journey to bring national capacityzona transisi dan laut dengan teknologi canggih terbaru. 3....

@elnusaofficialPT ELNUSA TbkANNUAL REPORT

LAPORAN TAHUNAN 2019

IDX: ELSA www.elnusa.co.id Elnusa PT Elnusa Tbk

J o u r n e y t o B r i n gN at i o n a l C a pa c i t y

Langkah untuk Mewujudkan Kapasitas Nasional

Annual Report 2019 Laporan Tahunan2

Annual Report 2019 Laporan Tahunan 3

Journey to BringNational Capacity

Lima dasawarsa perjalanan PT Elnusa Tbk telah dilalui hingga menjadi Perusahaan jasa energi nasional yang mampu memberikan solusi total seperti sekarang. Beragam krisis dan dinamika industry berhasil dilewati. Tidak sedikit pula ragam kreativitas dan inovasi sudah dihasilkan. Melewati 50 tahun ini, transformasi Elnusa tentu belum berhenti. Perusahaan ini akan terus menggeliat mengikuti perubahan jaman. Bukan sekedar untuk hidup, tetapi tetap kokoh diatas jalur yang dipilih untuk menjadi jalannya.

Five decades of the journey of PT Elnusa Tbk have been passed to become a national energy service company that is able to provide a total solution like now. Various crises and dynamics of the industry successfully passed. Not a little variety of creativity and innovation have been produced. Over the past 50 years, Elnusa’s transformation has certainly not stopped. This company will continue to stretch following the changing times. Not just for life, but still firm above the path chosen to be the way.

Langkah untuk Mewujudkan Kapasitas Nasional

PT Elnusa TbkAnnual Report 2019 Laporan Tahunan4

50 TAHUN ELNUSA50th Elnusa

TOTAL SOLUTION ENERGY SERVICES

GEOSCIENCE & RESERVOIR SERVICES

PRODUCTION, OPERATION & MAINTENANCE SERVICES

1. Pelopor layanan survei eksplorasi minyak dan gas sejak tahun 1972, dengan cakupan wilayah seismik terbesar di Indonesia.

2. Andal dalam melakukan layanan seismik di darat, zona transisi dan laut dengan teknologi canggih terbaru.

3. Menghasilkan data pencitraan seismik terbaik, didukung oleh para ahli dan perangkat lunak terbaru.

1. Memiliki kompetensi unggul dari pengeboran minyak dan gas hingga manajemen lapangan, serta menjadi pemimpin pasar layanan workover hidrolik di Indonesia.

2. Dukungan lebih dari 30 tahun untuk pengelolaan ladang minyak di Blok Mahakam sebagai salah satu ladang minyak dan gas nasional utama.

3. Berpengalaman dalam Jasa Pengadaan Konstruksi dan Operasi & Pemeliharaan Layanan baik di darat, lepas pantai, dan bawah air serta perputaran utama untuk fasilitas minyak dan gas.

1. Pioneer of oil and gas exploration survey services since 1972, with the largest coverage of seismic areas in Indonesia.

2. Reliable in performing seismic services at land, transition zones and marine with the latest advanced technology.

3. Producing the best seismic imaging data, supported by experts and the latest software.

1. Has superior competence from oil and gas drilling to field management, as well as being the market leader of the hydraulic workover services in Indonesia.

2. More than 30 years of support for oil field management at Mahakam Block as one of main national oil and gas fields.

3. Experienced in Engineering Procurement Construction and Operation & Maintenance Services both onshore, offshore, and underwater as well as turnaround of major for oil and gas facilities.

Annual Report 2019 Laporan TahunanPT Elnusa Tbk 5

JASA PENUNJANG 1. Mendukung peningkatan kapabilitas nasional melalui fabrikasi hydraulic workover unit dan peralatan migas lainnya.

2. 100% Menahkodai dan mengawaki kapal survei seismik terbesar bebendera Indonesia pertama untuk penemuan cadangan migas.

3. Mengelola data migas maupun energi nasional.

1. Supporting national capacity upgrade through hydraulic workover unit and other oil and gas tools.

2. 100% leading and operating first seismic support ship with Indonesian flag to find oil and gas stock.

3. Maintaining nationwide oil, gas, and energy data.

ENERGY DISTRIBUTION & LOGISTIC SERVICES

1. Profesional dan kompeten dalam layanan logistik & distribusi bahan bakar, mulai dari depo dan manajemen terminal hingga transportasi ke seluruh penjuru negeri.

2. 2. Mengelola lebih dari 1.500 transportasi logistik bahan bakar di berbagai daerah di Indonesia dengan memprioritaskan ketepatan waktu, aspek keamanan & keselamatan.

1. Professional and competent in fuel logistics & distribution services, from depot and terminal management to transportation to all corners of country.

2. Managed more than 1,500 fuel logistics transportation in various regions of Indonesia by prioritizing quality timeliness, security & safety aspects.

> 1,500 FUEL FLOOT


GLOSARIUMGlossary

SingkatanAbbreviation

DefinisiDefinition

2D Dua Dimensi/ Two Dimension

3D Tiga Dimensi/ Three Dimension

AGMS Annual General Meeting of Shareholders

APBN Anggaran Pendapatan dan Belanja Negara/ State Budget

APMS Agen Premium Minyak Solar/ Premium Diesel Fuel Agent

ARA Annual Report Award

AS/US Amerika Serikat/ United States

ASEAN Association of South East Asia Nation

AVO Amplitude Versus Offset

AWB Accomodation Work Barge

B3 Bahan Berbahaya dan Beracun/ Hazardous and Toxic Materials

BAPEPAM Badan Pengawas Pasar Modal/Capital Market Supervisory Agency

Bapepam-LK

Badan Pengawasan Pasar Modal - Lembaga Keuangan/Capital Market Supervisory Agency - Financial Institution

BBK Bahan Bakar Khusus/ Special fuels

BBM Bahan Bakar Minyak/ Oil fuel

BBMK Bahan Bakar Minyak Khusus/ Special Fuels

BEI/IDX PT Bursa Efek Indonesia/ Indonesia Stock Exchange

BEST Beasiswa Terpadu/ Integrated Scholarship

BI Bank Indonesia

BNI Syariah Bank Negara Indonesia Syariah/ Indonesian State Bank-Sharia

BUMN/ SOE

Badan Usaha Milik Negara/ State-Owned Enterprise

CBM Coal Bed Methane

CIP Contionus Improvement Program

CMT Cementing Service

CoC Standar Etika/ Code of Conduct

COSO Comittee of Sponsoring Organizations

CSR Corporate Social Responsibility

CTU Coiled Tubing Unit

DFS Drilling Fluid Services

DMS Document Management System

DPPU Depot Pengisian Pesawat Udara/ Aircraft Filling Depot

EBITDA Earning Before Interest, Tax, Depreciation and Amortization

EER Elnusa Emergency Response

EFK PT Elnusa Fabrikasi Konstruksi

ELSA Kode Saham Elnusa/ Elnusa Ticker Code


DefinisiDefinition

EPC Engineering, Procurement & Construction

EPN PT Elnusa Petrofin

EPS Elnusa Petroleum School

ERM Enterprise Risk Management

ESDM Kementerian Energy dan Sumber Daya Mineral/ Ministry of Energy and Mineral Resources

ESOP Employee Stock Option Plan

ETSA PT Elnusa Trans Samudera

EWL Electric Wireline Logging

FAME Fatty Acid Methyl Ester

GCG Good Corporate Governance

GDL Geo Data Acquisition Land

GDM Geo Data Acquisition Transition Zone & Marine Zone & Marine

GDP Geo Data Processing

GGR Geology, Geophysics and Reservoir

GPS Global Positioning System

GRI Global Reporting Initiative

GMS General Meeting of Shareholders

H2S Hydrogen Sulfide

HAGI Himpunan Ahli Geofisika Indonesia/ Indonesia Association of Geophysicists

HRIS Human Resources Information System

HSSE Health, Safety, Security & Environment

HWU Hydraulic Workover Unit

IAI Ikatan Akuntan Indonesia/Institute of Indonesia Chartered Accountants

IAGI Ikatan Ahli Geologi Indonesia/Indonesian Association of Geologist

ICBC Industrial and Commercial Bank of China

ICP Indonesia Crude Price

ICT Information Communication Technology

IFRS International Financial Reporting Standard

IHSG Indeks Harga Saham Gabungan/ IDX Composite

IIA The Institute of Internal Auditor

IMF International Monetary Fund

IPO Penawaran Umum Saham Perdana/ Initial Public Offering

ISO International Organization for Standardization

LCT Landing Craft Tank

LHA Laporan Hasil Audit/ Audit Report

LPG Liquefied Petroleum Gas

LTI Lost Time Injury

MEA Masyarakat Ekonomi ASEAN/ ASEAN Economic Community



DefinisiDefinition

Migas Minyak dan Gas/ Oil and Gas

MLU Mud Logging Unit

MOR Marketing Operation Region

MPP Masa Persiapan Pensiun/ Retirement Preparation Period

MSOP Management Stock Option Pan

NPM Net Profit Margin

O&M Operation & Maintenance

OCTG Oil Country Tubular Goods

OHS Occupational Health and Safety

OHSAS Occupational Health and Safety Assessment System

OJK Otoritas Jasa Keuangan/ Financial Services Authority

ONH Ongkos Naik Haji/ Pilgrimage Cost Assistance

OPEC NGLS

Organizations of the Petroleum Exporting Countries Natural Gas Liquid

OPM Operating Profit Margin

P/B Price to Book

P/E Price to EPS

Permen Peraturan Menteri/ Ministerial Regulation

Perseroan PT Elnusa Tbk/ The Company

Pertamina PT Pertamina (Persero)

PEP PT Pertamina EP

PHE PT Pertamina Hulu Energi

PHE ONWJ PT Pertamina Hulu Energi

PHE WMO PT Pertamina Hulu Energi West Madura Offshore

PHM Pertamina Hulu Mahakam

POMS Production and Operation Maintenance Services

PKAT Program Kerja Audit Tahunan/ Annual Audit Work Program

PNBP Penerimaan Negara Bukan Pajak/ Non-Tax Revenue

PP Peraturan Perusahaan/ Company Regulations

PPh Pajak Penghasilan/ Income Tax

PPN Pajak Pertambahan Nilai/ Value Added Tax

PSAK Pernyataan Standar Akuntansi Keuangan/Statement of Financial Accounting Standards

PUMP Pumping Services

RJPP Rencana Jangka Panjang Perusahaan/The Company’s Long Term Plan

RKAP Rencana Kerja dan Anggaran Perusahaan/Work Plan and Budget

ROA Return on Assets

ROE Return on Equity


DefinisiDefinition

RUPS Rapat Umum Pemegang Saham /General Meeting of Shareholder

SAK Standar Akuntansi Keuangan/ Financial Accounting Standards

SCU PT Sigma Cipta Utama

SDM/ HR Sumber Daya Manusia/ Human Resources

SEOJK Surat Edaran Otoritas Jasa Keuangan/Circular Letter of the Financial Services Authority

SK Surat Keputusan/ Decision Letter

SKK Migas Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi/ Special Unit Taskforce of Oil and Gas

SPOB Self Propelled & Oil Barge

SL Slickline Services

SMBCI Sumitomo Mitsui Banking Corp

SOP Standard Operating Procedures

SPBB Stasiun Pengisian Bahan Bakar Bunker/Bunker Fuel Filling Stations

SPBE Stasiun Pengisian Bulk LPG/ Bulk LPG Filling Stations

SPBU Stasiun Pengisian Bahan Bakar Umum/ Gas Station

SPE Serikat Pekerja Elnusa/ Labor Unions Elnusa

SPK Sistem Pengelolaan Kerja/ Performance Management System

TBBM Terminal Bahan Bakar Minyak/ Fuel Terminal

TBE Taman Belajar Elnusa/ Elnusa Learning Park

THM Tabung Hikmah Mandiri/ Hikah Mandiri Tube

THR Tunjangan Hari Raya/ Religious Holiday Allowance

TZ Transition Zone

US$ United States Dollar/ Dolar Amerika

UU Undang-Undang/ Law

UUPT Undang-Undang Perseroan Terbatas/Limited Liability Company Law

UTD Ulang Tahun Dinas/ Service Anniversaries

VHS Vendor Held Stock

VICO PT Vico Indonesia

VTMS Vessel Traffic Management and Information System

WBS Whistleblowing System

WB Working Barge

WK Wilayah Kerja/ Working Area

WP & B Work Program and Budget

WT Well Testing Service

WTI West Texas Intermediate


DAFTAR ISITable of Contents

50 Tahun Elnusa 450th Elnusa

Glosarium 6Glossary

Daftar Isi 8Table of Contents

01KILAS KINERJAPerformance Highlights

Ikhtisar Data Keuangan Penting 14Key Financial Highlights

IKHTISAR SAHAM 18Share Highlights

Informasi tentang Aksi Korporasi 22Information on Corporate Actions

Informasi tentang Obligasi, Sukuk, atau Obligasi Konversi

22

Information about Bonds, Sukuk, or Convertible Bonds

Peristiwa Penting di 2019 23Significant Events in 2019

02LAPORAN MANAJEMENManagement Report

Laporan Dewan Komisaris 32Board of Commissioners Report

Laporan Direksi 44Board of Directors Report

03PROFIL PERUSAHAANCompany Profi le

Informasi Umum Perusahaan 58Company General Information

Riwayat Singkat Perusahaan 59Company Brief History

Bidang Usaha 61Business Fields

Struktur Organisasi 68Organizational Structure

Visi, Misi, Nilai, dan Budaya Perusahaan

70

Corporate Vision, Mission, Values & Culture


Profil Dewan Komisaris 72Board of Commissioners Profile

Profil Direksi 77Board of Directors Profile

Profil Pejabat Eksekutif 81Excecutive Officers Profile

Sumber Daya Manusia 87Human Resources

Struktur dan Komposisi Pemegang Saham

106

Structure and Composition of Shareholders

Kronologis Penerbitan dan Pencatatan Saham

111

Sharelisting and Issuance Chronology

Kronologis Penerbitan dan Pencatatan Efek Lainnya

112

Chronology of Issuance and Listing of Other Securities

Struktur Grup Perseroan 113Company Group Structure

Daftar Entitas Anak dan Entitas Asosiasi, Ventura Bersama/Kerja Sama Operasi

115

List of Subsidiaries and Associates, Joint Ventures/Joint Operations

Alamat Entitas Anak dan/atau Kantor Cabang atau Kantor Perwakilan

122

Addresses of Subsidiaries and/or Branch Offices or Representative Offices

Wilayah Operasional 124Operational Area

Daftar Lembaga dan Profesi Penunjang Perusahaan

130

List of Supporting Institutions and Professionals of the Company

Daftar Penting Lainnya 130Other Important List

Penghargaan dan Sertifikasi

Awards and Certificate

131

Pendidikan dan/atau Pelatihan Dewan Komisaris, Direksi, Komite-Komite, Sekretaris Perusahaan, dan Unit Audit Internal

135

Education and/or Training of the Board of Commissioners, Directors, Committees, Corporate Secretary, and Internal Audit Unit

04ANALISIS DAN PEMBAHASAN MANAJEMENManagement Discussion

and Analysis

Tinjauan Perekonomian dan Industri 142Economic and Industry Review

Rencana Strategis 2019 1492019 Strategic Plan

Tinjauan Operasi per Segmen Usaha 150Operating Overview per Business Segment

Tinjauan Keuangan 174Financial Review

Kinerja Rasio Keuangan, Kolektibilitas Piutang dan Kemampuan Membayar Hutang

188

The Financial Ratio Performance, Receivable Collectivity and Ability to Repay Loans

Struktur Modal dan Kebijakan Manajemen atas Struktur Modal

189

Capital Structure and Management Policy on Capital Structure

Ikatan yang Material untuk Investasi Barang Modal

191

Material Commitments for Investment of Capital Goods

Realisasi Investasi Barang Modal 192Realization of Investment in Capital Goods

Informasi Material Mengenai Investasi, Ekspansi, Divestasi, Penggabungan Usaha, Akuisisi, dan/atau Restrukturisasi Utang/Modal

193

Material Information Regarding Investment, Expansion, Divestment, Business Combinations, Acquisitions, and/or Debt/Capital Restructuring

Perbandingan antara Target Anggaran dengan Realisasi, dan Proyeksi Usaha

193

Comparison between Budget Targets with Realization, and Business Projection

Dampak Nilai Tukar Mata Uang Asing 195Impact of Foreign Exchange Rates


Informasi dan Fakta Material yang Terjadi Setelah Tanggal Laporan Akuntan

195

Information and Materil Facts that Occur After Balance Sheet Date

Prospek Usaha 196Business Prospect

Aspek Pemasaran 198Marketing Aspect

Kebijakan Dividen dan Pembagiannya 200Dividend Policy and Its Distribution

Kontribusi terhadap Negara 201Contribution to the State

Informasi tentang Program Kepemilikan Saham oleh Karyawan dan/atau Manajemen (ESOP/MSOP)

201

Information about Share Ownership Program by Employee and/or Management (ESOP/MSOP)

Informasi tentang Realisasi Penggunaan Dana Hasil Penawaran Umum

202

Information on the Realization of Fund from the Initial Public Offering

Informasi Transaksi Material yang Mengandung Benturan Kepentingan dan/atau Transaksi dengan Pihak Afiliasi/Pihak Berelasi

204

Information on Material Transaction with Potential Conflict of Interests and/or Transactions with Affiliated Parties/Related Parties

Informasi Keuangan yang Mengandung Kejadian yang Bersifat Luar Biasa dan Jarang Terjadi

204

Financial Information that Contains Extraordinary and Uncommon Events

Perubahan Peraturan Perundang-undangan yang Berpengaruh Signifikan terhadap Perusahaan

204

Changes in Regulations that have Significant Impact on the Company

Perubahan Kebijakan Akuntansi dan Dampaknya terhadap Perusahaan

204

Accounting Policies Changes and Its Impact on the Company

Informasi Kelangsungan Usaha 205Information Regarding Business Continuity

05TATA KELOLA PERUSAHAANCorporate Governance

Prinsip Dasar Tata Kelola Perusahaan yang Baik

210

Good Corporate Governance Basic Principles

Perkembangan Penerapan GCG di Lingkup Perseroan

211

Development of GCG Implementation in Company Environment

Infrastruktur dan Softstructure GCG Elnusa

216

Elnusa GCG Infrastructure and Softstructure

Road Map Pengembangan Tata Kelola Perusahaan yang Baik

219

Good Corporate Governance Development Roadmap

Penilaian atau Evaluasi atas Penerapan Tata Kelola Perusahaan yang Baik

220

ASEAN Corporate Governance Scorecard Assessment by IICD 2019

Struktur Organ Tata Kelola Perusahaan yang Baik

222

Organizational Structure of Good Corporate Governance

Organ Pendukung Dewan Komisaris 278Supporting Organs of the Board of Commissioners

Organ Pendukung Direksi 295Directors Supporting Organs

Akuntan Publik 308Public Accountant

Manajemen Risiko 311Risk Management

Sistem Pengendalian Internal 318Internal Control System

Perkara Penting 320Important Matters


Akses Informasi dan Data Perusahaan 324Access to Company Information and Data

Tata Kelola Teknologi Informasi 333Information Technology Governance

Kode Etik 336Code of Ethics

Pengendalian Gratifikasi 339Gratification Control

Informasi Pemberian Dana untuk Kegiatan Politik

340

Funding Information for Political Activities

Kebijakan Anti Korupsi 340Anti-Corruption Policy

Pengelolaan Benturan Kepentingan dan Hubungan dengan Pihak Berelasi

341

Management of Conflicts of Interest and Relationships with Related Parties

Kebijakan Pengadaan Barang dan Jasa 342Goods and Services Procurement Policy

Whistleblowing System 345Whistleblowing System

Transparansi Praktik Bad Governance 348Bad Governance Practice Transparency

Kesesuaian Penerapan Tata Kelola Perusahaan terhadap Asean Corporate Governance Scorecard (ACGS)

350

Conformity of the Implementation of Corporate Governance to the Asean Corporate Governance Scorecard (ACGS)

06TANGGUNG JAWAB SOSIAL PERUSAHAANCorporate Social Responsibil i ty

Tata Kelola Tanggung Jawab Sosial Perusahaan

356

Governance of Corporate Social Responsibility

Tanggung Jawab Sosial Terkait Operasi yang Adil

364

Social Responsibility towards Fair Operations

Tanggung Jawab Sosial Terkait Hak Asasi Manusia (HAM)

369

Social Responsibility towards Human Rights

Tanggung Jawab Sosial Perusahaan Bidang Lingkungan Hidup

372

Corporate Social Responsibility towards the Environment

Tanggung Jawab Sosial Perusahaan Bidang Ketenagakerjaan, Kesehatan dan Keselamatan Kerja

377

Corporate Social Responsibility towards Employment, Occupational Health and Safety

Tanggung Jawab Sosial Perusahaan Bidang Pengembangan Sosial dan Kemasyarakatan

387

Corporate Social Responsibility towards Social and Community Development

Tanggung Jawab Sosial Perusahaan Lingkup Tanggung Jawab Terhadap Konsumen

392

Corporate Social Responsibility in the Scope of Responsibility to Customers

07LAMPIRANAppendix

Referensi SilangPOJK 29/POJK.04/2016 danSEOJK 30/SEOJK.04/2016

398

Referensi SilangPOJK 29/POJK.04/2016 danSEOJK 30/SEOJK.04/2016

Laporan Keuangan 427Financial Statement

KILAS KINERJAPerformance Highlights

01KILAS KINERJAPerformance Highlights

The Company’s revenue in 2019 grew by 27% to Rp8.3 t r i l l ion. Th is revenue achievement is again a new record for the success of the Company that carved the h ighest achievements dur ing the Company’s establ ishment .

Pendapatan Perseroan pada tahun 2019 tumbuh sebesar 27% menjadi Rp8,3 triliun. Pencapaian pendapatan ini kembali menjadi catatan baru bagi keberhasilan Perseroan yang menorehkan prestasi tertinggi selama Perseroan berdiri.



Laba (Rugi) dan Penghasilan Komprehensif Lain KonsolidasianConsolidated Profit (Loss) and Other Comprehensive Income

Dalam jutaan Rupiah, kecuali Dinyatakan Lain In million Rupiah, unless Otherwise Stated

UraianDescription 2019 2018 2017 2016 2015

PertumbuhanGrowth

2018-2019

(%)

PendapatanRevenue 8.385.122 6.624.774 4.978.986 3.620.570 3.775.323 26,6

Beban Pokok PendapatanCost of Revenue (7.514.040) (5.972.680) (4.400.484) (3.005.985) (3.056.513) (225,8)

Laba Bruto Gross Profit 871.082 652.094 578.502 614.585 718.810 33,6

Laba (Rugi) OperasiIncome (Loss) of Operation 533.681 380.775 344.540 418.877 470.194 40,2

EBITDAEBITDA 966.064 767.220 712.473 723.098 735.788 25,9

Beban Keuangan*Finance Costs (57.120) (40.296) (19.852) (24.266) (36.265) (41,9)

Laba (Rugi) Tahun BerjalanIncome (Loss) for the Current Year 356.477 276.316 250.754 316.066 379.745 29,0

Laba (Rugi) Komprehensif Tahun BerjalanComprehensive Income (Loss) for the Current Year

345.625 288.075 238.473 318.798 375.831 20,0

Laba (Rugi) Tahun Berjalan yang Dapat Diatribusikan kepada:Profit (loss) for the Current Year Attributable to:

- Pemilik Entitas Induk Owner of Parent Entity 356.474 276.314 247.140 310.911 375.364 29,0

- Kepentingan Non-Pengendali Non-controlling Interest 3 2 3.614 5.155 4.381 50,0

JumlahTotal 356.477 276.316 250.754 316.066 379.745 29,0

Laba (Rugi) Komprehensif yang Dapat Diatribusikan kepada:Comprehensive Profit (loss) for the Current Year Attributable to:- Pemilik Entitas Induk Owner of Parent Entity 345.622 288.073 234.865 313.643 371.360 20,0

- Kepentingan Non-Pengendali Non-controlling Interest 3 2 3.608 5.155 4.471 50,0

JumlahTotal 345.625 288.075 238.473 318.798 375.831 20,0

Laba (Rugi) Bersih per Saham Dasar (Nilai Penuh)Net Profit (Loss) per Share (Full Amount) 48,84 37,86 33,86 42,6 51,43 25,1

*) Beban keuangan yang tercantum dalam Laporan ini tanpa (rugi) selisih kurs atas pinjaman*) The financial costs included in this report are without (loss) the foreign exchange difference on the loan

IKHTISAR DATA KEUANGAN PENTINGKey Financial Highlights


PendapatanIncome

Laba BersihNet Profit

3.775.323

4.978.986

6.624.774

8.385.124

3.620.570

2015

2016

2017

2018

2019

2015

375.364

247.140

276.314

356.474

310.911

2016

2017

2018

2019

Posisi Keuangan KonsolidasianConsolidated Financial Position



PertumbuhanGrowth

2018-2019

(%)

Aset LancarCurrent Assets 3.698.370 3.158.507 2.379.465 1.865.116 2.079.319 17,1

Aset Tetap dan Properti Investasi - NetoFixed Assets and Investment Property - Net 1.871.197 1.787.847 1.621.184 1.664.747 1.533.479 4,7

Jumlah AsetTotal Assets 6.805.037 5.657.327 4.855.369 4.190.956 4.407.513 20,3

Liabilitas Jangka PendekCurrent Liabilities 2.504.335 2.116.898 1.757.781 1.254.181 1.448.585 18,3

Liabilitas Jangka Panjang Non-current Liabilities 724.004 240.229 45.668 59.032 323.742 201,4

Jumlah Liabilitas Total Liabilities 3.228.339 2.357.127 1.803.449 1.313.213 1.772.327 37,0

Utang BerbungaInterest Bearing Debt 1.127.040 821.415 697.268 549.770 739.728 37,2

EkuitasEquity 3.576.698 3.300.200 3.051.920 2.877.743 2.635.186 8,4

Modal Kerja - NetoWorking Capital - Net 1.194.035 1.041.609 621.684 610.935 630.734 14,6



Jumlah AsetTotal Assets

Jumlah LiabilitasTotal Liabilities

4.407.513 1.772.324

4.855.369 1.803.449

5.657.327 2.357.127

6.805.035 3.228.339

4.190.956 1.313.213

2015 2015

2016 2016

2017 2017

2018 2018

2019 2019

Arus Kas KonsolidasianConsolidated Statements of Cash Flow



PertumbuhanGrowth

2018-2019

(%)

Kas Bersih yang Diperoleh dari Aktivitas OperasiNet Cash Provided by Operating Activities 575.797 344.756 395.459 447.139 424.237 67,0

Kas Bersih yang Diperoleh dari (Digunakan untuk) Aktivitas InvestasiNet Cash Provided by (Used in) Investing Activities

(671.113) (586.671) (358.506) (295.227) (538.079) 14,4

Kas Bersih yang Diperoleh dari (Digunakan untuk) Aktivitas PendanaanNet Cash Provided by (Used in) Financing Activities

239.286 37.374 119.698 (312.200) (82.849) 540,2

Kas dan Setara Kas pada Akhir TahunCash and Cash Equivalent at the End of the Year 856.122 719.457 902.563 744.387 934.968 19,0


Rasio-Rasio KeuanganFinancial Ratios



PertumbuhanGrowth

2018-2019

(%)

Margin Laba BrutoGross Profit Margin 10,39% 9,84% 11,62% 16,97% 19,04% 6

Margin Laba OperasiOperating Profit Margin 6,36% 5,75% 6,92% 11,57% 12,45% 11

Margin Laba Bersih**Net Profit Margin** 4,25% 4,17% 4,96% 8,59% 9,94% 2

Margin Laba Bersih Tanpa Laba (Rugi) Penjualan Aset Tetap***Net Profit Margin Excluded Gain (Loss) Sale of Fixed Assets*** 4,25% 4,19% 4,98% 8,55% 9,95% 1

Margin EBITDAEBITDA Margin 11,52% 11,58% 14,31% 19,97% 19,49% (1)

Rasio LancarCurrent Ratio 1,15 1,49 1,35 1,49 1,44 (23)

Perputaran Total AsetTotal Asset Turnover 123,22% 117,10% 102,55% 86,39% 85,66% 5

Imbal Hasil AsetReturn on Assets 5,24% 4,88% 5,09% 7,42% 8,52% 7

Imbal Hasil EkuitasReturn on Equity 9,97% 8,37% 8,10% 10,80% 14,24% 19

Utang Berbunga/EkuitasInterest Bearing Debt/Equity 0,32 0,25 0,23 0,19 0,28 26

Utang Berbunga/Jumlah AsetInterest Bearing Debt/Total Assets 0,17 0,15 0,14 0,13 0,17 10

Utang Berbunga/EBITDAInterest Bearing Debt/EBITDA 1,17 1,07 0,98 0,76 1,01 9

EBITDA/Beban KeuanganEBITDA/Interest Expense 16,91 19,04 35,89 29,8 20,29 117

Jumlah Liabilitas/EkuitasTotal Liabilities/Equity 0,90 0,71 0,59 0,46 0,67 27

Jumlah Liabilitas/AsetTotal Liabilities/Assets 0,47 0,42 0,37 0,31 0,4 13

Kas Neto yang Diperoleh dari Aktivitas Operasi/Laba BersihNet Cash Provided by Operating Activities/ Net Income 1,62 1,25 1,6 1,44 1,13 29

Kas Neto yang Diperoleh dari Aktivitas Operasi/Kas dan Setara Kas pada Akhir TahunNet Cash Provided by Operating Activities/Cash and Cash Equivalents at the End of the Year

0,67 0,48 0,44 0,6 0,45 40

Kas dan Setara Kas pada akhir tahun/Utang BerbungaCash and Cash Equivalents at the End of the Year/Interest Bearing Debt

0,76 0,88 1,29 1,35 1,26 (14)

Laba Bersih/Jumlah KaryawanNet Profit/Number of Employees 209,69 156,64 139,55 180,55 213,03 34

** Perhitungan margin laba bersih yang tercantum dalam laporan ini menggunakan Laba Tahun yang Berjalan yang Dapat Diatribusikan kepada Pemilik Entitas Induk.*** Perhitungan Margin Laba Bersih Tanpa Laba (Rugi) Penjualan Aset Tetap yang tercantum dalam laporan ini menggunakan Laba Tahun Berjalan yang dapat Diatribusikan kepada Pemilik Entitas Induk - Tanpa Laba (Rugi) Penjualan Aset Tetap.

** Net profit margin in this reports is calculated using the Profit for the Current Year Attributable to Owners of the Parent Entity.*** Net Profit Margin Excluded Gain (Loss) on Sale of Fixed Assets in this reports is calculated using the Profit for the Current Year Attributable to Owners of the Parent Entity Excluded Gain (Loss) on Sale of Fixed Assets.



IKHTISAR SAHAMShare Highlights

PeriodePeriod

Jumlah Saham Beredar

(Lembar)Outstanding

Shares(Shares)

Kapitalisasi PasarMarket

Capitalization(Rp)

Harga PembukaanOpening

Price (Rp)

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Price(Rp)

Harga TerendahLowest Price(Rp)

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Closing Price(Rp)

Volume Perdagangan

(Lembar)Trading Volume(Shares)

Nilai Perdagangan Rata-Rata

Average Trading Value(Rp)

2019

Triwulan IQuarter I 7.298.500.000 2.627.460.000.000 340 408 336 360 11.425.200 17.059.902.313

Triwulan IIQuarter II 7.298.500.000 2.758.833.000.000 366 410 332 378 12.943.600 9.092.785.898

Triwulan IIIQuarter III 7.298.500.000 2.335.520.000.000 378 392 320 320 11.327.500 9.163.588.278

Triwulan IVQuarter IV 7.298.500.000 2.233.341.000.000 320 336 272 306 13.205.000 5.967.125.241

2018





2017





Harga Penutupan dan Volume Perdagangan ELSA 2018-2019Closing Price and ELSA Trading Volume 2018-2019

BulanHarga Penutupan

Closing PriceVolume Perdagangan

Trading Volume Month

Januari 2018 426 115.065.100 January 2018Februari 2018 505 51.023.400 February 2018Maret 2018 466 35.155.200 March 2018April 2018 422 63.878.400 April 2018Mei 2018 410 43.272.500 May 2018Juni 2018 336 27.059.700 June 2018Juli 2018 356 52.069.300 July 2018Agustus 2018 362 51.006.400 August 2018September 2018 372 30.050.200 September 2018Oktober 2018 376 87.573.500 October 2018November 2018 304 24.485.000 November 2018Desember 2018 344 47.984.900 December 2018Januari 2019 364 83.395.400 January 2019Februari 2019 368 20.527.800 February 2019Maret 2019 360 11.425.200 March 2019April 2019 386 13.787.100 April 2019Mei 2019 348 11.162.100 May 2018Juni 2019 378 12.943.600 June 2019Juli 2019 360 46.716.900 July 2019August 2019 346 69.524.200 August 2019September 2019 320 11.327.500 September 2019October 2019 314 18.223.200 October 2019November 2019 272 27.676.600 November 2019December 2019 306 13.205.000 December 2019


Grafis Harga Penutupan dan Volume Perdagangan ELSA 2018-2019Closing Price & Trading Volume Chart ELSA 2018-2019

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INFORMASI TENTANG KINERJA SAHAMSituasi perekonomian dan keuangan sepanjang tahun 2019 dapat masih bergejolak dan penuh cerita baik pada tatanan global maupun nasional. Cerita besar yang menghiasi pasar di tahun ini tak lepas dari Perang Dagang yang sangat berdampak tidak hanya kepada dua negara AS dan China namun juga negara dunia lain terutama emerging markets seperti Indonesia. Tensi perang dagang terbilang naik turun dengan segala dinamikanya yang memberi tekanan pada pasar, namun luar biasanya adalah Indeks saham AS seperti Dow Jones dan S&P sebagai indikator pasar global malah kembali mencatatkan rekor penguatan dengan pertumbuhan masing-masing 23% dan 29% atau ditutup di level 28.538,4 dan 3.230,8.

Sedangkan di lingkup nasional, pemilihan presiden 2019 memberi warna tersendiri pada sentimen pasar domestik yang tercermin pada gejolak Indeks Harga Saham Gabungan (IHSG) dan pergerakan kurs mata uang Rupiah. Kinerja Indeks Harga Saham Gabungan (IHSG) di tahun 2019 cenderung flat dengan ditutup pada 6.299,5 atau hanya bergerak sebesar 1,6% sepanjang 2019. Lain IHSG lain pula Indeks saham pertambangan (Jakmine Index) mencatatkan kinerja yang berbanding terbalik dengan tahun sebelumnya. Jakmine yang tahun sebelumnya mencatatkan pertumbuhan 10% harus mengeliminasi kenaikan tahun lalu tersebut dengan penurunan sebesar 11% dari Januari hingga Desember 2019.

INFORMATION ON SHARES PERFORMANCEThe economic and financial situations throughout 2019 were still volatile yet had some good news both in the global and national scales. The big story that made headlines this year was Trade War which greatly affected not only the US and China but also other countries, especially emerging markets like Indonesia. The tension of the trade war was fluctuating and that put pressure on the market, but amazingly the US stock indexes such as Dow Jones and S&P as indicators of the global market recorded a strengthening record with growth of 23% and 29% respectively or closed at the level 28,538.4 and 3,230.8.

Meanwhile the national sphere saw the 2019 presidential election that influenced the domestic market sentiment, which was reflected in the fluctuation of the Indonesian Composite Index (IHSG) and the movement of the Rupiah. Performance of the Indonesian Composite Index (IHSG) in 2019 tended to be flat with closing at 6,299.5 or only moved by 1.6% during 2019. Mining stock index (Jakmine Index) recorded a performance that was inversely proportional to the previous year. Jakmine, which recorded a 10% growth the previous year, went down by 11% from January to December 2019.

Trading Volume Closing Price



ELSA JKSE JAK MINE

ELSA JCI JAKMINE

Jan-19 May-19 Sept-19Mar-19 Jul-19 Nov-19Feb-19 Jun-19 Oct-19Apr-19 Aug-19 Dec-19

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Penurunan indeks saham pertambangan ternyata cukup sejalan dengan kinerja saham ELSA yang memang termasuk dalam klasifikasi saham pertambangan di IHSG. Dari sisi harga komoditas seperti minyak sepanjang tahun 2019 mampu menguat dari level USD47 di awal tahun hingga bertengger di kisaran USD60 per barel di akhir tahun.

ELSA membuka perdagangan 2019 pada posisi Rp340 dan hanya sempat menyentuh harga tertinggi di Rp360 pada penutupan kuartal I 2019. Sempat melanjutkan penguatan hingga Rp410 di semester I 2019 yang merupakan level harga tertinggi di 2019 seiring dengan perbaikan pertumbuhan laba Perseroan dari hanya tumbuh 7% atau Rp76 miliar di kuartal I menjadi Rp155 miliar atau tumbuh 21% pada akhir Juni 2019.

Sepanjang kuartal III/2019 saham ELSA sudah bergerak mendatar cenderung turun di kisaran Rp320–Rp392 dengan rata-rata volume perdagangan sejumlah 26 juta lembar saham perharinya. Kinerja keuangan ELSA mampu tumbuh 28% untuk pendapatan namun laba hanya naik 8% menjadi Rp5,9 triliun dan Rp238 miliar.

Memasuki kuartal IV/2019 pergerakan saham ELSA juga tidak lebih baik bahkan cenderung menurun dibanding kuartal sebelumnya. Pada periode Oktober hingga Desember ini tingkat harga tertinggi ELSA hanya Rp336 dan terendah mencapai Rp272 pada akhir November di mana level ini pun sekaligus sebagai level terendah sepanjang tahun 2019.

Kinerja fundamental Elnusa secara full year 2019 sebenarnya jauh lebih baik dibanding tahun 2018 terutama pada sisi pendapatan yang mengalami kenaikan signifikan sebesar 25% YoY menjadi Rp8,3 triliun. Laba bersih yang berhasil dicatatkan pun tumbuh baik pada tiap kuartal sepanjang tahun dibanding tahun sebelumnya sehingga Elnusa berhasil mencatat pertumbuhan laba secara signifikan sebesar 29% yoy menjadi Rp356 miliar pada akhir Desember 2019.

The decline in the mining stock index turned out to be quite in line with the performance of ELSA's shares which are included in the classification of mining shares in the IHSG. In terms of commodity prices such as oil was able to increase from $47 at the beginning of the year to $60 per barrel at the end of the year.

ELSA opened trading in 2019 at Rp340 and only had its highest price at Rp360 during the closing of the first quarter of 2019. It was able to continue to go up to Rp410 in the first semester of 2019 which marked the highest price in 2019 along with the improvement in the Company's profit growth from 7% or Rp76 billion in the first quarter to Rp155 billion, growing by 21% at the end of June 2019.

Throughout the third quarter of 2019, ELSA shares went flat and down to Rp320–Rp392 with an average trading volume of 26 million shares per day. ELSA's financial performance was able to grow by 28% for revenue but profit only up by 8% to Rp5.9 trillion and Rp238 billion.

Entering the fourth quarter the movement of ELSA shares was also not better and even tended to decline compared to the previous quarter. In the October to December period the highest price reached only Rp336 and the lowest reached Rp272 by the end of November in which it was also the lowest level during 2019.

Elnusa's fundamental performance in 2019 was actually far better than in 2018, especially in terms of revenue which increased significantly by 25% YoY to Rp8.3 trillion. The recorded net profit also grew well in each quarter throughout the year compared to the previous year. Elnusa managed to record a significant profit growth of 29% yoy to Rp356 billion at the end of December 2019.


Pertumbuhan signifikan Elnusa ini merupakan kontribusi dari keseluruhan segmen baik dari segmen jasa hulu yang ditopang oleh aktivitas jasa seismik dan jasa production & operation maintenance yang tumbuh signifikan di tahun ini. Segmen jasa logistik & distribusi energi juga semakin kokoh dalam meningkatkan pertumbuhan bisnisnya. Sementara itu segmen jasa penunjang juga turut berkontribusi positif pada Perseroan.

ELSA

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Secara keseluruhan kinerja saham ELSA pada penutupan perdagangan tahun 2019 mengalami penurunan sebesar 10% sehingga ditutup pada harga Rp306 dibanding pembukaan awal tahun yang sebesar Rp340 level harga tertinggi yang pernah dicapai tahun 2019 ini yaitu Rp410 pada akhir April dan harga terendah tercatat Rp272 di akhir November 2019.

Rata-rata volume perdagangan sepanjang tahun 2019 turun lebih dari 50% menjadi senilai 29 juta lembar saham perhari dibanding tahun lalu. Kapitalisasi pasar ELSA di penghujung 2019 tercatat sebesar Rp2,2 triliun dibanding kapitalisasi pasar ELSA pada akhir 2018 lalu yang sebesar Rp2,5 triliun.

Secara valuasi multiple harga di akhir tahun 2019 dengan Earnings per Share sebesar Rp48 per lembar maka saham ELSA memiliki nilai P/E sebesar 6 kali dan P/B sebesar 0,6 kali. Nilai yang sebetulnya sangat menarik dan merupakan nilai yang undervalue bagi investor mengingat ELSA merupakan Perusahaan jasa energi utama di Indonesia yang masih memiliki peluang bertumbuh dari keseluruhan segmen jasanya dan menjadi pemain penting di kawasan regional maupun global.

The significant growth of Elnusa is the contribution of the entire segment both from the upstream service segment which is supported by seismic service activities and production & operation maintenance services which grew significantly this year. The logistics & distribution services segment in energy is also becoming stronger in increasing business growth. Meanwhile the supporting services segment also contributed positively to the Company.

Overall, ELSA's stock performance at the close of trading in 2019 decreased by 10%, closing at Rp306 in comparison to the beginning of the year which was at Rp340, the highest price in 2019 was Rp410 by the end of April and the lowest price was recorded at Rp272 by the end of November 2019.

The average trading volume in 2019 fell more than 50% to 29 million shares per day compared to last year. ELSA's market capitalization at the end of 2019 was Rp2.2 trillion, lower compared to ELSA's market capitalization at the end of 2018 which was Rp2.5 trillion.

In valuation of multiple prices, by the end of 2019 with Earnings Per Share of Rp48 per share, ELSA shares had a P/E value of 6 times and P/B of 0.6 times. The value is actually very interesting and is an undervalued value for investors considering that ELSA is a major energy services company in Indonesia that still has the opportunity to grow from its entire service segment and become an important player in the nation and global.



INFORMASI TENTANG OBLIGASI, SUKUK, ATAU OBLIGASI KONVERSIInformation on Bonds, Sukuk, or Convertible Bonds

INFORMASI TENTANG AKSI KORPORASIInformation on Corporate Actions

Perseroan tidak mengeluarkan obligasi/sukuk/obligasi konversi sepanjang tahun 2018 dan 2019.

Tidak terdapat aksi korporasi seperti aksi pemecahan saham (stock split), penggabungan saham (reverse stock), saham bonus, maupun penurunan nilai nominal saham, dalam dua tahun terakhir.

There have been no corporate actions such as stock split, reverse stock, shares bonus, or a decrease in the nominal value of shares in the last two years.

The Company did not issue bonds/sukuk/convertible bonds during 2018 and 2019.


PERISTIWA PENTING DI 2019Significant Events in 2019

JANUARI

FEBRUARI

FEBRUARI

MARET

FEBRUARI

MARET

23

19

25

05

26

20

January

February

February

March

February

March

Perseroan raih penghargaaan Zero Incident & Zero Accident oleh Pertamina EP Asset 4. Kegiatan ini digelar bertujuan sebagai closing meeting project “Pembangunan Subsea Pipeline Construction for Gas Lift and Top Side Modification BW Platform PT Pertamina EP Asset 4”.

The Company won Zero Incident & Zero Accident award by Pertamina EP Asset 4. This activity was held as a closing event for the project meeting of "Construction of the Subsea Pipeline Construction for Gas Lift and Top Side Modification of the PT Pertamina EP Asset 4 BW Platform".

Perseroan menutup tahun buku 2018 dengan berhasil membukukan pendapatan usaha sebesar Rp6,6 triliun dan laba bersih Rp276 miliar. Hal ini jauh meningkat bila dibandingkan dengan capaian 2017 yang mencatatkan pendapatan usaha Rp4,9 trilun dan laba bersih Rp247 miliar.

The Company closed the 2018 fiscal year by successfully posting operating revenues of Rp6.6 trillion and net profit of Rp276 billion. This is far higher compared to the achievements in 2017 which recorded operating income of Rp4.9 trillion and net profit of Rp247 billion.

Perseroan melakukan penandatanganan kerja sama dalam memberikan solusi teknologi IOT pengelolaan air di Kota Tengerang bersama PDAM Tirta Benteng Kota Tangerang dan PT Moya Tangerang pada 25 Februari 2019 di Kantor PDAM Tangerang. Solusi teknologi IOT tersebut ialah membantu pengelolaan infrastruktur Moya pada proses monitoring dan analisis data distribusi air Smart Water Meter serta penggunaan daya listrik pada Water Treatment Plant secara realtime dan akurat.

The Company signed a cooperation agreement to provide IOT technology solutions for water management in Tangerang City in cooperation with PDAM Tirta Benteng Kota Tangerang and PT Moya Tangerang on February 25, 2019 at the Tangerang PDAM Office. The IOT technology solution is to help Moya's infrastructure management in the process of monitoring and analyzing Smart Water Meter water distribution data and the use of electric power in the Water Treatment Plant in realtime and accurately.

Perseroan serahkan hunian tetap dan fasilitas sumur air bersih untuk korban bencana alam di Sulawesi Tengah pada 5 Maret 2019. Penyerahan hunian ini merupakan rangkaian dari kepedulian sosial Perseroan.

PT Elnusa Tbk donated permanent housing and clean water well facilities for victims of natural disasters in Central Sulawesi. This event is a series of the Company's social responsibilities to harmonize the environment.

Perseroan menggelar acara Vendor Annual Meeting pada 26 Februari 2019 di Ruang Udaya – Graha Elnusa. Gelaran tersebut mengundang seluruh mitra kerja Elnusa dengan mengusung tema “Synergy for Business Opportunities & Optimizing Productivity”.

The Company held the Vendor Annual Meeting on February 26, 2019 in Udaya Room - Graha Elnusa. The event invited all Elnusa partners to carry the theme "Synergy for Business Opportunities & Optimizing Productivity".

Perseroan jalin Corporate Innovation Alliance (CIA) untuk akselerasi pengelolaan inovasi pada 20 Maret 2019 di Telkom Landmark Tower, Jakarta. Pembentukan aliansi ini adalah karena banyaknya hambatan internal dalam berinovasi. Aliansi ini merupakan wadah untuk saling belajar atas berbagai hambatan dalam melakukan perubahan dan saling berbagi best practices atas penyelesaian hambatan tersebut.

PT Elnusa Tbk established a Corporate Innovation Alliance (CIA) to accelerate innovation management. This alliance is a forum for mutual learning of various obstacles in making changes and sharing best practices for resolving internal obstacles in innovation.



MEIMay

PT Elnusa Petrofin (EPN) anak usaha Perseroan kembali dipercaya oleh PT Pertamina (Persero) sebagai bagian dari Satuan Tugas Ramadan dan Idul Fitri (Satgas RAFI) 2019. Tugas dan tanggung jawab satgas ini adalah menjamin ketersediaan serta kelancaran distribusi BBM Pertamina selama Ramadan dan Idul Fitri.

PT Elnusa Tbk through its subsidiary PT Elnusa Petrofin (EPN) was once again trusted by PT Pertamina (Persero) as part of the Ramadan and Eid Al-Fitr Task Force (RAFI Task Force) 2019. The task and responsibility of this task force is to guarantee the availability and smooth distribution of Pertamina's fuel oil distribution during Ramadan and Eid.

28

MARET APRIL APRIL18-20 11 25March April April

Perseroan berhasil meraih tujuh penghargaan di gelaran Annual Pertamina Quality (APQ) Awards yang diselenggarakan oleh PT Pertamina (Persero). Ajang ini merupakan penghargaan atas inovasi terbaik yang dilakukan oleh karyawan yang berasal dari berbagai unit bisnis dan anak usaha Pertamina dalam penerapan empat pilar Quality Management.

The Company Tbk won seven awards at the Annual Pertamina Quality (APQ) Awards held by PT Pertamina (Persero). This event is an award for the best innovation made by employees from various business units and Pertamina's subsidiaries in implementing the four pillars of Quality Management.

Perseroan Bagikan Dividen Rp69 miliar dari Laba Bersih dalam Rapat Umum Pemegang Saham Tahunan (RUPST) 2018 pada 11 April 2019, di Graha Elnusa, Jakarta. RUPST tersebut menyepakati untuk membagikan dividen sebesar 25% dari laba bersih, atau senilai Rp69 miliar.

Dividend Distribution of Rp69 billion from Net Profit at the 2018 Annual General Meeting of Shareholders (AGMS). At the AGM, the Company agreed to distribute a dividend of 25% of net income, or a value of Rp69 billion.

Perseroan melakukan survei data akuisisi laut di Perairan Vietnam, Semenanjung Indocina. Elsa Regent kapal survei seismik berbendera Indonesia ini mengarungi lautan dengan total panjang lintasan survei sejauh 7000 km.

The Company conducted a survey of sea acquisition data in the waters of Vietnam, Indochina Peninsula. Elsa Regent, the Indonesian-flagged seismic survey vessel, sailed the ocean with a total length of 7,000 km of survey paths.

Perseroan raih penghargaan dari SOCO Exploration Vietnam Ltd (SOCO) atas rampungnya Survei Marine 2D Seismic & Magnetic Data Acquisition di Semenanjung Indocina, Vietnam. Apresiasi ini disampaikan langsung oleh General Manager SOCO Vincent Duignan kepada Direktur Utama Elnusa Elizar P. Hasibuan, yang diserahkan langsung di Kantor Operasi SOCO – Vietnam.

The Company obtained an award from SOCO Exploration Vietnam Ltd (SOCO) for completing the Marine 2D Seismic & Magnetic Data Acquisition Survey on the Indochina Peninsula, Vietnam. This appreciation was delivered directly by General Manager of SOCO Vincent Duignan to the President Director of Elnusa Elizar P. Hasibuan, which was handed over directly at the SOCO Operations Office - Vietnam.

JUNI06June

Perseroan bersama dengan PT Pertamina EP menyalurkan bantuan kepada masyarakat yang terdampak banjir di beberapa desa di Banggai pada 19 Juli 2019. Wilayah yang terdampak tersebut diantaranya kecamatan Toili dan Moilong, Kabupaten Banggai – Sulawesi Tengah. Bantuan yang disalurkan merupakan kebutuhan pokok seperti sembako dan kebutuhan pokok lainnya.

The Company together with PT Pertamina EP distributed assistance to flood-affected communities in several villages in Banggai on July 19, 2019. The affected areas included Toili and Moilong sub-districts, Banggai Regency - Central Sulawesi. The distributed assistance consists of basic needs such as basic food and other basic items.

JULI19July


Perseroan kembali menggelar aksi donor darah yang bekerja sama dengan Palang Merah Indonesia (PMI). Kegiatan rutin ini disambut antusias oleh para Insan Elnusa maupun tenant Gedung Graha Elnusa.

The Company once again held a blood donation in collaboration with the Indonesian Red Cross (PMI). This routine activity was welcomed enthusiastically by the Elnusa Employees and tenants of the Graha Elnusa Building.

Perseroan berhasil membukukan Pendapatan usaha tengah tahun yang meningkat 29% dari Rp2,9 triliun pada semester I-2018 menjadi Rp3,8 triliun di semester I 2019. Laba bersih naik 21% dari Rp128 miliar menjadi Rp155 miliar. Hasil semester ini merupakan buah kerja terbaik di tengah bayang volatilitas harga minyak yang sempat mengalami penurunan curam pada penghujung 2018.

The Company managed to record half-year operating revenues which increased by 29% from Rp2.9 trillion in semester I-2018 to Rp3.8 trillion in semester I of 2019. Net income rose 21% from Rp128 billion to Rp155 billion. The results of this semester are the best the midst of the volatility of oil prices which experienced a steep decline at the end of 2018.

JULI JULI23 30July July

Perseroan melalui anak usahanya PT Elnusa Petrofin (EPN) pada segmen Jasa Distribusi & Logistik Energi resmi mengambil alih kelola Depot Liquified Petroleum Gas (LPG) Pressurized di Amurang, Minahasa Selatan pada 30 Agustus 2019.

The Company through its subsidiary PT Elnusa Petrofin (EPN) in the Energy Logistics & Distribution Services segment officially took over the management of the Pressurized Liquified Petroleum Gas (LPG) Depot in Amurang, South Minahasa on August 30, 2019.

AGUSTUS30

Perseroan melalui anak perusahaannya PT Elnusa Petrofin pada segmen Jasa Distribusi & Logistik Energi resmi mengambil alih pengelolaan Terminal Bahan Bakar Minyak (TBBM) Tanjung Pandan, Kabupaten Belitung, Provinsi Kepulauan Bangka Belitung.

The Company through its subsidiary PT Elnusa Petrofin in the Energy Logistics & Distribution Services segment officially took over the management of Tanjung Pandan Fuel Oil Terminal (TBBM), Belitung Regency, Bangka Belitung Islands Province.

AGUSTUS13August

Perseroan melakukan 1 (satu) kali paparan publik, bertempat di Bursa Efek Indonesia pada 28 Agustus 2019 untuk menyampaikan kinerja tengah tahun Perseroan dan strategi serta rencana kerja yang akan datang.

The Company conducted 1 (one) public exposure, at the Indonesia Stock Exchange on August 28, 2019 to deliver the Company's mid-year performance and future strategies and work plans.

AGUSTUS28August August

Perseroan menorehkan tinta emas perjalanan ke-50 tahunnya tepat pada 9 September 2019.

The Company incised its 50th business operation history on September 9, 2019.

SEPTEMBER09September



OKTOBER21October

Perseroan bersama dengan PT Dowell Anadrill Schlumberger (Schlumberger) menandatangani kontrak kerja sama dengan PT Pertamina Hulu Mahakam (PHM) untuk jasa Cementing Offshore di rawa Delta Mahakam, pekan lalu (21/10). Kerja sama ini juga merupakan sinergi diantara Elnusa dan PHM sebagai bagian dari Pertamina Group, yang akan berlangsung selama 24 bulan.

The Company together with PT Dowell Anadrill Schlumberger (Schlumberger) signed a cooperation contract with PT Pertamina Hulu Mahakam (PHM) for Cementing Offshore services in the Delta Mahakam swamp last week (21/10). This collaboration is also a synergy between Elnusa and PHM as part of Pertamina Group, which will last for 24 months.

Perseroan jajaki kolaborasi dengan berbagai perusahaan untuk memperkuat kompetensi jasa maupun memperluas pangsa pasar yang dimiliki. Hal tersebut di realisasikan Perseroan dengan melakukan kerja sama dengan TGS - NOPEC Geophysical Company (TGS), perusahaan asal Norwegia yang bergerak dalam penyediaan data geosains seluruh dunia. Kerja sama ini merupakan salah satu dari beberapa penjajakan peluang usaha baru yang diinisiasi Elnusa dan ditanda tangani pada perayaan ulang tahun Elnusa, 9 September 2019 lalu.

The Company explored collaboration with various companies to strengthen service competencies and expand its market share. The Company realized this by collaborating with TGS - NOPEC Geophysical Company (TGS), a Norwegian company engaged in providing geosciences data worldwide. This cooperation is one of the several exploratory new business opportunities initiated by Elnusa and signed at Elnusa's birthday celebration on September 9, 2019.


OKTOBER08October

Perseroan melalui anak usahanya PT Elnusa Petrofin (EPN) bersama dengan PT Pertamina (Persero) dalam rangka memenuhi kebutuhan pasokan bahan bakar Avtur di wilayah operasional Bandara Radin Inten II, meresmikan sarana dan fasilitas Modular Tank di Depot Pengisian Pesawat Udara (DPPU) Pertamina Bandara Radin Inten II Lampung Selatan.

The Company through its subsidiary PT Elnusa Petrofin (EPN) together with PT Pertamina (Persero) in order to meet the needs of Avtur fuel supply in the operational area of Radin Inten II Airport, inaugurated the Modular Tank facilities in the Pertamina Aircraft Filling Depot (DPPU) Radin Inten II Airport, South Lampung.

OKTOBER28October

Perseroan tonjolkan Keberagaman dalam gelaran Upacara Sumpah Pemuda dengan mengenakan Pakaian Adat di Lapangan Sport Center, Graha Elnusa – Jakarta pada 28 Oktober 2019. Usai upacara, Perseroan juga mengadakan serangkaian acara dengan tema “Berbeda Tapi Tetap Satu” seperti Talkshow dan Diskusi yang bertemakan Bela Negara untuk meningkatkan rasa cinta terhadap Tanah Air dan berbagai hal yang sedang mengancam NKRI, juga acara kajian keagamaan untuk muslim dan kajian keagamaan untuk Nasrani.

