through innovative and creative achievements.”

Along with the performance improvement of Company’s Human Resources, career opportunity becomes more apparent and the top-level positions are expected to be filled by the Company’s internal organization on the basis of continuous assessment, aiming at leveraging the professionalism of Human Resources. The Company will continue to evaluate the operational and performance processes towards a better direction so that all divisions or Departments will be synergized in supporting the strategies and goals, both in the long-term and short-term.

Profile of Human Resources

As of 31 December 2018, the number of employees of the Company reached 98 employees while in 2017 there were 97 employees. The number of employees in 2018 had been adjusted to the Company’s business needs, both in terms of quality and quantity.


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Komposisi Karyawan Berdasarkan Level Jabatan Employee Composition Based on Position

Komposisi Karyawan Berdasarkan Status Kepegawaian Employee Composition Based on Employment Status

Komposisi Karyawan Berdasarkan Jenis Kelamin Employee Composition Based on Gender

Komposisi Karyawan Berdasarkan Jenjang Usia Employee Composition Based on Age


Manajemen Puncak Top Management 9 8

Manajemen Tingkat Menengah Mid Management 9 8

Manajemen Tingkat Pertama First Line Management 80 81

Jumlah Total 98 97


20–24 tahun 20 – 24 years old 20 20

25–29 tahun 25 – 29 years old 27 24

30–34 tahun 30 – 34 years old 16 20

35–39 tahun 35 – 39 years old 17 18

40–44 tahun 40 – 44 years old 6 2

45–49 tahun 45 – 49 years old 5 7

50–54 tahun 50 – 54 years old 4 3

55–59 tahun 55 – 59 years old 1 2

60 tahun ke atas 60 years old and above 2 1

Jumlah Total 98 97


Karyawan Tetap Permanent Employee 43 59

Karyawan Kontrak Contract Employee 55 38

Jumlah Total 98 97


Pria Male 75 70

Wanita Female 23 27

Jumlah Total 98 97

F

157


Rekrutmen danPengembangan Karir

Perseroan melakukan proses rekrutmen berasaskanprinsip keterbukaan, kewajaran, dan kesetaraan.Proses seleksi atas kandidat dilakukan sesuai dengan kebutuhan kuantitas dan kompetensi yangdimiliki oleh calon karyawan. Perseroan melalui Chief HR mengajukan permintaan menggunakan form yang berlaku dengan persetujuan manajemenuntuk mengisi posisi yang vacant. Kemudian, HR menyebarluaskan informasi kebutuhan tenaga kerja di beberapa media seperti situs Perseroan/ koran/situs pencari kerja/kampus. Kandidat yang sesuai dengan kualifikasi yang dibutuhkan akan diundang untuk mengikuti tahapan-tahapan selanjutnya. Kandidat yang telah lolos seleksi akan diberikan orientasi dalam rangka mempercepat proses adaptasi.

Setiap karyawan diberikan kesempatan yang setara untuk mencapai level atau jabatan tertentu dalam struktur organisasi. Perseroan mempersiapkan program pengembangan karir yang sistematis berdasarkan penilaian kinerja masing-masing individu karyawan melalui program mutasi dan promosi karyawan. Promosi diberikan kepada karyawan yang memenuhi kualifikasi yangbaik dibanding kandidat-kandidat yang lainnya.Disamping itu, Perseroan juga melaksanakan program mutasi atau rotasi kerja bagi karyawan untuk menghindari kejenuhan dan hal lainnya sertadalam rangka menguasai dan mendalami tugas lain yang berbeda.

Pendidikan dan Pelatihan

Pengembangan SDM Perseroan dilakukan melalui pelaksanaan program pendidikan dan pelatihan dengan materi yang diterjemahkan dari kebutuhan bisnis di lapangan. Perseroan juga memberikan program pelatihan bagi calon pemimpin masa depan yang disiapkan melalui program pengembangan manajemen.

Informasi mengenai pendidikan dan pelatihan Sumber Daya Manusia yang dilakukan Perseroan beserta Entitas Anak Perusahaan pada tahun 2018 sebagai berikut:

Recruitment andCareer Development

The Company carries out recruitment process on the basis of transparency, fairness, and equality principles. The selection process for the candidates is conducted in accordance with the needs for quantity and the employee candidates’ competency. Through the Chief of HR Department, the Company submits a proposal to fill the vacant position using the applicable form with management’s approval. Then, the HR Department disseminates information about workforce needs in several media such as the Company’s website/ newspapers/ job portal/ campus. Candidates who meet the required qualifications will be invited to participate in the next stages. Passed candidates will then be given an orientation activity in order to accelerate the adaptation process.

Each employee is provided with equal opportunity to reach certain level or position in the Company’s organization structure. Therefore, the Company prepares a systematic career development program based on the performance evaluation of each individual through employee transfer and promotion. Promotion is given to employees who meet the qualifications better than other candidates. In addition, the Company implements transfer or work rotation programs for employees to avoid monotony/boredom and other matters, and to master and explore other different duties.

Education and Training

Human Resource development in the Company is conducted through education and training programs with training materials based on

the business needs on the field. Furthermore,the Company organizes training program for future leaders through the management development program.

Information on the education and training activities for Human Resources carried out by the Company and its Subsidiaries in 2018 is as follows:


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A B C D E G H

PerseroanThe Company

NO. TANGGALDate

JENIS DAN JUDUL PELATIHANType of Education and Training

TUJUAN PELATIHANObjectives of Training

LEVEL JABATANPESERTA PELATIHAN

Position Level ofParticipants

JUMLAHPESERTA

TotalParticipants

1 26 & 27 March 2018 Step by Step Tatacara Dokumentasi Transfer Pricing Berdasarkan PMK 213/ PMK.03/2016Step-by-Step of the Documentation Procedures of Transfer Pricing Based on PMK 213/PMK.03/2016

Untuk mengerti aturan baru dalamperpajakanTo understand new taxation regulation

MenengahMiddle

1

2 26 & 27 March 2018 Time & Stress Management Meningkatkan soft skill karyawanTo improve employees’ soft skills

Manajemen TingkatPertamaFirst Line Management

15

3 11& 12 April 208 Time & Stress Management Meningkatkan soft skill karyawanTo improve employees’ soft skills


29

4 27 April 2018 Effective Communication Meningkatkan soft skill karyawanTo improve employees’ soft skills

MenengahMiddle

19

5 7, 8, 9 May 2018 Accelerated Leadership & Managerial Skill

Meningkatkan soft skill karyawanTo improve employees’ soft skills

Manajemen PuncakTop Management

19

6 30 & 31 July 2018 Strengthening Credibility Meningkatkan soft skill karyawanTo improve employees’ soft skills


15

7 8 & 9 August2018 Procurement Management Untuk mengenal lebih dalam ilmuProcurementTo better understand Procurement

MenengahMiddle

1

8 24 & 25 August 2018 Greenship Associate Menambah pengetahuan tentangprinsip – prinsip green pada setiapproject dari perencanaan hinggapelaksanaanTo increase the knowledge in greenprinciples at each project, starting fromplanning to execution

Menengah ,Manajemen PuncakMiddle, TopManagement

3

9 27 & 28 August 2018 Problem Solving and Decission Making


MenengahMiddle

19

10 29 August 2018 Kepatuhan Sukarela Wajib Pajak,IKPI, dan Fiskus Merupakan KunciKeberhasilan Pemungutan PajakVoluntary Compliance of Taxpayer, IKPI,and Fiskus is the Key to Successful TaxCollection

Untuk mengetahui lebih dalam mengenai transfer pricing audit practice di Indonesia dan data perpajakan terhadap wajib pajakTo better understand about auditpractice transfer pricing in Indonesiaand taxation data to taxpayer

MenengahMiddle

1

11 17 & 18 September 2018

Strengthening Credibility Meningkatkan soft skill karyawanTo improve employees’ soft skills


31

12 13 September 2018 Problem Solving and Decission Making



19

13 27 September2018

Table Manner Untuk mengerti table manner dasarTo understand about basic table manner

Manajemen TingkatPertama, MenengahFirst Line Management,Middle

18

14 14 November 2018 Teamwork Meningkatkan soft skill karyawanTo improve employees’ soft skills

MenengahMiddle

19

15 15 November 2018 Teamwork Meningkatkan soft skill karyawanTo improve employees’ soft skills


19

16 22 November 2018 PPh 21Income Tax Article 21

Untuk mengerti Pajak PPh 21To understand about Income Tax Article 21


1

F

159


Entitas Anak Perusahaan Subsidiaries

NO. TANGGALDate

JENIS DAN JUDUL PELATIHANType of Education and Training

TUJUAN PELATIHANObjectives of Training

PIHAKPENYELENGGARA

Organizers

JUMLAHPESERTA

TotalParticipants

130 January 2018

Counseling Training Untuk dapat memberikankonseling kepada karyawanTo be able to provide counseling toemployees

MC HR & TrainingConsultant

1

2 Monthly Bahasa Mandarin DasarBasic Mandarin Language

Pengembangan kompetensiBahasa asingDevelopment of Foreign Languagecompetency

Qooco LearningCenter

6

330 Maret 2018

TAUZIA Annual Conference Untuk mendapatkan informasi terkini perihal pengalaman dan kepuasan tamu, dan pemasaran hotel.To obtain up-to-date information on guest experience and satisfaction, and hotel marketing.

TAUZIA 2

4 25 April 2018 Fire Drill Training Pelatihan memadamkan apiFire extinguishing training

Damkar BadungFire Department ofBadung

1

5 27 April 2018 Booking.com Workshop Untuk mendapatkan informasi terkini perihal system online travel agentTo obtain up-to-date information on travel agent online system

Booking.com 19

6 27 April 2018 Rategain Workshop Untuk mendapatkan informasi terkini perihal sistem online travel agentTo obtain up-to-date information on travel agent online system

Rangga 15

7 30 April 2018 Add Happy Guest Untuk dapat mengetahui cara meningkatkan kepuasan pelangganTo be able to understand the method to improve customer satisfaction

TAUZIA 1

8 30 April 2018 HACCP Training Untuk mengetahui standard sanitasi To understand about sanitation standards

TUV Neitherland 3

928 May 2018

IHKA Workshop Untuk mengetahui informasi terkini perihal HousekeepingTo obtain up-to-date information on Housekeeping

ElizabethInternational

19

1028 May 2018

Bimtek Struktur Skala UpahTechnical Coaching on WageScale Structure

Untuk dapat membuat struktur skala upahTo be able to prepare wage scale structure

Disnaker Prov BaliManpowerDepartment of Bali Province

1

1128 May 2018

IT Workshop Untuk mengetahui informasi terkini perihal ITTo obtain up-to-date information on IT

TAUZIA 31

1229 June 2018

VHP System Untuk dapat mengoperasikan sistem hotel VHPTo be able to operate VHP hotel system

VHP 19

1330 Juli 2018

Keys to Management Untuk meningkatkan kompetensi manajerialTo improve managerial competency

TAUZIA 18

14 Monthly Bahasa Inggris ProfesiEnglish for ProfessionalPurposes

Pengembangan kompetensi Bahasa asingDevelopment of Foreign Language competency

Qooco LearningCenter

19

1529 Agustus 2018

HIV Aids Socialization Informasi mengenai HIV AidsInformation on HIV AIDS

Mandiri HealthCare

19

16 22 September 2018 Drug Socialization Untuk mgentahui bahaya dan jenis jenis narkobaTo understand the danger and types of drugs

Puskesmas Kuta IKuta I Public HealthCenter

1

1720 Desember 2018

How to Secure Asset fromEarthquake, Tsunami, andFire

Untuk menyelamatkan aset dari potensi bencanaTo secure assets from disaster potential

Aksi CepatTanggap (ACT)

5


160


A B C D E G H

Biaya PengembanganPendidikan dan Pelatihan

Pada tahun 2018, Perseroan telah mengeluarkanbiaya pengembangan pendidikan dan pelatihankaryawan sebesar Rp444.819.365.

Sistem Informasi SDM

Perseroan telah menerapkan pengelolaan operasional SDM yang terintegrasi serta disesuaikan dengan kebutuhan manajemen sumber daya manusia secara efektif dan efisien. Sistem informasi manajemen SDM yang ada di Perseroan menjalankan beberapa hal meliputi pengaturan dan pengembangan SDM serta sistem, efisiensi waktu dan pengurangan risiko operasional.

Internalisasi Nilai-NilaiPerusahaan

Guna mendorong munculnya perilaku karyawan yang sesuai Nilai-Nilai Perusahaan, maka peran pimpinan sebagai agen perubahan sangat diperlukan. Di sisi lain, dalam rangka mencapai Visi dan Misi Perseroan serta dalam rangka menghadapi tantangan industri, diperlukan kekuatan dari seluruh insan Perseroan untuk membentuk perilaku yang sesuai dengan Nilai-Nilai Perseroan yang mendorong pencapaian target. Pada tahun 2018, Perseroan menerapkan strategi internalisasi Nilai-Nilai diantaranya penamaan fasilitas ruang meeting dengan menggunakan pilar-pilar utama yang terkandung dalam Nilai-Nilai Perusahaan.

Rencana Kerja Sumber DayaManusia Tahun 2019

Dari tahun ke tahun, Perseroan yang bergerak di bidang pelayanan akomodasi (hotel) dihadapkan pada persaingan industri yang semakin kompleks. Merespon tantangan tersebut, Perseroan telah menetapkan beberapa strategi pengelolaan SDM pada tahun 2019 diantaranya terus melakukan pengembangan SDM baik berupa soft skill maupun hard skill. Perseroan juga secara berkelanjutan melaksanakan beberapa kegiatan untuk menguatkan ikatan kebersamaan diantara karyawan meliputi kegiatan keagamaan, olahraga, employee gathering serta year end gathering .

Cost for Education andTraining Development

In 2018, the Company spent Rp444,819,365 for theemployee’s education and training developmentactivities.

HR Information System

The Company has implemented an integrated HR operational management adjusted to human resource management needs of the Company in an effective and efficient manner. The current HR management information system in the Company performs several tasks, including the regulation and development of HR and systems, time efficiency and minimization of operational risk.

Internalization of CorporateValues

To encourage the emergence of employee’s behavior that is in accordance with Corporate Values, the role of leader as an agent of change is highly necessary. On the other hand, in order to achieve Company’s Vision and Mission, as well as to face industry challenges, all personnel of Company is required to exert the effort to shape behavior that is in accordance with Corporate Values, and to promote the achievement of targets.In 2018, the Company implemented a strategy to internalize Values, including naming meeting room facilities using the main pillars contained in Corporate Values.

Human Resources WorkPlan for 2019

Over the year, the Company, which is engaged in accommodation services (hotels), has faced an increasingly complex industrial competition. In response to these challenges, the Company has established a number of HR management strategies for 2019, including continuing to develop its Human Resources, in terms of both soft skills and hard skills. The Company shall also continuously carry out various activities to strengthen the togetherness among employees, such as by conducting religious activities, sports, employee gathering and yearendgathering activities.

F

161


TEKNOLOGI INFORMASI Information Technology

Strategi pengembangan Teknologi Informasi (TI) Perseroan mengacu pada kebijakan internal yang berlaku yang diwujudkan dalam bentuk strategi implementasi teknologi informasi. Perseroan mengembangkan TI dengan menyeimbangkan antara pemenuhan kebutuhan bisnis, dengan tetap memperhatikan keamanan, kehandalan, dan kapabilitas internal TI, sehingga dapat mengoptimalkan perkembangan bisnis yang lebih

cepat, terpercaya dan dapat memberikan layanan kepada seluruh pemangku kepentingan. Pada tahun 2018, Perseroan telah menetapkan perencanaan penerapan teknologi informasi di Kantor Pusat dengan

menggunakan jaringan terintegrasi melalui Internet loop yang dapat meningkatkan efisiensi dan menekan biaya operasional.

The Information Technology (IT) development strategy of the Company refers to the applicable internal policies realized in the form of information technology implementation strategies. The Company develops its IT aspect by balancing the fulfillment of business needs while taking into account IT security, reliability,

and internal capabilities, so as to optimize business development that is faster and more reliable, and can provide services to all stakeholders. In 2018, the Company had established a plan for information

technology implementation at the Head Office using an integrated network through Internet loop which can increase efficiency and reduce operational costs.


Implementasi TeknologiInformasi tahun 2018

Dalam rangka mendukung pelaksanaan strategi di bidang Sumber Daya Manusia yang selaras dengan visi dan misi, Perseroan membentuk struktur organisasi SDM sebagai berikut:• Transaction Processing Systems

Sistem informasi yang mendukung transaksi bisnis. Sistem ini berperan menyiapkan, memproses, mengirim, dan menerima reservasi dari tamu, persiapan dokumen pembayaran, pemantauan persediaan kamar, pengelolaan daftar produk dan layanan yang digunakan tamu, dan hal-hal berbasis operasi lainnya.

• Management Information Systems Sistem ini mengamankan laporan dan akses langsung ke data transaksi hotel yang sekarang dan yang lampau. Fitur utama sistem ini adalah mendukung pengenalan keputusan bisnis dengan menggunakan prosedur-prosedur, peraturan pembuatan keputusan, dan arus informasi.

Information TechnologyImplementation in 2018

In supporting the implementation of strategies in Human Resources that are aligned with the vision and mission, the Company formulates HR organization structure as follows:• Transaction Processing Systems

This is an information system that supports business transactions and has the role of preparing, processing, sending and receiving guest reservations, preparing payment documents, monitoring room inventory, managing a list of products and services used by guests, and processing other operations based matters.

• Management Information Systems This system secures reports and direct access to current and past hotel transaction data. The main feature of this system is to support the introduction of business decisions using decision-making procedures and rules, as well as information flow.

162


A B C D E G HF

SERENITY

NIENIENIRENIE

REE

RE

RE

RSERSERSERSERSERSERSERSESESESESESESS

HARRIS Suite fX SudirmanJakarta

Menyuguhkan tempat yang nyaman di pusat kota Jakarta untuk menikmati udara yang sejuk dan keindahan gedung pencakar langit di sepanjang area Sudirman.Offering a serenity in the heart of Jakarta to enjoy the fresh air and beautiful skyscrapers along Sudirman area.

163


• Office Automation Systems Sistem yang memberi dukungan untuk berbagai aktivitas bisnis dan fungsi manajemen di seluruh tingkat pemangku kebijakan. Teknologi yang digunakan sistem ini bervariasi mulai dari pemrosesan dokumen (pemrosesan teks dan gambar), komunikasi (e-mail), telekonferensi, dan sistem pendukung lain seperti job organizer.

Di sisi lain, Perseroan juga akan terus meningkatkan kualitas dan kuantitas fasilitas sarana dan prasarana penunjang yang dibutuhkan, seperti fasilitas video conference, serta penyediaan informasi-informasi yang terkait dengan Perseroan melalui situs www.theparadise-group.com.

Rencana, Fokus, dan Strategi Teknologi Informasi2019

Perseroan menyadari bahwa di era globalisasi, teknologi sangat dibutuhkan untuk mendapatkan daya saing yang kuat. Pengembangan teknologi informasi Perseroan ke depannya telah direncanakan dan disusun sejalan dengan corporate plan, yaitu untuk memperkuat kegiatan operasional bisnis Perseroan. Pengembangan tahun 2019 akan fokus pada pengembangan teknologi informasi di Kantor Pusat dan Cabang melalui Internet loop.

• Office Automation Systems This system provides support for various business activities and management functions at all levels of policy-holders. The technology used by this system varies from document processing (text and image processing), communication (e-mail), teleconferencing, and other support systems, such as job organizers.

On the other hand, the Company will also continue to improve the quality and quantity of supporting facilities and infrastructure needed, such as video conference facilities, as well as to provide information related to the Company through the Company’s website www.theparadise-group.com.

Plan, Focus, and Strategy ofInformation Technology for2019

The Company understands that technology is highly required in this current globalization era to gain strong competitiveness. The future development of Company’s information technology has been planned and prepared in line with the corporate plan, namely to strengthen the Company’s business operations. IT Development in 2019 will focus on improving information technology at the Head Office and Branches through Internet loop..


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A B C D E F G H

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A B C D E F G H

TATA KELOLA PERUSAHAAN

CORPORATE GOVERNANCE

G

165


Tata Kelola Perusahaan • Corporate GovernanceCorporate Governance

KOMITMEN PENERAPAN TATA KELOLAGovernance Implementation Commitment

Governance Framework

Komitmen Perseroan dalam penerapan Tata Kelola dapat terlihat dengan adanya keselarasan pada ketiga aspek governance framework yang meliputi governance structure, governance process dan governance outcome.

Governance Framework

Commitment to governance implementation can be seen through the harmony between the three aspects of governance framework, namely governance structure, governance process, and governance outcome.

Komitmen Perseroan dalam penerapan tata kelola perusahaan yang baik atau Good Corporate Governace (GCG) menghasilkan kinerja yang sangat memuaskan. Efektivitas implementasi Tata Kelola tercermin dari governance outcome yang dicapai. Perseroan telah merasakan manfaat dari implementasi Tata Kelola dengan pencapaian kinerja keuangan dan non keuangan yang sangat baik pada tahun 2018. Perseroan mengembangkan struktur dan mekanisme tata kelola

yang dapat meningkatkan nilai Perseroan yang berkualitas dan kompetitif.

The Company’s commitment to Good Corporate Governance (GCG) implementation results in a highly satisfying performance. The effectiveness of Governance implementation is reflected on the governance

outcome achieved, in which the Company has benefited from proper Governance implementation through the realization of excellent financial and non-financial performance in 2018. The Company has developed

governance structure and mechanism that can elevate its quality and competitive value.

• Organ Utama• Organ Pendukung• Infrastruktur Corporate Governance• Main Organs• Supporting Organs• Corporate Governance Infrastructure

Pemenuhan terhadap harapan seluruh pemangku kepentingan

Fulfillment of expectation of all stakeholders

Governance Structure

Alokasi wewenang, tugas dan tanggung jawab yang efektif:• Penetapan Strategi dan Sasaran Perseroan• Pemilihan dan pengawasan Simber Daya Manusia

yang efektif• Pengolahan Perseroan yang profesional• Melindungi kepentingan pelanggan, memenuhi

kepentingan pemegang saham, dan pemangku kepentingan lainnya

• Memadukan budaya, kegiatan usaha dan perilaku dengan tujuan menjalankan kegiatan usaha yang aman dan sehat dengan integritas dan patuh terhadap peraturan perundang-undangan

• Menetapkan sistem manajemen risiko dan fungsi pengendalian yang efektif

Effective allocation of authority, duties, and responsibilities:• Determination of Company’s Strategies and Targets• Effective selection and supervision of Human Resources• Professional management of the Company• Protection and fulfillment of the interest of both the

stakeholders and the shareholders• Combination of culture, business activities, and behavior, with

the aim of carrying out safe and healthy business activities with integrity and compliance with the laws and regulations

• Determination of effective risk management system and control function

Governance Process Governance Outcome

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A B C D E F HG

Governance structure terkait dengan kecukupan struktur dan infrastruktur Tata Kelola agar proses penerapan prinsip tata kelola yang baik menghasilkan outcome yang sesuai dengan harapan pemangku kepentingan (stakeholders). Struktur tata kelola terdiri dari Direksi, Dewan Komisaris, Komite Audit di bawah Dewan Komisars, Sekretaris Perusahaan, serta Unit Audit Internal. Sedangkan infrastruktur tata kelola meliputi kebijakan dan prosedur, sistem informasi manajemen serta tugas pokok dan fungsi masing-masing struktur organisasi.

Governance process berkaitan dengan proses penerapan prinsip Tata Kelola yang didukung oleh kecukupan struktur dan infrastruktur Tata Kelola dalam rangka menghasilkan outcome yang sesuai dengan harapan seluruh pemangku kepentingan. Governance outcome mencerminkan hasil penerapan governance process dan dukungan dari governance structure.

Governance outcome yang memuaskan dihasilkan dari komitmen Perseroan untuk menerapkan GCG melalui governance structure dan governance process yang efektif, sesuai dengan harapan seluruh pemangku kepentingan. Perseroan juga senantiasa menerapkan seluruh prinsip tata kelola yaitu Transparency, Accountability, Responsibility, Independency dan Fairness yang telah disepakati oleh seluruh Dewan Komisaris, Direksi dan karyawan.

Governance structure is related to the adequacy of structure and infrastructure of Corporate Governance so that the implementation process of good governance principles generates outcomes that are in line with stakeholders’ expectations. The governance structure consists of the Board of Directors, the Board of Commissioners, Audit Committee under Board of Commissioners, the Corporate Secretary, and the Internal Audit Unit. Meanwhile, governance infrastructure includes policies and procedures, management information systems, and main duties and functions of each organizational structure.

Governance process is related to the process of implementation of Governance principles that is supported by the adequacy of governance structure and infrastructure in order to produce outcomes that are in line with the expectations of all stakeholders. Governance outcomes reflect the results of governance processes implementation and support from governance structures.

A satisfying governance outcome can be obtained through the Company’s commitment to implementing GCG through an effective governance structure and governance process in accordance with the expectations of all stakeholders. The Company is also committed to implementing all governance principles, namely Transparency, Accountability, Responsibility, Independency, and Fairness that have been agreed upon by the Board of Commissioners, Board of Directors, and employees.

TRANSPARANSITransparency

Perseroan menerapkan prinsip transparansi dengan menyediakan sarana komunikasi yang efektif dan responsif dalam memperoleh informasi mengenai perusahaan, sehingga seluruh Pemangku Kepentingan mampu memahami kinerja dan tindakan Perseroan.

The Company implements transparency principle by providing effective and responsive communication methods in acquiring information about the Company. By doing so, all stakeholders may study the Company’s performance and actions.

AKUNTABILITASAccountability

Perseroan menerapkan prinsip akuntabilitas dengan mengoptimalkan kinerja dan peran setiap individu Perseroan sehingga seluruh aksi dan kegiatan Perseroan berjalan dengan efektif dan efisien.

The Company implements accountability principle by optimizing performance and roles of each individual for an effective and efficient Company’s actions and activities.

PERTANGGUNGJAWABANResponsibility

Perseroan menerapkan prinsip pertanggungjawaban dengan bertanggung jawab terhadap masyarakat dan lingkungan terkait, mematuhi peraturan yang berlaku, serta menghindari segala transaksi yang dapat merugikan pihak ketiga maupun pihak lain di luar ketentuan yang telah disepakati.

The Company implements responsibility principle by taking responsibility to the public and the environment, complying with the prevailing regulations, and avoiding any transaction that disadvantage any third party or other parties outside of the stipulated regulations.

INDEPENDENSIIndependency

Perseroan menerapkan prinsip independensi dengan mengelola peran dan fungsi yang dimiliki secara mandiri tanpa ada tekanan dari pihak mana pun yang tidak sesuai dengan peraturan yang berlaku dan prinsip serta tata nilai perusahaan.

The Company implements independency principle by managing its roles and functions independently, without pressure from other parties that violates the prevailing regulations and the Company’s principles and code of conduct.

KEWAJARAN DAN KESETARAANFairness and Equality

Perseroan menerapkan prinsip kewajaran dan kesetaraan dengan memperhatikan hak setiap Pemangku Kepentingan secara adil sesuai dengan peraturan perundang-undangan yang berlaku. Perseroan menerapkan prinsip kewajaran dengan memenuhi hak setiap Pemangku Kepentingan dengan tetap memperhatikan kaidah dan peraturan perusahaan.

The Company implements fairness and equality principle by taking into account the stakeholders’ rights in accordance with the prevailing laws and regulations. In addition, the Company implements fairness principle by meeting the stakeholders’ rights, in consideration of the Company’s rules and regulations.

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Perseroan menyadari bahwa dengan Tata Kelola yang efektif dan konsisten, dapat memberikan pengaruh positif bagi Perseroan dan memberikan nilai lebih. Nilai lebih tersebut diciptakan melalui sikap dan perilaku yang sejalan dengan budaya Perusahaan; memberikan pelayanan prima, inovatif, efisien dan efektif; menyelenggarakan riset dan pengembangan bisnis yang tepat; menyediakan sistem pengendalian internal yang dapat menjamin akuntabilitas; menciptakan iklim usaha yang sehat; serta senantiasa memelihara keberlanjutan bisnis Perseroan. Karena itu, Perseroan berkomitmen untuk menempatkan Tata Kelola sebagai fondasi utama dalam menjalankan bisnis, serta untuk mempertahankan eksistensi Perseroan dalam menghadapi tantangan dan persaingan usaha di masa-masa mendatang. Keberlangsungan usaha Perseroan dengan kepercayaan pelanggan beserta seluruh pemangku kepentingan lainnya, akan senantiasa meningkatkan kontribusi Perseroan bagi seluruh masyarakat.

Dasar Penerapan Corporate Governance

Penerapan Tata Kelola Perseroan mengacu berbagai regulasi yang relevan dan pedoman-pedoman implementasi Tata Kelola (best practices) baik yang dikembangkan oleh institusi nasional maupun internasional sebagai berikut:• Undang-Undang Republik Indonesia Nomor 40

Tahun 2007 Tentang Perseroan Terbatas.• Undang-Undang Republik Indonesia Nomor 14

Tahun 2008 Tentang Keterbukaan Informasi.• Pe ra t u ra n O t o r i t a s J a s a Ke u a n g a n

N o. 3 2 / P OJ K .0 4/20 1 4 t e n t a n g Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka.

• Peraturan Otor i tas Jasa Keuangan No. 33/POJK .04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

• Peraturan Otoritas Jasa Keuangan N o . 3 4/ P O J K . 0 4/ 2 0 1 4 tentang Komite Nominasi dan Remunerasi Emiten atau Perusahaan Publik.

• Peraturan Otoritas Jasa Keuangan No. 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik.

• P e r a t u r a n O t o r i t a s J a s a K e u a n g a n N o . 8/ P O J K . 0 4/ 2 0 1 5 tentang Situs Web Emiten atau Perusahaan Publik.

The Company realizes that effective and consistent Governance implementation can provide a positive impact on the Company and generate more added values through attitudes and behaviors that are in line with the Company’s culture. In addition, such added values can be created by providing excellent, innovative, efficient, and effective service; conducting appropriate business research and development; providing an internal control system that can guarantee accountability; creating a healthy business climate; and maintaining business continuity of the Company in a sustainable manner. To that end, the Company is committed to placing Governance as the main foundation in conducting business, and to maintaining its existence in facing future challenges and business competition. The continuity of Company’s business, as well as the trust of customers and all other stakeholders, will always increase the Company’s contribution to the entire community.

Basis of Corporate Governance Implementation

The implementation of Corporate Governance in the Company refers to various relevant regulations and guidelines regarding Governance implementation (best practices) developed by national and international institutions, as follows:• Law of the Republic of Indonesia No. 40 of 2007

regarding Limited Liability Company.• Law of the Republic of Indonesia No. 14 of 2008

regarding Information Disclosure.• Regulation of Financial Services Authority

No. 32/POJK.04/2014 regarding Plan and Convention of General Meeting of Shareholders of Public Company.

• Regulation of Financial Services Authority No. 33/POJK.04/2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company.

• Regulation of Financial Services Authority No. 34/POJK.04/2014 regarding Nomination and Remuneration Committee of Issuer or Public Company.

• Regulation of Financial Services Authority No. 35/POJK.04/2014 regarding Corporate Secretary of Issuer or Public Company.

• Regulation of Financial Services Authority No. 8/POJK.04/2015 regarding Website of Issuer or Public Company.


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• Regulation of Financial Services Authority No. 21/POJK.04/2015 regarding Implementation Governance Guidelines at Public Company.

• Circular Letter of Financial Services Authority No. 32/SEOJK.04/2015 regarding Corporate Governance for Public Company.

• Attachment to the Circular Letter of Financial Services Authority No. 32/SEOJK.04/2015 regarding Corporate Governance for Public Company.

• Regulation of Financial Services Authority No. 31/POJK.04/2015 regarding Disclosure of Information or Material Fact by Issuer or Public Company.

• Regulation of Financial Services Authority No. 55/POJK.04/2015 regarding Establishment and Work Guidelines of Audit Committee.

• Regulation of Financial Services Authority No. 56/POJK.04/2015 regarding Estabishment and Guidelines for Preparation of Charter of Internal Audit Unit.

• Regulation of Financial Services Authority No. 60/POJK.04/2015 regarding Disclosure of Information of Certain Shareholders.

• Regulation of Financial Services Authority No. 29/POJK.04/2016 regarding Annual Report of Issuer or Public Company.

• Circular Letter of Financial Services Authority No. 30/SEOJK.04/2016 regarding Form and Contents of Annual Report of Issuer or Public Company.

• Corporate Governance Principles developed by the Organization for Economic Cooperation and Development (OECD).

• ASEAN Corporate Governance Scorecard.• Indonesian GCG Guidelines developed by the

National Committee for Corporate Governance (KNKG)

Governance Outcome

The effectiveness of Governance implementation is reflected on the achieved governance outcomes. The Company has managed to achieve and gain the benefits of Governance implementation as seen from its positive financial and operational performance in 2018 as follows:• Asset Growth of 4.60%• Equity Growth of 2.86%• Revenue Growth of 28.89%

• Peraturan Otor i tas Jasa Keuangan No. 2 1/POJK.04/2015 tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka.

• Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04/2015 tentang Tata Kelola Perusahaan Terbuka.

• Lampiran Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04/2015 tentang Tata Kelola Perusahaan Terbuka.

• P e r a t u r a n O t o r i t a s J a s a K e u a n g a n N o . 3 1/ P O J K . 0 4/ 2 0 1 5 t e n t a n g Keterbukaan atas Informasi atau Fakta Material oleh Emiten atau Perusahaan Publik.

• P e r a t u r a n O t o r i t a s J a s a K e u a n g a n N o . 5 5 / P O J K . 0 4/ 2 0 1 5 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit.

• P e r a t u r a n O t o r i t a s J a s a K e u a n g a n N o . 5 6/ P O J K . 0 4/ 2 0 1 5 tentang Pembentukan dan Pedoman Penyusunan Piagam Unit Audit Internal.

• P e r a t u r a n O t o r i t a s J a s a K e u a n g a n N o . 6 0/ P O J K . 0 4/ 2 0 1 5 tentang Keterbukaan Informasi Pemegang Saham Tertentu.

• Pe r a t u r a n O t o r i t a s J a s a Ke u a n g a n N o . 2 9/ P O J K .0 4/2 0 1 6 tentang Laporan Tahunan Emiten atau Perusahaan Publik.

• Surat Edaran Otor i tas Jasa Keuangan No. 30/SEOJK.04/2016 tentang Bentuk dan Isi Laporan Tahunan Emiten atau Perusahaan Terbuka.

• Prinsip-prinsip Corporate Governance yang dikembangkan oleh Organization for Economic Cooperation and Development (OECD).

• ASEAN Corporate Governance Scorecard.• Pedoman GCG Indonesia yang dikembangkan

oleh Komite Nasional Kebijakan Governance (KNKG).

Governance Outcome

Efektivitas penerapan Tata Kelola tercermin dari governance outcome yang telah diperoleh. Perseroan telah meraih pencapaian dan manfaat dari penerapan Tata Kelola yang terlihat dari kinerja keuangan maupun operasional yang baik pada tahun 2018 sebagai berikut:• Pertumbuhan Aset 4,60%• Pertumbuhan Ekuitas 2,86%• Pertumbuhan Pendapatan 28,89%

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• Pertumbuhan Laba Usaha 54,91%• Meraih penghargaan Indonesia Enterprise Risk

Management Award-II-2018, Silver. Kategori: Perusahaan Swasta-Tbk (non keuangan) dan Meraih penghargaan Indonesia Enterprise Risk Management Award-II-2018, peringkat ke-7 Kategori: Perusahaan Swasta-Tbk (non keuangan) dari Economic Review

Selain itu, efektivitas penerapan Tata Kelola juga terlihat melalui pemenuhan kepatuhan Perseroan terhadap peraturan perundang-undangan sehingga tidak terdapat sanksi dalam perkara hukum yang dihadapi oleh Perseroan.

• Operating Profit Growth of 54.91%• Obtained the Indonesia Enterprise Risk

Management Award-II-2018, Silver. Category: Private Company-Listed (non-financial) and Obtained the Indonesia Enterprise Risk Management Award-II-2018, 7th rank Category: Private Company-Listed (non-financial) from Economic Review

In addition, the effectiveness of Governance implementation is also seen through the fulfillment of Company’s compliance with the applicable laws and regulations; hence, are no sanctions imposed due to the legal cases faced by the Company.



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IMPLEMENTASI TATA KELOLA YANG BERKELANJUTANSustainable Governance Implementation

Pencapaian Implementasi Tata Kelola

Dalam rangka mewujudkan visi dan misi, Perseroan menetapkan standar implementasi Tata Kelola yang dapat dijadikan sebagai acuan dasar. Acuan dasar tersebut meliputi kriteria yang akan dicapai dari berbagai aspek yang terkait dengan implementasi Tata Kelola. Penetapan standar implementasi juga bertujuan agar Perseroan senantiasa meningkatkan kualitas implementasi Tata Kelola.

Perkembangan penerapan Tata Kelola Perseroan secara terstruktur dari tahun ke tahun sebagai berikut:

Achievement of Governance Implementation

In order to realize the vision and mission, the Company sets the standards for governance implementation, which can be used as a basic reference. This covers the criteria to be achieved from various aspects related to Governance implementation. Determination of implementation standards also aims to continuously improve the quality of Governance implementation at the Company.

The structured development of Governance implementation at the Company throughout the years is described in the following table:

• Perencanaan penyusunan Piagam Dewan Komisaris, Piagam Direksi, Kode Etik (Code of Conduct), dan Kebijakan Whistleblower

• Reformasi organ Komite Audit

• Sosialisasi dan pemberlakuan Kode Etik bagi seluruh karyawan dan penerapan Kebijakan Whistleblower

• Penilaian penerapan Good Corporate Governance Perseroan dilakukan secara internal (self assessment) dengan perolehan skor sebesar 82,25 (BAIK)

• Pelaksanaan Business Sustainability Program dalam kegiatan Tanggung Jawab Sosial Perusahaan

• Penilaian penerapan Good Corporate Governance Perseroan dilakukan secara internal (self assessment) dengan perolehan skor sebesar 84,25 (Baik)

• Penyusunan, pengesahan, dan penerbitan Piagam Dewan Komisaris, Piagam Direksi, Kode Etik (Code of Conduct), dan Kebijakan Whistleblower

• Pembaharuan Piagam Audit Internal

• Planning and preparation of Board of Commissioners and Board of Directors Charters, Code of Conduct, and Whistleblowing Policy

• Reformation of Audit Committee organ • Dissemination and enforcement of Code of Conduct for all employees, and implementation of Whistleblowing Policy

• Self-assessment on Good Corporate Governance Implementation at the Company (score obtained: 82.25 - GOOD)

• Implementation of Business Sustainability Program in Corporate Social Responsibility activities

• Self-assessment on Good Corporate Governance Implementation at the Company (score obtained: 84.25 - Good)

• Preparation, validation, and issuance of Board of Commissioners and Board of Directors Charters, Code of Conduct, and Whistleblowing Policy

• Update of Internal Audit Charter

2015 2017

20182016

PROGRAM DAN PENCAPAIAN PENERAPAN TATA KELOLAGovernance Implementation Program and Achievement




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Good Corporate Governance Assessment

Prosedur PenilaianPerseroan melaksanakan penilaian atas penerapan Good Corporate Governance dari tahun ke tahun, baik yang dilakukan oleh konsultan independen maupun self-assessment. Penilaian tersebut dilakukan dalam rangka memperoleh gambaran mengenai kondisi penerapan Good Corporate Governance terhadap praktik terbaik di lingkungan Perseroan serta mengidentifikasi bidang-bidang yang memerlukan perbaikan lebih lanjut.

Kriteria yang Digunakan dan Pihak yang Melakukan AssessmentPenilaian penerapan Good Corporate Governance Perseroan dilakukan secara internal (self-assessment) berdasarkan kriteria yang digunakan sesuai dengan Peraturan Otoritas Jasa Keuangan No. 21 tahun 2015 tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka serta Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka.

Hasil Penilaian Penerapan Tata Kelola PerusahaanHasil penilaian atas penerapan Good Corporate Governance Perseroan pada tahun buku 2018, Perseroan memperoleh skor Good Corporate Governance sebesar 84,25 dimana mengalami peningkatan dibandingkan tahun 2017 sebesar 82,25 (100 merupakan nilai sempurna). Hal ini membuktikan bahwa Perseroan secara berkelanjutan terus meningkatkan kualitas penerapan prinsip-prinsip Good Corporate Governance di Perseroan dan senantiasa berupaya untuk melakukan inovasi-inovasi di bidang Good Corporate Governance.

Good Corporate Governance Assessment

Assessment ProceduresThe Company conducts assessment on its implementation of Good Corporate Governance annually, either through self-assessment or by utilizing the service on an independent consultant. Such assessment is performed in order to obtain understanding on the condition of Good Corporate Governance implementation in regard to its best practices within the Company as well as to identify the fields requiring further improvement.

Assessment Criteria and Assessors

Assessment on Good Corporate Governance implementation in the Company is conducted internally (self-assessment) using criteria that refer to the Regulation of Financial Services Authority No. 21 of 2015 regarding Implementation Governance Guidelines at Public Company as well as Circular Letter of Financial Services Authority No. 32/SEOJK.04/2015 regarding Corporate Governance for Public Company.

Assessment Result of Corporate Governance ImplementationThe results of Good Corporate Governance Assessment showed that, in 2018 fiscal year, the Company the score of 84.25, an improvement compared to the score of 82.25 obtained in 2017 (out of the perfect score of 100). This proves that the Company consistently improves the quality of implementation of Good Corporate Governance principles and always strives to make innovations in the field of Good Corporate Governance.


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Rekomendasi dan Tindak Lanjutnya

Rekomendasi terhadap penerapan Good Corporate Governance di Perseroan menjadi masukan yang penting bagi penerapan Good Corporate Governance pada masa yang akan datang. Penerapan Good Corporate Governance menjadi lebih bermakna dan rencana perbaikan/penyempurnaannya senantiasa dilakukan secara berkala. Beberapa rekomendasi beserta tindak lanjutnya sebagai berikut:

Recommendations and Follow-Up ActionsRecommendations on Good Corporate Governance implementation at the Company serve as important inputs for future implementation of Good Corporate Governance. Hence, the implementation of Good Corporate Governance will become more meaningful and the improvement plan shall always be carried out regularly. Several recommendations, along with the follow-up actions, are as follows:

NO. ASPEK TATA KELOLAGovernance Aspect

BOBOTValue

CAPAIANAchievement PENJELASAN

DescriptionSKORScore (%%)

1 Komitmen Terhadap Penerapan Tata Kelola secara BerkelanjutanCommitment to Sustainable Good Corporate Governance Implementation

35% 85 29,75 BaikGood

2 Pemegang Saham dan RUPS/Pemilik ModalShareholders and GMS/Investors 30% 85 25,50 Baik

Good

3 Dewan Komisaris/Dewan Pengawas Board of Commissioners/Supervisory Board 10% 80 8 Baik

Good

4 DireksiBoard of Directors 10% 85 8,50 Baik

Good

5 Pengungkapan Informasi dan TransparansiInformation Disclosure and Transparency 10% 85 8,50 Baik

Good

6 Faktor LainnyaOther Factors 5% 80 4 Baik

Good

Total 100,00 84,25 BaikGood

REKOMENDASIRecommendation

TINDAK LANJUTFollow-Up

Peningkatan pencapaian Dewan Komisaris dalam keikutsertaan penerapan Good Corporate GovernanceImprtoving Board of Commissioners’ achievement in participating in Good Corporate Governance Implementation

Melakukan sosialisasi Good Corporate Governance secara berkala sehingga Dewan Komisaris mendapatkan pemahaman secara komprehensifConducting dissemination of Good Corporate Governance in a regular manner so that the Board of Commissioners can obtain a more comprehensive understanding

Efektivitas Whistleblowing System (WBS) ke seluruh karyawan dan pihak terkait lainnya sehingga mendorong karyawan untuk berpartisipasi ke arah budaya kejujuran dan keterbukaanImproving the effectiveness of Whistleblowing System at all employees and other related parties; thus, encouraging the employees to take part in the culture of honesty, integrity, and transparency

Melakukan sosialisasi dan jaminan perlindungan untuk pelaporan WBS sehingga pelapor mendapatkan rasa aman untuk melaporkan hal-hal yang melanggar GCG dan Kode Etik PerseroanConducting dissemination and providing protection in terms of WBS reporting; thus, the whistleblower may feel safe to report actions that violated GCG and Code of Conduct of the Company

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Penerapan atas Pedoman Tata Kelola Perusahaan Terbuka

A. Hubungan Perusahaan Terbuka Dengan Pemegang Saham Dalam Menjamin Hak-Hak Pemegang Saham

Prinsip 1 Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham.

Prinsip 2Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.

Implementation of Corporate Governance for Public Companies

A. Relationship of Public Company with Shareholders in Ensuring Shareholders’ Rights

Principle 1Improving the Value of Convention of General Meeting of Shareholders

Principle 2Improving the Communication Quality of Public Companies with Shareholders or Investors.

NO. REKOMENDASIRecommendation


1 Perusahaan Terbuka memiliki cara atau prosedur teknis pengumpulan suara (voting) baik secara terbuka maupun tertutup yang mengedepankan independensi, dan kepentingan pemegang saham.Public Companies have a technical method or procedure for voting, either openly or in a closed manner, that prioritizes independency and shareholders’ interest.

Sudah memenuhi.Comply.

Tata cara pengumpulan suara (voting) diatur dalam tata tertib Rapat Umum Pemegang Saham.Procedures for voting are contained in General Meeting of Shareholders’ rules.

2 Seluruh anggota Direksi dan anggota Dewan Komisaris Perusahaan Terbuka hadir dalam Rapat Umum Pemegang Saham Tahunan. All members of the Board of Directors and Board of Commissioners attend the Annual General Meeting of Shareholders.


Seluruh anggota Direksi dan Dewan Komisaris menghadiri Rapat Umum Pemegang Saham 2017.All members of the Board of Directors and Board of Commissioners attend the 2017 General Meeting of Shareholders.

3 Ringkasan risalah Rapat Umum Pemegang Saham tersedia dalam Situs Web Perusahaan Terbuka paling sedikit selama 1 (satu) tahun.Summary of General Meeting of Shareholders is available on the Company’s official website at least for 1 (one) year.


Risalah Rapat Umum Pemegang Saham telah tersedia dalam situs web Perseroan. Minutes of General Meeting of Shareholders are available on the Company’s website.

4 Laporan Tahunan, materi Rapat umum Pemegang Saham termasuk formulir Surat Kuasa dan Tata Tertib Rapat untuk Pemegang Saham telah tersedia di situs web Perseroan 30 (tiga puluh) hari sebelum Rapat Umum Pemegang Saham dilaksanakan, sehingga Pemegang Saham dapat dengan mudah mempelajari materi Rapat Umum Pemegang Saham tersebutAnnual Report, Materials for General Meeting of Shareholders, including forms of Power of Attorney and Meeting Procedures for shareholders are available on the Company’s website in 30 (thirty) days prior to the convention of General Meeting of Shareholders, so that the Shareholders can easily read the materials for General Meeting of Shareholders.


Laporan Tahunan, Materi Rapat Umum Pemegang Saham termasuk formulir Surat Kuasa dan Tata Tertib Rapat telah tersedia di situs web Perseroan.Annual Report, Materials for General Meeting of Shareholders, including forms of Power of Attorney and Meeting Procedures have been provided on the Company’s website.



1 Perusahaan Terbuka memiliki suatu kebijakan komunikasi dengan Pemegang Saham atau Investor. Public Company has a policy on communication with Shareholders or Investors.


Kebijakan komunikasi dengan Pemegang Saham atau Investor termasuk dalam kode etik Perseroan.Policy on communication with Shareholders or Investors is stipulated in the Company’s Code of Conduct.


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B. Fungsi dan Peran Dewan Komisaris

Prinsip 3Memperkuat Keanggotaan dan Komposisi Dewan Komisaris.

Prinsip 4Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.

B. Functions and Roles of Board of Commissioners

Principle 3Strengthening the Membership and Composition of Board of Commissioners.

Principle 4Improving the Quality of Duties and Responsibilities of Board of Commissioners.



1 Dewan Komisaris mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris. The Board of Commissioners has self- assessment to assess the performance of the Board of Commissioners.


Self Assessment atas kinerja Dewan Komisaris telah diungkapkan sebagaimana mengacu pada self assessment Good Corporate Governance.Self-assessment on the performance of Board of Commissioners has been disclosed in reference to the self-assessment of Good Corporate Governance.

2 Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris, diungkapkan melalui Laporan Tahunan Perusahaan Terbuka. Policy on self-assessment to assess the performance of the Board of Commissioners is disclosed in Annual Report.


Perseroan mengungkapkan kebijakan ini dalam laporan tahunan. The policy is affirmed in the Company’s annual report.



1 Penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi Perusahaan Terbuka. Determination of members of the Board of Commissioners considers Public Company’s condition.


Saat ini Dewan Komisaris perusahaan beranggotakan 4 orang. Jumlah ini telah disesuaikan dengan karakteristik, kapasitas, dan ukuran perusahaan. The current Board of Commissioners is composed of 4 people. The quantity has been adjusted to the Company’s characteristics, capacity and size.

2 Penentuan komposisi anggota Dewan Komisaris memperhatikan keberagaman keahlian, pengetahuan dan pengalaman yang dibutuhkan. Determination of composition of members of the Board of Commissioners considers the diversity of the required expertise, knowledge, and experience.


Anggota Dewan Komisaris mempunyai beragam keahlian, pengetahuan dan pengalaman yang dibutuhkan Perseroan. Members of Board of Commissioners have various expertise, knowledge and experience required by the Company.

2 Perusahaan Terbuka mengungkapkan kebijakan komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor dalam situs web. Public Company discloses policy on communication with Shareholders or Investors on a website.


Penyampaian informasi Perseroan telah memenuhisyarat Keterbukaan Informasi bagi pemegang saham dan investor.Submission of information by the Company has made the requirements of information disclosure for the Shareholders and Investors

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3 Dewan Komisaris mempunyai kebijakan terkait pengunduran diri anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan. The Board of Commissioners has policy on resignation of member of the Board of Commissioners if he is involved in financial crime.


Piagam Komisaris telah menyatakan bahwa anggota Dewan Komisaris wajib berkomitmen untuk mematuhi peraturan perundang-undangan yang berlaku. Pemberhentian anggota Dewan Komisaris diatur dalam Piagam Komisaris dan anggaran dasar. The Board of Commissioners’ Charter states that members of Board of Commissioners are obliged to commit themselves to complying with the prevailing laws and regulations. Dismissal of members of Board of Commissioners is stipulated in the Board of Commissioners’ Charter and Articles of Association.

4 Dewan Komisaris atau komite yang menjalankan fungsi nominasi dan remunerasi menyusun kebijakan suksesi dalam proses nominasi anggota Direksi.The Board of Commissioners or Committee running the Nomination and Remuneration functions shall prepare policy of succession in Nomination process of the Board of Directors.


Piagam Komisaris telah menyatakan bahwa Dewan Komisaris bertanggung jawab membuat rekomendasi dalam kaitan dengan pencalonan dan pengupahan Direksi dan Dewan Komisaris.The Board of Commissioners’ Charter states that the Board of Commissioners is responsible for making recommendations in relation to the nomination and remuneration of the Board of Directors and Board of Commissioners.

C. Fungsi dan Peran Direksi

Prinsip 5Memperkuat Keanggotaan dan Komposisi Direksi.

C. Functions and Roles of Board of Directors

Principle 5Strengthening Membership and Composition of Board of Directors



1 Direksi mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi. The Board of Directors has self-assessment to assess the performance of the Board of Directors.


Hal ini tertuang dalam piagam Direksi dan telah dikemukakan dalam laporan tahunan This has been stipulated in the Board of Directors’ Charter and has been stated in the annual report.

2 Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi diungkapkan melalui Laporan Tahunan Perusahaan Terbuka.Policy on self-assessment to assess the performance of the Board of Directors is disclosed in annual report of the Company.


Perseroan menegaskan kebijakan ini dalam laporan tahunan perseroan. The policy is affirmed in the Company’s annual report

3 Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat dalam kejahatan keuangan. The Board of Directors has policy on resignation of members of the Board of Directors if he/she is involved in financial crime.


Piagam Direksi telah menyatakan bahwa anggota Direksi wajib berkomitmen untuk mematuhi peraturan perundang-undangan yang berlaku. Pemberhentian anggota Direksi diatur dalam piagam Direksi dan anggaran dasar. The Board of Directors’ Charter states that members of Board of Directors are obliged to commit themselves to complying with the prevailing laws and regulations. Dismissal of members of Board of Directors is stipulated in the Board of Directors’ Charter and Articles of Association.


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D. Partisipasi Pemangku Kepentingan

Prinsip 7Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.

Prinsip 6 Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi.

D. Stakeholders Engagement

Principle 7Improving Corporate Governance Aspect through Stakeholders’ Engagement.

Principle 6Improving the Quality of Duties and Responsibilities of Board of Directors.



1 Perusahaan Terbuka memiliki kebijakan untuk mencegah terjadinya insider trading. Public Company has policy to prevent insider trading.


Kebijakan ini merupakan bagian dari kode etik perusahaan. The policy is a part of the Company’s code of conduct.

2 Perusahaan Terbuka memiliki kebijakan anti korupsi dan anti fraud. Public Company has anti-corruption and anti- fraud policies.


Kebijakan ini merupakan bagian dari kode etik perusahaan.The policy is a part of the Company’s code of conduct.

3 Perusahaan Terbuka memiliki kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor. Public Company has policy on selection and improvement of capability of suppliers or vendors.



4 Perusahaan Terbuka memiliki kebijakan tentang pemenuhan hak-hak kreditur. Public Company has policy on fulfillment of rights of creditors.





1 Direksi mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi.The Board of Directors has self-assessment to assess the performance of the Board of Directors.


Hal ini tertuang dalam piagam Direksi dan telah dikemukakan dalam laporan tahunan This has been stipulated in the Board of Directors’ Charter and has been stated in the annual report.

2 Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi diungkapkan melalui Laporan Tahunan Perusahaan Terbuka.Policy on self-assessment to assess the performance of the Board of Directors is disclosed in annual report of the Company.


Perseroan menegaskan kebijakan ini dalam laporan tahunan perseroan. The policy is affirmed in the Company’s annual report

3 Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat dalam kejahatan keuangan.The Board of Directors has policy on resignation of members of the Board of Directors if he/she is involved in financial crime.


Piagam Direksi telah menyatakan bahwa anggota Direksi wajib berkomitmen untuk mematuhi peraturan perundang-undangan yang berlaku. Pemberhentian anggota Direksi diatur dalam piagam Direksi dan anggaran dasar. The Board of Directors’ Charter states that members of Board of Directors are obliged to commit themselves to complying with the prevailing laws and regulations. Dismissal of members of Board of Directors is stipulated in the Board of Directors’ Charter and Articles of Association.

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7

Maison Aurelia SanurBali

Prinsip 8Meningkatkan Pelaksanaan Keterbukaan Informasi.

Principle 8Improving the Implementation of Information Disclosure.



1 Perusahaan Terbuka memanfaatkan penggunaan teknologi informasi secara lebih luas selain Situs Web sebagai media keterbukaan informasi.Public Company utilizes information technology in a broader way in addition to Website as media for information disclosure.


Perusahaan telah menggunakan teknologi informasi sebagai media keterbukaan informasi, seperti surat kabar, web, dan lain-lain. The Company uses information technology as information disclosure media, such as newspaper, website and so on.

2 Laporan Tahunan Perusahaan Terbuka mengungkapkan pemilik manfaat akhir dalam kepemilikan saham Perusahaan Terbuka paling sedikit 5% (lima persen), selain pengungkapan pemilik manfaat akhir dalam kepemilikan saham Perusahaan Terbuka melalui pemegang saham utama dan pengendali.The Annual Report of Public Company discloses the ultimate beneficiary owner in share ownership in the Company at least 5% (five percent), in addition to disclosure of ultimate beneficiary owner in share ownership in the Company through major and controlling shareholders


Perusahaan telah mengungkapkan pemegang saham dengan kepemilikan diatas 5% sesuai dengan peraturan yang berlaku. Namun, perusahaan tidak mempunyai data manfaat akhir dari setiap pemegang saham tersebut. The Company has disclosed the shareholder with ownership of more than 5% in accordance with the prevailing regulations. However, the Company has no data on ultimate beneficiary owner of each shareholder.


5 Perusahaan Terbuka memiliki kebijakan Whistleblowing System (WBS) Public Company has policy on Whistleblowing System (WBS).


Perusahaan telah mempunyai kebijakan Whistleblowing System (WBS) dan telah diungkapkan dalam Laporan Tahunan.The Company has established a policy on Whistleblowing System (WBS) which has been disclosed in the Annual Report.

6 Perusahaan Terbuka memiliki kebijakan pemberian insentif jangka panjang kepada Direksi dan Karyawan. Public Company has policy on long-term incentive provision to the Board of Directors and employees.


Kebijakan ini sudah termasuk dalam kebijakan internal Perusahaan.The policy is a part of the Company’s internal policy.

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STRUKTUR DAN MEKANISME TATA KELOLA PERUSAHAANStructure and Mechanism of Corporate Governance

Struktur Tata Kelola

Berdasarkan Undang-undang No. 40 tahun 2007 Bab I Mengenai Ketentuan Umum Pasal 1, Organ Perseroan terdiri dari Rapat Umum Pemegang Saham, Dewan Komisaris dan Direksi.• Rapat Umum Pemegang Saham adalah organ

Perseroan yang mempunyai wewenang yang tidak diberikan kepada Direksi atau Dewan Komisaris dalam batas yang ditentukan dalam Undang Undang dan/atau Anggaran Dasar.

• Dewan Komisaris adalah organ Perseroan yang bertugas melakukan pengawasan secara umum dan/atau khusus sesuai dengan Anggaran Dasar serta memberi saran kepada Direksi.

• Direksi adalah organ Perseroan yang berwenang dan bertanggung jawab penuh atas pengurusan Perseroan untuk kepentingan Perseroan, sesuai dengan maksud dan tujuan Perseroan serta mewakili Perseroan, baik di dalam maupun di luar pengadilan sesuai dengan ketentuan Anggaran Dasar.

Infrastruktur Tata Kelola

Infrastruktur Tata Kelola yang telah dimiliki oleh Perseroan antara lain:• Anggaran Dasar• Piagam Dewan Komisaris• Piagam Direksi• Piagam Audit Internal• Kode Etik Perseroan (Code of Conduct)• Sistem Pelaporan Pelanggaran atau

Whistleblowing System (WBS)

Mekanisme Tata Kelola

Mekanisme Tata Kelola merupakan proses penerapan prinsip yang didukung oleh kecukupan struktur dan infrastruktur tata kelola Perseroan, sehingga menghasilkan yang sesuai dengan

Governance Structure

Pursuant to the Chapter I, Article I of Law No. 40 of 2007 regarding General Provision, the Company’s organs consist of General Meeting of Shareholders, Board of Commissioners and Board of Directors.• The General Meeting of Shareholders is an

organ of the Company with an authority that is not granted to the Board of Directors and Board of Commissioners within the limit set in the Laws and/or Articles of Association.