The Company highlighted Diversity in the Sumpah Pemuda Ceremony event by wearing Traditional Clothing at the Sports Center Field, Graha Elnusa - Jakarta on October 28, 2019. After the ceremony, the Company also held a series of events with the theme "Berbeda Tapi Tetap Satu" such as Talkshow and Discussion themed Plead to the State to increase love for the country and various things that are threatening the Republic of Indonesia, as well as religious studies for Muslims and religious studies for Christians.

Perseroan teken Memorandum of Understanding (MOU) Komitmen Zona Integritas bersama dengan Kantor Pelayanan Pajak (KPP) Wajib Besar Tiga pada 12 September 2019. Penandatanganan nota kesepahaman tersebut adalah dalam rangka pembangunan Zonasi Integritas (ZI) menuju Wilayah Bebas Korupsi (WBK) dan Wilayah Birokrasi Bersih dan Melayani dengan tujuan mewujudkan Good and Clean Governance menuju pegawai pajak dan pegawai Perseroan yang bersih dan bebas Korupsi, Kolusi dan Nepotisme.

The Company signed Memorandum of Understanding (MOU) Commitment to the Integrity Zone together with the Tax Office (KPP) of the Big Three Mandatory on September 12, 2019. The signing of the memorandum of understanding is in the framework of building Integrity Zoning (ZI) towards Corruption-Free Areas (WBK) and Clean and Servicing Bureaucracy Region with the aim of realizing Good and Clean Governance towards tax employees and Company employees who are clean and free of Corruption, Collusion and Nepotism.


Elnusa berhasil mendapatkan medali Emas dan Special Award di ajang inovasi bergengsi “4th Istanbul International Inventions Fair (ISIF)” yang berlangsung di International Istanbul Atatürk Airport, Turki.

Elnusa managed to get a Gold medal and Special Award at the prestigious innovation event "4th Istanbul International Inventions Fair (ISIF)" which took place at the International Istanbul Atatürk Airport, Turkey.

SEPTEMBER17-22 September


NOVEMBER NOVEMBER18 27November November

Perseroan Mulai Layarkan Elsa Regent untuk mendukung aktivitas ekplorasi Komitmen Kerja Pasti (KKP) Jambi Merang Survei Seismik 2D di Wilayah Terbuka pada 18 November 2019. Aktivitas ini merupakan kerjasama antara Satuan Khusus Pelaksana Kegiatan Hulu dan Gas Bumi (SKK Migas) dengan PT Pertamina (Persero) Group.

The Company started Lay Elsa Regent to support the Jambi Merang Definite Work Commitment (KKP) exploration activities 2D Seismic Survey in Open Areas on 18 November 2019. This activity is a collaboration between the Special Unit for Upstream and Natural Gas (SKK Migas) Implementing Activities with PT Pertamina (Persero) Group.

Perseroan berhasil meraih tiga penghargaan sekaligus dalam Top Digital Awards 2019 yang diselenggarakan oleh majalah ItWorks di Golden Ballroom The Sultan Hotel Jakarta. Penghargaan tersebut diantaranya Top Digital Implementation 2019 on Energy & Mining Sector #Level Star 4, Top Digital Transformation Readiness 2019 dan Top Leader on Digital Implementation 2019 untuk Direktur Utama Elnusa, Elizar Parlindungan Hasibuan.

The Company won three awards at the 2019 Top Digital Awards held by ItWorks magazine at the Golden Ballroom of The Sultan Hotel Jakarta. The awards included 2019 Top Digital Implementation on Energy & Mining Sector #Level 4, Top Digital Transformation Readiness 2019 and Top Leader on Digital Implementation 2019 for Elnusa's President Director, Elizar Parlindungan Hasibuan.

NOVEMBER

DESEMBER DESEMBER

21

08 12

November

December December

Perseroan bersama dengan Schlumberger bersepakat untuk saling menjajaki berbagai peluang kolaborasi lini servis yang akan dituangkan dalam berbagai MSA lainnya. Penjajakan ini diupayakan melalui gelaran Workshop Elnusa – Schlumberger yang membahas berbagai kemungkinan penguatan lini servis, peningkatan kapasitas nasional, serta perbaikan proses bisnis dalam berbagai fungsi pendukung, Bogor.

The Company together with Schlumberger agreed to mutually explore various opportunities for collaboration service lines that will be set forth in various other MSAs. The exploration is being pursued through the Elnusa-Schlumberger Workshop which discusses various possibilities to strengthen service lines, increase national capacity, and improve business processes in various supporting functions, Bogor.

Papuan Academy adalah pelatihan yang digagas oleh PT Elnusa Tbk sebagai upaya menyiapkan tenaga handal untuk mendukung pekerjaan operations & maintenance (OM) di BP Tangguh. Tahap pertama ini, direkrut 20 talenta handal putra daerah Papua. Program ini dilaksanakan secara komprehensif dengan metode 10-20-70 dengan trainer dari internal maupun eksternal Elnusa yang dilaksanakan dalam waktu kurang lebih 2 bulan.

Papuan Academy is a training that was initiated by PT Elnusa Tbk as an effort to prepare reliable personnel to support operations & maintenance (OM) work at BP Tangguh. In this first stage, 20 talented talents from the Papua’s youth were recruited. The program was carried out comprehensively using the 10-20-70 method with internal and external trainers from Elnusa which took place in approximately 2 months.

Perseroan meraih penghargaan dari PT Pertamina Geothermal Energy atas jasa hydraulic workover atau kerja ulang sumur. Penghargaan tersebut merupakan pengakuan atas keunggulan jasa Elnusa dalam mendukung keberhasilan pekerjaan kurs sumur panas bumi PGE. Penghargaan diberikan langsung oleh Direktur Utama PGE Ali Mundakir kepada Direktur Utama Elnusa Elizar P. Hasibuan, dalam gelaran Hari Ulang Tahun ke-13 PGE, di Jakarta.

The Company won an award from PT Pertamina Geothermal Energy for hydraulic workover services. The award was an acknowledgment of the excellence of Elnusa's services in supporting the successful work of the PGE geothermal well rate. The award was given directly by Managing Director of PGE Ali Mundakir to Managing Director of Elnusa Elizar P. Hasibuan, at the PGE 13th Anniversary event, in Jakarta.

LAPORAN MANAJEMENManagement Report

Throughout 2019 the nat ional bus iness c l imate is indeed f i l led wi th var ious chal lenges. But that d id not dampen E lnusa’s business per formance which was a lways moving posi t ive ly .

Sepanjang tahun 2019 iklim usaha nasional memang dipenuhi dengan berbagai tantangan. Namun hal itu tak menyurutkan kinerja usaha Elnusa yang senantiasa bergerak positif.


LAPORAN DEWAN KOMISARIS DAN DIREKSIReport from Board of Commissioners and Directors


1

45 2 3

1 Narendra Widjajanto Komisaris UtamaPresident Commissioner

2 Lusiaga Levi Susila Komisaris IndependenIndependent Commissioner

3 Anis Baridwan Komisaris IndependenIndependent Commissioner

4 Antonius Ratdomopurbo Komisaris Commissioner

5 Eman Salman Arief Komisaris Commissioner



LAPORAN DEWAN KOMISARISBOARD OF COMMISSIONERS REPORT

Komisar is Utama/Pres ident Commiss ioner

Narendra Widjajanto


Para Pemegang Saham dan Pemangku Kepentingan yang terhormat,

Mengawali laporan Dewan Komisaris, dengan segala kerendahan hati kami memanjatkan puji dan syukur ke hadirat Allah SWT, Tuhan Yang Maha Esa atas segala limpahan rahmat dan karunia-Nya terhadap pencapaian Elnusa hingga diusianya yang genap ke-50 tahun pada tahun 2019. Melalui laporan ini, izinkan saya mewakili Dewan Komisaris Perseroan menyampaikan laporan perjalanan dan pencapaian Perseroan sepanjang tahun 2019 yang menjadi bagian dari pertanggungjawaban kami selaku Dewan Komisaris dalam melakukan pengawasan terhadap jalannya Perseroan.

KONDISI EKSTERNALPergeseran dalam perekonomian global terutama volatilitas pasar keuangan yang meningkat berdampak pada menurunnya pertumbuhan ekonomi dunia tahun 2019. Sebagaimana dilansir dari Laporan Bank Indonesia bahwa pertumbuhan ekonomi global 2019 melambat menjadi 2,9%, atau lebih rendah dibandingkan dengan pertumbuhan 2018 sebesar 3,6%. Perlambatan ini diikuti oleh penurunan volume perdagangan dan harga komoditas dunia yang mengakibatkan berkurangnya aliran modal global ke negara berkembang termasuk Indonesia. Ketidakpastian pasar keuangan global mulai berkurang pada triwulan akhir 2019, pasca ditempuhnya banyak kebijakan stimulus fiskal dan moneter di berbagai negara guna memitigasi risiko perlambatan ekonomi. Respons tersebut termasuk langkah the Fed yang mulai menurunkan suku bunga kebijakan, Fed Funds Rate, pada akhir Juni 2019.

Dear Shareholders and Stakeholders,

We, as the Board of Commissioners, would like to start the report with praise and gratitude to the presence of Allah SWT, the Almighty God for all of His abundant blessing and grace toward the achievement of Elnusa for its 50th anniversary in 2019. Through this report, allow me to represent the Company's Board of Commissioners to submit reports on the journey and achievements of the Company throughout 2019 which is part of our responsibility as the Board of Commissioners in monitoring the course of the Company.

EXTERNAL CONDITIONSThe shift in the global economy, especially the increased financial market volatility, has an impact on the decline in world economic growth in 2019. As reported by Bank Indonesia Report that global economic growth in 2019 slowed to 2.9%, or lower than the 2018 growth of 3.6%. This slowdown was followed by a decrease in the volume of trade and world commodity prices which resulted in reduced global capital flows to developing countries including Indonesia. Global financial market uncertainties began to ease in the final quarter of 2019, following the adoption of many fiscal and monetary stimulus policies in various countries to mitigate the risk of an economic slowdown. The response includes the Fed's move to start reducing the policy rate, the Fed Funds Rate, at the end of June 2019.

Dewan Komisaris memberikan apresiasi terhadap penerapan strategi yang tepat sasaran karena mampu meningkatkan efisiensi operasional dan pengelolaan risiko yang cukup efektif.The Board of Commissioners appreciates the implementation of strategies that are right on target because the implementation of the strategy allows the company to improve operational efficiency and manage risk quite effectively.



Pertumbuhan ekonomi global yang melambat berdampak pada turunnya kinerja ekspor Indonesia. Ekspor 2019 terkontraksi 0,87%, berbalik arah dari kinerja 2018 yang tumbuh 6,55%. Di tengah kinerja sektor eksternal yang kurang menguntungkan, permintaan domestik tetap kuat sehingga menopang pertumbuhan ekonomi Indonesia 2019 tetap baik yakni 5,02%. Perekonomian domestik yang tetap berdaya tahan mendorong kenaikan aliran masuk modal asing, menopang surplus Neraca Pembayaran Indonesia (NPI) yang tercatat surplus 4,68 miliar dolar AS dan memperkuat nilai tukar Rupiah yang secara rerata menguat 0,76% dan secara point-to-point menguat 3,58% sehingga ditutup di level Rp13.883 per dolar AS pada akhir 2019. Inflasi juga tetap rendah dan terkendali sehingga mendukung stabilitas makroekonomi.

Untuk harga minyak dunia, rerata pada 2019 tercatat sebesar 65 dolar AS per barel, menurun dibandingkan rerata harga pada 2018 sebesar 71 dolar AS. Dilansir dari Laporan Direktorat Jenderal Minyak dan Gas Bumi, Kementerian ESDM bahwa realisasi lifting minyak bumi selama periode Januari-Desember 2019 adalah mencapai 745,61 MBOPD atau mencapai 96% dibandingkan asumsi APBN tahun 2019 sebesar 775 MBOPD. Sementara untuk lifting gas bumi sepanjang tahun 2019 mencapai 1.057 MBOEPD atau 85% dari target 1.250 MBOEPD. Faktor yang menyebabkan rendahnya capaian realiasi lifting minyak dan gas bumi tahun 2019 antara lain kondisi penurunan alamiah sumur-sumur migas yang ada serta kendala teknis lainnya. Dari sisi investasi subsektor minyak dan gas bumi sepanjang tahun 2019 mencapai 93% atau 12,5 miliar dolar AS dari target 13,43 miliar dolar AS.

FUNGSI PENGAWASAN DEWAN KOMISARIS DAN HUBUNGAN KERJA DENGAN DIREKSIDewan Komisaris dan Direksi merupakan organ sebuah perusahaan yang merupakan bagian dari kepatuhan terhadap peraturan dan perundang-undangan yang berlaku. Direksi memiliki peran pengelolaan jalannya pengurusan perusahaan, sedangkan Dewan Komisaris berperan untuk mengawasi pengelolaan perusahaan yang dijalankan oleh Direksi. Kedua peran ini memiliki batasan dan tanggung jawab yang berbeda atas apa yang dijalankan oleh Dewan Komisaris maupun Direksi. Meskipun adanya perbedaan peran, namun hubungan kerja diantara kedua organ ini dibangung dengan saling menghormati antar keduanya.

Pengawasan yang dilakukan Dewan Komisaris dilakukan secara konstruktif dan kolaboratif agar Direksi dapat secara cepat dan tepat menyelesaikan kendala yang muncul. Selain rapat internal mupun rapat gabungan Dewan Komisaris dan Direksi, Dewan Komisaris juga mengadakan rapat ad hoc dan juga kunjungan ke Anak Perusahaan bersama dengan Direksi yang membuat komunikasi Dewan Komisaris dan Direksi terjalin dengan baik. Di sepanjang tahun 2019, Dewan Komisaris mengadakan rapat sebanyak 12 (dua belas) kali rapat internal dan 12 (dua belas) kali rapat gabungan dengan mengundang Direksi serta 3 (tiga) kali melakukan kunjungan ke Anak Perusahaan milik Perseroan. Rapat-rapat maupun kunjungan tersebut menjadi forum bagi Dewan Komisaris untuk memantau kinerja dan pencapaian Perseroan maupun Grup sepanjang tahun 2019.

Slowing global economic growth has an impact on Indonesia's declining export performance. 2019 exports contracted 0.87%, reversing the direction of the 2018 performance which grew 6.55%. In the midst of unfavorable external sector performance, domestic demand remained strong to sustain Indonesia's economic growth in 2019 to remain good at 5.02%. The domestic economy, which has remained resilient, has pushed up foreign capital inflows, propped up a surplus of Indonesia's balance of payments (NPI) which recorded a surplus of 4.68 billion US dollar and strengthened the Rupiah exchange rate which rose by an average of 0.76% and point-to-point strengthened by 3.58% to close at Rp13,883 per US dollar at the end of 2019. Inflation has also remained low and under control so that it supports macroeconomic stability.

For world oil prices, the average in 2019 was recorded at $65 per barrel, decreased from the average price in 2018 of $71. As reported from the Directorate General of Oil and Gas Report, the Ministry of Energy and Mineral Resources said that the realization of oil lifting during the January-December 2019 period was 745.61 MBOPD or 96% compared to the 2019 State Budget assumption of 775 MBOPD. While for natural gas lifting during 2019 it reached 1,057 MBOEPD or 85% of the 1,250 MBOEPD target. Factors causing the low achievement of the realization of oil and gas lifting in 2019 include the natural decline in existing oil and gas wells and other technical obstacles. In terms of investment, the oil and gas subsector in 2019 reached 93% or 12.5 billion US dollars from the target of 13.43 billion US dollars.

BOARD OF COMMISSIONERS SUPERVISORY FUNCTIONS AND WORK RELATIONS WITH BOARD OF DIRECTORSThe Board of Commissioners and the Board of Directors are organs of the Company that comply with applicable laws and regulations. The Board of Directors has the role of managing the management of the company, while the Board of Commissioners has the role of overseeing the management of the company which run by the Directors. Both of these roles have different limits and responsibilities. Despite the different roles, the working relationship between the two organs is built with mutual respect between the two.

All supervision carried out by the Board of Commissioners is carried out constructively and collaboratively so that the Board of Directors can quickly and precisely resolve any obstacles that arise. In addition to internal meetings and joint meetings of the Board of Commissioners and the Board of Directors, the Board of Directors also held ad-hoc meetings and visits to the Subsidiaries together with the Board of Directors that helped further establish communications between members of the two boards. Throughout 2019, the Board of Commissioners held 12 (twelve) internal meetings and held 12 (twelve) joint meetings with the Directors and 3 (three) visits to the Company's subsidiaries. These meetings and visits serve as a forum for the Board of Commissioners to monitor the performance and achievements of the Company and the Group throughout 2019.


PENILAIAN ATAS KINERJA DIREKSIMENGENAI PENGELOLAAN PERUSAHAANDewan Komisaris melakukan penilaian terhadap kinerja Direksi yang meliputi aspek operasional, keuangan dan aspek lainnya yang berkaitan erat bagi keberlanjutan kegiatan usaha Perseroan. Dasar penilaian Dewan Komisaris terhadap kinerja Direksi tentunya tidak terlepas dari tingkat keberhasilan Direksi dalam merealisir Key Performance Indicator maupun RKAP Perseroan tahun 2019 seperti yang direncanakan pada awal tahun.

Atas pencapaian selama tahun 2019, Dewan Komisaris pada kesempatan ini memberikan apresiasi kepada Direksi, Manajemen dan seluruh insan Elnusa atas segala daya dan upaya maksimal yang telah dilakukan. Dewan Komisaris akan senantiasa mendukung agar Perseroan dapat terus tumbuh melalui berbagai produk dan layanan yang inovatif. Sesuai dengan perannya, Dewan Komisaris akan terus memberikan motivasi, arahan dan masukan sebagai bagian dari upaya untuk mendorong pertumbuhan yang berkesinambungan di masa depan.

Dalam aspek keuangan dibandingkan dengan pencapaian pada tahun lalu, pendapatan konsolidasi Perseroan tumbuh sebesar 27% menjadi Rp8,4 triliun. Pencapaian pendapatan ini kembali menjadi catatan baru bagi keberhasilan Perseroan yang menorehkan prestasi tertinggi selama Perseroan berdiri. Begitupun halnya dengan EBITDA tumbuh sebesar 26% menjadi Rp970 miliar dan laba bersih konsolidasi juga berhasil dibukukan pertumbuhan sebesar 29% atau Rp356 miliar. Pencapaian ini menunjukkan kemampuan Direksi yang baik dalam membuat perubahan-perubahan strategi yang diperlukan untuk merespon cepat tantangan yang ada.

Dari sisi aspek operasional sebagaimana kita ketahui bersama bahwa pada tahun 2019 harga minyak masih menjadi pekerjaan rumah bagi industri hulu migas. Rerata harga minyak tahun 2019 tidak lebih baik dibandingkan tahun 2018. Di tengah dinamika harga minyak maupun faktor makro lainnya, Direksi melalui strategi productivity and asset optimization mampu mempertahankan pertumbuhan. Dari sisi bisnis upstream, Direksi melalui Divisi Production, Operation & Maintenance Services tetap mampu melakukan optimalisasi bisnis asset based maupun non-asset based. Hal senada juga ditorehkan oleh Divisi Geoscience & Reservoir Services yang mampu mencatatkan utilisasi peralatan berjalan secara optimal terutama di bisnis Land Seismic Data Acquition. Pada bisnis jasa downstream masih menjadi revenue generator konsolidasian Perseroan dengan kontribusi yang mendominasi terutama bisnis transportasi penyaluran BBM maupun perdagangan BBM Industry & Marine. Sedangkan untuk kinerja Anak Perusahaan yang bergerak di bidang support services meskipun terdapat pertumbuhan namun tidak lebih menggembirakan dari tahun lalu. Pada segment support pertumbuhan didorong oleh kinerja pekerjaan fabrikasi maupun pekerjaan support kegiatan hulu lainnya.

ASSESSMENT OF BOARD OF DIRECTORS PERFORMANCE ON COMPANY MANAGEMENTThe Board of Commissioners evaluates the performance of the Board of Directors which covers operational, financial and other aspects that are closely related to the sustainability of the Company's business activities. The basis of the Board of Commissioners' evaluation of the Board of Directors' performance, certainly cannot be separated from the level of success of the Directors in realizing the Key Performance Indicator and the Company's RKAP in 2019 which was planned at the beginning of the year.

With all these accomplishment made through out 2019, the Board of Commissioners would like to use this occasion to extend its appreciation to the Board of Directors, to the Management and to all Elnusa employees for all the maximum work and effort that has been put in. The Board of Commissioners will always provide the support so that the Company can continue to grow through a variety of innovative products and services. In accordance to its role, the Board of Commissioners will continue to provide motivation, direction and input as part of efforts to encourage sustainable growth in the future.

In terms of financial aspects, compared to last year's achievement, the Company's consolidated revenue grew by 27% to Rp8.4 trillion. This achievement in income served as a new record for the success of the Company, which managed to obtain the highest accomplishments since its inception. EBITDA grew by 26% to Rp970 billion, while consolidated net income also recorded a growth of 29% or Rp356 billion. This achievement served as a reflection of the Board of Director's abilities and their capacity for making the strategic changes needed to respond quickly to existing challenges.

From an operational point of view, as we all know, in 2019 the price of oil will still become a homework for the upstream oil and gas industry. The average oil price in 2019 is no better than 2018. Amid the dynamics of oil prices and other macro factors, the Board of Directors through the productivity and asset optimization strategy is able to maintain growth. In terms of upstream business, the Directors through the Production, Operation & Maintenance Services Division are still able to optimize asset based and non-asset based businesses. The same achievement also ocured in the Geoscience & Reservoir Services Division which able to run the utilization of equipment optimally, especially in the Land Seismic Data Acquisition business. The downstream service business is still the Company's consolidated revenue generator with a dominant contribution, especially in the business of fuel distribution and in the fuel industry & marine's trade. As for the performance of the Subsidiaries that engaged in support services, although there was growth, it is not more encouraging than last year. The growth in support segment was driven by the performance of fabrication and other upstream support work.



Untuk aspek HSSE merupakan salah satu aspek utama dari proses bisnis Perseroan. Setiap prosedur dan tahapan kerja di seluruh kegiatan Perseroan dijalankan sesuai aturan dan pedoman HSSE yang berlaku. Pada tahun 2019, Perseroan berhasil menorehkan prestasi zero fatality dengan jumlah manhour yang dicapai oleh Perseroan Grup mencapai 40 juta manhours. Perseroan tetap konsisten dengan sigap dan aktif meningkatkan kepeduliannya terhadap implementasi HSSE sebagai budaya kerja setiap insan Perseroan.

Dalam pandangan Dewan Komisaris, Direksi telah melaksanakan tugasnya dengan baik. Dewan Komisaris menilai bahwa Direksi memiliki sinergi yang kuat baik dengan pemegang saham utama maupun para pihak terkait lainnya sehingga target Perseroan dapat dicapai dengan optimal. Strategi yang diterapkan dalam mengantisipasi perkembangan industri migas maupun makro ekonomi senantiasa dapat dieksekusi dengan apik. Meskipun seiring berjalannya waktu tantangan yang muncul di sepanjang tahun senantiasa berubah, hal ini mampu disikapi dengan baik oleh Direksi dengan merumuskan dan menerapkan terobosan yang tepat sasaran.

PENGAWASAN TERHADAPIMPLEMENTASI STRATEGI DIREKSIDewan Komisaris senantiasa memberikan perhatian penting pada pengawasan pelaksanaan strategi yang disusun oleh Direksi. Hal ini sejalan dengan peran Dewan Komisaris untuk memastikan bahwa pelaksanaan strategi Perseroan berada di jalur yang tepat tanpa mengesampingkan kepatuhan terhadap peraturan yang berlaku. Kewenangan Dewan Komisaris dalam melakukan pengawasan atas aktivitas operasional Perseroan didasarkan pada Undang-Undang, Anggaran Dasar, Board Manual, Code of Conduct GCG serta pedoman kerja yang dimiliki Perseroan. Fungsi pengawasan juga dilakukan melalui Komite-Komite di bawah Dewan Komisaris yakni Komite Audit, Komite Manajemen Risiko, serta Komite Nominasi dan Remunerasi. Di setiap komite ditempatkan minimal satu Komisaris.

Dalam menyikapi kondisi industri migas yang masih dinamis sepanjang tahun 2019, Dewan Komisaris memberikan apresiasi atas langkah-langkah strategis yang dijalankan oleh Direksi. Strategi balancing portofolio, pelayanan total solution dengan mengedepankan sinergi antar Anak Perusahaan maupun strategi productivity and asset optimization dinilai baik oleh Dewan Komisaris karena mampu meningkatkan efisiensi operasional dan pengelolaan risiko yang cukup efektif.

Atas dasar ini selama tahun 2019, Dewan Komisaris telah berupaya sebaik-baiknya untuk memastikan pengawasan terhadap strategi tersebut agar dapat berjalan dengan baik. Secara berkala, Dewan Komisaris menghadiri Rapat Gabungan Dewan Komisaris dan Direksi dengan agenda pemaparan informasi terkait kinerja Perseroan. Dewan Komisaris dalam beberapa kesempatan juga melakukan kunjungan faktual ke Anak Perusahaan sebagai upaya verifikasi secara langsung atas laporan yang dipaparkan Direksi secara holistik. Pada khususnya, fungsi pengawasan Dewan

HSSE is one of the main aspects of the Company's business processes. Every procedure and stages of work in all of the Company's activities are carried out in accordance with applicable HSSE rules and guidelines. In 2019, the number of manhours achieved by the Company reached 40 million manhours. However, this achievement is not excellent yet because the lagging indicator of HSSE increased compared to last year. The Company remains consistent and actively raises awareness of the implementation of HSSE as the work culture of every employee of the Company.

From the view of the Board of Commissioners, the Board of Directors has carried out its duties very well. The Board of Commissioners considers that the Board of Directors has a strong synergy with both major shareholders and other related parties so the Company's targets can be achieved optimally. The strategies implemented in anticipating the development of the oil and gas industry and the macro economy can always be executed very well. Although over time the challenges that arise throughout the year are constantly changing, the Directors able to hande it well by formulating and implementing the right strategies.

SUPERVISION OF BOARD OF DIRECTORSSTRATEGY IMPLEMENTATIONThe Board of Commissioners always pays high attention to overseeing the implementation of the strategies prepared by the Directors. This is in line with the role of the Board of Commissioners to ensure that the implementation of the Company's strategy is on the right track without prejudice to compliance with applicable regulations. The Board of Commissioners has the authority to supervise the Company's operational activities, and it's always based on the Law, Articles of Association, Board Manual, GCG Code of Conduct and work guidelines owned by the Company. The oversight function was also carried out through Committees under the Board of Commissioners, namely, the Audit Committee, the Risk Management Committee and the Nomination and Remuneration Committee. At least one Commissioner is assigned to each committee.

In response to the dynamic condition of oil and gas industry throughout 2019, the Board of Commissioners appreciates the strategic steps that has been carried out by the Board of Directors. The strategy of total solution service which emphasizes synergy among subsidiaries, as well as the productivity and asset optimization was assessed positive by the Board of Commissioners as it adequately improves operational efficiency and effective risk management.

Based on this basis, throughout 2019, the Board of Commissioners has done its best to ensure that the oversight of this strategy can run well. Periodically, the Board of Commissioners attends Joint Meetings of the Board of Commissioners and Directors with the agenda of disclosing information related to the Company's performance. The Board of Commissioners on several occasions also made factual visits to the Subsidiaries as an effort to directly verify the reports presented by the Directors holistically. In particular, the supervisory function of the Board


Komisaris senantiasa ditingkatkan secara signifikan. Dalam praktiknya, Dewan Komisaris juga berupaya menjaga komunikasi yang intensif dengan Direksi agar pengawasan terhadap aspek HSSE, keuangan maupun operasional dapat berjalan lebih terfokus dan terencana.

Berdasarkan pencapaian yang diraih pada tahun 2019, Dewan Komisaris menilai Direksi telah melakukan strategi usaha yang tepat dan sesuai dengan yang telah ditetapkan dalam rencana Perseroan.

PEMBERIAN ARAHAN KEPADA DIREKSIPencapaian kinerja Perseroan tahun 2019 juga merupakan kontribusi pengawasan Dewan Komisaris dan keputusan-keputusan strategis yang diambil oleh Dewan Komisaris. Sesuai Anggaran Dasar, tidak semua keputusan dapat dilakukan oleh Direksi namun keputusan yang strategis tetap membutuhkan keputusan Dewan Komisaris dan Rapat Umum Pemegang Saham. Beberapa keputusan yang tidak dapat dilakukan oleh Direksi antara lain penyusunan RKAP dan RJPP Perseroan.

Mekanisme pemberian nasihat dan arahan kepada Direksi diantaranya melalui forum rapat gabungan Dewan Komisaris bersama Direksi yang diselenggarakan secara berkala maupun melalui Komite-Komite di bawah Dewan Komisaris yang menyelenggarakan rapat rutin bersama Manajemen Perseroan. Mekanisme lainnya melalui penerbitan surat yang ditujukan kepada Direksi.

Sepanjang tahun 2019, Dewan Komisaris memberikan nasihat dan arahan kepada Direksi antara lain:1. Perseroan sebagai perusahaan terbuka dalam menjalankan

Perusahaan sedapat mungkin sesuai dengan peraturan dan perundang-undangan yang berlaku serta Tata Kelola Perusahaan yang Baik (Good Corporate Governance).

2. Health, Safety, Security and Environment merupakan aspek mendasar dalam operasional Perseroan. Seluruh entitas Perseroan dari mulai pekerja di lapangan hingga pihak manajemen, serta kontraktor pihak ketiga yang terlibat dengan kegiatan Perseroan diwajibkan mematuhi implementasi HSSE.

3. Transformasi digital yang sudah mulai diinisiasi dari tahun-tahun sebelumnya untuk terus senantiasa dilakukan inovasi berkelanjutan sebagai upaya memberikan nilai tambah bagi para customer Perseroan.

PANDANGAN ATAS PROSPEK USAHA Pasca merebaknya Corona Virus Disease (COVID-19), sebagaimana dikutip dari Rapat Kerja Kementerian Keuangan dan DPR pada awal April 2020 bahwa prospek pertumbuhan ekonomi domestik menurun menjadi 2,3% pada 2020. Dalam masa kedaruratan COVID-19 ini Kementerian Keuangan menyampaikan bahwa outlook pendapatan negara turun 10,0% atau mencapai 78,9% dari pagu APBN, sementara outlook belanja negara meningkat mencapai 102,9% dari pagu APBN. Outlook defisit meningkat ke

of Commissioners is always significantly improved. In practice, the Board of Commissioners also seeks to maintain intensive communication with the Board of Directors so that supervision of the HSSE, financial and operational aspects can be more focused and planned.

Based on all these accomplishments made by the Board of Directors in 2019, the Board of Commissioners views that the Board of Directors has applied the right business strategies in accordance with what has been stipulated in the Company's plan.

PROVIDING GUIDANCE TO BOARD OF DIRECTORSThe achievement of the Company's performance in 2019 is also a contribution of the Board of Commissioners' supervision in making strategic decisions. In accordance with the Articles of Association, not all decisions can be made by the Directors but strategic decisions still require the decisions of the Board of Commissioners and the General Meeting of Shareholders. Some decisions that cannot be made by the Directors include the preparation of the Company's RKAP and RJPP.

The mechanism for providing advice and direction to the Board of Directors is through a joint meeting forum for the Board of Commissioners and the Board of Directors which is held periodically and through Committees under the Board of Commissioners that hold regular meetings with the Company's Management. Another mechanism is through the issuance of letters addressed to the Directors.

Throughout 2019, the Board of Commissioners provided advice and direction to the Directors, including:1. The Company as a publicly listed company, in running the

Company wherever possible is in accordance with applicable laws and regulations as well as Good Corporate Governance..

2. Health, Safety, Security and Environment are fundamental aspects in the Company's operations. All Company entities, from field workers to management, as well as third party contractors who are involved in the Company's activities are required to comply with HSSE implementation.

3. Digital transformation which has been initiated from the previous years to continuously bring out innovation in an effort to provide added value to the Company's customers.

VIEWS ON BUSINESS PROSPECTSAfter the outbreak of Corona Virus Disease (COVID-19), as quoted from the Working Meeting of the Ministry of Finance and the House of Representative of the Republic of Indonesia in early April 2020 that the prospect of domestic economic growth decreased to 2.3% in 2020. In the emergency period of COVID-19, the Ministry of Finance stated that the outlook State revenue fell 10.0% or reached 78.9% of the budget glossary, while the outlook for state spending increased to 102.9% of the budget glossary.



5,07% dari Produk Domestik Bruto (PDB). Prospek ini dipengaruhi oleh dampak langsung dan tidak langsung penurunan ekonomi Tiongkok. Peran ekonomi Tiongkok dalam perekonomian Indonesia yang tidak kecil, khususnya melalui jalur pariwisata, ekspor dan investasi mempengaruhi prakiraan ini. Pengaruh COVID-19 tidak hanya bersumber dari pengaruh langung melalui perekonomian Tiongkok, tetapi juga pengaruh tidak langsung melalui jalur rambatan (spillover effect) ke negara lain dan perekonomian dunia yang secara keseluruhan juga akan melambat.

Prospek perekonomian global dan domestik pada 2020 sangat tergantung pada proses penanganan dan pemulihan ekonomi pasca COVID-19. Risiko berlanjutnya penyebaran COVID-19 dalam jangka waktu lebih lama dan menjangkau wilayah yang lebih luas dapat menyebabkan pertumbuhan PDB dunia dan volume perdagangan dunia yang makin melambat, yang kemudian dapat menurunkan harga komoditas yang lebih dalam. Hal tersebut dapat menyebabkan koreksi terhadap prospek pertumbuhan ekonomi Indonesia menjadi lebih rendah. Dengan semakin terhubungnya jalur perdagangan dan sistem keuangan antar negara saat ini, maka dampak penurunan pertumbuhan global dapat makin cepat tertransmisikan ke negara-negara lainnya. Penanganan yang ditempuh oleh negara-negara terdampak yang tidak efisien dan tidak efektif berisiko menyebabkan prospek pertumbuhan ekonomi global dan domestik menjadi lebih lambat dari prakiraan.

Sementara untuk harga minyak yang anjlok berdampak pada perusahaan minyak yang diprediksi bakal menunda pelaksanaan proyek migas di hulu karena asumsi dalam analisis keekonomian proyek sudah berubah. Dikutip dari keterangan resmi PT Pertamina (Persero) dalam rilis media bahwa kegiatan eksplorasi dan ekploitasi akan diturunkan masing-masing sebesar 35% dan 25%. Namun demikian, PT Pertamina (Persero) tetap akan mempertahankan aktivitas pada sumur yang memberikan konstribusi langsung pada produksi termasuk kegiatan workover yang menjadi tulang punggung untuk mempertahankan level produksi sumur sepanjang memberikan pertimbangan cost and benefit yang baik.

Dengan mempertimbangkan langkah-langkah yang diambil oleh PT Pertamina (Persero) yang merupakan pemegang saham pengendali Perseroan sekaligus sebagai induk perusahaan (holding) BUMN Migas, terutama PT Pertamina (Persero) akan tetap mempertahankan level produksi sumur yang artinya aktivitas jasa untuk menjaga level produksi sumur tersebut tetap dibutuhkan, hal ini menambah peluang bagi Perseroan dalam menghadapi prospek usaha di tahun 2020, terlebih Perseroan didukung dengan pengalaman selama lebih dari 50 tahun.

The deficit outlook increased to 5.07% of Gross Domestic Product (GDP). This prospect is influenced by the direct and indirect effects of the decline in China's economy. China's economy has a big effect on Indonesia's economy, especially through tourism, exports and investment to influence this forecast. The influence of COVID-19 does not only come from direct influence through the China economy, but also indirect effects through the spillover effect to other countries and the world economy as a whole will also slow down.

The global and domestic economic prospects in 2020 are highly dependent on the process of handling and economic recovery after COVID-19. The risk of the continuous spread of COVID-19 over a longer period of time and reaching a wider area can lead to slower world GDP growth and world trade volumes, which can then reduce deeper commodity prices. This could cause a correction to Indonesia's economic growth prospects to be lower. With the increasingly interconnected trade routes and financial systems between countries, the impact of the decline in global growth can be transmitted quickly to other countries. The measures taken by affected countries that are inefficient and ineffective could cause the prospects for global and domestic economic growth to be slower than predicted.

Meanwhile, the decrease of oil prices has affected oil companies which are predicted to delay the upstream oil and gas project implementation because the assumptions in the economic analysis of the project have changed. Quoted from the official statement of PT Pertamina (Persero) in a media release that exploration and exploitation activities will be reduced by 35% and 25%, respectively. However, PT Pertamina (Persero) will continue to maintain activities in wells that contribute directly to production, including workover activities which are the backbone to maintain well production levels as long as cost and benefit can be maintained.

Taking into account the steps taken by PT Pertamina (Persero) which is the controlling shareholder of the Company as well as the holding of Oil and Gas SOE Company, especially PT Pertamina (Persero) will continue to maintain the level of well production, which means service activities to maintain the level of well production is still needed, this adds to the opportunity for the Company to face business prospects in 2020, moreover the Company is supported by more than 50 years of experience.


Dewan Komisaris Perseroan memandang bahwa tahun 2020 akan menjadi tahun yang penuh tantangan bagi Perseroan. Dewan Komisaris berkeyakinan tantangan ini akan mampu dilalui dengan penuh rasa optimisme. Karenanya, tidak hentinya Dewan Komisaris selalu mengingatkan Direksi untuk terus berupaya memberikan hasil terbaik bagi para stakeholders. Dengan inovasi berkelanjutan dan perbaikan metode kerja yang lebih efektif dan efisien serta kompetensi sumber daya manusia yang mumpuni, kami optimis Perseroan memiliki prospek usaha jangka panjang yang menjanjikan serta mampu memberikan imbal jasa yang memuaskan bagi Pemegang Saham dan Para Pemangku Kepentingan lainnya.

PANDANGAN ATAS PENERAPAN TATA KELOLA PERUSAHAAN DAN WHISTLEBLOWING SYSTEMImplementasi tata kelola yang baik merupakan tugas dan tanggung jawab Dewan Komisaris bersama dengan Direksi. Dalam menjalankan tugas dan tanggung jawab tersebut, Dewan Komisaris senantiasa memantau proses untuk mencapai hasil yang diharapkan. Dewan Komisairs bersama dengan Direksi berkomitmen untuk mewujudkan implementasi tata kelola perusahaan yang melebihi ekspektasi (beyond governance). Kami meyakini bahwa penerapan praktik-praktik terbaik GCG akan mendukung tercapainya kinerja Perseroan yang berkelanjutan.

Selaras dengan penerapan GCG, sepanjang pengamatan kami pada tahun 2019 bahwa penerapan sistem pelaporan pelanggaran (Whistleblowing System) di Perseroan juga sudah berjalan cukup baik. Selama tahun 2019 Dewan Komisaris tidak menerima adanya laporan pelanggaran yang terjadi. Hal ini menjadi salah satu indikator bahwa kepatuhan di dalam Perseroan berjalan dengan baik.

PENILAIAN KINERJA KOMITEDI BAWAH DEWAN KOMISARISDalam menjalankan tugas dan tanggung jawab pengawasan, Dewan Komisaris dibantu oleh 3 (tiga) komite di bawah Dewan Komisaris yaitu Komite Audit, Komite Nominasi dan Remunerasi serta Komite Manajemen Risiko. Selama tahun 2019, kami memandang bahwa seluruh komite di bawah Dewan Komisaris telah menunjukkan kinerja yang baik dalam memberikan rekomendasi kepada Dewan Komisaris dan memberikan dukungan penuh sehingga mekanisme pengawasan terhadap Direksi dapat berjalan dengan baik.

Komite Audit dibentuk dalam rangka membantu tugas Dewan Komisaris untuk mendorong diterapkannya tata kelola perusahaan, terbentuknya struktur pengendalian internal yang memadai, meningkatkan kualitas keterbukaan dan pelaporan keuangan, serta mengkaji ruang lingkup, ketepatan, kemandirian

The Company's Board of Commissioners considered that 2020 will challenged the Company greatly. The Board of Commissioners believes this challenge will be overcome with a sense of optimism. Therefore, the Board of Commissioners does not stop reminding the Directors to continue to strive to provide the best results for stakeholders. With continuous innovation and improvement of work methods that are more effective and efficient as well as competent human resources, we are optimistic that the Company has promising long-term business prospects and is able to provide satisfying services for Shareholders and other stakeholders.

VIEWS ON IMPLEMENTATION OF CORPORATE GOVERNANCE AND THE WHISTLEBLOWING SYSTEMThe implementation of good governance is the duty and responsibility of the Board of Commissioners together with the Board of Directors. In carrying out these duties and responsibilities, the Board of Commissioners always monitor the process to achieve the expected results. The Board of Commissioners together with the Board of Directors is committed to realizing the implementation of corporate governance that exceeds expectations (beyond governance). We believe that the implementation of GCG best practices will support the achievement of the Company's sustainable performance.

In line with the implementation of GCG, based on our observation, in 2019 the Company's Whistleblowing System has been carried out quite well. Throughout 2019 the Board of Commissioners did not receive any reports of violations. This was one of the indicators that the compliance within the Company went well.

COMMITTEE PERFORMANCE EVALUATIONUNDER BOARD OF COMMISSIONERSIn carrying out its supervisory functions, the Board of Commissioners is assisted by 3 (three) committees underneath it, namely, the Audit Committee, Nomination and Remuneration Committee, and the Risk Management Committee. Throughout 2019, we view that all committees under the Board of Commissioners have worked well in providing recommendations to the Board of Commissioners and have provided their full support to ensure that the oversight mechanism for the Board of Directors can run well.

The Audit Committee was formed in order to assist the Board of Commissioners' duties to encourage the implementation of corporate governance, the establishment of an adequate internal control structure, improve the quality of financial disclosure and reporting, and assess the scope, accuracy, independence



dan objektivitas akuntan publik. Komite Nominasi dan Remunerasi telah membantu kami antara lain dalam memberikan rekomendasi terkait nominasi dan remunerasi pengurus Perseroan sesuai prinsip-prinsip GCG. Adapun Komite Manajemen Risiko telah berperan penting dalam memberikan pendapat terkait pengelolaan perusahaan yang berhubungan dengan risiko usaha yang berpotensi menimbulkan kerugian signifikan.

Penilaian terhadap kinerja ketiga komite pendukung dilakukan secara kualitatif, meliputi keaktifan komite dalam menjalankan tugasnya, proses dokumentasi, dan rekomendasi yang diberikan. Di sepanjang tahun 2019, Komite Audit melakukan 9 (sembilan) kali rapat, Komite Nominasi dan Remunerasi melakukan 3 (tiga) kali rapat dan Komite Manajemen Risiko melakukan 6 (enam) kali rapat. Dengan seluruh pelaksanaan tugas yang telah dilakukan oleh seluruh anggota komite, izinkan Dewan Komisaris menyampaikan apresiasi dan rasa terima kasihnya kepada seluruh anggota komite di bawah Dewan Komisaris.

PERUBAHAN KOMPOSISI DEWAN KOMISARISSesuai hasil keputusan dalam Rapat Umum Pemegang Saham Tahunan Perseroan tanggal 11 April 2019 terdapat perubahan pada komposisi Dewan Komisaris Perseroan. Perubahan komposisi tersebut sebagai bentuk penyegaran pengurus Perseroan maupun dikarenakan berakhirnya masa jabatan anggota Dewan Komisaris Perseroan.

Kami menyambut kedatangan anggota Dewan Komisaris baru dengan baik yakni Bapak Anis Baridwan selaku Komisaris Independen serta Bapak Antonius Ratdomopurbo sebagai Komisaris Perseroan. Kami berharap dengan bergabungnya anggota baru ke dalam jajaran Dewan Komisaris, maka pengawasan terhadap jalannya Perseroan dapat lebih baik serta memberikan arahan yang semakin baik untuk pertumbuhan Perseroan.

Di sisi lain, kami juga ingin menyampaikan apresiasi kepada Bapak Pradana Ramadhian G. dan Bapak Afdal Martha atas kontribusi yang telah diberikan selama menjabat sebagai anggota Dewan Komisaris.

Dengan demikian per 31 Desember 2019, komposisi Dewan Komisaris Perseroan sebagai berikut:

No. NamaName Jabatan Position

1. Narendra Widjajanto Komisaris Utama President Commissioner2. Lusiaga Levi Susila Komisaris Independen Independent Commissioner3. Anis Baridwan Komisaris Independen Independent Commissioner4. Eman Salman Arief Komisaris Commissioner 5. Antonius Ratdomopurbo Komisaris Commissioner

and objectivity of public accountants. The Nomination and Remuneration Committee has assisted us in providing recommendations related to the nomination and remuneration of the Company's management in accordance with GCG principles. The Risk Management Committee has an important role in providing opinions related to company management related to business risk that has the potential to cause significant losses.

The assessment of the performance of the three supporting committees was carried out qualitatively, including the activeness of the committee in carrying out its duties, the documentation process, and the recommendations given. Throughout 2019, the Audit Committee held 9 (nine) meetings, the Nomination and Remuneration Committee held 3 (three) meetings and the Risk Management Committee held 6 (six) meetings. With all the duties performed by all committee members, please allow the Board of Commissioners to express our appreciation and gratitude to all committee members under the Board of Commissioners.

CHANGES IN BOARD OF COMMISSIONERS COMPOSITIONIn accordance with the results of the decision at the Company's Annual General Meeting of Shareholders on April 11, 2019 there was a change in the composition of the Company's Board of Commissioners. The changes in the composition as a form of refreshing the officials of the Company's management and due to the end of tenure of the Company's Board of Commissioners.

We welcome the arrival of new members of the Board of Commissioners, Mr. Anis Baridwan as Independent Commissioner and Mr. Antonius Ratdomopurbo as Commissioner of the Company. We hope by having new members into the Board of Commissioners, the supervision of the Company's operations will be better and will provide better direction for the Company's growth.

On the other hand, we would also like to express our appreciation to Mr. Pradana Ramadhian G. and Mr. Afdal Martha for the contributions they have made while serving as members of the Board of Commissioners.

As of December 31, 2019, the composition of the Company's Board of Commissioners is as follows:


APRESIASI Kami ingin menyampaikan apresiasi kami kepada pemegang saham dan pemangku kepentingan atas kepercayaan dan dukungan yang diberikan selama ini. Apresiasi dan penghargaan terdalam juga kami tujukan kepada segenap Direksi, jajaran Manajamen dan seluruh karyawan atas kerja keras serta dedikasi dalam upaya pengembangan Perseroan menjadi lebih baik lagi. Tak luput, apresiasi kami sampaikan kepada para pelanggan, mitra bisnis maupun pemangku kepenting lainnya atas dukungan dan kepercayaan kepada Perseroan.

Sebagai penutup, mari kita berusaha dengan maksimal dan berdoa. Semoga segala upaya yang telah dilakukan di tahun 2019 ini maupun tantangan yang menanti pada tahun 2020 dapat dihadapi oleh Perseroan dengan baik. Semoga Perseroan selalu mendapat berkah dan rahmat dari Allah SWT, aamiin.

APPRECIATIONWe would like to express our appreciation to shareholders and stakeholders for their trust and support. Our deep gratitude and appreciation also goes to the Board of Directors, Management and all employees for their hard work and dedication towards making the Company even better. We also extend our gratitude to all shareholders, customers, business partners and other stakeholders for their trust and support in the Company.

To conclude this report, let's try our best and pray. Hopefully all the efforts that have been made in 2019 and the challenges that await in 2020 can be overcome by the Company. We hope the Company will always receive the blessing and grace from Allah SWT, aameen.

Jakarta, Juni | June 15, 2020

Atas nama Dewan KomisarisOn behalf of the Board of Commissioners,

Narendra WidjajantoKomisaris Utama

President Commissioner


1

3

4

2

1 Elizar Parlindungan Hasibuan

Direktur UtamaPresident Director

2 Hery Setiawan Direktur KeuanganDirector of Finance

3 Arief Riyanto

Direktur Pengembangan Usaha merangkap Direktur Operasi Director of Business Development concurrently as Director of Operation

4 R.M. Happy Paringhadi Direktur SDM & Umum Director of HR & General Affair



LAPORAN DIREKSIBOARD OF DIRECTORS REPORT

Direktur Utama/President Director

Elizar Parlindungan Hasibuan


Pemegang Saham dan Pemangku Kepentingan yang terhormat,

Dengan memanjatkan puji dan syukur kehadirat Tuhan Yang Maha Esa, ijinkan kami mewakili segenap manajemen PT Elnusa Tbk. untuk menyampaikan Laporan Tahunan tahun buku 2019 sebagai bentuk pertanggungjawaban kepada para Pemegang Saham dan seluruh Pemangku Kepentingan lainnya.

Pencapaian usaha Perseroan di tahun 2019, seperti yang tertuang dalam laporan tahunan ini, merupakan gambaran dari upaya-upaya inisiasi strategis yang telah dilakukan manajemen, yang diharapkan mampu memberikan dampak yang positif terhadap kinerja Elnusa secara berkelanjutan. Selanjutnya perkenankanlah kami selaku Direksi Elnusa untuk menyampaikan pengelolaan Perseroan di tahun buku 2019.

PERSPEKTIF MAKRO EKONOMI DAN KEBIJAKAN STRATEGIS MANAJEMEN Pertumbuhan ekonomi Indonesia tetap memiliki daya tahan di tengah kinerja perekonomian dunia yang melambat. Seperti dikutip dari Bank Indonesia, pertumbuhan ekonomi keseluruhan tahun 2019 masih terjaga dengan baik yaitu di angka 5,02%, meskipun lebih rendah dibandingkan dengan capaian tahun 2018 yaitu sebesar 5,17%. Pertumbuhan ekonomi tersebut ditopang oleh permintaan domestik yang tetap baik sedangkan kinerja ekspor menurun. Perkembangan keseluruhan tahun 2019 dicapai setelah pada triwulan IV 2019 pertumbuhan ekonomi tercatat 4,97% (yoy), sedikit melambat dibandingkan dengan pertumbuhan triwulan sebelumnya sebesar 5,02% (yoy).

Laba Bersih Konsolidasi Elnusa pada tahun 2019 tercatat sebesar Rp356 miliar, tumbuh signifikan atau naik sebesar 29% jika dibandingkan dengan pencapaian tahun sebelumnya yang tercatat sebesar Rp276 miliar.

Elnusa’s Consolidated Net Profit in 2019 was recorded at Rp356 billion, a drastic increase of 29% when compared to the achievement of the previous year which was recorded at Rp276 billion.

Dear Shareholders and Stakeholders,

With praise and gratitude to God Almighty, allow us, the Board of Directors to represent all the management of PT Elnusa Tbk. to submit the Annual Report for the 2019 fiscal year as a form of accountability to Shareholders and all other Stakeholders.

The Company's achievement in 2019, as stated in this annual report, is the result of the strategic efforts that has been put in by management, which are expected to have a positive impact on Elnusa's performance in a sustainable manner. Furthermore, allow us as Elnusa's Board of Directors to submit the management of the Company in fiscal year 2019.

MACROECONOMIC PERSPECTIVES ANDSTRATEGIC MANAGEMENT POLICYIndonesia's economic still maintain its growth amidst the slowing performance of the world economy. As quoted from Bank Indonesia, overall economic growth in 2019 is still well-maintained at 5.02%, although it is lower than the 2018 achievements of 5.17%. The economic growth was due to the improvement in domestic demand while the export performance declined. The economic developments in 2019 were achieved in the fourth quarter of 2019, and the economic growth was recorded at 4.97% (yoy), it slightly slowing down compared to the previous quarter's growth of 5.02% (yoy).



Pertumbuhan ekonomi 2019 banyak ditopang oleh permintaan domestik yang tetap terjaga sedangkan ekspor menurun sejalan dengan melambatnya permintaan global dan menurunnya harga komoditas termasuk diantaranya harga minyak.

Perjalanan iklim usaha Perseroan sepanjang tahun 2019 memang dihadapkan dengan berbagai tantangan. Setidaknya ada empat tantangan besar yang telah dan masih akan dihadapi oleh Elnusa, manajemen telah merancang kebijakan strategis menyingkapi hal tersebut, sebagai berikut:

Fluktuasi Harga Migas dan Jasa Penunjang MigasBloomberg mencatat harga minyak dunia 2019 berada pada kisaran USD45-65/bbl. Kisaran ini tidak lebih baik dari tahun 2018. Walaupun mengalami peningkatan dibandingkan awal 2016 yang berkisar USD40/bbl, harga jasa usaha penunjang hulu migas belum sepenuhnya pulih seperti sedia kala. Hingga masih menjadi tantangan untuk mendapatkan keseimbangan harga yang wajar untuk dapat bertahan dan bertumbuh.

Mature Field sebagai Klien UtamaPeralihan blok terminasi ke Pertamina memberikan peluang baru bagi Elnusa. Namun blok maupun sumur ini, umumnya berusia tua. Laju penurunan produksi migasnya relatif tinggi dan membutuhkan teknologi pengelolaan lapangan yang tepat guna namun tetap ekonomis. Elnusa dituntut untuk memberikan solusi jasa perawatan sumur yang semakin advanced dan excellent.

High Risk Investment & OperationInvestasi untuk mempertahankan kapabilitas dan kapasitas harus tetap dilakukan secara hati-hati dan dengan perhitungan keekonomian yang terbaik bagi perusahaan.

Industrialisasi 4.0Elnusa dituntut untuk menghasilkan jasa yang bukan sekedar lebih baik dari sebelumnya, namun lebih baik dari lainnya. Transformasi digital yang telah dilakukan bukan hanya diharapkan untuk digitalisasi data dan proses bisnis internal, melainkan juga untuk menerapkan digital enhancement dengan para stakeholder sehingga dapat menghasilkan percepatan, akurasi, dan kualitas dalam hal perencanaan dan pelaksanaan setiap pekerjaan.

Semua tantangan di atas telah berhasil dilalui Elnusa dengan pencapaian yang gemilang. Strategi diversifikasi portofolio yang menjadi kunci utama peningkatan kinerja sejak tiga tahun terakhir, telah menguatkan Elnusa kembali sebagai entitas maupun keluarga besar. Kinerja segmen jasa distribusi dan logistik energi tetap kokoh, jasa hulu migas semakin membaik dan jasa penunjang membuat Elnusa utuh sebagai perusahaan jasa energi yang memberikan solusi total.

KINERJA USAHA DAN PEMENUHAN TARGET RKAPSepanjang tahun 2019 iklim usaha nasional memang dipenuhi dengan berbagai tantangan. Namun hal itu tak menyurutkan kinerja usaha Elnusa yang senantiasa bergerak positif. Segenap manajemen berhasil menerapkan strategi dan inisiatif yang tepat sehingga Perseroan berhasil membukukan pencapaian gemilang dan berkelanjutan.

Economic growth in 2019 is largely supported by maintained domestic demand while exports decline in line with slowing global demand and falling commodity prices including oil prices.

The journey of the Company's business throughout 2019 faced various challenges. At least there are four major challenges that have been and will still be faced by Elnusa, and the management has designed a strategic policy to face these challenges, as follows:

Oil and Gas Price Fluctuations and Oil and Gas Support ServicesBloomberg recorded that the world oil price in 2019 was in the range of USD 45-65/bbl. This range was no better than 2018. Although it has increased compared to the beginning of 2016 which was around USD40/bbl, the price of upstream oil and gas supporting services has not recovered and it is still a challenge to obtain a fair price in order to survive and grow..

Mature Field as Main ClientThe transition of the termination block to Pertamina provides a new opportunity for Elnusa. However, these blocks and wells are generally old. The declining rate of this oil and gas production is relatively high and requires appropriate field management technology, although it is not expensive. Elnusa is required to povide the well care service that is getting more advance and excellent.

High Risk Investment & OperationThe type of investment that is intended to maintain capabilities and capacity must be carried out carefully and with the best economic calculation for the company.

Industrialization 4.0Elnusa is required to provide services that are not just better than before, but better than others. The digital transformation that has been carried out is not only to digitize data and internal business processes, but also to implement digital enhancement with stakeholders so that it can produce acceleration, accuracy, and quality in terms of planning and implementing each work.

Elnusa has successfully solved all the above challenges with brilliant achievements. The portfolio diversification strategy, which has been the key to improving performance over the past three years, has strengthened Elnusa as an entity and extended family. The performance of the energy distribution and logistics services segment remains strong, upstream oil and gas services are improving and the supporting services make Elnusa complete as an energy service company that provides a total solution.

BUSINESS PERFORMANCE AND RKAP TARGETS FULFILLMENTThroughout 2019, the national business climate is indeed filled with various challenges. But that did not reduce Elnusa's business performance which was always moving positively. All management has successfully implemented the right strategies and initiatives, and with those strategies the Company has managed to record brilliant and sustainable achievements.