• The Board of Commissioners is an organ of the Company with a function to conduct general and/or specific supervision in accordance with the Articles of Association and to provide advice to the Board of Directors.

• The Board of Directors is an organ of the Company with the full authority and responsibility for managing the Company, for the Company’s interest in accordance with its objectives and purposes, and for representing the Company both inside and outside the court in accordance with the Articles of Association.

Governance Infrastructure

Governance infrastructure established by the Company covers:• Articles of Association• Board of Commissioners Charter• Board of Directors Charter• Internal Audit Charter• Code of Conduct• Whistleblowing System (WBS)

Governance Mechanism

The Governance Mechanism is a principle implementation process that is supported by the adequacy of Company’s governance structure and infrastructure, so as to be able to generate results

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harapan pemangku kepentingan Perseroan. Proses penerapan melekat pada struktur organ tata kelola yang meliputi Rapat Umum Pemegang Saham, Dewan Komisaris, Direksi, Komite Audit di bawah Dewan Komisaris, Sekretaris Perusahaan, dan Internal Audit.

in accordance with stakeholders’ expectations. The implementation process is inherent in the structure of governance organs which include the General Meeting of Shareholders, Board of Commissioners, Board of Directors, Audit Committee under the Board of Commissioners, Corporate Secretary, and Internal Audit.

RAPAT UMUMPEMEGANG SAHAMGeneral Meeting of Shareholders

Rapat Umum Pemegang Saham (RUPS) merupakan organ Perseroan Terbatas yang tertinggi. RUPS mempunyai hak dan kewenangan yang tidak dimiliki oleh Direksi dan Komisaris. Dengan demikian, RUPS merupakan organ yang tertinggi di dalam Perseroan. Keputusan yang diambil dalam RUPS didasarkan pada kepentingan Perseroan, serta dilakukan secara wajar dan transparan. RUPS memiliki wewenang yang tidak diberikan kepada Direksi dan Dewan Komisaris sebagaimana diatur dalam Anggaran Dasar Perseroan dan peraturan perundang-undangan yang berlaku.

Dasar hukum penyelenggaraan RUPS Perseroan mengacu pada:• Undang-undang No. 40 Tahun 2007 tentang

Perseroan Terbatas.• POJK No. 32/POJK.04/2014 tanggal 8

Desember 2014 tentang Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka dan POJK No. 10/POJK.04/2017 tanggal 14 Maret 2017 tentang Perubahan atas POJK No. 32/POJK.04/2014.

• Anggaran Dasar Perseroan.

Mekanisme Penyelenggaraan RUPS

Pada tahun 2018, Perseroan menyelenggarakan Rapat Umum Pemegang Saham Tahunan yang dilaksanakan pada tanggal 26 Juni 2018 bertempat di Meeting Room Harris Suites fX Sudirman- Jakarta.

The General Meeting of Shareholders (GMS) is the highest organ within a Limited Liability Company. GMS has rights and authority not granted to the Board of Directors and Board of Commissioners. As it is the highest organ in the Company, resolutions made in the GMS are based on the Company’s interest and conducted in a fair and transparent manner. The authority of GMS is stipulated in the Company’s Articles of Association as well as the prevailing laws and regulations.

Legal bases of GMS convention of the Company refer to:• The Law No. 40 of 2007 regarding Limited

Liability Company.• POJK No. 32/POJK.04/2014 dated 8 December

2014, regarding Plan and Convention of General Meeting of Shareholders of Public Company and POJK No. 10/POJK.04/2017 dated 14 March 2017, regarding Amendment to POJK No. 32/POJK.04/2014 The Law No. 40 of 2007 regarding Limited Liability Company.

• Company’s Articles of Association.

Mechanism to Convene GMS

On 26 June 2018, the Company convened Annual General Meeting of Shareholders at the Meeting Room of Harris Suites fX Sudirman- Jakarta.


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Mekanisme penyelenggaran RUPS Tahunan 2018 dilaksanakan sesuai dengan ketentuan dalam Anggaran Dasar Perseroan dan POJK No. 32/POJK.04/2014 tentang Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka serta POJK No. 10/POJK.04/2017 tanggal 14 Maret 2017 tentang Perubahan atas POJK No. 32/POJK.04/2014.

Proses penyelenggaraan RUPS Tahunan 2018 adalah sebagai berikut:

Mechanism to convene the 2018 Annual GMS has been carried out according to the stipulations contained in the Company’s Articles of Association and POJK No. 32/POJK.04/2014 regarding Plan and Convention of General Meeting of Shareholders of Public Company, as well as POJK No. 10/POJK.04/2017 dated 14 March 2017, regarding Amendment to POJK No. 32/POJK.04/2014.

The 2018 Annual GMS convention procedure is as follows:

TANGGAL & WAKTU Date & Time

26 Juni 2018, Pkl. 15.12 WIB 26 June 2018 at 15.12 WIB

TEMPATVenue Meeting Room Harris Suites fX Sudirman- Jakarta

KUORUM Quorum 98,23%

PIMPINAN RAPAT Chairman of the Meeting Todo Sihombing

KEHADIRAN ANGGOTA DEWAN KOMISARIS TERMASUK PRESIDEN KOMISARISAttendance of members of Board of Commissioners, including the President Commissioner

75%

KEHADIRAN KETUA KOMITE AUDIT DAN ANGGOTA KOMITE AUDIT Attendance of the Head and members of Audit Committee

100%

KEHADIRAN ANGGOTA DIREKSI TERMASUK PRESIDEN DIREKTUR Attendance of members of Board of Directors, including the President Director

100%

PIHAK INDEPENDEN UNTUK MELAKUKAN PENGHITUNGAN KUORUM DAN PEMUNGUTAN SUARA KEPUTUSAN RUPS Independent Party to calculate the quorum and voting in the GMS

Notaris yang ditunjuk PerseroanNotary appointed by the Company

JUMLAH PEMEGANG SAHAM YANG MENGAJUKAN PERTANYAAN DAN/ATAU MEMBERIKAN PENDAPAT PADA RUPSTotal shareholders delivering inquiries and/or submitting opinions in GMS

Tidak adaNone

MEKANISME PENGAMBILAN KEPUTUSAN RUPS Mechanism to establish General Meeting of Shareholders resolutions

Melalui sistem pengumpulan suara (voting) secara tertutup yang mengedapankan independensi dan kepentingan pemegang sahamThrough closed voting system that prioritized independency and interests of shareholders

Keputusan RUPS Tahunan 2018

Pada tahun 2018, Perseroan telah mengadakan satu kali RUPS Tahunan yang telah dinyatakan dan diaktakan di hadapan Notaris melalui berita acara sebagai berikut:

Resolutions of 2018 Annual GMS

In 2018, the Company convened one Annual GMS which had been stated and notarized before a Notary in the following minutes:

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Mata Acara Rapat Umum Pemegang Saham Tahunan:1. Persetujuan atas Laporan Tahunan Perseroan

dan Pengesahan Laporan Keuangan Audit Konsolidasian Perseroan & Entitas Anak untuk Tahun Buku 2017 serta pemberian pembebasan tanggung jawab (acquit et de charge) kepada anggota Direksi dan Dewan Komisaris Perseroan atas pengurusan dan pengawasan yang dijalankan selama Tahun Buku 2017;

2. Persetujuan Penetapan Penggunaan Laba Bersih Perseroan untuk Tahun Buku 2017;

3. Persetujuan penunjukan Kantor Akuntan Publik untuk Tahun Buku 2018; dan

4. Penetapan besarnya honorarium bagi anggota Dewan Komisaris Perseroan untuk Tahun Buku 2018, serta pelimpahan wewenang kepada Dewan Komisaris Perseroan untuk menetapkan besarnya remunerasi bagi anggota Direksi Perseroan untuk Tahun Buku 2018.

Mata Acara Rapat Umum Pemegang Saham Luar Biasa:1. Persetujuan atas rencana Perseroan untuk

mengalihkan aset Perseroan berupa saham dimana pengalihan tersebut bersifat material;

2. Persetujuan atas rencana Perseroan untuk melakukan investasi bersifat material ; dan

3. Persetujuan atas rencana Perseroan untuk menjaminkan sebagian besar asetnya terkait dengan pinjaman kepada pihak ketiga.

Realisasi dan Keputusan RUPS Tahunan Sebelumnya

Informasi mengenai agenda, keputusan dan realisasi keputusan RUPS Tahunan 2018 adalah sebagai berikut:

Agenda of Annual General Meeting of Shareholders:1. Approval for the Company’s Annual Report

and Validation of Consolidated Financial Statements of the Company and Subsidiaries for the 2017 fiscal year, as well as granting of release and discharge (acquit et de charge) to the Company’s Board of Directors and Board of Commissioners for their management and supervision duties conducted during the 2017 Fiscal Year;

2. Approval for the Determination of the Use of Company’s Net Profit for 2017 Fiscal Year;

3. Approval for the appointment of Public Accounting Firm for the 2018 Fiscal Year; and

4. Determination of the amount of honorarium for members of Company’s Board of Commissioners for 2018 Fiscal Year, and granting of authority to the Company’s Board of Commissioners to determine the amount of remuneration for the members of Company’s Board of Directors for the 2018 Fiscal Year.

Agenda of Extraordinary General Meeting of Shareholders:1. Approval for the Company’s plans to transfer

a portion of its assets in the form of shares, which is regarded as a material transaction;

2. Approval for the Company’s plans to conduct investment, which is regarded as a material transaction; and

3. Approval for the Company’s plans to pledge most of its assets in relation to loans from third parties.

Realization and Resolution of Annual GMS of the Previous Year

Information on agenda, resolution, and realization of resolution of the 2018 Annual GMS is as follows:


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AGENDA DAN KEPUTUSAN AGENDA AND RESOLUTION REALISASIRealization

Persetujuan atas Laporan Tahunan Perseroan dan Pengesahan Laporan Keuangan Audit Konsolidasian Perseroan & Entitas Anak untuk Tahun Buku 2017 serta pemberian pembebasan tanggung jawab (acquit et de charge) kepada anggota Direksi dan Dewan Komisaris Perseroan atas pengurusan dan pengawasan yang dijalankan selama Tahun Buku 2017.

Approval for the Company’s Annual Report and Validation of Consolidated Financial Statements of the Company and Subsidiaries for the 2017 fiscal year, as well as granting of release and discharge (acquit et de charge) to the Company’s Board of Directors and Board of Commissioners for their management and supervision duties conducted during the 2017 Fiscal Year.

TerealisasiRealized

Persetujuan Penetapan Penggunaan Laba Bersih Perseroan untuk Tahun Buku 2017.

Approval for the Determination of the Use of Company’s Net Profit for 2017 Fiscal Year.

TerealisasiRealized

Persetujuan penunjukan Kantor Akuntan Publik untuk Tahun Buku 2018.

Approval for the appointment of Public Accounting Firm for the 2018 Fiscal Year.

TerealisasiRealized

Penetapan besarnya honorarium bagi anggota Dewan Komisaris Perseroan untuk Tahun Buku 2018, serta pelimpahan wewenang kepada Dewan Komisaris Perseroan untuk menetapkan besarnya remunerasi bagi anggota Direksi Perseroan untuk Tahun Buku 2018.

Determination of the amount of honorarium for members of Company’s Board of Commissioners for 2018 Fiscal Year, and granting of authority to the Company’s Board of Commissioners to determine the amount of remuneration for the members of Company’s Board of Directors for the 2018 Fiscal Year.

TerealisasiRealized

Persetujuan atas rencana Perseroan untuk mengalihkan aset Perseroan berupa saham dimana pengalihan tersebut bersifat material.

Approval for the Company’s plans to transfer a portion of its assets in the form of shares, which is regarded as a material transaction.

Juni 2019June 2019

Persetujuan atas rencana Perseroan untuk melakukan investasi bersifat material.

Approval for the Company’s plans to conduct investment, which is regarded as a material transaction.

Juni 2019June 2019

Persetujuan atas rencana Perseroan untuk menjaminkan sebagian besar asetnya terkait dengan pinjaman kepada pihak ketiga.

Approval for the Company’s plans to pledge most of its assets in relation to loans from third parties.

Juni 2019June 2019


Dewan Komisaris merupakan organ tata kelola perusahaan yang melakukan fungsi pengawasan terhadap kegiatan pengelolaan Perseroan untuk memastikan bahwa Perseroan menjalankan usahanya sesuai dengan tujuan yang ditetapkan. Dewan Komisaris juga berwenang dalam mengawasi serta memastikan bahwa Direksi selalu mengedepankan kepentingan Pemegang Saham dan kebutuhan Perseroan, serta memastikan terlaksananya prinsip-prinsip Tata Kelola Perusahaan yang baik secara efektif dan efisien.

Dewan Komisaris wajib melaksanakan pengawasan dan memberikan saran terkait pelaksanaan tugas dan tanggung jawab Direksi serta fungsi lain yang ditetapkan Anggaran Dasar maupun peraturan

The Board of Commissioners is an organ of corporate governance which performs supervision on the Company’s management activities, to ensure that the Company conducts its business in accordance with the objectives. The Board of Commissioners is authorized to supervise the Board of Directors and ensure that they always prioritize the interests of Shareholders and the needs of the Company, as well as the implementation of good corporate governance principles in an effective and efficient manner.

The Board of Commissioners is required to supervise and provide advice regarding the implementation of duties and responsibilities of the Board of Directors and other functions

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NAMAName

JABATANPosition

PERIODE JABATAN Term of Office

DASAR HUKUM PENGANGKATAN Legal Basis of Appointment

TANGGAL EFEKTIFEffective Date

Todo Sihombing

Presiden Komisaris merangkap Komisaris Independen President Commissioner cum Independent Commissioner

12 Juni 2015 s/d 12 Juni 202012 June 2015 to 12 June 2020

Akta Pernyataan Keputusan Rapat No. 144, tanggal 12 Juni 2015Deed of Statement of Meeting Resolution No. 144 dated 12 June 2015

12 Juni 201512 June 2015

Hadi Cahyadi

Wakil Presiden Komisaris merangkap Komisaris IndependenVice President Commissioner cum Independent Commissioner



12 Juni 201512 June 2015

Amelia Gozali

KomisarisCommissioner



12 Juni 201512 June 2015

stipulated in the Articles of Association and the laws and regulations. In fulfilling their duties and responsibilities, the Board of Commissioners must act independently.

Legal Basis

The legal basis for the appointment of Company’s Board of Commissioners refers to several provisions, including:• The Law No. 40 of 2007 regarding Limited

Liability Companies.• The Regulation of Financial Services Authority

No. 33/POJK.04/2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company.

• The Company’s Articles of Association

Composition of Board of Commissioners

The Board of Commissioners is appointed through the General Meeting of Shareholders. As of 31 December 2018, Board of Commissioners’ composition consists of one President Commissioner and a total of 3 (three) Commissioners. Based on the Deed of Statement of Meeting Resolution No. 144, dated 12 June 2015, drawn up before Dr. Irawan Soerodjo, SH., MSi., Notary in Jakarta, of which the notification has been received by the Ministry of Justice and Human Rights through Receipt of Notification of the Company’s Data Change No. AHU-AH.01.03-0941519, dated 15 June 2015, the composition of Company’s Board of Commissioners is as follows:

perundang-undangan. Dalam memenuhi tugas dan tanggung jawabnya, Dewan Komisaris wajib bertindak secara independen.

Dasar Hukum

Dasar hukum penunjukan Dewan Komisaris Perseroan mengacu pada beberapa ketentuan, antara lain:• Undang Undang No. 40 tahun 2007 tentang

Perseroan Terbatas.• Peraturan Otoritas Jasa Keuangan No. 33/

POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

• Anggaran Dasar Perseroan

Susunan Anggota Dewan Komisaris

Dewan Komisaris diangkat melalui Rapat Umum Pemegang Saham. Hingga 31 Desember 2018, komposisi Dewan Komisaris Undang terdiri dari seorang Presiden Komisaris, dengan 3 (tiga) orang anggota Komisaris. Adapun komposisi Dewan Komisaris Perseroan berdasarkan Akta Pernyataan Keputusan Rapat No. 144, tanggal 12 Juni 2015, dibuat di hadapan Dr. Irawan Soerodjo, SH., MSi., Notaris di Jakarta, sebagaimana telah diterima pemberitahuannya oleh Menteri Hukum dan Hak Asasi Manusia melalui Surat Penerimaan Pemberitahuan Perubahan Data Perseroan No. AHU-AH.01.03-0941519, tanggal 15 Juni 2015,adalah sebagai berikut:


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Karel Patipeilohy




12 Juni 201512 June 2015

Pedoman atau Piagam Dewan Komisaris

Pelaksanaan tugas dan tanggung jawab Dewan Komisaris mengacu Anggaran Dasar Perseroan serta peraturan perundang-undangan yang berlaku dan menjadi Pedoman Tata Tertib Kerja Dewan Komisaris. Pedoman Tata Tertib Kerja Dewan Komisaris senantiasa disempurnakan dan disesuaikan sesuai dengan peraturan dan ketentuan yang berlaku di Indonesia yang mengikat bagi setiap anggota Dewan Komisaris.

Tugas dan Tanggung Jawab

Sesuai dengan Anggaran Dasar Perseroan serta peraturan terkait tata kelola perusahaan yang baik, Dewan Komisaris bertugas untuk mengawasi tindakan Direksi dan memberikan nasihat kepada Direksi terkait pengurusan operasional Perseroan.

Secara lebih terperinci, tugas pokok Dewan Komisaris Perseroan diatur dalam Undang-Undang Nomor 40 tahun 2007 tentang Perseroan Terbatas, Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik dan Anggaran Dasar Perseroan. Anggaran Dasar Perseroan sendri mewajibkan Direksi untuk meminta persetujuan terlebih dahulu dari Dewan Komisaris sebelum melakukan tindakan-tindakan yang penting dan material. Pemberian persetujuan dari Dewan Komisaris tertuang dalam Persetujuan Dewan Komisaris yang khusus dibuat terkait hal tersebut.

Guidelines or Charter of Board of Commissioners

The duties and responsibilities of Board of Commissioners are conducted in reference to the Company’s Articles of Association and the prevailing laws and regulations, which serve as the Guidelines or Charter of Board of Commissioners. This charter is continuously improved and adjusted in accordance with the applicable regulations in Indonesia, and binds each member of the Company’s Board of Commissioners.

Duties and Responsibil it ies

Pursuant to the Company’s Articles of Association and regulations of Good Corporate Governance, the Board of Commissioners functions to monitor Board of Directors’ action and provide advice on operational management.

In details, the primary duties of Board of Commissioners are regulated in the Law No. 40 of 2007 regarding Limited Liability Company, Regulation of Financial Services Authorities No. 33/POJK.04/2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company, and Company’s Articles of Association. As stipulated in the Articles of Association, the Board of Directors must request for Board of Commissioners’ approval prior to performing significant and material actions. Approval granting from the Board of Commissioners is stated in Board of Commissioners Approval Statement, which is particularly drafted for such purpose.

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Kebijakan Mengenai Penilaian Kinerja Dewan Komisaris

Penilaian kinerja Dewan Komisaris dilakukan dengan metode self assessment yang akan dilakukan setiap tahun. Kriteria penilaian yang digunakan adalah pengkajian pelaksanaan tugas dan tanggung jawab berdasarkan pedoman kerja Dewan Komisaris. Hasil dari self assessment menyatakan bahwa sepanjang tahun 2018, Dewan Komisaris secara efektif melaksanakan tugas dan tanggung jawab dengan baik.

Penilaian Kinerja Komite Audit

Perseroan memiliki Komite Audit yang bertugas membantu pengawasan Dewan Komisaris, sepanjang 2018 Komite Audit sangat membantu Dewan Komisaris melalui saran dan rekomendasinya untuk mengarahkan pengelolaan Perseroan. Sepanjang tahun 2018, Komite Audit telah menjalankan tugasnya dengan baik berdasarkan pembahasan dalam rapat Dewan Komisaris.

Performance Assessment Policy for Board of Commissioners

The Board of Commissioners’ performance is assessed using self-assessment method that is conducted annually. Assessment criteria include reviewing the implementation of their duties and responsibilities based on the Charter of Board of Commissioners. In 2018, the result of self-assessment stated that the Board of Commissioners carried out their duties and responsibilities properly and effectively.

Performance Assessment of Audit Committee

The Company has established Audit Committee that is tasked to assist the supervisory function of Board of Commissioners. In 2018, the Audit Committee provided significant assistance through their inputs and recommendations in directing the Company’s management. The Audit Committee also conducted their duties properly based on the discussion in the meetings of Board of Commissioners.


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KOMISARIS INDEPENDENIndependent Commissioner

Kriteria Penentuan dan Jumlah Komisaris Independen

Kriteria Komisaris Independen mengacu pada ketentuan Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 tanggal 8 Desember 2014 tentang Direksi dan Dewan Komisaris Emiten Atau Perusahaan Publik. Adapun kriteria Komisaris Independen adalah sebagai berikut:

• Tidak mempunyai saham baik langsung maupun tidak langsung pada Perseroan;

• Tidak mempunyai hubungan afiliasi dengan Perseroan, anggota Dewan Komisaris, anggota Direksi, atau pemegang saham utama; dan

• Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Perseroan.

Anggota Komisaris Independen dipilih berdasarkan kriteria sesuai dengan peraturan dan perundang-undangan yang berlaku. Dari sisi kuantitas, jumlah Komisaris Independen Perseroan juga telah memenuhi kriteria yang ditetapkan yakni sebanyak paling kurang 30% dari total anggota Dewan Komisaris.

Pernyataan Independensi

Komisaris Independen adalah anggota Dewan Komisaris yang berasal dari luar Perseroan dan memenuhi persyaratan sebagai Komisaris Independen sebagaimana dimaksud dalam Peraturan Otoritas Jasa Keuangan. Todo Sihombing dan Hadi Cahyadi yang menjabat sebagai Komisaris Independen Perseroan telah menyatakan bahwa:• Tidak mempunyai saham baik langsung

maupun tidak langsung pada Perseroan;• Tidak mempunyai hubungan afiliasi dengan

Perseroan, anggota Dewan Komisaris, Direksi, maupun pemegang saham pengendali Perseroan;

Determination Criteria and Number of Independent Commissioners

Criteria for Independent Commissioner refer to the Regulation of Financial Services Authority No. 33/POJK.04/2014 dated 8 December 2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company. The criteria for Independent Commissioner of the Company are as follows:• Have no shares, either directly or indirectly, in

the Company;• Have no affiliations with the Company,

members of Board of Commissioners, members of Board of Directors, or majority shareholders; and

• Have no business relations, either directly or indirectly, with the Company’s business activities.

The Independent Commissioner is appointed based on the criteria stipulated in accordance with the prevailing laws and regulations. In terms of quantity, total Independent Commissioners in the Company have met the set criteria, namely 30%, at the minimum, of the total members of Board of Commissioners.

Independency Statement

Independent Commissioner is a member of Board of Commissioners who originates from outside of the Company and meets the requirements for Independent Commissioner as stipulated in the Regulation of Financial Services Authority. Todo Sihombing and Hadi Cahyadi who serve as the Company’s Independent Commissioners have stated that they:• Have no shares, either directly or indirectly, in

the Company;• Have no affiliations with the Company, members

of Board of Commissioners, members of Board of Directors, or controlling shareholders;

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• Tidak memiliki hubungan keuangan, kepengurusan, kepemilikan saham dan/atau hubungan keluarga dengan anggota Dewan Komisaris, Direksi, maupun pemegang saham pengendali Perseroan;

• Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Perseroan.

• Have no financial and managerial relations, share ownership, and/or familial relations with members of Board of Commissioners, members of Board of Directors, or controlling shareholders of the Company;

• Have no business relations, either directly or indirectly, with the Company’s business activities


Direksi merupakan organ dalam pelaksanaan Tata Kelola yang baik yang bertanggung jawab penuh atas jalannya pengelolaan Perseroan untuk kepentingan dan tujuan Perseroan serta bertindak untuk dan atas nama mewakili kepentingan Perseroan dalam perkara di dalam maupun di luar pengadilan. Direksi Perseroan bertugas sesuai bidang kerja masing-masing, demi mencapai efektivitas pengelolaan dan pencapaian hasil yang maksimal. Dalam pelaksanaan tugasnya, Direksi senantiasa menjunjung tinggi sikap profesional, objektif, berpikiran strategis dan mengedepankan kepentingan Perseroan, untuk meningkatkan nilai tambah bagi Pemangku Kepentingan dan memastikan keberlanjutan usaha.

Dasar Hukum

Dasar hukum penunjukan Direksi mengacu pada beberapa ketentuan, antara lain:

• Undang Undang No. 40 tahun 2007 tentang Perseroan Terbatas.

• Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

• Anggaran Dasar Perseroan

The Board of Directors is one of the key organs in the implementation of Good Corporate Governance that is fully responsible for the management of the Company. The Board of Directors is authorized to act for and on behalf of the Company, to represent its interest both inside and outside the legal court. The Company’s Board of Directors is in charge of their respective fields of work, in order to achieve effectiveness in management activities and realize maximum results. In carrying out their duties, the Board of Directors always upholds professional, objective, and strategic-minded attitude and prioritizes the Company’s interests so as to increase added value for Stakeholders and ensure business sustainability.

Legal Basis

The legal basis for the appointment of Company’s Board of Directors refers to several provisions, including:• The Law No. 40 of 2007 regarding Limited

Liability Companies.• The Regulation of Financial Services Authority

No. 33/POJK.04/2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company.

• The Company’s Articles of Association


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Susunan Anggota Direksi

Berdasarkan Akta Pernyataan Keputusan Rapat No. 15, tanggal 10 Juni 2016, komposisi Direksi Perseroan pada tanggal 31 Desember 2018 adalah sebagai berikut:

Composition of Board of Directors

Based on the Deed of Statement of Meeting Resolution No. 15 dated 10 June 2016, the composition of Company’s Board of Directors as of 31 December 2018 is as follows

NAMAName

JABATANPosition


DASAR HUKUM PENGANGKATAN Legal Basis of Appointment

TANGGAL EFEKTIFEffective Date



s/d Rapat Umum Pemegang Saham pada Tahun 2020 (dua ribu dua puluh)until the General Meeting of Shareholders of 2020 (two thousand and twenty)


10 June 2016





10 June 2016





10 June 2016


DirekturDirector



10 June 2016

Diana Solaiman

DirekturDirector



10 June 2016

Pedoman atau Piagam Direksi

Pelaksanaan tugas dan tanggung jawab Direksi mengacu pada Anggaran Dasar Perseroan dan peraturan perundang-undangan yang berlaku di Indonesia serta mengikat bagi setiap anggota Direksi. Hal itu menjadi Pedoman dan Tata Tertib kerja Direksi yang harus dipatuhi dan dijalankan dengan penuh tanggung jawab.

Guidelines or Charter of Board of Directors

The duties and responsibilities of Board of Directors are conducted in reference to the Company’s Articles of Association and the prevailing laws and regulations, which bind each member of the Board of Directors. The Charter also serves as the Guidelines or Charter of Board of Directors that must be obeyed and implemented responsibly.

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Secara umum, tugas dan tanggung jawab Direksi adalah:• Bertanggung jawab atas pengurusan

Perseroan untuk kepentingan Perseroan sesuai dan dalam mencapai maksud dan tujuan Perseroan.

• Bertanggung jawab atas seluruh tindakan Perseroan dan memiliki kuasa, kewenangan dan tugas yang melekat pada dirinya sesuai dengan hukum terkait dan Anggaran Dasar Perseroan.

• Memperhatikan kepentingan Perseroan secara keseluruhan, termasuk para pemegang saham, karyawan, pelanggan, serta tanggung jawab sosial dan hukum Perseroan kepada masyarakat tempat Perseroan beroperasi dan lingkungannya.

• Menerapkan Tata Kelola Perseroan yang baik pada seluruh tingkat organisasi.

• Bertanggung jawab atas manajemen, dan pencapaian kinerja Perseroan.

• Bertanggung jawab penuh atas manajemen risiko dan untuk meninjau keefektifan sistem pengendalian internal dan manajemen risiko.

• Mewakili Perseroan di dalam dan di luar pengadilan.

Ruang Lingkup Tugas dan Tanggung Jawab masing-masing Anggota Direksi

Agoes Soelistyo Santoso – Presiden Direktur• Menentukan Visi, Misi, dan Nilai-Nilai

Perusahaan• Menyetujui Strategi Bisnis dan Kebijakan

Pengembangan Bisnis Perusahaan• Mengkoordinasikan semua fungsi Direksi

• Memastikan Perusahaan berjalan sesuai Good Corporate Governance

• Memastikan Perusahaan dan anak-anak Perusahaan berpartisipasi dalam aktivitas Corporate Social Responsibilities (CSR)

• Memastikan pelaksanaan Kode Etik dan Pelaporan Pelanggaran (Whistleblowing) Perusahaan berjalan dengan baik.


In general, the duties and responsibilities of Boardof Directors are as follows:• Being responsible for the management of the

Company, for the interest of the Company in accordance with and in order to attain the goals and purposes of the Company.

• Being responsible for all actions of the Company and having the power, authority and duties that are incorporated in their positions in accordance with the related laws and Articles of Association.

• Taking into account the overall interests of the Company, including those of the shareholders, employees, customers, and social responsibility and legal aspect to the community and environment in which the Company operates.

• Implementing good corporate governance within all organization levels.

• Being responsible for the management and performance achievement of the Company.

• Having the full responsibility on risk management and the obligation to review the effectiveness of internal control system and risk management.

• Representing the Company both inside and outside the court.

Scope of Duties and Responsibil it ies of Each Member of Board of Directors

Agoes Soelistyo Santoso – President Director• Determining Company’s Vision, Mission, and

Values• Approving Company’s Business Strategy and

Business Development Policy• Coordinating all functions of the Board of

Directors• Ensuring that the Company is managed

according to Good Corporate Governance• Ensuring that the Company and its subsidiaries

participate in Corporate Social Responsibility (CSR) activities

• Ensuring that the Code of Conduct and Whistleblowing System of the Company have been well implemented.


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Anthony Prabowo Susilo – Wakil Presiden Direktur• Memastikan Visi, Misi dan Nilai-Nilai

Perusahaan diimplementasikan dengan baik• Melakukan supervisi implementasi Strategi

Bisnis dan Kebijakan Pengembangan Bisnis yang telah disetujui

• Melakukan supervisi penyusunan usulan Strategi Bisnis serta Pengembangan Bisnis

• Melakukan supervisi kegiatan operasional Perusahaan dan Anak-Anak Perusahaan

Alexander Nartates Nartates – Direktur Independen• Bertanggung jawab atas hubungan dengan

Investor • Bertanggung jawab atas penggalangan dana

dari Strategic Investor dan penyediaan dana dari bank asing

• Memonitor implementasi Good Corporate Governance

• Memonitor risiko bisnis Perusahaan

Patrick Santosa Rendradjaja – Direktur• Bertanggung jawab dalam perencanaan

Proyek • Bertanggung jawab dalam penentuan budget

dan schedule proyek• Memonitor pelaksanaan pembangunan proyek• Bertanggung jawab atas efisiensi pelaksanaan

proyek

Diana Solaiman – Direktur• Bertanggung jawab atas pengelolaan dan

pengawasan Keuangan• Bertanggung jawab atas penyediaan dana

dari bank lokal• Bertanggung jawab atas penyusunan Laporan

Keuangan serta pelaporan kepada pihak ketiga

• Bertanggung jawab atas perencanaan dan pemenuhan kewajiban perpajakan Perusahaan

• Bertanggung jawab atas penyusunan budget Perusahaan

Anthony Prabowo Susilo – Vice President Director• Ensuring that Company’s Vision, Mission, and

Values are implemented properly• Monitoring the implementation of the approved

Business Strategy and Business Development Policy

• Monitoring the preparation of Business Strategy and Business Development proposals

• Monitoring the operational activities of the Company and its Subsidiaries

Alexander Nartates Nartates – Independent Director• Being responsible for Company’s relations with

Investors• Being responsible for raising funds from

Strategic Investors and provision of funds from foreign banks

• Monitoring the implementation of Good Corporate Governance

• Monitoring the Company’s business risks

Patrick Santosa Rendradjaja – Director• Being responsible for project planning

• Being responsible for determining the budget and schedule of projects

• Monitoring the project development• Being responsible for the efficiency of project

implementation

Diana Solaiman – Director• Being responsible for financial management

and monitoring• Being responsible for provision of funds from

local banks• Being responsible for the preparation of

Financial Statements and reporting to third parties

• Being responsible for planning and fulfilling the Company’s tax obligations

• Being responsible for the preparation of Company’s budget

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Kebijakan Perusahaan Tentang Penilaian Terhadap Kinerja Anggota Direksi

Penilaian kinerja Direksi dilakukan dengan metode self assessment yang akan dilakukan setiap tahun. Kriteria penilaian yang digunakan adalah pengkajian pelaksanaan tugas dan tanggung jawab berdasarkan pedoman Direksi yang telah disusun Perseroan, antara lain meliputi kinerja keuangan dan usaha, penerapan Tata Kelola Perseroan yang baik dan kepatuhan atas peraturan yang berlaku. Evaluasi tersebut, baik secara perorangan maupun kolektif selanjutnya akan disampaikan kepada Dewan Komisaris untuk dievaluasi Dewan Komisaris. Hasil dari self assessment menyatakan bahwa sepanjang tahun 2018, Direksi melaksanakan tugas dan tanggung jawab dengan baik dan efektif.

Performance Assessment Policy for Members of Board of Directors

The Board of Directors’ performance is assessed using the self-assessment method that is conducted annually. Assessment criteria include reviewing the implementation of their duties and responsibilities based on the Charter of Board of Directors established by the Company, covering financial and business performance, implementation of Good Corporate Governance, and compliance with the regulations in force. The assessment, both individually and collectively, is then submitted to the Board of Commissioners to be evaluated. In 2018, the result of self-assessment stated that the Board of Directors carried out their duties and responsibilities properly and effectively.

KEBIJAKAN KEBERAGAMAN KOMPOSISI DEWAN KOMISARIS DAN DIREKSI Policy on the Diversity in Board of Commissioners and Board of Directors Compositions

Berdasarkan rekomendasi Otoritas Jasa Keuangan yang dituangkan dalam Lampiran Surat Edaran Otoritas Jasa Keuangan Nomor 32/SEOJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka dinyatakan komposisi anggota Direksi memperhatikan keberagaman komposisi anggota Direksi. Perseroan memiliki keberagaman komposisi anggota Direksi dengan kombinasi dan karakteristik yang sesuai dengan kebutuhan Perusahaan Terbuka. Kombinasi tersebut ditentukan dengan cara memperhatikan keahlian, pengetahuan dan pengalaman yang sesuai pada pembagian tugas dan fungsi jabatan Direksi dalam mencapai tujuan Perusahaan Terbuka.

Pengangkatan Dewan Komisaris dan Direksi dilakukan dengan mempertimbangkan integritas, dedikasi, pemahaman mengenai masalah

The recommendations of Financial Services Authority, as outlined in the Attachment to the Circular Letter of Financial Services Authority No. 32/SEOJK.04/2015 regarding Corporate Governance Guidelines, stated that the composition of Board of Directors shall take into account the diversity of each member. The Company has a diverse composition of members of the Board of Directors with combinations and characteristics that are in accordance with the needs of a Public Company. The combination is determined by observing the expertise, knowledge, and experience suitable to the duties and functions of Board of Directors in achieving the objectives of the Public Company.

The appointment of Board of Commissioners and Board of Directors is carried out by considering integrity, dedication, understanding of the


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manajemen perusahaan yang berkaitan dengan salah satu fungsi manajemen, memiliki pengetahuan dan/atau keahlian di bidang yang dibutuhkan Perseroan dan dapat menyediakan waktu yang cukup untuk melaksanakan tugasnya serta persyaratan lain berdasarkan peraturan perundang-undangan.

Company’s management issues relating to one of the management functions, having knowledge and/or expertise in the areas needed by the Company, and being able to provide sufficient time to carry out their duties and other requirements based on the laws and regulations.

NAMAName

JABATANPosition

PENDIDIKAN/BIDANG STUDI Education/Field of Study

PENGALAMAN KERJA Work Experience

USIAAge

JENISKELAMIN

Gender

Todo Sihombing

Presiden Komisaris merangkap Komisaris IndependenPresident Commissioner cum Independent Commissioner

Akademi Militer Nasional pada tahun 1961 – 1964. Pada 1976 -1977 menempuh pendidikan SESKOAD, selanjutnya menempuh pendidikan SESKOGAB pada tahun 1981. Pada tahun 1987 menempuh pendidikan LEMHANAS, dan tahun 1992 menyelesaikan pendidikan di Defense Resources Management Course (DRMC)The National Military Academy in 1961 – 1964, Army Command and Staff School (SESKOAD) in 1976 – 1977 and at the Integrated Staff and Command College (SESKOGAB) in 1981. In 1987, he graduated from the National Defense Institute (LEMHANAS) and in 1992 from the Defense Resources Management Course (DRMC)

Mayor Jenderal TNI tahun 1965 sampai dengan tahun 1997. Pada tahun 1994 – 1995 menjabat sebagai Koordinator Staf Ahli Panglima ABRI. Tahun 1995 – 1997 menjabat sebagai Wakil Ketua Fraksi TNI DPR RI Koordinator Bidang umum.Major General of National Military (TNI) in 1997. He served as an Expert Staff Coordinator of Indonesian Military Commander in 1994 – 1995, and as a Deputy Chairman for Indonesian Military Fraction, General Affairs Coordinator, at the House of Representatives (DPR RI) in 1995 – 1997

78 tahunyears old

Laki-lakiMale

Hadi Cahyadi


Mendapatkan gelar Business Administration (MBA) dari University of Houston-Clear Lake serta gelar Master Degree in Corporate Law (MCL) dari Royal Melbourne Institute of Technology (RMIT)Master of Business Administration (MBA) degree from University of Houston-Clear Lake and Master of Corporate Law degree (MCL) from the Royal Melbourne Institute of Technology (RMIT)

Sarjana Akuntansi Universitas TarumanagaraBachelor’s degree in Accounting from Tarumanagara University

Mengawali karirnya tahun 1989 sebagai Auditor di Kantor Arthur Andersen, Jakarta. Beliau kemudian menempati berbagai posisi manajerial di bidang keuangan termasuk di KPMG, Ernst and Young dan Deloitte Touche dan meninggalkan jabatan terakhir beliau sebagai Partner di Management Consultant and Financial Advisory Services, Prijohandojo, Boentoro & Co. (PB&Co) sebelum akhirnya mendirikan Helios Capital.His career started in 1989 when he worked as an auditor at Arthur Andersen Office, Jakarta. Since then, he served in several managerial positions in financial sector, including at KPMG, Ernst and Young, and Deloitte Touche. His latest position was as a Partner in Management Consultant and Financial Advisory Services, Prijohandojo, Boentoro & Co. (PB&Co) prior to establishing Helios Capital.

52 tahunyears old

Laki-lakiMale

193


Amelia Gozali


Mendapatkan gelar Bachelor of Business Administration, Marketing – Honors dari universitas of Southern California, Marshall School of Business, Los Angeles, CA tahun 2006Bachelor of Business Administration degree, Marketing – Honors, from University of Southern California, Marshall School of Business, Los Angeles, CA in 2006

Dalam kurun waktu tahun 1985 – 1992 menjabat sebagai Finance & Accounting Manager di beberapa perusahaan, yaitu PT Daya Knitto, Indomobil Group, dan Sinar Mas Group. Pada tahun 1992 – 1996 menjabat sebagai Direktur PT Budi Acid Jaya Tbk, tahun 1996 – 2000 menjabat sebagai Presiden Direktur PT Ometraco Corporation Tbk. Sejak tahun 2000 menjabat sebagai Direksi di berbagai perusahaan di bawah The Paradise group.During the period of 1985 – 1992, he served as a Finance & Accounting Manager at several companies, namely PT Daya Knitto, Indomobil Group and Sinar Mas Group. In 1992 – 1996, he served as a Director at PT Budi Acid Jaya Tbk and as President Director at PT Ometraco Corporation Tbk in 1996 – 2000. He has been serving as a Director at several companies under The Paradise Group since 2000.

34 tahunyears old

PerempuanFemale

Karel Patipeilohy


- Pada tahun 1979 -1998 menjabat sebagai Operation Manager PT Schlumberger geophisic Nusantara dan PT Ometraco Realty. Tahun 1998 – 2004 menjabat sebagai Direktur PT Inti Insan Santosa. Tahun 2001 – 2004 pernah menjabat sebagai Presiden Direktur PT Marina City Development, tahun 2004 – 2014 menjabat sebagai Presiden Direktur PT Senimba Bay Resort (dahulu PT Marina City Development). Dan tahun 2000 hingga sekarang menjabat sebagai Komisaris PT Sinar Harapan Persada. In 1979 – 1998, he served as Operation Manager at PT Schlumberger Geophysics Nusantara and PT Ometraco Realty. In 1998 – 2004, he served as a Director at PT Inti Insan Santosa. In 2001 – 2004 he served as the President Director at PT Marina City Development, and in 2004 – 2014 as the President Director at PT Senimba Bay Resort (previously PT Marina City Development). Since 2000 he has been serving as a Commissioner at PT Sinar Harapan Persada.

61tahunyears old

Laki-lakiMale



Sarjana dari Fakultas Ekonomi, Universitas Katolik Parahyangan tahun 1985Bachelor’s degree from Faculty of Economic of Parahyangan Catholic university in 1985

Dalam kurun waktu tahun 1985 – 1992 menjabat sebagai Finance & Accounting Manager di beberapa perusahaan, yaitu PT Daya Knitto, Indomobil Group, dan Sinar Mas Group. Pada tahun 1992 – 1996 menjabat sebagai Direktur PT Budi Acid Jaya Tbk, tahun 1996 – 2000 menjabat sebagai Presiden Direktur PT Ometraco Corporation Tbk. Sejak tahun 2000 menjabat sebagai Direksi di berbagai perusahaan di bawah The Paradise group.During the period of 1985 – 1992, he served as a Finance & Accounting Manager at several companies, namely PT Daya Knitto, Indomobil Group and Sinar Mas Group. In 1992 – 1996, he served as a Director at PT Budi Acid Jaya Tbk and as President Director at PT Ometraco Corporation Tbk in 1996 – 2000. He has been serving as a Director at several companies under The Paradise Group since 2000.

57tahunyears old

Laki-lakiMale


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Bachelor of Science in Business Administration concentration in Finance and Accounting dari Georgetown University, Washington D.C., USA

Vice President di PT Principia Management Group (2008 – 2015), Vice President of Business Development di PT Cardig Air (2008 – 2015), Director di PT Nusantara Steelmills Indonesia (2012 – 2015), Associate di Altus Shipping & Logistics Pte. Ltd. (Singapore) (2011 – 2013), Director di PT Gorda Prima Steelworks (2012 – 2015), serta Director di PT Sitasa Energi (2013 – 2015).Vice President of PT Principia Management Group in 2008 – 2015, Vice President of Business Development of PT Cardig Air in 2008 – 2015, Director at PT Nusantara Steelmills Indonesia in 2012 – 2015, Associate at Altus Shipping & Logistics Pte. Ltd. (Singapore) in 2011 – 2013, Director at PT Gorda Prima Steelworks in 2012 – 2015, and Director at PT Sitasa Energi in 2013 – 2015.

35tahunyears old

Laki-lakiMale



Lulusan University of Santo Tomas tahun 1986 serta Colegio de San Juan de Letran – Intramuros pada tahun 1975Graduated from the University of Santo Tomas in 1986 and Colegio de San Juan de Letran – Intramuros in 1975

Head - Corporate Finance and Investor Relations di PT Kawasan Industri Jababeka Tbk pada tahun 2005-2014, Corporate Finance and Corporate Affairs di PT Arwana Citramulia Tbk pada tahun 2002-2004, Control Dept. di Texas Instruments Philippines Inc., tahun 1979-1988, serta Head of Business Development and Investor Relations di PT Indonesian Paradise Property Tbk pada tahun 2015 hingga sekarang.Head - Corporate Finance and Investor Relations at PT Kawasan Industri Jababeka Tbk (2005-2014), Corporate Finance and Corporate Affairs at PT Arwana Citramulia Tbk (2002-2004), Control Department at Texas Instruments Philippines Inc. (1979-1988), and Head of Business Development and Investor Relations at PT Indonesian Paradise Property Tbk (2015 up to present).

65tahunyears old

Laki-lakiMale


DirekturDirector

Master of Science in Architecture dari Delft Technical University, Netherland tahun 1986Master of Science degree in Architecture from Delft Technical University – the Netherlands in 1986

Dalam kurun waktu tahun 1989 – 2000 bekerja sebagai arsitek di Atelier 6 Group, Jakarta dan Project Coordinator Lippo City Development, Jakarta; Ometraco Realty, Jakarta; serta Bentala Sanggrahan Group, Jakarta. Sejak tahun 1999 menjabat sebagai Direktur di berbagai perusahaan di bawah The Paradise Group.In the period of 1989-2000, he worked as an Architect at Atelier 6 Group in Jakarta and as a Project Coordinator at Lippo City Development in Jakarta, Ometraco Realty in Jakarta and Bentala Sanggrahan Group in Jakarta. Since 1999 he serves as the Director for companies under The Paradise Group.

60tahunyears old

Laki-lakiMalei

Diana Solaiman

DirekturDirector

Master in Business Administration dari Philippines Christian University, Manila tahun 1992Master’s degree in Business Administration from Philippine Christian University, Manila in 1992

Dalam kurun waktu tahun 1992 – 2001 pernah menjabat sebagai Finance & Accounting di beberapa perusahaan yaitu PT Putera Ometraco Electric dan PT Ometraco Corporation Tbk.During the period of 1992 – 2001, she worked as a Finance & Accounting Manager at several companies such as PT Putera Ometraco Electric and PT Ometraco Corporation Tbk.

49tahunyears old

PerempuanFemale

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KEBIJAKAN REMUNERASI BAGI DEWAN KOMISARIS DAN DIREKSI Policy on Remuneration for Board of Commissioners and Board of Directors

Prosedur dan Penetapan Remunerasi Direksi

Kebijakan Perseroan pada penetapan remunerasi bagi anggota Dewan Komisaris dan Direksi dilakukan melalui Rapat Umum Pemegang Saham setelah sebelumnya dikaji oleh Dewan Komisaris melalui pendalaman yang dilakukan oleh pemegang saham. Prosedur dan penetapan remunerasi Dewan Komisaris dan Direksi dilakukan berdasarkan Pasal 96 ayat (1) Undang–undang Perseroan Terbatas No. 40 tahun 2007 yang mengatur besarnya gaji dan tunjangan Direksi ditetapkan berdasarkan keputusan Rapat Umum Pemegang Saham.

Kewenangan tersebut berdasarkan Pasal 96 ayat (2) dapat dilimpahkan kepada Dewan Komisaris. Bentuk Tunjangan dan Fasilitas, serta komponen lain yang termasuk di dalam komponen penghasilan (selain gaji) mengacu pada ketentuan Pasal 113 Undang-Undang No. 40 tahun 2007 tentang Perseroan Terbatas, besarnya gaji dan tunjangan anggota Dewan Komisaris ditetapkan dalam Rapat Umum Pemegang Saham Perseroan melalui Akta Berita Acara Rapat Umum Pemegang Saham Tahunan No. 71, tanggal 12 Mei 2017, dibuat di hadapan Dr. Irawan Soerodjo S.H., MSi., Notaris di Jakarta, untuk tahun buku yang berjalan dalam jumlah yang sama dengan jumlah yang ditetapkan pada tahun buku yang lalu dan/atau dengan kenaikan maksimal 10% (sepuluh persen) dari jumlah yang ditetapkan pada tahun buku yang lalu. Rapat tersebut juga memberikan kuasa dan wewenang kepada Presiden Komisaris untuk menetapkan dan mengatur alokasinya.

Procedures and Determination of Remuneration for Board of Directors

Remuneration policy for the members of Board of Commissioners and Board of Directors is determined in the General Meeting of Shareholders after having been previously reviewed by the Board of Commissioners and the shareholders. Procedures and determination of remuneration for the Board of Commissioners and Board of Directors are conducted based on Article 96 paragraph (1) of the Limited Liability Company Law No. 40 of 2007, which stipulates that the amount of salary and allowance for the Board of Directors is to be determined based on the resolution of General Meeting of Shareholders.

This authority can be granted to the Board of Commissioners pursuant to the article 96 paragraph (2). The forms of Salary and Facilities as well as other components included in the income composition (other than salary) refers to the provisions of Article 113 of the Law No. 40 of 2007 regarding Limited Liability Company. The amount of salary and allowance for the members of Board of Commissioners is determined by the General Meeting of Shareholders of the Company through Deed of Minutes of General Meeting of Shareholders No. 71, dated 12 May 2017, drawn up before Dr. Irawan Soerodjo S.H., MSi., Notary in Jakarta, for the current fiscal year, with the same amount as that of the previous fiscal year and/or with an increase of 10% (ten percent) at the maximum of the set amount determined in the previous fiscal year. The Meeting also granted power and authority to the President Commissioner to determine and regulate the allocation.


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Penetapan remunerasi Direksi terdiri dari beberapa komponen seperti:• Honorarium• Tunjangan• Fasilitas• Tantiem/Insentif Kinerja• Indikator Kinerja

Remunerasi Dewan Komisaris dan Direksi mengacu pada indikator-indikator sebagai berikut:• Remunerasi diberikan dalam hal perusahaan

memperoleh keuntungan dalam tahun buku yang bersangkutan.

• Remunerasi diberikan dengan mengacu pada perkembangan pasar properti.

• Remunerasi diberikan melalui hasil pengukuran kinerja Dewan Komisaris dan Direksi yang sesuai dengan tugas dan tanggung jawab.

• Kinerja keuangan dan pencapaian Key Performance Indicator (KPI) Perseroan.

• Prestasi kerja individu.• Kewajaran dengan peer Perseroan lainnya.• Pertimbangan sasaran dan strategi jangka

panjang Perseroan.

Jumlah Remunerasi Dewan Komisaris dan Direksi

Pada tahun 2018, Perseroan memberikan kompensasi jangka pendek kepada Dewan Komisaris dan Direksi sebesar Rp7.030.775.727 dan Rp6.027.825.000 untuk tahun yang berakhir pada 31 Desember 2018 dan 2017.

Remuneration for the Board of Directors is composed of the following components:• Honorarium• Allowance• Facilities• Tantiem/Performance Incentive• Performance Indicators

Remuneration for the Board of Commissioners and Board of Directors refers to the following indicators:• Remuneration is given according to the profit

received by the Company during the concerned fiscal year.

• Remuneration is given by referring to the development in property market.

• Remuneration is given based on the result of performance measurement of the Board of Commissioners and Board of Directors that is in line with their duties and responsibilities.

• Financial performance and achievement of Key Performance Indicators (KPIs) of the Company.

• Individual performance achievement.• Fairness with other peer companies.• Consideration of the long-term targets and

strategies of the Company.

Amount of Remuneration for the Board of Commissioners and Board of Directors

In 2018, the Company provided short-term compensation to the Board of Commissioners and Board of Directors amounting to Rp7,030,775,727 and Rp6,027,825,000 for the years ended on 31 December 2018 and 2017.

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KEBIJAKAN SERTA FREKUENSI DAN TINGKAT KEHADIRAN RAPAT DEWAN KOMISARIS, RAPAT DIREKSI, DAN RAPAT GABUNGAN DEWAN KOMISARIS DENGAN DIREKSIPolicy, Frequency, and Attendance Rate of the Meetings of Board of Commissioners, Meetings Board of Directors, and Joint Meetings of Board of Commissioners, and Board of Directors

Pada tahun 2018, Perseroan telah menyelenggarakan rapat Dewan Komisaris sebanyak 6 (enam) kali dengan tingkat kehadiran masing-masing anggota mencapai 100%, yang dihadiri oleh Anggota Dewan Komisaris dan dipimpin oleh Presiden Komisaris. Sedangkan rapat Direksi sebanyak 12 (dua belas) kali dengan tingkat kehadiran masing-masing anggota mencapai 100% selama periode jabatan.

Secara keseluruhan, rapat-rapat tersebut membahas berbagai hal mengenai kinerja Perseroan sepanjang tahun 2018 sebagaimana yang terlihat pada tabel-tabel sebagai berikut:

In 2018, the Company held 6 (six) meetings of Board of Commissioners with attendance rate of each member reaching 100%. The meetings of Board of Commissioners have been attended by all members of Board of Commissioners and chaired by the President Commissioner. Meanwhile, the Board of Directors held 12 (twelve) meetings with attendance rate of each member reaching 100% during their term of office.

In general, the meetings discussed various matters related to the Company’s performance during the year as described in the following tables:

NAMA Name

JABATANPosition

JUMLAH RAPAT Total Meetings

TINGKAT KEHADIRAN Attendance Rate

PERSENTASEPercentage

Todo Sihombing Presiden Komisaris merangkap Komisaris IndependenPresident Commissioner cum Independent Commissioner

6 6 100%


6 6 100%


6 6 100%

Karel Patipeilohy KomisarisCommissioner

6 6 100%

Rapat Dewan Komisaris | Board of Commissioners Meetings


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NAMA Name

JABATANPosition




Agoes Soelistyo Santoso Presiden DirekturPresident Director

12 12 100%

Anthony Prabowo Susilo Wakil Presiden DirekturVice President Director

12 12 100%



12 12 100%


DirekturDirector

12 12 100%


12 12 100%

Rapat Direksi | Board of Directors Meetings

TANGGALDate AGENDA PESERTA

Participant

February 2018 Laporan Keuangan Tahunan 20172017 Annual Financial Statements

Todo Sihombing, Hadi Cahyadi, Amelia Gozali, Karel Patipeilohy

March 2018 Laporan Tahunan 20172017 Annual Report


April 2018 Laporan Keuangan 3 BulananQuarterly Financial Statements (for the period of 3 months)


July 2018 Laporan Keuangan 6 BulananMid-Term Financial Statements (for the period of 6 months)


October 2018 Laporan Keuangan 9 BulananQuarterly Financial Statements (for the period of 9 months)


December 2018 Annual Plan 2019 Todo Sihombing, Hadi Cahyadi, Amelia Gozali, Karel Patipeilohy


Participant

January 2018 One Residence Batam & 31 Sudirman Suite Agoes Soelistyo Santoso, Anthony Prabowo Susilo, Alexander Nartates Nartates, Patrick Santosa Rendradjaja, Diana Solaiman

February 2018 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence

Agoes Soelistyo Santoso, Anthony Prabowo Susilo, Alexander Nartates Nartates, Patrick Santosa Rendradjaja, Diana Solaiman

March 2018 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


April 2018 Renovation HARRIS Resort Waterfront Batam, 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


May 2018 23 Paskal Extension, Renovation HARRIS Resort Waterfront Batam, 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


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June 2018 23 Paskal Extension, Renovation HARRIS Resort Waterfront Batam, 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


July 2018 Renovation HARRIS Resort Waterfront Batam, 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


August 2018 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


September 2018

31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2 & One Residence Batam


October 2018 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2, One Residence Batam, Renovation of Harris Resort Waterfront Batam & Renovation Harris Suites fX Sudirman


November 2018 31 Sudirman Suite Makassar & Project Sahid Kuta Lifestyle Resort 2, One Residence Batam, Renovation of Harris Resort Waterfront Batam & Renovation Harris Suites fX Sudirman


December 2018 Seluruh Proyek dan Annual Plan 2019All Projects and Annual Plan 2019


NAMA Name

JABATANPosition




Todo Sihombing Presiden Komisaris merangkap Komisaris IndependenPresident Commissioner cum Independent Commissioner

6 6 100%


6 6 100%


6 6 100%

Karel Patipeilohy KomisarisCommissioner

6 6 100%



6 6 100%



6 6 100%



6 6 100%


DirekturDirector

6 6 100%


6 6 100%

Rapat Gabungan Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Joint Meetings


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portal Repan AnnLaporan

HARRIS Hotel Batam CenterBatam


Participant


Todo Sihombing, Hadi Cahyadi, Amelia Gozali, Karel Patipeilohy, Agoes Soelistyo Santoso, Anthony Prabowo Susilo, Alexander Nartates Nartates, Patrick Santosa Rendradjaja, Diana Solaiman









December 2018 Annual Plan 2019 Todo Sihombing, Hadi Cahyadi, Amelia Gozali, Karel Patipeilohy, Agoes Soelistyo Santoso, Anthony Prabowo Susilo, Alexander Nartates Nartates, Patrick Santosa Rendradjaja, Diana Solaiman

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HUBUNGAN AFILIASI ANTARA ANGGOTA DIREKSI, DEWAN KOMISARIS, DAN PEMEGANG SAHAM UTAMA DAN/ATAU PENGENDALI Affi l iations of Board of Commissioners and Board of Directors

NAMAName

JABATANPosition

HUBUNGAN AFILIASI DENGAN Affiliated With

PEMEGANG SAHAM

Shareholders

DEWANKOMISARIS

Board of Commissioners


Todo Sihombing

Presiden Komisaris merangkap Komisaris IndependenPresident Commissioner cum Independent Commissioner

- - -

Hadi Cahyadi


- - -

Amelia Gozali


PT Grahatama Kreasibaru - Anthony Prabowo Susilo

Karel Patipeilohy


PT Grahatama Kreasibaru - -



- - -



- Amelia Gozali



- - -


DirekturDirector

- - -

Diana Solaiman

DirekturDirector

PT Grahatama Kreasibaru - -


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Komite Audit dibentuk dalam rangka mendukung Dewan Komisaris dalam melaksanakan fungsi pengawasan di bidang pelaksanaan dan pelaporan pencatatan keuangan, kecukupan pengelolaan risiko dan pengendalian internal secara efektif dan independen. Komite Audit juga melakukan pengawasan pada kepatuhan Perseroan terhadap peraturan dan perundang-undangan yang berlaku.

Dasar Hukum

Perseroan membentuk Komite Audit berdasarkan peraturan-peraturan sebagai berikut:• Peraturan Otoritas Jasa Keuangan (POJK)

No. 55/POJK.04/2015 tanggal 23 Desember 2015 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit.

• Peraturan Otoritas Jasa Keuangan (POJK) No. 33/POJK.04/2014 tanggal 8 Desember 2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

• Anggaran Dasar Perseroan.

The establishment of Audit Committee of the Company aims to provide assistance to the Board of Commissioners in carrying out their supervisory function in the field of implementation and reporting of financial records, as well as the adequacy of risk management and internal control in an effective and independent manner. The Audit Committee also supervises the Company’s compliance with prevailing laws and regulations.

Legal Basis

The Company establishes the Audit Commitee based on the following regulations:• Regulation. of Financial Services Authority

(POJK) No. 55/POJK.04/2015 dated 23 December 2015 regarding Establishment and Work Guidelines of Audit Committee.