Dalam penetapan RKAP, Elnusa senantiasa memperkuat fondasi bisnis melalui transformasi usaha dengan mengimplementasikan kebijakan strategis yang tepat sasaran. Di tahun 2019, Elnusa merencanakan perolehan dari beberapa komponen substansial sebagai tolak ukur dalam menilai kinerja Perseroan. Perbandingan antara rencana dan realisasi adalah sebagai berikut:

Pendapatan UsahaPada tahun 2019, Pendapatan Usaha Konsolidasi Elnusa tercatat tumbuh sebesar 27% atau Rp8,4 triliun jika dibandingkan dengan pencapaian tahun sebelumnya yang tercatat sebesar Rp6,6 triliun. Capaian ini merupakan rekor tertinggi semenjak Elnusa didirikan. Capaian ini 11% lebih tinggi dari RKAP yang telah dicanangkan di awal tahun. Pertumbuhan tersebut dikarenakan peningkatan pendapatan di seluruh segmen, baik segmen jasa hulu pada bisnis POMS maupun GSC, Jasa Logistik dan Distribusi energi serta segmen Penunjang.

Marjin Laba BersihElnusa telah berhasil memperbaiki pencapaian Marjin Laba Bersih Konsolidasi di tahun 2019. Jika pada 2018 Perseroan membukukan angka 4,2%, namun pada tahun 2019 Elnusa berhasil melakukan peningkatan menjadi 4,3%. Peningkatan tersebut dikarenakan peningkatan signifikan kinerja pendapatan Perseroan.

Laba Bersih KonsolidasiLaba Bersih Konsolidasi Elnusa pada tahun 2019 tercatat sebesar Rp356 miliar. Pencapaian tersebut mengalami pertumbuhan yang signifikan atau naik sebesar 29% jika dibandingkan dengan pencapaian tahun sebelumnya yang tercatat sebesar Rp276 miliar. Realisasi Laba Bersih Perseroan di tahun 2019 mencapai 1% dari RKAP tahun 2019 sebesar Rp353 milyar. Kontribusi kenaikan Laba Bersih tersebut terutama disumbangkan oleh segmen Jasa Logistik dan Distribusi Energi.

Kas BersihPada tahun 2019, Kas Bersih Perseroan yang dihasilkan dari kegiatan operasi mencapai Rp576 miliar, dengan kas dan setara kas mencapai Rp856 miliar. Realisasi Kas Bersih Perseroan di tahun 2019 mencapai 81% dari RKAP tahun 2019 yang hanya sebesar Rp473 miliar.

Sementara itu, dari sisi kinerja HSSE, tahun 2019 merupakan pencapaian kinerja HSSE terbaik sepanjang empat tahun terakhir. Hal ini dikarenakan Zero Fatality & Lost Time Injury (LTI) berhasil dicapai. Jumlah jam kerja pun mencapai hampir 41 juta.

Prestasi Elnusa yang ditorehkan pada tahun 2019 pun membuahkan pengakuan dari berbagai pihak. Wujud pengakuan tersebut tercermin dari beberapa penghargaan bergengsi yang berhasil diraih Elnusa, diantaranya; 6 penghargaan Mahakam Award untuk yang ke-8 kalinya, 3 penghargaan Top Digital, 9 penghargaan Forum Hulu Pertamina, 1 penghargaan jasa HWU Pertamina Geothermal Energy, 1 penghargaan Industry Marketing Champion untuk Elnusa Petrofin, dan 1 penghargaan Ditjen Perhubungan Darat untuk Elnusa Petrofin.

In determining the RKAP, Elnusa continues to strengthen the business foundation through business transformation by implementing the right strategic policies. In 2019, Elnusa plans to acquire a number of substantial components as a benchmark in assessing the performance of the Company. The comparison between plans and realization is as follows:

Business RevenueIn 2019, Elnusa's Consolidated Operating Revenues recorded growth of 24% or Rp8.4 trillion compared with the previous year's achievement of Rp6.6 trillion. This achievement is the highest record since Elnusa was established. This achievement was 11% higher than the RKAP that had been planned at the beginning of the year. The growth was due to an increase in revenue across all segments, both the upstream service segment in the POMS and GSC business, Logistics Services and energy distribution and the Support segment.

Net Profit MarginElnusa has succeeded in improving the achievement of the Consolidated Net Profit Margin in 2019. While in 2018 the Company recorded 4.2%, in 2019 Elnusa managed to increase to 4.3%. The increase was due to a significant increase in the Company's revenue performance.

Consolidated Net IncomeConsolidated Net Profit of Elnusa in 2019 was recorded at Rp356 billion. This achievement had a significant growth or an increase of 29% compared to the achievement of the previous year which was recorded at Rp276 billion. The realization of the Company's Net Profit in 2019 reached 1% from the Work plan and Budget of the Company (RKAP) for 2019 of Rp353 billion. Contributions to the increase in Net Profit were mainly contributed by the Logistics Services and Energy Distribution segments.

Net CashIn 2019, the Company's Net Cash generated from operating activities reached Rp576 billion, with cash and cash equivalents reaching Rp856 billion. The realization of the Company's Net Cash in 2019 reached 81% of the RKAP 2019 which was only Rp473 billion.

Meanwhile, in terms of HSSE performance, 2019 was the best achievement of HSSE performance in the last four years. This was because the Company managed to achieve Zero Fatality & Zero Lost Time Injury (LTI). And the number of working hours reached almost 41 million hours.

Elnusa's achievement in 2019 also led to recognition from various parties. The recognition is reflected in several prestigious awards, including; 6 Mahakam Awards for the 8th time, 3 Top Digital Awards, 9 Pertamina Upstream Forum Awards, 1 Pertamina Geothermal Energy HWU service Award, 1 Industry Marketing Champion Award for Elnusa Petrofin, and 1 Director General of Land Transportation Award for Elnusa Petrofin.



ELNUSA MENJAWAB TANTANGANDAN PELUANG KE DEPANDapat kami sampaikan bahwa Elnusa telah menyusun Rencana Jangka Panjang Perusahaan kedepan dan menetapkan berbagai inisiasi strategis demi menggapai pertumbuhan usaha yang positif dan berkelanjutan.

Komitmen untuk senantiasa memberikan hasil yang terbaik tersebut tentu tak lepas dari berbagai tantangan usaha. Beberapa tantangan yang dihadapi di antaranya sebagai berikut:

Sinergi dan Penyelarasan Bisnis Anak Usaha PertaminaTantangan ini merupakan momen pembuktian Elnusa untuk menunjukkan keunggulan solusi total yang dimiliki. Dengan motto better, faster, safer, dan cheaper, Elnusa diharapkan akan tampil sebagai pemimpin dalam setiap jenis usaha di segmennya, serta mendapatkan kepercayaan dari pasar terutama shareholders untuk menyukseskan proyek-proyek penting yang ada.

Memperbesar Pangsa Pasar Luar NegeriManajemen akan senantiasa menguatkan dan melakukan optimalisasi atas prestasinya yang telah melakukan perluasan pangsa pasar di luar negeri. Hal ini ditopang oleh kompetensi dan pengalaman panjang yang dimiliki Elnusa sebagai fondasi utama.

Memperkuat Kapabilitas serta KapasitasInvestasi terpilih akan senantiasa dijalankan untuk meningkatkan kapabilitas dan kapasitas Elnusa. Namun hal penting lain yang akan dilakukan adalah melakukan kolaborasi dengan berbagai pihak, terutama dengan penyedia teknologi unggul sebagai jawaban jangka waktu pendek bagi para klien utama.

Kemampuan Human CapitalPerseroan juga memberikan perhatian khusus kepada kualitas Sumber Daya Manusia yang merupakan salah satu aset unggul Elnusa dalam menggapai hasil optimal. Hal tersebut diwujudkan dengan komitmen Perseroan terhadap semua insan Elnusa untuk secara aktif meningkatkan kemampuannya baik melalui pendidikan akademis maupun keahlian sesuai dengan bidang yang dimiliki dan tuntutan pasar.

Berbagai strategi menjawab tantangan tersebut merupakan upaya Perseroan dalam meraih peluang ke depannya. Inisiasi strategis tersebut diharapkan memberikan dampak yang positif bagi iklim usaha Perseroan. Hal ini selaras dengan komitmen segenap insan Elnusa untuk memastikan bahwa Key Performance Indicator (KPI) yang telah ditetapkan dapat terealisasi sesuai atau bahkan melampaui target. Sementara itu, segenap manajemen akan selalu berjibaku guna merancang strategi dan kebijakan strategis untuk menggapai hasil yang lebih baik dari yang sebelumnya.

ELNUSA RESPONDS TO CHALLENGESAND OPPORTUNITIES FOR THE FUTUREWe can say that Elnusa has prepared long-term business plan going ahead and established various strategic initiatives in order to foster positive and sustainable business growth.

The commitment to always provide the best results is certainly not free from various business challenges. Some of the challenges faced include the following:

Synergy and Alignment of Pertamina's Subsidiary BusinessThis challenge is an opportunity for Elnusa to prove the superiority of its total solutions. With the motto of better, faster, safer and cheaper, Elnusa is expected to appear as a leader in every type of business in its segment, and gain the trust of the market, especially shareholders, to successfully complete important projects.

Expand Foreign Market ShareManagement will always strengthen and optimize its achievements of expanding the market share abroad. This is supported by the competence and long experience by Elnusa as the main foundation.

Strengthening Capability and CapacityExisting investments will be continually carried out to improve the capability and capacity of Elnusa. But another important thing to do is to collaborate with various parties, especially with leading technology providers as a short-term answer for the main clients.

Human Capital CapabilityThe Company also pays special attention to the quality of Human Resources, which is one of Elnusa's superior assets in achieving optimal results. This was realized by the Company's commitment to all of Elnusa's personnel to actively improve their abilities both through academic education and through sharpening their skills in accordance with their fields and market demands.

To seize the opportunities in the future the Company face those challenges through various strategies. The strategic initiation is expected to have a positive impact on the Company's business. This is in line with the commitment of all Elnusa personnel to ensure that the Key Performance Indicator (KPI) that has been set can be realized according to or even exceeding the target. Meanwhile, all management will always strive to design strategic strategies and policies to achieve better results than the previous one.


ANALISIS TENTANG PROSPEK USAHABerdasarkan data yang dirilis oleh Bank indonesia awal tahun ini, pertumbuhan ekonomi Indonesia ke depannya diperkirakan tetap baik ditopang prospek peningkatan ekspor dan konsumsi rumah tangga. Investasi diperkirakan juga meningkat didorong pembangunan infrastruktur serta kenaikan keyakinan pelaku usaha sebagai dampak peningkatan ekspor dan kemudahan iklim berusaha sejalan dengan kebijakan Pemerintah.

Namun, mencermati kondisi perekonomian Indonesia khususnya sebagai dampak penyebaran COVID-19, berdasarkan Survei Pemantauan Harga (SPH) yang dilakukan oleh Bank Indonesia dengan 46 Kantor Perwakilan Bank Indonesia di daerah, menunjukan bahwa harga-harga di pasar terkendali dan rendah. Pemantauan harga pada minggu kedua April 2020 menunjukkan inflasi akan berada di sekitar 0,20% (mtm) atau 2,80% (yoy). Hal tersebut dipengaruhi oleh beberapa faktor, yaitu:1. Koordinasi antara pemerintah pusat dan pemerintah

daerah melalui TPI/TPID dalam memastikan terpenuhinya kebutuhan pokok.

2. Tingkat pertumbuhan ekonomi Indonesia akan lebih rendah dari kemampuan kapasitas produksi nasional sehingga mengalami kesenjangan output yang negatif sehingga tekanan inflasi dari sisi permintaan terkendali.

3. Dampak dari nilai tukar Rupiah terhadap inflasi rendah.4. Terjangkarnya ekspektasi inflasi baik di sisi konsumen dan

produsen.

Niai tukar rupiah diharapkan cenderung menguat hingga akhir tahun 2020 pada level Rp15.000 per dolar AS. Penguatan nilai tukar Rupiah didukung oleh langkah-langkah stabilisasi nilai tukar, komitmen kebijakan yang erat serta komunikasi yang intensif antara pemerintah, BI, OJK, dan LPS. Selain itu, mekanisme pasar telah berjalan baik. Ke depan, Bank Indonesia akan terus berada di pasar dan melakukan langkah-langkah intervensi yang diperlukan untuk menjaga stabilitas nilai tukar.

Sementara itu, cadangan devisa per Maret 2020 tetap terjaga. Posisi cadangan devisa Indonesia pada akhir Maret 2020 tercatat sebesar 121,0 miliar dolar AS, lebih rendah dibandingkan dengan posisi akhir Februari 2020 sebesar 130,4 miliar dolar AS. Penurunan cadangan devisa pada Maret 2020 antara lain dipengaruhi oleh pembayaran utang luar negeri Pemerintah sekitar 2 miliar dolar AS dan keperluan stabilisasi nilai tukar Rupiah sekitar 7 miliar dolar AS di tengah kondisi “extraordinary” karena kepanikan di pasar keuangan global dipicu pandemi COVID-19 yang secara cepat dan meluas ke seluruh dunia.

Berkaca dari fenomena tersebut, segenap manajemen Elnusa senantiasa melakukan mitigasi usaha demi keberlanjutan usaha demi meraih hasil yang optimal. Perseroan telah melakukan penjajakan terhadap peluang-peluang usaha baru. Bahkan, beberapa peluang yang telah berhasil direalisasikan adalah sebagai berikut:

BUSINESS PROSPECTS ANALYSISBased on data released by Bank Indonesia earlier this year, Indonesia's economic growth in the future is expected to remain well supported by the prospect of increased exports and household consumption. Investment is also expected to increase driven by infrastructure development and an increase in business confidence as a result of increased exports and ease of climate in line with Government policy.

However, observing the condition of Indonesian economy in particular as a result of the spread of COVID-19, based on the Price Monitoring Survey (SPH) conducted by Bank Indonesia with 46 Bank Indonesia Regional Representative Offices, shows that prices in the market are controlled and low. Price monitoring in the second week of April 2020 shows inflation will be around 0.20% (mtm) or 2.80% (yoy). This is influenced by several factors, namely:1. Coordination between the central government and regional

governments through TPI/TPID in ensuring basic needs are met.

2. Indonesia's economic growth rate will be lower than the capacity of national production capacity so that it experiences a negative output gap so that inflationary pressures from the demand side are controlled.

3. The impact of Rupiah exchange rate on low inflation.4. Inflation expectations have been secured on both the

consumer and producer sides.

Value of Rupiah is expected to strengthen until the end of 2020 at the level of Rp. 15,000 per US dollar. The strengthening of the Rupiah exchange rate is supported by measures to stabilize the exchange rate, close policy commitments and intensive communication between the government, BI, OJK, and LPS. In addition, the market mechanism has gone well. Going forward, Bank Indonesia will continue to be in the market and take the necessary intervention steps to maintain exchange rate stability.

Meanwhile, foreign exchange reserves as of March 2020 were maintained. Indonesia's foreign exchange reserves at the end of March 2020 stood at 121.0 billion US dollars, lower than the position at the end of February 2020 of 130.4 billion US dollars. The decline in foreign exchange reserves in March 2020 was partly influenced by the payment of the Government's foreign debt of around US $2 billion and the need for stabilizing the Rupiah exchange rate of around US $7 billion amid "extraordinary" conditions because of panic on global financial markets triggered by the quick and extensive spread of COVID-19 pandemic throughout the world.

Reflecting on this phenomenon, all of Elnusa's management always carry out business mitigation for the sake of business sustainability in order to achieve optimal results. The Company has explored new business opportunities. In fact, some of the opportunities that have been successfully realized are as follows:



Jasa Hulu Migas1. Perluasan embrio pangsa pasar baru melalui lini Geoscience

& Reservoir Services (GRS) di Vietnam, India maupun Algeria. Penjajakan lain seperti di Kuwait, UAE, Qatar, maupun lainnya, masih dalam inisiasi. Namun segenap manajemen optimis, bahwa Elnusa akan dapat merealisasikannya.

2. Jasa survei seismik untuk Komitmen Kerja Pasti (KKP) Jambi Merang dengan menggunakan Elsa Regent di wilayah terbuka Indonesia telah dimulai. Begitu pula peluang melalui multiklien seismik. Salah satu upayanya adalah melakukan Master Cooperation Agreement dengan TGS-NOPEC.

3. Ekspansi bisnis lini Production, Operation & Maintenance Services (POMS), pada operation & maintenance untuk kilang-kilang telah juga dimulai.

4. Upaya penguatan kompetensi, kapabilitas serta kapasitas pun telah pula diinisiasi. Bersama Schlumberger, Elnusa akan melakukan berbagai Master Services Agreement untuk saling memperkuat satu sama lain.

Jasa Distribusi dan Logistik Energi1. Pengelolaan terminal BBM berbasis aset telah mulai

dilakukan. Depot LPG Amurang, Sulawesi Utara, merupakan yang pertama. Ke depan, melalui Elnusa Petrofin, dengan kepercayaan yang diberikan Pertamina akan dilanjutkan akuisisi infrastruktur untuk mendukung distribusi energi di Nusantara ini.

2. Elnusa akan melakukan Ekspansi pada bisnis chemical untuk mendukung EOR injeksi polymer di Field Tanjung, Kabupaten Tabalong, Kalimantan Selatan.

Jasa Penunjang1. Penguatan kompetensi fabrikasi beberapa peralatan maupun

fasilitas migas telah mendukung penguatan kompetensi Elnusa.

2. Penjajakan lain adalah bisnis water treatment untuk beberapa fasilitas di beberapa tempat. Bisnis ini juga dilengkapi dengan value digital Smart Water Meter dan Smart Power Meter yang tengah diujikan di PDAM Kota Tirta Benteng, Tangerang.

3. Penjajakan bisnis energi terbarukan melalui riset terbatas yang dilakukan secara practical research

Segenap Direksi dan jajaran manajemen juga senantiasa mengakomodir arahan Dewan Komisaris agar iklim usaha Elnusa berjalan harmonis dengan komitmen Perseroan yang selalu berusaha untuk memberikan manfaat secara berkelanjutan bagi para stakeholders dan shareholders.

Upstream Oil and Gas Services1. The expansion of new market share through the field of

Geoscience & Reservoir Services (GRS) in Vietnam, India and Algeria. Other explorations such as in Kuwait, UAE, Qatar, and others, are still being initiated. However, all management is optimistic that Elnusa will be able to realize it.

2. Seismic survey services for the Jambi Merang Definite Work Commitment (KKP) using Elsa Regent in open areas in Indonesia have begun. Likewise the opportunities through multi-client seismic. One of the efforts is to do Master Cooperation Agreement with TGS-NOPEC.

3. The expansion in Production, Operation & Maintenance Services (POMS) business line, the expansion in Operations & Maintenance for refineries have also begun.

4. The efforts to strengthen competency, capability and capacity have also been initiated. Together with Schlumberger, Elnusa will carry out various Master Services Agreements to strengthen one another.

Energy Logistics and Distribution Services1. Asset-based fuel terminal management has begun. Amurang

LPG Depot, North Sulawesi, is the first. In the future, through Elnusa Petrofin, with full support from Pertamina, will continue the acquisition of infrastructure to provide energy distribution in the archipelago.

2. Elnusa will expand its chemical business to support polymer injection EOR in Tanjung Field, Tabalong Regency, South Kalimantan.

Supporting Services1. The strength of Elnusa's business competency is supported

by its strong fabrication of some equipments and by providing some oil and gas facilities.

2. Another assessment is the water treatment business for several facilities in several places. This business is also equipped with a digital value Smart Water Meter and Smart Power Meter that is being tested in PDAM Tirta Benteng City, Tangerang.

3. Exploration of the renewable energy business through limited research carried out in practical research.

The entire Board of Directors and management always accommodates the direction from the Board of Commissioners so that the business climate of Elnusa runs in harmony with the Company's commitment which is always strive to provide sustainable benefits for stakeholders and shareholders.


PERKEMBANGAN PENERAPAN TATA KELOLA PERUSAHAAN DI TAHUN 2019Sebagai Perusahaan Publik yang tercatat di Bursa Efek Indonesia (BEI), Perseroan berkomitmen secara penuh untuk menerapkan prinsip-prinsip GCG sebagai landasan dalam menciptakan nilai tambah yang berkelanjutan bagi kepentingan para pemegang saham, masyarakat secara luas, dan berbagai pemangku kepentingan lainnya (pegawai, konsumen, regulator, mitra kerja, dan lain-lain) baik dalam jangka pendek maupun jangka panjang.

Tata Kelola yang dijalankan Perseroan didasari oleh prinsip- prinsip GCG, yaitu Transparency, Accountability, Responsibility, Independency, dan Fairness yang merupakan komitmen kuat bagi Perseroan untuk selalu menjaga dan meningkatkan nilai Perusahaan (corporate value), mendorong pengelolaan Perusahaan yang profesional, transparan dan efisien sehingga fundamental dan daya saing Perseroan semakin kuat dan terjaga dengan baik.

Perseroan memiliki komitmen untuk selalu menerapkan standar tata kelola yang terbaik dengan selalu berusaha menerapkan praktik tata kelola yang baik melalui berbagai usaha perbaikan dan peningkatan, serta merujuk pada standar minimal maupun rekomendasi yang harus dipenuhi.

Sesuai Peraturan OJK (POJK) No. 21/POJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka, Perseroan sebagai perusahaan terbuka wajib untuk melakukan pengukuran terhadap penerapan GCG yang dilakukan melalui penilaian (assessment). Perseroan melakukan penilaian penerapan GCG secara konsisten setiap tahunnya untuk mengetahui tingkat kecukupan penerapan GCG di lingkungan Perseroan. Penilaian yang dilakukan oleh Perseroan menggunakan berbagai acuan standar praktik terbaik (best practices) yang berlaku. Perseroan melakukan penilaian penerapan GCG dengan menggunakan standar praktik praktik terbaik yang berlaku di Indonesia maupun di luar negeri, yaitu ASEAN Corporate Governance Scorecard.

Perseroan berkomitmen untuk terus berupaya meningkatkan penerapan praktik Tata Kelola Perusahaan ke level yang lebih tinggi dengan menerapkan ASEAN CG Scorecard. Di tahun 2019 Penilaian atas penerapan ASEAN CG Scorecard di Perseroan dilakukan oleh Indonesian Institute for Corporate Directorship (IICD) dan menunjukkan hasil dengan predikat kategori “baik” dengan capaian skor sebesar 86,64.

DEVELOPMENT OF CORPORATE GOVERNANCE IMPLEMENTATION IN 2019As a Public Company listed on the Indonesia Stock Exchange (IDX), the Company is fully committed to implementing GCG principles as a basis for creating sustainable added value for the interests of shareholders, the communities, and various other stakeholders (employees, consumers , regulators, business partners, etc.) both in the short-and long-term.

The Company's governance is based on the priciples of Good Corporate Governance (GCG), namely Transparency, Accountability, Responsibility, Independence and Fairness, all of which serve as strong forms of commitment that allow the Company to always maintain and enhance corporate value. It also allows the Company to encourage professional, transparent and efficient Company management so that its fundamentals and competitiveness continue to become stronger and remain well maintained.

The Company has a commitment to always apply the best governance standards by always trying to apply good governance practices through various improvement, as well as referring to the minimum standards and recommendations that must be met.

In accordance with OJK Regulation (POJK) No. 21/POJK.04/2015 concerning Guidelines for Public Company Governance, the Company as a public company is required to measure the implementation of GCG through an assessment. The Company evaluates the implementation of GCG consistently every year to determine the level of adequacy of GCG implementation within the Company. The assessment conducted by the Company uses various applicable best practices standards. The Company evaluates the implementation of GCG using best practice standards that apply in Indonesia and abroad, namely the ASEAN Corporate Governance Scorecard.

The Company is committed to continuously striving to improve the application of Corporate Governance practices to a higher level by implementing the ASEAN CG Scorecard. In 2019 the assessment of the implementation of the ASEAN CG Scorecard in the Company was conducted by the Indonesian Institute for Corporate Directorship (IICD) and showed results with “Good” category with a score of 86.64.



Selain itu untuk lebih menguatkan implementasi GCG, Perseroan mulai membangun Sistem Manajemen Anti Penyuapan berbasis ISO 37001. Sistem ini diharapkan dapat terimplementasi penuh pada tahun mendatang dan berlaku untuk Perseroan dan Group.

Peningkatan kualitas dari penerapan praktik terbaik GCG dengan secara terus menerus dilakukan, melakukan pemutakhiran berbagai kebijakan, standar, pedoman, prosedur yang disesuaikan dengan perubahan peraturan perundang-undangan yang berlaku, keadaan lingkungan bisnis, dan juga perkembangan usaha dan kinerja Perseroan.

PERUBAHAN KOMPOSISI ANGGOTA DIREKSIDI TAHUN 2019Pada tahun 2019, komposisi Direksi Elnusa mengalami perubahan dalam rangka menciptakan iklim usaha yang lebih agresif. Pengangkatan komposisi anggota Direksi Elnusa yang baru dilakukan melalui RUPS Tahunan.

Berikut adalah komposisi Direksi per 31 Desember 2019 berdasarkan hasil RUPS pada tanggal 11 April 2019:

No. NamaName

JabatanPosition

1 Elizar Parlindungan Hasibuan Direktur UtamaPresident Director

2 Hery Setiawan Direktur KeuanganDirector of Finance

3 R. M. Happy Paringhadi JS Direktur SDM & UmumDirector of Human Resources & General Affairs

4 Arief Riyanto Direktur Pengembangan Usaha merangkap Direktur OperasiDirector of Business Development concurrently as Director of Operation

Perubahan komposisi Direksi dan Dewan Komisaris tersebut merupakan bagian dari proses penyesuaian dalam rangka pensiun atau mutasi maupun strategi menghadapi tantangan industri yang dihadapi Perseroan.

Segenap jajaran Direksi berkomitmen untuk menjalankan amanah ini dengan senantiasa mengedepankan prinsipTata Kelola Perusahaan yang Baik untuk kepentingan Para Pemegang Saham dan Para Pemangku Kepentingan Lainnya.

In addition to further strengthening the implementation of GCG, the Company has begun to develop an ISO 37001-based Anti-Bribery Management System. This system is expected to be fully implemented in the coming year and applies to the Company and the Group.

Improving the quality of the implementation of GCG best practices by continuously doing, updating various policies, standards, guidelines, procedures that are adapted to changes in legislation in force, the state of the business environment, and also the business development and performance of the Company.

CHANGES IN BOARD OF DIRECTORSCOMPOSITION IN 2019In 2019, the composition of the Board of Directors of Elnusa changed in order to establish more aggressive business climate. The appointment of the new Board of Directors members of Elnusa was carried out through the Annual GMS.

The following table is the composition of the Boatd of Directors as at December 31, 2019 based on the resolution of the GMS on April 11, 2019:

Changes in the composition of the Directors and Board of Commissioners are part of the adjustment process in the context of retirement or transfer as well as strategies to face the industry challenges faced the Company.

The entire Board of Directors is committed to carrying out this mandate by always prioritizing the principles of Good Corporate Governance for the benefit of the Shareholders and Other Stakeholders.


PENUTUPAtas pencapaian yang ditorehkan di tahun 2019, izinkan Direksi menyampaikan rasa hormat dan terima kasih kepada Dewan Komisaris, serta pemegang saham utama, PT Elnusa Tbk. Direksi juga mengucapkan terima kasih atas kepercayaan yang telah diberikan pemegang saham. Terima kasih juga diucapkan kepada regulator, pelanggan, pemasok, dan mitra usaha, atas kerjasama yang telah tercipta.

Kepada seluruh Insan Perseroan, Direksi menyampaikan apresiasi setinggi-tingginya atas kerja keras yang telah ditunjukkan, baik di holding maupun anak perusahaan, di kantor pusat maupun di daerah operasi. Marilah kita kembali meneguhkan semangat tak kenal lelah, agar Elnusa terus dapat berkiprah, berkontribusi, membangun kapasitas, kapabilitas serta inovasi untuk negeri. Semoga pencapaian ini akan menginspirasi seluruh pihak untuk dapat terus mengoptimalkan kemampuannya dan menjadi fondasi bagi Perseroan untuk dapat tumbuh di masa yang akan datang.

CLOSING REMARKSFor the achievements made in 2019, allow us, the Board of Directors to express respect and gratitude to the Board of Commissioners, as well as the major shareholder of PT Elnusa Tbk. The Board of Directors would also like to extend our gratitude for the trust given by the shareholders, and also to the regulators, customers, suppliers and business partners, for their cooperation.

To all Company Personnel, the Board of Directors would like to express our highest appreciation for the hard work that has been demonstrated, both at the holding and subsidiary companies, at the head office and also in the area of operation. Let us reaffirm our tireless spirit, so that Elnusa can continue to take part, contribute, build capacity, capability and innovation for the country. We finally hope that this achievement will inspire all parties to continue to optimize their abilities and become the foundation for the Company to be able to grow in the future.

Jakarta, Juni | June 15, 2020

Atas nama DireksiOn behalf of the Board of Directors

Elizar Parlindungan HasibuanDirektur UtamaPresident Director

PT Elnusa TbkAnnual Report 2019 Laporan Tahunan


LEMBAR PERNYATAAN ANGGOTA DEWAN KOMISARIS DAN DIREKSITENTANG TANGGUNG JAWAB ATAS LAPORAN TAHUNAN 2019

PT ELNUSA Tbk

Kami yang bertanda tangan di bawah ini, menyatakan bahwa semua informasi dalam Laporan Tahunan PT Elnusa Tbk tahun 2019 telah dimuat secara lengkap dan bertanggung jawab penuh atas kebenaran Laporan Tahunan Perseroan.

Demikian pernyataan ini dibuat dengan sebenarnya.

Jakarta, 15 Juni 2020


President Commissioner

Anis Baridwan Komisaris Independen

Independent Commissioner

Lusiaga Levi Susila Komisaris Independen


Antonius Ratdomopurbo Komisaris

Commissioner

Eman Salman AriefKomisaris

Commissioner

Annual Report 2019 Laporan TahunanPT Elnusa Tbk

STATEMENTS FROM THE BOARD OF COMMISSIONERS AND DIRECTORSFOR THE RESPONSIBILITY OF 2019 ANNUAL REPORT

PT ELNUSA Tbk

We the undersigned hereby declare that all the information contained within the 2019 Annual Report of PT Elnusa Tbk has been presented completely. We are fully responsible for the truthfulness of the content of the Annual Report.

This statement has been made truthfully.

Jakarta, June 15, 2020

Elizar Parlindungan HasibuanDirektur Utama

President Director

Hery Setiawan Direktur KeuanganDirector of Finance

Arief RiyantoDirektur Pengembangan Usaha

merangkap Direktur OperasiDirector of Business Development

concurrently as Director of Operation

R. M. Happy ParinghadiDirektur SDM & Umum

Director of Human Resources & General Affairs

PROFIL PERUSAHAANCompany Profile

Memasuki usia emasnya, Perseroan membuktikan kemampuannya untuk turut membangun kapasitas nasional sebagai perusahaan jasa energi dengan mengusung Total Solution Services guna memberikan jasa yang lebih baik, cepat dan kompetitif.

Enter ing i ts golden age, the Company has proven i ts abi l i t y to contr ibute to bui ld ing nat ional capaci ty as an energy serv ice company by carry ing out Tota l So lut ion Serv ices to prov ide bet ter , fas ter and more compet i t i ve serv ices.



INFORMASI UMUM PERUSAHAANCompany General Information

Nama PerusahaanCompany Name

Tanggal PendirianDate of Establishment

Dasar Hukum PendirianLegal Basis of Establishment

Kegiatan Bisnis Utama sesuai Anggaran DasarCore Business Activities based on Articles of Association

Kepemilikan SahamShareholding

Alamat Perusahaan Company Address

Lama BerdiriAge

Status PerusahaanCompany Status

Maksud dan Tujuan PendirianPurpose of Establishment

Modal DasarAuthorized Capital

Modal Ditempatkan dan Disetor PenuhIssued and Fully Deposited Capital

Kode SahamStock Code

Jumlah KaryawanNumber of Employees

Keikutsertaan dalam AsosiasiMembership and Association

Area Operasi 2019 2019 Operation Region

Pencatatan Saham di Bursa SahamListing of Shares on the Stock Exchange

Tanggal PeresmianDate of Official Launching

25 Januari 1969January 25, 1969

Akta Pendirian No. 18 tanggal 25 Januari 1969 yang di buat di hadapan Tan Thong Kie, Notaris, di Jakarta, sebagaimana di ubah melalui Akta No. 10 tanggal 13 Februari 1969 dari notaris yang sama. Akta pendirian ini, telah mendapat pengesahan dari Menteri Kehakiman Republik Indonesia melalui Surat Keputusan No. J.A.5/18/24 tanggal 19 Februari 1969, serta telah diumumkan dalam Berita Negara Republik Indonesia No. 35, Tambahan No. 58 tanggal 2 Mei 1969.Deed of Establishment No. 18 dated January 25, 1969 made before Tan Thong Kie, Notary, in Jakarta, as amended by Deed No. 10 dated February 13, 1969 from the same notary. This deed of establishment was approved by the Minister of Justice of the Republic of Indonesia through Decree No. J.A.5/18/24 dated February 19, 1969 and has been announced in the State Gazette of the Republic of Indonesia No. 35, Additional No. 58 on May 2, 1969.

1. Bidang Jasaa. Jasa yang Berkaitan Energi Alternatifb. Bidang Pengambilan Data dan Pengolahan

Data Geofisika dan Geologic. Konsultasi Bidang Energid. Konsultasi Bidang Pertambangane. Jasa Pengecekan Pipa atau Gas di Bawah

Tanah dan di Dalam Laut2. Bidang Perindustrian

a. Industri Pembangkit Tenaga Listrikb. Industri Energic. Industri Maritim

Kepemilikan Saham Perseroan per 31 Desember 2019:1. PT Pertamina (Persero), dengan Kepemilikan

41,10% Saham2. Dana Pensiun Pertamina, dengan Kepemilikan

14,90% Saham3. Publik (< 5% Individu), dengan Kepemilikan

44,00% Saham

1. Servicesa. Services related to Alternative Energy b. Geophysics and Geology Data Acquisition

and Processingc. Energy-related Consultation d. Mining-related Consultation e. Underground & Undersea Gas Pipeline

Examination Services2. Industries

a. Power Generation Industry b. Energy Industry c. Maritime Industry

Share Ownership of the Company as of December 31, 2019:1. PT Pertamina (Persero), with 41.10% Shares

2. Pertamina Pension Fund, with 14.90% Shares

3. Public (<5% Individual), with 44.00% Shares

50 Tahun per 31 Desember 201950 years as of December 31, 2019

Perusahaan Terbuka (Tbk)Public Company (Tbk)

Berusaha dalam bidang jasa, perdagangan, pertambangan, pembangunan dan perindustrian.Engaged in services, trade, mining, development and industry.

Bursa Efek Indonesia (d/h Bursa Efek Jakarta dan Bursa Efek Surabaya), 6 Februari 2008Indonesia Stock Exchange (formerly Jakarta Stock Exchange and Surabaya Stock Exchange), February 6, 2008

Rp2.250.000.000.000

Rp729.850.000.000

ELSA

1.349 orang (2019)1,349 people (2019)

• Indonesian Petroleum Association (IPA)• Himpunan Ahli Geofisika Indonesia (HAGI)• Ikatan Ahli Geologi Indonesia (IAGI)

Indonesia

Graha Elnusa, Lantai 16, Jl. TB Simatupang Kav. 1B,Jakarta 12560, Indonesia(+62 21) 78830850

(+62 21) [email protected],[email protected]@elnusaofficialElnusaPT Elnusa Tbk

9 September 1969September 9, 1969PT Elnusa Tbk

Untuk informasi lebih lanjut mengenai Perseroan dapat menghubungi:

For further information about the Company please contact:

Sekretaris Perusahaan Corporate Secretary

Ari WijayaGraha Elnusa, Lantai 16

Jl. TB Simatupang Kav. 1B, Jakarta 12560, Indonesia

Telepon | Telephone: (+62 21) 78830850

Faksimili | Facsmile: (+62 21) 78830907Surel | Email: [email protected]


RIWAYAT SINGKAT PERUSAHAANCompany Brief History

PT Elnusa Tbk (“Perseroan”) didirikan dengan nama PT Electronika Nusantara berdasarkan Akta Notaris No. 18 tanggal 25 Januari 1969 dari Tan Thong Kie, S.H., sebagaimana di ubah melalui Akta Notaris No. 10 tanggal 13 Februari 1969 dari notaris yang sama. Akta pendirian ini, yang merupakan Anggaran Dasar Perseroan, telah mendapat pengesahan dari Menteri Kehakiman Republik Indonesia melalui Surat Keputusan No. J.A.5/18/24 tanggal 19 Februari 1969, serta telah diumumkan dalam Berita Negara Republik Indonesia No. 35, Tambahan No. 58 tanggal 2 Mei 1969.

Entitas induk Perseroan adalah PT Pertamina (Persero) dan entitas induk terakhirnya adalah Pemerintah Republik Indonesia. Perseroan mengawali kiprahnya sebagai pendukung operasi PT Pertamina (Persero), terutama dalam memberikan pelayanan termasuk pemeliharaan dan perbaikan, di bidang peralatan komunikasi elektronik, peralatan navigasi dan sistem radar yang digunakan oleh kapal-kapal milik Pertamina maupun kapal-kapal minyak asing yang memiliki perjanjian kerjasama dengan Badan Usaha Milik Negara (BUMN) di bidang Migas.

Pada tahun 1984, nama Perseroan berubah menjadi PT Elnusa berdasarkan Akta Notaris No. 23 tanggal 8 Juni 1984 yang di buat di hadapan Sinta Susikto, Notaris, di Jakarta. Hingga akhirnya pada tahun 2008, Perseroan secara resmi terdaftar di Bursa Efek Indonesia (Kode saham: ELSA) pada 6 Februari 2008 dan menggunakan nama PT Elnusa Tbk. Perseroan kini tidak hanya melayani jasa migas, namun Perseroan juga melayani jasa energi dan siap menjadi kepercayaan dari klien nasional maupun internasional.

Perseroan membuktikan kemampuannya untuk turut membangun kapasitas nasional sebagai perusahaan jasa energi yang mengusung Total Solution di Usianya yang telah menginjak 50 tahun. Pembuktian tersebut ditunjukkan Perseroan dengan mulai melayarkan Elsa Regent yang merupakan kapal seismik tercanggih di Indonesia untuk mendukung aktivitas eksplorasi Komitmen Kerja Pasti (KKP) Jambi Merang di wilayah terbuka Indonesia, dan survei ini akan menjadi survei terbesar dalam satu dekade terakhir. Selain itu Perseroan dengan cerdik meluncurkan smart water meter dan smart power meter. Smart water meter merupakan inovasi yang diciptakan untuk mendukung kinerja produsen air dari kebocoran.

Perseroan memperkuat eksistensinya di industry migas dengan mendirikan PT Elnusa Drilling Services yang melayani jasa pengeboran terpadu dan mengakuisisi PT Purna Bina Nusa yang kini bernama PT Elnusa Fabrikasi Konstruksi. Pada tahun 2007 – 2010 Perseroan melakukan Restrukturisasi Korporasi agar lebih focus sebagai penyedia jasa hulu migas terintegrasi, Perseroan melakukan penggabungan vertical atas empat anak perusahaan ke dalam Perseroan, di antaranya PT Elnusa Geosains, PT Elnusa Drilling Services, PT Sinar Riau Drillindo serta PT Elnusa Workover Services. Selain itu Perseroan juga melakukan divestasi saham di beberapa perusahaan yang bukan merupakan bisnis inti Perseroan untuk memantapkan usaha di bisnis jasa migas.

PT Elnusa Tbk ("the Company") was established under the name PT Electronika Nusantara based on Notarial Deed No. 18 dated January 25, 1969 from Tan Thong Kie, S.H., as amended by Notarial Deed No. 10 dated February 13, 1969 from the same notary. This deed of establishment, which constitutes the Company's Articles of Association, has been approved by the Minister of Justice of the Republic of Indonesia through Decree No. J.A.5/18/24 dated February 19 , 1969, and has been announced in the State Gazette of the Republic of Indonesia No. 35, Additional No. 58 on May 2, 1969.

The Company’s parent entity is PT Pertamina (Persero) and the last parent entity is the Government of the Republic of Indonesia. The Company commenced its work as a supporting company for PT Pertamina’s (Persero) operations, primarily in providing services including maintenance and repairs, in the field of electronic communication equipment, navigation equipment and radar systems used by Pertamina-owned vessels and foreign oil vessels that have cooperation agreements with State-Owned Enterprises (BUMN) in the oil and gas sector.

In 1984, the Company's name was changed to PT Elnusa based on Notarial Deed No. 23 June 8, 1984 which was made before Sinta Susikto, Notary, in Jakarta. Until finally in 2008, the Company was officially listed on the Indonesia Stock Exchange (Stock code: ELSA) on February 6, 2008 and used the name PT Elnusa Tbk. The Company now not only serves oil and gas services, but also energy services and is ready to become a credible company trusted by national and international clients.

Entering its 50th year anniversary the Company has proven its ability to contribute to building national capacity as an energy service company that carries Total Solutions. This is evidenced by Elsa Regent which is the most sophisticated seismic ship in Indonesia to support the exploration activities of the Jambi Merang Commitment (KKP) in the open areas of Indonesia, and this survey will be the largest survey in the last decade. In addition, the Company cleverly launched smart water meter and smart power meter. Smart water meter is an innovation created to support the performance of water producers from leakage.

The Company strengthens its existence in the oil and gas industry by establishing PT Elnusa Drilling Services which serves integrated drilling services and acquires PT Purna Bina Nusa, which is now named PT Elnusa Fabrikasi Konstruksi. In 2007-2010 the Company conducted Corporate Restructuring to be more focused as an integrated upstream oil and gas service provider, the Company conducted a vertical merger of four subsidiaries into the Company, including PT Elnusa Geosains, PT Elnusa Drilling Services, PT Sinar Riau Drillindo and PT Elnusa Workover Services . In addition, the Company also divested shares in several companies which are not the Company's core business to strengthen businesses in the oil and gas service business.



Perseroan pernah melakukan program Turnaround untuk memperbaiki kinerjanya di seluruh aspek bisnis, operasional maupun memperkuat implementasi budaya perusahaan. Selain itu pada tahun 2014 – 2016 Perseroan memperkuat tatanan operational, Organisasi dan juga fungsi pengendalian internal serta melakukan evaluasi dan redefinisi seluruh produk/ jasa Perseroan. Selain itu Perseroan mendirikan PT Elnusa Geosains Indonesia dan PT Elnusa Oilfield Services sebagai bagian dari mitigas risiko Perusahaan. Perseroan juga meningkatkan optimalisasi proses bisnis dengan layanan terpadu, memperluas pangsa pasar dan peluang bisnis melalui diversifikasi usaha, serta mengaktifkan kembali bisnis marine seismic dengan mendirikan PT Elnusa Trans Samudera dan investasi MV ELSA Regent.

Bertepatan di usia emasnya, Perseroan juga melakukan aliansi strategis nasional dengan melakukan penandatanganan kerjasama strategis dalam rangka peningkatan kapabilitas Perseroan bersama dengan partners baik di bidang bisnis maupun inovasi. Selain itu, Perseroan juga meraih banyak penghargaan dan apresiasi dari klien atas kinerja baik Perseroan yang ditorehkan dalam menyelesaikan pekerjaan. Selain itu, mengantisipasi distrupsi, Perseroan membangun Laboratorium inovasi yang bernama Agni. Agni akan mengelola dan menjadi wadah para inovator di Perseroan dalam mengembangkan inovasi, ide, serta kreativitas yang ada dilingkungan Perseroan.

KETERANGAN PERUBAHAN NAMASebagaimana yang telah diuraikan dalam riwayat singkat Perseroan, bahwa pada tahun 1984, nama Perseroan berubah dari PT Elektronika Nusantara menjadi PT Elnusa berdasarkan Akta Notaris No. 18 tanggal 8 Juni 1984 yang di buat di hadapan Sinta Susikto, Notaris, di Jakarta. Perubahan tersebut memiliki landasan yang kuat yaitu dengan nama Elnusa, Perseroan telah memiliki kemampuan yang tidak hanya menjadi perusahaan jasa di bidang migas terbesar di Indonesia, sumber daya manusia yang dimiliki pun telah memenuhi standar internasional di bidang yang digeluti.

The Company has conducted a Turnaround program to improve its performance in all aspects of business, operations and strengthen the implementation of corporate culture. In addition, in 2014-2016 the Company strengthened its operational, organizational and internal control functions as well as to evaluate and redefine all of the Company's products / services. Then, the Company established PT Elnusa Geosains Indonesia and PT Elnusa Oilfield Services as part of the Company's risk mitigation. The Company also improves business process optimization with integrated services, expands market share and business opportunities through business diversification, and reactivates marine seismic business by establishing PT Elnusa Trans Samudera and MV ELSA Regent investment.

In its golden age, the Company also entered into a national strategic alliance by signing a strategic partnership in order to improve the capabilities of the Company together with partners both in business and innovation. In addition, the Company also received many awards and appreciation from clients for the Company's good performance in completing its jobs. In addition, in anticipation of disruption, the Company built an innovation laboratory called Agni. Agni will manage and become a place for innovators in the Company to develop innovations, ideas and creativity within the Company.

CHANGE OF NAME INFORMATIONAs explained in the Company's brief history, that in 1984, the Company's name was changed from PT Elektronika Nusantara to PT Elnusa based on Notarial Deed No. 18 dated June 8, 1984 made before Sinta Susikto, Notary, in Jakarta. This change has a strong foundation, namely by the name of Elnusa, the Company has the ability to not only be a service company in the largest oil and gas sector in Indonesia, its human resources also meet international standards in the field they are involved in.


KEGIATAN USAHA BERDASARKANANGGARAN DASAR TERAKHIRBerdasarkan Akta Perubahan terakhir Perseroan Nomor 31 tanggal 11 April 2019 dibuat di hadapan Aulia Taufani, S.H., Notaris di Jakarta yang telah mendapat persetujuan Menteri Hukum dan Hak Asasi Manusia RI dengan Surat Keputusan Nomor AHU-0022730.AH.01.02 Tahun 2019 tanggal 26 April 2019, terdapat penyusunan kembali Pasal 3 Anggaran Dasar Perseroan yaitu:

1. Maksud dan tujuan Perseroan ini berusaha dalam bidang Jasa (aktivitas profesional; informasi dan komunikasi; real estat; aktivitas ketenagakerjaan dan usaha penunjang lainnya); Perdagangan Besar dan Eceran; Pertambangan dan Penggalian; Pembangunan (konstruksi); Perindustrian; dan Pengelolaan Air dan Pengelolaan Air Limbah.

2. Untuk mencapai maksud dan tujuan tersebut di atas, Perseroan dapat melaksanakan kegiatan usaha utama sebagai berikut:a. Jasa (aktivitas profesional; informasi dan komunikasi;

real estat; aktivitas ketenagakerjaan dan usaha penunjang lainnya);

b. Perdagangan Besar dan Eceran;c. Pertambangan dan Penggalian;d. Pembangunan (konstruksi);e. Perindustrian; danf. Pengelolaan Air dan Pengelolaan Air Limbah.

Untuk mencapai maksud dan tujuan tersebut di atas, Perseroan dapat melaksanakan kegiatan usaha utama sebagai berikut: 1. Jasa (aktivitas profesional; informasi dan komunikasi; real

estat; aktivitas ketenagakerjaan dan usaha penunjang lainnya), antara lain: a. Reparasi kapal, perahu, dan bangunan terapung.b. Aktivitas keinsinyuran dan konsultasi teknis yang

sehubungan dengan itu.c. Aktivitas pengolahan data.d. Aktivitas konsultasi komputer dan manajemen fasilitas

komputer lainnya.e. Aktivitas teknologi informasi dan jasa komputer lainnya.f. Aktivitas konsultasi manajemen lainnya.g. Aktivitas penyeleksian dan penempatan tenaga kerja.h. Real estat yang dimiliki sendiri atau disewa.i. Aktivitas penyedia gabungan jasa penunjang fasilitas.

2. Perdagangan Besar dan Eceran, antara lain: a. Perdagangan besar bahan bakar padat, cair, dan gas

dan produk yang berhubungan dengan itu. b. Perdagangan besar atau balas jasa (fee) atau kontrak.c. Perdagangan besar peralatan telekomunikasi.

3. Pertambangan dan Penggalian yang antara lain: a. Aktivitas penunjang pertambangan minyak bumi dan

gas.b. Aktivitas penunjang pertambangan dan penggalian

lainnya.

BIDANG USAHABusiness Fields

BUSINESS ACTIVITIES BASED ONLATEST ARTICLES OF ASSOCIATIONBased on the latest Amendment Deed of the Company Number 31 dated 11 April 2019, it was made before Aulia Taufani, SH, Notary in Jakarta who had received approval from the Minister of Law and Human Rights of the Republic of Indonesia with Decree Number AHU-0022730.AH.01.02 Year 2019 on 26 April 2019 , there is a restructuring of Article 3 of the Company's Articles of Association, namely:1. The aims and objectives of the Company are to engage

in Services (professional activities; information and communication; real estate; employment activities and other supporting businesses); Wholesale and retail trade; Mining and excavation; Development (construction); Industry; and Water Management and Waste Water Management.

2. To achieve the aims and objectives above, the Company can carry out the main business activities as follows:a. Services (professional activities; information and

communication; real estate; employment activities and other supporting businesses);

b. Wholesale and retail trade;c. Mining and excavation;d. Development (construction);e. e. Industry; andf. Water Management and Waste Water Management.

To achieve the aims and objectives above, the Company can carry out the main business activities as follows: 1. Services (professional activities; information and

communication; real estate; employment activities and other supporting businesses), including: a. Repair of ships, boats and floating buildings.b. Engineering activities and technical consultations

related to it.c. Data processing activities.d. Computer consulting activities and management of

other computer facilities.e. Information technology activities and other computer services.f. Other management consulting activities.g. Selection and placement activities of workers.h. Owned or leased real estate.i. Activities of a combined provider of facility support services..

2. Wholesale and Retail Trade, including: a. Large trade in solid, liquid and gas fuels and products

related to it.b. Wholesale trade or fee (contract) or contract.c. Large trade in telecommunications equipment.

3. Mining and Quarrying, which include: a. Supporting activities for oil and gas mining.

b. Supporting mining and other excavation activities.



4. Pembangunan (konstruksi) antara lain: a. Konstruksi bangunan dan pengolahan dan

penampungan barang minyak dan gas.b. Instalasi minyak dan gas.c. Konstruksi sentral telekomunikasi.

5. Perindustrian, antara lain:a. Industri mesin penambangan, penggalian, dan

konstruksi.b. Industri bahan bakar dari pemurnian dan pengilangan

minyak bumi.c. Industri produk dari hasil kilang minyak bumi.d. Pembangkitan tenaga listrik (termasuk juga energi

alternatif).e. Industri kapal dan perahu.

Selain kegiatan usaha utama sebagaimana dimaksud di atas, Perseroan dapat melakukan kegiatan usaha penunjang yaitu: 1. Jasa (aktivitas penunjang pertambangan minyak bumi dan

gas).2. Pengelolaan Air dan Pengelolaan Air Limbah (aktivitas

penunjang pengelolaan air, pengelolaan dan pembuangan air limbah tidak berbahaya, pengelolaan dan pembuangan air limbah berbahaya).

3. Perdagangan (perdagangan eceran bahan bakar kendaraan di stasiun pengisian bahan bakar umum (SPBU)).

4. Pertambangan (aktivitas penunjang pertambangan dan penggalian lainnya).

5. Pembangunan (konstruksi bangunan pengolahan dan penampungan barang minyak dan gas).

6. Perindustrian lainnya (industri mesin penambangan, penggalian, dan konstruksi).

KEGIATAN USAHA YANG DIJALANKANBerdasarkan Pernyataan Standar Akuntansi Keuangan (PSAK) 5 (Revisi 2009) tentang “Segmen Operasi”, segmen usaha Perseroan dikelompokkan menurut kegiatan usaha yaitu, Jasa Hulu Migas, Jasa Distribusi & Logistik Energi, serta Jasa Penunjang Migas, dengan keterangan sebagai berikut:

Segmen UsahaBusiness Segment

Kegiatan UsahaBusiness Activity

Jasa Hulu MigasUpstream Oil and Gas Services

Menyediakan jasa pengukuran data geofisika/seismik, jasa pemboran migas dan jasa oilfield.Provide geophysical/seismic data measurement services, oil and gas drilling services and oilfield services.

Jasa Distribusi & Logistik EnergiEnergy Distribution & Logistic Service

Menyediakan jasa penyimpanan, perdagangan, pendistribusian, dan pemasaran produk minyak dan gas di Indonesia.Provide storage, trading, distribution, and marketing services for oil and gas products in Indonesia.

4. Construction (construction) include: a. Building construction and processing and reception of

oil and gas goods.b. Oil and gas installations.c. Telecommunications central construction.

5. Industry, including:a. Mining, quarrying, and industrial machinery

construction.b. Fuel industry from refining and refining petroleum.

c. Manufacture of products from petroleum refineries.d. Electric power generation (including alternative

energy).e. Ship and boat industry

In addition to the main business activities referred to above, the Company can carry out supporting business activities, namely: 1. Services (supporting activities of petroleum and gas mining).

2. Water Management and Wastewater Management (supporting activities for water management, management and disposal of non-hazardous wastewater, management and disposal hazardous wastewater).

3. Trading (retail trade of vehicle fuels at public gas stations).

4. Mining (supporting mining and other excavation activities).

5. Construction (construction of processing buildings and storage of oil and gas goods).

6. Other industries (mining, quarrying and construction machinery industry).

COMPANY CURRENT BUSINESSBased on the Statement of Financial Accounting Standards (PSAK) 5 (2009 Revision) concerning "Operating Segments", the Company's business segments are grouped according to business activities namely, Upstream Oil and Gas Services, Energy Distribution & Logistics Services, and Oil and Gas Support Services, with the following information:



Kegiatan UsahaBusiness Activity

Jasa Penunjang MigasOil and Gas Support Services

Menyediakan jasa penguliran, perdagangan pipa OCGT (Open Cycle Gas Turbine) dan fabrikasi, pembuatan ulir (threading) untuk pemboran migas, jasa pengelolaan data dan informasi energi dan sumber daya mineral (khususnya eksplorasi dan eksploitasi minyak dan gas bumi), jasa pengelolaan data migas, jasa pembangunan sistem teknologi informasi terpadu, jasa telekomunikasi, jasa penyediaan jaringan, telekomunikasi satelit, dan sistem komunikasi VSAT (Very-Small-Aperture Terminal).Provide services for trading, OCGT (Open Cycle Gas Turbine) pipelines and fabrication, threading for oil and gas drilling, energy and mineral resource data and information management services (specifically oil and gas exploration and exploitation), oil and gas data management services , integrated information technology system development services, telecommunications services, network supply services, satellitetelecommunications, and VSAT (Very-Small-Aperture Terminal) communication systems.

PRODUK/JASA PERSEROANBerdasarkan maksud dan tujuan serta kegiatan usaha yang dilakukan, Perseroan mengembangkan produk dan jasa melalui 3 (tiga) segmen usaha, yang juga dijalankan oleh kelompok usaha Perseroan, dengan penjelasan sebagai berikut:


Divisi/Entitas AnakDivision/Subsidiary

Aktivitas PokokMain Activity

Aktivitas BisnisBusiness Activity

Perkembangan saat IniCurrent Development

Jasa Hulu MigasUpstream Oil and Gas Services

Divisi:Divisi Geoscience & Reservoir Services (GRS)Division: Geoscience & Reservoir Services Division (GRS)

Jasa Akuisisi Data Geofisika/Survei Seismik MigasGeophysical Data Acquisition Services/Oil and Gas Seismic Survey

1. Seismic Data Acquisition (Land, Marine, and Transition Zone/TZ)

2. Non Seismic Data Acquisition3. Seismic Data Processing4. Geology, Geophysics, &

Reservoir

Jenis Aktivitas Bisnis DIvisi GRS, masih sama, adapun adanya peningkatan utilisasi di tahun 2019 disemua aktivitas Bisnis.Types of Business Activities The GRS division is still the same, while there is an increase in utilization in 2019 in all business activities.

Entitas Anak:SubsidiaryPT Elnusa Geosains Indonesia (EGI)

Divisi:Divisi Production, Operation & Maintenance Services (POMS)Division: Production, Operation & Maintenance Services Division (POMS)

Jasa Pengeboran dan Pemeliharaan Lapangan MigasOil and Gas Field Drilling and Maintenance Services

1. Drilling Services2. Hydraulic Workover & Snubbing

Services3. Coiled Tubbing Services4. Electric Wireline Logging

Services5. Well Testing Services6. Cementing & Pumping Services7. Drilling Fluid Services8. Surface Testing & Drill Steam

Testing Services9. Mud Logging & H2S Services10. Engineering, Procurement, &

Construction11. Operation & Maintenance12. Enhance Oil Recovery13. Well Plug & Abandonment14. Artificial Lift

Jenis Aktivitas Bisnis DIvisi POMS, masih sama, adapun adanya peningkatan utilisasi di tahun 2019 baik asset based maupun aktivitas pada OM EPC.

Types of Business Activities The POMS division is still the same, while there is an increase in utilization in 2019 on both asset based and activities on OM EPC.

Entitas Anak:EntityPT Elnusa Oilfield Services (EOS)

COMPANY PRODUCTS AND SERVICESBased on the aims and objectives as well as the business activities carried out, the Company develops products and services through 3 (three) business segments, which are also run by the Company's business groups, with the following explanation:








Jasa Distribusi & Logistik EnergiDistribution & Logistic Services

Entitas Anak:PT Elnusa Petrofin (EPN)

Jasa penyimpanan BBM, pendistribusian BBM, perdagangan BBM Industri & Marine, perdagangan chemicals, perdagangan pelumas & aspal, serta pengelolaan SPBU & SPBE.Fuel storage service, fuel distribution, fuel trade for Industry & Marine, chemical trading, lubricant and asphalt trade, and the management of gas stations (SPBU) and LPG filling stations (SPBE).

1. Manajemen depot BBM milik swasta, mulai dari kegiatan administrasi pembelian BBM, pengangkutan BBM, penyimpanan BBM dan penyaluran BBM di lokasi pelanggan. EPN juga memiliki depot BBM sendiri dengan kapasitas 4.400 KL di Plumpang-Semper, Jakarta Utara dan Depot LPG Amurang dengan kapasitas 2 x 1000 Ton di Amurang, Sulawesi Utara.

2. Manajemen distribusi BBM, distribusi BBM dari depot Pertamina ke SPBU, Agen Premium Minyak Solar (APMS) dan stasiun pengisian bahan bakar bunker (SPBB).

3. Pengelolaan SPBU dan SPBE.4. Perdagangan Bahan Kimia.5. Perdagangan BBM Industri-

Marine.6. Perdagangan Pelumas dan Aspal.1. Management of privately owned

fuel depots, ranging from administration of fuel purchases, transportation of fuel, storage of fuel and distribution of fuel at the customer's location. EPN also has its own fuel depot with a capacity of 4,400 KL in Plumpang-Semper, North Jakarta and the Amurang LPG Depot with a capacity of 2 x 1000 Tons in Amurang, North Sulawesi.

2. Fuel distribution management, fuel distribution from Pertamina depots to gas stations, Solar Oil Premium Agent (APMS) and bunker fuel refilling stations (SPBB).

3. Management of SPBU and SPBE.4. Chemical Trade.5. Fuel Industry-Marine Trade.6. Lubricants and Asphalt Trade.

Jenis Aktivitas Bisnis EPN, masih sama, adapun adanya penambahan aktivitas dengan pengelolaan Deo LPG Amurang.

The type of EPN business activities is still the same, with the addition of activities with the management of Amurang LPG Deo.







Jasa Penunjang Migas

Oil and Gas Support Services

Entitas Anak:EntityPT Elnusa Fabrikasi Konstruksi (EFK)

Jasa fabrikasi, penguliran, dan perdagangan pipa Oil Country Tubular Goods (OCTG), proyek EPC dan Maintenance Services.

Oil Country Tubular Goods (OCTG) fabrication, threading and trading services (OCTG), EPC projects, and Maintenance Services.

1. Pengolahan bahan mentah dan bahan baku.

2. Pembuatan serta perbaikan alat-alat perminyakan.

3. Perdagangan umum, termasuk ekspor, impor, regional, dan lokal.

4. Penyediaan jasa untuk bidang minyak dan gas bumi, yaitu OCTG dan penguliran pipa. Berperan sebagai agen dari perusahaan dari dalam maupun luar negeri.

5. Jasa pemeliharaan mesin dan peralatan migas.

6. Layanan jasa desain, engineering, pengawasan, dan pelaksanaan konstruksi.

1. Processing of raw materials.2. Manufacture and repair of

petroleum equipment.3. General trading, including

export, import, regional, and local.

4. Provision of services for the oil and gas sector, namely OCTG and pipeline threading. Acting as an agent of domestic and overseas company.

5. Maintenance services of oil and gas machinery and equipment.

6. Design, engineering, supervision, and construction services.

Jenis Aktivitas Bisnis EFK, masih sama, peningkatan aktivitas di tahun 2019 khusunya kegiatan di fabrikasi.

Type of EFK Business Activities is still the same, there's an increase in 2019 especially in fabrication activities.

Entitas Anak:EntityPT Patra Nusa Data (PND)

Jasa perolehan lisensi, pengelolaan data migas, data online (pay per use) dan penyimpanan data fisik migas.

1. Lisensi data paket pembukaan WK Konvensional, non konvensional, dan KSO Pertamina.

2. Re-lisensi data.3. Akses penggunaan data lisensi,

data olahan ulang.4. Lisensi studi prospektivitas area.5. Bisnis Farm In Farm Out.6. Bisnis data tertutup.7. Bisnis pengelolaan data migas

korporat (Corporate Date Repository).

8. Analisis produk baru (Non- Seismik).

9. Bisnis pengelolaan data non migas.

10. Pemasaran produk dan menciptakan pasar.

11. Melakukan inovasi produk (internal dan eksternal PND).

Jenis Aktivitas Bisnis PND, masih sama.








License acquisition services, oil and gas data management, online data (pay per use), and physical data storage for oil and gas.

1. The licensing of data packets for the opening of conventional and non-conventional operating licenses (WK) and Pertamina Joint Operations (KSO).

2. Re-licensing of data.3. Access to the use of data

licensing, data reprocessing.4. Licensing for studies of area

prospectivity.5. Farm in Farm out Business.6. Closed data business.7. Business data management

of oil and gas corporations (Corporate Data Repository).

8. Analysis of new products (Non-Seismic).

9. Non-oil and gas data management business.

10. Marketing products and creating markets.

11. Product innovation (internal and external PND).

The type of PND business activities is still the same.

Entitas Anak:EntityPT Sigma Cipta Utama (SCU)

Jasa penyimpanan data fisik, pengelolaan data elektronik & sistem informasi, penyimpanan contoh batuan migas, telekomunikasi radio, jasa aplikasi sistem IT.

1. Penyimpanan dan pengelolaan berbagai jenis dokumen meliputi Magnetic Tape Storage, Document Hardcopy Storage, Geological Sample Storage, General Warehousing, Geological Sample Maintenance Services, Data Assesment, Data Storage & Library Servicing, Magnetic Media Transferring, Hardcopy Scanning.

2. Information & Communication Technology (ICT), meliputi Data Center & Disaster Recovery Services, IT Solution, IT Service Management (ITSM), Knowledge Management System (KMS), Radio (Trunking and Conventional) Telecommunication Solution, Equipment Monitoring Control, Vessel Tracking Monitoring System, GPS Tracking.

3. Pembuatan duplikat data master dalam berbagai media dan mengubah format data.

4. Proses perlindungan data untuk kepentingan backup dan recovery data elektronik.

Jenis Aktivitas Bisnis SCU, masih sama.







Physical data storage services, electronic data management and information systems, storage of geological samples, radio telecommunications,IT system application services.

1. Storage and management of various types of documents include Magnetic Tape Storage, Document Hardcopy Storage, Geological Sample Storage, General Warehousing, Geological Sample Maintenance Services, Data Assessment, Data Storage & Library Servicing, Magnetic Media Transfering, Hardcopy Scanning.

2. Information & Communication Technology (ICT), including Data Center & Disaster Recovery Services, IT Solutions, IT Service Management (ITSM), Knowledge Management Systems (KMS), Radio (Trunking and Conventional) Telecommunication Solutions, Monitoring Control Equipment, Vessel Tracking Monitoring System , GPS Tracking.

3. Duplicate master data in various media and data format changing.

4. Data protection processes for the purpose of electronic data backup and recovery.

The type of SCU business activities is still the same.

Entitas Anak:EntityPT Elnusa Trans Samudera (ETSA)

Jasa pendukung layanan marine migas.

Marine oil and gas support services.

1. Jasa penyewaan kapal untuk keperluan operasional lapangan minyak, seperti penyewaan kapal tug boat, crew boat, AWB dan, multipurpose barges.

2. Jasa penyewaan kapal untuk keperluan seismik survei.

3. Jasa penyewaan kapal untuk keperluan operasional bisnis lain selain migas.

4. Jasa dredging meliputi penyewaan unit dredging barge berikut operasionalnya

1. Ship rental services for oil field operations, such as tug boat rentals, crew boats, AWB and multipurpose barges.

2. Ship rental services for seismic survey.

3. Ship rental services for other operational purposes other than oil and gas.

4. Dredging services include leasing dredging barge units and operations

Ditahun 2019 ETSA berhasil penambah 2 aktivitas bisnis baru yaitu 1. Jasa dregging atau

jasa pengerukan bawah laut yang bertujuan untuk penghindari pendangkalan laut akibat dari sedimentasi

2. Jasa penyewaan dan pengoperasional kapal sea truck yang berfungsi sebagai kapal transit untuk keperluan crew change

In 2019 ETSA succeeded in adding 2 new business activities viz1. Dregging services

or dredging services underwater aiming to avoid sea silting as a result of sedimentation

2. Sea truck ship rental and operation services that function as transit ships for crew change purposes



STRUKTUR ORGANISASIOrganizational Structure

Struktur organisasi Perseroan telah disahkan melalui Surat Keputusan No. 015/EN/KPTS/000D/2019 tanggal 1 November 2019 tentang Struktur Organisasi PT Elnusa Tbk dan Surat Keputusan No. 016/EN/KPTS/000D/2019 tentang Penetapan mutasi jabatan manajemen PT Elnusa Tbk, sebagai berikut:

Elizar Parlindungan HasibuanDirektur Utama

President Director

Asmal SalamChief of Legal &

Compliance

Ramon Arias PiliVP of HSSE

Ganang SoegiyarsoKetua Internal Audit

Chief of Internal Audit

Ari WijayaSekretaris PerusahaanCorporate Secretary

Arief RiyantoDirektur Operasi

Director of Operation

Elizar Parlindungan HasibuanDirektur Operasi

Operation Director

Arief RiyantoDirektur Pengembangan Usaha

Director of Business Development

R.M. Happy Paringhadi Direktur SDM & Umum

Director of HR & General Affair

Hery SetiawanDirektur Keuangan

Director of Finance


The Company's organizational structure has been approved through Decree No. 015/EN/KPTS/000D/2019 dated November 1, 2019 concerning the Organizational Structure of PT Elnusa Tbk and Decree No. 016/EN/KPTS/000D/2019 concerning the determination of the transfer of management position of PT Elnusa Tbk, as follows:

A.A.A. Indira Pratyaksa

VP of Human Capital

Meljevi BudiaVP of Controller

Dipa MuliaVP of Geoscience

& Reservoir Services

Hera HandayaniVP of Business Development

Ina Marvitasari Senior Manager of Elnusa Petroleum

School

Adi Yatama Adi Guna Senior Manager of Information System

Maryanto Makhdori Senior Manager

of Enterprise Risk Management

VacantVP of Property

Management & General Affairs

Hanny Retno HapsariVP of Strategic

Planning & Corporate Management

Achmad ZakiVP of Asset Reliability &

Productivity

M. Akbarul Syah AlamVP of Engineering Centre & Quality

Management

Edy Efendi VP of Supply Chain

Management

Yogi FirdausVP of Treasury &

Financing

Rony HartantoVP of Production,

Operation & Maintenance Services

Dian NugrahaningsihVP of Marketing

PT Elnusa Tbk70


VISI, MISI, NILAI, DAN BUDAYA PERUSAHAANCorporate Vision, Mission, Values & Culture

Visi, Misi, Nilai, dan Budaya Perusahaan senantiasa di kaji secara berkala untuk memastikan kesesuaiannya dengan perkembangan lingkungan bisnis Perseroan. Perumusan Visi, Misi, Nilai, dan Budaya Perusahaan dilakukan dengan melibatkan seluruh pihak yang terkait yaitu Dewan Komisaris, Direksi, dan Karyawan, serta memperhatikan kepentingan dari para Pemangku Kepentingan lainnya.

Sejalan dengan perkembangan lingkungan bisnis dan tantangan yang dihadapi, Perseroan mengubah visi-misi yang menjadi tujuan selama ini. Perubahan visi, misi ini adalah untuk menguatkan keyakinan dalam menghadapi dinamika dan tantangan bisnis ke depan. Perubahan visi dan misi ini telah disetujui oleh Dewan Komisaris dan Direksi serta disahkan bersamaan dengan pengesahan RJPP 2017-2021. Perubahan visi misi ini tersaji sebagai berikut:

The Company Vision, Mission, Values, and Culture are regularly reviewed to ensure their applicability with the recent developments in the Company’s business. The formulation of the Corporate Vision, Mission, Values, and Culture involves all related parties such as Board of Commissioners, Board of Directors, and Employees, and the interests of all Shareholders were all taken into account.

In line with the development of the business environment and the challenges faced, the Company has changed its vision and mission. The changes are to strengthen our confidence in facing future dynamics and business challenges. These have been approved by the Board of Commissioners and Directors and passed together with the 2017-2021 RJPP. The changes in vision and mission are presented as follows:

VISI MisiVISION MISSION

Perusahaan Jasa Energi Terkemuka yang Memberikan Solusi Total.Reputable Energy Services Company by Providing Total Solutions.

Meningkatkan kelangsungan bisnis yang berkelanjutan dan menguntungkan dalam industri energi dalam negeri dan internasional untuk memenuhi harapan pemegang saham.Improve business sustainability and profitability in local and international energy industries to meet shareholders’ expectations.

Memenuhi dan menjaga kepuasan pelanggan dengan memberikan Solution Total melalui sinergi, operational Excellence, HSSE, dan prinsip-prinsip GCG.Fulfill and maintain customer satisfaction by providing Total Solution through synergy, operational excellence, HSSE and GCG principles.

Meningkatkan kesejahteraan dan kesempatan untuk berkembang bagi karyawan.Improve employees’ welfare and growth opportunities.

Membangun hubungan yang harmonis dan saling menguntungkan dengan pemerintah, mitra, dan masyarakat.Establish harmonious and mutually beneficial relationships with governments, partners, and communities.


Budaya Perusahaan

Makna Logo Perusahaan

Corporate Culture

The Meaning of Company Logo

Budaya Perusahaan merupakan kombinasi terintegrasi dan selaras dari nilai Perusahaan (clean, respectful, synergy) serta semangat dan prinsip yang harus dimiliki oleh insan Perseroan, yaitu:

Personal Ethos, dijabarkan sebagai sifat yang harus dimiliki oleh seluruh karyawan sebagai individu meliputi “Working with Passion, Working with Love & Working Smart”.

Operation Excellence, dijabarkan sebagai budaya yang harus dimiliki dalam melakukan pekerjaan meliputi “HSE is My Culture, Equipment is My Life & Cost Awareness is My Attitude”.

Management Style, dijabarkan sebagai sifat yang harus dimiliki oleh para manajemen di Perseroan meliputi “Manage with Knowledge, Manage with Speed, and Manage with Gut”.

Corporate culture is an integrated and harmonious combination of the Company’s values (clean, respectful, synergy) as well as the spirit of and principles taken by all of the Company's employees, namely:

Personal Ethos, is described as a trait that must be possessed by all employees as individuals including "Working with Passion, Working with Love & Working Smart".

Operation Excellence, described as a culture that must be possessed in carrying out work includes "HSE is My Culture, Equipment is My Life & Cost Awareness is My Attitude".

Management Style, described as a trait that must be possessed by the management in the Company including "Manage with Knowledge, Manage with Speed, and Manage with Gut".

Logo Elnusa terdiri dari ‘Logogram’ dan ‘Logotype’The Elnusa logo consists of ‘Logogram’ and ‘Logotype’

Logogram :

Gagasan dasarnya adalah “circular energy” yang divisualisasikan seperti bentuk huruf “e” sebagai huruf awal nama Perseroan yaitu Elnusa dan ruang lingkup bisnis Perseroan yaitu jasa energi. Struktur bentuk logogram bulat, bermakna dinamis dan sempurna. Elnusa sebagai perusahaan jasa memiliki semangat dan kekuatan besar yang secara dinamis berperilaku responsif, adaptif, dan inovatif untuk memenuhi kebutuhan dan kepuasan pelanggan. Sempurna adalah komitmen dan integritas Elnusa untuk membangun negeri melalui bisnis jasa energi. Konfigurasi gradasi ketebalan garis pada logogram menciptakan impresi kecepatan berputar yang mengartikulasikan continuous improvement dalam penguasaan teknologi, peningkatan mutu sumber daya insani dan menghasilkan profesionalisme yang terpercaya guna mengakselerasi pertumbuhan bisnis dan pengembangan usaha. Komposisi warna logogram mencerminkan karakteristik dan nilai inti Elnusa: hijau = Clean; merah = Respectful; biru = Synergy.The basic idea is "circular energy" which is visualized in the form of letter "e" as the initial letter of the Company's name that is Elnusa and the scope of the Company's business namely energy services. The structure of the logogram is round, meaning dynamic and perfect. Elnusa as a service company has a great passion and strength that dynamically behaves responsive, adaptive, and innovative to meet customer needs and satisfaction. Perfect is Elnusa's commitment and integrity to develop the country through the energy services business. The configuration of the gradation of the thickness of the line on the logogram creates the impression of a rotating speed that articulates continuous improvement in technological mastery, increases the quality of human resources and produces trusted professionalism to accelerate business growth and business development. The logogram's color composition reflects Elnusa's characteristics and core values: green = Clean; red = Respectful; blue = Synergy.

Logotype :

Tulisan ‘Elnusa’ menggunakan huruf Frutiger sain Bd v.1 dengan format huruf kecil (lowercase) dan tebal (bold), hal ini memberi kesan Elnusa ramah dan tegas.The typography of 'Elnusa' uses the font Frutiger sain Bd v.1 in lowercase and bold, this gives the impression of Elnusa as friendly and decisive.



PROFIL DEWAN KOMISARISBoard of Commissioners Profile

KewarganegaraanCitizenship Indonesia

Usia Age

56 tahun per 31 Desember 201956 years old as of December 31, 2019

Riwayat PendidikanEducation Background

• S1 Ekonomi Akuntansi, Universitas Padjajaran, Bandung, Indonesia (1988)• S2 Ekonomi Akuntansi, University of Illinois at Urbana Champaign, USA (1997)• Bachelor in Accounting, Faculty of Economics, Padjajaran University, Bandung, Indonesia (1988)• Master in Accounting, Faculty of Economics, University of Illinois at Urbana Champaign, USA (1997)

Riwayat JabatanOccupational Position HistoryDasar Hukum PenunjukanLegal Basis of Appointment

Akta Berita Acara RUPS No. 36 tanggal 31 Agustus 2018Deed of GMS No. 36 dated August 31, 2018

Pengalaman KerjaWork Experience

• VP Shared Processing Center PT Pertamina (Persero) (2009-2011)• Direktur Keuangan PT Pertamina Geothermal Energy (2011-2013)• Direktur Keuangan dan Umum PT Pertamina Retail (2013-2014)• VP Treasury PT Pertamina (Persero) (2014-2016)• Direktur Keuangan PT Pertamina EP (2017)• SVP Financing & Business Support PT Pertamina (Persero) (2017-2018)• SVP Corporate Finance PT Pertamina (Persero) (2018-2019)• VP of Shared Processing Center of PT Pertamina (Persero) (2009-2011)• Finance Director of PT Pertamina Geothermal Energy (2011-2013)• Finance and General Director of PT Pertamina Retail (2013-2014) • VP of Treasury of PT Pertamina (Persero) (2014-2016) • Finance Director of PT Pertamina EP (2017) • SVP Financing & Business Support of PT Pertamina (Persero) (2017-2018) • SVP Corporate Finance of PT Pertamina (Persero) (2018-2019)

Jabatan RangkapConcurrent Position

• Direktur Utama PT Kilang Pertamina Balikpapan (2019-sekarang)• Komisaris PT Pertamina Power Indonesia (2019-2020)• Direktur Maurel & Prom, Paris (2019-2020)• President Director of PT Kilang Pertamina Balikpapan (2019-present)• Commissioner of PT Pertamina Power Indonesia (2019-2020)• Director Maurel & Prom, Paris (2019-2020)

Hubungan AfiliasiAffiliation

Memiliki hubungan afiliasi dengan Pemegang Saham UtamaHas affiliation with Major Shareholders

Kepemilikan Saham ELSAELSA Share Ownership -

DomisiliDomicile

Jakarta Selatan, D.K.I. JakartaSouth Jakarta, D.K.I. Jakarta


President Commisisoner

Periode Jabatan/Term of Office: 2018-2021, Periode Ke-1/1st Period



Usia Age

63 tahun per 31 Desember 2019 63 years old as of December 31, 2019


• S1 Fisika, Institut Teknologi Bandung, Indonesia (1985) • Bachelor in Physics, Bandung Institute of Technology, Indonesia (1985)


Akta Berita Acara RUPS No. 25 tanggal 14 Mei 2018Deed of GMS No. 25 dated May 14, 2018


• Field Engineer di Schlumberger (1981-2005)• Direktur Operasi PT Saripari Pertiwi Abadi (2005-2008)• Direktur Operasi PT Permata Drilling International (2008-2010)• Direktur Operasi PT Pilar Anggaraksa (2010-2013)• Direktur Operasi PT Elnusa Tbk (2013-2015)• Field Engineer of Schlumberger (1981-2005)• Operation Director of PT Saripari Pertiwi Abadi (2005-2008) • Operation Director of PT Permata Drilling International (2008-2010) • Operation Director of PT Pilar Anggaraksa (2010-2013) • Operation Director of PT Elnusa Tbk (2013-2015)


Tidak memiliki jabatan rangkap pada Perusahaan lainDoes not have any concurrent position at other companies


Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya, Direksi dan Pemegang Saham UtamaHas no affiliation with other members of the Board of Commissioners, Board of Directors and Major Shareholders


DomisiliDomicile

Kota Tangerang Selatan, BantenSouth Tangerang City, Banten

Lusiaga Levi SusilaKomisaris IndependenIndependent Commissioner





Usia Age



• S1 Ekonomi Akuntansi, Universitas Gadjah Mada, Yogyakarta, Indonesia (1982)• S2 Akuntansi dan Finance, Saint Louis University, USA (1986)• Master in Accounting and Finance, Gadjah Mada University, Yogyakarta, Indonesia (1982)• Master in Accounting and Finance, Saint Louis University, USA (1986)


Akta Berita Acara RUPS No. 30 tanggal 11 April 2019Deed of GMS No. 30 dated April 11, 2019


• Pegawai-Pejabat Bapepam-LK (sejak Januari 1983-2013)• Deputi Komisioner Audit Internal, Manajemen Risiko dan Pengendalian Kualitas, Otoritas Jasa

Keuangan (2013-2015)• Anggota Dewan Audit, Otoritas Jasa Keuangan (2015-2017• Bapepam-LK Officials (since January 1983-2013)• Deputy Commissioner for Internal Audit, Risk Management and Quality Control, Financial Services Authority

(2013-2015)• Member of the Audit Board, Financial Services Authority (2015-2017)


• Dosen Magister Management Universitas Gadjah Mada (2002-sekarang)• Komite Audit PT Kustodian Sentral Efek Indonesia (2015-sekarang)• Komisaris Independen PT Waskita Beton Precast Tbk (2018-sekarang)• Komisaris Independen PT Envy Teknologies Indonesia Tbk (2018-sekarang)• Komisaris Independen PT Nikko Sekuritas Indonesia (2018-sekarang)• Lecturer in Management at Gadjah Mada University (2002-present)• Audit Committee of the Indonesian Central Securities Depository (2015-present)• Independent Commissioner of PT Waskita Beton Precast Tbk (2018-present)• Independent Commissioner of PT Envy Teknologies Indonesia Tbk (2018-present)• Independent Commissioner of PT Nikko Sekuritas Indonesia (2018-present)




DomisiliDomicile

Jakarta Timur, D.K.I. JakartaEast Jakarta, D.K.I. Jakarta

Anis BaridwanKomisaris Independen





Usia Age



• S1 Fisika Universitas Gadjah Mada, Yogyakarta, Indonesia (1979)• S2 Geofisika & Geokimia di Universite Joseph Fourier Grenoble, Perancis (1991) • S3 Geofisika & Geokimia di Universite Joseph Fourier Grenoble, Perancis (1992)• Bachelor of Physics at Gadjah Mada University, Yogyakarta, Indonesia (1979)• Masters in Geophysics & Geochemistry at Universite Joseph Fourier Grenoble, France (1991)• Doctor of Geophysics & Geochemistry at Universite Joseph Fourier Grenoble, France (1992)


Akta Berita Acara RUPS No. 30 tanggal 11 April 2019Deed of GMS No. 30 dated April 11, 2019


• Kepala Balai Penyelidikan dan Pengembangan Teknologi Kegunungapian, Kementerian ESDM (2001-2006) • Kepala Pusat Survei Geologi, Badan Geologi, Kementerian ESDM (2007-2008)• Ketua Program World Organization of Volcano Observatories Database, Senior Research Fellow,

Universitas Teknologi Nanyang, Singapore (2009-2013)• Head of the Center for Investigation and Development of Volcano Technology, Ministry of Energy

and Mineral Resources (2001-2006)• Head of the Center for Geological Survey, Geological Agency, Ministry of Energy and Mineral

Resources (2007-2008)• Chairman of the World Organization of Volcano Observatories Database Program, Senior Research

Fellow, Nanyang University of Technology, Singapore (2009-2013)Jabatan RangkapConcurrent Position

Sekretaris Badan Geologi, Kementerian ESDM (2017-sekarang)Secretary of the Geology Agency, Ministry of Energy and Mineral Resources (2017-present)




DomisiliDomicile

Bantul, D.I. YogyakartaBantul, D.I. Yogyakarta

Antonius RatdomopurboKomisarisCommissioner





Usia Age



• S1 Teknik Kimia, Universitas Sriwijaya, Palembang, Indonesia (1989) • S2 Manajemen Universitas Gadjah Mada, Yogyakarta, Indonesia (2008)• Bachelor of Chemical Engineering, Sriwijaya University, Palembang, Indonesia (1989) • Masters in Management from Gadjah Mada University, Yogyakarta, Indonesia (2008)




• Senior Manager Operation & Manufacturing-Refinery Unit V, Balikpapan, PT Pertamina (Persero) (2013-2014)

• GM Refinery Unit V-Balikpapan PT Pertamina (Persero) (2014-2016)• GM Refinery Unit III-Plaju PT Pertamina (Persero) (2016-2017)• VP Refining Business Development, Direktorat Pengolahan PT Pertamina (Persero) (2017-2019)• Senior Manager Operation & Manufacturing- Refinery Unit V, Balikpapan, PT Pertamina (Persero)

(2013-2014)• GM Refinery Unit V-Balikpapan of PT Pertamina (Persero) (2014-2016) • GM Refinery Unit III-Plaju of PT Pertamina (Persero (2016-2017) • VP of Refining Business Development, Directorate of Refinery of PT Pertamina (Persero) (2017-

2019)


VP Supply Chain Planning & Optimization, Integrated Supply Chain PT Pertamina (Persero) (2019-sekarang)VP Supply Chain Planning & Optimization, Integrated Supply Chain PT Pertamina (Persero) (2019-present)


Memiliki hubungan afiliasi dengan Pemegang Saham UtamaHas affiliation with Major Shareholder


DomisiliDomicile

Jakarta Selatan, D.K.I. JakartaSouth Jakarta, D.K.I. Jakarta

Eman Salman AriefKomisaris

Commissioner




UsiaAge



• S1 Teknik Mesin Universitas Indonesia (1988)• S2 Business Administration, Arizona State University (1994)• Bachelor of Mechanical Engineering, University of Indonesia (1988).• Master of Business Administration, Arizona State University (1994).




Menduduki berbagai jabatan di PT Pertamina (Persero) sejak tahun 1990, di antaranya:• Kepala Bagian Kelogistikan di kilang Cilacap, kilang Pangkalan Brandan, kilang Dumai dan

Pengolahan Jakarta (1990-2004)• Manager Supply Chain-PT Pertamina EP Reg. Sumatera (2004-2009)• Manager Procurement Head Office-PT Pertamina EP (2009-2013)• VP SCM & General Services-PT Pertamina EP (2013-2015)• VP SCM-PT Pertamina EP (2015-2017)• Direktur Operasi PT Elnusa Tbk (2017-2019)He has held various positions at PT Pertamina (Persero) since 1990, including:• Head of Logistics Section of Cilacap Refinery, Pangkalan Brandan and Dumai (1990-2004)• Supply Chain Manager-PT Pertamina EP Reg. Sumatra (2004-2009)• Manager of Procurement Head Office-PT Pertamina EP (2009-2013) • VP of SCM & General Services-PT Pertamina EP (2013-2015)• VP of SCM-PT Pertamina EP (2015-2017)• PT Elnusa Tbk Director of Operations (2017-2019)


Tidak memiliki jabatan rangkapDoes not have concurrent position


Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya, Direksi, dan Pemegang Saham UtamaHas no affiliation with other members of the Board of Commissioners, Board of Directors and Major Shareholders


DomisiliDomicile

Tangerang Selatan, BantenSouth Tangerang, Banten

PROFIL DIREKSIBoard of Directors Profile

Elizar Parlindungan HasibuanDirektur UtamaPresident Director

Periode Jabatan/Term of Office: 2019-2022 Periode 1/1st Period




UsiaAge



• S1 Ekonomi Manajemen, Universitas Diponegoro-Semarang (1991)• S2 Manajemen Keuangan & Investasi, Institut Pertanian Bogor (2015)• Bachelor of Management Economics, Diponegoro University-Semarang (1991) • Masters of Financial & Investment Management, Bogor Agricultural Institute (2015)




Memulai karir di Pertamina sejak tahun 1993, dengan menduduki berbagai macam posisi jabatan antara lain:• Manajer Dana Pensiun Pertamina (2009-2011)• Downstream & NonCore SJV Performance Management Manager PT Pertamina (Persero) (2014-2016)• Finance & Services SJV Development Manager PT Pertamina (Persero) (2016)• Direktur Keuangan Dana Pensiun Pertamina (2016-2018)He commenced his career at Pertamina since 1993, and served various positions, including: • Manager of Pertamina Pension Fund (2009-2011) • Downstream & NonCore SJV Performance Management Manager of PT Pertamina (Persero) (2014-

2016)• Finance & Services SJV Development Manager of PT Pertamina (Persero) (2016) • Finance Director of Pertamina Pension Fund (2016-2018)


• Komisaris PT Elnusa Petrofin *)• Komisaris PT Elnusa Geosains *)*) Entitas Anak Perseroan dan bukan Perusahaan Publik• Commissioner of PT Elnusa Petrofin *)• Commissioner of PT Elnusa Geosains *)*) Subsidiaries of the Company and not a Public Company




DomisiliDomicile

Bogor, Jawa BaratBogor, West Java

Hery SetiawanDirektur Keuangan

Finance Director

Periode Jabatan/Term of Office: 2018-2021 Periode 1/1st Period


Arief RiyantoDirektur Pengembangan Usaha merangkap Direktur OperasiBusiness Development Director and Operation Director

Periode Jabatan/Term of Office: 2018-2021-Periode 1/1st Period


UsiaAge



• Sarjana Teknik Mesin, Universitas Gadjah Mada-Yogyakarta (1987)• Bachelor of Mechanical Engineering, Gadjah Mada University-Yogyakarta (1987)




• Mengawali karir sebagai Field Mechanical Engineer-Cengkareng International Airport Phase 2 project, Saint Rap Colas-Waskita Karya Joint Operation (1986-1989)

• Mechanical & Piping Engineer PT Arun LNG di Lhokseumawe (1990-1997)• Project Control Supervisor-PT Badak LNG di Bontang (1997-1998)• Resident Engineer Proyek Front End Engineering Design (FEED) Pertamina LNG Tangguh di Houston (1999-2000)• Asisten Bisnis Manager Proyek Pertamina-BP LNG Tangguh (2001-2003)• Kepala Dinas Fasilitas Konstruksi Darat LNG-BP Migas (2005-2008)• Kepala Pengawas & Pengendali Proyek Banyuurip-Exxon Cepu (2011-2012)• Vice President Management Representative SKK Migas di Pertamina EP (2013)• Kepala Divisi Komersialisasi Gas Bumi SKK Migas (2013-2015)• Kepala Divisi Manajemen Proyek dan Pemeliharaan Fasilitas di Bidang Operasi SKK Migas (2015-2017)• Advisor of Coporate Services Inpex Masela (2017-sekarang)• He started his career as a Field Mechanical Engineer-Cengkareng International Airport Phase 2 project, Saint Rap

Colas-Waskita Karya Joint Operation (1986-1989)• Mechanical & Piping Engineer of PT Arun LNG in Lhokseumawe (1990-1997)• Project Control Supervisor-PT Badak LNG in Bontang (1997-1998)• Pertamina LNG Tangguh Front End Engineering Design (FEED) Resident Engineer Project in Houston (1999-2000)• Business Assistant Manager for Pertamina Project Manager-BP LNG Tangguh (2001-2003)• Head of the LNG Land Construction Facilities Service-BP Migas (2005-2008)• Chief Superintendent & Controller of the Banyuurip Project-Exxon Cepu (2011-2012)• Vice President Management Representative of SKK Migas at Pertamina EP (2013)• Head of SKK Migas Natural Gas Commercialization Division (2013-2015)• Head of Project Management and Facility Maintenance Division in the SKK Migas Operation Area (2015-2017)• Inpex Masela Advisor of Corporate Services (2017-present)


• Komisaris Utama PT Elnusa Trans Samudera *)• Komisaris PT Elnusa Fabrikasi Konstruksi *)• Komisaris PT Elnusa Oilfield Services *)*) Entitas Anak Perseroan dan bukan Perusahaan Publik• President Commissioner of PT Elnusa Trans Samudera *)• Commissioner of PT Elnusa Fabrikasi Konstruksi *)• Commissioner of PT Elnusa Oilfield Services *)*) Subsidiaries of the Company and not a Public Company


Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya, Direksi, dan Pemegang Saham UtamaHas no affiliation with other members of the Board of Commissioners, Board of Directors and Major Shareholders


DomisiliDomicile

D.K.I. JakartaD.K.I. Jakarta




UsiaAge



• S1 Teknik Kimia Universitas Diponegoro (1989)• Bachelor of Chemical Engineering, Diponegoro University (1989)




Menduduki berbagai jabatan di PT Pertamina (Persero) sejak tahun 1990, di antaranya:• Kepala Proses Kontrol-UP V Balikpapan (2000-2007)• Kepala Bagian Perencanaan & Pengembangan UP V Balikpapan (2008)• HR Area Manager-Refinery Unit IV Cilacap (2009-2012)• Manpower Planning & Development Manager - PT Pertamina (Persero) (2013-2015)• Leadership & People Development Manager - PT Pertamina (Persero) (2016-2017)He has held various positions at PT Pertamina (Persero) since 1990, including:• Head of Process Control-UP V Balikpapan (2000-2007)• Head of Planning & Development Section - UP V Balikpapan (2008)• HR Area Manager - Refinery Unit IV Cilacap (2009-2012)• Manpower Planning & Development Manager - PT Pertamina (Persero) (2013-2015)• Leadership & People Development Manage - PT Pertamina (Persero) (2016-2017)


• Komisaris PT Sigma Cipta Utama *)• Komisaris PT Patra Nusa Data *)*) Entitas Anak Perseroan dan bukan Perusahaan Publik• Commissioner of PT Sigma Cipta Utama *) • Commissioner of PT Patra Nusa Data *)*) Subsidiaries of the Company and not a Public Company




DomisiliDomicile

Solo, Jawa TengahSolo, Central Java

R. M. Happy ParinghadiDirektur SDM & Umum

Director of Human Resource & General Affair

Periode Jabatan/Term of Office: 2017-2020, Periode 1/1st Period


Ari WijayaCorporate Secretary

Ganang SoegiyarsoChief of Internal Audit

Ramon Arias PiliVP of HSSE

PROFIL PEJABAT EKSEKUTIFExcecutive Officers Profile

Menjabat sejak 1/11/2019 Serving the position since 1/11/2019KewarganegaraanCitizenship : Warga Negara Indonesia

IndonesiaUsiaAge : 49 tahun per 31 Desember 2019

49 years old as of December 31, 2019DomisiliDomicile : Tangerang, Jawa Barat

Tangerang, West JavaBergabung di ElnusaJoined Elnusa : 12/10/2009

Riwayat PendidikanEducation Background : M.M, Magister Managemen, Universitas Trisakti Jakarta, 2009

Master of Management, Trisakti University Jakarta, 2009

Pengalaman KerjaWork Experience :

Sebelum menempati posisi sebagai Corporate Secretary, beliau menjabat sebagai VP of Property Management & General Affair (2018-2019).Before occupying the position of Corporate Secretary, he served as VP of Property Management & General Affairs (2018-2019).

Dasar Hukum PengangkatanLegal Basis of Employment

: SK No. 016/EN/KPTS/000D/2019

Menjabat sejak 1/11/2019 Serving the position since 1/11/2019KewarganegaraanCitizenship

:Warga Negara IndonesiaIndonesia

UsiaAge

:52 tahun per 31 Desember 201952 years old as of December 31, 2019

DomisiliDomicile

:Tangerang Selatan, Jawa BaratSouth Tangerang, West Java

Bergabung di ElnusaJoined Elnusa

: 2/01/2013


:Akuntan STAN Jakarta, 2005Accounting, Jakarta State Administration College, 2005


:

Sebelum menempati posisi sebagai Chief of Internal Audit, beliau menjabat sebagai Senior Auditor (2013-2019)Before occupying the position of Chief of Internal Audit, he served as Senior Auditor (2013-2019)


: SK No. 016/EN/KPTS/000D/2019



42 years old as of December 31, 2019DomisiliDomicile : Depok, Jawa Barat

Depok, West JavaBergabung di ElnusaJoined Elnusa : 01/10/2003

Riwayat PendidikanEducation Background :

S.E, Ekonomi Studi Pembangunan, Universitas Indonesia, 2001Bachelor of Economics in Development Studies, University of Indonesia, 2001


Sebelum menempati posisi sebagai VP of HSSE, beliau menjabat sebagai VP of Supply Chain Management (2018-2019)Before occupying the position of VP of HSSE, he served as VP of Supply Chain Management (2018-2019)


: SK No. 016/EN/KPTS/000D/2019



Asmal SalamChief of Legal & Compliance

Rony HartantoVP of Production, Operation & Maintenance Service

Dipa MuliaVP of Geoscience & Reservoir Services



50 years old as of December 31, 2019DomisiliDomicile : Jakarta Timur, D.K.I. Jakarta

East Jakarta, D.K.I. JakartaBergabung di ElnusaJoined Elnusa : 01/03/2005

Riwayat PendidikanEducation Background : M.Kn, Kenotariatan, Universitas Indonesia, 2014

M.Kn, Kenotariatan, University of Indonesia, 2014


Sebelum menempati posisi sebagai Chief of Legal & Compliance, beliau menjabat sebagai Chief of Legal & Contract (2016-2019)Before holding the position of Chief of Legal & Compliance, he served as Chief of Legal & Contract (2016-2019)


: SK No. 016/EN/KPTS/000D/2019






S.T, Teknik Elektro, Universitas Gadjah Mada Yogyakarta, 2000Bachelor of Electrical Engineering, Gadjah Mada University Yogyakarta, 2000


Sebelum menempati posisi sebagai VP of Production, Operation & Maintenance Service, beliau menjabat sebagai Managing Director of DOS Service Line (2015-2018)Before occupying the position of VP of Production, Operation & Maintenance Service, he served as Managing Director of DOS Service Line (2015-2018)


: SK No. 016/EN/KPTS/000D/2019



55 years old as of December 31, 2019DomisiliDomicile : Bekasi, Jawa Barat

Bekasi, West JavaBergabung di ElnusaJoined Elnusa : 1/02/2015

Riwayat PendidikanEducation Background : Doktor, Ekonomi, Universitas Padjajaran Bandung, 2009

Doctor, Economics, Padjadjaran University Bandung, 2009


Sebelum menempati posisi sebagai VP of Geoscience & Reservoir Services, beliau menjabat sebagai Corporate Secretary (2018-2019)Before occupying the position of VP of Geoscience & Reservoir Services, he served as Corporate Secretary (2018-2019)


: SK No. 016/EN/KPTS/000D/2019


Achmad ZakiVP of Asset Realibility & Productivity

Hera HandayaniVP of Business Development

Dian NugrahaningsihVP of Marketing






M.M, Magister Management, Prasetiya Mulya Business School Jakarta, 2009Master of Management, Prasetiya Mulya Business School Jakarta, 2009


Sebelum menempati posisi sebagai VP of Asset Realibility & Productivity, beliau menjabat sebagai Direktur Utama EFK (2013-2015)Before occupying the position of VP of Asset Realibility & Productivity, he held the position of President Director of EFK (2013-2015)


: SK No. 016/EN/KPTS/000D/2019



44 years old as of December 31, 2019DomisiliDomicile : Jakarta Selatan, D.K.I. Jakarta

South Jakarta, D.K.I. JakartaBergabung di ElnusaJoined Elnusa : 1/04/2014

Riwayat PendidikanEducation Background : M.M, Magister Management, Universitas Indonesia, 2005

Master of Management, University of Indonesia, 2005


Sebelum menempati posisi sebagai VP of Business Development, beliau menjabat sebagai SM of Quality Management (2018-2019)Before occupying the position of VP of Business Development, she served as SM of Quality Management (2018-2019)


: SK No. 016/EN/KPTS/000D/2019



55 years old as of December 31, 2019DomisiliDomicile : Jakarta Pusat, DKI Jakarta, Indonesia

Central Jakarta, DKI Jakarta, IndonesiaBergabung di ElnusaJoined Elnusa : 10/06/1991

Riwayat PendidikanEducation Background : S1 Fisika, Universitas Indonesia, 1991

Bachelor of Physics, University of Indonesia, 1991


Sebelum menempati posisi sebagai VP of Marketing,beliau menjabat sebagai Division Head of Property Management. (2015-2016)Before occupying the position of VP of Marketing, she served as Division Head of Property Management. (2015-2016)


: SK No.016/EN/KPTS/000D/2019



M. Akbarul Syah AlamVP of Engineering Center & Quality Management

Meljevi BudiaVP of Controller

Yogi FirdausVP of Treasury & Financing






S.T, Teknik Fisika, Institut Teknologi 10 November Surabaya, 2006Bachelor of Physics Engineering, Institut Teknologi November 10, Surabaya, 2006


Sebelum menempati posisi sebagai VP of Engineering Center & Quality Management, beliau menjabat sebagai VP of Business Development (2019)Before occupying the position of VP of Engineering Center & Quality Management, he served as VP of Business Development (2019)

Dasar Hukum PengangkatanLegal Basis of Employment : SK No. 016/EN/KPTS/000D/2019



46 years old as of December 31, 2019DomisiliDomicile : Jakarta Timur, D.K.I. Jakarta

East Jakarta, D.K.I. JakartaBergabung di ElnusaJoined Elnusa : 01/04/2004


S2 Magister Management, Sekolah Tinggi Prasetya Mulya Jakarta, 2007Master of Management, Prasetya Mulya Jakarta, 2007


Sebelum menempati posisi sebagai VP of Controller, beliau menjabat sebagai Direktur PT Elnusa Trans Samudera (2018-2019)Before occupying the position of VP of Controller, he served as Director of PT Elnusa Trans Samudera (2018-2019)







S2 Magister Management, Universitas Bina Nusantara Jakarta, 2009Master of Management, Bina Nusantara University Jakarta, 2009


Sebelum menempati posisi sebagai VP of Treasury & Financing, beliau menjabat sebagai Senior Manager of Financing (2019)Before occupying the position of VP of Treasury & Financing, he served as Senior Manager of Financing (2019)



Hanny Retno HapsariVP of Strategic Planning & Corporate Management

Maryanto MakhdoriSenior Manager of Enterprise Risk Management

A.A.A. Indira PratyaksaVP of Human Capital






S2 Magister Management Sekolah Tinggi Prasetya Mulya Jakarta, 2005Master of Management, Prasetya Mulya Jakarta, 2005


Sebelum menempati posisi sebagai VP of Strategic Planning & Corporate Management, beliau menjabat sebagai Senior Strategic Planning Specialist (2018)Before occupying the position of VP of Strategic Planning & Corporate Management, she served as Senior Strategic Planning Specialist (2018)




54 years old as of December 31, 2019DomisiliDomicile : Banten, Jawa Barat

Banten, West JavaBergabung di ElnusaJoined Elnusa : 01/02/2008

Riwayat PendidikanEducation Background : S2 Magister Manajemen Keuangan STIE IPWI, 2001

Master of Financial Management, STIE IPWI, 2001


Sebelum menempati posisi sebagai Senior Manager of Enterprise Risk Management, beliau menjabat sebagai Department Head of Risk & Performance Management (2013-2014)Before occupying the position of Senior Manager of Enterprise Risk Management, he served as Department Head of Risk & Performance Management (2013-2014)




42 years old as of December 31, 2019DomisiliDomicile : Jakarta Selatan, D.K.I. Jakarta

South Jakarta, D.K.I. JakartaBergabung di ElnusaJoined Elnusa : 05/04/2019


• S1 Psikolog, Universitas Gadjah Mada Yogyakarta, 1995• S2 Psikolog, Universitas Gadjah Mada Yogyakarta, 2000• Bachelor of Psychology, Gadjah Mada University Yogyakarta,

1995• Master of Psychology, Gadjah Mada University Yogyakarta,

2000


Sebelum menempati posisi sebagai VP of Human Capital, beliau menjabat sebagai Manager Manpower Planning PT Pertamina Persero (2018-2019)Before occupying the position of VP of Human Capital, she served as Manpower Planning Manager of PT Pertamina Persero (2018-2019)




Edy EfendiVP of Supply Chain Management

Adi Yatama Adi GunaSenior Manager of Information System

Ina MarvitasariSenior Manager of Elnusa Petroleum School



53 years old as of December 31, 2019DomisiliDomicile : Jakarta Barat, D.K.I. Jakarta

West Jakarta, D.K.I. JakartaBergabung di ElnusaJoined Elnusa : 01/11/2004

Riwayat PendidikanEducation Background : S1 Teknik Sipil, Institut Teknologi Bandung, 1990

Bachelor of Civil Engineering, Bandung Institute of Technology, 1990


Sebelum menempati posisi sebagai VP of Supply Chain Management, beliau menjabat sebagai Staf Ahli Direktur Utama (2016-2019)Before occupying the position of VP of Supply Chain Management, he held the position of Expert Staff to the President Director (2016-2019)




42 years old as of December 31, 2019DomisiliDomicile : Bogor, Jawa Barat

Bogor, West JavaBergabung di ElnusaJoined Elnusa : 16/01/2010


S2 Elektro Teknik, University of Applied Sciences Esslingen Jerman, 2003Master of Science, Electrical Engineering, University of Applied Sciences Esslingen Germany, 2003


Sebelum menempati posisi sebagai Senior Manager of Information System, beliau menjabat sebagai Section Head of System Development (2015-2017)Before occupying the position of Senior Manager of Information System, he served as Section Head of System Development (2015-2017)







S2 Magister Managemen, Universitas Gadjah Mada Yogyakarta, 2008Master of Management, Gadjah Mada University Yogyakarta, 2008


Sebelum menempati posisi sebagai Senior Manager of Elnusa Petroleum School, beliau menjabat sebagai Vice Principal of Training Development (2013-2015)Before occupying the position of Senior Manager of Elnusa Petroleum School, she served as Vice Principal of Training Development (2013-2015)



Human Resources (HR) is an important factor in supporting the Company's sustainability. Proper and sustainable HR management continues to be carried out by the Company in developing quality talents in the midst of increasingly fierce industry competition. The Company realizes that the existence of strong and prominent HR plays a very important role in realizing the Company's vision and mission. To that end, the Company always puts forward the human capital approach which means that HR is a very valuable asset for the Company. The Company views that HR as a strategic partner that must be managed and developed in support of the Company's growth rate.

HR PRODUCTIVITY AND NUMBERSAs of December 31, 2019, the number of the Company's HR was recorded at 1,349 Employees, a decrease of 0.4% compared to the number of the Company's HR as of December 31, 2018 at 1,354 Employees. The dynamic of the number of HR follows the projects managed by the Company, number of HR fluctuates according to the needs of the project. The difference in the number of human resources in 2019 compared to 2018 which experienced a decline is not necessarily proportional to the decline in the projects being managed.

Meanwhile, the total number of human resources of the Company and its subsidiaries as of December 31, 2019 reached 2,206 people, with a total of 857 people. The number of human resources of the Company and its subsidiaries in 2019 was recorded to increase by 8.83%, compared to 2018 which reached 2,027 people.

SUMBER DAYA MANUSIAHuman Resources

Sumber Daya Manusia (SDM) merupakan salah satu faktor penting dalam mendukung keberlanjutan Perseroan. Pengelolaan SDM yang tepat dan berkesinambungan terus dilakukan Perseroan dalam mengembangkan talenta yang berkualitas di tengah persaingan industri yang semakin ketat. Perseroan menyadari bahwa keberadaan SDM yang tangguh dan unggul memegang peranan yang sangat penting guna mewujudkan visi dan misi Perseroan. Untuk itu, Perseroan senantiasa mengedepankan pendekatan human capital yang berarti SDM merupakan aset yang sangat berharga bagi Perseroan. Perseroan memandang bahwa SDM merupakan partner strategis yang harus dikelola dan dikembangkan dalam mendukung laju pertumbuhan Perseroan.

JUMLAH DAN PRODUKTIVITAS SDMPer 31 Desember 2019, jumlah SDM Perseroan tercatat mencapai 1.349 Pekerja, mengalami penurunan 0,4% dibandingkan jumlah SDM Perseroan per 31 Desember 2018 yang sebanyak 1.354 Pekerja. Dinamika jumlah SDM mengikuti proyek yang dikelola oleh Perseroan, sehingga jumlah SDM mengalami fluktuasi sesuai dengan kebutuhan proyek. Perbedaan jumlah SDM tahun 2019 dibanding tahun 2018 yang mengalami penurunan belum tentu berbanding searah dengan penurunan proyek yang dikelola.

Pergerakan Jumlah SDM Perseroan dalam 3 (Tiga) Tahun Terakhir 2017-2019The Movement of the Company's HR in the Last 3 (Three) Years 2017-2019

1.354

1.085

1.349

2017

2018

2019

Sementara, total jumlah SDM Perseroan dan entitas anak Perseroan per 31 Desember 2019 mencapai 2.206 orang, dengan jumlah SDM entitas anak Perseroan sebanyak 857 orang. Jumlah SDM Perseroan dan entitas anak di tahun 2019 tercatat meningkat 8,83%, dibanding tahun 2018 yang mencapai 2.027 orang.



Pergerakan Jumlah SDM Perseroan dan Entias Anak dalam 3 (Tiga) Tahun Terakhir 2017-2019The Movement of the Company's HR and Subsidiaries in the Last 3 (Three) Years 2017-2019

1.3491.354

1.085

2017

2018

2019

ENHOOil

APGas

676

673 857

Adapun tingkat produktivitas SDM yang dihitung berdasarkan Revenue, Laba Operasi dan Laba Bersih dibandingkan dengan jumlah SDM secara konsolidasi selama 3 (tiga) tahun terakhir adalah sebagaimana terlampir di bawah ini.

Tingkat Produktivitas SDM 2017-2019Human Resources Productivity Rate 2017-2019

UraianDescription

ProduktivitasProductivity

(Rp-juta) (Rp-million)

PertumbuhanGrowth

(%)2019 2018 2017 2019 2018 2017

Revenue per Jumlah SDMRevenue per Number of HR 3.796 3.268 2.823 16,2 16,0 34,2

Laba Operasi per Jumlah SDMOperating Income per Number of HR 242 188 195 28,6 (3,6) (19,8)

Laba Bersih per Jumlah SDMNet Income per Number of HR 162 142 135 13,9 5,2 27,0

Secara umum, produktifitas SDM Perseroan mengalami peningkatan selama 3 (tiga) tahun terakhir. Ditinjau dari sisi/per Jumlah SDM, tingkat produktivitas SDM pada tahun 2019 mengalami peningkatan, yaitu sebesar 16,2%, tingkat produktifitas SDM meningkat sebesar 28,6% dari tahun 2018. Sedangkan dari segi Laba Bersih per Jumlah SDM, tingkat produktifitas SDM meningkat tajam yaitu sebesar 13,9%.

PROFIL DAN KOMPOSISI SDMJumlah dan komposisi SDM Perseroan telah sesuai dengan strategi dan kebutuhan bisnis Perseroan berdasarkan arahan Pemegang Saham. Seiring dengan berbagai tantangan dan perkembangan bisnis saat ini, Perseroan melakukan beberapa penguatan dalam pengelolaan SDM agar lebih efektif dan efisien guna menciptakan SDM unggul agar dapat beradaptasi dengan perkembangan lingkungan bisnis yang kerap berubah. Dimana Perseroan terus berupaya memperkuat komposisi SDM sesuai dengan kebutuhan dan perkembangan bisnis saat ini.

The level of HR productivity calculated based on Revenue, Operating Profit and Net Profit compared to the number of people on a consolidated basis over the past 3 (three) years is as attached below.

In general, the Company's HR productivity has increased over the past 3 (three) years. In terms of Revenue per Total HR, the level of HR productivity in 2019 has increased, namely by 16.2%, the level of HR productivity increased by 28.6% from 2018. While in terms of Net Income per Number of HR, the level of HR productivity increased sharp that is equal to 13.9%.

HUMAN RESOURCE PROFILE AND COMPOSITIONThe number and composition of the Company's HR are in accordance with the strategy and business needs of the Company based on the directions of the Shareholders. Along with various challenges and current business developments, the Company has made several strengthening in HR management to be more effective and efficient in order to create the best HR so that they can adapt to the development of a changing business environment. The Company continues to strengthen the composition of HR in accordance with the needs and current business development.


Berikut uraian terkait profil komposisi SDM Perseroan dalam 3 (tiga) tahun terakhir, berdasarkan jenjang jabatan, core function, status kepegawaian, tingkat pendidikan, rentang usia, generasi usia, dan gender atau jenis kelamin.

Komposisi SDM Berdasarkan Jenjang Jabatan (Orang)HR Composition Based on Position Level (Person)

Jenjang JabatanPosition Level

2019 2018 2017

JumlahTotal

PersentasePercentage

(%)

JumlahTotal


(%)

JumlahTotal


(%)DirekturDirector 4 0,3 5 0,4 5 0,5

Vice President & Fungsional SetaraVice President & Equivalent 13 1,0 9 0,7 9 0,9

Senior Manager & Fungsional SetaraSenior Manager & Equivalent 29 2,1 26 1,9 29 2,7

Manager & Fungsional SetaraManager & Equivalent 115 8,5 67 4,9 70 6,1

Junior Manager & Fungsional SetaraJunior Manager & Equivalent 232 17,2 243 17,9 227 20,1

SupervisorSupervisor 266 19,7 448 33,1 378 34,8

StafStaff 570 42,3 478 35,3 383 31,6

KonsultanConsultant 4 0,3 76 5,6 43 3,3

JumlahTotal 13 100,0 1.354 100,0 1.085 100,0

Perseroan dapat menjaga komposisi Pekerja secara jumlah disetiap jenjang jabatan, hal ini ditunjukan mayoritas pekerja berada pada level staff dan supervisor atau dikatakan berbentuk piramida. Sehingga dalam hal ini Perseroan berhasil dalam menjaga efektifitas organisasi.

Komposisi SDM Berdasarkan Core Function (Orang)HR Composition Based on Core Function (Person)

Core Function

2019 2018 2017

JumlahTotal


(%)

JumlahTotal


(%)

JumlahTotal


(%)OperasiOperations 1.140 84,5 1.033 76,3 860 72,8

Shared Service 209 15,5 321 23,7 284 27,2JumlahTotal 1.349 100,0 1.354 100,0 1.085 100,0

Perseroan memfokuskan kegiatan operasi untuk mendukung penyelesaian proyek-proyek dari customer Perseroan dan mengatur komposisi support function lebih kecil daripada core function melalui dukungan digital transformasi yang dilakukan secara berkesinambungan. Hal ini dibuktikan dengan Perseroan mendapatkan penghargaan Top Digital Implementation 2019 on Energy and Mining Sector, Top Digital Transformation Readiness 2019, dan Top Leader on Digital implementation 2019 dari Top Digital Award 2019. Keberhasilan Perseroan menjaga komposisi ini menunjukkan efektifitas pengembangan bisnis dan optimalisasi biaya operasional Perseroan dari sisi biaya SDM.

The following is a description related to the profile of the composition of the Company's HR in the last 3 (three) years, based on rank, core function, employment status, education level, age range, age generation, and gender.

The Company can maintain the composition of the Employees in numbers at each level of position, this is indicated by the majority of employees at the staff and supervisor levels or in the form of a pyramid. In this case the Company succeeds in maintaining the effectiveness of the organization.