• Regulation. of Financial Services Authority (POJK) No. 33/POJK.04/2014 dated 8 December 2014 regarding Board of Directors and Board of Commissioners of Issuer or Public Company.

• Company’s Articles of Association.

NAMA Name

JABATAN DI PERSEROANPosition in the Company

POSISI DI KOMITE Position in the

Committee


KEAHLIANExpertise

Hadi Cahyadi Komisaris IndependenIndependent Commissioner

KetuaHead of Committee

2016 - 2021 Auditor, Keuangan, & Hukum PerusahaanAuditor, Finance, & Corporate Laws

Anang Yudiansyah


AnggotaMember

2016 - 2021 Internal Audit

Kurniadi Anggota Komite AuditMember of Audit Comitee

AnggotaMember

2016 - 2021 Akuntansi & KeuanganAccounting & Finance

Susunan Anggota |Composition of Audit Committee

203


Profil Komite Audit

Hadi CahyadiProfil Ketua Komite Audit dapat dilihat pada bab Profil Manajemen.

Anang YudiansyahProfil Anggota Komite Audit dapat dilihat pada bab Profil Manajemen.

KurniadiProfil Anggota Komite Audit dapat dilihat pada bab Profil Manajemen.

Independensi Komite Audit

Seluruh anggota Komite Audit merupakan pribadi yang profesional, berpengalaman, dan tidak memiliki hubungan bisnis baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Perseroan, untuk menjaga independensi dalam pelaksanaan tugas dan tanggung jawabnya. Seluruh anggota Komite Audit telah memenuhi kriteria independensi, keahlian, pengalaman dan integritas yang dipersyaratkan dalam ketentuan yang berlaku.

Piagam Komite Audit

Komite Audit Perseroan memiliki Piagam atau Pedoman yang mengatur keanggotaan, struktur, wewenang, tugas dan tanggung jawab, rapat, aktivitas serta tata laksana kerja Komite Audit dalam menjalankan fungsinya. Penyempurnaan dan pembaruan Piagam Komite Audit terakhir dilakukan pada tanggal 6 September 2016 dan telah diunggah ke dalam situs web Perseroan. Selanjutnya, Piagam Komite Audit senantiasa ditinjau kembali secara periodik agar sesuai dengan ketentuan yang berlaku dan kebutuhan Perseroan dalam menjalankan kegiatan usaha.

Profile of Audit Committee

Hadi CahyadiProfile of the Head of Audit Committee can be seen under the sub-chapter of Management Profile.

Anang YudiansyahProfile of Member of Audit Committee can be seen under the sub-chapter of Management Profile.

KurniadiProfile of Member of Audit Committee can be seen under the sub-chapter of Management Profile.

Profile of Audit Committee

All members of the Company’s Audit Committee are professional and experienced individuals, and have no business relations, both directly and indirectly, related to the Company’s business activities. This is so that the Audit Committee can maintain their independence in implementation of its duties and responsibilities. All members of the Audit Committee have met the criteria of independence, expertise, experience and integrity conditioned in prevailing provisions.

Charter of Audit Committee

The Company’s Audit Committee has established a Charter or Guidelines that regulate the membership, structure, authority, duties and responsibilities, meetings, activities and work procedures of the Audit Committee in conducting their functions. Improvement and renewal of the Audit Committee Charter have been recently conducted on 6 September 2016, and uploaded to the Company’s website. The Audit Committee Charter is regularly reviewed so as to be in accordance with the applicable provisions and Company’s needs in conducting business activities.


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Tugas, Tanggung Jawab dan Wewenang

Tugas, tanggung jawab dan wewenang Komite Audit sebagai berikut:• Memberikan pendapat independen dan

profesional kepada Dewan Komisaris terhadap laporan atau hal-hal yang disampaikan oleh Direksi kepada Dewan Komisaris;

• Membantu Dewan Komisaris pada tanggung jawab pengawasan, termasuk mengidentifikasi hal-hal yang memerlukan perhatian Dewan Komisaris;

• Me-review informasi keuangan yang diterbitkan oleh Perseroan kepada publik atau pihak yang berwenang, seperti laporan keuangan, proyeksi dan pernyataan lainnya yang berkaitan dengan informasi keuangan Perseroan;

• Me-review tingkat kepatuhan/ketaatan Perseroan terhadap peraturan yang berlaku di bidang Pasar Modal dan peraturan lain yang berkaitan dengan kegiatan Perseroan;

• Memberikan opini independen dalam kasus perbedaan pendapat antara manajemen dan penyedia jasa akuntansi;

• Memberikan rekomendasi kepada Dewan Komisaris mengenai penunjukan Akuntan berdasarkan independensi, ruang lingkup tugas dan biaya;

• Me-review pelaksanaan audit oleh auditor internal dan mengawasi pelaksanaan tindak lanjut oleh Direksi atas hasil temuan auditor internal.

• Me-review pelaksanaan kegiatan manajemen risiko yang dilakukan oleh Direksi, apabila Perseroan tidak memiliki fungsi pemantauan risiko dalam Dewan Komisaris;

• Memeriksa keluhan terkait proses akuntansi keuangan Perseroan;

• Me-review dan memberikan saran kepada Dewan Komisaris sehubungan dengan potensi konflik kepentingan di Perseroan;

• Menjaga kerahasiaan dokumen dan informasi Perseroan.

Duties, Responsibil it ies, and Authority

The duties, responsibilities, and authority of the Audit Committee are as follows:• To provide independent and professional

opinion to the Board of Commissioners regarding reports or matters submitted by the Board of Directors to the Board of Commissioners;

• To assist the Board of Commissioners in conducting supervisory function, including to identify matters requiring Board of Commissioners’ attention;

• To review the financial information published by the Company to the public or authorities, such as financial statements, projections, and other statements relevant to the Company’s financial information;

• To review the Company’s compliance with the prevailing regulations in capital market and other regulations relevant to Company’s activities;

• To provide independent opinions should there be dissenting views between the management and accounting service provider;

• To provide recommendations to the Board of Commissioners on the appointment of Accountants based on the independency, scope of duties and fees;

• To review audit activities conducted by the internal auditors and monitoring the follow-up actions conducted by the Board of Directors on the internal auditors’ findings;

• To review risk management activities conducted by the Board of Directors, if the Company does not have risk monitoring function under the Board of Commissioners;

• To examine complaints related to the Company’s financial accounting process;

• To review and providing advice to the Board of Commissioners on matters that have the potential of conflict of interest in the Company

• To maintain the confidentiality of the Company’s documents and information

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Rapat Komite Audit

Pada tahun 2018, Komite Audit telah menyelenggarakan rapat yang membahas dan mengevaluasi kinerja Perseroan dengan tingkat kehadiran seluruh anggota Komite Audit sebanyak 100%.

Audit Committee Meeting

In 2018, the Audit Committee held meetings to discuss and evaluate the Company’s performance. The attendance rate of members of Audit Committee in the meetings reached 100%.


Participant


Hadi Cahyadi, Anang Yudiansyah, Kurniadi









December 2018 Annual Plan 2019 Hadi Cahyadi, Anang Yudiansyah, Kurniadi


Pelaksanaan Tugas Komite Audit 2018

Sepanjang tahun 2018, Komite Audit telah memberikan pendapat secara profesional dan independen kepada Dewan Komisaris mengenai laporan yang disampaikan Direksi serta mengidentifikasi hal-hal yang memerlukan perhatian Dewan Komisaris. Selain itu, pelaksanaan tugas lainnya yang dilakukan Komite Audit pada tahun 2018 sebagai berikut:• Menelaah laporan, informasi keuangan

dan keterbukaan informasi lainnya yang dikeluarkan Perseroan;

• Melakukan evaluasi manajemen risiko dan sistem pengendalian internal; memberikan masukan perihal penunjukkan Kantor Akuntan Publik kepada Dewan Komisaris;

• Bekerja sama dengan Internal Audit; • Membantu Dewan Komisaris perihal

pengawasan pelaksanaan tata kelola perusahaan yang baik;

• Memantau pelaksanaan Kode Etik Perseroan; serta

• Memantau efektivitas Sistem Pelaporan Pelanggaran (Whistleblowing System/WBS).

Duties of Audit Committee in 2018

During the course of 2018, the Audit Committee has provided their professional and independent opinions to the Board of Commissioners in regard to the reports submitted by the Board of Directors, and has identified matters that requiring the attention of Board of Commissioners. Other duties carried out by the Audit Committee in 2018 are as follows:• Reviewing the reports, financial information,

and other information disclosures issued by the Company;

• Evaluating risk management and internal control systems; providing inputs regarding the appointment of Public Accounting Firm to the Board of Commissioners;

• Cooperating with Internal Audit;• Assisting the Board of Commissioners in

supervising the implementation of good corporate governance at the Company;

• Monitoring the implementation of Company’s Code of Conduct; and

• Monitoring the effectiveness of Whistleblowing System (WBS).

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KOMITE/FUNGSI NOMINASI DAN REMUNERASINomination and Remuneration Committee/Function

Berdasarkan POJK Nomor 34/POJK.04/2014 pasal 2 angka (1) menyebutkan bahwa Emiten atau Perusahaan Publik wajib memiliki fungsi nominasi dan remunerasi. Pasal 2 angka (2) menyebutkan bahwa fungsi nominasi dan remunerasi tersebut wajib dilaksanakan oleh Dewan Komisaris. Berdasarkan pasal 2 angka (3) menyebutkan bahwa Dewan Komisaris dalam melaksanakan fungsi nominasi dan remunerasi dapat membentuk Komite Nominasi dan Remunerasi, sedangkan pada pasal 2 angka (4) menyebutkan bahwa Komite Nominasi dan Remunerasi tersebut dapat dibentuk secara terpisah.

Merujuk pada ketentuan pasal 2 angka (1) s.d. (4) tersebut di atas, Dewan Komisaris dapat melaksanakan sendiri fungsi nominasi dan remunerasi tersebut atau membentuk Komite Nominasi dan Remunerasi secara terpisah. Dengan demikian, Dewan Komisaris Perseroan tidak wajib membentuk Komite Nominasi dan Remunerasi secara terpisah. Oleh karena Dewan Komisaris Perseroan tidak membentuk Komite Nominasi dan Remunerasi, fungsi nominasi dan remunerasi Perseroan dilaksanakan secara langsung oleh Dewan Komisaris Perseroan.

Seluruh aktivitas Komite Nominasi dan Remunerasi dijalankan oleh Dewan Komisaris. Agenda dan pelaksanaan tugas fungsi Nominasi dan Remunerasi telah dibahas dalam Rapat Dewan Komisaris.

Based on POJK No. 34/POJK.04/2014 article 2 number (1), Issuers or Public Companies are required to have nomination and remuneration function. Meanwhile, article 2 number (2) of the same POJK states that the nomination and remuneration function must be carried out by the Board of Commissioners. Article 2 number (3) of the same POJK also states that in conducting the nomination and remuneration function, the Board of Commissioners may establish a Nomination and Remuneration Committee. Finally, Article 2 number (4) of the same POJK states that the Nomination and Remuneration Committee may be established separately.

In compliance with the article 2 numbers (1) to (4) mentioned above, the Board of Commissioners may carry out the nomination and remuneration function on their own or establish a Nomination and Remuneration Committee separately. Therefore, the Company’s Board of Commissioners is not required to establish a separate Nomination and Remuneration Committee. As the Company does not establish a Nomination and Remuneration Committee, the function of nomination and remuneration in the Company is directly conducted by the Board of Commissioners.

All activities of the Nomination and Remuneration Committee are carried out by the Board of Commissioners; hence, agenda and duty implementation of the Nomination and Remuneration function have been discussed in the Meetings of Board of Commissioners.

207


SEKRETARIS PERUSAHAAN Corporate Secretary

Sesuai Peraturan Otoritas Jasa Keuangan Nomor 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik, Sekretaris Perusahaan adalah orang perseorangan atau penanggung jawab dari unit kerja yang menjalankan fungsi sekretaris perusahaan. Sekretaris Perusahaan Perseroan berada di bawah supervisi langsung Presiden Direktur dan merupakan organ pendukung perusahaan yang bertindak sebagai mediator Perseroan dengan para pemangku kepentingan seperti regulator, investor dan masyarakat luas khususnya hal yang terkait dengan pasar modal yang bertanggung jawab untuk memastikan kepatuhan perusahaan terhadap peraturan perundang-undangan yang berlaku sebagai bagian dari implementasi Tata Kelola.

Selain itu Sekretaris Perusahaan memiliki tugas dan tanggung jawab untuk senantiasa menjaga citra baik Perseroan di mata seluruh pemangku kepentingan secara luas.

Dasar Hukum

Dasar hukum penunjukan Ispandiati Makmur sebagai Sekretaris Perusahaan adalah melalui Keputusan Direksi No. 002/SKD-INPP/VI/2017 menggantikan Diana Solaiman pada tanggal 12 Juni 2017.

Profil Sekretaris Perusahaan

Ispandiati MakmurProfil Sekretaris Perusahaan telah disajikan pada bab Profil Manajemen.

Pursuant to the Regulation of Financial Services Authority No. 35/POJK.04/2014 regarding Corporate Secretary of Issuer or Public Company, the Corporate Secretary is an individual in charge of work units performing the secretariat function of the Company. The Corporate Secretary is under the direct oversight of the President Director and is a supporting of the Company, acting as a mediator between the Company and the stakeholders, including the regulators, investors, and public in general, especially on matters related to capital market. The Corporate Secretary is responsible for ensuring Company’s compliance with the prevailing laws and regulations as part of Governance implementation.

Furthermore, the Corporate Secretary has a duty and responsibility to always maintain the Company’s positive image in the eyes of the stakeholders.

Legal Basis

The legal basis for the appointment of Ispandiati Makmur as the Corporate Secretary is the Decree of Board of Directors No. 002/SKD-INPP/VI/2017. She replaced Diana Solaiman effective on 12 June 2017.

Profile of Corporate Secretary

Ispandiati MakmurProfile of the Corporate Secretary has been presented in the chapter of Management Profile.


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PRESIDEN DIREKTURPresident Director

SEKRETARIS PERUSAHAANCorporate Secretary


The duties and responsibilities of Corporate Secretary are as follows:• Keeping abreast of capital market development,

particularly the laws and regulations applicable in capital market in Indonesia.

• Giving inputs to the Company’s Board of Directors and Board of Commissioner on the compliance with the provisions and regulations of capital market in Indonesia.

• Assisting the Company’s Board of Directors and Board of Commissioners in the implementation of corporate governance which covers:• Information disclosure to the public, including

on the Company’s website.• Timely submission of reports to Financial

Services Authority (OJK).• Timely submission of reports to Indonesia

Stock Exchange.• Convention and documentation of

the Company’s General Meeting of Shareholders.

• Convention and documentation of meetings of Company’s Board of Directors and/or Board of Commissioners, as well as Meetings of Audit Committee.

• Implementation of orientation program for the Board of Directors and/or Board of Commissioners and Audit Committee.


Tugas dan tanggung jawab Sekretaris Perusahaan sebagai berikut:• Mengikuti perkembangan pasar modal

khususnya peraturan perundang-undangan yang berlaku di bidang pasar modal di Indonesia.

• Memberikan masukan kepada Direksi dan Dewan Komisaris Perseroan untuk mematuhi ketentuan dan peraturan pasar modal di Indonesia.

• Membantu Direksi dan Dewan Komisaris Perseroan dalam pelaksanaan tata kelola perusahaan yang meliputi:• Keterbukaan informasi kepada masyarakat,

termasuk pada website Perseroan.• Penyampaian laporan kepada Otoritas Jasa

Keuangan (OJK) tepat waktu.• Penyampaian Laporan kepada Bursa Efek

Indonesia tepat waktu.• Penyelenggaraan dan dokumentasi Rapat

Umum Pemegang Saham dari Perseroan.

• Penyelenggaraan dan dokumentasi rapat Direksi dan/atau Dewan Komisaris Perseroan, Rapat Gabungan Direksi dan Dewan Komisaris serta Rapat Komite Audit.

• Pelaksanaan program orientasi tentang Perseroan bagi Direksi dan/atau Dewan Komisaris dan Komite Audit.

Struktur Organisasi Sekretaris PerusahaanCorporate Secretary Organization Structure

209


• Penghubung antara Perseroan dengan Pemegang Saham Perseroan, Otoritas Jasa Keuangan, Bursa Efek Indonesia dan pemangku kepentingan lainnya.

Pelaksanaan Tugas dan Tanggung Jawab 2018

Sepanjang tahun 2018, Sekretaris Perusahaan telah melaksanakan tugas dan tanggung jawab sebagai berikut:• Menyelenggarakan Rapat Umum Pemegang

Saham Tahunan dan Rapat Umum Pemegang Saham Luar Biasa Tahun 2018.

• Menyelenggarakan Paparan Publik (Public Expose) Perseroan Tahun 2018.

• Partisipasi pada seminar-seminar yang diselenggarakan oleh Otoritas Jasa Keuangan, Bursa Efek Indonesia, Kustodian Sentral Efek Indonesia (KSEI), Asosiasi Emiten Indonesia (AEI), Indonesian Corporate Secretary Association (ICSA).

• Menyampaikan keterbukaan informasi Perseroan kepada masyarakat.

• As the liaison for the Company to the Shareholders, Financial Services Authority and other stakeholders.

Duties and Responsibil it ies in 2018

Throughout 2018, the Corporate Secretary has carried out the following duties and responsibilities:

• Convening the Annual General Meeting of Shareholders and Extraordinary General Meeting of Shareholders in 2018.

• Organizing the Company’s Public Expose in 2018.

• Participating in seminars organized by the Financial Services Authority, Indonesia Stock Exchange, Indonesian Central Securities Depository (KSEI), Indonesian Issuers Association (AEI), and Indonesian Corporate Secretary Association (ICSA).

• Delivering the Company’s information disclosure to the public.

INTERNAL AUDITInternal Audit

Internal Audit Perseroan memegang peran sebagai third line of defense. Internal Audit senantiasa memastikan bahwa pengendalian Internal di setiap line of defense semakin kuat dan matang. Internal Audit terus melakukan inovasi dalam penggunaan metodologi serta tools audit sehingga pelaksanaan audit lebih efektif dan efisien

Dasar Hukum

Audit Internal dibentuk berdasarkan POJK No. 56/POJK.04/2015 tentang Pembentukan dan Pedoman Penyusunan Piagam Unit Audit Internal.

The Company’s Internal Audit plays a role as the Third Line of Defense. The Internal Audit always ensures that Internal control in each line of defense is stronger and more mature, and continues to innovate the use of audit methodologies and tools so that audit activity implementation is more effective and efficient.

Legal Basis

The Company’s Internal Audit is established based on POJK No. 56/POJK.04/2015 regarding Establishment and Work Guidelines of Internal Audit Unit.


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Profil Chief Internal Audit

Manauri PardedeProfil Chief Internal Audit telah disajikan pada bab Profil Manajemen.

Struktur Organisasi dan Kedudukan Internal Audit

Fungsi pengawasan dan pengendalian internal Perseroan dievaluasi oleh Departemen Internal Audit yang dipimpin oleh seorang Chief Internal Audit dan bertanggung jawab secara langsung kepada Presiden Direktur Perseroan. Pelaporan Hasil Audit dan Progres Perbaikan atas temuan audit oleh Auditee dilakukan secara berkala oleh Departemen Internal Audit kepada Top Manajemen. Direksi memiliki tanggung jawab atas keseluruhan pengendalian Perseroan. Pengendalian internal dirancang untuk mengelola bukan untuk menghilangkan risiko bisnis. Untuk membantu melindungi aset perusahaan terhadap penipuan dan penyimpangan lainnya; dan untuk memberikan assurance yang wajar, namun tidak mutlak terhadap kesalahan atau kecurangan.

Profile of Chief Internal Audit

Manauri PardedeProfile of Chief Internal Audit has been presented in the chapter of Management Profile.

Organization Structure and Position of Internal Audit

The Company’s supervisory and internal control functions are evaluated by the Internal Audit Department led by the Chief Internal Audit, who is responsible directly to the President Director and Vice President Director of the Company. Report of Audit Results and Improvement Progress on audit findings by the Auditee is conducted periodically by the Internal Audit Department to the Top Management. The Board of Directors has overall responsibility for the Company’s internal control. Internal controls are designed to manage, rather than eliminate business risk; to help safeguard the Company’s assets against fraud and other irregularities; and to give reasonable, but not absolute assurance, against misstatement or fraud.

INTERNAL AUDIT


PRESIDEN DIREKTURPresident Director


Internal Audit di bawah arahan Komite Audit, membantu Direksi dengan meninjau operasional dan efektivitas sistem pengendalian internal Perseroan dan prosedur-prosedur dimana sistem ini dimonitor. Internal Audit bertanggung jawab langsung kepada Presiden Direktur dan dalam melaksanakan tugasnya Internal Audit melaporkan kegiatannya kepada Presiden Direktur dan Dewan Komisaris melalui Komite Audit.

Internal Audit, under the guidance of the Audit Committee, assists the Board of Directors by reviewing the operation and effectiveness of the Company’s internal control system, as well as the procedures by which the system is monitored. The Internal Audit is directly responsible to the President Director and in performing their duties, they shall report to the President Director and the Board of Commissioners through the Audit Committee.

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NO. PELATIHANTraining

PENYELENGGARAOrganizer

WAKTUTime

1 Time and Stress Management Learning Resources April 2018

2 Effective Communication Learning Resources April 2018

3 Strengthening Credibility Learning Resources September 2018

4 Teamwork Learning Resources November 2018

Fungsi Internal Audit dikelola oleh Chief Internal Audit yang diangkat dan diberhentikan oleh Presiden Direktur dengan persetujuan Dewan Komisaris seperti yang disarankan oleh Komite Audit. Pengangkatan dan pemberhentian Chief Internal Audit harus segera diinformasikan kepada Otoritas Jasa Keuangan (OJK).

Auditor yang merupakan anggota dari Internal Audit bertanggung jawab langsung kepada Chief Internal Audit dan tidak diperkenankan untuk memegang fungsi operasional lainnya di dalam Perseroan.

Kualifikasi dan Sertifikasi sebagai Profesi Internal Audit

Pada akhir Desember 2018, Departemen Internal Audit memiliki 4 (empat) orang anggota, termasuk 1 (satu) orang Chief Internal Audit.

Untuk meningkatkan kompetensi dan kemampuan personel Internal Audit, Perseroan akan selalu meningkatkan keahlian dan kompetensi seluruh anggota Internal Audit Departemen dalam pelatihan-pelatihan yang diadakan oleh lembaga-lembaga pelatihan Internal Audit.

Program Pengembangan Kompetensi Internal Audit

Dalam pengembangan karyawan Internal Audit, selama tahun 2018 telah dilakukan peningkatan kualitas kerja tim audit dengan melaksanakan training baik internal maupun eksternal sebagai berikut:

The Internal Audit function is managed by the Chief Internal Audit who is appointed and dismissed by the President Director upon the approval of the Board of Commissioners as advised by the Audit Committee. The appointment and dismissal of the Chief Internal Audit must be immediately informed to the Financial Services Authority (OJK).

Auditors who are members of the Internal Audit are responsible directly to the Chief Internal Audit and shall not hold any other operational function within the Company.

Qualifications and Certifications as Internal Auditors

At the end of December 2018, the Internal Audit Department has 4 (four) members including the Chief Internal Audit.

To improve the competency and capability, as well as the expertise of personnel of Internal Audit, the Company continuously holds training activities in cooperation with various internal audit training institutions.

Internal Audit Competence Development Programs

During 2018, the Company has conducted several training activities, both internally and externally to improve the quality of audit team work as well as the competency of each personnel of Internal Audit. The following table shall describe the training carried out in the current year:


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Charter of Internal Audit

The Company’s Internal Audit has established an Internal Audit Charter approved by the President Director and President Commissioner. The Company’s Internal Audit Charter contains:• Structure and Position of Internal Audit• Duties and Responsibilities of Internal Audit• Authority of Internal Audit• Code of Conduct• Requirements and IndependencyThe Internal Audit Charter provides guidance on the purpose, position, authority, responsibility and scope of work of internal audit.

Duties, Responsibil it ies, and Authority

Internal Audit is an independent and objective assurance and consultation activity designed to add value and improve the Company’s operation, by utilizing systematic methodology to evaluate and improve the effectiveness of risk management, control, and governance processes. Internal Audit is concerned with control activities that ensure the reliability and integrity of financial and operational information; the effectiveness and efficiency of operations; the safeguarding of assets; and the compliance with the laws, regulations, and contracts.

The duties and responsibilities of Internal Audit are:• Develop and execute the Company’s annual

Internal Audit plan.• Review and evaluate the operation of internal

control and risk management in accordance with the Company’s policy.

• Perform audit and assess the efficiency and effectiveness of all functions in the Company.

• Provide recommendations and objective information about the activities under review at all management levels.

• Report the audit result and deliver the report to President Director and Commissioner through Audit Committee.

• Monitor, analyze, and report the progress of the audit recommendation.

• Work together with the Audit Committee. • Develop programs to evaluate the quality of

Piagam Internal Audit

Internal Audit memiliki Internal Audit Charter atau Piagam Internal Audit yang disahkan oleh Presiden Direktur dan Presiden Komisaris. Piagam Internal Audit Perseroan memuat tentang:• Struktur dan Posisi Internal Audit• Tugas dan Tanggung Jawab Internal Audit• Wewenang Internal Audit• Kode Etik• Persyaratan dan IndependensiPiagam Internal Audit memberikan pedoman mengenai tujuan, kedudukan, wewenang, tanggung jawab dan ruang lingkup pekerjaan internal audit.

Tugas, Tanggung Jawab dan Wewenang

Internal Audit adalah sebuah kegiatan yang bersifat assurance dan konsultasi yang independen dan objektif yang dirancang untuk menambah nilai dan meningkatkan operasi Perseroan dengan memanfaatkan metodologi sistematis untuk mengevaluasi serta meningkatkan efektivitas manajemen risiko, pengendalian, dan proses tata kelola. Internal Audit berkaitan dengan kontrol yang memastikan kehandalan dan integritas informasi keuangan dan operasional; efektivitas dan efisiensi operasional; perlindungan atas Aset; serta kepatuhan terhadap hukum, peraturan dan kontrak.

Tugas dan tanggung jawab Internal Audit yaitu:• Mengembangkan dan melaksanakan rencana

Internal Audit tahunan Perseroan.• Meninjau dan mengevaluasi pelaksanaan

pengendalian internal dan manajemen risiko sesuai dengan kebijakan Perusahaan.

• Melakukan audit dan menilai efisiensi dan efektivitas semua fungsi di Perusahaan.

• Memberikan rekomendasi dan informasi yang obyektif tentang kegiatan yang diperiksa pada semua tingkat manajemen.

• Melaporkan hasil kegiatan audit dan menyampaikan laporan kepada Presiden Direktur dan Komisaris melalui Komite Audit.

• Memonitor, menganalisa, dan melaporkan kemajuan rekomendasi audit.

• Bekerja sama dengan Komite Audit.• Mengembangkan program dalam rangka untuk

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mengevaluasi internal audit yang dilakukan.• Melakukan audit khusus jika diperlukan.

Wewenang Internal Audit sebagai berikut:

• Mengakses semua informasi yang relevan mengenai perusahaan yang berkaitan dengan tugas dan tanggung jawabnya. Setiap perselisihan yang signifikan mengenai akses tersebut akan dilaporkan kepada Presiden Direktur untuk resolusi.

• Melakukan komunikasi secara langsung dengan Presiden Direktur, Komisaris, dan/atau Komite Audit serta anggota Direksi, Komisaris, dan/atau Komite Audit.

• Mengadakan rapat secara berkala dan ad hoc dengan Presiden Direktur, Dewan Komisaris dan atau Komite Audit.

• Mendapatkan dukungan dari semua staff dan Manajemen dengan menyediakan informasi dan penjelasan yang diperlukan dalam rangka melakukan tugasnya.

• Melakukan koordinasi antara kegiatannya dengan kegiatan Auditor Eksternal.

Laporan Singkat Pelaksanaan Kegiatan Internal Audit Tahun 2018

Program Kerja Internal AuditInternal Audit telah menyusun dan menetapkan rencana audit tahun 2018 sebagai program kerja Internal Audit yang sejalan dengan fokus utama Perseroan. Melalui rencana audit tersebut, Internal Audit ingin memastikan pertumbuhan bisnis Perseroan dilakukan secara prudent dan diimbangi dengan penerapan tata kelola perusahaan yang kuat di seluruh area operasional sehingga dapat menopang pertumbuhan kinerja berkelanjutan, untuk mencapai visi dan misi Perseroan.

Program kerja Internal Audit pada tahun 2018 sebagai berikut:

internal audit performed.• Perform special audit, if necessary.

Meanwhile, the authority of Internal Audit is as follows:• To access all relevant information regarding

the Company related to its duties and responsibilities. Any significant disagreement regarding such access will be reported to the President Director for resolution.

• To communicate directly with the President Director, Commissioner, and/or Audit Committee and the members of Board of Directors, Board of Commissioners and/or Audit Committee.

• To conduct periodic and ad hoc meetings with the President Director, Board of Commissioners and/or the Audit Committee.

• To get support from all staffs and management by providing information and explanations necessary in order to perform its duty.

• To coordinate its activity with the activities of external auditors.

Brief Report on the Implementation of Internal Audit Activities in 2018

Work Programs of Internal AuditThe Company’s Internal Audit has prepared and established an audit plan for 2018 as an Internal Audit work program that is in line with the Company’s main focus. Through the audit plan, the Internal Audit shall ensure the Company’s business growth is carried out prudently, and balanced with the implementation of strong corporate governance in all operational areas in order to sustain the continuous performance growth to achieve the Company’s vision and mission.