The Company focuses its operational activities to support the completion of projects from the Company's customers and regulates the composition of the support function to be smaller than the core function through digital support that is carried out continuously. This is proven by the Company getting the 2019 Top Digital Implementation award in the Energy and Mining Sector, the 2019 Digital Transformation Readiness Top, and the 2019 Top Leader in Digital Implementation from the 2019 Top Digital Award. The success of the Company in maintaining this composition shows the effectiveness of business development and optimization of the Company's operational costs in terms of HR costs.



Komposisi SDM Berdasarkan Status Kepegawaian (Orang)HR Composition Based on Employment Status (Person)

Status Kepegawaian

2019 2018 2017

Employment StatusJumlahTotal


(%)

JumlahTotal


(%)

JumlahTotal


(%)Tetap 967 71,7 964 71,2 913 86,3 PermanentKontrak 382 28,3 390 28,8 231 13,7 ContractJumlah 1.349 100,0 1.354 100,0 1.085 100,0 Total

Komposisi SDM berdasarkan status kepegawaian tahun 2019 dan 2018 relatif tidak mengalami perubahan, yaitu Pekerja tetap di angka 71% dan kontrak 28%. Perseroan berhasil menjaga komposisi sesuai dengan nature bisnis Perseroan yang didominasi project based.

Komposisi SDM Berdasarkan Tingkat Pendidikan (Orang)HR Composition Based on Education Level (Person)

Tingkat Pendidikan

2019 2018 2017

Education LevelJumlahTotal


(%)

JumlahTotal


(%)

JumlahTotal


(%)> Strata 2 (S2) 103 7,6 97 7,2 89 8,1 Master (S2)Strata 1 (S1) 836 62,0 731 54,0 687 61,1 Bachelor (S1)Diploma 114 8,5 113 8,3 103 9,3 Diploma< SMA 296 21,9 413 30,5 265 21,5 < High SchoolJumlah 1.349 100,0 1.354 100,0 1.085 100,0 Total

Menjawab tuntutan bisnis dan operasi maka diperlukan tenaga kerja yang memiliki skill yang matang berdasarkan tingkat pendidikannya, sehingga di tahun 2019 Perseoran tidak banyak merekrut pekerja dengan latar belakang Pendidikan SMA karena tuntutan bisnis dan operasi harus di dukung oleh pekerja dengan kapabilitas minimal Diploma. Dengan pertumbuhan komposisi SDM yang lebih tinggi di tingkat pendidikan S2 maupun S1 menunjukan kompleksitas bisnis Perseroan yang makin meningkat.

Komposisi SDM Berdasarkan Rentang Usia (Orang)HR Composition Based on Age Range (Person)

Rentang Usia

2019 2018 2017

Age JumlahTotal


(%)

JumlahTotal


(%)

JumlahTotal


(%)>55 19 1,4 21 1,6 20 0,9 >5551-55 120 8,9 112 8,3 88 8,6 51-5546-50 161 11,9 171 12,6 124 11,6 46-5041-45 191 14,2 223 16,5 172 16,6 41-4536-40 277 20,5 270 19,9 179 16,3 36-4031-35 312 23,1 323 23,9 256 23,5 31-3526-30 217 16,1 219 16,2 263 21,4 26-3021-25 52 3,9 15 1,1 42 1,1 21-25<20 - - - - - - <20Jumlah 1349 100,0 1.354 100,0 1.085 100,0 Total

Ditinjau dari usia Pekerja, sampai dengan tahun 2019 mayoritas Pekerja berada pada usia produktif yaitu usia 26-45 tahun. Kondisi ini secara berkelanjutan diharapkan dapat menjadi pendorong produktifitas Perseroan.

The composition of human resources based on employment status in 2019 and 2018 remained relatively unchanged, namely permanent employees at 71% and contract at 28%. The Company has succeeded in maintaining composition in accordance with the Company's business nature which is dominated by project based.

Responding to the demands of business and operations, it is necessary to have workers who have mature skills based on their level of education, In 2019 the Company did not recruit many employees with high school education background because business and operational demands must be supported by employees with minimum Diploma capabilities. With the growth in the composition of the higher human resources at the Masters and Bachelor's level, the Company's business complexity is increasing.

Judging from the age of the Employees, up to 2019 the majority of Employees are in the productive age, namely the age of 26-45 years. This condition is expected to sustainably drive the Company's productivity.


Komposisi SDM Berdasarkan Generasi Usia (Orang)HR Composition Based on Age Generation (Person)

Generasi UsiaAge Generation

2019 2018 2017

JumlahTotal


(%)

JumlahTotal


(%)

JumlahTotal


(%)GEN Z (1995-2012) 34 2,5 5 0,4 - -GEN Y (1982-1995) 736 54,6 689 50,9 561 50,1GEN X (1965-1981) 542 40,2 601 44,4 500 44,4Baby Boomers (1946-1964) 37 2,7 59 4,4 83 5,4Jumlah/Total 1.349 100,0 1.354 100,0 1.085 100,0

Komposisi Gen Y yang mayoritas mengharuskan Perseroan menciptakan budaya organisasi yang kuat, dengan menyediakan Work Life Balance Program dan sarana untuk mengeluarkan kemampuan yang terkait teknologi, ide dan inovasi sehingga mereka dapat dioptimalkan. Hal ini dibuktikan dengan beberapa pekerja Gen Y sudah menduduki posisi kunci (2 dari 11 posisi Vice President). Selain itu Perseroan juga telah menyediakan program Corporate Innovation Incubator (AGNI) untuk mewadahi Gen Y mengekspresikan ide-ide kreatif dan inovatif.

Komposisi SDM Berdasarkan Gender/Jenis Kelamin (Orang)HR Composition Based on Gender (Person)

Jenis Kelamin

2019 2018 2017

GenderJumlahTotal


(%)

JumlahTotal


(%)

JumlahTotal


(%)Laki-laki 1.212 89,8 1.238 91,4 1.025 89,8 MalePerempuan 137 10,2 116 8,6 119 10,2 FemaleJumlah 1.349 100,0 1.354 100,0 1.085 100,0 Total

Perseroan telah memiliki inisiatif untuk mengimplementasikan kesetaraan gender dan pemberdayaan perempuan di tempat kerja. Hal itu di wujudkan dengan adanya peningkatan komposisi perempuan di jajaran manajemen (4 dari 11 Vice President). Selain itu, beberapa pekerjaan operasional sudah dapat dilakukan oleh pekerja perempuan karena didukung oleh pengembangan teknologi.

STRATEGI PENGELOLAAN DANPENGEMBANGAN SDMPengelolaan SDM di lingkungan Perseroan dilakukan sesuai dengan Road Map & Programs yang ada di Divisi SDM, yang difokuskan pada Organization & Development, Talent Management, Compensation & Benefit, Human Resource Management Services, Human Capital System dan Industrial Relation.

Menjawab tantangan bisnis tahun 2019, maka Perseroan melanjutkan strategi pengembangan SDM sebagai berikut:1. Membentuk Multi Talented Employee 2. Membangun budaya kinerja tinggi3. Otomasi proses pengelolaan SDM Perseroan

Diharapkan dengan pelaksanaan strategi SDM tersebut, SDM Perseroan dapat menjadi penyokong utama atas keberhasilan Perseroan dalam mempertahankan dan meningkatkan bisnisnya di tahun-tahun yang akan datang. Beberapa strategi pengelolaan SDM yang diimplementasikan pada tahun 2019 adalah sebagai berikut:

The majority composition of Gen Y require the Company to create a strong organizational culture, by providing a Work Life Balance Program and a means to bring out capabilities related to technology, ideas and innovation so that they can be optimized. This is evidenced by several Gen Y employees already occupying key positions (2 out of 11 Vice President positions). In addition, the Company has also provided a Corporate Innovation Incubator (AGNI) program to facilitate Gen Y to express creative and innovative ideas.

The Company has initiatives to implement gender equality and empower women in the workplace. This was realized by an increase in the composition of women in the management (4 of 11 Vice Presidents). In addition, some operational work can already be done by female employees because it is supported by technology development.

HR MANAGEMENT AND DEVELOPMENT STRATEGY

HR management within the Company is carried out in accordance with the Road Map & Programs in the HR Division, which are focused on Organization & Development, Talent Management, Compensation & Benefits, Human Resource Management Services, Human Capital Systems and Industrial Relations.

Answering business challenges in 2019, the Company continues the HR development strategy as follows:1. Form a Multi Talented Employee2. Build a high-performance culture3. Automation of the Company's HR management process

It is expected that with the implementation of the HR strategy, the Company's HR can be a major supporter of the Company's success in maintaining and improving its business in the years to come. Some HR management strategies implemented in 2019 are as follows:



ORGANIZATION & DEVELOPMENTPenyusunan dan perubahan organisasi merupakan salah satu konsekuensi dari perubahan yang dilakukan dalam mencapai kinerja Perusahaan yang optimal. Dalam lingkungan yang berubah dengan cepat, organisasi harus mampu menyesuaikan diri dengan cepat dan sefleksibel mungkin guna mendukung kebutuhan bisnis perusahaan saat ini dan yang akan datang. Proses-proses yang menjadi bagian yang tidak terpisahkan dari pengelolaan organisasi dan pengembangan SDM antara lain:

Manpower PlanningSeiring dengan perkembangan bisnis global dan dalam usaha membentuk Elnusa grup menjadi sebuah identitas korporasi, maka diperlukan langkah-langkah komprehensif yang salah satunya adalah membuat perencanaan tenaga kerja menjadi lebih terintegrasi di Perseroan. Perencanaan tenaga kerja secara terintegrasi di Perseroan akan mendukung pencapaian target bisnis korporasi.

Jumlah Kebutuhan Pekerja Dianalisis Berdasarkan Strategi Manpower Planning for Sustainability and GrowthTotal Employee Needs are Analyzed Based on the Manpower Planning Strategy for Sustainability and Growth

Manpower Planning 2018 2019 2020Sustainability 7 15 18Growth for New Business 42 85 99Growth Based on Project 336 544 598JumlahTotal 385 644 715

Selain Manpower Planning for Sustainability and Growth, Perseroan juga melakukan pengelolaan manpower untuk mengisi struktur organisasi eksisting dan mengelola prosentase posisi vacant (maksimal 10%).

Recruitment ManagementDalam rangka menyiapkan SDM yang dibutuhkan untuk menunjang pertumbuhan organisasi dalam mencapai visi dan misi, Perseroan melakukan kajian terkait rencana kebutuhan SDM dengan mempertimbangkan arah pengembangan bisnis jangka panjang, produktivitas, kapasitas, dan kapabilitas. Proses rekrutmen dilaksanakan sesuai prosedur seleksi yang telah ditentukan, serta dilakukan secara independen, transparan, dan objektif. Perseroan memberikan kesempatan berkarir kepada masyarakat luas secara terbuka dan selektif, tanpa memandang unsur suku, agama, ras, dan gender atau jenis kelamin.

Sepanjang tahun 2019, Perseroan melakukan rekrutmen SDM sebanyak 386 orang. Angka tersebut meningkat sebesar 16,3% dibanding tahun 2018 yang sebesar 332 orang. Peningkatan tersebut terjadi karena adanya project baru di PT Elnusa khususnya project PHE ONWJ yang mengharuskan perektutan Pekerja untuk project PHE ONWJ di kontrak secara langsung.

Pada periode 2019, Perseroan melakukan penerimaan SDM baru untuk memenuhi kebutuhan kegiatan usaha Perseroan dengan rincian sebagai berikut:

ORGANIZATION & DEVELOPMENTOrganizational development and change is one of the consequences of changes made in achieving optimal Company performance. In a rapidly changing environment, organizations must be able to adapt quickly and flexibly as possible to support the company's current and future business needs. The processes that are an integral part of organizational management and HR development include:

Manpower PlanningAlong with the development of global business and in the effort to form the Elnusa group into a corporate identity, comprehensive steps are needed, one of which is to make workforce planning more integrated in the Company. Integrated workforce planning in the Company will support the achievement of corporate business targets.

In addition to Manpower Planning for Sustainability and Growth, the Company also manages manpower to fill the existing organizational structure and manage the percentage of vacant positions (maximum 10%).

Recruitment ManagementIn order to prepare the HR needed to support the organization's growth in achieving its vision and mission, the Company conducts a study related to the HR needs by considering the direction of long-term business development, productivity, capacity and capability. The recruitment process is carried out in accordance with predetermined selection procedures, and is carried out independently, transparently, and objectively. The Company provides career opportunities to the wider community openly and selectively, regardless of ethnicity, religious, racial and gender elements.

During 2019, the Company recruited 386 people. That number increased by 16.3% compared to 2018 which amounted to 332 people. The increase occurred because of a new project at PT Elnusa, especially the PHE ONWJ project that requires employee recruitment for the PHE ONWJ project to be contracted directly.

In 2019, the Company accepted new employees to meet the needs of the Company's business activities with the following details:


Uraian JumlahTotal Description

SDM 2018 1.354 2018 HR

Pekerja yang Direkrut di 2019 386 Employees Recruited in 2019SDM yang Berakhirnya Hubungan Kerja (391) Employees Terminated• Pensiun 17 Pension• Atas Permintaan Sendiri 39 Personal Request• Berakhir Kontrak 335 End of Employment ContractJumlah SDM Akhir Tahun 2019 1.349 Total HR by the End of 2019

TALENT MANAGEMENTKebijakan pengelolaan Talent Perseroan diarahkan untuk menyediakan SDM yang memiliki kemampuan di beberapa bidang (multi skill). Upaya ini juga merupakan inisisasi Perseroan untuk mempersiapkan SDM unggul yang mampu beradaptasi dengan dinamika perkembangan bisnis yang kerap berubah. Sistem pengembangan SDM berbasis Talent Management ini dilakukan agar dapat mendukung kegiatan operasi Perseroan sekaligus menjaga kesinambungan bisnis Perseroan. Program pengembangan SDM dilakukan dengan metode Blended Learning yang melibatkan atas coach dari internal maupun eksternal yang sudah dikelola dengan menggunakan aplikasi berbasis online (Elnusa Coaching and Mentoring Application). Berikut program dan pelaksanaan pengembangan Talent yang dilakukan pada tahun 2019:

Successor PlanningStrategi dan rencana untuk mendapatkan calon pemimpin Perseroan dilakukan secara komprehensif melalui pengembangan potensi, talenta, dan kemampuan yang dimiliki oleh pekerja yang termasuk dalam Talent Pool. Setiap posisi kunci harus memiliki setidaknya 3 (tiga) Successor List yang dipilih melalui proses Talent Management yang komprehensif. Fungsi SDM bertanggung jawab untuk membantu memfasilitasi para successor untuk mengembangkan segala kemampuan terkait career success factor (Soft Competency, Technical Competency, Exposure, dan Character). Ditahun 2019, ketersediaan suksesor atas posisi kunci mencapai 90% dan seluruh posisi kunci diisi oleh successor yang telah ditetapkan.

Pengelolaan KompetensiSejalan dengan perkembangan dan tuntutan bisnis, Perseroan selalu berupaya memastikan pengelolaan dan pengembangan Sumber Daya Manusia (SDM) berbasis kompetensi yang sejalan dengan visi, misi, dan strategi Perseroan.

Pengelolaan SDM berbasis kompetensi di Perseroan tidak hanya mencakup kompetensi teknis tetapi juga kompetensi perilaku, profil karekteristik kepribadian dan eksposur tugas yang ditujukan untuk memastikan tersedianya Sumber Daya Manusia (SDM) yang mampu bersaing. Dalam hal ini Perseroan telah melakukan identifikasi kamus kompetensi teknis, Kebutuhan Kompetensi Jabatan (KKJ), dan pengukuran kompetensi teknis pekerja pada tahun 2019.

TALENT MANAGEMENTThe Company's Talent management policy is directed at providing HR who has capabilities in several fields (multi-skill). This effort is also an initiative of the Company to prepare the best human resources able to adapt to the dynamics of changing business developments. The Talent Management-based HR development system is carried out in order to support the Company's operational activities while maintaining the Company's business sustainability. The HR development program is carried out using the Blended Learning method which involves both internal and external coaches that have been managed using an online-based application (Elnusa Coaching and Mentoring Application). The Following are the programs and implementation of Talent development conducted in 2019:

Successor PlanningStrategies and plans to obtain prospective leaders of the Company are carried out comprehensively through developing the potential, talents and abilities possessed by workers who are included in the Talent Pool. Each key position must have at least 3 (three) Successor Lists selected through a comprehensive Talent Management process. The HR function is responsible for helping facilitate successors to develop all capabilities related to career success factors (Soft Competency, Technical Competency, Exposure, and Character). In 2019, the availability of successors for key positions reached 90% and all key positions were filled by predetermined successors.

Competency ManagementIn line with developments and business demands, the Company always strives to ensure competency-based management and development of Human Resources (HR) in line with the Company's vision, mission, and strategy.

Competency-based HR management in the Company includes not only technical competencies but also behavioral competencies, personality profiles and task exposures aimed at ensuring the availability of competent Human Resources (HR). In this case the Company has identified a technical competency dictionary, Job Competency Needs (KKJ), and measurement of technical competence of employees in 2019.



Perseroan juga telah melakukan pengukuran kompetensi pekerja secara bertahap dengan menggunakan beberapa pendekatan antara lain self assessment, panel assessment, dan assessment center. Hasil pengukuran kompetensi akan digunakan sebagai bagian dari acuan dalam pembinaan pekerja.

Pengelolaan behaviour competency di Perseroan mengacu pada ketentuan behavior competency yang berlaku di Kementerian BUMN yang dibagi berdasarkan kategori level Pekerja:1. Operational Leader Assessment Survey2. Strategic Leader Assessment Survey

Hampir seluruh Pekerja di Perseroan telah memiliki hasil pengukuran behaviour competency sesuai dengan levelnya masing-masing. Selain behaviour competency Perseroan perlu mengelola technical competency guna memastikan Pekerja memiliki kapabilitas teknis yang mendukung pencapaian strategi Perseroan. Pengukuran technical competency dilakukan dengan metode presentasi, pengamatan perilaku di tempat kerja, sertifikasi maupun jalur pendidikan lanjutan (S2 dan S3).

Talent MappingPemetaan pekerja bertalenta dilakukan dengan mengidentifikasi Pekerja di Perseroan ke dalam Talent Matriks, yang mengacu pada kompetensi, kinerja, aspirasi serta karakter Pekerja. Pemetaan ini berguna untuk memastikan Talent dapat ditempatkan sesuai dengan strategi bisnis Perseroan, serta memastikan program pengembangan sesuai dengan kebutuhan spesifik yang telah diidentifikasi, sehingga pengembangan Pekerja menjadi lebih fokus dan efisien. Selama tahun 2019 fungsi Human Capital telah melakukan pemetaan Talent Pool sebanyak 469 Pekerja dari 1.349 total Pekerja, yang dikelompokkan dalam kategori:1. High Flyer2. High Performer3. High Potential4. Key Performer

Elnusa Multitalent Development Program (EMDP)EMDP merupakan metode pengembangan kompetensi Pekerja untuk mempersiapkan Multi Talented People di Perseroan, dalam rangka mendukung visi Perseroan untuk menjadi perusahaan jasa energi terkemuka yang memberikan solusi total atas kebutuhan customer. Program telah dilaksanakan sejak Tahun 2018 yang dikelola secara berkelanjutan. Metode pengembangan pada EMDP mencakup in class training, sharing session, studi literatur, coaching, & mentoring serta penugasan dalam proyek strategis perusahaan. EMDP terdiri dari 4 kelompok yaitu:

The Company has also measured workers' competency in stages using a number of approaches including self assessment, panel assessment, and assessment center. The results of competency measurement will be used as part of the reference in coaching workers.

Managing competency behavior in the Company refers to the behavior competency provisions applied by the Ministry of State Owned Enterprieses, which are divided according to the Employee level:1. Operational Leader Assessment Survey2. Strategic Leader Assessment Survey

Almost all employees in the Company have the results of measuring competency behavior in accordance with their respective levels. In addition to behavior competency, the Company needs to manage technical competency to ensure that employees have technical capabilities that support the achievement of the Company's strategy. The measurement of technical competency is carried out by the method of presentation, observation of workplace behavior, certification and further education (Master's and Doctoral's).

Talent MappingThe mapping of talented employees is done by identifying Employes in the Company into the Talent Matrix, which refers to the competencies, performance, aspirations and character of the Employees. This mapping is useful to ensure Talent can be placed in accordance with the Company's business strategy, as well as ensuring development programs in accordance with the specific needs that have been identified, so that employee development becomes more focused and efficient. During 2019 the Human Capital function conducted a Talent Pool mapping of 469 Employees out of 1,349 total Employees, which are grouped into categories:1. High Flyer2. High Performer3. High Potential4. Key Performers

Elnusa Multitalent Development Program (EMDP)EMDP is a method of developing employee competencies to prepare Multi Talented People in the Company, in order to support the Company's vision to become a leading energy service company that provides total solutions for customer needs. The program has been implemented since 2018 which is managed on an ongoing basis. Development methods at EMDP include in-class training, sharing sessions, literature studies, coaching, & mentoring as well as assignments in corporate strategic projects. The EMDP consists of 4 groups:


Memperkuat teknikal dan pemahaman mengenai businessprocess perusahaan

Strengthening technical and understanding of the company’s business processes

Memperdalam kompetensi teknikal dan mengembangkan dasar kepemimpinan karyawan

Deepening technical competence and developing the foundation of employee leadership

Meningkatkan kompetensi teknikal di luar skillgroup dan mengembangkan kom-petensi kepemimpinan sebagai suksesor inter-nal perusahaan

Increasing technical competence outside the skill group and developing competence Leadership as the Company internal successor

Mempertajam kompe-tensi kepemimpinan, pola pikir strategis dan visioner sebagai sukse-sor internal & eksternal (Pertamina Group)

Sharpening leadership competencies, strategic and visionary mindset as internal & external successors (Pertamina Group)

19 orang/people 22 orang/people 23 orang/people 24 orang/people

Jumlah PesertaNumber of Participant

Program ObjectivesObjective Program

KOMPETENSI PERILAKUBEHAVIORAL COMPETENCY

KOMPETENSI TEKNIKALTECHNICAL COMPETENCY EARLY

BASIC

INTERMEDIATE

ADVANCE

Elnusa AcademySelama tahun 2019, Perseroan menyelenggarakan 3 (tiga) Program Elnusa Academy untuk peningkatan kompetensi teknis melalui metode blended learning (10% in class training, 20% coaching mentoring, dan 70% assignment), yaitu:1. Production, Operation, Maintenance Services (POMS)

AcademyPOMS Academy merupakan program pengembangan kompetensi project dan prospek bisnis di divisi POMS terutama pada bisnis Engineering, Procurement and Construction Operation Maintenance (EPC OM), Hydraulic Workover Services dan project TA (Turn Around). Pada tahun 2019 POMS Academy baru dapat dilaksanakan untuk bisnis EPC OM dan Hydraulic Workover Services dengan jumlah peserta sebanyak 43 Pekerja.

2. Supply Chain Management (SCM) AcademySCM Academy merupakan program pengembangan kompetensi teknis untuk memperkuat kompetensi Supply Chain Management bagi Pekerja eksisting di divisi SCM dalam rangka mengantisipasi tuntutan bisnis perusahaan ke depan serta sekaligus menyiapkan program akselerasi dalam pembinaan karir pekerja. Program SCM Academy ini diikuti oleh 48 Pekerja.

3. Papuan AcademySebagai bentuk kepedulian Perseroan terhadap tenaga kerja yang berada di wilayah Indonesia Timur dan untuk mendukung penyelesaian proyek Perseroan yang berlokasi di Papua, maka Perseroan merekrut dan melaksanakan pre-employment training bagi tenaga kerja yang bersasal dari Papua. Pekerja dididik selama 2 (dua) bulan, dengan

Elnusa AcademyThroughout 2019, the Company held 3 (three) Elnusa Academy Programs to improve technical competence through blended learning methods (10% in class training, 20% coaching mentoring, and 70% assignment), namely:1. Production, Operation, Maintenance Services (POMS)

AcademyPOMS Academy is a project competency development program and business prospects in the POMS division, especially in the Engineering, Procurement and Construction Operation Maintenance (EPC OM), Hydraulic Workover Services and TA (Turn Around) projects. In 2019 the new POMS Academy was implemented for the EPC OM business and Hydraulic Workover Services with a total of 43 Workers.

2. Supply Chain Management (SCM) Academy

SCM Academy is a technical competency development program to strengthen Supply Chain Management competencies for existing Employees in the SCM division in order to anticipate the company's business demands going forward and at the same time prepare an acceleration program in fostering employee's career. The SCM Academy program was joined by 48 Workers.

3. Papuan AcademyAs a form of the Company's concern for employees in Eastern Indonesia and to support the completion of the Company's projects located in Papua, the Company recruits and conducts pre-employment training for migrant workers from Papua. Employees are educated for 2 (two) months, using in-class training and on the job training methods in



metode in-class training dan on the job training di proyek OM yang relevan. Peserta Papuan Academy berjumlah 20 orang dengan fokus pengembangan kompetensi di bidang Mechanical dan Electrical Engineering. Di tahun 2025 prosentase lokal Papua yang mendukung proyek di area Papua akan diupayakan mencapai 85% dari total Pekerja proyek.

Learning ProgramMulai tahun 2019, Perseroan mencanangkan target rata-rata jam pembelajaran sebesar 100 jam untuk setiap Pekerja. Aktivitas pembelajaran yang dilakukan meliputi pelatihan, sharing session, coaching, dan mentoring, self study, mobile learning, leader forum, program CIP (Continous Improvement Program) dan E-Learning. Penyelenggaraan pengembangan kompetensi dalam bentuk pelatihan di lingkungan Perseroan dilakukan oleh Elnusa Petroleum School (EPS). EPS bertanggung jawab memastikan penyelenggaraan program pelatihan dan pembelajaran, melakukan review terhadap kompetensi setelah proses pelatihan, dan memastikan adanya dokumentasi serta pemutakhiran materi knowledge management dalam rangka mendukung peningkatan kompetensi SDM Perseroan. Adapun jumlah jam pelatihan dan pembelajaran yang dilakukan selama periode 3 (tiga) tahun terakhir dapat dilihat dalam tabel berikut:

Jam (Man Hour)

Pertumbuhan Man Hour PelatihanGrowth of Man Hour Training

(%)2019 2018 2017 2019 2018 2017

152.918 73.247 55.036 109% 33,1% (19,4)

73.247

55.036

152.918

2017 2018 2019

JamMan Hour

PertumbuhanGrowth

33,1%

109%

(19,4)%

Tabel di atas menunjukkan adanya peningkatan jam pembelajaran yang signifikan karena adanya penambahan aktivitas pembelajaran yang cukup beragam.

Perseroan berkomitmen untuk terus meningkatkan nilai tambah bagi SDM yang dibuktikan dengan komitment untuk melaksanakan pengembangan SDM secara berkelanjutan. Realisasi biaya pengembangan kompetensi SDM pada tahun 2019 tercatat

relevant OM projects. Papuan Academy participants were 20 people with a focus on developing competencies in the field of Mechanical and Electrical Engineering. In 2025 the percentage of local Papuans who support our projects in the Papua area will be aimed to reach 85% of the total project Workers.

Learning ProgramStarting in 2019, the Company has set an average target of learning hours of 100 hours for each employee. Learning activities carried out include training, sharing sessions, coaching and mentoring, self study, mobile learning, leader forums, CIP (Continuous Improvement Program) and E-Learning programs. The implementation of competency development in the form of training within the Company is carried out by Elnusa Petroleum School (EPS). EPS is responsible for ensuring the implementation of training and learning programs, conducting competency reviews after the training process, and ensuring the documentation and updating of knowledge management materials in order to support the improvement of the Company's HR competencies. The number of hours of training and learning carried out during the last 3 (three) years can be seen in the following table:

The table above shows a significant increase in learning hours due to the addition of diverse learning activities.

The Company is committed to continuously increasing added value for HR as evidenced by the commitment to carry out sustainable HR development. The realization of human resource competency development costs in 2019 was recorded at Rp9.2


billion, down 5% or Rp511 million compared to 2018 which was recorded at Rp9.7 billion. The amount of investment of the Company's training costs in the last 3 (three) years is presented in the table below:

Based on the table above, it appears that training costs have decreased by 5% when compared to the previous year. This decrease was due to several learning activities carried out through digital media such as self study, mobile learning, coaching, and mentoring through the ECMA and E-Learning applications.

The training organized by the Company is divided into several types, as follows:1. Certification, training that becomes mandatory in a job

that shows that workers are able to do a job according to standards in certain fields.

2. Soft Skill, training conducted to improve soft (non-technical) competence in accordance with work activities carried out.

3. Technical, training conducted to improve technical competence in accordance with work activities carried out.

4. General, training provided in the context of increasing competencies related to the oil and gas industry and other general fields beyond Technical & Soft Skill training.

The training program data that has been held in the last 3 (three) years is as attached to the following table:

The Company provides equal opportunities for all human resources at every level/level of position to obtain learning programs. The development of the Company's HR competencies is not only for the level of staff working in the Company's projects, but also for all HR at each level of position. The composition of learning hours or man hour training based on the level of position in the last 3 (three) years is as follows:

sebesar Rp9,2 miliar, menurun 5% atau sebesar Rp511 juta dibandingkan tahun 2018 yang tercatat sebesar Rp9,7 milliar. Besaran Investasi biaya pelatihan Perseroan dalam 3 (tiga) tahun terakhir adalah sebagaimana tersaji pada tabel di bawah ini:

Biaya PelatihanTraining Cost

(Rp-juta) (Rp-million)

Pertumbuhan Biaya PelatihanGrowth in Training Cost

(%)2019 2018 2017 2019 2018 20179.208 9.744 4.387 (5,5) 122,1 (32,6)

Berdasarkan tabel di atas, terlihat bahwa biaya pelatihan mengalami penurunan sebesar 5% jika dibandingkan dengan tahun sebelumnya. Penurunan ini disebabkan karena beberapa aktivitas pembelajaran dilakukan melalui media digital seperti self study, mobile learning, coaching, dan mentoring melalui aplikasi ECMA dan E-Learning.

Pelatihan yang diselenggarakan oleh Perseroan, terbagi dalam beberapa jenis, yaitu sebagai berikut:1. Certification, adalah pelatihan yang menjadi persyaratan

(mandatory) dalam suatu pekerjaan yang menunjukkan bahwa pekerja mampu melakukan suatu pekerjaan sesuai standar dalam bidang tertentu.

2. Soft Skill, adalah pelatihan yang dilakukan untuk meningkatkan kompetensi soft (non technical) sesuai dengan aktivitas pekerjaan yang dilakukan.

3. Technical, adalah pelatihan yang dilakukan untuk meningkatkan kompetensi teknis sesuai dengan aktivitas pekerjaan yang dilakukan.

4. General, adalah pelatihan yang diberikan dalam rangka meningkatkan kompetensi yang berhubungan dengan industri migas maupun bidang umum lainnya diluar pelatihan Technical & Soft Skill.

Data program pelatihan yang telah terselenggara dalam 3 (tiga) tahun terkahir adalah sebagaimana yang terlampir pada tabel berikut:

Jenis PelatihanType of Training

Jam (Man Hour)


(%)2019 2018 2017 2019 2018 2017

Certification 19.850 30.160 21.048 13 44,1 30,8Soft Skill 4.708 1.683 1.628 3 2,5 2,4Technical 67.914 39.736 30.426 44 58,2 44,5General 60.446 1.668 1.934 40 2,4 2,8JumlahTotal 152.918 73.247 55.036 100,0 100,0 100,0

Perseroan memberikan kesempatan yang sama bagi segenap SDM di setiap level/jenjang jabatan untuk mendapatkan program pembelajaran. Pengembangan kompetensi SDM Perseroan tidak hanya untuk level staf yang bekerja di proyek-proyek Perseroan, tetapi juga untuk seluruh SDM di setiap jenjang jabatan. Komposisi jam pembelajaran atau man hour pelatihan berdasarkan jenjang jabatan dalam 3 (tiga) tahun terakhir adalah sebagai berikut:



Jenjang JabatanPosition

Jam (Man Hour)


(%)2019 2018 2017 2019 2018 2017

Director 245 153 56 0,2 0,2 0,1Vice President 1.335 269 742 0,9 0,4 1,3Senior Manager 3.371 1.497 1.434 2,2 2,0 2,6Manager 8.829 10.705 2.582 5,8 14,6 4,7Junior Manager 549 3.435 7.232 0,4 4,7 13,1Supervisor 5.387 16.692 13.500 3,5 22,8 24,5Staff 133.202 40.496 29.490 87,1 55,3 53,6JumlahTotal 152.918 73.247 55.036 100,0 100,0 100,0

Tugas Belajar PerseroanDalam upaya memastikan kapabilitas Perseroan maka dirasa penting untuk memiliki expertise/tenaga ahli yang memiliki latar belakang pendidikan yang mumpuni sesuai bidang keilmuannya. Pada tahun 2019 SDM di Perseroan pekerja dengan latar belakang pendidikan S2 sebanyak 101 Pekerja dan S3 sebanyak 2 Pekerja dari total 1.349 Pekerja. Hal ini memacu Perseroan untuk meluncurkan Program tugas belajar. Pemilihan kandidat yang dapat mengikuti program ini sangat selektif, tidak hanya yang memiliki kapabilitas tetapi juga memiliki passion dan stress management yang mumpuni sehingga kandidat yang nanti terpilih benar-benar dapat menyelesaikan program tepat waktu dan hasil yang memuaskan.

Coaching & Mentoring ProgramSebagai bagian dari pengembangan kapabilitas Pekerja, mulai tahun 2018 Perseroan sudah mulai menggalakkan program Coaching & Mentoring di lingkungan Perseroan dengan berbasis platform digital, yaitu ECMA Apps. ECMA dapat diakses oleh pekerja yang masih aktif di Perseroan maupun Pekerja diluar Perseroan (harus teregistrasi). Tujuannya agar semua aset pengetahuan dapat terdokumentasi dengan baik, serta dapat dengan mudah diakses oleh seluruh penggunanya sehingga kegiatan pembelajaran dapat dilakukan dimana saja dan kapan saja.

Di tahun 2019, tercatat lebih dari 200 user, dengan 39 aktivitas coaching, 177 aktivitas mentoring dengan lebih dari 120 expertise yang telah terkumpul dalam database sistem ECMA Apps.

Knowledge Management SystemDalam rangka menghindari hilangnya aset pengetahuan intelektual ketika seorang pekerja meninggalkan suatu Perseroan, secara berkelanjutan sejak tahun 2017, Perseroan terus memperkuat Knowledge Management System untuk mendokumentasikan asset pengetahuan (explicit dan tacit knowledge) yang dimiliki oleh SDM Perseroan. Aset pengetahuan dimuat dalam portal knowledge management yang terintegrasi dengan pengelolaan asset pengetahuan yang dikelola oleh PT Pertamina (Persero).

Sharing SessionSelain program pelatihan, EPS juga menyelenggarakan program sharing knowledge sebagai wadah pertukaran ide, pengetahuan,

Company Learning TasksIn an effort to ensure the capability of the Company it is deemed important to have expertise/experts who have qualified educational backgrounds according to their scientific fields. In 2019 there were 101 Employees with Master's degrees and 2 Employes with Doctorates out of a total of 1,349 Employees. This then became the reason for the Company to launch a learning assignment program. The selection of candidates who can participate in this program is very selective, not only those who have capabilities but also have passion and stress management who are qualified so that the candidates who are selected can actually complete the program on time and have satisfying results.

Coaching & Mentoring ProgramAs part of developing employee capabilities, starting in 2018 the Company has begun to promote Coaching & Mentoring program within the Company through a digital platform namely ECMA Apps. ECMA can be accessed by employees who are still active in the Company or Employees outside the Company (must be registered). The goal is to document all knowledge and can be easily accessed by all users so that learning activities can be done anywhere and anytime.

In 2019, there were more than 200 users, with 39 coaching activities, 177 mentoring activities with more than 120 expertise collected in the ECMA Apps database system.

Knowledge Management SystemIn order to avoid the loss of intellectual knowledge asset when an employee leaves a Company, on an ongoing basis since 2017, the Company continues to strengthen the Knowledge Management System to document the knowledge asset (explicit and tacit knowledge) owned by the Company's HR. Knowledge asset is contained in a knowledge management portal that is integrated with the management of knowledge asset managed by PT Pertamina (Persero).

Sharing SessionIn addition to the training program, EPS also organizes a knowledge sharing program as a place for exchanging ideas, knowledge, and


dan informasi seputar industri oil & gas diantara Pekerja yang diselenggarakan setiap minggu sekali dengan topik bervariasi, antara lain berupa problem solving, inovasi, dan success story. Narasumber sharing session juga dapat diisi oleh pembicara internal maupun eksternal. Sharing session dapat dilakukan dan diikuti oleh seluruh Pekerja di Perseroan. Pada tahun 2019, sharing session telah terselenggara sebanyak 43 sesi.

Khusus untuk Direksi program sharing session dikenal dengan nama “NOBADI” (Nongkrong Bareng Direksi). Sesi ini merupakan sesi yang dikemas secara lebih informal sehingga tercipta kedekatan antara Direksi dan para Pekerja.

PERFORMANCE MANAGEMENT SYSTEMDalam rangka menyelaraskan kinerja individu dengan visi, misi, strategi, serta proses bisnis yang berjalan, Perseroan menerapkan Sistem Pengelolaan Kinerja (SPK), berdasarkan Surat Keputusan (SK) Kontrak Kinerja Perusahaan yang ditandatangani oleh Direktur Utama Perseroan. SK tersebut berisi mekanisme penetapan dan cascading KPI dari tingkat korporasi hingga tingkat individu serta Reward System yang terkait dengan pencapaian kinerja. Melengkapi SK tersebut, detail Sistem Pengelolaan Kinerja yang berlaku di Perseroan dari tahap perencanaan, monitoring hingga penilaian dituangkan dalam prosedur tersendiri.

Perencanaan KinerjaKPI Perseroan (level korporasi) ditetapkan dan ditandatangani oleh seluruh Direksi, di setiap awal tahun. KPI tersebut menjadi dasar proses cascading KPI ke seluruh unit bisnis sampai level individu, baik di Perseroan maupun di Anak Perseroan.

Monitoring KinerjaMonitoring atas kinerja Perseroan di level koporasi dan unit bisnis serta Anak Perseroan dilakukan menggunakan Dashboard KPI, yaitu suatu sistem monitoring pencapaian kinerja berbasis web yang berisi KPI Perseroan. Update data pencapaian indikator kinerja pada Dashboard KPI dilakukan setiap awal bulan sehingga dapat dimonitor pencapaiannya secara triwulan. Untuk level individu, monitoring kinerja dilakukan secara kolektif di semester 1 (satu) setiap tahunnya melalui kegiatan Mid Review. Tujuan kegiatan Mid Review adalah untuk memonitor pencapaian kinerja individu selama 1 (satu) semester dan menetapkan target kerja sampai dengan akhir tahun.

Penilaian KinerjaPenilaian Kinerja Perseroan di level koporasi dan unit bisnis serta Anak Perseroan dilakukan menggunakan Dashboard KPI yang secara otomastis menampilkan hasil pencapaian KPI. Untuk level individu, penilaian kinerja dilakukan dengan metode self assessment menggunakan form Penilaian Kinerja yang dilanjutkan dengan penilaian oleh komite SDM. Komite SDM adalah tim yang bertugas melakukan verifikasi atas hasil penilaian kinerja individu, yang terdiri dari beberapa anggota seperti tersaji di bawah ini:

information about the oil & gas industry among workers which is held once a week with varied topics, including problem solving, innovation, and success stories. Resources can also come from internal and external speakers. Sharing sessions can be conducted and participated by all Employees in the Company. In 2019, there were 43 sharing sessions.

Specifically for Board of Directors, the sharing session program is known as "NOBADI" (Hanging out with the Directors). This session is more informal so as to create closeness between the Directors and Employees.

PERFORMANCE MANAGEMENT SYSTEMIn order to harmonize the performance of individuals with the vision, mission, strategy and ongoing business processes, the Company has implemented a Performance Management System (SPK) that has as its basis a Company Performance Contract decree signed by the Company’s President Director. Within this decree is a mechanism for determining and cascading Key Performance Indicators (KPIs) from the corporate levels to the individual levels. The decree also contains Reward Systems related to performance achievement. Rounding out this decree are the Performance Management System details that apply at the Company. These include the planning, the monitoring and assessment phases that are set out in separate procedures.

Performance PlanningThe Company’s KPI (corporate level) is determined and signed by all Directors at the start of each year. The KPI is the basis of the cascading KPI process for all units, from the business level to the individual level, both for the Company and its Subsidiaries.

Performance MonitoringMonitoring of both the Company’s performance at corporate levels business unit levels as well as that of Company Subsidiaries is carried out through the use of the KPI Dashboard, which is a web- based performance achievement monitoring system that contains within it the Company’s KPI. Updating data on the achievement of performance indicators on the KPI Dashboard is carried out at the start of each month so that achievements can be monitored every month. For the individual level, performance monitoring is carried out collectively and annually during semester 1 (one) through Mid Review activities. The purpose of these Mid Review activities is to monitor individual performance achievements for 1 (one) semester and establish work targets until the end of the year.

Performance AssessmentEvaluation of the Company’s performance at the corporate and business unit levels as well as at Company Subsidiaries is carried out through the use of the KPI Dashboard, which automatically displays KPI accomplishments. For the individual level, the performance assessment is carried out through a self assessment method using a Performance Assessment form, followed by an assessment by the HR committee. The HR Committee is a team tasked with verifying the results of individual performance evaluations. This committee consists of several members as presented below:



Penilaian KinerjaPerformance Assessment

Komite SDMHR Committee

PanelVice President Board of DirectorsSenior Manager Board of Directors, Division Head on its Division, Human CapitalManager-ke bawahManager-below Senior Manager on its Division, Human Capital

Hasil penilaian kinerja selanjutnya digunakan dalam pengembangan kompetensi, pengembangan karir SDM seperti promosi dan rotasi, pengkajian pemberian kompensasi bagi SDM serta penentuan reward kinerja.

COMPENSATION & BENEFITPemenuhan hak Pekerja berupa kompensasi dan benefit yang disusun Perseroan bertujuan untuk dapat menarik, mempertahankan, memotivasi, dan meningkatkan keterikatan Pekerja sehingga secara terus menerus memberikan kinerja yang optimal, mendukung visi dan misi, serta strategi Perseroan. Untuk remunerasi atau imbalan kerja yang diberikan oleh Perseroan kepada Pekerja merupakan bentuk komitmen imbal jasa kepada Pekerja, di mana Perseroan telah memenuhi ketentuan Upah Minimum Provinsi/Kabupaten/Kota (UMP/K) wilayah masing-masing unit kerja Perseroan yang ditetapkan oleh Pemerintah. Sementara kompensasi program kesejahteraan dan fasilitas Pekerja Perseroan mengacu kepada Ketentuan dan Peraturan Kementerian Tenaga Kerja dan Transmigrasi, termasuk pemenuhan upah yang berlaku.

Pada tahun 2019, Perseroan juga melakukan beberapa program yang berkaitan dengan kompensasi dan benefit yaitu sebagai berikut:

Review RemunerasiSecara berkala Perseroan melakukan review remunerasi yang diterima oleh pekerja dengan berdasarkan cost living adjustment dan market competitiveness. Hal ini perlu dilakukan untuk menjaga agar Talent tetap bertahan di Perseroan dan termotivasi untuk meningkatkan produktifitasnya.

Review BenefitDi tahun 2019 telah dicanangkan program Smart Benefit yang akan di laksanakan 2020. Program ini pada dasarnya dilakukan untuk memberikan kebebasan bagi Pekerja untuk memilih benefit yang sesuai dengan kebutuhannya berdasarkan alternatif yang ditawarkan Perseroan.

Program Kesejahteraan SDMDalam rangka menciptakan lingkungan kerja yang baik bagi SDM Perseroan telah melakukan serangkaian program Elmpoyee Welfare di lingkungan Perseroan. Program-program tersebut dilakukan secara mingguan, bulanan maupun tahunan dalam bentuk kegiatan olahraga dan keagamaan serta bentuk lainnya seperti pemberian bantuan kesejahteraan dalam bentuk:1. Penghargaan Masa Kerja/Ulang Tahun Dinas (UTD);2. Program Siap Pensiun (SiPP);3. Penghargaan Pekerja Masa Persiapan Pensiun (MPP) usia

55 tahun;4. Bantuan Ibadah: Haji, Umrah, dan Jerusalem;5. MCU Massal;

The results of the performance assessment are then used in competency development, HR career development such as promotion and rotation, assessment of HR compensation and determination of performance rewards.

COMPENSATION & BENEFITThe fulfillment of Employees' rights in the form of compensation and benefits compiled by the Company aims to attract, maintain, motivate and increase employee engagement so as to continuously provide optimal performance, support the vision and mission, and the Company's strategy. For remuneration or employee benefits provided by the Company to Employees is a form of commitment to the Employees, in which the Company has complied with the Provincial/District/City Minimum Wage (UMP/K) area of each of the Company's work units established by the Government. While the compensation for the welfare program and facilities for the Company's Employees refers to the provisions and regulations of the Ministry of Manpower and Transmigration, including the fulfillment of applicable wages.

In 2019, the Company also carried out several programs related to compensation and benefits, as follows:

Remuneration ReviewThe Company periodically reviews the remuneration received by employees based on cost living adjustments and market competitiveness. This needs to be done to keep Talent afloat in the Company and motivated to increase its productivity.

Review BenefitsIn 2019 the Smart Benefit program has been launched which will be implemented in 2020. This program is basically carried out to provide freedom for Employees to choose benefits according to their needs based on alternatives offered by the Company.

HR Welfare ProgramIn order to create a good working environment for HR, the Company has conducted a series of Elmpoyee Welfare programs within the Company. These programs are carried out on a weekly, monthly and annual basis in the form of sports and religious activities and other forms such as the provision of welfare assistance in the form of:1. Work Anniversary (UTD);2. Retirement Ready Program (SiPP);3. Employee Retirement Preparation Award (MPP) age 55

years;4. Sponsorship for Religious Events: Hajj, Umrah and Jerusalem;5. Mass MCU;


6. Pemberian vaksinasi;7. Fasilitas kesehatan (klinik, dokter, dan ambulance);8. Bantuan Melahirkan;9. Bantuan Pemakaman;10. Beasiswa untuk anak Pekerja berprestasi;11. Bantuan anak yatim piatu & dhuafa;12. Fasilitas tempat olahraga dengan 17 cabang olahraga dan

2 cabang kesenian;13. Fasilitas ibadah (Masjid & Musholla di setiap lantai Gedung);

14. Fasilitas untuk kegiatan keagamaan: Program Ramadhan, Idul Qurban, Pengajian Bulanan, Kajian Muslimah dan Pendalaman Iman;

15. Perayaan Hari Ulang Tahun (HUT) PT Elnusa Tbk dan penyelenggaraan acara EN-Lympic (Elnusa Olympic) dengan 11 cabang olahraga yang diperlombakan di seluruh area Pertamina Group dan eksternal.

HUMAN RESOURCE MANAGEMENT SERVICESProgram Service Management dikelola untuk memastikan seluruh layanan fungsi Human Capital dapat diterima oleh pekerja sesuai dengan standar yang berlaku di Perseroan. Hal ini bertujuan untuk mewujudkan kondisi kerja yang nyaman, aman, produktif, dan efisien melalui terjaminnya pelayanan HR kepada semua pekerja Perseroan.

Employee Engagement IndexDalam rangka meningkatkan semangat kerja dan komunikasi yang harmonis, dan membangun Perseoran menjadi organisasi yang tangguh, serta tempat kerja yang menyenangkan, maka Perseroan telah melakukan Employee Engagement Survey (EES) pada tahun 2019 untuk memperoleh masukan mengenai tingkat kepuasan serta motivasi dari seluruh Pekerja Perseroan.

Berdasarkan hasil survey, Perseroan mendapatkan Index Keterikatan sebesar 46,6% dan Indeks Kepuasan sebesar 66,6%. Dari hasil tersebut Perseroan perlu melakukan:1. Peningkatan 3 aspek kepuasan terendah secara keseluruhan.2. Peningkatan keterikatan pekerja yang tergolong nearly

engaged.3. Memberikan program Public Relation terhadap internal

Pekerja Perseroan.

Service Level AgreementPerseroan mengatur mekanisme pembuatan, pelaksanaan, pemantauan dan pelaporan kemajuan pelaksanaan Service Level Agreement (SLA) Fungsi Human Capital, agar terlaksana secara terencana, terukur, efektif, dan efisien sesuai dengan ketetapan yang berlaku. Beberapa kegiatan fungsi Human Capital yang dapat diukur SLA nya adalah ketepatan pemenuhan rekrutmen, administrasi payroll, administrasi benefit, contract management, outsourcing management, administrasi perubahan pangkat, jabatan, dan remunerasi.

HUMAN RESOURCE INFORMATION SYSTEM (HRIS)Selama tahun 2019, Perseroan terus melakukan improvement terhadap sistem HRIS yang dimiliki dalam bentuk penambahan fitur lainnya. Beberapa aplikasi yang telah dibuat dalam rangka mendigitalisasi proses-proses pengelolaan SDM pada tahun 2019 adalah sebagai berikut:

6. Vaccination;7. Health facilities (clinics, doctors and ambulances);8. Childbirth Assistance;9. Funeral Assistance;10. Scholarships for children of outstanding employees;11. Donations for orphans & dhuafa;12. Sports venue facilities with 17 sports and 2 arts;

13. Religious facilities (Mosque & Musholla on every floor of the Building);

14. Facilities for religious activities: Ramadhan Program, Eid Al-Qurban, Monthly Recitation, Muslimah Studies and Relgious Studies;

15. PT Elnusa Tbk's Anniversary (HUT) celebration and the EN-Lympic (Elnusa Olympic) event with 11 sports competed in all Pertamina Group and external areas.

HUMAN RESOURCE MANAGEMENT SERVICESThe Service Management Program is managed to ensure that all Human Capital service functions can be received by employees in accordance with applicable standards in the Company. This aims to create comfortable, safe, productive and efficient working conditions through guaranteed HR services to all Company employees.

Employee Engagement IndexIn order to increase morale and harmonious communication and build a strong organization and a pleasant workplace, the Company has conducted an Employee Engagement Survey (EES) in 2019 to obtain input on the level of satisfaction and motivation of all Company Employees.

Based on the survey results, the Company obtained an Engagement Index of 46.6% and a Satisfaction Index of 66.6%. From these results the Company needs to:1. Improved 3 lowest overall satisfaction aspects.2. Increase attachment of employees classified as nearly

engaged.3. Provide Public Relations programs for the Company's internal

employees.

Service Level AgreementThe Company regulates the mechanism of making, implementing, monitoring and reporting the progress of the implementation of the Service Level Agreement (SLA) of the Human Capital Function, so that it is carried out in a planned, measured, effective, and efficient manner in accordance with the provisions in force. Some activities of the Human Capital function that can be measured by the SLA are the accuracy of fulfilling recruitment, payroll administration, benefit administration, contract management, outsourcing management, reshuffle administration, position and remuneration.

HUMAN RESOURCE INFORMATION SYSTEM (HRIS)During 2019, the Company continues to make improvements to its HRIS system in the form of additional features. Some applications that have been made in order to digitize HR management processes in 2019 are as follows:



Perjalanan Dinas OnlineAplikasi ini berfungsi untuk melakukan pengajuan dan approval untuk Pekerja yang ingin melakukan SPPD. Aplikasi ini adalah pembaruan dari aplikasi yang terdahulu, dimana aplikasi ini lebih mudah dan lebih cepat digunakan dari aplikasi yang lama. Untuk proses approval di aplikasi ini dapat dilakukan secara online dan terintegrasi langsung ke fungsi General Affair dan Keuangan.

Recruitment Online 2.0Aplikasi Recruitment Online telah berjalan sejak tahun 2018. Dalam hal untuk memenuhi tuntutan kompleksitas rekrutmen maka dipandang perlu untuk melakukan pengembangan secara menyeluruh dari fitur yang ada, sehingga fitur rekrutmen dapat menyesuaikan dengan populasi calon Pekerja dengan menyediakan Apps yang handal, cepat, mudah digunakan, dan dapat diakses dimana saja. Pengembangan akan dilakukan secara berkelanjutan, menyesuaikan dengan strategi rekrutmen yang ditentukan oleh Perseroan.

Integrasi Aplikasi AbsensiUntuk mempermudah Pekerja dalam melakukan check data absennya, maka Fungsi HC dan IT melakukan integrasi antara data absen dengan aplikasi Employee Self Service (ESS) yang dapat diakses seluruh pekerja Perseroan. Dengan adanya integrasi ini semua karyawan baik pekerja maupun atasan dapat memantau data absensinya masing-masing maupun bawahannya.

HC DashboardHC dashboard merupakan sebuah portal yang berisi informasi demografi pekerja yang sifatnya umum dan dapat diakses oleh seluruh bagian di Fungsi Human Capital. Demografi yang tersedia di portal ini antara lain:1. Data Demografi Pekerja (Usia, Strata, Gender, Generasi,

Jabatan, Pensiun)2. Data Rotasi dan Promosi3. Data Turn Over Pekerja4. Data Productivity5. Data Talent

HC Dashboard secara continue akan terus dikembangkan dan dioptimalkan untuk melakukan analisis data dalam rangka pengambilan keputusan yang terkait dengan Sumber Daya Manusia.

Industrial RelationPerseroan selalu berupaya untuk menciptakan suasana kerja yang terbuka dan positif dalam rangka meningkatkan hubungan industrial yang harmonis, dinamis, dan adil. Perseroan berupaya membangun hubungan ketenagakerjaan yang menjamin kebebasan semua Pekerja untuk masuk dalam organisasi pekerja (Serikat Pekerja) yang dikelola secara profesional sebagai sarana penghubung antara Pekerja dan Perseroan, sebagaimana diatur dalam Undang-Undang No. 13 Tahun 2003 tentang Ketenagakerjaan.

Serikat pekerja Elnusa bernama SP Elnusa (SPE) juga memberikan konsultasi kepada Perseroan dalam penyusunan Peraturan Perusahaan (PP) yang mengatur hak dan kewajiban Pekerja kepada

Business TripThis application serves to make submissions and approvals for Employees who want to do SPPD. Application is an update from the previous application, where this application is easier and faster to use than the old application. The approval process can be applied online and integrated directly into the General Affairs and Finance functions.

Recruitment Online 2.0The Recruitment Online application has been running since 2018. In order to meet the demands of the recruitment complexity, it is deemed necessary to conduct a comprehensive development of existing features, so that the recruitment feature can adjust to the prospective Employees' population by providing reliable, fast, easy to use, and reliable Apps. can be accessed anywhere. The development will be carried out continuously, in accordance with the recruitment strategy determined by the Company.

Integrated Application for AttendanceTo make it easier for employees to check their attendance, the HC and IT functions integrate the attendance data with the Employee Self Service (ESS) application that can be accessed by all Company employees. With this integration all employees can monitor the attendance data of each and their subordinates.

HC DashboardHC dashboard is a portal that contains general employee demographic information and can be accessed by all sections in the Human Capital Function. Demographics available on this portal include:1. Employee Demographic Data (Age, Strata, Gender,

Generation, Position, Pension)2. Rotation and Promotion Data3. Worker Turn Over Data4. Data Productivity5. Talent Data

HC Dashboard will continue to be developed and optimized to carry out data analysis in the context of decision making related to Human Resources.

Industrial RelationsThe Company always strives to create an open and positive working atmosphere in order to improve harmonious, dynamic and fair industrial relations. The Company seeks to establish employment relationships that guarantee the freedom of all Employees to enter the professionally managed employees' organizations (Trade Unions) as a means of liaising between Employees and the Company, as stipulated in Law No. 13 year 2003 on Manpower.

The Elnusa trade union named SP Elnusa (SPE) also provides consultations to the Company in the preparation of Company Regulations (PP) which regulate Employees' rights and obligations


Perseroan dan sebaliknya. Dokumen Peraturan Perusahaan (PP) yang mengikat pihak Manajemen Perseroan dan SP Elnusa terakhir disahkan melalui Keputusan Direktur Jenderal Pembinaan Hubungan Industrial dan Jaminan Sosial Tenaga Kerja No. KEP.411/PHIJSK-PKKAD/PP/IV/2015 pada tanggal 17 April 2015. Sepanjang tahun 2019, Perseroan terbilang cukup berhasil dalam melakukan pengelolaan Industrial yang kondusif dengan Pekerja, sehingga sepanjang tahun tersebut tidak terjadi labor strike yang melibatkan Pekerja dan Perseroan.

Peraturan PerusahaanPeraturan Perusahaan merupakan kaidah tatanan organisasi yang dijadikan landasan untuk bersikap dan bertingkah laku di lingkungan Perseroan agar sesuai dengan norma dan nilai yang berbudi luhur.

Pada tahun 2019 Perseroan telah melakukan perpanjangan dan sosialisasi serta membagikan buku Peraturan Perusahaan 2019-2021 yang telah disahkan melalui Surat Keputusan Direktur Jendral Pembinaan Hubungan Industrial dan Jaminan Sosial Tenaga Kerja Kementerian Ketenagakerjaan Republik Indonesia No. Kep.1397/PHIJSK-PK/PP/IX/2019 pada 19 September 2019 dan Surat Pengesahan Peraturan Perusahaan No. TAR.1397/PHIJSK-PK/PP/IX/2019.

Sanksi DisiplinDalam rangka menerapkan prinsip keadilan bagi seluruh Insan Perseroan, selain memberikan apresiasi kepada Pekerja yang berkinerja baik, Perseroan juga memiliki kebijakan terkait dengan pemberian sanksi kepada Pekerja yang melakukan pelanggaran sebagai bentuk penerapan Good Corporate Governance. Jenis sanksi yang berlaku di Perseroan didasarkan pada jenis pelanggaran yang dilakukan, unsur perbuatan, serta dampak yang ditimbulkan meliputi, Surat Peringatan 1, 2, 3, & Terakhir serta skorsing. Pemberian sanksi selama 3 (tiga) tahun terakhir di Perseroan menunjukkan penurunan sebagaimana tabel berikut:

Jenis Surat Tindakan Disiplin/SanksiType of Discipline/Sanction Act 2019 2018 2017

Surat Peringatan 1 (pertama)Stern Warning 1 (first) 2 3 8

Surat Peringatan 2 (kedua)Stern Warning 2 (second) - 5 4

Surat Peringatan 3 (ketiga) & TerakhirStern Warning 3 (third) & Last - 1 2

Surat Pembebasan Sementara (Skorsing)Suspension 2 - 1

JumlahTotal 4 9 15

CULTUREPentingnya mempertahankan budaya Perseroan adalah untuk memastikan identitas Perseroan dengan budaya yang kuat dan berkarakter. Selain itu penciptaan budaya yang kuat penting untuk memastikan image Perseroan dilingkungan internal maupun eksternal. Beberapa program budaya yang dikelola dalam rangka menginternalisasi Core Values, tata nilai, visi, dan misi Perseroan, antara lain:

to the Company and vice versa. The Company Regulation document (PP) that binds the Company Management and the latest Elnusa SP was ratified by Decree of the Director General of Industrial Relations and Employees Social Security No. KEP.411/PHIJSK-PKKAD/PP/IV/2015 on April 17, 2015. Throughout 2019, the Company was quite successful in conducting a conducive industrial management with Employees, as a result throughout the year there wasn't any no labor strike involving Employees and the Company.

Company RegulationsCompany regulations are the rules of the organizational structure used as the basis for behaving within the Company in accordance with proper norms and values.

In 2019 the Company has extended and socialized and distributed the Company Regulation Book 2019-2021 which was ratified through the Decree of the Director General of Industrial Relations and Employees' Social Security of the Ministry of Manpower of the Republic of Indonesia No. Kep.1397/PHIJSK-PK/PP/IX/2019 on September 19, 2019 and Ratification of Company Regulation No. TAR.1397/PHIJSK-PK/PP/IX/2019.

Disciplinary SanctionsIn order to apply the principle of justice to all of the Company's Individuals, in addition to giving appreciation to Employees who are performing well, the Company also has policies related to sanctions for Employees who commit violations as a form of Good Corporate Governance. The types of sanctions applicable are based on the type of violation committed, the element of the act, as well as the impact caused, including, Stern Warnings 1, 2, 3, & Final and suspension. The sanctions for the last 3 (three) years at the Company show a decrease as seen in the following table:

CULTUREThe importance of maintaining the Company's culture is to ensure the Company's identity with a strong character and culture. In addition, the creation of a strong culture is important to ensure the Company's image in internal and external environments. Some cultural programs that are managed in order to internalize the Core Values, the Company's values, vision and mission include:



Values DayProgram ini bertujuan untuk membangkitkan semangat kerja, meningkatkan produktivitas, menciptakan lingkungan yang dapat menumbuhkan kreativitas, menyatukan perbedaan, menumbuhkan sikap saling percaya antar Pekerja, meningkatkan kerjasama team dan menumbuhkan motivasi dalam mencapai tujuan Perseroan. Pelaksanaan values day dikelola oleh masing-masing Divisi dengan melibatkan seluruh Pekerja dengan bentuk program yang disesuaikan oleh masing-masing Divisi.

HC DayHarmony and Collaboration Day 2019 (HC Day 2019) merupakan serangkaian kegiatan yang bertujuan untuk mendekatkan Divisi Human Capital dengan semua Pekerja Perseroan, dan memastikan bahwa semua kebijakan, prosedur dan program-program terkait pengelolaan Sumber Daya Manusia dapat tersampaikan dengan baik. Kegiatan HC Day 2019 juga menyediakan beberapa booth bagi pengunjung untuk mencari tahu informasi lebih lanjut mengenai berbagai layanan terbaru dari Human Capital, seperti fasilitas Smart Ben, Overseas Troops, dan Agile Performance maupun fasilitas unggulan yang sudah berjalan seperti E-Gofit dan Positive Employee Experience. Tersedia juga Booth EN-Loker yang merupakan kolaborasi dari fungsi Rekrutmen PT Elnusa Tbk beserta Anak Perusahaan dalam pelaksanaan rangkaian seleksi calon pekerja. Code of ConductSebagai entitas bisnis yang berstatus Perseroan Terbuka, penerapan standar etika usaha perlu menjadi perhatian untuk memastikan Perseroan memenuhi hak dan kewajiban Perseroan terhadap para pemangku kepentingan. Code of Conduct harus bersumber dari nilai-nilai yang dianut Perseroan, dan penerapannya berlaku bagi semua pekerja dan manajemen (termasuk Dewan Komisaris dan Direksi) tanpa terkecuali, serta secara berkala di-review dan disosialisasikan kembali kepada seluruh elemen Perseroan.

Pada Tahun 2019 telah dilaksanakan Sosialisasi Code of Conduct di sebanyak 4 (empat) kali dan Induksi Peraturan Perusahaan.

Work Life BalancePerseroan telah memberlakukan beberapa program demi mencapai keseimbangan antara pekerjaan dengan kehidupan pribadi/keluarga sehingga pekerja dapat mengatur waktu yang baik (seimbang) antara pekerjaan di tempat kerja dengan kebutuhan pribadinya. Melalui program work-life balance, diharapkan pekerja semakin produktif, berkinerja tinggi, lebih bahagia, dan kreatif karena kehidupan di pekerjaan maupun pribadi mendukung produktivitasnya. Berbagai program Work Life Balance yang dikelola oleh Perseroan antara lain kegiatan olahraga, kesenian, keagamaan, dan personal/family matters.

Values DayThis program aims to increase enthusiasm for work, productivity, to create an environment that can foster creativity, unite differences, foster mutual trust between Employees, enhance teamwork and foster motivation in achieving the Company's goals. The implementation of values day is managed by each Division by involving all Employees with a program that is adjusted by each Division.

HC DayHarmony and Collaboration Day 2019 (HC Day 2019) is a series of activities aimed at bringing the Human Capital Division closer to all Company Employees, and ensuring that all policies, procedures and programs related to Human Resources management can be conveyed properly.

The HC Day 2019 activity also provides booths for visitors to find out more information about the latest services from Human Capital, such as Smart Ben, Overseas Troops, and Agile Performance facilities as well as existing excellent facilities such as E-Gofit and Positive Employee Experience. Also available is the EN-Locker Booth which is a collaboration of the Recruitment function of PT Elnusa Tbk and its Subsidiaries in carrying out the selection of prospective workers.

Code of ConductAs a business entity with a Public Company status, the application of business ethics standards needs to be considered to ensure that the Company fulfills the Company's rights and obligations to stakeholders. The Code of Conduct must be sourced from the values adopted by the Company, and its application applicable to all employees and management (including the Board of Commissioners and Board of Directors) without exception, and is regularly reviewed and re-socialized to all elements of the Company.

In 2019, Code of Conduct has been socialized 4 (four) times as well as Induction of Company Regulations.

Work Life BalanceThe Company has implemented several programs in order to achieve a balance between work and personal/family life so that employees can arrange a good (balanced) time between work at work and their personal needs. Through the work-life balance program, it is expected that employees will be more productive, high-performing, happier, and creative because life at work and personal both their productivity. Various Work Life Balance programs managed by the Company include sports, arts, religious activities, and personal/family matters.


HR MANAGEMENT STRATEGIC PLAN

In accordance with organizational changes and global business development, the Company has demanded improvements in all aspects of business activities and Company policies that are aligned with cultural changes that are more conducive and transparent. Therefore, to become a world-class company, the HR Management is something that must be carried out seriously, consistently, and continuously.

The Human Capital function has been mapping roles since 2017 as an HR Service Provider that has gradually been transformed as a Strategic Business Partner in 2020. Through its role as a Strategic Business Partner, it is expected that the Human Capital function will be able to contribute significantly to organizational performance. For this reason, several leading programs that become work programs in 2020 are:1. Increase organizational effectiveness2. Strengthen Competencies3. Accelerate talent and succession4. Meet the needs of HR for new and existing businesses5. Corporate industrial relations program6. Increase employee retention and attractiveness7. Increase in salary competitiveness level8. Smart Benefit9. Automate the HC process10. HC data analytics11. Agile Performance Management12. Elnusa Work Life Balance

It is expected that with the implementation of the HR strategy, the Company's HR can be a major supporter of the Company's success in maintaining and improving its business in the years to come.

RENCANA STRATEGIS PENGELOLAAN SDM

HR SERVICE PROVIDER

Fokus pada Reliability dan Efektivitas Layanan HR Services

Focus on Reliability and HR Services Effectiveness

Fokus pada penyediaan Expertise disiplin ke-HR-an

Focus on providing Human Resources Discipline Expertise

Terlibat dalam penyusunan transfor-masi bisnis

Involved in the preparation of business transformation

Fokus solusi bisnisFocus on business solutions

STRATEGIC PARTNER

FUNCTIONAL EXPERT

TRANSFORMED HUMAN CAPITAL

2017-2018 20202019 2021

Sehubungan dengan perubahan organisasi dan perkembangan bisnis global telah menuntut Perseroan untuk melakukan pembenahan dalam segala aspek kegiatan bisnis dan kebijakan Perusahaan yang diselaraskan dengan perubahan budaya yang lebih kondusif dan transparan. Oleh sebab itu, untuk menuju Perusahaan kelas dunia, maka Pengelolaan SDM merupakan suatu keharusan untuk dilaksanakan dengan sungguh-sungguh, konsisten, dan terus-menerus.

Fungsi Human Capital melakukan pemetaan peran sejak tahun 2017 sebagai HR Service Provider yang secara bertahap mengalami transformasi sebagai Strategic Business Partner di tahun 2020. Melalui peran sebagai Strategic Business Partner, diharapkan fungsi Human Capital mampu berkontribusi nyata pada kinerja organisasi. Untuk itu beberapa program unggulan yang menjadi program kerja di 2020 adalah:1. Peningkatan Efektifitas organisasi2. Penguatan Kompetensi3. Percepatan talent dan suksesi4. Pemenuhan kebutuhan SDM bisnis baru dan eksisting5. Program corporate industrial relation6. Peningkatan retensi dan attractiveness Pekerja7. Peningkatan salary competitiveness level8. Smart Benefit9. Otomatisasi proses HC10. HC data analytics11. Agile Performance Management12. Elnusa work life Balance

Diharapkan dengan pelaksanaan strategi SDM tersebut, SDM Perseroan dapat menjadi penyokong utama atas keberhasilan Perseroan dalam mempertahankan dan meningkatkan bisnisnya di tahun-tahun yang akan datang.



STRUCTURE OF THE COMPANY’S SHAREHOLDERS

The following is the composition scheme of the Company's shareholders, including major and/or controlling shareholders, as follows:

INFORMATION ON MAJOR/CONTROLLING SHAREHOLDERS TO THE NAME OF THE COMPANY'S FINAL OWNERPT Pertamina (Persero) is the major and controlling shareholder of Elnusa with ownership of 41.1%. Pertamina is a national energy company whose shares are 100% owned by the Government of the Republic of Indonesia, through the State Ministry of State-Owned Enterprises (BUMN) as the Shareholders' Authority. Therefore, the highest parent entity, or the ultimate parent entity of the Company, is the Government of the Republic of Indonesia, because it is the major/controlling shareholder of Pertamina.

AddressPertamina HeadquarterSt. Medan Merdeka Timur 1AJakarta 10110 IndonesiaTelephone: (+62 21) 381-5-111, 381-6-111Email: [email protected]: www.pertamina.com

STRUKTUR DAN KOMPOSISI PEMEGANG SAHAMStructure and Composition of Shareholders

STRUKTUR PEMEGANG SAHAM PERSEROAN

Berikut skema komposisi pemegang saham Perseroan, termasuk pemegang saham utama dan/atau pengendali, adalah sebagai berikut:

Struktur Pemegang Saham Elnusa per 31 Desember 2019Elnusa Shareholder Structure as of December 31, 2019

PertaminaPertamina

Republik IndonesiaRepublic of Indonesia

Dana Pensiun PertaminaPertamina Pension Fund

41,10%

14,90%

100%100%

44,00%

Sebagai Pemegang SahamAs Shareholder

Sebagai PendiriAs Founder

PublikPublic

INFORMASI TENTANG PEMEGANG SAHAM UTAMA/PENGENDALI HINGGA NAMA PEMILIK AKHIR PERSEROANPT Pertamina (Persero) merupakan pemegang saham utama dan pengendali Elnusa dengan kepemilikan sebesar 41,1%. Pertamina adalah perusahaan energi nasional yang 100% kepemilikan sahamnya dimiliki oleh Pemerintah Republik Indonesia, melalui Kementerian Negara Badan Usaha Milik Negara (BUMN) selaku Kuasa Pemegang Saham. Dengan demikian, entitas induk tertinggi, atau ultimate parent entity Perseroan adalah Pemerintah Republik Indonesia, karena merupakan pemegang saham utama/pengendali dari Pertamina selaku pemegang saham utama/pengendali Perseroan.

AlamatKantor Pusat PertaminaJl. Medan Merdeka Timur 1AJakarta 10110 IndonesiaTelepon: (+62 21) 381-5-111, 381-6-111Surel: [email protected] Web: www.pertamina.com


KOMPOSISI KEPEMILIKAN SAHAM PERSEROAN

Berikut skema komposisi kepemilikan saham Perseroan, termasuk kepemilikan saham 5% atau lebih dan/atau kepemilikan di bawah 5%, adalah sebagai berikut:

Kepemilikan Saham Elnusa per 31 Desember 2019Elnusa Share Ownership as of December 31, 2019

Nama Pemegang SahamShareholders

Jumlah Pemegang Saham

Total Shareholders

Jumlah Kepemilikan(lembar)

Total Ownership(share)

Nilai SahamStock Value

(Rp)

Persentase Kepemilikan

Percentage of Ownership

(%)Nilai Nominal Saham = Rp1.000/lembar saham

Stock Nominal Value = Rp 1,000/shareKepemilikan Saham 5% atau lebih

Share Ownership of 5% or more

PT Pertamina (Persero) 1 3.000.000.000 300.000.000.000 41,1

Dana Pensiun PertaminaPertamina Pension Fund 1 1.087.407.500 108.740.750.000 14,9

Kepemilikan di bawah 5%Share Ownership of 5% or less

Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors

- - - -

Publik <5%Public <5% 18.533 3.211.092.500 321.109.250.000 44,0

JumlahTotal 18.535 7.298.500.000 729.850.000.000 100,0

Komposisi Kepemilikan Saham Berdasarkan Jenis 2017-2019Shareholding Composition Based on Type 2017-2019

Keterangan 2017 2018 2019 DescriptionPerseorangan Asing 0,1% 0,1% 0,2% Foreign Individual InvestorBadan Usaha Asing 11,8% 14,8% 11,8% Foreign Institutional InvestorPerseorangan Domestik 22,2% 18,3% 22,2% Domestic Individual InvestorBadan Usaha Domestik 65,9% 66,7% 69,6% Domestic Institutional Investor

41,1%PT Pertamina

(Persero)

44,0%Publik <5%Public <5%

14,9%Dana

Pensiun Pertamina

Pertamina Pension Fund

20172018

2019 Badan Usaha DomestikDomestic Institutional Investor

Perseorangan AsingForeign Individual Investor

Perseorangan DomestikDomestic Individual Investor

Badan Usaha AsingForeign Institutional Investor

Komposisi Pemegang Saham Elnusa per 31 Desember 2019Elnusa Share Ownership as of December 31, 2019

Komposisi Kepemilikan Saham Berdasarkan Jenis 2017-2019Shareholding Composition Based on Type 2017-2019

65,9%

22,2%

11,8%

14,8%

11,3%

18,3%

66,7%

69,6%

18,8%

COMPANY SHAREHOLDING COMPOSITION

The following is the scheme of composition of the Company's share ownership, including ownership of 5% or more shares and/or ownership below 5%, as follows:



KEPEMILIKAN SAHAM PERSEROAN OLEHDEWAN KOMISARIS DAN DIREKSI

Kepemilikan Saham Elnusa oleh Dewan Komisaris dan DireksiElnusa Share Ownership by Board of Commissioners and Board of Directors

NamaName

JabatanPosiiton

2019 2018

Jumlah SahamNumber of Shares(lembar) (share)



(%)

Jumlah SahamNumber of

Shares(lembar) (share)



(%)Dewan Komisaris

Board of Commissioners

Narendra Widjajanto Komisaris UtamaPresident Commissioner

NihilZero

NihilZero

NihilZero

NihilZero

Eman Salman Arief KomisarisCommissioner

NihilZero

NihilZero

NihilZero

NihilZero

Antonius Ratdomopurbo KomisarisCommissioner

NihilZero

NihilZero

NihilZero

NihilZero

Lusiaga Levi Susila Komisaris IndependenIndependent Commissioner

NihilZero

NihilZero

NihilZero

NihilZero

Anies Baridwan Komisaris IndependenIndependent Commissioner

NihilZero

NihilZero

NihilZero

NihilZero

DireksiBoard of Directors

Elizar Parlindungan Hasibuan Direktur UtamaPresident Director

NihilZero

NihilZero

NihilZero

NihilZero


NihilZero

NihilZero

NihilZero

NihilZero

RM Happy Paringhadi Direktur SDM & UmumDirector of HR & General Affair

NihilZero

NihilZero

NihilZero

NihilZero

Arief Riyanto

Direktur Pengembangan Usaha & Operasi/IndependenDirector of Business Development & Operation/Director of Independent

NihilZero

NihilZero

NihilZero

NihilZero

JumlahTotal

NihilZero

NihilZero

NihilZero

NihilZero

Keterangan: Nihil = tidak memiliki saham ELSA Note: Zero = has no Elsa shares

PEMEGANG SAHAM DENGAN KEPEMILIKAN KURANG DARI 5%

Jumlah Pemegang Saham dengan Kepemilikan <5% di Sepanjang Tahun 2019Shareholders with less than 5% ownership throughout 2019

Bulan Jumlah Pemegang SahamNumber of Shareholders Month

Januari 18.161 January

Februari 18.110 February

Maret 18.440 March

April 16.000 April

Mei 16.495 May

Juni 16.362 June

Juli 17.622 July

Agustus 18.353 August

September 19.705 September

SHARE OWNERSHIP OF THE COMPANY BY THE BOARD OF COMMISSIONERS ANDBOARD OF DIRECTORS

SHAREHOLDERS WITH LESS THAN 5% OWNERSHIP


Jumlah Pemegang Saham dengan Kepemilikan <5% di Sepanjang Tahun 2019Shareholders with less than 5% ownership throughout 2019

Bulan Jumlah Pemegang SahamNumber of Shareholders Month

Oktober 19.218 October

November 20.242 November

Desember 20.391 December

DecJan

20.00018.161

18.110

18.440

16.000

16.495

16.362

18.622

18.353

19.705

19.218

20.242

20.391

25.000

15.000

10.000

5.000

0Feb Mar Apr May Jun Jul Aug Sep Oct Nov

Komposisi Pemegang Saham < 5% per 31 Desember 2019Shareholding Composition with Ownership <5% as of December 31, 2019

Kelompok Pemegang SahamShareholders Group

DomestikDomestic

AsingForeign

Jumlah PemegangSaham

Total Shareholders

Jumlah SahamTotal Shares

Jumlah PemegangSaham

Total Shareholders

Jumlah SahamTotal Shares

RitelRetail 20.052 1.343.340.084 84 9.806.500

InstitusiInstitution 194 777.141.665 59 1.080.804.251

JumlahTotal 20.246 2.120.481.749 143 1.090.610.751

Kapitalisasi Pasar 2015-2019 (Rp miliar)Market Capitalization 2015-2019 (Rp billion)

2.511

1.803

2.7153.0652.233

20172016

2015

2018

2019

Kapitalisasi PasarMarket Capitalization

Kapitalisasi PasarMarket Capitalization



KEPEMILIKAN SAHAM PERSEROAN OLEH KARYAWANSampai dengan akhir tahun buku 2019, jumlah saham ELSA yang dimiliki oleh karyawan Perseroan adalah sebanyak 5.816.000 lembar atau 0,08% dari jumlah saham keseluruhan. Sementara pada tingkat level manajemen senior (satu level di bawah Direksi) berjumlah 100.000 lembar saham atau 0,001% dari jumlah saham keseluruhan.

20 PEMEGANG SAHAM TERBESAR PERSEROAN

Daftar 20 Pemegang Saham Terbesar Perseroan per 31 Desember 2019List of the 20 Largest Company Shareholders as of December 31, 2019

No. NAMA PEMEGANG SAHAMShareholder STATUS JUMLAH

Total (%)

1. PERUSAHAAN PERTAMBANGAN MINYAK DAN GAS BUMI NEGARA (PERTAMINA)

PERSEROAN TERBATASLIMITED COMPANY 3.000.000.000 41,10

2. DPP INHOUSE 2 DANA PENSIUNPENSION FUND 1.087.407.500 14,90

3. CITIBANK NEW YORK S/A GOVERNMENT OF NORW BADAN USAHA ASINGFOREIGN CORPORATION 197.955.000 2,71

4. REKSA DANA MANDIRI SAHAM ATRAKTIF REKSADANAMUTUAL FUND 115.674.700 1,58

5 REKSA DANA MANDIRI INVESTA ATRAKTIF REKSADANAMUTUAL FUND 71.075.000 0,97

6. REKSA DANA SAM DANA CERDAS REKSADANAMUTUAL FUND 70.000.000 0,96

7. CITIBANK NEW YORK S/A EMERGING MARKETS C BADAN USAHA ASINGFOREIGN CORPORATION 58.342.800 0,80

8. BNYM RE FIS GROUP COLLECTIVE INVESTMENT BADAN USAHA ASINGFOREIGN CORPORATION 49.634.180 0,68

9. REKSA DANA SAM INDONESIA EQUITY FUND- 84 REKSADANAMUTUAL FUND 47.000.000 0,64

10. CITIBANK NEW YORK S/A DIMENSIONAL EMERGI BADAN USAHA ASINGFOREIGN CORPORATION 39.760.900 0,54

11. RD PREMIER ETF INDO STATE-OWNED COMPANY REKSADANAMUTUAL FUND 37.644.318 0,52

12. REKSA DANA MANDIRI INVESTA CERDAS BANGSA REKSADANAMUTUAL FUND 36.345.600 0,50

13. PT ASURANSI JIWA ADISARANA WANAARTHA-D ASURANSIINSURANCE 33.780.600 0,46

14. SLFI AGGRESSIVE FUND-857124000 ASURANSIINSURANCE 33.120.500 0,45

15. BNYM RE ERS PUBLIC EQUITY EMERGING MANAG BADAN USAHA ASINGFOREIGN CORPORATION 30.834.500 0,42

16. NT TST CO S/A LSV EMERGING MARKETS SMALL BADAN USAHA ASINGFOREIGN CORPORATION 30.566.200 0,42

17. SSB OM56 S/A VFM EMERGING MARKETS TRUST BADAN USAHA ASINGFOREIGN CORPORATION 30.499.200 0,42

18. RD MANDIRI INVESTA EQUITY MOVEMENT REKSADANAMUTUAL FUND 30.378.900 0,42

19. BNYM RE ACADIAN EM MKTS SM ALL CAP EQ FD BADAN USAHA ASINGFOREIGN CORPORATION 28.797.300 0,39

20. RD MANULIFE DANA SAHAM UTAMA REKSADANAMUTUAL FUND 28.350.600 0,39

EMPLOYEE STOCK OWNERSHIPUntil the end of fiscal year 2019, the number of ELSA shares owned by the Company's employees is 5,816,000 shares or 0.08% of the total shares. And at the senior management level (one level below the Board of Directors) amounted to 100,000 shares or 0.001% of the total number of shares.

TOP 20 LARGEST SHAREHOLDERS


KRONOLOGIS PENERBITAN DAN PENCATATAN SAHAMSharelisting and Issuance Chronology

Kronologis Penerbitan dan Pencatatan SahamShare Listing and Issuance Chronology

Aksi KorporasiCorporate Action

Tanggal PeristiwaDate

Modal Dasar(Rp miliar)Authorized Capital (Rp

billion)

Modal Ditempatkan dan Disetor Penuh

(Rp miliar)Issued & Fully Paid Capital (Rp billion)

Nilai Nominal Saham

(Rp/lembar saham)

Nominal Value per Share (Rp)

Jumlah Lembar Saham yang Dikeluarkan

(lembar)Total Share Issued

Sebelum Aksi KorporasiBefore Corporate Action 750 583,35 500 1.167.700.000

Peningkatan Modal DasarCapital Enlargement

9 Oktober 2007October 9, 2007 2.250 583,35 500 5.838.500.000

Pemecahan Nilai Nominal Saham 1:5Stock Split 1:5

9 Oktober 2007October 9, 2007 2.250 583,35 500 5.838.500.000

Penawaran Umum PerdanaSebanyak 20% dari Modal Dasaratau Sebanyak 1.460.0000.0000Lembar SahamInitial Public Offering (IPO) Amounting to20% of Authorized Capital or Equivalentto 1,460,000,000 Shares

29-31 Januari 2008January 29-31, 2008

2.250 729,85 100 7.298.500.000

Mencatatkan Saham Perseroan yang Beredar Sebanyak 7.298.500.000 Lembar Saham di BEI dengan Kode Perdagangan “ELSA”Listed 7,298,500,000 Shares Issued at IDX under “ELSA” Ticker

6 Februari 2008February 6, 2008 2.250 729,85 100 7.298.500.000

Pembelian Kembali 99.738.000 Lembar Saham dan Mencatatkannya sebagai Saham TreasuryBuy Back of 99,738,000 Shares & Recorded Them as Treasury Stocks

13 Oktober 2008October 13, 2008

2.250 729,85 100 7.298.500.00012 Januari 2009January 12, 2009

Menerbitkan Keterbukaan Informasi untuk Melakukan Penjualan Kembali atas Saham Treasury melalui BEI, Efektif Mulai 2 Januari 2012Published an Information Regarding SellBack Program on Treasury Stock in IDX,Effectively on January 2, 2012

16 Desember 2011December 16, 2011

2.250 729,85 100 7.298.500.000

Menerbitkan Keterbukaan Informasi, Perseroan Telah Melakukan Pengalihan/Penjualan atas Seluruh Saham Hasil Pembelian KembaliPublished an Information DisclosureRegarding Sell Back of the Company onthe Buy Back Program

28 Juni 2013June 28, 2013 2.250 729,85 100 7.298.500.000



KRONOLOGIS PENAWARAN UMUMPERDANA SAHAM

Sebelum melakukan Penawaran Umum Perdana Saham, jumlah saham Perseroan adalah 5.838.500.000 lembar, setelah pada tanggal 9 Oktober 2007, Perseroan melakukan Peningkatan Modal Dasar dan Pemecahan Nilai Nominal Saham 1:5, dari jumlah saham Perseroan sebelum melakukan aksi korporasi yang sebesar 1.167.700.000 lembar saham. Pada tanggal 25 Januari 2008, Badan Pengawas Pasar Modal dan Lembaga Keuangan (“Bapepam-LK”) menerbitkan Surat Pemberitahuan Efektif Pernyataan Pendaftaran sehubungan dengan Penawaran Umum Saham Perdana Perseroan sebanyak 1.460.000.000 saham. Pada tanggal 6 Februari 2008, saham Perseroan mulai diperdagangkan di Bursa Efek Indonesia (BEI) dengan harga penawaran perdana sebesar Rp400 (nilai penuh) per saham.

Per 31 Desember 2019, komposisi Pemegang Saham Perseroan adalah PT Pertamina (Persero) 41,10% (selaku pemegang saham utama dan pengendali Perseroan), Dana Pensiun Pertamina 14,90%, dan Publik (masing-masing kepemilikan kurang dari 5%) 44,00%, seperti yang dapat dilihat pada bagian Komposisi Pemegang Saham yang telah di ulas sebelumnya.

CHRONOLOGY OF INITIAL PUBLICOFFERING OF SHARES

Before conducting an Initial Public Offering, the number of shares of the Company was 5,838,500,000 shares. On October 9, 2007, the Company made an Increase in Authorized Capital and Splitting Nominal Value of Shares 1: 5, from the total number of shares of the Company before carrying out corporate actions amounting to 1,167,700,000 shares. On January 25, 2008, the Capital Market and Financial Institution Supervisory Agency ("Bapepam-LK") issued an Effective Notice of Registration Statement in connection with the Company's Initial Public Offering of 1,460,000,000 shares. On February 6, 2008, the Company's shares began to be traded on the Indonesia Stock Exchange (IDX) at an initial offering price of Rp400 (full amount) per share.

As of December 31, 2019, the composition of the Company's Shareholders was PT Pertamina (Persero) 41.10% (as the main and controlling shareholder of the Company), Pertamina's Pension Funds of 14.90%, and the Public (each ownership less than 5%) 44.00%, as can be seen in the Shareholders Composition section previously reviewed.

KRONOLOGIS PENERBITAN DAN PENCATATAN EFEK LAINNYAChronology of Issuance and Listing of Other Securities

Sampai dengan 31 Desember 2019, Perseroan tidak menerbitkan efek seperti obligasi, sukuk, obligasi konversi atau efek lainnya di bursa efek baik yang berada di Indonesia maupun di luar negeri. Dengan demikian, tidak terdapat informasi terkait nama efek lainnya, tahun penerbitan efek lainnya, tingkat bunga/imbalan efek lainnya, dan tanggal jatuh tempo efek lainnya; nilai penawaran efek lainnya; nama bursa di mana efek lainnya dicatatkan; dan peringkat efek.

As of December 31, 2019, the Company did not issue securities such as bonds, sukuk, convertible bonds or other securities in the stock exchange both in Indonesia and abroad. Accordingly, there is no information regarding the names of other securities, year of issuance of other securities, interest rates/other securities rewards, and other securities due dates; the value of other securities offering; the name of the exchange where other securities are listed; and rating effects.


STRUKTUR GRUP PERSEROANCompany Group Structure

100,00%

100,00%

PT Elnusa Tbk

44,00%14,90%

99,99%

99,99%

99,50%

99,99%

99,93%

99,98%

99,58%

41,10%

Entitas Induk TertinggiUltimate Parent Entity

Parent EntityPrimary Share Holders

Entitas Anak Tidak LangsungIndirect Subsidiries

Entitas Induk Pemegang Saham UtamaMain Shareholders Entity

Entitas AnakSubsidiaries

Pemerintah RepublikIndonesia

Republic of Indonesia

PT Pertamina (Persero)

PT Elnusa Daya Kreatif

PT Elnusa Oilfield Services

PT Elnusa Geosains Indonesia

PT Patra NusaData

PT SigmaCipta Utama

PT ElnusaPetrofin

PT Elnusa Fabrikasi

Konstruksi

PT Elnusa Trans

Samudera

PublikPublic<5%

Dana Pensiun Pertamina Pertamina Pension Fund



DAFTAR ENTITAS ANAK DAN ENTITAS ASOSIASI, VENTURA BERSAMA/KERJA SAMA OPERASIList of Subsidiaries and Associates, Joint Ventures/Joint Operations

Daftar Entitas AnakList of Subsidiaries

NamaName

Bidang UsahaBusiness Field

DomisiliDomicile

Tahun Berdiri

Year Established

Tahun Beroperasi Komersial

Year Launched

Tahun Penyertaan

ModalYear of Equity

Participation

Kepemilikan oleh Elnusa

Ownership by Elnusa

(%)

Jumlah Aset(Rp juta)

Total Asset (Rp million)

Status Operasi

Operational Status

2019 2018 2019 2018

Entitas Anak Kepemilikan LangsungDirect Ownership Subsidiaries

PT Elnusa Oilfield Services

Jasa Pengeboran dan Pemeliharaan Lapangan MigasOil and Gas Field Drilling and Maintenance Services

Jakarta 2014 - 2014 99,99 99,99 36.513 35.576

Belum BeroperasiNot Working

PT Elnusa Geosains Indonesia

Jasa Akuisisi Data Geofisika/Survei Seismik Migas Geophysical Data Acquisition Services/Oil and Gas Seismic Survey

Jakarta 2014 - 2014 99,99 99,99 11.601 12.270


PT Elnusa Petrofin

Jasa penyimpanan BBM, pendistribusian BBM, perdagangan BBM Industri & Marine, perdagangan chemicals, perdagangan pelumas & aspal, serta pengelolaan SPBU & SPBEFuel storage service, fuel distribution, fuel trade for Industry & Marine, chemical trading, lubricant and asphalt trade, and the management of gas stations (SPBU) and LPG filling stations (SPBE)

Jakarta 1996 1997 1996 99,93 99,93 1.974.247 1.378.949 BeroperasiWorking

PT Elnusa Fabrikasi Konstruksi

Jasa fabrikasi, penguliran dan perdagangan pipa Oil Country Tubular Goods (OCTG), proyek EPC dan Maintenance ServicesOil Country Tubular Goods (OCTG) fabrication, threading and trading services (OCTG), EPC projects, and Maintenance Services

Batam 1982 1982 1982 99,98 99,98 162.894 109.430 Beroperasi Working

Hingga akhir tahun 2019, Elnusa tidak memiliki Entitas Asosiasi dan hanya memiliki Entitas Anak serta Ventura Bersama/Kerja Sama OperasiUntil the end of 2019, Elnusa has no Associated Entities and only has Subsidiaries and Joint Ventures/Joint Operations


Daftar Entitas AnakList of Subsidiaries

NamaName

Bidang UsahaBusiness Field

DomisiliDomicile

Tahun Berdiri

Year Established

Tahun Beroperasi Komersial

Year Launched

Tahun Penyertaan

ModalYear of Equity

Participation


Ownership by Elnusa

(%)

Jumlah Aset(Rp juta)

Total Asset (Rp million)

Status Operasi

Operational Status

2019 2018 2019 2018

PT Patra Nusa Data

Jasa perolehan lisensi, pengelolaan data migas, data online (pay per use) dan penyimpanan data fisik migasLicense acquisition services, oil and gas data management, online data (pay per use), and physical data storage for oil and gas

Jakarta 1997 1998 1997 99,50 99,50 141.794 149.381 BeroperasiWorking

PT Sigma Cipta Utama

Jasa penyimpanan data fisik, pengelolaan data elektronik & sistem informasi, penyimpanan contoh batuan migas, telekomunikasi radio, dan jasa aplikasi sistem ITPhysical data storage services, electronic data management and information systems, storage of geological samples, radio telecommunications, IT system application services


PT Elnusa Trans Samudera

Jasa pendukung layanan marine migasMarine oil and gas support services


Entitas Anak Kepemilikan Tidak Langsung (Kepemilikan melalui PT Elnusa Fabrikasi Konstruksi)Indirect Subsidiary Entity (Ownership through PT Elnusa Fabrikasi Konstruksi)

PT Elnusa Daya Kreatif

Jasa Konsultasi Bidang Manajemen Sumber Daya Manusia Konsultasi Bidang Listrik, & PerdaganganConsulting Services in the Field of Human Resources Management in the Field of Electricity & Trade Consultation

Jakarta 2015 - 2015 99,99 99,99 10.001 10.001


Daftar Ventura Bersama/Kerja Sama Operasi (KSO)Joint Venture List/Joint Operations (KSO)

NamaName

ProyekProject

Tahun KerjasamaPartnership

Year

Nama Perusahaan yang

BekerjasamaName of

Collaborating Company


Ownership by Elnusa

(%)

Kepemilikan oleh WAS

Ownership by WAS(%)

Jumlah AsetTotal Asset(Rp-juta)

Status Operasi

Operational Status

2019 2018 2019 2018 2019 2018

KSO Elnusa-WAS

Jasa pemeliharaanelektrikal dan instrumentasi dari BP Berau Ltd.Electrical and instrumentation maintenance services from BP Berau Ltd.

2016 PT Waskita AdhiSejahtera (WAS) 51,00 51,00 49,00 49,00 77.437 23.280 Beroperasi

Working



ENTITAS ANAKPT ELNUSA OILFIELD SERVICESPerusahaan di dirikan pada tahun 2014, dengan bidang usaha Jasa Pengeboran dan Pemeliharaan Lapangan Migas.

Komposisi Kepemilikan Saham per 31 Desember 2019Kepemilikan Saham PT Elnusa terhadap PT ELNUSA OILFIELD SERVICES 99,99%

Share Ownership Composition as of December 31, 2019PT Elnusa’s Share Ownership in PT ELNUSA OILFIELD SERVICES 99.00%

Manajemen Kunci per 31 Desember 2019Key Management as of December 31,2019

Dewan Komisaris Arief RIyanto Board of CommissionersDireksi Dian Sri Santoso Board of Directors

Kinerja Keuangan 2018-2019Financial Performance 2018-2019

Uraian2019

(Rp juta)(Rp million)

2018(Rp juta)

(Rp million)

Pertumbuhan 2018-2019Growth 2018-2019

(%)Description

Pendapatan 4.046 4.905 (18) IncomeBeban Usaha 3.611 3.693 (2) Operating ExpensesLaba Bersih 1.462 1.184 23 Net ProfitAset 36.512 35.576 3 AssetLiabilitas 43 568 (92) LiabilityEkuitas 36.469 35.007 4 Equity

PT ELNUSA GEOSAINS INDONESIAPerusahaan yang didirikan pada tahun 2014 yang memiliki bidang usaha atas Jasa Akuisisi Data Geofisika/Survei Seismik Migas.

Komposisi Kepemilikan Saham per 31 Desember 2019Kepemilikan saham PT Elnusa terhadap PT ELNUSA GEOSAINS INDONESIA 99,99%

Share Ownership Composition as of December 31, 2019PT Elnusa’s Share Ownership in PT ELNUSA GEOSAINS INDONESIA 99.99%


Dewan Komisaris Hery Setiawan Board of CommissionersDireksi Sopyan Mardiana Board of Directors


Uraian2019


2018(Rp juta)

(Rp million)

Pertumbuhan 2018-2019Growth 2018-2019

(%)Description

Pendapatan 0 - - IncomeBeban Usaha 359 389 (8) Operating ExpensesLaba Bersih (668) 404 (265) Net ProfitAset 11.600 12.269 (5) AssetLiabilitas - - - LiabilitiesEkuitas 11.600 12.269 (5) Equity

SUBSIDIARYPT ELNUSA OILFIELD SERVICESThe Company was founded in 2014 for oil and gas field drilling and maintenance services.

PT ELNUSA GEOSAINS INDONESIAThe Company was founded in 2014 dealing with Geophysical Data Acquisition Services/Oil and Gas Seismic Survey.


PT ELNUSA PETROFINPT Elnusa Petrofin (Perusahaan) didirikan berdasarkan Akta Notaris Ny. Pudji Redjeki Irawati, S.H., No. 57 tanggal 5 Juli 1996. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia berdasarkan Surat Keputusan No. C2-4.559.HT.01.01.TH.97 tanggal 3 Juni 1997. Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir berdasarkan Akta Notaris No. 10 tanggal 30 September 2019 oleh Notaris Ulia Azhar, S.H., Mkn. Akta tersebut telah diberitahukan kepada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dan memperoleh surat penerimaan pemberitahuan No. AHU-00773.AH.01.02 tahun 2019 tanggal 3 Oktober 2019.

Saat ini, Perusahaan melakukan aktivitas usaha meliputi pengelolaan Stasiun Pengisian Bahan Bakar Umum (SPBU), dan Depo, jasa transportasi dan pengelolaan truk tangki serta perdagangan Bahan Bakar Minyak (BBM), pelumas dan bahan kimia.

Komposisi Kepemilikan Saham per 31 Desember 2019Share Ownership Composition as of December 31, 2019

Pemegang SahamShareholders

Jumlah Saham Ditempatkan

dan Disetor PenuhNumber of Share Issued

and Fully Paid

Persentase kepemilikanPercentage of Ownership

Jumlah Total

PT Elnusa Tbk 19.900 99,5% 597.000PT Elnusa Trans Samudra 100 0,5% 3.000Jumlah/Total 20.000 100,00% 600.000


Dewan Komisaris

Alfian Nasution

Board of CommissionersHery Setiawan

Eldi HendryAgus MaulanaDjoko Siswanto

DireksiHaris Syahrudin

Board of DirectorsAditya DewobrotoNurkholis


Uraian2019


2018(Rp juta)

(Rp million)

PertumbuhanGrowth

2018-2019 (%)Description

Pendapatan 4.364.089 3.892.297 12 IncomeBeban Usaha 3.909.600 3.508.346 11 Operating ExpensesLaba Bersih 271.344 235.721 15 Net ProfitAset 1.974.247 1.378.949 43 AssetLiabilitas 1.107.918 715.780 55 LiabilitiesEkuitas 207.500 663.169 31 Equity

PT ELNUSA PETROFINPT Elnusa Petrofin (Company) was established based on Notarial Deed Ny. Pudji Redjeki Irawati, S.H., No. 57 dated July 5, 1996. This deed of establishment was ratified by the Minister of Justice of the Republic of Indonesia based on Decree No. C2-4,559.HT.01.01.TH.97 dated June 3, 1997. The Company's Articles of Association have been amended several times, most recently based on Notarial Deed No. 10 dated September 30, 2019 by Notary Ulia Azhar, SH., Mkn. The deed was notified to the Minister of Law and Human Rights of the Republic of Indonesia and obtained a letter of receipt of notification No. AHU-00773.AH.01.02 year 2019 dated October 3, 2019.

At present, the Company conducts business activities including the management of Public Filling Stations (SPBU), and Depots, transportation services and management of tanker trucks and trading in Fuel Oil (BBM), lubricants and chemicals.



PT ELNUSA FABRIKASI KONSTRUKSIPT ELnusa Fabrikasi Konstruksi (EFK) didirikan berdasarkan Akta No. 15 oleh Notaris Sinta Susikto, S.H. tanggal 7 Mei 1982. Pendirian EFK telah memperoleh pengesahan dari menteri Kehakiman Republik Indonesia melalui Surat Keputusan No. C2-5406 HT.01.01 TH 83 Tanggal 6 Agustus 1983. Anggaran Dasar Perusahaan terakhir berdasarkan Akta Notaris No. 43 tanggal 26 Juni 2018 dari Taufani, S.H. Terkait peningkatan modal ditempatkan dan disetor Perusahaan. Perubahan ini telah diterima oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Surat Penerimaan Pemberitahuan Perubahan Anggaran Dana Perusahaan No. AHU-AH.01.03-0216838 tanggal 29 Juni 2018. Saat ini Perusahaan bergerak dalam bidang jasa penguliran pipa dan penjualan pipa. Pembuatan connector, coupling, dan peralatan lainnya yang digunakan untuk pengeboran minyak dan gas bumi.



Jumlah Saham Ditempatkan

dan Disetor PenuhNumber of Share Issued

and Fully Paid

Persentase KepemilikanPercentage of Ownership

Jumlah Total

PT Elnusa Tbk 443.851 99,98% 443.851.000Drs. Anas Mappe Siri 68 0,02% 68.000Jumlah/Total 443.919 100,00% 443.919.000


Dewan Komisaris Arief RIyanto Board of CommissionersDireksi Hafid Mulyadi Board of Directors


Uraian2019


2018(Rp juta)

(Rp million)

PertumbuhanGrowth


Pendapatan 277.614 135.655 105 IncomeBeban Usaha 264.487 132.961 99 Operating ExpensesLaba Bersih 8.430 308 2.637 Net ProfitAset 162.894 109.430 49 AssetLiabilitas 102.495 57.461 78 LiabilitiesEkuitas 60.399 51.969 16 Equity

PT ELNUSA FABRIKASI KONSTRUKSIPT Elnusa Fabrikasi Konstruksi (EFK) was established based on Deed No. 15 by Notary Sinta Susikto, S.H. dated May 7, 1982. The establishment of EFK was approved by the Minister of Justice of the Republic of Indonesia through Decree No. C2-5406 HT.01.01 TH 83 Dated August 6, 1983. The latest Articles of Association of the Company based on Notarial Deed No. 43 June 26, 2018 from Aulia Taufani S.H. Related to the increase in the Company's issued and paid up capital. This amendment was received by the Minister of Law and Human Rights of the Republic of Indonesia through the Letter of Acceptance of Notification of Amendment to the Articles of Association of the Company No. AHU-AH.01.03-0216838 dated June 29, 2018. Currently the Company is engaged in pipe rolling services and pipe sales. Manufacture of connectors, couplings, and other equipment used for oil and gas drilling.


PT PATRA NUSA DATAPT Patra Nusa Data (Perusahaan) didirikan pada tanggal 4 November 1997 berdasarkan Akta Pendirian No. 5 dari Notaris Pudji Redjeki Irawati, S.H., yang kemudian diubah dan diperbaiki dengan Akta Notaris No. 15 tanggal 12 Mei 1999 dari notaris yang sama. Perubahan akta pendirian Perusahaan tersebut telah mendapat pengesahan dari Menteri Kehakiman Republik Indonesia melalui Surat Keputusan No. C2-15964 HT.01.01 tanggal 3 Desember 1999 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 96 dan Tambahan Lembaran Negara No. 8044 tanggal 30 November 1999. Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan. Perubahan Anggaran Dasar terakhir berdasarkan keputusan pemegang saham yang dinyatakan dalam Akta Notaris Pudji Redjeki Irawati, S.H. No. 66 tanggal 23 Maret 2009 mengenai tempat kedudukan Perusahaan yang semula berkedudukan di Jakarta Utara berubah menjadi Jakarta Selatan. Perubahan Anggaran Dasar ini telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia berdasarkan Surat Keputusan No. AHU-32475.AH.01.02 tanggal 13 Juli 2009. Ruang lingkup kegiatan Perusahaan meliputi usaha dalam bidang jasa perolehan dan pengelolaan data minyak dan gas bumi yang mencakup studi perencanaan dan kelayakan, pembuatan sistem informasi dan proses pengelolaan data, konsultasi pengelolaan data serta mendapatkan data spatial melalui kegiatan foto udara/citra satelit.



Jumlah Saham Ditempatkandan Disetor Penuh

Number of Share Issuedand Fully Paid


Jumlah Total

PT Elnusa Tbk 19.900 99,5% 597.000PT Elnusa Trans Samudra 100 0,5% 3.000Jumlah/Total 20.000 100,00% 600.000


Dewan KomisarisBudi Rahardjo

Board of CommissionersHappy Paringhadi JS

Direksi Hariyono Board of Directors


Uraian2019


2018(Rp juta)

(Rp million)

PertumbuhanGrowth


Pendapatan 47.420 75.882 (38) IncomeBeban Usaha 43.491 63.597 (32) Operating ExpensesLaba Bersih 1.780 13.889 (87) Net ProfitAset 141.794 149.381 (5) AssetLiabilitas 13.196 9.244 43 LiabilityEkuitas 128.598 140.137 (8) Equity

PT PATRA NUSA DATAPT Patra Nusa Data (Company) was established on November 4, 1997 based on Deed of Establishment No. 5 of Notary Pudji Redjeki Irawati, S.H., which was later amended and revised by Notarial Deed No. 15 dated May 12, 1999 from the same notary. The amendment to the establishment of the Company has been approved by the Minister of Justice of the Republic of Indonesia through Decree No. C2-15964 HT.01.01 dated December 3, 1999 and has been announced in the State Gazette of the Republic of Indonesia No. 96 and Supplement to the State Gazette No. 8044 dated November 30, 1999. The Company's Articles of Association have been amended several times. The latest amendment to the Articles of Association is based on the decision of the shareholders stated in the Notarial Deed of Pudji Redjeki Irawati, S.H. No. 66 dated March 23, 2009 concerning the location of the Company which was originally based in North Jakarta and then changed to South Jakarta. This amendment to the Articles of Association was approved by the Minister of Law and Human Rights based on Decree No. AHU-32475.AH.01.02 dated July 13, 2009. The scope of the Company's activities includes businesses in the field of oil and gas data acquisition and management services which include planning and feasibility studies, making information systems and data management processes, consulting data management and obtaining data spatial through aerial photography/satellite imagery activities.



PT SIGMA CIPTA UTAMAPT Sigma Cipta Utama (SCU) yang merupakan anak perusahaan dari PT Elnusa Tbk telah didirikan sejak 8 April 1980. Perusahaan bisnis dimulai dengan manajemen data di industri minyak dan gas. Konsisten dengan Kebijakan Holding Company Elnusa, SCU ditunjuk sebagai satu-satunya anak tunggal yang bertanggung jawab atas Manajemen Data di Elnusa Group. Sejak November 2007 PT Elnusa Telematika berpengalaman dalam bidang telematika (sejak 1984) dan PT Elnusa Rentrakom berpengalamn dalam bidang telekomunikasi (sejak 1997), bergabung dengan SCU untuk memperkuat dan melengkapi kompetensi dan perusahaan bisnis di bidang Jasa Mananjemen Data.






Jumlah Total

PT Elnusa Tbk 1.155.450 99,99% 115.545.000.000Ir. Sakti Tamat 150 0,01% 15.000.000Jumlah/Total 0,42% 100,00% 115.560.000.000


Dewan Komisaris Happy Paringhadi JS Board of CommissionersDireksi Hariyono Board of Directors


Uraian2019


2018(Rp juta)

(Rp million)

PertumbuhanGrowth


Pendapatan 103.554 90.107 15 IncomeBeban Usaha 86.741 73.905 17 Operating ExpensesLaba Bersih 12.012 13.163 (9) Net ProfitAset 156.015 137.532 13 AssetLiabilitas 31.689 24.593 29 LiabilitiesEkuitas 124.326 112.939 10 Equity

PT SIGMA CIPTA UTAMAPT Sigma Cipta Utama (SCU) which is a subsidiary of PT Elnusa Tbk has been running since April 8, 1980. The company began with data management in the oil and gas industry. Consistent with Elnusa's Holding Company Policy, SCU was appointed as the only subsidiary in charge of Data Management at Elnusa Group. Since November 2007 PT Elnusa Telematics works in the field of telematics (since 1984) and PT Elnusa Rentrakom works in telecommunications (since 1997), joining SCU to strengthen and complement competencies and business companies in the field of Data Management Services.


PT ELNUSA TRANS SAMUDERAPT ELnusa Trans Samudera (ETSA) didirikan berdasarkan Akta No. 01 oleh Notaris Ariani L Rachim, S.H. tanggal 8 November 2013 dan telah memperoleh pengesahan dari Menteri Kehakiman Republik Indonesia melalui Surat Keputusan No. AHU-64876.AH.01.01 Tahun 2013 tanggal 11 Desember 2013. Anggaran dasar telah mengalami beberapa kali perubahan, terakhir berdasarkan Akta Notaris Ulia Azhar SH M.Kn No. 10 tanggal 20 September 2017 mengenai perubahan pasal 3 Anggaran dasar Perseroan. Perubahan Anggaran Dasar tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia berdasarkan Surat Keputusan No. AHU-0019420.AH.01.02 tahun 2017 tanggal 22 September 2017. Adapun perubahan tersebut mencakup ruang lingkup kegiatan bergerak dalam bidang pelayaran dalam negeri meliputi jasa penyewaan kapal laut dana gen perkapalan perusahaan pelayaran, jasa pelayaran, jasa angkutan moda laut dalam negeri dan luar negeri, dan jasa maritim.






Jumlah Total

PT Elnusa Tbk 273.630 99,58% 273.630.000PT Elnusa Fabrikasi Konstruksi 1.143 0,42% 1.143.000Jumlah/Total 274.773 100,00% 274.773.000


Dewan KomisarisArief Riyanto

Board of CommissionersJoko Eko Purwanto

Direksi Didik Purwanto Board of Directors


Uraian2019


2018(Rp juta)

(Rp million)

PertumbuhanGrowth


Pendapatan 364.429 339.152 7 IncomeBeban Usaha 334.834 305.426 10 Operating ExpensesLaba Bersih 29.009 27.676 5 Net ProfitAset 500.169 416.776 20 AssetLiabilitas 124.807 70.424 77 LiabilitiesEkuitas 375.362 346.352 8 Equity

PT ELNUSA DAYA KREATIFYang merupakan anak perusahaan dari PT Elnusa Fabrikasi dan Konstruksi telah didirikan sejak 6 Maret 2015. Saat ini belum beroperasi.

PT ELNUSA TRANS SAMUDERAPT ELnusa Trans Samudera (ETSA) was established based on Deed No. 01 by Notary Ariani L Rachim, S.H. on November 8, 2013 and was approved by the Minister of Justice of the Republic of Indonesia through Decree No. AHU-64876.AH.01.01 of 2013 dated December 11, 2013. The articles of association have been amended several times, most recently based on Deed of Ulia Azhar SH M.Kn No. 10 dated September 20, 2017 concerning amendment to article 3 of the Company's Articles of Association. The amendment to the Articles of Association was approved by the Minister of Law and Human Rights of the Republic of Indonesia based on Decree No. AHU-0019420.AH.01.02 of 2017 dated September 22, 2017. The amendments cover the scope of activities engaged in the field of domestic shipping, including the rental of marine vessels and shipping companies, shipping services, domestic and foreign modes of transportation and maritime services.

PT ELNUSA DAYA KREATIFWhich is a subsidiary of PT Elnusa Fabrication and Construction was established on March 6, 2015. Currently it is not yet operational.