The Internal Audit work programs in 2018 are as follows:


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Metode Audit

Internal Audit menerapkan metodologi risk-based audit dalam melaksanakan aktivitas internal audit dengan memfokuskan pada area yang berisiko tinggi. Penerapan metodologi ini sesuai dengan kebutuhan organisasi, ketentuan Regulator dan best practices. Penerapan metodologi risk-based audit membutuhkan kerjasama yang baik antara Internal Audit dengan Unit Kerja Manajemen Risiko Operasional.

Pelaksanaan Kegiatan Audit Tahun 2018

Realisasi pelaksanaan kegiatan audit tahun 2018 sebagai berikut:

Audit Methods

The Internal Audit applies the risk-based audit methodology in carrying out internal audit activities by focusing on high-risk areas. The implementation of this methodology is in accordance with the organization needs, Regulator’s provisions, and best practices. The implementation of risk-based audit methodology requires good collaboration between Internal Audit with Operational Risk Management Work Unit.

Implementation of Audit Activities in 2018

Realization of audit activities in 2018 is described below:

• 23 Paskal Shopping Center - Bandung

• POP! Hotel Sangaji - Yogyakarta

• Park23 Entertainment Center - Bali

• HARRIS Suites fX Sudirman - Jakarta

• beachwalk Shopping Center - Bali

• Maison Aurelia - Bali

• HARRIS Hotel Tuban - Bali

• HARRIS Resort Waterfront - Batam

• HARRIS Hotel Batam Center - Batam

• One Residence - Batam

• Procurement

• Legal & Corporate secretary

• Project Planning & Design

• Office support

• Finance

• Accounting

• Owner Representative - Bali

• Project Construction - Bali

• Owner Representative - Batam

• Project Marketing - Batam

• Project Construction - Batam

• Human Resources

• PT Mitra Perdana Nuansa

• PT Kega Property Utama

• PT Praba Kumala Sajati

• PT Padma Suasa

• PT Aneka Bina Laras

• PT Indonesian Paradise Island

• PT Segara Biru Kencana

• PT Indonesian Paradise Property (Parent Only)

• PT Anugerah Nusaraya

• PT Retzan Indonusa

AUDIT DEPARTEMEN Audit on Department

AUDIT ENTITAS ANAK Audit on Subsidiary

AUDIT UNIT BISNIS Audit on Business Unit

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NO. DEPARTEMEN Department

TANGGAL PELAKSANAAN Date of Implementation

1 Procurement 13-19 February 2018

2 Legal & Corporate secretary 9-17 April 2018

3 Project Planning & Design 14-18 May 2018

4 Office support 2-13 July 2018

5 Finance 23-27 July 2018

6 Accounting 1-10 August 2018

7 Owner Representative – Bali 13-17 August 2018

8 Project Construction – Bali 20-24 August 2018

9 Owner Representative – Batam 24-28 September 2018

10 Project Marketing – Batam 8-12 October 2018

11 Project Construction – Batam 8-12 October 2018

12 Human Resources 29 October - 9 November 2018

NO. NAMA ENTITAS ANAKName of Subsidiary


1 PT Mitra Perdana Nuansa 19-29 March 2018

2 PT Kega Property Utama 27 April - 8 May 2018

3 PT Praba Kumala Sajati 24 May - 6 June 2018

4 PT Padma Suasa 5-10 July 2018

5 PT Aneka Bina Laras 5-10 July 2018

6 PT Indonesian Paradise Island 30 October - 5 November 2018

7 PT Segara Biru Kencana 3-14 September 2018

8 PT Anugerah Nusaraya 24-28 September 2018

9 PT Retzan Indonusa 8-12 October 2018


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NO. NAMA UNIT USAHAName of Business Unit


1 23 Paskal Shopping Center - Bandung 19-29 Maret 2018

2 POP! Hotel Sangaji – Yogyakarta 16-20 April 2018

3 Park23 Entertainment Center – Bali 14-18 May 2018

4 HARRIS Suites fX Sudirman – Jakarta 25 June-3 July 2018

5 beachwalk Shopping Center – Bali 16-20 July 2018

6 Maison Aurelia – Bali 13-24 August 2018

7 HARRIS Hotel Tuban – Bali 13-24 August 2018

8 HARRIS Resort Waterfront – Batam 24-28 September 2018

9 HARRIS Hotel Batam Center – Batam 8-12 October 2018

10 One Residence – Batam 8-12 October 2018

Tindak Lanjut atas Temuan

Selain pelaksanaan audit, Internal Audit juga senantiasa melakukan monitoring rencana tindak lanjut atas temuan audit dengan melakukan pemantauan tindak lanjut atas hasil pemeriksaan ke auditee secara berkala. Dimana hasil dari pemantauan tersebut dituangkan dalam bentuk laporan tindak lanjut atas hasil pemeriksaan, yang tujuannya adalah untuk:1. Memastikan bahwa saran/rekomendasi

auditor yang dimuat dalam laporan hasil audit telah dilaksanakan secara memadai, dan tepat waktu oleh auditee,

2. Mengetahui perkembangan tindak lanjut saran/rekomendasi dalam Laporan Hasil Audit lalu yang masih belum selesai, dan

3. Memastikan bahwa temuan yang diperoleh dalam audit sebelumnya tidak ditemukan lagi dalam audit yang sedang dilaksanakan.

Follow-Up on Findings

In addition to conducting audit activity, the Internal Audit constantly monitors plans for follow-up on audit findings by regularly overseeing follow-up activity on the audit results to the auditee. The results of oversight are set forth in a follow-up report on audit results, which aims to:

1. Ensure that the auditor’s recommendations contained in the audit report have been carried out in an adequate and timely manner by the auditee,

2. Understand the progress of follow-up on recommendations in the Audit Results Report, which have yet to be completed, and

3. Ensure that the findings obtained in the previous audit were not encountered again in the current audit activity.

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AKUNTAN PUBLIK Public Accountant

Mekanisme Penunjukan Kantor Akuntan Publik

Pelaksanaan audit Laporan Keuangan Perseroan dilakukan dengan menunjuk Kantor Akuntan Publik. Penunjukan Kantor Akuntan Publik diputuskan melalui Rapat Umum Pemegang Saham berdasarkan rekomendasi dari Dewan Komisaris yang mendapatkan masukan Komite Audit. Tidak ada jasa lain yang diberikan oleh Kantor Akuntan Publik selain melakukan audit Laporan Keuangan Perseroan.

Informasi Kantor Akuntan Publik dan Jasa yang Diberikan

Informasi Kantor Akuntan Publik Perseroan pada 5 (lima) tahun terakhir adalah sebagai berikut:

Mechanism of Appointment of Public Accounting Firm

The audit activity on the Company’s Financial Statements is conducted by appointing a Public Accounting Firm. The appointment of Public Accounting Firm is decided in the General Meeting of Shareholders based on the recommendations from the Board of Commissioners with prior advice from the Audit Committee. Aside from audit activity on the Company’s Financial Statements, there is no other service provided by the Public Accounting Firm.

Information on Public Accounting Firm and Their Services

Information on the Company’s Public AccountingFirm in the last 5 (five) years is as follows:

PERIODEPeriod

KANTOR AKUNTAN PUBLIKPublic Accounting Firm

JENIS JASAType of Service

AKUNTAN PUBLIKPublic Accounting

2018 KAP Tanubrata Sutanto Fahmi Bambang & Rekan

Audit Keuangan tahun 2018Financial Audit for 2018

Ledo Ekodianto


Audit Keuangan tahun 2017Financial Audit for 2017

Ledo Ekodianto


Audit Keuangan tahun 2016 Financial Audit for 2016

Ledo Ekodianto

2015 KAP Tanubrata Sutanto Fahmi & Rekan Audit Keuangan tahun 2015Financial Audit for 2015

Susanto Bong

2014 KAP Tanubrata Sutanto Fahmi & Rekan Audit Keuangan tahun 2014Financial Audit for 2014

Susanto Bong


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Plaza Indonesia Shopping CenterJakarta

MANAJEMEN RISIKORisk Management

Gambaran Umum Sistem Manajemen Risiko

Proses manajemen risiko di lingkungan bisnis Perseroan mencakup proses identifikasi risiko yang signifikan dalam kegiatan bisnis Perseroan, pengukuran risiko dilakukan dengan metodologi yang memadai. Sementara, pengelolaan dan pengendalian serta pelaporan risiko dilakukan secara berkesinambungan untuk mengevaluasi dan mengelola risiko, serta memastikan bahwa mitigasi atau eksposur risiko telah sesuai dengan risk appetite Perseroan.

General Description on Risk Management System

The risk management system within the Company’s business environment covers the risk identification process that is significant in ensuring business activities. Risk measurement is carried out using an adequate methodology while risk management, control, and reporting are conducted continuously to evaluate and manage risks, and to ensure that risk mitigation or exposire has been in line with the Company’s risk appetite.

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Proses identifikasi risiko merupakan langkah awal dalam penerapan sistem manajemen risiko di Perseroan. Identifikasi risiko dilakukan secara akurat dan komprehensif. Perseroan senantiasa mengumpulkan data sebanyak mungkin untuk melihat potensi dan pengukuran risiko yang dilakukan melalui survei, wawancara, data historis, dan brainstorming dalam rapat antar departemen. Risiko yang dapat terjadi dalam aktivitas usaha umumnya bersumber dari unsur ketidakpastian yang menyebabkan tertekannya profitabilitas hingga dapat menimbulkan kerugian. Proses identifikasi risiko memudahkan Perseroan untuk mengetahui bahaya yang ditimbulkan terkait aktivitas bisnis Perseroan.

Kemudian, Perseroan melakukan pengelolaan dan pengendalian risiko dengan menggunakan pendekatan terstruktur mulai dari penilaian risiko hingga pengembangan strategi untuk mengelola dan menyusun mitigasi risiko. Khusus mitigasi risiko, Perseroan menggunakan sumber daya yang dimiliki perusahaan. Dalam proses ini, Perseroan menyusun serangkaian rencana kegiatan penanganan guna memperkecil eksposur risiko. Perseroan juga melakukan evaluasi atas efektivitas sistem manajemen risiko yang dilakukan secara berkala.

Jenis Risiko dan Pengelolaannya

Sejalan dengan bidang usaha Perseroan, yaitu properti yang terutama berfokus pada perhotelan, terdapat faktor-faktor risiko yang harus dihadapi, terutama:

• Risiko Persaingan usaha

Untuk menghadapi persaingan usaha, Perseroan berusaha meningkatkan kualitas pelayanan tamu dengan harga yang bersaing. Perseroan juga selalu berusaha melakukan inovasi-inovasi yang unik dalam pengelolaan hotel-hotelnya.

• Risiko Gangguan Keamanan

Usaha Perseroan erat kaitannya dengan kondisi keamanan dalam negeri. Adanya beberapa negara yang mengeluarkan

Risk identification process becomes the first step in the implementation of Company’s risk management system. Risk identification is conducted in an accurate and comprehensive manner in which the Company always gathers data as much as possible to view and measure risk potentials. Suhc data collection is conducted through surveys, interviews, historic data, and brainstorming in inter-departmental meetings. Risks that can occur in business activities generally come from uncertainty that causes pressure on profitability, which may result in losses. The risk identification process facilitates the Company to determine the dangers posed in relation to the Company’s business activities.

The Company then conducts risk management and control using a structured approach, from risk assessment to strategy development, in order to manage and prepare risk mitigation. Specific for risk mitigation, the Company utilizes its own resources. In this process, the Company compiles a series of management plans to minimize risk exposure. The Company also evaluates the effectiveness of risk management system which is conducted regularly.

Types and Management of Risks

As the Company engages in property sector with a focus on accommodation (hotel) provision, risks faced by the Company are as follows:

• Business Competition Risk

In facing the competition, the Company attempts to improve the service quality to the guests with competitive price. In addition, the Company also continues conducting unique innovations in managing the hotels.

• Security Disturbance Risk

The Company’s business is very much related to the domestic security condition. The travel warning issued by several countries to their


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peringatan (Travel Warning) bagi warganya untuk bepergian ke Indonesia juga mempengaruhi jumlah wisatawan yang akan ke Indonesia. Demikian pula dengan wisatawan lokal yang merasa tidak aman sehingga berdampak pada penurunan tingkat hunian (Occupancy Rate).

Guna meminimalisasi risiko, Perseroan juga telah mengasuransikan keseluruhan aset Perseroan seperti Gedung, kendaraan bermotor, mesin, peralatan, furnitur, dan lain-lain dari kerusakan akibat kebakaran, bencana alam, kerusuhan, serta klaim Pihak Ketiga (Public Liabilities).

Evaluasi atas Efektivitas Sistem Manajemen Risiko

Secara berkala, Perseroan melakukan evaluasi atas efektivitas sistem manajemen risiko perusahaan antara lain dilakukan melalui:• Inovasi dan pengembangan usaha telah

dilakukan, misalnya dengan pengembangan bisnis hotel dan pusat perbelanjaan secara lebih baik serta mulai masuk pembangunan apartemen sebagai usaha barunya.

• Tindakan Perseroan dengan mengasuransikan secara all risk aset-asetnya maupun terhadap klaim Pihak ketiga juga cukup efektif meminimalkan pengeluaran ekstra Perseroan.

Pada tahun 2018, Perseroan telah melaksanakan evaluasi atas efektivitas sistem manajemen risiko Perseroan yang dilakukan oleh manajemen, dan menghasilkan kesimpulan bahwa sistem manajemen risiko Perseroan telah berjalan dengan sangat efektif.

citizens who wish to travel to Indonesia affect the number of tourists travelling to Indonesia. Domestic tourists also feel unsafe to travel that it impacts the occupancy rate.

To minimize the risks, the Company has covered all risk insurance for company assets, including building, vehicles, machines, furniture and others covering the damage caused by fire, natural disasters, riots and others as well from a Third-Party claim (Public Liabilities).

Evaluation on the Effectiveness of Risk Management System

Periodically, the company evaluates the effectiveness of risk management system in its environment through:• Innovation and development efforts that

have been conducted, for example better development of hotel and shopping center businesses and initiative to enter into apartment development as the new business.

• The Company actions to insure assets in all-risk scheme as well as against third party claims that are also quite effective to minimize extra expenditure of the Company.

In 2018, the Company’s Management conducted assessment on the effectiveness of risk management system and concluded that the Company’s risk management system has run properly and effectively.

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SISTEM PENGENDALIAN INTERNAL Internal Control System

Sistem Pengendalian Internal mendukung pencapaian tujuan kinerja Perseroan, guna meningkatkan nilai bagi seluruh pemangku kepentingan, meminimalisir risiko kerugian dan menjaga kepatuhan pada ketentuan dan peraturan penundang-undangan yang berlaku. Sistem pengendalian internal yang ada di Perseroan berfungsi sebagai pencegah terjadinya kecurangan (fraud) dalam proses bisnis dengan meningkatkan dan memperkuat lingkup pengendalian internal. Sistem pengendalian Internal yang diterapkan di Perseroan merupakan proses penyatuan tindakan serta kegiatan secara berkesinambungan baik oleh pimpinan perusahaan maupun pegawai untuk memberikan keyakinan atas tercapainya tujuan melalui kinerja yang efektif dan efisien, kehandalan pelaporan keuangan, pengamanan aset, serta ketaatan terhadap peraturan perundang-undangan.

Penerapan Sistem Pengendalian Intern Perseroan mengacu pada COSO (Committee of the Sponsoring Organizations of the Treadway Commission) - Internal Control Integrated Framework dalam menyusun kerangka kerja pengendalian internal yang memastikan kecukupan pengendalian operasional maupun finansial, pelaporan keuangan, efektivitas dan efisiensi operasional, serta kepatuhan terhadap hukum dan peraturan yang berlaku.

Internal Control System supports the achievement of company’s performance objectives to improve added values for all stakeholders, minimize risk of loss, and maintain compliance with the prevailing laws and regulations. The Company’s internal control system functions to prevent fraud activities from occurring in its business process by improving and strengthening internal control scope. The internal control system implemented in the Company is a combination of action and activities in a sustainable manner, conducted by either the management or the employees. The aim is to provide assurance on target achievement through an effective and efficient performance, reliability of financial reporting, asset security and compliance with the laws and regulations.

The implementation of Internal control System at the Company refers to COSO (Committee of Sponsoring Organization of the Treadway Commission) - Internal Control Integrated Framework. This is utilized to prepare an internal control framework which ensures the adequacy of operational and financial controls, financial reporting, operations effectiveness and efficiency, and compliance with the prevailing laws and regulations.


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Sistem Pengendalian Operasional dan Keuangan

Perseroan menjalankan sistem pengendalian keuangan dan operasional secara berjenjang yang meliputi organ tata kelola yang ada di Perseroan seperti Dewan Komisaris, Direksi, Komite Audit, serta Audit Internal.• Dewan Komisaris, melakukan pengawasan dan

memberikan saran terkait proses pengelolaan Perseroan, pengembangan usaha, serta pengelolaan risiko dengan menerapkan prinsip kehati-hatian.

• Direksi mengembangkan sistem pengendalian internal perusahaan agar dapat berfungsi secara efektif untuk mengamankan investasi dan aset Perseroan.

• Audit Internal membantu Presiden Direktur dalam melaksanakan audit intern keuangan dan operasional Perseroan serta menilai pengendalian, pengelolaan dan pelaksanannya serta memberikan saran-saran perbaikan.

• Komite Audit menilai pelaksanaan kegiatan serta hasil audit yang dilakukan Audit Internal, memberikan rekomendasi penyempurnaan sistem pengendalian manajemen serta mengidentifikasi hal-hal yang memerlukan perhatian Dewan Komisaris.

Kesesuaian Sistem Pengendalian Internal dengan Kerangka COSO

Sistem pengendalian keuangan dan operasional Perseroan sejalan dengan sistem pengendalian internal menurut Committee of Sponsoring Organization of the Treadway Commission (COSO). Dalam COSO disebutkan bahwa pengendalian intern merupakan sistem atau proses yang dijalankan oleh Dewan Komisaris, Direksi, Manajemen serta karyawan dalam sebuah perusahaan, untuk menyediakan jaminan yang memadai demi tercapainya tujuan pengendalian. COSO – Internal Control Framework, terdiri dari 5 (lima) komponen pengendalian yaitu:• Lingkungan Pengendalian• Penilaian Risiko• Kegiatan Pengendalian• Informasi dan Komunikasi• Pemantauan

Operational and Financial Control System

The Company conducts financial and operational control system in a gradual manner, which cover the Company’s governance organs, i.e. the Board of Commissioners, Board of Directors, Audit Committee and Internal Audit.• The Board of Commissioners provides

supervisory and advisory activities related to the Company’s management process, business development and risk management by always implementing prudent principle.

• The Board of Directors develops the Company’s internal control system so as to function effectively to secure the Company’s investment and assets.

• The Internal Audit assists the President Director in implementing the Company’s internal audit on finance and operations, and in evaluating the control, management and implementation of audit activity in addition to providing improvement recommendations.

• The Audit Committee evaluates the implementation and results of audit activities conducted by the Internal Audit, provides recommendations on management control system and identifies matters requiring the attention of Board of Commissioners.

Conformity of Internal Control System with COSO Framework

The Company’s financial and operational control system is in line with the internal control system standards issued by the Committee of Sponsoring Organization of the Treadway Commission (COSO). Internal control, according to COSO, is a system or process performed by the Board of Commissioners, Board of Directors, Management, and employees in a company to provide adequate assurance for the realization of control objectives. COSO – Internal Control Framework comprises 5 (five) control components, namely:

• Control Environment• Risk Assessment• Control Activities• Information and Communication • Monitoring

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Evaluasi atas Efektivitas Sistem Pengendalian Internal

Pada tahun 2018, Perseroan telah menjalankan pengendalian internal sesuai dengan prinsip-prinsip pengendalian dan secara keseluruhan kualitas sistem pengendalian internal telah berjalan dengan baik. Permasalahan yang terkait dengan kecukupan pengendalian internal telah dilaporkan kepada Presiden Direktur dan langkah-langkah tindak lanjut telah dilakukan untuk meminimalisasi risiko. Laporan juga disampaikan kepada Dewan Komisaris melalui Komite di tingkat Dewan Komisaris.

Dewan Komisaris dan Direksi menyimpulkan bahwa hingga tanggal 31 Desember 2018, sistem pengendalian internal atas laporan keuangan telah berjalan dengan efektif. Pengujian sistem pengendalian internal Perseroan, sejalan dengan kerangka yang diakui secara internasional melalui COSO, dilakukan dalam rangka melihat tingkat efektivitasnya yang meliputi:

A. Pengujian Pengendalian LingkunganPengujian lingkungan pengendalian dilakukan untuk memberikan keyakinan yang memadai bahwa lingkungan organisasi mendukung Sistem Pengendalian Internal yang memadai dan praktik manajemen yang cermat. Pengujian ini penting karena pengendalian lingkungan mempengaruhi komponen-komponen Sistem Pengendalian Internal lainnya.

Pokok-pokok pengujian yang meliputi integritas dan etika; komitmen terhadap kompetensi; gaya operasi dan filosofi manajemen; struktur organisasi; tanggung jawab dan wewenang; kebijakan dan praktik sumber daya manusia; serta kegiatan pengawasan di seluruh unit kerja dan kantor pusat untuk tahun yang berakhir 31 Desember 2018 sudah cukup memadai.

B. Pengujian Atas Penilaian RisikoPengujian atas penilaian risiko ini bertujuan untuk membantu pimpinan unit kerja dan penilai lainnya dalam menentukan seberapa baik pengendalian internal suatu unit kerja atau perusahaan, khususnya yang berkaitan dengan penilaian risiko telah didesain, dan berfungsi

Evaluation on the Effectiveness of Internal Control System

The Company has implemented internal control in accordance with the applicable control principles during the course of 2018. Overall, the quality of internal control system in the Company has been well implemented. Issues related to the adequacy of internal control have been reported to the President Director and follow-up actions have been taken to minimize risks. The report is also submitted to the Board of Commissioners through the Committee at the Board of Commissioners level.

The Board of Commissioners and Board of Directors conclude that, as of December 31, 2018, the internal control system on financial statements has been effectively implemented. The examination on Company’s internal control system, in line with the internationally recognized framework through COSO, has been carried out to observe the level of effectiveness, which includes:

A. Examination of Control EnvironmentThe examination of control environment is conducted to provide reasonable assurance that the organization’s environment supports an adequate Internal Control System and thorough management practices. This examination is significant as control environment affects the other components of Internal Control System.

Examination principals which cover the integrity and ethics; commitment to competence; style of operation and management philosophy; organizational structure; responsibility and authority; human resources policies and practices; and monitoring activities in all work units and head office for the year ended on 31 December 2019 is relatively sufficient.

B. Examination of Risk AssessmentRisk assessment aims to assist the head of work units and other assessors in determining the extent of internal control effectiveness of a work unit or company, particularly those related to risk assessment that has been designed, and functions to assist the determination of issues in


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serta untuk membantu menentukan hal-hal yang memerlukan perbaikan.

Alat untuk melakukan pengujian ini adalah berupa faktor-faktor yang merupakan hal-hal penting yang terkandung di dalamnya. Faktor-faktor tersebut adalah untuk membantu pengguna dalam mempertimbangkan apakah suatu pengendalian internal khususnya yang berkaitan dengan penilaian risiko telah berjalan secara efektif atau tidak. Perlu dipertimbangkan pula faktor-faktor tersebut dalam kaitannya dengan aplikasi masing-masing faktor sesuai dengan keadaan, kemungkinan kelemahan pengendalian yang ada, dan sejauh mana faktor-faktor tersebut mempengaruhi pencapaian visi, misi, tujuan, dan sasaran organisasi.

Dari pokok-pokok atas penilaian risiko, baik penetapan tujuan organisasi; penetapan tujuan operasional; identifikasi risiko; analisis risiko dan pengelolaan risiko akibat perubahan selama 2018 dari unit kerja yang telah dilakukan pengujiannya, menurut pendapat Audit Internal dinilai cukup memadai.

C. Pengujian Aktivitas PengendalianPenilaian/pengujian aktivitas pengendalian bertujuan memastikan adanya pengendalian yang dikelola oleh manajemen sehingga efektif untuk menjaga arah tujuan organisasi. Dalam menilai/menguji aktivitas pengendalian, perlu dipertimbangkan apakah aktivitas pengendalian telah sesuai, jumlahnya memadai dan telah beroperasi secara efektif.

Bentuk pengujian yang dilakukan berbeda-beda, tergantung pada pengendalian yang dievaluasi dan lingkup pengendalian. Jika tujuan peninjauan adalah untuk menetapkan apakah seluruh pembayaran telah diotorisasi, maka pengujian akan dititikberatkan/difokuskan pada pengendalian yang digunakan oleh entitas sehubungan dengan otorisasi pembayaran. Sehingga, pengujian spesifik akan tergantung pada aktivitas pengendalian spesifik yang digunakan. Pengujian pengendalian selama proses pemeriksaan pada 2018 di Perseroan sudah sangat memadai.

need of improvement.

Tools to perform this examination are factors containing crucial matters in them, which are utilized to assist the users in considering whether an internal control, particularly the one related to risk assessment, has been effective. It is also important to consider that these factors, in relation to each application, are in accordance with the circumstances, possible weaknesses of existing controls, and the extent to which these factors influence the achievement of the organization’s vision, mission, goals, and objectives.

Based on the principals of risk assessment, covering the determination of organizational goals and operational objectives; risk identification; and risk analysis and management due to changes during 2018 from the work units that have been examined, the Internal Audit considers that the examination has been sufficient.

C. Examination of Control ActivityAssessment/examination of control activity aims to ensure controls by management has been effective in safeguarding the direction of organization’s objectives. In assessing/examining control activity, it is necessary to consider whether control activity has been appropriate, whether the number has been sufficient, and whether it has effectively operated.

The forms of examination conducted are different depending on the evaluated control and the scope of control. If the purpose of review is to determine whether all payments have been authorized, the examination will be focused on the controls used by the entity in connection with the payment authorization. Thus, specific examination will be subject to the specific control activities implemented. Control examination during the audit process of 2018 in the Company has been highly adequate.

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D. Pengujian Informasi dan Komunikasi

Pengujian komponen Sistem Pengendalian Internal informasi dan komunikasi bertujuan memberikan keyakinan yang memadai bahwa informasi yang relevan dan dapat dipercaya telah dimiliki, dicatat, dan dikomunikasikan secara efektif kepada pimpinan entitas dan pihak lain yang memerlukannya dalam bentuk dan jangka waktu untuk melaksanakan tanggung jawab pengendalian internal dan operasionalnya. Proses informasi dan komunikasi dari jajaran tertinggi, yaitu pemegang saham sampai level karyawan telah berjalan sangat baik.

Laporan-laporan yang berjalan, rapat koordinasi dengan pembahasan pengambilan keputusan atas semua hasil laporan yang telah dibuat serta media informasi dan komunikasi telah disusun dengan baik, sehingga dapat disimpulkan sistem pengendalian internal pengujian atas informasi dan komunikasi ini berjalan sangat memadai.

E. Pengujian PemantauanPengujian komponen Sistem Pengendalian Internal dilakukan untuk mendapatkan keyakinan yang memadai dan dilaksanakan secara efektif. Hasil pengujian akan mempengaruhi langkah-langkah pemeriksaan selanjutnya. Pengujian pemantauan meliputi pemantauan berkelanjutan tentang seluruh aktivitas operasional di unit kerja, pemantauan berkelanjutan tentang hasil proses audit internal maupun eksternal, yakni penyelesaian permasalahan dilakukan sampai tuntas serta adanya tanggung jawab yang jelas atas setiap hal yang perlu mendapatkan perhatian. Hasil observasi dan wawancara yang telah dilakukan sepanjang 2018, menyatakan bahwa pengujian pemantauan (monitoring) di Perseroan telah cukup memadai.

Evaluasi yang telah dilakukan menjadi salah satu fondasi bagi perusahaan untuk terus melaksanakan perbaikan dan penyempurnaan sistem pengendalian yang dapat meningkatkan pertumbuhan perusahaan.

D. Examination of Information and CommunicationExamination of the information and communication components of Internal Control System aims to provide adequate assurance that the relevant and reliable information has been established, recorded, and communicated effectively to the leaders of entity and other parties requiring the information, in a form and period needed to conduct internal control responsibility and its operations. Information and communication process from the highest level, namely the shareholders, to the employee level has been well implemented.

The ongoing reports, coordination meetings to discuss decisions to be made on all prepared reports, as well as the information and communication media, have been properly formulated. Hence it can be concluded that internal control system to examine the information and communication component has been adequately implemented.

E. Examination of MonitoringThe examination of Internal Control System components is conducted in an effective manner to obtain adequate assurance. Examination results will, in turn, affect the next examination steps. Monitoring examination includes continuous monitoring activity on all operational activities in work units, continuous monitoring on internal and external audit results; i.e. thorough completion of the problem, and the presence of a clear responsibility for all matters requiring attention. The results of observations and interviews conducted throughout the year, stated that the monitoring examination in the Company has been relatively sufficient.

Evaluation that has been conducted become one of the foundations for the Company to continuously perform improvements of control system that can support the Company’s business growth.