ALAMAT ENTITAS ANAK DAN/ATAU KANTOR CABANG ATAU KANTOR PERWAKILANAddresses of Subsidiaries and/or Branch Offices or Representative Offices

KANTOR PUSATHeadquarter

PT ELNUSA TBKGraha Elnusa 16th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0850 (Hunting)Faksimili/Facsimile: +62 21-7883 0907Surel/Email: [email protected]/[email protected] Web/Website: www.elnusa.co.id

LINI BISNISBusiness Lines

Geoscience & Reservoir ServicesGraha Elnusa 15th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0850 (Hunting)Faksimili/Facsimile: +62 21-7883 1072

Production, Operation & Maintenance ServicesGraha Elnusa 11th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0850 (Hunting)Faksimili/Facsimile: +62 21-7884 5507

KANTOR CABANG ATAU KANTOR PERWAKILANBranch or Representative Offices

BALIKPAPAN REPRESENTATIVE OFFICEJl. Mulawarman No. 91, BatakanBalikpapan 76116-IndonesiaTelepon/Telephone: +62 542-770 139, 770 169Faksimili/Facsimile: +62 542-770 230

CIREBON REPRESENTATIVE OFFICEJl. Perum Pertamina Klayan No. B33/34Cirebon-Indonesia


ALAMAT ENTITAS ANAKSubsidiaries Address

PT ELNUSA GEOSAINS INDONESIAGraha Elnusa 15th floorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0850 (Hunting)Faksimili/Facsimile: +62 21-7883 1072

PT ELNUSA OILFIELD SERVICESGraha Elnusa 11th floorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0850 (Hunting)Faksimili/Facsimile: +62 21-7884 5507

PT ELNUSA FABRIKASI KONSTRUKSIGraha Elnusa 10th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7884 3713, 7884 5519,7884 6437, 7884 7014Faksimili/Facsimile: +62 21-7884 5528

Head Office and FactoryJl. Tenggiri No. 2 Batu AmparBatam Island-IndonesiaTelepon/Telephone: +62 0778-412 152, 412 156Faksimili/Facsimile: +62 0778-412 151Surel/Email: [email protected] Web/Website: www.elnusa-konstruksi.co.id

PT ELNUSA PETROFINGraha Elnusa 14th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0860 (Hunting)Faksimili/Facsimile: +62 21-7883 0853Surel/Email: [email protected] Web/Website: www.elnusapetrofin.co.id

PT SIGMA CIPTA UTAMAGraha Elnusa 10th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7883 0856 (Hunting)Faksimili/Facsimile: +62 21-7883 0857Surel/Email: [email protected] Web/Website: www.scu.co.id

Representative OfficeTaman Tekno BSDTekno I Blok B5-B7 Sektor XITangerang 15314-IndonesiaTelepon/Telephone: +62 21-7587 1955Faksimili/Facsimile: +62 21-7587 1933

PT PATRA NUSA DATAGraha Elnusa 10th FloorJl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-7816 770Faksimili/Facsimile: +62 21-7816 775Surel/Email: [email protected]@patranusa.comSitus Web/Website: www.patranusa.com

Representative OfficeTaman Tekno BSD XI Blok G2/1Tangerang 15314-IndonesiaTelepon/Telephone: +62 21-7588 2510Faksimili/Facsimile: +62 21-7588 2511

PT ELNUSA TRANS SAMUDERAGraha ETSA (Ex. Dana Pensiun Elnusa)Jl. TB Simatupang Kav. 1BJakarta 12560-IndonesiaTelepon/Telephone: +62 21-78846667Faksimili/Facsimile: +62 21-78846669Situs Web/Website: www.etsa.co.id

VENTURA BERSAMA/KERJA SAMA OPERASI (KSO)JOINT VENTURE/OPERATION COOPERATION

KSO ELNUSA Graha Elnusa 2nd FloorJl. TB Simatupang Kav.1BTelepon/ Telephone : +6221-7883 0850 (Hunting)



WILAYAH OPERASIONALOperational Area

WILAYAH OPERASI JASA HULU MIGASOperational Area of Upstream Oil & Gas Services

Geoscience & Reservoir ServicesWilayah | Area DKI Jakarta | DKI JakartaJawa Tengah | Central Java Jawa Barat | West Java

Klien | ClientsPT Pertamina EPPT Pertamina Hulu EnergiPT Patra Nusa DataPT Saka IndonesiaPT Premier OilKementerian Energi dan Sumber Daya Manusia | Ministry of Energy and Human ResourcesPT Conoco PhillipsPT Mandala Energy PT RepsolPT Pratama WidyaPT Wijaya Karya

Geoscience & Reservoir Services Wilayah | AreaSumatera Selatan | South Sumatera

AcehJambi

Klien | ClientsPT Pertamina EP

PT Mandala Energy

Production, Operation &Maintenances Services

Wilayah | AreaSumatera Selatan | South SumateraSumatera Utara | North SumateraSumatera Barat | West Sumatera

Aceh JambiRiau

Klien | ClientsPT Pertamina Geothermal EnergyPT Pertamina Eksplorasi SumateraPT Hexindo/Mandala Energy

PT Pertamina EPPT HexindoPT Star EnergyPT Ramba Energy

PT Pertagas

Sumatera Selatan/South Sumatera

Kalimantan Timur /East Kalimantan

Sumatera Utara/North Sumatera

Sumatera Barat/West Sumatera

Kalimantan Tengah/Central Kalimantan

Aceh

DKI JakartaJawa Barat/West Java

Jawa Timur/East Java

Jambi

Jawa Tengah/Central Java


Production, Operation & Maintenances ServicesWilayah | Area DKI Jakarta | DKI JakartaJawa Tengah | Central Java Jawa Barat | West JavaJawa Timurl | East Java

Klien | ClientsPT Pertamina Hulu Energi PT Pertamina EPPT Pertamina Petrochina East Java PT PGE Saka EnergyPT Pertamina GasPT Pertamina Hulu MahakamPT Pertamina Geothermal Energy

Production, Operation & Maintenances ServicesWilayah | Area Kalimantan Timur | East KalimantanSulawesi Tengah | Central SulawesiPapua Barat | West Papua

Klien | ClientsPT Pertamina EPPT NYTPT Vico IndonesiaPT Total E&P IndonesiaPT PHSSPT PHKTPT Pertamina Hulu MahakamPT BP BerauPT PetrogasPT Total E&P Indonesie

Geoscience & Reservoir Services Wilayah | AreaKalimantan Tengah | Central Kalimantan

Papua Barat | West Papua

Klien | ClientsPT Pertamina EP

PT Conoco Phillips

Sulawesi Tengah /Central Sulawesi

Papua Barat/West Papua

Sorong



Transportasi BBMFuel Fleet Management

Pengelolaan DepotDepot Management

Sumatera

1. Aceh2. Sumatera Utara

North Sumatera3. Riau4. Jambi5. Bangka Belitung6. Sumatera Selatan

South Sumatera7. Bengkulu8. Sumatera Barat

West Sumatera

Kalimantan

1. Kalimantan BaratWest Kalimantan

2. Kalimantan TimurEast Kalimantan

3. Kalimantan SelatanSouth Kalimantan

Bali

1. Bali

Sulawesi

1. Sulawesi UtaraNorth Sulawesi

2. Sulawesi TengahCentral Sulawesi

3. Sulawesi TenggaraSoutheast Sulawesi

4. Sulawesi SelatanSouth Sulawesi

5. Gorontalo

Nusa Tenggara

1. Nusa Tenggara BaratWest Nusa Tenggara

2. Nusa Tenggara TimurEast Nusa Tenggara

Papua & Maluku

1. Papua2. Maluku

Sumatera

1. Aceh2. Jambi3. Sumatera Selatan

South Sumatera

Kalimantan

1. Kalimantan TengahCentral Kalimantan


3. Kalimantan SelatanSouth KalimantanJawa | Java

1. DKI Jakarta Papua

1. Papua

Sumatera Selatan/South Sumatera



Sumatera Barat/West Sumatera Kepulauan Riau/

Riau Islands

Bangka Belitung

Bali

Bengkulu

Lampung

Jambi

Kalimantan Tengah/Central Kalimantan

Kalimantan Selatan/South Kalimantan

Kalimantan Barat/West Kalimantan

Aceh

DKI Jakarta

Jawa Barat/West Java



Pengelolaan DPPUDPPU Management

Perdagangan ChemicalChemical Trading

Perdagangan BBM InmarFuel Inmar Trading

Sumatera

1. Sumatera UtaraNorth Sumatera

2. Lampung

Jawa | Java

1. Jawa TimurEast Java

Sumatera

1. Sumatera UtaraNorth Sumatera

2. Sumatera SelatanSouth Sumatera

3. Kepulauan RiauRiau Islands

4. Sumatera Bagian TengahCentral Sumatera

Kalimantan

1. Kalimantan Timur East Kalimantan2. Kalimantan Selatan South Kalimantan

Jawa | Java

1. Jawa Barat West Java2. Jawa Tengah Central Java3. Jawa Timur East Java

Sumatera

1. SumateraSumatera

Bali & Nusa Tenggara

1. Bali2. Nusa Tenggara

Jawa | Java

1. DKI Jakarta & JawaDKI Jakarta & Java

Sulawesi

1. Sulawesi

Kalimantan

1. Kalimantan TengahCentral Kalimantan



4. Kalimantan SelatanSouth Kalimantan

WILAYAH OPERASI JASA DISTRIBUSI & LOGISTIK ENERGIOperational Area of Energy Distribution & Logistics Services


Sulawesi Selatan /South Sulawesi

Sulawesi Tenggara /Southeast Sulawesi

Gorontalo

Nusa Tenggara Barat /West Nusa Tenggara Nusa Tengara Timur /

East Nusa Tenggara

MalukuJayapura

Sulawesi Utara /North Sulawesi

Sulawesi Tengah / Central Sulawesi

Data Management

Geo IT Business

1. Jambi2. Sumatera Selatan

South Sumatera3. DKI Jakarta

Jawa & Bali:1. Jawa Barat

West Java2. Jawa Tengah

Central Java3. Jawa Timur

East Java4. Bali5. BantenGeodata Business

Sumatera:1. Aceh2. Sumatera Utara

North Sumatera3. Kepulauan Riau

Riau Islands4. Sumatera Selatan

South Sumatera5. Lampung6. Sumatera Barat

West Sumatera

Sulawesi:1. Sulawesi Selatan

South Sulawesi

Nusa Tenggara:1. Nusa Tenggara Barat

West Nusa Tenggara2. Nusa Tenggara Timur

East Nusa Tenggara

Kalimantan:1. Kalimantan Utara

North Kalimantan2. Kalimantan Timur

East Kalimantan3. Kalimantan Selatan

South Kalimantan

Papua & Maluku:1. Papua2. Maluku

OCTG, Maintenance, Fabrication & EPC Business

Sumatera

1. Aceh2. Sumatera Selatan

South Sumatera3. Riau4. Sumatera Utara

North Sumatera

Jawa | Java

1. DKI Jakarta2. Banten3. Jawa Barat



East Java

Kalimantan & Sulawesi

1. Kalimantan TimurWest Kalimantan

2. Sulawesi SelatanSouth Sulawesi

Kalimantan Timur /East Borneo


Kepulauan RiauRiau Islands

Bangka Belitung

Denpasar

Jambi

Kalimantan Selatan South Borneo

Aceh

DKI Jakarta

Laut Jawa

Batam

Jawa Barat/West Java


Jawa TengahCentral Java

Kepulauan RiauRiau Islands

Banten

Sumatera SelatanSouth Sumatera

Kalimantan Utara /North Borneo

Bengkulu



WILAYAH OPERASI JASA PENUNJANGOperational Area of Support Services

Physical & DigitalData Management Business

Digital Data Management

Sumatera:1. Sumatera Utara

North Sumatera2. Kepulauan Riau

Riau Islands3. Bangka Belitung4. Bengkulu5. Sumatera Selatan

South Sumatera

Kalimantan:1. Kalimantan Timur

East Kalimantan

Sulawesi:1. Sulawesi Tenggara

Southeast Sulawesi

Jawa | Java:1. DKI Jakarta2. Banten3. Jawa Barat



East Java

Papua & Maluku:1. Papua Barat

West Papua2. Maluku

Physical Data Management

1. Jambi2. Sumatera Selatan

South Sumatera3. Banten4. DKI Jakarta5. Jawa Barat

West Java

Bali & NTB:1. Bali2. Nusa Tenggara Barat

West Nusa Tenggara

Marine Support Services

Sumatera

1. Aceh2. Sumatera Selatan

South Sumatera

Jawa | Java

1. Jawa BaratWest Java

2. Jawa TimurEast Java

Kalimantan, Sulawesi, Maluku



3. Sulawesi TengahCentral Sulawesi

4. Sulawesi TenggaraSoutheast Sulawesi

5. Maluku Utara North Maluku

Kalimantan Timur /East Borneo

Sulawesi Selatan /South Sulawesi

Sulawesi Tenggara /South East Sulawesi

Sulawesi Tengah /Central Sulawesi

Nusa Tenggara Barat /West Nusa Tenggara

Nusa Tengara Timur / East Nusa Tenggara

Kupang

Maluku

Jayapura

Papua Barat /West Papua




DAFTAR LEMBAGA DANPROFESI PENUNJANG PERUSAHAANList of Supporting Institutions and Professionals of the Company

DAFTAR PENTING LAINNYAOther Important List

LembagaInstitutions

NamaName

AlamatAddress

Jenis JasaService Type

BiayaCost

Biro Administrasi EfekSecurities Administration Bureau

PT Datindo Entrycom

Jalan Hayam Wuruk no.28 Jakarta 10210, IndonesiaTelp. 021 - 350 8077Fax. 021 - 350 8078www.datindo.com

Pencatatan Daftar Pemegang Saham (DPS) atau jasa administrasi saham di Pasar Sekunder yang terdaftar di Bursa Efek IndonesiaListing of Shareholders Register (DPS) or stock administration services in the Secondary Market which are listed on the Indonesia Stock Exchange

Rp44.000.000,-

KustodianCustodian

PT Kustodian Sentral Efek Indonesia

Gedung Bursa Efek Indonesia,Tower I, Lantai 5Jl. Jendral Sudirman Kav. 52-53 Jakarta12190 - IndonesiaTelp. : +62 21 5299 1099Faks. : +62 21 5299 1199Situs Web : www.ksei.co.id

Jasa Kustodian Sentral Central Custodian Service Rp11.000.000

Pemeringkat EfekSecurities Rating

PT Pemeringkat Efek Indonesia (PEFINDO)

Panin Tower-Senayan City 17th FloorJl. Asia Afrika Lot.19Jakarta 10270, IndonesiaTel. (62-21) 727 82380Fax. (62-21) 727 82370www.Pefindo.com

Pemeringkatan Perusahaan periode Desember 2019Rating the company for December 2019 period

Rp125.000.000,-

Kantor Akuntan PublikPublic Accounting Firm

KAP Purwantono, Sungkoro & Surja (anggota firma Ernst & Young Global Limited)

Indonesia Stock Exchange Building, Tower II, 7th floorJl. Jend. Sudirman Kav.52-53Jakarta 12190, Indonesia.Telp. 021 - 5289 5000Fax. 021 - 5289 4100www.ey.com/ID/EN

Audit Laporan Keuangan Konsolidasian PT Elnusa Tbk dan Anak Perusahaan Tahun Buku 2019Audit of Consolidated Financial Statements of PT Elnusa Tbk and Subsidiaries for Fiscal Year 2019

Rp2.200.000.000,-

Konsultan HukumLaw Consultant

Tidak adaNone

Tidak adaNone

Tidak adaNone

Tidak adaNone

NotarisNotary

Tidak adaNone

Tidak adaNone

Tidak adaNone

Tidak adaNone

Informasi Perdagangan dan Pencatatan SahamTrading and Stock Listing Information :

Bursa Efek IndonesiaGedung Bursa Efek IndonesiaJl. Jend. Sudirman Kav. 52-53Jakarta 12190, IndonesiaTelepon: +62 21 515 0515Surel: [email protected] Web: www.idx.co.id


PENGHARGAAN DAN SERTIFIKASIAwards and Certificate

PENGHARGAAN DI TAHUN 2019 AWARDS IN 2019

Nama Penghargaan/AwardsPenghargaan atas kepatuhan Wajib Pajak dalam membayar dan melaporkan pajak selama tahun

2018Award for Taxpayer compliance in paying and

reporting taxes for the yearTanggal/Date

24 Januari 2019/January 24, 2019Diberikan oleh/Awarded by

Kantor Pelayanan Pajak Wajib Besar Pajak Tiga

Nama Penghargaan/AwardsExcellent Safety Performance 332,322 Man-Hours,

Tahun Buku 2018Excellent Safety Performance 332,322 Man-Hours,

Fiscal Year 2018Tanggal/Date

Februari 2019/Februry, 2019Diberikan oleh/Awarded by

Conoco Philips

Nama Penghargaan/AwardsPrestasi mendapatkan Kategori “Very Good” dalam penerapan Sistem Manajemen HSE Kontraktor pada

Tahun 2018 untuk Kegiatan Survei SeismikAchievement of "Very Good" Category in the

implementation of the HSE Contractor Management System in 2018 for seismic survey activities

Tanggal/Date4 Februari 2019/Februry 14, 2019

Diberikan oleh/Awarded byPT Pertamina EP

Nama Penghargaan/AwardsSpecial Recognition CIP Replication

Tanggal/Date20 Maret 2019/March 20, 2019

Diberikan oleh/Awarded byAPQ Award PT Pertamina (Persero)

Nama Penghargaan/AwardsCompletion SOCO Exploration (Vietnam) Ltd. Marine 2D

Seismic, Gravity & Magnetic Data Acquisition of 7,000 Line Kms Program April to May 2019 by MV ELSA REGENT, Conducted by a Professional Crew within The Timed ScheduleWithout LTI and

Excellent Data Quality di tahun 2019Tanggal/Date

Juni 2019/June, 2019Diberikan oleh/Awarded by

SOCO Exploration (Vietnam) Ltd

Nama Penghargaan/AwardsHSE Communications Forum 2019-The Most Camp

Accomodation, untuk periode tahun buku 2018HSE Communications Forum 2019-The Most Camp

Accommodation, for the 2018 fiscal year periodTanggal/Date

28 Februari 2019/Februry 28, 2019Diberikan oleh/Awarded by

Pertamina Hulu Mahakam (PHM)

Nama Penghargaan/AwardsPrestasi Mencapai Zero Accident pada Project Perforasi &

Pipe Recovery Area Jawa & KTI untuk tahun 2015-2019Achieving Zero Accident in the Java & KTI Perforation & Pipe

Recovery Project for 2015-2019Tanggal/Date

22 Maret/March 22, 2019Diberikan oleh/Awarded by

PT Pertamina EP

Nama Penghargaan/AwardsZero Accident Award

Tanggal/Date21 Februari 2019/Februry 21, 2019

Diberikan oleh/Awarded byPT Nusantara Regas

Nama Penghargaan/AwardsPlatinum & Gold Category CIP Award

Tanggal/Date20 Maret 2019/March 20, 2019

Diberikan oleh/Awarded byAPQ Award PT Pertamina (Persero)



Nama Penghargaan/AwardsPenghargaan atas kepatuhan Wajib Pajak dalam membayar dan

melaporkan pajak selama tahun 2018Medali Emas & Special Award dari Asosiasi Croatia &

Portugal dengan Inovasi "Boom Crane Smart Basket" diAjang 4th Istanbul International Inventions Fair (ISIF)

Gold Medal & Special Award from the Croatian & Portuguese Association with the "Boom Crane Smart Basket" Innovation at the 4th

Istanbul International Inventions Fair (ISIF)Tanggal/Date

22 September 2019/September 22, 2019Diberikan oleh/Awarded by

Kementerian Industri dan Teknologi Turki, di bawah naungan International Federation of Inventors' Association (IFIA)

Turkey's Ministry of Industry and Technology, under the auspices of the International Federation of Inventors' Association (IFIA)

Nama Penghargaan/AwardsPenghargaan CIP Kategori Platinum & Gold

Platinum & Gold Category CIP AwardTanggal/Date

22 November 2019/November 22, 2019Diberikan oleh/Awarded by

Forum Hulu 2019 PT Pertamina (Persero)

Nama Penghargaan/AwardsBest InnovationTanggal/Date



Nama Penghargaan/AwardsTop Digital Transformation Readiness 2019

Tanggal/Date27 November 2019November 27, 2019

Diberikan oleh/Awarded byIt Works

Top Digital Awards

Nama Penghargaan/AwardsTop Digital Implementation 2019 on Energy & Mining Sector

# Level Star 4Tanggal/Date

27 November 2019November 27, 2019


Top Digital Awards

Nama Penghargaan/AwardsSebagai penyedia Jasa Hydraulic Workover Unit (HWU) sehingga

dapat mendukung keberhasilan pekerjaan KURS Sumur Panas Bumi PT Pertamina Geothermal Energy di tahun 2019

As a provider of Hydraulic Workover Unit (HWU) Services so that it can support the work process of PT Pertamina Geothermal

Energy's KURS Geothermal Energy in 2019Tanggal/Date


Diberikan oleh/Awarded byPT Pertamina Geothermal Energy

Nama Penghargaan/AwardsBest PC ProveTanggal/Date



Nama Penghargaan/AwardsTop Digital Transformation Readiness 2019

Tanggal/Date27 November 2019November 27, 2019


Top Digital Awards


Nama Penghargaan/AwardsISO 9001 : 2015

Tanggal/Date12 Agustus 2018/August 12, 2018

Dikeluarkan oleh/Issued bySGS Indonesia

Masa Berlaku Hingga/Valid Until12 Agustus 2021/August 12, 2021

Nama Penghargaan/AwardsOHSAS 18001 : 2007

Tanggal/Date19 Juli 2018/July, 2018


Masa Berlaku Hingga/Valid Until12 Maret 2021/March 12, 2021


Tanggal/Date22 Agustus 2018/August 22, 2018


Masa Berlaku Hingga/Valid Until21 Agustus 2021/August 12, 2021


Tanggal/Date9 Januari 2018/January 9, 2018


Masa Berlaku Hingga/Valid Until8 Januari 2021/January 8, 2021

SERTIFIKASI YANG MASIH BERLAKU HINGGA TAHUN 2019 CERTIFICATE IN 2019



Peraturan OJK No. 8/POJK.04/2015 tentang Situs Web Emiten atau Perusahaan Publik mendorong transparansi informasi pada situs web dari emiten atau perusahaan publik di Indonesia. Perseroan berupaya untuk meningkatkan kehandalan dalam penyediaan informasi secara terintegrasi melalui situs Perseroan yakni www.elnusa.co.id. Perseroan senantiasa memberikan kemudahan kepada para pemegang saham dan pemangku kepentingan lainnya dalam mengakses informasi Perseroan secara akurat, tepat, dan transparan. Situs resmi Perseroan telah memenuhi informasi yang wajib di muat sesuai dengan Peraturan Otoritas Jasa Keuangan (POJK) No. 8/POJK.4/2015 tentang Situs Web Emiten atau Perusahaan Publik yang telah ditetapkan pada tanggal 25 Juni 2015, seperti:1. Informasi Umum Emiten atau Perusahaan Publik2. Informasi Bagi Pemodal atau Investor3. Informasi Tata Kelola Perusahaan4. Informasi Tanggung Jawab Sosial Perusahaan

Situs web Perseroan menjadi portal digital resmi korporasi yang dapat diakses secara terbuka, dengan tujuan memberikan informasi yang komprehensif tentang Perseroan kepada khalayak luas. Berikut disampaikan kesesuaian situs web Perseroan dengan kebutuhan informasi kepada publik, khususnya kepada pemegang saham, dan pemangku kepentingan.

UraianDescription

KetersediaanAvailability

KeteranganDescription

Struktur grup perusahaan dan informasi pemegang saham sampai dengan pemilik akhir individuCompany group structure and shareholder information up to individual final owners

vSudah tersedia pada situs web PerseroanAvailable on Company web

Isi Kode EtikCode of Ethics Content v

Sudah tersedia pada situs web PerseroanAvailable on Company web

Informasi Rapat Umum Pemegang Saham (RUPS) paling kurang meliputi bahan mata acara yang dibahas dalam RUPS, ringkasan risalah RUPS, dan informasi tanggal penting yaitu tanggal pengumuman RUPS, tanggal pemanggilan RUPS, tanggal RUPS, tanggal ringkasan risalah RUPS diumumkanInformation on General Meeting of Shareholders (GMS) at least include the agenda discussed in the GMS, summary of GMS minutes, and important date information, namely the date of the announcement of the GMS, the date of the GMS calls, the date of the GMS, the date of the summary of the minutes of the GMS announced

vSudah tersedia pada situs web PerseroanAvailable on Company web

Laporan keuangan tahunan (5 tahun terakhir)Annual Financial Statements (last 5 years) v


Profil Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Profiles v


Piagam/Charter Dewan Komisaris, Direksi, Komite-komite, dan Unit Audit InternalBoard of Commissioners, Board of Directors, Committees and Internal Audit Unit Charters v


v = tersedia pada situs web Perseroan/available on Company webx = belum tersedia pada situs web Perseroan/not available on Company web

OJK Regulation No. 8/POJK.04/2015 on Issuers ‘or Public Companies’ Websites encourage transparency of information on the websites of issuers or public companies in Indonesia. The Company strives to improve reliability in providing integrated information through the Company’s website, www.elnusa.co.id. The Company always makes it easy for shareholders and other stakeholders to access Company information accurately, precisely and transparently. The official website of the Company has complied with information that must be loaded in accordance with Financial Services Authority Regulation (POJK) No. 8/POJK.4/2015 on Issuer or Public Company Website which has been established on 25 June 2015, such as:

1. General Information of Issuers or Public Companies2. Information for Investors3. Corporate Governance Information4. Corporate Social Responsibility Information

The Company's website becomes the official digital portal of the corporation that can be accessed openly, with the aim of providing comprehensive information about the Company to a wide audience. The following is the compatibility of the Company's website with the information needed by the public, especially to shareholders and stakeholders.


PENDIDIKAN DAN/ATAU PELATIHAN DEWAN KOMISARIS, DIREKSI, KOMITE-KOMITE, SEKRETARIS

PERUSAHAAN, DAN UNIT AUDIT INTERNALEducation and/or Training of the Board of Commissioners, Directors,

Committees, Corporate Secretary, and Internal Audit Unit

Sebagai bagian dari implementasi Good Corporate Governance (GCG), Perseroan berupaya untuk memfasilitasi setiap organ Perseroan untuk mendapatkan program pengembangan dalam meningkatkan kapabilitas sesuai dengan kebutuhan dalam pelaksanaan tugas masing-masing. Berikut informasi tentang program peningkatan kompetensi untuk Dewan Komisaris, Direksi, Komite Audit, Komite Nominasi dan Remunerasi, Komite Manajemen Risiko, Sekretaris Perusahaan, serta Audit Internal, di sepanjang tahun 2019.

As part of the implementation of Good Corporate Governance (GCG), the Company strives to facilitate each of the Company's departments to obtain development programs to improve capabilities in accordance with the needs in carrying out their respective duties. The following information about the competency improvement program for the Board of Commissioners, Board of Directors, Audit Committee, Nomination and Remuneration Committee, Risk Management Committee, Corporate Secretary and Internal Audit, throughout 2019.



Nama dan JabatanName and Position

Jenis Pendidikan dan PelatihanEducation and Training Type

Materi Pendidikan dan PelatihanEducation and Training Subject

Tempat/TanggalDate/Place

PenyelenggaraOrganizer

Dewan KomisarisBoard of Commissioners

Narendra WidjajantoKomisaris UtamaPresident Commissioner

Training Accounting for Derivative and Hedging Activities

Jakarta25-26 Juni 2019June 25-26, 2019

Ikatan Akuntan Indonesia Institute of Indonesia Chartered Accountant

Anis BaridwanKomisaris IndependenIndependent Commissioner

Training Master Class: Audit CommitteeJakarta24-25 Juni 2019June 24-25, 2019

CRMS Indonesia

SertifikasiCertification

Pendidikan Profesi Lanjutan Wakil Manajer InvestasiAdvanced Professional Education for Vice Investment Manager

Jakarta, 12 Februari 2020February 12, 2020

Perkumpulan Wakil Manajer Investasi Indonesia Indonesian Investment Manager Deputy Association

Lusiaga Levi SusilaKomisaris IndependenIndependent Commissioner

Seminar Risk Beyond 2019: International Conference

Bali5-6 Desember 2019December 5-6, 2019

CRMS Indonesia

Antonius RatdomopurboKomisarisCommissioner



CRMS Indonesia


Elizar P Hasibuan


Training

Filosofi Hukum dalam Pencegahan Tindak Pidana Korupsi di Korporasi Legal Philosophy in Corruption Prevention in Corporations

Jakarta4 Oktober 2019October 4, 2019

PERTAMINA CORPORATE UNIVERSITY

Training Leader ForumJakarta20 Agustus 2019August 20, 2019


Seminar Business Forum and Workshop Elsa & Schlumberger

Bogor21 November 2019November 21, 2019

PT Elnusa Tbk

Arief Riyanto

Direktur Pengembangan Usaha Director of Business Development

Seminar

Filosofi Hukum dalam Pencegahan TindakPidana Korupsi di KorporasLegal Philosophy in Corruption Prevention in Corporations



Seminar Joint Convention HAGI-IAGI-IAFMI-IATMIYogyakarta25 November 2019November 25, 2019

HAGI-IAGI-IAFMI-IATMI

Training Leader ForumJakarta20 Agustus 2019August 20, 2019


Hery Setiawan

Direktur KeuanganDirector of Finance

Training BOSIET Jakarta24 Januari 2019January 24, 2019

Safety Training Solusindo

TrainingFilosofi Hukum dalam Pencegahan TindakPidana Korupsi di KorporasLegal Philosophy in Corruption Prevention in Corporations



Seminar

Workshop Annual Report dan Sustainability ReportAnnual Report and Sustainability Report Workshop

Jakarta15 November 2019November 15, 2019

PT Elnusa Tbk







R. M. Happy Paringhadi

Direktur SDM & UmumDirector of HR & General Affair

BOSIETJakarta10 Januari 2019January 10, 2019

Safety Training Solusindo

Root Cause Problem Solving (RCPS)Jakarta18 Januari 2019January 18, 2019

PT Elnusa Tbk

Filosofi Hukum dalam Pencegahan TindakPidana Korupsi di KorporasLegal Philosophy in Corruption Prevention in Corporations



Komite AuditAudit Committee

Anis BaridwanKetuaChief


CRMS Indonesia


Pendidikan Profesi Lanjutan Wakil Manajer InvestasiAdvanced Professional Education for Vice Investment Manager

Jakarta, 12 Februari 2020February 12, 2020

Perkumpulan Wakil Manajer Investasi Indonesia Indonesian Investment Manager Deputy Association

Reynold M. BatubaraAnggotaMember

Seminar Empowering Internal Auditors: Embracing the 4IR

Solo24-25 Juli 2019July 24-25, 2019

The Institute of Internal Auditors Indonesia

Training PSAK Series 7Jakarta1 November 2019November 1, 2019

PT Elnusa Tbk dan Ernst & Young IndonesiaPT Elnusa Tbk and Ernst & Young Indonesia

Sertifikasi Certification

Certification in Audit Committee Practices Review Course

Jakarta12-14 November 2019November 12-14, 2019


Eddy RachmadiAnggotaMember


CRMS Indonesia



Seminar

Forum Audit Migas Indonesia Summit 2019Indonesia Oil and Gas Audit Forum Summit2019

Bali, 7-8 November 2019November 7-8, 2019

FAMI-SKK Migas


Certification in Audit Committee Practices Review Course

Jakarta12-14 November 2019November 12-14, 2019









Komite Nominasi dan RemunerasiNomination & Remuneration Committee

Lusiaga Levi SusilaKetuaChief



CRMS Indonesia

Komite Manajemen RisikoRisk Management Committee

Antonius RatdomopurboKetuaChief



CRMS Indonesia

Lusiaga Levi SusilaAnggotaMember



CRMS Indonesia

Adil NusyirwanAnggotaMember



Training ERM Audit IntegrationBandung11-12 November 2019November 11-12, 2019

CRMS Indonesia

Serena Karlita FerdinandusAnggotaMember



Training ERM Audit IntegrationBandung11-12 November 2019November 11-12, 2019

CRMS Indonesia







Sekretaris PerusahaanCorporate Secretary

Ari Wijaya

Training SS: Lindungi Aset Anda Agar Lebih OptimalSS: Protecting Assets for Optimization

Jakarta11 Januari 2019January 11, 2019

PT Elnusa Tbk

Training Basic CoachingJakarta8 Januari 2019January 8, 2019

Coaching Indonesia

Training CommunicationJakarta13 Februari 2019February 13, 2019

John Robert Powers

Seminar Business Dev. & Strategic PlanningJakarta6 Februari 2019February 6, 2019

Smart Business Coaching Firm

Seminar Business Forum and Workshop Elsa & Schlumberger

Bogor21 November 2019November 21, 2019

PT Elnusa Tbk

Audit InternalInternal Audit

Ganang Soegiyarso

(Senior Auditor)

Training New Update For Internal Audit StandardJakarta30 Januari 2019January 30, 2019

Institute of Internal Auditors (IIA) Indonesia

Training

SS : Tantangan dan Peluang Internal Auditor dalam Menghadapi Revolusi 4.0 di Era DigitalSS: Internal Auditor's Challenges and Opportunities in Facing the 4.0 Revolution in the Digital Age

Batam1 Oktober 2019October 1, 2019

Forum Komunikasi Satuan Pengawasan Intern (FKSPI)

TrainingSS : Achieving Audit Effectiveness by Reading and Influencing People Using Body Language and Microexpression

Bayuwangi9 Oktober 2019 October 9, 2019

Forum Komunikasi Satuan Pengawasan Intern (FKSPI)

Training Perhitungan pajak penghasilan Income Tax Calculation

Jakarta14 November 2019November 14, 2019

PT Elnusa Tbk

Training

SS: Fungsi Procurement excellence center di lingkungan Internal Audit PT PertaminaSS: Procurement excellence center function within PT Pertamina's Internal Audit

Jakarta, 3 Oktober 2019October 3, 2019

Pertamina PusatPertamina Headquarter

Analisis DAN PEMBAHASAN MANAJEMENManagement Discussionand Analysis

Perseroan berhasil membukukan pendapatan sebesar Rp8,4 triliun. Jasa Distribusi dan Logistik Energi memberi kontribusi pendapatan sebesar Rp4,3 triliun atau 52%, dan Jasa Hulu Migas sebesar Rp3,8 triliun atau 45,9% dan sisanya berasal dari Jasa Pendukung.

The Company managed to book revenues of Rp8.4 t r i l l ion. Energy Dis t r ibut ion and Logis t ics Serv ices contr ibuted revenue of Rp4.3 t r i l l ion or 52%, and Upstream Oi l and Gas Serv ices amounted to Rp3.8 t r i l l ion or 45.9% and the rest came f rom Suppor t Serv ices.


analisis DAN PEMBAHASAN MANAJEMENManagement Discussion and Analysis

TINJAUAN PEREKONOMIAN DAN INDUSTRIEconomic and Industry Review

Analisis dan Pembahasan Manajemen ini disusun dalam rangka membantu pemegang saham dan pemangku kepentingan untuk mendapatkan gambaran yang lebih komprehensif dalam bentuk narasi mengenai kinerja bisnis dan keuangan Perseroan serta faktor-faktor lain yang mempengaruhi kinerja Perseroan sepanjang tahun 2019 maupun prospek usaha Perseroan pada masa yang akan datang.

PERTUMBUHAN EKONOMI Tahun 2019 perekonomian global menurun dibandingkan dengan tahun 2018 yaitu sebesar 3,0% (IMF, Januari 2020). Perekonomian China merupakan salah satu negara dengan perekonomian terbesar di dunia juga mengalami penurunan menjadi sebesar 6,1% di tahun 2019. Perlambatan ekonomi China diakibatkan oleh ketegangan perdagangan dan perlambatan aktivitas global serta pelemahan permintaan domestik. Perlambatan ekonomi yang dialami China memberi pengaruh terhadap ekonomi Indonesia yang dalam beberapa tahun terakhir bertumpu pada perekonomian China. Hal ini juga terlihat dari nilai investasi China di Indonesia yang menempati peringkat ketiga terbesar. Dengan perang dagang dunia yang masih belum jelas ke depan, maka pelemahan ekonomi China bisa berlanjut. Ini kemudian berpengaruh terhadap aktivitas perdagangan internasional, termasuk Indonesia.

Pertumbuhan Ekonomi Indonesia, Regional & DuniaEconomic Growth of Indonesia, Regional & the World

Indonesia Thailand ChinaMalaysia ASEAN 5Vietnam World

5,1%

4,5%

6,5%

4,9%5,8%

3,4%

2,9%

5,0%

4,4%

6,5%

4,8%

6,1%

3,0%3,0%

2020

2019

Sumber: IMF, Januari 2020

This Management Discussion and Analysis was compiled to help shareholders and stakeholders get a more comprehensive picture in the form of narrative on the business and financial performance of the Company, and on the factors that affected the Company's performance throughout 2019, as well as on the future business prospects of the Company.

ECONOMIC GROWTHIn 2019, the global economy experienced a slowdown as compared to 2018 at 3.0% (IMF, January 2020). China being the world’s largest economy also documented the decline in its economy to 6.1% in 2019. China's economic slowdown was caused by trade tensions and the slowing down of global activities and the weakening of domestic demand. The economic slowdown experienced by China has an impact on the Indonesian economy which in recent years has relied on China's economy. It greatly impacted Indonesia as China's investment is the third largest in Indonesia. With the world trade being still unclear, the weakening of China's economy could continue. This then will impact on international trade activities, including those in Indonesia.

Source: IMF, January 2020


RUPIAH EXCHANGE RATE AGAINST US DOLLARForeign exchange rate is very important for companies that use foreign currencies in their business activities and also involved in international trade because they can affect the costs and the international trade.

At the beginning of 2019, the rupiah exchange rate was strengthening and reached the highest rate of Rp13,901/USD at the end of December. While in May the rupiah reach the lowest rate at Rp14,513/USD. Compared to the rupiah exchange rate in 2018, the exchange rate in 2019 was lower, the reason was the US economy was getting better, thereby strengthening the value of the dollar. In addition, geopolitical risk factors, brexit ambiguity and other political factors also influenced the rupiah exchange rate.

Meanwhile, the domestic factors were triggered by an increase in foreign exchange demand by domestic corporations for import payment needs and pay the foreign debt. As of the end of December 2019, BI's benchmark interest rate was recorded at 5% and the Rupiah level depreciated to 6.9% and closed at Rp13,901/US dollar.

NILAI TUKAR RUPIAH TERHADAP DOLAR ASPerusahaan yang menggunakan mata uang asing dalam kegiatan bisnisnya dan terlibat dalam perdagangan internasional akan mempertimbangkan penentuan kurs valuta asing karena dapat berpengaruh pada biaya dan perdagangan internasional yang dilakukan.

Pada awal tahun 2019 terjadi penguatan nilai tukar rupiah hingga mencapai nilai tertinggi RP13.901/USD di akhir bulan Desember. Sedagkan nilai tukar terendah rupiah berada pada nilai RP14.513/USD pada bulan Mei. Jika dibandingkan dengan nilai tukar rupiah pada tahun 2018, nilai tukar pada tahun 2019 lebih rendah. Penyebabnya adalah ekonomi AS yang semakin membaik sehingga memperkuat nilai dolar. Selain itu, faktor risiko geopolitik, ketidakjelasan brexit dan politik lainnya juga memberikan pengaruh terhadap nilai tukar rupiah.

Sementara faktor dalam negeri dipicu oleh kenaikan permintaan valas oleh korporasi domestik untuk kebutuhan pembayaran impor dan hutang luar negeri. Hingga akhir Desember 2019, suku bunga acuan BI tercatat mencapai 5% dan ditutup pada level Rupiah tercatat terdepresiasi mencapai 6,9% dan ditutup pada level Rp13.901/dolar AS.

Nilai Tukar Rupiah terhadap USDRupiah Exchange Rate against USD

15.500,00

15.000,00

14.500,00

14.000,00

13.500,00

13.000,00

12.500,00

12.000,00

USD-IDR Exchange Rate

02-Ja

n-18

02-S

ep-1

8

02-M

ay-1

8

02-M

ar-1

8

02-N

ov-1

8

02-Ju

l-18

02-F

eb-1

8

02-O

ct-1

8

02-Ju

n-18

02-A

pr-1

8

02-D

ec-1

8

02-A

ug-1

8

02-Ja

n-19

02-S

ep-1

9

02-M

ay-1

9

02-M

ar-1

9

02-N

ov-1

9

02-Ju

l-19

02-F

eb-1

9

02-O

ct-1

9

02-Ju

n-19

02-A

pr-1

9

02-D

ec-1

9

02-A

ug-1

9

Sumber: BI Source: BI



INFLASISepanjang 2019 inflasi di Indonesia mencapai 2,72%, angka ini lebih rendah jika dibandingkan periode 2018 yang sebesar 3,13%. Inflasi tahun 2019 merupakan inflasi terendah sejak tahun 1998. Hal ini disebabkan oleh pasokan produksi yang memadai dengan permintaan pasar, koordinasi pemerintah dan BI dalam memenuhi ketersediaan bahan pangan, nilai tukar rupiah yang stabil, dan harga sejumlah komoditas yang terjangkau. Dengan demikian, inflasi aktual berada di bawah target Pemerintah sebesar 3,5%. Penyebab utama inflasi pada 2019 adalah kenaikan harga pada kelompok barang Bahan Makanan. Selain itu, dalam komponen energi, harga BBM yang berfluktuatif juga mempengaruhi inflasi.

Regulasi 1. Permen ESDM No. 7 Tahun 2019 tentang Pengelolaan

dan Pemanfaatan Data yang diperoleh dari Survei Umum, Eksplorasi dan Eksploitasi Minyak dan Gas Bumi sehingga dapat diakses secara online.

2. Permen ESDM No. 20 Tahun 2019 tentang Perubahan Kedua atas Permen ESDM No. 08 Tahun 2017 tentang Kontrak bagi Hasil Gross Split.

3. Permen ESDM No. 3 Tahun 2019 tentang Perubahan Kedua atas Peraturan Menteri ESDM No. 23 Tahun 2018 tentang Pengelolaan Wilayah Kerja Minyak dan Gas Bumi yang akan Berakhir Kontrak Kerjasamanya.

4. Permen ESDM No. 1 Tahun 2019 tentang Cara Pelaksanaan Hibah Barang Milik Negara di Lingkungan Kementerian Energi dan Sumber Daya Mineral yang dari sejak awal pengadaannya direncanakan untuk dihibahkan.

5. Permen ESDM No. 8 Tahun 2019 tentang Perubahan atas Permen ESDM No. 16 Tahun 2017 tentang Pedoman Umum Pelaksanaan Pemberian Bantuan Pemerintah di lingkungan Direktorat Jenderal Minyak dan Gas Bumi.

6. Permen ESDM No. 3 Tahun 2019 tentang Perubahan Kedua atas Permen ESDM No. 23 Tahun 2018 tentang Pengelolaan Wilayah Kerja Minyak dan Gas Bumi yang akan berakhir Kontrak kerja samanya.

7. Permen Keuangan No. 89/PMK.06/2019 tentang Pengelolaan Barang Milik Negara yang berasal dari pelaksanaan kontrak kerja sama kegiatan usaha hulu minyak dan gas bumi.

8. Kepmen ESDM No. 195 K/80/MEM/2019 tentang Perubahan atas Keputusan Menteri Energi dan Sumber Daya Mineral No. 1987 K/80/MEM/2018 tentang penetapan daerah penghasil dan dasar penghitungan dana bagi hasil sumber daya alam minyak dan gas bumi untuk tahun 2019.

9. Permen Keuangan No. 118/PMK.02/2019 tentang tata cara pembayaran domestic market obligation fee, over lifting kontraktor dan/atau under lifting kontraktor dalam kegiatan usaha hulu minyak dan gas bumi.

INFLATIONThroughout 2019 inflation in Indonesia reached 2.72%, this figure is lower than the 2018 period which was 3.13%. Inflation in 2019 has been the lowest since 1998. This is due to the adequate production supply with market demand, coordination between the government and BI in meeting the availability of food, a stable rupiah exchange rate, and the prices of a number of affordable commodities. Therefore, the actual inflation is below the Government's target of 3.5%. The main cause of inflation in 2019 was the rise in food prices and the fluctuating of fuel prices.

Regulation1. Minister of Energy and Mineral Resources Regulation

No. 7 of 2019 concerning Management and Utilization of Data obtained from the General Survey, Exploration and Exploitation of Oil and Gas so that it can be accessed online.

2. Minister of Energy and Mineral Resources Regulation No. 20 of 2019 concerning the Second Amendment to the Minister of Energy and Mineral Resources Regulation No. 08 of 2017 concerning Gross Split Production Sharing Contracts.

3. Minister of Energy and Mineral Resources Regulation No. 3 of 2019 concerning the Second Amendment to the Regulation of the Minister of Energy and Mineral Resources No. 23 of 2018 concerning Management of Oil and Gas Working Areas where the Cooperation Contract will expire.

4. Minister of Energy and Mineral Resources Regulation No. 1 of 2019 concerning How to Implement Grants of State Property in the Ministry of Energy and Mineral Resources which are planned to be granted since the beginning of their procurement.

5. Minister of Energy and Mineral Resources Regulation No. 8 of 2019 concerning Amendments to the Regulation of the Minister of Energy and Mineral Resources No. 16 of 2017 concerning General Guidelines for Implementing Government Assistance within the Directorate General of Oil and Gas.

6. Minister of Energy and Mineral Resources Regulation No. 3 of 2019 concerning the Second Amendment to the Regulation of the Minister of Energy and Mineral Resources No. 23 of 2018 concerning Management of Oil and Gas Working Areas where the Cooperation Contract will expire.

7. Minister of Finance Regulation No. 89/PMK.06/2019 concerning Management of state property originating from the implementation of cooperation contracts for upstream oil and gas business activities.

8. Decree of the Minister of Energy and Mineral Resources No. 195 K/80/MEM/2019 concerning Amendment to the Decree of the Minister of Energy and Mineral Resources No. 1987 K/80/MEM/2018 concerning the determination of producing regions and the basis for calculating the profit sharing funds for natural oil and gas resources for 2019.

9. Minister of Finance Regulation No. 118/PMK.02/2019 concerning procedures for payment of domestic market obligation fees, over lifting contractors and/or under lifting contractors in upstream oil and gas business activities.


WORLD OIL PRICESThroughout 2019 the average price of Brent oil was USD64.36/bbl, and the average WTI was USD56.98/bbl. The oil price of this year is lower compared to the previous year because of the global economic slowdown due to the ongoing trade war between the US and China. In addition, the decline in crude oil inventories in the United States (US), Venezuela, and Iran is causing the oil prices to experience the highest increase in April with a value of Brent USD71.23/bbl and WTI USD63.86/bbl. In April the price for Indonesian crude oil experience the highest price at USD68.31 per barrel.

Meanwhile the average price of ICP in Indonesia in 2019 was USD62.38 per barrel. In 2019 ICP prices increased from January and reach the highest price in April. Furthermore, ICP prices have declined because of the US and China trade war, the decline in the world economy and the decline in the growth of world oil demand.

The ICP price experienced an increase at the end of December and reach USD67.18 per barrel. The increase in ICP was influenced by the decline in production of the Organization of Petroleum Exporting Countries (OPEC), the increase in geopolitical tensions in the Middle East; and the increase of import quotas from Chinese Government for several refineries in China. Oil prices also rose due to the increasing need for crude oil in winter and the end of the year.

ENERGY INDUSTRY IN 2019The supply of primary energy is classified by its type and it's divided into several proportions. Based on the energy mix provided by ESDM, oil and gas are still the most needed sources of energy for the future, although the value of the oil mix will decrease to around 15% of the energy mix in 2050. Whereas the gas mix will remain around 24% of the total energy mix. EBT (New Renewable Energy) will be the focus of mix energy and it will increase to 32%.

HARGA MINYAK DUNIASelama tahun 2019 harga rata-rata minyak Brent adalah USD64,36/bbl, WTI secara rata-rata USD56,98/bbl. Harga minyak tahun ini lebih rendah dibandingkan dengan tahun sebelumnya. Hal ini disebabkan oleh perlambatan ekonomi global akibat berlangsungnya perang dagang antara AS dan China. Selain itu, persediaan minyak mentah Amerika Serikat (AS), Venezuela, dan Iran yang turun menyebabkan harga minyak sempat mengalami kenaikan tertinggi pada bulan April dengan nilai Brent USD71,23/bbl dan WTI USD63,86/bbl. Harga tertinggi untuk minyak mentah Indonesia tercapai di bulan April sebesar USD68,31 per barel. Sedangkan di Indonesia, rata-rata ICP pada tahun 2019 adalah USD62,38 per barel. Di tahun 2019 harga ICP mengalami peningkatan mulai dari bulan Januari hingga mencapai nilai tertinggi di bulan April. Selanjutnya, harga ICP mengalami penurunan selain diakibatkan oleh perang dagang AS dan China, hal ini juga diakibatkan penurunan perekonomian dunia dan penurunan pertumbuhan permintaan minyak dunia.

Harga ICP mengalami peningkatan kembali di akhir Desember hingga mencapai USD67,18 per barel. Kenaikan ICP itu dipengaruhi merosotnya produksi Organisasi Negara-Negara Pengekspor Minyak Bumi atau Organization of the Petroleum Exporting Countries (OPEC), peningkatan ketegangan geopolitik di Timur Tengah, dan penambahan kuota impor dari Pemerintah China untuk beberapa kilang di China. Harga minyak naik juga karena meningkatnya kebutuhan minyak mentah saat musim dingin dan akhir tahun.

Harga Minyak Mentah Dunia (EIA)World Crude Oil Prices (EIA)

90

80

70

60

50

40

USD

/bbl

Monthly WTI, Brent & ICP

Jan-

18

Sep-

18

May

-18

Mar

-18

Nov

-18

Jul-1

8

Feb-

18

Oct

-18

Jun-

18

Apr-1

8

Dec-

18

Aug-

18

Jan-

19

Sep-

19

May

-19

Mar

-19

Nov

-19

Jul-1

9

Feb-

19

Oct

-19

Jun-

19

Apr-1

9

Dec-

19

Aug-

19

WTI Brent ICP

Sumber: EIA. Energy Outlook. ESDM Source: EIA. Energy Outlook. ESDM

INDUSTRI ENERGI 2019Penyediaan energi primer sudah diklasifikasikan berdasarkan jenisnya dan dibagi ke proporsi masing-masing. Berdasarkan bauran energi yang diberikan oleh ESDM, minyak dan gas masih menjadi sumber energi yang akan dibutuhkan ke depan, walaupun nilainya bauran minyak akan mengalami penurunan menjadi sekitar 15% dalam bauran energi di tahun 2050. Sedangkan untuk bauran gas akan tetap sekitar 24% dalam total bauran energi. EBT (Energi Baru Terbarukan) akan menjadi fokus peningkatan mencapai 32% dalam bauran.



The realization of oil and gas production in 2019 reached 90.5% of the target set by the state budget. Oil production produced in 2019 was 746,000 barrels per day or around 96.3% of the 2019 APBN target. Whereas the realization of gas production in 2019 was 1,053,475 BOEPD or 84.5% of the APBN target. This is due to the low price of world oil and gas, and also the leakage that occurred in several regions and forest fires.

INDONESIAN UPSTREAM OIL AND GAS INVESTMENTIndonesia's upstream oil and gas investment in 2019 has increased to USD11.49 Billion, it's bigger compare to the investment in 2018 which was USD11 Billion. Compared to 2018, the increased investment were Development by 18% which was equal to USD1.59 Billion, Production by 3% which was equal to USD8.37 Billion, and Adm by 2% which was equal to USD0.91 Billion. This investment has an impact on the increased production activities including 2D seismic activities which increased sharply to 1,039%. While other activities that also experienced an increase were development wells drilling (61%) and workover (6%). Activities that experienced a decline were exploration drilling and well service.

Bauran Energi Primer Skenario PBPrimary Energy Combine PB Scenario

32%Batubara

Coal

24%Gas

21%Minyak

Oil

23%EBT

29%Batubara

Coal

24%Gas

15%Minyak

Oil32%EBT

2025 2050Sumber: DEN, 2019 Source: DEN, 2019

Realisasi produksi migas tahun 2019 mencapai 90,5% dari target yang ditentukan oleh APBN. Produksi minyak yang dihasilkan pada tahun 2019 sebanyak 746.000 barel per hari atau sekitar 96,3% dari target APBN 2019. Sedangkan untuk realisasi produksi gas sepanjang 2019 sebesar 1.053.475 BOEPD atau 84,5% dari target APBN. Penyebabnya di antaranya harga migas dunia yang rendah, kasus kebocoran yang terjadi di beberapa wilayah dan kebakaran hutan.

801.000 772.000 746.000

1.354.0781.379.667

1.054.475

2017 2018 2019

Gas BOEPD BOEPD Gas

Minyak BOPDBOPD Oil

Produksi MigasGas & Oil Production

Sumber: SKK Migas Source: SKK Migas

INVESTASI HULU MIGAS INDONESIAInvestasi hulu migas Indonesia tahun 2019 mengalami peningkatan menjadi USD11,49 Miliar, lebih besar dari investasi tahun 2018 USD11 Miliar. Jika dibandingkan dengan tahun 2018, investasi yang meningkat adalah Development sebesar 18% menjadi USD1,59 Miliar, Production sebesar 3% menjadi USD8,37 Miliar, dan Adm sebesar 2% menjadi USD0,91 Miliar. Investasi ini berimbas pada aktivitas produksi yang meningkat meliputi aktivitas seismic 2D yang meningkat tajam hingga 1.039%. Sedangkan aktivitas lain yang juga mengalami peningkatan yaitu development wells drilling (61%) dan workover (6%). Aktivitas yang mengalami penurunan yaitu pemboran eksplorasi dan well service.


GROWTH IN FUEL CONSUMPTIONFuel consumption growth is triggered by, among others, the level of motor vehicle sales that continues to grow even though the annual figures show the the number go up and down. Based on the retail sales data, car sales growth in Indonesia tend to increase in the last 5 years with an increase in CAGR of 0.26%, even if compared with the previous year, car purchases in 2019 were lower by around 9.5%. That is because the four-wheel industry was experiencing a slowdown in sales of around 12% until the beginning of the second semester, compared to the previous year. One of the reasons for the decline in car sales is the declining in economic growth.

As for motorcycle, the CAGR growth of motorcycle purchases has increased by 1.38% over the past 5 (five) years. This was because of the increase in sales of around 7.2% in 2019 compared to 2018. Another cause of motorcycle sales growth were the development of an online transportation business that utilizes motorcycle and the competitive prices of motorcycles in Indonesia.

Realisasi Survei Seismik, Pengeboran, dan Oilfield ServicesRealization of Seismic Survey, Drilling, and Oilfield Services

Ukuran DetailDetail Size 2017 2018 2019

Seismic 2D km 4.353 1.068 12.169 Seismic 2DSeismic 3D sq km 5.282 5.282 6.837 Seismic 3D

Pemboran Eksplorasi sumurwell 38 38 36 Exploration Drilling

Development Wells Drilling sumurwell 200 200 322 Development Wells Drilling

Workover aktivitas activity 760 760 806 Workover

Well Service aktivitas activity 62.328 76.485 29.405 Well Service

Production

2017 2018 2019Exploration

Development

Adm

Realisasi Investasi Hulu (Miliar US$)Realization of Upstream Investment (Billion US$)

0,57 0,62 0,620,61 1,35 1,59

8,138,14 8,37

0,95

10,2711,00

11,49

0,89

0,91

Sumber: SKK Migas Source: SKK MigasPertumbuhan Konsumsi BBM Fuel Consumption Growth

PERTUMBUHAN KONSUMSI BBMPertumbuhan konsumsi BBM salah satunya mengacu pada tingkat penjualan kendaran bermotor yang terus tumbuh walaupun secara angka pertahun menunjukan angka yang naik turun. Berdasarkan data penjualan retail, pertumbuhan penjualan mobil di Indonesia dalam 5 tahun terakhir cenderung meningkat dengan peningkatan CAGR sebesar 0,26%, walaupun jika dibandingkan dengan tahun sebelumnya, pembelian mobil tahun 2019 lebih rendah sekitar 9,5%. Hal tersebut dilakukan karena industri roda empat memang sedang mengalami perlambatan penjualan sekitar 12% hingga awal semester kedua jika dibandingkan tahun sebelumnya. Pertumbuhan ekonomi yang sedang menurun menjadi salah satu penyebab penurunan penjualan mobil.

Sedangkan untuk kendaraan motor, pertumbuhan angka pembelian motor selama 5 (lima) tahun terakhir mengalami peningkatan CAGR 1,38%. Hal ini juga terlihat dari peningkatan penjualan pada tahun 2019 sekitar 7,2% dibandingkan dengan tahun 2018. Perkembangan bisnis transportasi online yang memanfaatkan sepeda motor sebagai modal usaha juga diduga memberi dorongan pada penjualan sepeda motor. Selain itu, harga motor di Indonesia yang kompetitif juga menjadi penyebab kenaikan jumlah penjualan.



Berhubungan dengan penggunaan BBM, konsumsi BBM mengalami kenaikan untuk Pertaseries sekiat 10% dan Dexseries sekitar 15,8% pada akhir tahun 2019 saat natal dan tahun baru. Selama tahun 2019, terjadi peningkatan produk BBM non subsidi jenis Pertalite sebesar 55%. Namun, perkembangan mobil listrik ke depannya dapat menyebabkan penurunan konsumsi BBM. Berdasarkan Outlook Energi Indonesia 2018 oleh BPPT, total penghematan BBM pada 2025 hingga 2050 untuk bensin sebanyak 3,8 juta kl dan untuk solar sebanyak 0,3 juta kl.

Penjualan Kendaraan Bermotor IndonesiaIndonesian Motor Vehicle Sales

CAGR: 1,38%

6.480.155

6.847.460

MotorMotorcycle

2015

2016

2018

2017

2019

5.931.285

5.886.103

6.383.108

CAGR: 0,26%

1.031.842

1.043.017

MobilCar

2015

2016

2018

2017

2019

1.073.547

1.067.397

1.152.642

Sumber: Gaikindo, AISI Source: Gaikindo, AISI

In terms of fuel usage, the fuel consumption of Pertaseries has increased of around 10% and Dexseries around 15.8% at the end of 2019 at Christmas and New Year. Throughout 2019, there was an increase in Pertalite non-subsidized fuel products by 55%. However, the development of electric cars in the future can cause a decrease in fuel consumption. Based on the 2018 Indonesia Energy Outlook by BPPT, the total fuel savings in 2025 to 2050 for gasoline is 3.8 million kl and for diesel is 0.3 million kl.


RENCANA STRATEGIS 20192019 Strategic Plan

Kenaikan harga minyak mentah ini ternyata tidak serta merta ikut menaikkan harga jual jasa migas yang telah mengalami penurunan hingga 40% yang menjadi tantangan besar bagi Perseroan untuk tetap tumbuh dan mempertahankan profitabilitasnya. Dampak dari penurunan harga minyak yang pada awal tahun 2016 masih membawa dampak penurunan pasar jasa migas yang besar hingga tahun 2018 yang ditandai dengan penurunan tajam pada realisasi investasi hulu migas yang diperkirakan sampai dengan September 2018 hanya mencapai 56,0% dari target keseluruhan.

Disisi lain Jasa Distribusi dan Logistik Energi walau mengalami peningkatan yang signifikan, terkait dengan pertumbuhan konsumsi BBM khususnya Indonesia. Peningkatan penjualan kendaraan bermotor setiap tahunnya dan kebutuhan BBM Industri telah mendongkrak penjualan BBM dan jasa terkait seperti jasa transportasi migas, pengelolaan depo, penjualan BBM Inmar dan lainnya. Namun disisi lain Perseroan dihadapkan pada kebijakan Pertamina yang melakukan pengetatan anggaran sehingga melakukan pemotongan tarif jasa fleet management hingga 7% sehingga menurunkan profitabilitas anak perusahaan dalam hal ini EPN.