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KEBIJAKAN PENGADAAN BARANG DAN JASA SERTA HUBUNGAN DENGAN PEMASOKPolicy on Goods and Services Procurement and Relationship with Suppliers

Kebijakan Pengadaan Barang dan Jasa

Perseroan memiliki kebijakan terkait Pengadaan Barang dan Jasa yang menjadi acuan utama semua aktivitas pengadaan barang dan jasa yang dilakukan oleh unit-unit kerja. Kebijakan ini merupakan salah satu perwujudan proses Tata Kelola Perusahaan yakni transparansi dalam hal pengadaan, dimana proses pengadaan dilakukan mengikuti Standard Operating Procedure (SOP) dengan memperhatikan beberapa aspek, antara lain:• Pelaksanaan prinsip keterbukaan dan

menghindari benturan kepentingan;• Fokus pada tujuan untuk mendapatkan tingkat

mutu barang atau jasa terbaik serta efisiensi pembelian yang optimal melalui perbandingan mutu dan tingkat harga yang ditawarkan oleh Rekanan.

Pengelolaan pengadaan dilakukan oleh unit Procurement, serta melibatkan unit-unit terkait lainnya termasuk Legal, Finance, dan Unit Audit Internal guna memastikan proses Tata Kelola Perusahaan berjalan dengan standar terbaik. Seluruh proses pengadaan mengikuti prosedur yang berlaku (Standard Operating Procedure/SOP), termasuk kewenangan, limit persetujuan, klasifikasi, serta pembagian tugas dan tanggung jawab dalam proses pengadaan barang dan jasa di Perseroan.

Policy on Goods and Services Procurement

The Company has established a policy related to the Procurement of Goods and Services which become the main reference for all goods and services procurement activities carried out by work units. This policy is one of the manifestations of the Corporate Governance process, namely transparency in terms of procurement, in which the procurement process is carried out in accordance with the Standard Operating Procedure (SOP) by taking into account several aspects, such as:• Implementation of transparency principle and

avoidance of conflicts of interest;• Focus on the goals to obtain the best quality

of goods or services and to optimally conduct efficiency in purchasing by comparing the quality and level of prices offered by the Partner.

Procurement management is carried out by the Procurement unit and involves other related units, including Legal, Finance, and Internal Audit Units, to ensure that Corporate Governance process runs to the best standards. The entire procurement process follows the applicable procedures (Standard Operating Procedure/SOP), including authority, limits of approval, classification, and division of duties and responsibilities in the process of goods and services procurement in the Company.

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Park23 Entertainment CenterBali

Aktivitas Terkait Kriteria dan Seleksi Rekanan (Pemasok)

Rekanan yang terlibat dalam pengadaan barang atau jasa adalah Rekanan yang telah terdaftar melalui proses pelaksanaan uji terhadap keberadaan Rekanan yang dilakukan pada saat pertama kali Perseroan bermaksud menggunakan jasa Rekanan dan akan dikaji ulang secara berkala.

Pelaksanaan uji Rekanan mencakup:• memastikan kelengkapan dokumen

perusahaan usaha Rekanan telah sesuai dengan ketentuan yang berlaku.

• melakukan site visit ke lokasi usaha Rekanan.• melakukan cross check atas referensi yang

diberikan.• melakukan studi awal mengenai vendor yang

akan dipilih.

Activities Related to Criteria and Selection of Partners (Suppliers)

Partners involved in the procurement of goods or services are those who have been registered through the process of examination regarding the existence of Partners. This registration process is conducted when the Company, for the first time, intends to use the Partners’ services, and shall be reviewed regularly.

The implementation of Partners examination covers:• Assurance that the Partner’s corporate

documents have been complete and in accordance with the applicable external provisions.

• site visit to the Partner’s business location.• cross-check activity on the provided references.

• preliminary studies on vendors to be selected.


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PENYEDIAAN DANA UNTUK KEGIATAN SOSIAL DAN KEGIATAN POLITIKProvision of Funds for Social and Polit ical Activit ies

Dalam hal kegiatan sosial, Perseroan meyakini bahwa kontribusi dalam kegiatan sosial kemasyarakatan akan memberi dampak positif kepada Perseroan baik secara langsung maupun tidak langsung dalam jangka panjang. Karena itu, Perseroan menganjurkan karyawan untuk membantu dan mendukung kegiatan sosial yang diadakan oleh Perseroan sesuai dengan ketentuan yang berlaku.

Sebagai perwujudan dari tanggung jawab sosial, Perseroan mengalokasikan sebagian biaya operasionalnya untuk membangun masyarakat dan lingkungannya melalui pelaksanaan program dan kegiatan tanggung jawab sosial Perusahaan sebagaimana yang disampaikan dalam bagian khusus tentang “Tanggung Jawab Sosial Perusahaan” dan Laporan Tahunan ini.

Dalam hal politik, Perseroan memberikan kebebasan bagi seluruh karyawan dalam menyalurkan aspirasinya dalam kegiatan politik. Namun demikian, kebijakan Kode Etik Perseroan mengatur batasan-batasan tertentu terkait keterlibatan Perseroan dan karyawan dalam kegiatan politik guna menghindari timbulnya benturan kepentingan, termasuk di dalamnya namun tidak terbatas terhadap pemberian dana untuk kepentingan politik. Kebijakan ini diterapkan guna menjaga independensi dan profesionalisme Perseroan beserta seluruh karyawan.

In terms of social activities, the Company believes that contributions to social community activities will have a positive impact on the Company, both directly and indirectly, in the long term. Therefore, the Company encourages its employees to participate in and support the social activities held in accordance with the applicable regulations.

As a realization of social responsibility, the Company allocates a portion of its operational expenses to develop the surrounding community and environment through the implementation of corporate social responsibility programs and activities, which shall be described in the chapter of “Corporate Social Responsibility” in this Annual Report.

In terms of politics, the Company provides freedom for all employees to channel their aspirations in political activities. However, the Company’s Policy on Code of Conduct regulates certain restrictions regarding the involvement of the Company and its employees in political activities, in order to avoid conflicts of interest, including, but not limited to, provision of funds for political purposes. This policy is implemented to maintain the independence and professionalism of the Company and all employees.

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PERKARA PENTING

SANKSI ADMINISTRATIF

AKSES INFORMASI DAN DATA PERUSAHAAN

Legal Cases

Administrative Sanctions

Access to Information and Corporate Data

Pada tahun 2018, Perseroan, anggota Dewan Komisaris dan Direksi, beserta entitas anak tidak memiliki perkara hukum.

Sepanjang tahun 2018, tidak terdapat sanksi administratif yang dikenakan kepada Perseroan, anggota Dewan Komisaris dan Direksi, oleh otoritas Pasar Modal dan otoritas lainnya.

Perseroan menyediakan akses informasi dan data Perusahaan baik laporan terkait keuangan dan non keuangan kepada publik secara transparan melalui berbagai media seperti situs Perseroan (dalam dua bahasa), media massa, mailing list, buletin, pertemuan dengan analis, situs resmi BEI dan sebagainya. Perseroan juga memiliki Investor Relations yang senantiasa membangun citra baik Perseroan melalui pengembangan hubungan dengan investor/analis baik secara interaktif maupun penyampaian informasi secara berkala, terutama terkait kinerja Perseroan.

Akses Informasi dan Data Perusahaan difasilitasi melalui:

In 2018, the Company, as well as the members of Board of Commissioners, Board of Directors and the subsidiaries, were not imposed of any legal cases.

During 2018, there has been no administrative sanction imposed on the Company, Board of Commissioners, and Board of Directors by the Capital Market Authorities or other authorities.

The Company provides access to Company’s information and data, including the financial and non-financial related reports, to the public transparently. This provision of access is given through various media such as the Company’s website (bilingual), mass media, mailing lists, bulletins, analyst meetings, IDX official sites, and so on. The Company also has the Investor Relations Department that constantly builds the Company’s positive image through interactive relationships with investors/analysts and regular delivery of information, particularly in relation to Company’s performance.

Access to Company’s Information and Data is facilitated through:

ALAMAT KANTOR Office Address

Centennial Tower 30th floor Jl. Gatot Subroto Kav.24-25, Jakarta 12930, Indonesia

TELP.Phone (62-21) 2988 0466

FAX (62-21) 2988 0460

EMAIL [email protected]

SITUSWebsite www.theparadise-group.com


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KODE ETIKCode of Conduct

Perseroan senantiasa menjunjung tinggi integritas dengan memiliki dan menerapkan pedoman standar mengenai tata cara perilaku yaitu Kode Etik. Kode Etik Perseroan merupakan dasar sikap dan tindakan karyawan agar bekerja secara profesional dan beretika dengan menggunakan prinsip-prinsip dasar yang mengacu kepada visi, misi, dan nilai-nilai Perusahaan serta regulasi internal dan eksternal yang berlaku.

Pokok-Pokok Kode Etik

Pokok-pokok yang terkandung dari Kode Etik Perseroan merupakan panduan bagi jajaran Direksi, karyawan, dan wakil-wakil perusahaan dalam menjalankan aktivitas bisnis agar senantiasa sesuai dengan aturan yang berlaku. Secara rinci, informasi mengenai pokok-pokok Kode Etik sebagai berikut:• Kewajiban individu dalam Perseroan• Panduan hubungan Perseroan dengan

karyawan• Panduan anti korupsi dan penyuapan• Panduan mengenai benturan kepentingan • Etika bisnis hubungan Perseroan dengan

pesaing• Etika bisnis hubungan Perseroan dengan

Pemerintah• Etika bisnis hubungan Perseroan dengan

masyarakat• Etika bisnis hubungan Perseroan dengan mitra

bisnis• Etika bisnis hubungan Perseroan dengan

pemegang saham, kreditur, dan investor lain

Pemberlakuan Kode Etik bagi Seluruh Level Organisasi

Seluruh isi Kode Etik wajib ditaati dan berlaku bagi seluruh level organisasi meliputi anggota Dewan Komisaris, anggota Direksi, dan karyawan Perseroan.

The Company’s continuous commitment to the aspect of integrity is realized through the establishment and implementation of standard guidelines regarding behavioral procedures, namely the Code of Conduct. The Company’s Code of Conduct serves as the basis of employees’ attitudes and actions to work professionally and ethically on the base of principles that refer to the Company’s vision, mission, and values as well as the applicable internal and external regulations.

Principals of Code of Conduct

The principals of Company’s Code of Conduct are the guidelines for the Board of Directors, employees, and the Company’s representatives in conducting their business activities so as to always be in accordance with the applicable regulations. In details, information on Code of Conduct principals is as follows:• Individual’s obligation in the Company• Relationship between the Company and

employees• Guideline for anti-corruption and gratification• Guideline for conflict of interest• Business ethics on the relationship of the

Company with competitors• Business ethics on the relationship of the

Company with the government• Business ethics on the relationship of the

Company with the public• Business ethics on the relationship of the

Company with business partners• Business ethics on the relationship of the

Company with shareholders, creditors and other investors

Enforcement of Code of Conduct at All Organization Levels

The entire Content of Code of ethics must be adhered to and are applicable for all organization levels, covering the Board of Directors, Board of Commissioners, and employees of the Company.

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Pendahuluan

Jenis Sanksi Setiap Pelanggaran Kode Etik

Sanksi yang akan dikenakan oleh pelanggar akan melalui proses dan prosedur yang berlaku, seperti teguran, peringatan, dan skorsing dan apabila pelanggaran berakibat fatal maka dikenakan pemutusan hubungan kerja. Sepanjang tahun 2018, tidak terdapat pelanggaran yang dilakukan oleh karyawan terhadap Kode Etik Perseroan.

Types of Sanction for the Violation of Code of Conduct

Sanctions imposed on the violators are in line with the prevailing processes and procedures, such as reprimand, warning letter, temporary suspension, and, if the violation may cause fatal loss, employment termination. Throughout 2018, there have been no violations of Company’s Code of Conduct performed by employees.

Maison Aurelia Sanur Bali

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SISTEM PELAPORAN PELANGGARAN (WHISTLEBLOWING SYSTEM/WBS)Whistleblowing System

Dalam rangka mewujudkan upaya pengendalian internal, Perseroan melaksanakan kebijakan mengenai sistem pelaporan pelanggaran (whistleblowing system) secara menyeluruh dalam setiap aspek kegiatan bisnis. Perseroan memiliki dan menerapkan kebijakan serta sistem pelaporan pelanggaran yang secara berkala dilakukan evaluasi mengenai mekanisme pelaporan hingga sosialisasi media pelaporan. Sistem pelaporan pelanggaran Perseroan bertujuan untuk mendeteksi, mencegah, dan menanggulangi setiap pelanggaran yang terjadi sehingga membawa perusahaan ke arah budaya kejujuran dan keterbukaan yang mendorong peningkatan mutu pelaksanaan GCG di Perseroan. Sistem pelaporan pelanggaran ini melibatkan seluruh karyawan, pejabat perusahaan dan masyarakat dimana pelapor mendapatkan jaminan perlindungan atas setiap pelaporan yang disampaikan sehingga memberikan rasa aman bagi seluruh pihak yang berinteraksi dengan Perseroan.

In order to realize internal control efforts, the Company implements a policy regarding whistleblowing system in every aspect of business activities thoroughly. The Company has established and implemented whistleblowing system and policy, which are evaluated regularly in terms of reporting mechanism as well as reporting dissemination media. The Company’s whistleblowing system aims to detect, prevent, and handle each violation that occurs, so as to bring the company towards a culture of honesty and openness that encourages the quality improvement of GCG implementation in the Company. The whistleblowing system involves all employees, Company’s officials and the public, the whistleblower shall obtain guaranteed protection for each report submitted so as to provide a sense of security for all parties interacting with the Company

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Prosedur dan Tata Cara Penyampaian Laporan

Setiap indikasi adanya pelanggaran, disampaikan melalui media email, surat tertulis atau Whatsapp kepada Komite Pengelola Pelaporan Pelanggaran (KP3). Laporan harus memberikan indikasi awal mengenai pelanggaran yang terjadi. Indikasi-indikasi tersebut termasuk diantaranya masalah yang dilaporkan, pihak yang terlibat, waktu kejadian, dan bagaimana terjadinya kejadian tersebut. Pelapor juga harus mengindikasikan tentang bagaimana pelapor dapat dihubungi untuk permintaan keterangan lebih lanjut. Selanjutnya Tim Investigasi dari KP3 melakukan penyelidikan dan memberikan laporan ke KP3 dan selanjutnya KP3 akan memberikan rekomendasi tindak lanjut kepada Presiden Direktur mengenai sanksi yang diberikan sesuai dengan ketentuan yang berlaku.

Perlindungan bagi Pelapor

Perseroan berkomitmen untuk memberikan perlindungan terhadap pelapor atas laporan-laporan yang masuk. Perlindungan tersebut meliputi:• Jaminan kerahasiaan identitas pelapor dan isi

laporan yang disampaikan• Jaminan perlindungan terhadap perlakuan

yang merugikan pelapor• Jaminan perlindungan dari kemungkinan

adanya tindakan balas dendam, pemecatan atau perilaku diskriminatif lainnya.

Pihak yang Mengelola

Seluruh laporan yang masuk akan dianalisa oleh Komite Pengelola Pelaporan Pelanggaran (KP3) yang ditunjuk Direksi.

Penanganan Pengaduan

Laporan yang akan ditindaklanjuti oleh tim KP3 yang ditunjuk oleh Direksi adalah laporan-laporan yang masuk pada kriteria yang dinyatakan dalam lingkup kebijakan. Laporan-laporan tersebut ditindaklanjuti dan dilaporkan perkembangannya

Procedures to Submit Report

Each indication of violation is submitted through emails, written letters, or Whatsapp to the Committee of Whistleblowing Management (KP3). The report shall provide early indication on the violation, such as the reported issue, parties involved, time and the event of the violation. The whistleblower needs to also indicate on how they shall be contacted so that the Company may gain further information regarding the violation. Then, the Investigation Team of KP3 shall investigate the reported issue and submit their account to the KP3 to be given recommendations for follow-up action to the President Director, regarding the sanctions to be given in accordance with the applicable regulations.

Protection for Whistleblower

The Company is committed to providing protection for whistleblower for their reports. The protection covers:

• Confidentiality guarantee of the identity of whistleblower and contents of the report

• Protection guarantee against any conduct that may cause harm or loss to the whistleblower

• Protection guarantee against the possibility of revenge, termination of work contract or other discriminatory actions.

Party Managing the Report

All incoming reports shall be analyzed by the Committee of Whistleblowing Management (KP3). The Committee is appointed by the Board of Directors.

Management of Whistleblowing

Reports to be followed-up by the KP3 team appointed by the Board of Directors are those that meet the criteria stated in the scope of policy. The development of follow-up action on these reports shall be reported periodically to the whistleblower


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secara periodik kepada pelapor dan Presiden Direktur dan/atau Dewan Komisaris Perseroan. Tindak lanjut akan dihentikan jika diketahui bahwa laporan yang disampaikan merupakan laporan palsu dan/atau tidak didukung bukti-bukti yang kuat.

Hasil Penanganan Pengaduan

Selama tahun 2018, tidak terdapat laporan pengaduan atas pelanggaran yang terjadi di lingkungan bisnis Perseroan.

Praktik Bad Corporate Governance

Dalam kaitannnya dengan Praktik Bad Corporate Governance, Perseroan memastikan bahwa setiap kegiatan operasional bisnis dilakukan dengan standar dan prosedur operasional yang berlaku. Sepanjang tahun 2018, Perseroan tidak melakukan berbagai hal yang berkaitan dengan Bad Corporate Governance, sebagai berikut:

and President Director and/or Board of Commissioners of the Company. Follow-up action shall end if the report is known to be fake and/or does not have supporting and strong evidence.

Result of Whistleblowing Management

During 2018, there has been no report on violations that took place in the Company’s business environment.

Bad Corporate Governance Practice

In relation to the practice of Bad Corporate Governance, the Company ensures that each of its business operations is carried out in line with the applicable operational standards and procedures. Throughout 2018, the Company has not carried out actions related to Bad Corporate Governance, such as:


PRAKTIKPractice

Adanya laporan sebagai perusahaan yang mencemari lingkunganthe existence of report stating that the company pollutes the environment

NihilNil

Perkara penting yang sedang dihadapi oleh perusahaan, entitas anak, anggota Direksi dan/atau anggota Dewan Komisaris yang sedang menjabat tidak diungkapkan dalam Laporan TahunanLegal cases faced by the Company, subsidiaries, and current members of Board of Directors and/or Board of Commissioners are not disclosed in the Annual Report

NihilNil

Ketidakpatuhan dalam pemenuhan kewajiban perpajakan / Incompliance with the fulfillment of tax obligation Nihil / Nil

Ketidaksesuaian penyajian laporan tahunan dan laporan keuangan dengan peraturan yang berlaku dan SAKInconformity to the applicable regulations and Standards of Financial Accounting in the presentation of annual report and financial statements

Nihil / Nil

Kasus terkait buruh dan karyawanCases related to laborers and employees

Nihil / Nil

Tidak terdapat pengungkapan segmen operasi pada perusahaan listedNo disclosure of operating segment in the listed company

Nihil / Nil

Terdapat ketidaksesuaian antara Laporan Tahunan hardcopy dengan Laporan Tahunan softcopyInconformity of contents between the hard-copy and soft-copy of annual report

Nihil / Nil

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PERNYATAAN PELAKSANAAN PRINSIP-PRINSIP TATA KELOLAStatement of Implementation of Governance Principles

Seluruh manajemen dan karyawan Perseroan menyatakan bahwa dalam menjalankan kegiatan usahanya telah menerapkan prinsip-prinsip Tata Kelola Perusahaan yang Baik dan tidak terdapat pelanggaran yang material terhadap perundang-undangan yang berlaku. Selain itu, Perseroan juga senantiasa melaksanakan prinsip Tata Kelola sesuai dengan peraturan atau ketentuan tata kelola perusahaan di bidang pasar modal dan international best practices serta mendukung pencapaian tujuan Pengembangan Berkelanjutan. Di sisi lain, dengan diterbitkannya Peraturan Otoritas Jasa Keuangan No. 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik, Perseroan berkomitmen untuk secara bertahap mengimplementasikannya.

Manajemen berserta seluruh karyawan berkomitmen untuk senantiasa meningkatkan praktik-praktik Tata Kelola Perusahaan yang Baik secara transparan, akuntabel, bertanggungjawab, independen, memperhatikan kesetaraan dan kewajaran yang adil serta berkesinambungan guna mencapai tujuan usaha Perseroan.

The entire management and employees of the Company declare that, in carrying out their business activities, they have implemented the principles of Good Corporate Governance and that there are no material violations of the prevailing laws and regulations. The Company also carries out the principles of Corporate Governance sustainably in accordance with the regulations or provisions on corporate governance in capital markets, and with the international best practices as well as supporting the achievement of Sustainable Development goals. In addition, the Company is committed to gradually implementing the newly issued Regulation of Financial Services Authority No. 51/POJK.03/2017 regarding Implementation of Sustainable Finance for Financial Service Institution, Issuer, and Public Company.

The Company’s management and all employees have a strong commitment to always improving Good Corporate Governance practices in a transparent, accountable, responsible, and independent manner, by taking into account the fairness and equality, as well as sustainable principles in order to achieve the Company’s business goals.


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A B C D E F G H

TANGGUNG JAWAB SOSIAL PERUSAHAAN

CORPORATE SOCIALRESPONSIBILITY

H

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TANGGUNG JAWAB SOSIAL PERUSAHAANCorporate Social Responsibil i ty

Komitmen Pelaksanaan CSR

Bagi Perseroan, tanggung jawab sosial perusahaan atau Corporate Social Responsibility (CSR) merupakan komitmen Perseroan untuk mengembangkan ekonomi yang berkelanjutan dengan senantiasa memperhatikan keseimbangan aspek ekonomi, sosial dan lingkungan. Perseroan menyadari bahwa keberhasilan dunia usaha tidak hanya ditentukan oleh kinerja manajemen dan operasional yang baik, melainkan juga didukung oleh masyarakat/komunitas dan lingkungan dimana Perseroan menjalankan kegiatan usaha. Karena itu, Perseroan tidak hanya fokus dan berorientasi pada keunggulan kinerja keuangan, namun mampu membangun budaya Perusahaan berbasis etika bisnis serta berupaya membangun tanggung jawab sosial dan lingkungan dengan Triple Bottom Line yang terdiri dari people, planet, and profit.

Selain itu, Perseroan melaksanakan kegiatan CSR juga ditujukan dalam rangka pemenuhan terhadap Peraturan Otoritas Jasa Keuangan No.51/POJK.03/2017 tanggal 18 Juli 2017 tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten dan Perusahaan Publik guna menggerakkan perekonomian nasional yang mengedepankan keselarasan antara aspek ekonomi, sosial, dan lingkungan hidup.

Perseroan memiliki komitmen untuk menerapkan prinsip berkelanjutan yang mampu menciptakan nilai ekonomi, sosial, dan ekologis di dalam proses dan pada tingkatan pengambilan kebijakan maupun pengambilan keputusan yang dapat mendorong kesuksesan Perseroan dengan tetap berkontribusi pada pencapaian tujuan pembangunan berkelanjutan. Tujuan pembangunan berkelanjutan antara lain untuk menjamin keutuhan lingkungan hidup serta keselamatan, kemampuan, kesejahteraan, dan mutu hidup generasi masa kini dan generasi masa depan.

Commitment to CSR Implementation

For the Company, Corporate Social Responsibility (CSR) is a commitment to developing sustainable economy by always taking into account the balance among the economic, social, and environmental aspects. The Company realizes that success in business world is not only determined by good management and operational performance, but also supported by the community and the environment in which it conducts business activities. Therefore, the Company shall not only focus on and be oriented towards financial performance excellence, but also be able to build a Corporate Culture that is based on proper business ethics and strive to build social and environmental responsibility through the implementation of the Triple Bottom Line, namely People, Planet, and Profit.

In addition, CSR activity implementation at the Company aims at fulfilling the Regulation of Financial Services Authority No. 51/POJK.03/2017 dated 18 July 2017 regarding Implementation of Sustainable Finance for Financial Service Institutions, Issuers, and Public Companies, in order to drive a national economy that prioritizes harmony among the economic, social, and environmental aspects.

The Company is committed to implementing sustainable principles that are able to create economic, social, and ecological values in the process and at the level of policy-making and decision-making, so as to encourage the Company’s success while continuously contributing to the achievement of sustainable development goals. The sustainable development goals include ensuring the wholeness and integrity of the environment as well as the safety, capability, welfare, and quality of life of present and future generations.

Tanggung Jawab Sosial Perusahaan • Corporate Social Responsibil ityCorporate Social Responsibil ity

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Dasar Hukum Kebijakan

Seluruh pelaksanaan kegiatan CSR Perseroan berlandaskan kebijakan umum dan peraturan yang berlaku di Indonesia, antara lain:• Undang-Undang No. 40 Tahun 2007 tentang

Perseroan Terbatas (UUPT).• Peraturan Presiden Republik Indonesia Nomor

59 Tahun 2017 Tentang Pelaksanaan Pencapaian Tujuan Pembangunan Berkelanjutan.

• Peraturan Otoritas Jasa Keuangan Nomor 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik.

• Peraturan Otoritas Jasa Keuangan Nomor 35/POJK.04/2014 Tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik.

Visi Sosial Perseroan

Selalu berupaya untuk menciptakan dan mengembangkan kegiatan sosial berkelanjutan bagi stakeholders Perusahaan.

Struktur Pengelola CSR

Legal Basis of Policy

The implementation of Company’s CSR activity is based on the applicable general policies and regulations in Indonesia, among others:• Law No. 40 of 2007 regarding Limited Liability

Company (UUPT).• Regulation of the President of Republic of Indonesia

No. 59 of 2017 regarding Implementation and Achievement of Sustainable Development Goals.

• Regulation of Financial Services Authority No. 51/POJK.03/2017 regarding Implementation of Sustainable Finance for Financial Service Institutions, Issuers, and Public Companies.

• Regulation of Financial Services Authority No. 35/POJK.04/2014 regarding Corporate Secretary of Issuers or Public Companies.

Social Vision of the Company

Always striving to create and develop sustainable CSR activities for the stakeholders of the Company.

CSR Management Structure


Siti Utami

Sri Satiti Puspasari

PRESIDENT DIRECTOR

CHIEF OFFICE SUPPORT

PUBLIC RELATIONS ASSISTANT

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Metode dan Due Diligence CSR

Penyelenggaraan CSR oleh Perseroan memiliki tujuan yang jelas, yakni memberi dampak positif dan memajukan kondisi sosial komunitas dan masyarakat yang terhubung dengan Perseroan dengan pelaksanaan program tepat guna dan berdampak jangka panjang secara bertahap, kemudian mengembangkan program-program tersebut secara berkesinambungan. Perseroan menghindari pelaksanaan CSR yang sekedar bertujuan untuk meningkatkan citra perusahaan dimata masyarakat dan lingkungan bisnis. Perseroan melaksanan metode dan due diligence CSR dengan pemahaman tujuan program yang akan dilaksanakan serta dampak positif aspek sosial, ekonomi dan lingkungan dari aktivitas Perseroan yang diharapkan akan mencapai tujuan pelaksanaan CSR yang ideal, objektif dan tepat sasaran.

Tata Kelola CSR Lainnya

Perseroan telah memetakan pemangku kepentingan yang terdampak dan berpengaruh pada kegiatan operasional Perseroan. Pemetaan dilakukan berdasarkan aspek ekonomi, sosial, lingkungan, dan tata kelola, serta dilakukan identifikasi topik yang signifikan. Stakeholder penting yang terdampak atau berpengaruh pada dampak dari kegiatan Perseroan diantaranya para pemegang saham, karyawan, pelanggan, mitra kerja, serta komunitas dan masyarakat sekitar wilayah operasional Perseroan.

Isu-isu penting sosial, ekonomi dan lingkungan terkait dampak kegiatan usaha Perseroan diantaranya mencakup pengembangan kesejahteraan masyarakat. Disamping itu, Perseroan juga memberikan perhatian lebih pada pengetahuan masyarakat dalam hal ini Usaha Kecil dan Menengah terkait dampak bencana. Oleh karena itu, strategi dan program kerja yang dilaksanakan Perseroan berfokus pada penyelenggaraan program Business Continuity Plan for SMEs yang akan dijelaskan pada pembahasan selanjutnya.

Methods and Due Diligence of CSR

The Company’s CSR implementation has a clear goal, namely to give a positive impact and to advance the social conditions of the community that are connected with the Company, through the implementation of appropriate and long-term programs in stages, and development of these programs on an ongoing basis. The Company avoids CSR implementation which merely aims to improve its image in the eyes of the community and the business environment. The Company implements CSR methods and due diligence by understanding the objectives of the program to be implemented, as well as the positive impact of the social, economic, and environmental aspects of the Company’s activities, which are expected to achieve the ideal, objective, and accurate CSR goals.

Other CSR Governance

The Company has mapped the stakeholders affected by its operational activities. The mapping activity is based on economic, social, environmental, and governance aspects, as well as identification of significant topics. Key stakeholders affected by the impact of Company’s activities include the shareholders, employees, customers, work partners, and communities living around the Company’s operational area.

Significant social, economic, and environmental issues related to the impact of Company’s business activities include the development of community welfare. The Company also gives more attention to public knowledge, in this case the Small and Medium Enterprises, related to the impact of disaster. Therefore, the strategies and work programs implemented by the Company focus on the implementation of Business continuity Plan for SMEs which will be explained below.


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Sepanjang tahun 2018, Perseroan beserta anak perusahaan telah melaksanakan program dan kegiatan CSR yang tidak hanya sekedar menggugurkan kewajiban, namun lebih dari itu, berkontribusi lebih pada kebutuhan masyarakat di wilayah operasional Perseroan.

Pembiayaan dan Anggaran CSR 2018

Total biaya pelaksanaan kegiatan CSR Perseroan pada tahun 2018 mencapai Rp562,32 juta untuk pelaksanaan kegiatan Business Continuity Plan for SMEs. Biaya tersebut dialokasikan dari kas Perseroan.

Throughout the year, the Company and its subsidiaries have implemented CSR programs and activities that not only fulfill their obligations, but more than that, to contribute further to the needs of the community living nearby the Company’s operational area.

CSR Funding and Budget in 2018

Total cost of CSR activity carried out by the Company in 2018 reached Rp562.32 million, mainly for the implementation of Business continuity Plan for SMEs. This cost was allocated from the Company’s cash.

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TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG HAK ASASI MANUSIACorporate Social Responsibil i ty in Human Rights Aspect

Komitmen dan Kebijakan Tanggung Jawab Sosial Hak Asasi Manusia

Dalam pedoman ISO 26000 Guidance for Social Responsibility, Hak asasi manusia (HAM) merupakan salah satu subjek inti. Pedoman ini menjadi salah satu panduan dalam melaksanakan CSR yang komprehensif, baik untuk kegiatan internal maupun eksternal. Perseroan berkomitmen untuk menjunjung tinggi HAM sebagaimana tertuang dalam Kode Etik yang wajib dipatuhi oleh seluruh insan Perseroan.

Rencana dan Pelaksanaan Inisiatif Hak Asasi Manusia

Perseroan merencanakan inisiatif-inisiatif terkait HAM terutama yang berkaitan dengan ketenagakerjaan secara komprehensif. Merujuk pada Kode Etik, Perseroan memastikan terlaksananya perlakuan yang setara dalam bidang ketenagakerjaan, seperti dalam proses rekrutmen yang tidak memandang latar belakang gender, usia, suku, agama, ras maupun hal diskriminatif lainnya.

Capaian CSR Bidang Hak Asasi Manusia

Hingga akhir tahun 2018, capaian kinerja CSR bidang HAM adalah pelaksanaan pendidikan dan pelatihan bagi seluruh karyawan tanpa diskriminatif serta memastikan setiap karyawan mendapatkan hak yang sama dengan karyawan lainnya.

Dalam penghargaan CSR bidang HAM, Perseroan belum menerima penghargaan dalam bidang tersebut hingga tahun 2018. Meski demikian, Perseroan berkomitmen penuh untuk menjunjung

Commitment and Policy of Social Responsibil ity in Human Rights Aspect

In the ISO 26000 Guidance for Social Responsibility, Human Rights is one of the core subjects. This guidance is one of the references in implementing comprehensive CSR activities, both internally and externally. The Company is committed to upholding Human Rights as stated in the Code of Conduct which must be obeyed by all employees of the Company.

Plan and Implementation of Human Rights Initiatives

The Company plans various initiatives related to Human Rights in a comprehensive manner, especially those relating to employment. Referring to the Code of Conduct the Company ensures the implementation of equal treatment in the field of employment, such as in the recruitment process, which is implemented without prejudice to the gender, age, ethnicity, religion, race, or other discriminatory issues.

CSR Achievement in Human Rights Aspect

Up to the end of 2018, the achievement of CSR performance in Human Rights aspect is in the form of education and training activities implemented for all employees without being discriminatory, and assurance that every employee receives the same rights as one another.

The Company has not received any awards regarding CSR activities in Human Rights aspect until 2018. Nevertheless, the Company is fully committed to upholding Human Rights in every business


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TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG OPERASI YANG ADILCorporate Social Responsibil i ty in Fair Operations

Komitmen dan Kebijakan Tanggung Jawab Sosial Terkait Operasi yang Adil

Subjek inti lain dalam ISO 26000 adalah pelaksanaan operasi yang adil. Perseroan berkomitmen untuk melaksanakan Praktik Operasi yang Adil (Fair Operating Practices) dalam kegiatan usaha sehari-hari. Dalam mewujudkan pelaksanaan kegiatan usaha yang adil, Perseroan telah memiliki berbagai kebijakan yang bertujuan untuk memastikan terealisasinya operasi yang adil, seperti kebijakan perlindungan pelanggan dan penyediaan informasi/data/dokumen kepada pihak luar, serta penerapan Kebijakan Pelaporan Pelanggaran (whistleblowing policy).

Rencana dan Pelaksanaan Inisiatif Operasi yang Adil

Perseroan telah merencanakan dan melaksanakan kebijakan terkait operasional kegiatan usaha yang adil. Hal tersebut terlihat antara lain melalui pemenuhan hak-hak pelanggan, hak untuk memperoleh informasi terkait produk/jasa yang ditawarkan Perseroan, serta hak untuk mendapat layanan lainnya.

Capaian Inisiatif Operasi yang Adil

Salah satu capaian Perseroan atas pelaksanaan kegiatan operasi yang adil pada tahun 2018 antara

Commitment and Policy of Social Responsibil ity in Relation to Fair Operations

Another core subject in ISO 26000 is the implementation of fair operations. The Company is committed to implementing Fair Operating Practices in daily business activities. In realizing fair business activities, the Company has established various policies which aim to ensure the realization of fair operations, such as customer protection policies, provision of information/data/documents to outside parties, and implementation of Whistleblowing Policy.

Plan and Implementation of Fair Operations Initiatives

The Company has planned and implemented policies related to the fair business and operational activities. This is reflected, among others, in the fulfillment of customer rights, the right to obtain information regarding products/services offered by the Company, as well as the right to obtain other services.

Achievement of Fair Operations Initiatives

One of the Company’s achievements in the implementation of fair operations in 2018 includes

tinggi HAM dalam setiap operasional bisnis mulai dari pelaksanaan kesetaraan dan kesempatan kerja, hingga memperhatikan aspek kesejahteraan masyarakat.

operation, starting from the implementation of equality and employment opportunity, to paying attention to the community welfare aspect.

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lain tidak adanya pengaduan yang diterima, baik dari karyawan maupun pelanggan yang signifikan terkait praktik ketidakadilan yang berdampak material.

the absence of complaints received, both from employees and customers, that are significantly related to the practice of injustice that have material impacts.

TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG LINGKUNGAN HIDUPCorporate Social Responsibil i ty to the Environment

Kebijakan

Perseroan telah memiliki kebijakan terkait dengan aspek lingkungan hidup, baik dalam pengembangan produk yang dimiliki Perseroan maupun kebijakan

Policy

The Company has established policies related to the environmental aspect, both in the development of products of the Company and in relation to


Pasar Sindu Sanur

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yang terkait dengan pelestarian lingkungan hidup lainnya. Kebijakan tersebut diwujudkan dalam bentuk pengumuman serta peraturan yang dibutuhkan dalam rangka meminimalisir dampak operasional Perseroan terhadap lingkungan hidup. Di sisi lain, Perseroan juga senantiasa melakukan upaya pelaksanaan efisiensi atas operasional kegiatan usaha kepada seluruh Unit Bisnis.

Rencana dan Target

Pada tahun 2018, Perseroan telah menetapkan target kegiatan dalam bidang lingkungan diantaranya melakukan beberapa efisiensi terkait penggunaan energi dan berkontribusi dalam pelestarian lingkungan. Oleh karena itu, Perseroan akan lebih meningkatkan kontribusinya terkait tanggung jawab sosial terhadap lingkungan di masa mendatang.

Kegiatan dan Dampaknya

Kegiatan Perseroan dalam bidang lingkungan hidup merupakan wujud dukungan Perseroan terhadap pemeliharaan kelestarian lingkungan tercermin dalam setiap kegiatan Perseroan baik itu operasional di kantor pusat maupun kegiatan bisnisnya, antara lain menjalankan inisiatif kegiatan paperless, dengan mengintesifkan pemanfaatan media elektronik seperti email. Disamping itu, Perseroan juga memberikan perhatian lebih pada penghematan energi dengan mengurangi pemakaian listrik yang tidak dibutuhkan.

Sertifikasi Bidang Lingkungan Hidup

Hingga akhir tahun 2018, Perseroan belum memiliki sertifikasi terkait bidang lingkungan hidup.

other environmental preservation efforts. The policy is realized in the form of announcements and regulations needed to minimize the impact of Company’s operations on the environment. On the other hand, the Company also continues to make efforts to implement efficiency in business operations for all Business Units.

Plans and Targets

In 2018, the Company set targets for activities in the environmental field, including carrying out a number of efficiency efforts related to energy use, and contributing to environmental preservation efforts. The Company is committed to further improving its contribution regarding social responsibility to the environment in the future.

Activities and Impacts

The Company’s activities in the environmental field are the manifestation of its support for environmental preservation, and are reflected in every activity carried out, both operational activities at the head office and its business activities. Such activities are, among others, the implementation of paperless initiatives by intensifying the use of electronic media, such as e-mail. In addition, the Company pays greater attention to energy saving efforts by reducing electricity consumption.

Certification in the Environmental Aspect

Up to the end of 2018, the Company has not yet had any certification related to the environmental aspect.

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TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG KETENAGAKERJAAN, KESEHATAN DAN KESELAMATAN KERJACorporate Social Responsibil i ty in the Employment and Occupational Health and Safety

Kebijakan

Bagi Perseroan, Sumber Daya Manusia (SDM) merupakan aset penting dan menjadi prioritas utama yang harus dipenuhi khususnya terkait pengembangan kompetensi dan fasilitas yang diberikan. Perseroan memiliki kebijakan untuk memberikan perlakuan yang sama bagi seluruh karyawan baik dalam kesempatan kerja, remunerasi, dan pelatihan dan pengembangan.

Rencana dan Target

Pada tahun 2018, target pelaksanaan kegiatan Perseroan pada CSR bidang ketenagakerjaan, kesehatan dan keselamatan kerja adalah sebagai berikut:• Menjamin kesejahteraan pegawai sesuai

dengan peraturan yang berlaku• Menjamin kesetaraan gender dalam

kesempatan kerja, maupun kesetaraan dalam kesempatan memperoleh pelatihan bagi seluruh pegawai;

• Menyempurnakan fasilitas kesehatan bagi karyawan serta mewujudkan tempat kerja yang layak dan aman bagi seluruh karyawan.

Policy

For the Company, Human Resources (HR) is a key asset and a top priority that must be fulfilled, particularly in relation to the development of competencies and provision of facilities. The Company has a policy to provide equal treatment for all employees in terms of employment opportunities, remuneration, and training and development activities.

Plans and Targets

The targets of CSR activities implementation in the employment and occupational health and safety aspect in 2018 are as follows:

• To ensure employee welfare in accordance with applicable regulations

• To ensure gender equality in employment opportunities, as well as equality in the opportunity to receive training for all employees;

• To improve health facilities and realize a decent and safe workplace for all employees.


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Kegiatan Ketenagakerjaan

A. Perekrutan KaryawanDalam melakukan perekrutan karyawan, Perseroan senantiasa memberikan hak dan kesempatan yang sama kepada semua kandidat tanpa memandang perbedaan agama, etnis, ras, status sosial, warna kulit, gender, ataupun kondisi fisik lainnya. Perseroan dengan tegas juga tidak melakukan diskriminasi atas alasan apapun karena mendasarkan keputusannya pada hasil seleksi, hasil evaluasi pada masa percobaan dan orientasi pekerja.

B. Kesetaraan dalam Program Pendidikan dan Pelatihan Dalam rangka meningkatkan kompetensi karyawan, Perseroan secara berkesinambungan menyelenggarakan program pendidikan dan pelatihan untuk menunjang kegiatan operasional. Perseroan menjamin bahwa setiap karyawan memiliki kesempatan yang sama untuk mengikuti setiap program pendidikan dan pelatihan yang dibuka sesuai dengan kebutuhan dan rencana pengembangan Perseroan. Penjelasan lebih lanjut mengenai Program Pelatihan dan Pendidikan yang telah dilaksanakan sepanjang 2018 dapat dilihat pada pembahasan Sumber Daya Manusia pada Laporan Tahunan ini.

C. Kesejahteraan KaryawanPerseroan senantiasa memerhatikan kesejahteraan seluruh karyawan agar dapat saling bersinergi demi terciptanya produktivitas kerja yang optimal. Program peningkatan kesejahteraan karyawan diberikan baik secara material maupun non-material. Program yang bersifat material merupakan program kesejahteraan yang berkaitan langsung dengan


Employment Activities

A. Employee RecruitmentIn recruiting employees, the Company always provides equal rights and opportunities to all candidates regardless of differences in religion, ethnicity, race, social status, color, gender, or other physical conditions. The Company does not discriminate, for any reason, as it bases its decision on the results of selection as well as the results of evaluations on probation period and employee orientation period.

B. Equality in the Education and Training ProgramIn order to improve employee competency, the Company continuously organizes education and training programs to support operational activities. The Company guarantees that every employee has the same opportunity to participate in each education and training program organized in accordance with the Company’s needs and development plans. Further explanation about the Training and Education Programs implemented throughout 2018 can be seen in the discussion of Human Resources in this Annual Report.

C. Employee WelfareThe Company always takes into account the welfare of all employees in order to ensure their synergy in work for the creation of optimum work productivity. Programs to enhance employee welfare are provided both materially and non-materially. Material programs are welfare programs directly related to employee’s performance and achievement,

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prestasi pegawai dan kompensasinya dapat diberikan dalam bentuk uang transportasi, uang makan, uang pensiun, tunjangan hari raya, uang jabatan, bonus, uang pengobatan, dan lain sebagainya. Sedangkan program yang bersifat non-material merupakan program kesejahteraan karyawan melalui pemberian fasilitas dan pelayanan kepada seluruh karyawan tanpa diskriminasi.

D. Kegiatan KeagamaanPerseroan mengadakan kegiatan-kegiatan keagamaan sebagai wadah kebersamaan karyawan di lingkungan kerja. Kegiatan ini dilakukan di lingkungan kerja guna menjaga hubungan antara kebutuhan fisik dan kebutuhan rohani ditengah kondisi kerja yang penuh tekanan dan kelelahan, sehingga kegiatan ini dapat berdampak pada relaksasi karyawan dalam bekerja.

E. Hubungan Industrial dan Mekanisme Pengaduan Masalah KetenagakerjaanBerdasarkan Undang-Undang No. 13 tahun 2013 tentang Ketenagakerjaan, Perseroan bekerja sama dengan serikat pekerja untuk memastikan Keselamatan dan Kesehatan Kerja sebagaimana yang diatur dalam Peraturan Perusahaan. Selain itu, sebagai bentuk kepatuhan Perseroan terhadap ketentuan yang berlaku, salah satunya adalah Undang-Undang Ketenagakerjaan No.13 tahun 2003, Perseroan telah menyusun mekanisme pengaduan masalah ketenagakerjaan. Mekanisme ini diterapkan melalui beberapa bentuk seperti penyusunan Perjanjian Kerja, pembentukan serikat pekerja, serta tersedianya wadah bagi karyawan untuk mencurahkan keluh kesah terkait masalah pekerjaan.

Dampak KegiatanDampak dari pelaksanaan kegiatan tanggung jawab sosial terkait dengan ketenagakerjaan adalah rendahnya tingkat turnover karyawan dan tingginya tingkat engagement pegawai.

and the compensation can be given in the form of allowances for transportation, food, pension, and religious holiday, as well as office fees, bonuses, medical expenses, and so forth. Meanwhile, non-material programs are employee welfare programs through the provision of facilities and services to all employees without any discrimination.

D. Religious ActivitiesThe Company holds religious activities as a forum to promote employee togetherness in the work environment. This activity is carried out within the Company in order to maintain the relationship between physical needs and spiritual needs amid stressful and exhaustive work conditions, so as to have an impact on the relaxation of employees at work.

E. Industrial Relations and Mechanisms to Submit Complaints on Employment IssuesPursuant to the Law No. 13 of 2013 regarding Employment, the Company cooperates with the labor union to ensure Occupational Health and Safety aspect as regulated in the Company’s Regulations. In addition, as a form of compliance with the applicable provisions – one of which is the Manpower Law No. 13 of 2003, the Company has prepared a mechanism for complaints on employment issues. This mechanism is implemented in several forms such as Labor Agreement drafting, establishment of labor union, and availability of a place for employees to submit their complaints regarding work issues.

Impact of ActivitiesThe impact of social responsibility activity implementation related to employment is the low level of employee turnover and the high level of employee engagement.


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Kegiatan Kesehatan dan Keselamatan Kerja (K3)Penerapan program K3 dimaksudkan untuk mewujudkan lingkungan kerja yang aman, nyaman, dan sehat bagi segenap karyawan. Kesehatan karyawan yang terjaga menjadi salah satu sebab terjaganya kinerja Perseroan. Potensi kecelakaan kerja dapat terjadi selama bekerja, baik dari segi teknis maupun non-teknis. Di samping itu, Perseroan juga mengikutsertakan karyawannya dalam program Badan Penyelenggara Jaminan Sosial (BPJS) Kesehatan dan asuransi kesehatan tambahan melalui Asuransi Kesehatan Komersial (Non-BPJS) sebagai bentuk jaminan kesehatan dan keselamatan kerja bagi karyawan Perseroan. Perseroan juga memberikan bantuan memberikan bantuan kesehatan lainnya sebagai fasilitas yang menunjang pekerjaan karyawan.

Occupational Health and Safety (OHS) ActivitiesThe implementation of OHS program is intended to create a safe, comfortable, and healthy work environment for all employees. The maintained employee’s health is one of the reasons for a stable performance of the Company. Work accidents can potentially occur during work, both in technical and non-technical fields. Hence, the Company includes its employees in the Health Security Provider Program (BPJS Kesehatan) as well as additional health insurance through Commercial Health Insurance (Non-BPJS), as a form of health and safety assurance for Company’s employees. The Company also provides other health care facilities to support their work performance.

Training Karyawan15 October 2018

ortAnnual R

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TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG PENGEMBANGAN SOSIAL KEMASYARAKATANCorporate Social Responsibil i ty in Social and Community Development

Kebijakan

Dalam melaksanakan kegiatan CSR bidang pengembangan sosial dan kemasyarakatan, Perseroan mengacu pada Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas (UUPT) yang mengatur peran serta Perseroan dalam pembangunan ekonomi berkelanjutan. Pelaksanaan CSR Perseroan juga bertujuan untuk meningkatkan kualitas kehidupan dan lingkungan yang bermanfaat, baik bagi perseroan sendiri, komunitas setempat, maupun masyarakat pada umumnya.

Rencana dan Target

Perseroan telah menetapkan rencana dan target pelaksanaan CSR Perseroan dalam bidang pengembangan sosial dan kemasyarakatan diantaranya dengan melaksanakan Business Continuity Plan for SMEs.

Kegiatan yang Dilakukan

Business Continuity Plan for SMEsBerangkat dari kesadaran atas banyaknya peristiwa bencana alam di sejumlah lokasi di Indonesia, menjadi keprihatinan tersendiri bagi Perseroan. Berbagai peristiwa tersebut telah banyak merenggut korban jiwa, harta benda, serta perekonomian sekitar bencana yang juga ikut lumpuh, termasuk beberapa peristiwa bencana yang terjadi di Bali.

Bali merupakan satu dari sekian daerah di Indonesia yang memiliki potential hazard terhadap terjadinya tsunami, gempa bumi, gunung api, banjir, serta kebakaran. Di sisi lain, tidak sedikit juga masyarakat yang menggantungkan hidupnya dari berdagang dan sejenisnya di Bali yang memiliki begitu banyak pelaku UMKM. Kesadaran terkait hal ini

Policy

In carrying out CSR activities in the field of social and community development, the Company refers to the Law No. 40 of 2007 regarding Limited Liability Company (UUPT), which regulates the Company’s participation in sustainable economic development. The implementation of Company’s CSR also aims to improve the quality of life and the environment so as to benefit the Company, the local community, and public in general.

Plans and Targets

The Company has prepared various plans and targets for the implementation of CSR activity in the field of social and community development, among others by conducting the Business Continuity Plan for SMEs.

Activities

Business Continuity Plan for SMEsThe fact that several areas in Indonesia are struck by natural disasters every so often, is a concern as well as priority for the Company. These events have claimed many lives and properties, and even the economy around the impacted area is also paralyzed, such as the disasters that often occur in Bali.

Bali is one of the many areas in Indonesia that has a potential hazard for tsunamis, earthquakes, volcanoes, floods, and fires. However, there is a significant number of people who work and depend their life on trading and other business activities in Bali as demonstrated by the amount of MSMEs in the area. Being aware of this issue, the


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A B C D E F G H

Company is encouraged to make an effort to run a CSR program that can anticipate all the worst possibilities related to disaster.

In 2018, the Company carried out CSR initiatives in the social and community aspect through Business Continuinity Plan (BCP) for SMEs. The program aimed to protect community’s business activities and had been carried out in several locations, including Pasar Sindu Sanur, Pasar Kumbasari, Pasar Rakyat Agung, and Pasar Sari Pedungan in Bali. In this program, the Company provided training and mentoring activities related to community-run businesses that are engaged in Micro, Small and Medium Enterprises (MSMEs), in relation to the sustainability of their business against disasters and other accidents.

Training/workshop and mentoring activities provided included the selection of strategies, priorities, and services for their business activities. Through the Business Continuinity Plan for SMEs, the Company conducted a selection based on the established criteria on as many as 100 MSMEs in Denpasar, including vendors and suppliers of MSME category that are located directly adjacent to the Company’s business units. The BCP program is an actual evidence of the Company’s concern for all stakeholders in the ecosystem of the Company’s units.

The MSMEs that have been selected are given training, workshop, and mentoring activities. The aim is to help MSMEs become resilient and anticipatory towards disasters, both major disasters such as earthquakes, tsunamis and others, as well as small disasters such as floods and fires. This program provides training for MSMEs to be able to rebuild their businesses and avoid bankruptcy/losses after the occurrence of disaster.

Costs Incurred and Impact of Activities

The Company has succeeded in transferring the learning needed to protect the business and contribute to the community and the local economy.

membuat Perseroan berupaya untuk menjalankan program CSR yang dapat mengantisipasi segala hal kemungkinan terburuk yang berkaitan dengan kebencanaan.

Pada tahun 2018, Perseroan menjalankan inisiatif program CSR dalam bidang sosial dan kemasyarakatan melalui program Business Continuinity Plan (BCP) for SMEs. Program ini bertujuan untuk melindungi kegiatan bisnis masyarakat yang telah dilaksanakan di beberapa lokasi meliputi Pasar Sindu Sanur, Pasar Kumbasari, Pasar Rakyat Agung, dan Pasar Sari Pedungan di Bali. Dalam program ini Perseroan memberikan training dan mentoring terkait usaha yang dijalankan masyarakat yang bergerak dalam bidang Usaha Mikro Kecil dan Menengah (UMKM), berkaitan dengan keberlanjutan bisnis mereka dari bencana dan kecelakaan lainnya.

Training/Workshop dan mentoring yang diberikan mencakup pemilihan strategi, prioritas serta layanan dalam kegiatan usaha yang dijalankan. Melalui Business Continuinity Plan for SMEs, Perseroan melakukan seleksi berdasarkan kriteria yang telah ditetapkan sebanyak 100 UMKM di Denpasar, termasuk di dalamnya vendor dan supplier kategori UMKM yang selama ini berdampingan langsung dengan unit bisnis Perseroan. Program BCP merupakan bukti nyata yang menjadi perhatian Perseroan terhadap seluruh pemangku kepentingan yang berada dalam ekosistem unit-unit Perusahaan.

UMKM yang berhasil dijaring tersebut diberikan pelatihan, workshop dan mentoring. Tujuannya adalah untuk membantu agar UMKM menjadi tangguh dan antisipatif terhadap bencana, baik bencana besar seperti gempa, tsunami dan lainnya, maupun bencana kecil seperti banjir hingga kebakaran. Program ini memberikan pembekalan bagi UMKM untuk dapat membangun kembali usaha mereka dan terhindar dari kebangkrutan/kerugian paska terjadi bencana.

Biaya yang dikeluarkan dan Dampak Kegiatan

Perseroan telah berhasil mentransfer pembelajaran yang dibutuhkan dalam melindungi bisnis dan berkontribusi pada masyarakat dan ekonomi

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setempat. Adapun lokasi kegiatan dilaksanakan di beberapa pasar di Denpasar Bali meliputi Pasar Sindu Sanur, Pasar Kumbasari, Pasar Rakyat Agung, dan Pasar Sari Pedungan. Pada masa mendatang, Perseroan berharap dapat menjalankan program BCP di wilayah sekitar unit usaha Perseroan lainnya.

Sepanjang tahun 2018, Perseroan telah mengeluarkan biaya sebesar Rp562,32 juta untuk pelaksanaan kegiatan Business Continuity Plan for SMEs. Dampak yang diharapkan pada kegiatan CSR Perseroan diantaranya dapat membantu dan membentuk UMKM yang tangguh terhadap bencana.

The locations of the activities are in several markets in Denpasar, Bali, including Pasar Sindu Sanur, Pasar Kumbasari, Pasar Rakyat Agung, and Pasar Sari Pedungan. In the future, the Company hopes to run the BCP program in the area around other business units of the Company.

Throughout 2018, the Company has spent Rp562.32 million for the implementation of Business Continuity Plan for SMEs. Through this activity, it is expected that the Company can assist and established SMEs that are resilient to disasters.

TANGGUNG JAWAB SOSIAL PERUSAHAAN DALAM BIDANG TANGGUNG JAWAB TERHADAP KONSUMEN Corporate Social Responsibil i ty to Customers

Kebijakan

Dalam memenuhi tanggung jawab terhadap konsumen, Perseroan menempatkan konsumen sejajar sebagai mitra usaha Perseroan, oleh karena itu Perseroan berkomitmen untuk melakukan komunikasi yang aktif dan responsif. Aktif memberikan informasi yang jelas kepada calon konsumen maupun responsif dalam memberikan layanan keluhan pelanggan yang disampaikan kepada Perseroan.

Rencana dan Target

Rencana dan target pelaksanaan CSR Perseroan dalam bidang tanggung jawab terhadap konsumen dilakukan dengan menjalankan komitmen untuk meningkatkan kepuasan pelanggan berdasarkan standar operasional prosedur yang ketat.

Policy

In fulfilling its responsibilities to customers, the Company puts customers as its equal business partners; therefore, the Company is committed to performing active and responsive communication with its customers. This means that the Company shall actively provide clear information to prospective customers and be responsive to the complaints submitted by the customers to the Company.

Plans and Targets

Plans and targets for the implementation of Company’s CSR in the aspect of responsibility to customers are carried out by upholding the commitment to improving customer satisfaction based on strict operational standard procedures


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TESTIMONITestimonials

Bapak Ngakan Penjual Buah di Pasar Agung

Kesan pertama saya mengikuti workshop sangat bagus. Saya yang awalnya tidak tahu menjadi tahu. Meskipun masalahnya dipandang sepele tapi penting sebagai pengetahuan mengahadapi bencana, apa tindakan kita seandanya ada kebakaran, gempa dan lain-lain. Sangat bermanfaat bagi kami pedagang yang selama ini kurang mengetahui. Suasana yang penuh kekeluargaan, santai, tapi serius. Sehingga membuat kami bisa mengerti. Saya berharap, workshop ini dapat tetap berlanjut dalam jangka panjang.

Terima kasih The Paradise Group

Mr. NgakanFruit Seller at Pasar Agung

My first impression was that the workshop was very good. From having no knowledge about such an important issue, I was able to gain an understanding about the efforts to deal with disasters; what should we do if there are fire, earthquakes, and so on. It was very beneficial for us, traders, who have not been aware of this. The workshop was conducted in a ‘family’ atmosphere, relaxed but serious; thus, we can understand about the materials given to us. I hope, this workshop can continue in the future.

Thank you, The Paradise Group


Perseroan yang bergerak di bidang pelayanan akomodasi (hotel) dituntut untuk selalu menjaga kenyamanan pelanggannya, oleh karena itu setiap karyawan diikutsertakan dalam pelatihan tentang pelayanan pelanggan yang dapat memberikan kepuasan. Hasil pelatihan itu kemudian ditinjau dan diuji oleh pihak yang berwenang dan diberikan sertifikasi sebagai bukti bahwa Perseroan telah menerapkan standar operasional kerja di bidang hospitality.


Engaged in accommodation (hotel) service, the Company is required to always maintain the comfort of its customers. Hence, every employee is included in training activities on services that can improve customer satisfaction. The results of the training are reviewed and tested by the authorities and given certification as a proof that the Company has implemented operational standards in the hospitality sector.

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Ibu Wayaswati/BellaPenjual Sembako

Workshop ini sangat bagus, saya mendapat banyak pengalaman baru. Dari sebelumnya saya belum tahu bagaimana menanggulangi bencana, akhirnya menjadi tahu. Melalui acara ini, saya dapat mengerti bagaimana bisa tetap maju dan tangguh menghadapi bencana. Workshop ini juga membuat saya bertemu dengan banyak teman dan saling bertukar pengalaman.


Bapak BagusSalon Kecantikan di Pasar Sindu

Acara ini bagus dan saya suka sekali dengan adanya workshop ini. Kami dapat terbantu dan mengerti penanggulangan bagi UMKM dalam menghadapi bencana alam, kebakaran, gempa bumi. Bagi saya acara ini sangat family, banyak materi yang kami terima sangat bermanfaat ke depan.


Mrs. Wayaswati/BellaStaple needs seller

This workshop is very good. I was able to gain a lot of new experiences and to understand and be aware of the method to cope with disasters. Through this workshop, I also understand how to move forward and be resilient in facing disasters. This workshop also enabled me to meet new friends and to exchange information with each other.


Mr. BagusBeauty Salon at Pasar Sindu

This program is good. I like this workshop. Through it, we can understand how to respond to natural disasters, such as fire and earthquake, as an MSME. For me, this event is very family-friendly, much of the material we receive is very useful in the future.



LAPORAN TAHUNANAnnual Report

Centennial Tower, 30th FloorJl. Gatot Subroto

Kav. 24-25, Jakarta 12930, Indonesia

Phone (62-21) 2988 0466Fax (62-21) 2988 0460

e-mail [email protected]

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