Selain itu pelemahan kurs nilai tukar dan kenaikan interest rate pinjaman juga turut memberi dampak yang signifikan pada kinerja Perseroan. Untuk menghadapi ketidakpastian kondisi eksternal yang berpotensi menimbulkan ancaman. Menghadapi tantangan, adapun rencana strategis Perseroan yang dilakukan di tahun 2019, mencakup:

Kondisi/TantanganConditions/Challenges

Program/Rencana StrategisProgram/Strategic Plan

Pengelolaan Arus Kas

Cash Flow Management

1. Evaluasi Structure Pinjaman Perseroan.2. Perbaikan Perputaran Kas Operasi melalui Program Percepatan Collection.1. Evaluation of the Company's Loan Structure.2. Improvement of Operating Cash Flow through the Collection Acceleration Program.

Pencapaian Profitability & Mempertahankan Kinerja HSE

Achieving Profitability & Maintaining HSE Performance

1. Discipline Project Management.2. Implementasi Enteprise Risk Management.3. Sinergi Anak Perusahaan (Elnusa Group).4. Integrasi Standar HSE.1. Discipline Project Management.2. Implementation of Enterprise Risk Management.3. Synergy of Subsidiaries (Elnusa Group).4. Integration of HSE Standards.

Utilisasi dan Optimalisasi AlatUtilization and Tool Optimization

Asset Integrated Data Management dengan Implementasi ISO 55001.Asset Integrated Data Management with ISO 55001 Implementation.

Kapabilitas SDM

HR Capabilities

1. Program Penguatan Kapabilitas SDM.2. Pengembangan Multi Skill People.1. Program to Strengthen HR Capabilities.2. Development of Multi-Skill People.

The increase in crude oil prices apparently did not necessarily contribute to raising the selling price of oil and gas services which has decreased by 40% and became a challenge for the Company to continue to grow and maintain profitability. The impact of the decline in oil prices which at the beginning of 2016 still had a large downward impact on the oil and gas service market until 2018 marked by a sharp decline in the realization of upstream oil and gas investment, which is estimated to reach only 56.0% of the overall target.

On the other hand the Energy Distribution and the Logistics Services mark a significant increase and this led the growth of fuel consumption, especially Indonesia. Increased sales of motor vehicles each year and the need for industrial fuels have boosted sales of fuel and related services such as oil and gas transportation services, depot management, sales of Inmar fuel and others. But on the other hand the Company is faced with Pertamina's policy of tightening the budget so as to cut fleet management service tariffs by up to 7% thereby reducing the profitability of the subsidiary in this case EPN.

In addition, the weakening of the exchange rate and the increase in loan interest rates also had a significant impact on the Company's performance. To deal with uncertain external conditions that have the potential to pose a threat, face challenges, the Company's strategic plans for 2019 include:



TINJAUAN OPERASI PER SEGMEN USAHAOperating Overview per Business Segment

Perseroan terus berupaya untuk mengoptimalkan setiap segmen operasi dalam mendorong kinerja Perseroan untuk meningkatkan nilai bagi para Pemegang Saham dan pemangku kepentingan lainnya. Berdasarkan Pernyataan Standar Akuntansi Keuangan (PSAK) 5 (Revisi 2009) tentang “Segmen Operasi”, segmen usaha Perseroan dikelompokkan menurut kegiatan usaha yaitu, Jasa Hulu Migas, Jasa Distribusi & Logistik Energi, serta Jasa Penunjang Migas.

ANALISIS SEGMEN USAHA BERDASARKAN PRODUK DAN JASA YANG DIHASILKANBerdasarkan produk dan jasa yang dihasilkan, Perseroan mengembangkan produk dan jasa melalui 3 (tiga) segmen usaha, yang juga dijalankan oleh kelompok usaha Perseroan, yaitu Jasa Hulu Migas, Jasa Distribusi & Logistik Energi, serta Jasa Penunjang Migas. Berikut sekilas penjelasan operasi masing-masing segmen dalam pelaporan segmen.

1. Jasa Hulu Migas TerintegrasiJasa hulu migas terintegrasi menyediakan jasa pengukuran data geofisika/seismik, jasa pemboran migas dan jasa oilfield.

2. Jasa Distribusi & Logistik EnergiJasa distribusi dan logistik energi menyediakan jasa penyimpanan, perdagangan, pendistribusian dan pemasaran produk minyak dan gas di Indonesia.

3. Jasa Penunjang MigasJasa penunjang migas menyediakan jasa penguliran, perdagangan pipa OCGT (Open Cycle Gas Turbine) dan fabrikasi, pembuatan ulir (threading) untuk pemboran migas, jasa pengelolaan data dan informasi energi dan sumber daya mineral (khususnya eksplorasi dan eksploitasi minyak dan gas bumi), jasa pengelolaan data migas, jasa pembangunan sistem teknologi informasi terpadu, jasa telekomunikasi, jasa penyediaan jaringan, telekomunikasi satelit dan sistem komunikasi VSAT (Very-Small-Aperture Terminal).

Sekilas tentang profitabilitas dan kontribusi segmen operasi terhadap kinerja keuangan Perusahaan dapat dilihat pada tabel-tabel di bawah ini:

The Company continuously strives to optimize each operating segment in boosting the Company's performance to increase its value for Shareholders and other stakeholders. Based on the Statement of Financial Accounting Standards (PSAK) 5 (Revised 2009) concerning "Operating Segments", the Company's business segments are grouped according to business activities namely, Upstream Oil and Gas Services, Energy Logistics & Distribution Services, and Oil and Gas Support Services.

ANALYSIS OF BUSINESS SEGMENTS BASED ON PRODUCTS AND SERVICES PRODUCEDBased on the products and services produced, the Company develops products and services through 3 (three) business segments, which are also run by the Company's business groups, namely Upstream Oil and Gas Services, Energy Logistics & Distribution Services, and Oil and Gas Support Services. The following is a brief description of the operation of each segment in segment reporting.

1. Integrated Upstream Oil and Gas ServicesIntegrated upstream oil and gas services provide geophysical/seismic data services, oil and gas drilling services and oilfield services.

2. Energy Distribution and Logistic ServiceEnergy distribution and logistic service provide storage services, trading, distribution and marketing of oil and gas products in Indonesia.

3. Oil and Gas Support ServicesOil and gas support services provide threading services, OCGT (Open Cycle Gas Turbine) pipe trading and manufacturing, threading for oil and gas drilling, data and information on energy and mineral resources management services (particularly oil and gas exploration and exploitation), oil and gas data management service, integrated information technology development services, telecomunication services, network service provider, satellite communications and Very-Small-Aperture Terminal-based communication systems.

An overview of the profitability and contribution of operating segments to the Company's financial performance can be seen in the tables below:


Jumlah dan Kontribusi Segmen Operasi terhadap PendapatanTotal and Contribution of Operating Segments to Revenue

Segmen OperasiOperating Segments

2019 2018 Kenaikan (Penurunan)Increase (Decrease)

Jumlah(Rp-juta | million)

Total

Kontribusi(%)

Contribution


Total

Kontribusi(%)

Contirbution

Selisih(Rp-juta | million)

Difference

Persentase(%)

Percentage

Jasa Distribusi dan Logistik EnergiEnergy Distribution and Logistic Service 4.364.089 49,2 3.892.296 55,8 471.793 12

Jasa Hulu Migas TerintegrasiIntegrated Upstream Oil and Gas Services 3.847.015 45,8 2.653.918 40,0 1.193.097 45

Jasa Penunjang MigasOil and Gas Support Services 988.663 5,0 698.503 4,2 290.160 42

Rekonsiliasi Reconciliation (814.645) (619.943) (194.702) 31

Jumlah PendapatanTotal Revenue 8.385.122 100,00 6.624.774 100,00 1.760.348 26,57

Kontribusi terhadap PendapatanContribution to Revenue

Jasa Hulu Migas TerintergrasiIntegrated Upstream Oil and Gas Services

Jasa Distribusi dan Logistik EnergiEnergy Logistics and Distribution Services

Jasa Penunjang MigasOil and Gas Support Services and Gas Services

40,0% 45,8%

55,8% 49,2%

4,2% 5,0%

2018 2019

Jumlah dan Kontribusi Segmen Operasi terhadap Beban Pokok PendapatanTotal and Contribution of Operating Segments to Cost of Revenue




Total

Kontribusi(%)

Contribution


Total

Kontribusi(%)

Contirbution


Difference

Persentase(%)

Percentage

Jasa Distribusi dan Logistik EnergiEnergy Distribution and Logistic Service

3.909.600 51,9 3.508.346 59,0 401.254 11

Jasa Hulu Migas TerintegrasiIntegrated Upstream Oil and Gas Services

3.578.480 40,3 2.500.157 32,6 1.078.323 43


RekonsiliasiReconciliation (794.437) - (613.403) - (181.034) 30

Jumlah Beban Pokok PendapatanTotal Cost of Revenue (7.514.040) 100,00 5.972.680 100,00 1.541.360 25,81



Kontribusi terhadap Beban Pokok PendapatanContribution to Cost of Revenue




32,6% 40,3%59,0% 51,9%

8,4% 7,8%

2018 2019

Jumlah dan Kontribusi Segmen Operasi terhadap Laba Tahun BerjalanTotal and Contribution of Operating Segments to Current Year Profit




Total

Kontribusi(%)

Contribution


Total

Kontribusi(%)

Contirbution


Difference

Persentase(%)

Percentage


271.340 27,6 235.722 87,0 35.618 15


4.309 1,2 (23.887) (8,8) 28.196 (118)


RekonsiliasiReconciliation (11.285) - 5.274 - (16.559) (314)

Jumlah Laba Tahun BerjalanTotal Revenue 356.477 100,00 276.316 100,00 80.161 29,01

Kontribusi terhadap Laba Tahun BerjalanContribution to Current Year Profit




(8,8)%

1,2%

87,0 27,6%

21,8%

22,7%

2018 2019


Jumlah dan Kontribusi Segmen Operasi terhadap AsetTotal and Contribution of Operating Segments to Assets




Total

Kontribusi(%)

Contribution


Total

Kontribusi(%)

Contirbution


Difference

Persentase(%)

Percentage


1.974.247 27,6 1.378.949 22,7 595.298 43


4.606.703 67,6 4.127.301 72,8 479.402 12

Jasa Penunjang MigasOil and Gas Support Services 1.086.423 4,8 884.244 4,4 202.179 23

RekonsiliasiReconciliation (862.336) - (733.167) - (129.169) 18

Jumlah AsetTotal Revenue 6.805.037 100,00 5.657.327 100,00 1.147.710 20,29

Kontribusi terhadap AsetContributions to Assets




2018 2019

4,4%4,8%

72,8%67,6%

22,7%27,6%

Jumlah dan Kontribusi Segmen Operasi terhadap LiabilitasTotal and Contribution of Operating Segments to Liabilities




Total

Kontribusi(%)

Contribution


Total

Kontribusi(%)

Contirbution


Difference

Persentase(%)

Percentage


1.107.918 34,2 715.780 30,2 392.138 55


2.092.940 58,4 1.660.843 63,6 432.097 26


RekonsiliasiReconcilliation (288.688) - (191.763) - (96.925) 51

Jumlah LiabilitasTotal Revenue 3.228.339 100,00 2.357.127 100,00 871.212 36,96



ENERGY DISTRIBUTION AND LOGISTIC SERVICES BUSINESS

Energy Distribution and Logistic Services Segment OperationsTo support the Company main business in the field of upstream oil and gas services, the Company runs a downstream oil and gas service business carried out by a subsidiary through PT Elnusa Perofin (EPN). In carrying out oil and gas downstream service business activities, the Company focuses on operating activities in the form of:1. Management of fuel oil (BBM) transportation from Pertamina

BBM terminals to public fuel filling stations (SPBU) and diesel oil premium agents (APMS) and bunker fuel filling stations (SPBB).

2. Management of privately owned BBM Depot, starting from the adminsitration of BBM purchases, transportation of BBM, fuel storage and fuel distribution at the customer location.

3. Management of self-owned LPG Depot (Amurang).4. Economic (non-subsidized) BBM sales to Industry & Marine.

5. Sales of specialty chemicals and commodity chemicals for the oil and gas industry.

6. Sales of Pertamina lubricants to private customers.7. Managing the operation of self-owned and private owned

gas station and SPBE using the profit sharing method, which sells BBM and BBK products and filling in subsidized LPG products produced by Pertamina.

Kontribusi terhadap LiabilitasContribution to Liabilities




2018 2019

6,21%7,4%

63,6%58,4%

30,2%34,2%

SEGMEN JASA DISTRIBUSI DAN LOGISTIK ENERGI

Kegiatan Operasi Segmen Jasa Distribusi dan Logistik EnergiUntuk mendukung bisnis utama Perseroan di bidang jasa hulu Migas, Perseroan menjalankan usaha jasa hilir migas yang dilakukan oleh anak perusahaan melalui PT Elnusa Petrofin (EPN). Dalam menjalankan kegiatan usaha jasa hilir migas, Perseroan berfokus pada kegiatan operasi berupa:1. Pengelolaan angkutan Bahan Bakar Minyak (BBM) dari

Terminal BBM Pertamina ke Stasiun Pengisian Bahan Bakar Umum (SPBU) dan Agen Premium Minyak Solar (APMS) serta Stasiun Pengisian Bahan Bakar Bunker (SPBB).

2. Pengelolaan Depo BBM milik swasta, mulai dari kegiatan administrasi pembelian BBM, pengangkutan BBM, penyimpanan BBM dan penyaluran BBM di lokasi pelanggan.

3. Pengelolaan Depo LPG milik sendiri (Amurang).4. Penjualan BBM keekonomian (non subsidi) kepada pelanggan

Industri & Marine.5. Penjualan specialty chemical dan commodity chemical untuk

industri migas.6. Penjualan pelumas Pertamina kepada pelanggan swasta.7. Pengelolaan operasional SPBU dan SPBE milik sendiri dan

milik swasta dengan metode profit sharing, yang menjual produk BBM dan BBK serta pengisian produk LPG bersubsidi produksi Pertamina.


Proses Kegiatan usaha jasa hilir migas dapat digambarkan sebagai berikut:

Kilang MinyakOil Refinery

Transportasi IndustriIndustrial Transportation

Industri & PengapalanIndustrial & Shipping

Transportasi Mobil TangkiTank Car Transportation

Pangkalan Mobil TangkiTank Car Base

KonsumenConsumer

Mobil PribadiPrivate car

Kendaraan UmumPublic Transportation

Transportasi Premium & SolarPremium and Solar

Transportation

SPBUSPBU

ImporImport

DepotDepot

Proses Kegiatan perdagangan bahan kimia khusus digambarkan sebagai berikut:

Bahan Baku KimiaRaw Material Chemical

PabrikBlendingPlant

Produk KimiaChemical Product

Konsumen• Perusahaan Migas• Perusahaan Kilang MinyakConsumer• Oil and Gas Company• Oil Refinery Company

EPN melakukan kegiatan perdagangan dan jasa Chemical yang terdiri dari Commodity/Mud Chemical serta Specialty Chemical. Dalam menjalankan aktivitas operasinya, EPN juga melakukan kolaborasi (Partnership) dengan beberapa Perusahaan antara lain SNF Perancis untuk produk EOR (Enhanced Oil Recovery) dan sebagai sole distributor Baker Hughes untuk bahan kimia khusus keperluan industri migas. Sejak tahun 2018 EPN telah dipercaya sebagai kontraktor jasa dalam penerapan EOR pertama di Pertamina dengan pilot project di Pertamina Asset V Tanjung (Tanjung Polymer Field Trial/TPFT).

The process of oil and gas downstream services can be described as follows:

The process of trading special chemicals is described as follows:

EPN conducts trading activities and Chemical services which consist of Commodity/Mud Chemical and Specialty Chemicals. In carrying out its operations, EPN also collaborates (Partnership) with several companies including SNF France for EOR (Enhanced Oil Recovery) products and as the sole distributor of Baker Hughes for special chemicals for the oil and gas industry. Since 2018 Pertamina has trusted EPN as its service contractor in implementing the first EOR with a pilot project in Pertamina Asset V Tanjung (Tanjung Polymer Field Trial/TPFT).



As a continuously growing country, Indonesia requires energy, especially fuel which is increasing from time to time. As the downstream oil and gas business still can survive and it is quite promising amid the downturn in the oil and gas business in general. PT Elnusa Petrofin (EPN)'s performance in the downstream oil and gas business has shown very good results.

In 2019 EPN expanded its business, among others by taking over the management of the Pressurized Liquified Petroleum Gas (LPG) Depot in Amurang, South Minahasa. Besides several other asset based project developments that were carried out in 2019 such as Jobber Tanjung Pandan - Belitung, the construction of the Bima and Nias SPPBE (LPG Bulk Filling & Transport Station), the development of the Lampung DPPU Modular tank and the construction of the Antam Depot - East Halmahera.

PT Elnusa Petrofin (EPN) revenue in December 2019 was Rp4.36 trillion or grew 12% from last year. This achievement is in line with the increase in the volume of the existing business group and some other projects throughout 2019.

The contribution of each business unit to EPN's operating revenues are as follows:

Sebagai sebuah negara yang terus bertumbuh, Indonesia memiliki kebutuhan energi, khususnya BBM yang kian meningkat dari waktu ke waktu. Seperti halnya bisnis hilir migas yang masih dapat bertahan dan cukup menjanjikan ditengah kelesuan bisnis migas pada umumnya. Kinerja PT Elnusa Petrofin (EPN) yang bergerak di bisnis hilir migas menunjukkan hasil yang sangat baik.

Di tahun 2019 EPN melakukan ekspansi bisnis antara lain dengan mengambil alih kelola Depot Liquified Petroleum Gas (LPG) Pressurized di Amurang, Minahasa Selatan. Disamping beberapa pengembangan project asset based lain yang terlaksana di tahun 2019 seperti Jobber Tanjung Pandan – Belitung, pembangunan SPPBE (Stasiun Pengangkutan & Pengisian Bulk LPG) Bima dan Nias, pembangunan Modular tank DPPU Lampung dan pembangunan Depo Antam – Halmahera Timur.

Revenue PT Elnusa Petrofin (EPN) Ytd Desember 2019 sebesar Rp4,36 triliun atau tumbuh 12% dari tahun lalu. pencapaian tersebut seiring dengan peningkatan volume throughput bisnis existing dan penambahan project di sepanjang tahun 2019.

Adapun kontribusi setiap unit bisnis terhadap pendapatan usaha EPN masing-masing adalah sebagai berikut:

TransportasiTransportation

BBMI

FUEL RETAIL

CHEMICAL

LUBRICANT

DEPO

2018

48,3%

9,1%

36,7%

3,9%

Rp3,89T

2019

45,7%

9,4%

38,8%

4,5%1,2%

0,4%

Rp4,36T

1,4%0,5%


Kapasitas Usaha EPNEPN Business Capacity

Unit BisnisBusiness unit

Produksi/KapasitasProduction/Capacity

2019 2018Kelola mobil tangki BBM PSO dengan Pola All in PlusBBM PSO mobile tank vehicle management with Pola All in Plus

1.584 Unit1,584 Units

1.569 Unit1,569 Units

Kelola angkutan BBMK sistem tarif (Rp/KL/KM)BBMK vehicle management with a tariff system

40 Unit40 Units

40 Unit40 Units

Menyewakan mobil tangki milik sendiri ke Pertamina (sewa mobil tangki)Renting self-owned mobile tank vehicles to Pertamina

1. 425 unit mobil tangki BBM2. 10 unit mobil tangki LPG3. 4 unit MT Avtur

1. 425 units of fuel tank vehicles2. 10 units of LPG tank vehicles3. 4 MT Avtur units

363 unit mobil tangki BBM363 units of fuel tank vehicles

10 unit mobil tangki LPG10 units of LPG tank vehicles

Distribusi BBM subsidi ke APMSDistribution of subsidized fuel to APMS

1. Jumlah transportir: 1052. Jumlah APMS: 154

1. Total of transporters: 1052. Total of APMS: 154

Jumlah transportir: 105Jumlah APMS: 184

Total of transporters: 105Total of APMS: 184

Pengelolaan angkutan SPBBSPBB vehicle management

Jumlah transportir: 18Total of transporters: 18

Jumlah transportir: 18Total of transporters: 18

Jumlah APMS: 18Total of APMS: 18

Jumlah APMS: 15Total of APMS: 15

Kelola angkutan Industri Pama Persada Industrial transportation management for Pama Persada

8 Unit8 Units

8 Unit8 Units

Pengelolaan angkutan untuk FAMETransportation management for FAME

11 Unit11 Units

6 Unit6 Units

Depot

Kelola depo milik swasta dengan sistem Vendor Held Stock (VHS)Management of privately-owned depot through a Vendor Held Stock (VHS) system

Kelola VHS di depo: 20 klienVHS management at depots: 20 clients

Kelola VHS di depo: 18 klienVHS management at depots: 18 clients

Handling marine dengan sistem FrancoHandling marine with a Franco system

Pelanggan: 17 klienCustomers: 17 clients

Pelanggan: 10 klienCustomers: 10 clients

KSO (Kerjasama Operasi)KSO (Operational Partnership)

1. Kelola 7 DPPU2. DEPO LPG AMURANG3. JOBBER TJ. PANDAN

1. Management of 7 DPPU2. DEPO LPG AMURANG3. JOBBER TJ. PANDAN

Kelola 4 DPPU Mangement of 4 DPPU

Ritel Bahan Bakar (RBB)Fuel Retail

Jasa pengelolaan SPBU, SPBEFuel oil refiling station (SPBU) and LPG filling station (SPBE) management

1 SPBU, 1 SPBE, 2 SPPBE 1 SPBU, 1 SPBE

Kelola SPBU milik sendiriManage self-owned fuel oil refiling station 1 SPBU 1 SPBU

Trading

Specialty Chemical

Pelanggan: Pertamina Group dan SwastaCustomer: Pertamina Group and Private

Pelanggan: Pertamina Group dan SwastaCustomer: Pertamina Group and Private

Commodity Chemical Pelanggan: Pertamina GroupCustomer: Pertamina Group

Pelanggan: Pertamina GroupCustomer: Pertamina Group

BBM Industri Industrial Fuel

Pelanggan: Industri pertambangan, manufaktur dan marineCustomers: Mining, manufacturing andmarine industries

Pelanggan: Industri pertambangan, manufaktur dan marineCustomers: Mining, manufacturing and marine industries

Pelumas & AspalthLubricants & Asphalt

Pelanggan Pelumas: Own Use Mobil Tangki EPN, Swasta Pelanggan Aspalth: SwastaLubricant Customers: EPN's Own Use EPN Vehicle Tanks, PrivateAspalth customers: Private

Pelanggan Pelumas: Own Use Mobil Tangki EPN, Swasta Pelanggan Aspalth: SwastaLubricant Customers: EPN's Own Use EPNVehicle Tanks, PrivateAspalth customers: Private



Realisasi ProduksiRealization of Production

Volume per Unit Bisnis SatuanUnit

ProduksiProduction Volume per Business Unit

2019 2018Volume Melalui Transportasi KL 17.330.396 16.260.201 Volume throughout TransportasiVolume Penyaluran BBM - Depo KL 2.408.867 2.189.559 Fuel - Depo Distribution Volume Volume Ritel Bahan Bakar SPBU KL 27.022 26.514 Gasoline Fuel Retail VolumeVolume Ritel Bahan Bakar SPBE Ton 19.867 19.316 SPBE Fuel Retail VolumeVolume Depo LPG Amurang Ton 40.199 - Amurang LPG Depo VolumeVolume BBM Inmar KL 217.610 175.403 Inmar Gasoline VolumeTrading Specialty & Mud Chemical Drum 202.501 31.224 Specialty & Mud Chemical TradingTrading Pelumas KL 2.407 1.747 Lubricant TradingTrading Aspal KL - 27 Asphalt Trading

Volume penjualan EPN 2019 rata-rata mengalami peningkatan dari semua unit bisnis, Transportasi tumbuh 7% dan Depo tumbuh 10% dari tahun lalu. Peningkatan volume penjualan dari kedua unit bisnis tersebut berasal dari project existing dan penambahan project baru di tahun 2019 yaitu 2 Depo VHS, 10 Depo Franco, 1 Depo LPG Amurang, 1 Jobber Tj. Pandan – Belitung, 3 DPPU/Aviasi, 5 TBBM All In Plus (Kolaka, Poso, Moutong, Bangai, Tahuna) dan 1 LTSA (Long-term Service Agreement) ATG Semarang.

Dari sisi trading, volume penjualan BBM Inmar di tahun 2019 juga mengalami peningkatan 24% dari volume throughput tahun lalu dengan peningkatan volume penjualan terbesar berasal dari area Sulawesi, Sumatera dan Kalimantan.

Sementara peningkatan volume penjualan Chemical di tahun 2019 cukup signifikan dengan volume penjualan terbesar berasal dari Specialty Chemical atas project EOR TPFT PEP Aset V Tanjung. Volume penjualan Specialty Chemical sejak bulan Februari 2019 telah menggeser komposisi penjualan Mud Chemical.

Berikut disampaikan kinerja keuangan dan profitabilitas segmen Jasa Distribusi dan Logistik Energi.

Kinerja Keuangan dan Profitabilitas Segmen Jasa Distribusi dan Logistik EnergiFinancial Performance and Profitability of the Energy Distribution and Logistics Services Segments


2019(Rp-juta | million)


Kenaikan (Penurunan)Increase (Decrease)


Difference

Persentase(%)

PercentageLaba (Rugi) BersihProfit (Loss) NetPendapatanRevenue 4.364.089 3.892.296 471.793 12

Pendapatan EksternalExternal Revenue 4.121.317 3.695.856 425.461 12

Pendapatan antar SegmenRevenue between Segments 242.772 196.440 46.332 24

Beban Pokok PendapatanCost of Revenue (3.909.600) (3.508.346) (401.254) 11

Laba KotorGross Profit 454.490 383.951 70.539 18

Beban PenjualanSelling Expenses (660) (438) (222) 51

The sales volume of EPN in 2019 increased from all business units, from the Transportation grew 7% and from the Depo grew 10% compared to last year. The increase in sales volume of the two business units came from existing projects and the addition of new projects in 2019, namely 2 VHS Depot, 10 Franco Depot, 1 Amurang LPG Depot, 1 Jobber Tj. Pandan - Belitung, 3 DPPU/Aviation, 5 TBBM All in Plus (Kolaka, Poso, Moutong, Bangai, Tahuna) and 1 LTSA (Long-term Service Agreement) ATG Semarang.

In terms of trading, Inmar's fuel sales volume in 2019 also increased 24% from last year's volume throughput with the largest increase in sales volume came from Sulawesi, Sumatera and Kalimantan.

While the increase in Chemical sales volume in 2019 is quite significant with the largest sales volume came from Specialty Chemical for the Tanjung Asep V Tanjung Asep EOR EFT project. Specialty chemical sales volume has been increasing since February 2019 compare to the composition of Mud Chemical sales.

The following presents the financial performance and profitability of the Energy Distribution and Logistics Services segments.


Kinerja Keuangan dan Profitabilitas Segmen Jasa Distribusi dan Logistik EnergiFinancial Performance and Profitability of the Energy Distribution and Logistics Services Segments






Difference

Persentase(%)

PercentageBeban Umum dan AdministrasiGeneral and Administrative Expenses (81.465) (75.563) (5.902) 8

Penghasilan BungaInterest Income 4.171 7.676 (3.505) (46)

Beban KeuanganFinancial Expense (10.310) (2.237) (8.073) 361

Lain-Lain - NetoOther - Net (5.720) (1.707) (4.013) 235

Laba sebelum Pajak Final dan Pajak PenghasilanProfit before Final Tax and Income Tax 360.505 311.682 48.823 16

Beban Pajak FinalFinal Tax Expense (5.098) (4.161) (937) 23

Laba sebelum Pajak PenghasilanProfit before Income Tax 355.407 307.521 47.886 16

Beban Pajak PenghasilanIncome Tax Expense (84.067) (71.799) (12.268) 17

Laba Tahun BerjalanProfit For the Year 271.340 235.722 35.618 15

Penghasilan Komprehensif LainOther Comprehensive Income 2.532 1.326 1.206 91

Total Laba Komprehensif Tahun BerjalanTotal Comprehensive Income for the Year 273.872 237.048 36.824 16

Informasi-Informasi LainOther InformationTotal AsetTotal Assets 1.974.247 1.378.949 595.298 43

Total LiabilitasTotal Liabilities 1.107.918 715.780 392.138 55

Ekuitas - NetoEkuitas - Neto 866.329 663.169 203.157 31

Penyusutan dan AmortisasiDepreciation and Amortization 45.745 34.930 10.815 31

Penambahan Aset TetapAddition to Fixed Assets 210.690 106.738 103.952 97

Kegiatan Operasi Segmen Jasa Hulu Migas Terintegrasi

Divisi Production Operation & Maintenance Services memiliki tiga kelompok bisnis utama: Well Intervention (WLI), Drilling Workover (DWO) dan EPC-OM (Engineering, Production and Construction – Operation & Maintenance). Ketiga bisnis tersebut bergerak dalam bidang jasa pemeliharaan sumur (well services) dan lapangan migas, jasa pengerjaan operasi serta perawatan produksi beserta kegiatan penunjangnya (oilfield services). Selain itu Perseroan juga sedang mengembangkan kompetensi di bidang teknik peningkatan produksi Well Integrity Services. Proses kegiatan usaha jasa produksi Migas ini secara umum terbagi menjadi:1. WLI: Jasa Perawatan sumur-sumur yang sudah beroperasi

yang bertujuan untuk memonitor performa sumur dan meningkatkan produktivitas sumur (terutama yang sudah turun produktivitasnya). Dengan memadukan jasa utama Coiled & Pumping Services, Slickline Services, Welltest Processing Services dan Electric Wireline Logging.

Operation Activities of the Integrated Upstream Oil and Gas Service SegmentThe Production Operation & Maintenance Services Division has the following three main groups: Well Intervention (WLI), Drilling Workover (DWO) and EPC-OM (Engineering, Production and Construction - Operation & Maintenance). The three are engaged in drilling and well maintenance services as well as in the field of oil and gas, operations and production maintenance and oilfield services. In addition, the Company is developing competencies as to increase the production of Well Integrity Services. In general, the process of this oil and gas production service activity consist of:

1. WLI: The already operated maintenance service for wells, aiming to monitor well performance and increase well productivity, especially the one with decreasing productivity. This is done by combining the main services of Coiled & Pumping Services, Slickline Services, Welltest Processing Services and Electric Wireline Logging.



2. DWO: Integrated Drilling Services from Drilling Services, Drilling Support Services and Maintenance Services for wells that are already operating that aim to increase the productivity of existing wells. This combination produces a comprehensive solution for consumers who have problems with old wells and the process of making new wells. And also has a business line processing gas wells into electricity.

3. EPC-OM: Field maintenance services that have already been produced include Operation & Maintenance (O& M) of exsisting pipelines or even building new pipes and maintaining Engineering, Procurement & Construction (EPC): Tanks, Pipelines, Offshore and Onshore platforms.

The business concept of this field is through a product line approach which consist of:

Well Drilling & Workover Services (DWO)DWO provides services in the field of drilling & workover services where currently focusing on on-shore drilling is in accordance with the competencies and tools owned, but still explores and develops the potential for offshore drilling and geothermal energy given the still large potential for growth in the sector. Meanwhile for supporting drilling services, mud engineering services, mud logging, cementing, H2S and others. Workover service provide services in the field of reworking oil and gas wells both offshore and onshore. The services offered are Hydraulic Workover Services, Artificial Lift Service, Well Completion and Power.

2. DWO: Jasa Pengeboran berintegrasi dari Drilling Services, Drilling Support Services serta Jasa Perawatan sumur-sumur yang sudah beroperasi yang bertujuan meningkatkan produktivitas sumur yang ada. Perpaduan ini menghasilkan solusi menyeluruh bagi konsumen yang memiliki permasalahan dengan sumur tua dan proses pembuatan sumur baru. Serta juga memiliki lini bisnis pengolahan gas sumur menjadi tenaga Listrik.

3. EPC-OM: Jasa perawatan lapangan yang sudah berproduksi di antaranya dengan melakukan Operation & Maintenance (O&M) terhadap jaringan pipa yang sudah ada atau bahkan membangun pipa-pipa baru dan merawatnya Engineering, Procurement, & Construction (EPC): Tangki, Pipeline, Platform Offshore dan Onshore.

Konsep bisnis bidang ini melalui pendekatan product line yang terdiri dari:

No. Kelompok JasaService Group

Lini ProdukProduct Line

1. Drilling & Workover Services

Drilling Services (DRS)Hydraulic Workover & Snubbing Group Services (HWS)Drilling Support Services (DSS)Artificial Lift Services & Power (ALS & P)Well Complation Services (WCS)

2. Well Intervention Services

Coiled Tubing (CTU), Cementing & Pumping Services (CPS)Electric Wireline Logging (EWL)Slickline Services (SLS)Welltesting & Procesing Services (WPS)

3. EPC & OM Engineering Procurement & ConstructionOperation & Maintenance

Kontribusi Pendapatan per Bisnis – Jasa Peneliharaan dan Pengelolaan Lapangan MigasRevenue Contribution per Business - Oil and Gas Field Maintenance and Management Services

22,8%

10,4%

1,0%

1,0%

2018

Rp2.004 Miliar/Billion

31,6%

2,4%

4,6%0,6%

0,4%

6,4%

12,8%

6,1% 22,8%

10,4%

1,0%

1,0%

2019

Rp2.451Miliar/Billion

31,6%

2,4%

4,6%0,6%

0,4%

6,4%

12,8%

6,1%

Jasa Pengeboran & Jasa Kerja Ulang Sumur (DWO)DWO memberikan jasa layanan di bidang drilling & workover services dimana saat ini fokus pada on-shore drilling sesuai dengan kompetensi dan alat yang dimiliki, namun tetap melakukan penjajakan dan pengembangan potensi pada offshore drilling dan panas bumi mengingat masih besarnya potensi pertumbuhan pada sektor tersebut. Sementara itu pada jasa supporting drilling, mud engineering services, mud logging, cementing, H2S dan lainnya. Pada jasa workover memberikan jasa layanan di bidang kerja ulang sumur minyak dan gas baik offshore maupun onshore. Jasa yang ditawarkan adalah Hydraulic Workover Services, Artificial Lift Service, Well Complation, dan Power.


Berikut ini adalah penjelasan masing-masing unit usaha dari jasa pengeboran:1. Integrated Drilling Management: Jasa manajemen untuk

mengintegrasikan seluruh pelaksanaan pemboran, melalui drilling rig dan drilling supporting.

2. Drilling Rig: Jasa pelaksanaan aktivitas utama pemboran.3. Drilling Supporting: Jasa pendukung kegiatan pemboran

yang meliputi:a. Mud Logging: Jasa untuk mengetahui parameter

pemboran, termasuk jasa untuk mendeteksi kandungan H2S disekitar sumur.

b. Mud Engineering: Jasa untuk menyediakan material dan lumpur.

c. Hydrogen Sulphide Services H2S: Jasa penyediaan keamanan pengeboran dari gas dan kondisi berbahaya di area operasi pengeboran.

4. Hydraulic Workover Services: Jasa pekerjaan ulang sumur dengan Rig Snubbing yang dengan tujuan menjaga performance sumur minyak dan gas sehingga berproduksi sesuai dengan harapan klien.

5. Artificial Lisf Services: Seperangkat jasa yang dapat memberikan dengan cara menjaga produksi sumur dengan menggunakan alat bantu buatan manusia. Adapun alat yang digunakan adalah Electric Submersible Pump (ESP), yang membantu meningkatkan produksi dengan mamasukan pompa kedalam sumur. Selain ESP, ALS juga memiliki genset yang berbahan bakar gas buang sumur sehingga dapat dimanfaatkan menjadi tenaga listrik.

Peralatan yang digunakan memiliki variasi Hydraulic Workover Unit, Drilling Rig, MLU, H2S serta tangki peralatan Mud Plant. Utilisasi peralatan dibanding tahun 2018 dapat dijabarkan sebagai berikut:

2019 2018

Kapasitas Capacity

Keberhasilan Utility

Kapasitas Capacity


Hydraulic Workover 11 Hydraulic Rigs 100% 10 Hydraulic Rigs 100%

Drilling Rig Services 1 Unit Drilling Rig 100% 1 Unit Drilling Rig 42%

Mud Logging Service 8 Mud Logging Units 64% 8 Mud Logging Units 74%

H2S Remover Services 6 H2S Remover Units 100% 6 H2S Remover Units 73%

Drilling Fluid Services 15 Liquid Mud Plants 100% 15 Liquid Mud Plants 100%

Jasa Intervensi Sumur (WLI)WLI pada Divisi POMS menawarkan jasa perawatan sumur migas dengan memiliki empat bisnis utama: electric wireline logging services, coiled & pumping services, slickline services, dan welltesting & processing services. Kompetensi peralatan pada area offshore dan onshore area serta sebarannya mulai dari Sumatera, Jawa hingga Kalimantan.

Berikut penjelasan dari masing-masing bisnis yang mendukung WLI:1. Electric Wireline Services: Jasa pelayanan perforasi, evaporasi

logging sumur migas dan panas bumi dengan menggunakan peralatan logging. Proses perforasi dan evaporasi menggunakan melakukan pengambilan data sumur yang digunakan untuk mengetahui kondisi dan keadaan sumur sebagai bahan pengambil keputusan treatment sumur yang perlu dikerjakan.

The following is an explanation of each business unit of the drilling service:1. Integrated Drilling Management: Integrated drilling services

to all operations, through drilling rigs and drilling supporting.

2. Drilling rig: Services for carrying out the main drilling activities.3. Drilling Supporting: Services supporting drilling activites

which include:a. Mud Logging: Services to determine drilling parameters,

including services to detect H2S content around the well.

b. Mud Engineering: Services providing material and mud.

c. Hydrogen Sulphide Services (H2S): Service providing safety of gas drilling and dangerous conditions in the drilling operation area.

4. Hydraulic Workover Services: Well reworking services with Snubbing Rig which aims to maintain the performance of oil and gas wells so that production is in accordance with client expectations.

5. Artificial Lisf Service: A set of services to maintaining well production by using man-made tools. The tool used is the Electric Submersible Pump (ESP), which helps increase production by entering pumps into the well. In addition to ESP, ALS also has a gas-fired generator set that can be used as electicity.

The equipment used has a variety of Hydraulic Workover Units, Drilling Rig, MLU, H2S and Mud Plant tank equipment. Utilization of equipment compared to 2018 can be described as follows:

Well Intervention Services (WLI)WLI in the POMS Division offers oil and gas well care services with four main business: Electric Wireline Logging Service, Coiled & Pumping Services, Slickline Services, and Welltesting & Processing Services. Equipment competnecy in the area of offshore and onshore area and its distribution starting from Sumatera, Java to Kalimantan.

The following is an explanation of each business that supports WLI:1. Electric Wireline Services: Perforation services, evaporation

of oil and gas well logging by using logging equipment. The process of perforation and evaporation using well data collection is used to determine the condition and condition of the well as a decision maker for well treatment that needs to be done.



2. Coiled & Pumping Services: Jasa pelayanan intervensi Sumur dengan mengguanakan peralatan coiled tubing yang dibantu peralatan pompa-pompa yang dapat memompakan fluida dan chemical untuk mengembalikan kondisi sumur sesuai dengan program klien.

3. Slickline Services: Jasa pelayanan intervensi sumur dengan mengguanakan peralatan Slikcline Unit dengan mengguanakan peralatan bantu sumur yang digunakan untuk membersihkan scale pada sumur produksi minyak dan gas bumi.

4. Welltesting & Processing Services: Jasa pelayanan sumur produksi dengan menggunakan peralatan dan pemisahan minyak bumi sehingga dapat didapat data kondisi minyak dan gas yang diproduksi oleh sumur. Minyak dan gas bumi tersebut dilakukan evaluasi serta dimanipulasi di atas tanah sehingga menjaga dan meningkatkan produksinya.

Dari tabel berikut didapat jenis Peralatan yang digunakan WLI serta tingkat utilisasi selama tahun 2018 dibanding dengan tahun 2017 untuk mendukung kegiatan operasinya adalah sebagai berikut:

2019 2018

Kapasitas Capacity


Kapasitas Capacity


Coiled Tubing 4 Coil Tubing Units 100% 4 Coil Tubing Units 92%

Cementing 3 Cementing Units 72% 3 Cementing Units 86%

Slickline 11 Portable Slick Lines 100% 11 Portable Slick Lines 98%

Testing Barge 3 Testing Barges 100% 3 Testing Barges 100%

Surface Testing 4 Testing Surfaces 100% 4 Testing Surfaces 98%

Drill Steam 4 DST 44% 4 DST 51%

Wireline Logging Services 22 Wireline Logging Units 100% 22 Wireline Logging Units 83%

Engineering Procurement & Construction and Operation MaintenancePOMS memiliki Group Bisnis EPC OM yang memberikan pelayanan jasa kepada klien Operasi dan Perawatan (OM) Fasilitas Surface Minyak dan Gas Bumi. Adapun cakupan bisnis OM adalah perawatan pipa, perawatan pompa pengepul, perawatan tangki perawatan bangunan dan lain-lain.

Pencapaian revenue unit binis EPC OM ditahun 2019 mengalami pertumbuhan 13% dari tahun 2018, hal ini didorong adanya serapak kontrak untuk pekerjaan di pemeliharaan electrical dan pemeliharaan mechanical ONWJ, pemeliharaan fasilitas di Conoco Phillips, Anjungan X Ray Jatibarang dan program Recovery Platform YYA PHE ONWJ. Sedangkan untuk pekerjaan di EPC, antara lain yakni pekerjaan Kompresi gas LP Betung, pengadaaan jasa EPCI Pendopo dan lain-lain.

2. Coiled & Pumping Services: Well intervention services by using coiled tubing equipment assisted by pumping equipment that can pump fluids and chemicals to restore well conditions in accordance with client programs.

3. Slickline Services: Well intervention services by using Slickline Unit equipment by using well support equipment used to clean the scale in oil and gas production wells.

4. Welltesting & Processing Services: Services for producing production wells using equipment and oil separation so that data can be obtained on the condition of oil and gas produced by wells. Oil and gas are evaluated and manipulated on the ground so as to maintain and increase poduction.

The following table shows the types of equipment used by WLI as well as the utilization rate during 2018 compared to 2017 to support its operational activities as follows:

Engineering Procurement & Construction and Operation MaintenancePOMS Division has an EPC-OM business group that provides services to client of operation and maintenance (OM) surface oil and gas facilities. The scope of OM business is pipeline maintenance, steaming pump maintenance, tank maintenance, building maintenance, and others.

Revenue achievement of EPC OM business unit in 2019 record a growth of 13% from 2018, this was driven by the existence of a series of contracts for work in electrical maintenance and ONWJ mechanical maintenance, maintenance of facilities at Conoco Phillips, X Ray Jatibarang Platform and YYA PHE ONWJ's Recovery Platform program. While for work at EPC, among others, work on LP Betung gas compression, procurement of EPCI Pendopo services and others.


Berikut pencapaian revenue unit bisnis OM EPC dari tahun 2017– 2019:

(Dalam Miliar Rupiah)(In Billion Rupiah)

264

687

775

20182017 2019

+160%

+13%

Jasa Penyelidikan dan Pengolahan Jasa Seismik Layanan Perseroan dalam kegiatan usaha ini merupakan satu-kesatuan yang terpadu dan terintegrasi dalam ekplorasi sumur-sumur migas yang mencakup semua tahap yang dibutuhkan dalam penelitian geofisika (seismic). Proses dimulai dari pengumpulan data dan survei lapangan, pemprosesan data hasil survei, hingga intrepretasi data untuk pengambilan langkah selanjutnya dalam ekplorasi sumur-sumur migas. Namun layanan tersebut juga dapat disesuaikan dengan kebutuhan pelanggan jasa Perseroan.

Para pelanggan memerlukan data geologi di bawah permukaan (sub-surface) untuk mengetahui keberadaan Migas serta ukuran besarnya kandungan migas di perut bumi, di lokasi perusahaan-perusahaan tersebut beroperasi, yaitu di wilayah kerja masing-masing, baik di daratan, lepas pantai (marine) maupun transisi antara daratan dan pesisir pantai.

Jasa Penyelidikan dan Pengolahan Jasa Seismik dilakukan oleh Division of Geoscience and Reservoir Services (GRS) yang memberikan jasa: 1. Geo Data Acquisition Land (GDL); Seismic Data Acquisition

Land Survey, 3D and 2D, dan Seismic Design.2. Geo Data Acquisition TZ & Marine (GDM): Seismic Data

Acquisition Transition Zone and Marine Survey, Seismic Design, Marine Survey, Geodetic Control Point, Rig and Wellsite Positioning, Road and Pipeline Routing, Magnetotelluric, Microgravity.

3. Geo Data Processing (GDP): Seismic Data Processing 2D/3D (land, marine, TZ), Quantify Seismic Amplitude Information, Lithology, Petrophysical Properties of Reservoirs, Geology Geophysics & Reservoir (Seismic Interpretation and Geological Modelling, 2D/3D Depth Imaging, AVO, Petrophysics Analysis, Reservoir Simulation), Navigation and Non Seismic Land Survey, Geodetic Control Point, Rig and Wellsite Positioning, Road and Pipeline Routing, Magnetotelluric, Microgravity.

The following is the OM EPC business unit revenue achievements from 2017– 2019:

Seismic Date Acquisition and Processing ServicesThe Company services in this business activity are integrated and integrated units in the exploration of oil and gas wells that cover all the stages needed in geophysical (seismic) research. The process starts from collecting data and field surveys, processing survey data, and interpreting data to take the next step in exploring oil and gas wells. But the service can also be tailored to the needs of the Company service customers.

Customers need sub-surface data to determine the presence of oil and gas and size of the oil and gas content of the earth, in the locations of these companies, namely in their respective work areas, both on land, offshore and transition between land and coast.

Seismic Service Investigation and Processing Services are carried out by the Division of Geoscience and Reservoir Services (GRS) that provides services:1. Geo Date Acquisition Land (GDL); 3D/2D, Seismic Date

Acquisition Land Survey, and Seismic Design.2. Geo Date Acquisition TZ & Marine (GDM): Seismic Data

Acquisition Transition Zone and Marine Survey, Seismic Design, Marine Survey, Geodetic Control Point, Rig and Wellsite Positioning, Road and Pipeline Routing, Magnetotelluric, Microgravity.

3. Geo Data Processing (GDP): Seismic Data Processing 2D/3D (land, marine, TZ), Quantity Seismic Amplitude Information, Lithology, Petrophysical Properties of Reservoirs, Geology Geophysics & Reservoirs (Seismic Interpretation and Geological Modelling, 2D/3D Depth Imaging, AVO, Petrophysics Analysis, Reservoir Simulation), Navigation and Non Seismic (Land Survey, Geodetic Control Point, Rig and Wellsite Positioning, Road and Pipeline Routing, Magnetotelluric, Microgravity.



Secara umum proses jasa ini digambarkan sebagai berikut:

Studi GeologiGeological

Studies

Desain SeismikSeismic Design

Proses Akuisisi DataData Acquisition Process

PengolahanProcessing

InterpretasiInterpretation

Studi GeologiGeological

Studies


Topografi & Navigasi

Topography & Navigation


Akuisisi DataData Acquisition

Pengolahan DataData Processing

Interpretasi Seismik & Proses GGR

Seismic Interpretation &

GGR Process

Operasional Kapal

Vessel Operation

Non SeismikNon Seismic

Seismik PasifPassive Seismic

Studi & Desain GeologiGeological Studies & Design

Peralatan GeofisikaGeophysical Equipment

Perangkat LunakSoftware

Di jasa akuisisi seismik darat, sebanyak 1 proyek merupakan carried over dari tahun 2018 dan berhasil diselesaikan pada tahun 2019, dengan lokasi proyek di pulau Sulawesi. Selain itu ada pekerjaan baru di wilayah Sumatera dan Pulau Jawa.

Pekerjaan akusisi seismik laut di tahun 2019 mulai ke wilayah overseas, yakni pekerjaan di 2D Seismic Marine Phu Kanh Basin Offshore di wilayah Vietnam. Hingga saat ini sedang melaksanakan pekerjaan Komitmen Kerja Pasti (KKP) PHE Jambi Merang dan berlangsung hingga tahun 2020.

Kontribusi Pendapatan per Bisnis – Jasa Penyelidikan dan Pengolahan Data SeismikRevenue Contribution per Business - Seismic Data Processing and Investigation Services

56,0% 62,3%36,7% 32,1%

7,3% 5,6%

GDM

GDL

GDP

2018 2019

612 1.386

In general, this service process is described as follows:

In land seismic acquisition services, as many as 1 project is carried over from 2018 and successfully completed in 2019, and the location of the project is in Sulawesi. In addition there are new works to do in Sumatera and Java.

Sea seismic acquisition work in 2019 initially spread overseas, namely work on 2D Seismic Marine Phu Kanh Basin Offshore in Vietnam. Until now, it is carrying out Workforce Commitment Program(KKP) of Jambi Merang PHE and will last until 2020.


Berikut kapasitas dan volume produksi: The following is the production capacity and volume:

Alat Penyelidikan SeismikSeismic Acquisition Equipment

SatuanUnit

Produksi/KapasitasProduction/Capacity

2019 2018Seismic Data Capacity Seismic Data Acquisition Land Crew 5 5 Seismic Data Acquisition TZ Crew 1 1 Seismic Data Acquisition Marine Crew 1 1Seismic Data Acquisition 2D Data Collection Km 18.837 1.423 3D Data Collection Kmsq 690 594 2D Data Processing Km 2.336 6.769 3D Data Processing Kmsq 11.410 2.250

Berikut disampaikan kinerja keuangan dan profitabilitas segmen Jasa Hulu Migas Terintegrasi:

The following is the financial performance and profitability of the Integrated Upstream Oil and Gas Services segment:

Kinerja Keuangan dan Profitabilitas Segmen Jasa Hulu Migas TerintegrasiFinancial Performance and Profitability of the Integrated Upstream Oil and Gas Service Segment


2019(Rp-juta)

2018(Rp-juta)


Selisih(Rp-juta)

Difference

Persentase(%)

PercentageLaba (Rugi) BersihNet Profit (Loss)PendapatanRevenue 3.847.015 2.653.918 1.193.097 45

Pendapatan EksternalExternal Revenues 3.821.891 2.636.121 1.185.770 45

Pendapatan Antar SegmenInter-Segment Revenues 25.124 17.797 7.327 41

Beban Pokok PendapatanTotal Cost of Revenues (3.578.480) (2.500.157) (1.078.323) 43

Laba KotorGross Profit 268.535 153.761 114.774 75

Beban PenjualanSelling Expenses (2.722) (2.094) (628) 30

Beban Umum dan AdministrasiGeneral and Administrative Expenses (193.642) (150.617) (43.025) 29

Penghasilan BungaInterest Income 3.716 5.052 (1.336) (26)

Beban KeuanganFinancial Costs (24.702) (84.376) 59.674 (71)

Lain-Lain - NetoOthers - Net (15.347) 64.876 (80.223) (124)

Laba sebelum Pajak Final dan Pajak PenghasilanProfit before Final Tax and Income Tax 35.838 (13.398) 49.236 367

Beban Pajak FinalFinal Tax Expense (17.201) (16.017) (1.184) 7

Laba sebelum Pajak PenghasilanProfit before Income Tax 18.637 (29.415) 48.052 163

Beban Pajak PenghasilanIncome Tax Expense (14.328) 5.528 (19.856) (359)

Laba Tahun BerjalanProfit for the Year 4.309 (23.887) 28.196 (118)

Penghasilan Komprehensif LainOther Comprehensive Income (11.753) 11.759 (23.512) (200)

Total Laba Komprehensif Tahun BerjalanTotal Comprehensive Income for the Year (7.444) (12.128) 4.684 39



Kinerja Keuangan dan Profitabilitas Segmen Jasa Hulu Migas TerintegrasiFinancial Performance and Profitability of the Integrated Upstream Oil and Gas Service Segment


2019(Rp-juta)

2018(Rp-juta)


Selisih(Rp-juta)

Difference

Persentase(%)

PercentageInformasi-Informasi LainOther InformationTotal AsetTotal Assets 4.606.703 4.127.301 479.402 12

Total LiabilitasTotal Liabilities 2.092.940 1.660.843 432.097 26

Ekuitas - NetoEquity - Net 2.513.762 2.466.455 47.307 2

Penyusutan dan AmortisasiDepreciation and Amortization 312.575 271.776 40.799 15

Penambahan Aset TetapAddition of Fixed Assets 210.948 371.933 (160.985) (43)

KEGIATAN OPERASI SEGMEN JASA PENUNJANG MIGAS

PT Sigma Cipta Utama (SCU) PT Sigmaa Cipta Utama sebagai perusahaan penyedia jasa bidang pengelolaan data mempunyai peluang pasar yang masih terbuka luas untuk berkembang. Untuk dapat menjadi perusahaan penyedia jasa pengelolaan data yang handal, seperti yang tertuang dalam visi dan misi, maka Perusahaan harus memiliki keunggulan daya saing atas produk dan jasa yang ditawarkan ke pasar, termasuk dalam merencanakan strategi pengembangan prospek yang terarah dan efektif.

Proses Usaha Manajemen DataData Management Business Process

Manajemen Data FisikPhysical Data Management• Penyimpanan/Storage• Penataan/Management• Pemeliharaan/Maintenance

Remastering(Alih media dan format)

Manajemen Data Elektronik & Sistem Pengelolaan Kearsipan/Electronic Data Management & Data Management System

Perusahaan Migasdan Non Migas

Oil & Gas Companyand Non Oil & Gas Company

Data KegiatanHulu Migas danNon MigasOil & Gas andNon Oil & GasUpstreamActivity Data

Data• Magnetic Tape• Dokumen/ Document• Contoh/Sample

ACTIVITIES ON OIL AND GAS SUPPORTING SERVICES SEGMENT OPERATIONS

PT Sigma Cipta Utama (SCU)PT Sigma Cipta Utama as a date management service provider company has a market opportunity that is still widely open to develop. To be able to become a reliable date management service provider, as stated in the vision and mission, the Company must have a competitive advantage over the products and services offered to the market, including in planning targeted and effective prospect development strategies.


In the context of supporting the oil and gas industry, the Company plays an important role in the management and preservation of the results of exploration and production of oil and gas wells. Even old data recorded in the form of paper documents can be transferred into digital form so that it can be reprocessed, because one of the Company service products from this business activity is document scanning services. The Company also has the ability and facilities to carry out maintenance, preservation and re-identification of Geological Samples.

The Company also plays an important role in the world of Information and Communication Technology in the oil and gas industry sector. Oil and gas exploration and exploitation activities require information and communication technology facilities, both for personnel communication, data communication, and asset and personal tracking, Radio Frequency Identification (RFID). In remote areas, radio communication is the best choice; and then the Company is able to provide communication provisions and services with radio frequency frequencies (Radio Trunking, Broadband Communication, Wireless Data Communication), services for providing IT and Automation devices, sensors and trackers for both assets and human/personnel, including building services/customization of software related to these requirements (Control Equipment Monitoring, Vessel Tracking Monitoring System, Fuel Monitoring, GPS Tracking, Inventory and Tagging with RFID). Besides that, SCU also provides other ICT (Information Communication Technology) services including Data Centers & Disaster Recovery Services, IT Solutions, IT Service Management (ITSM), Knowledge Management Systems (KMS), Hydroulic Workover Unit (HWU) Monitoring System, Smart Building, etc.

Dalam konteks penunjang industri migas, Perseroan memegang peranan penting dalam pengelolaan dan pelestarian hasil ekplorasi dan produksi sumur-sumur perminyakan dan gas-bumi. Bahkan data-data lama yang terekam ke dalam bentuk dokumen kertas, dapat ditransfer ke dalam bentuk digital sehingga dapat diolah kembali, karena salah satu produk jasa Perseroan dari kegiatan usaha ini adalah jasa pemindaian dokumen. Perseroan juga memiliki kemampuan dan fasilitas untuk melakukan pemeliharaan, pelestarian dan re-identifikasi Geological Sample.

Perseroan juga berperan penting pada dunia Teknologi Informasi dan Komunikasi (Information Communication Technology) sektor industri migas. Kegiatan eksplorasi dan eksploitasi migas memerlukan sarana Teknologi Informasi dan Komunikasi, baik untuk komunikasi personel, komunikasi data, maupun pelacakan (tracking) aset dan personal, Radio Frequency Identification (RFID). Di wilayah terpencil dan Remote Area, komunikasi radio menjadi pilihan terbaik; dan Perseroan sanggup memberikan jasa penyediaan dan pelayanan komunikasi dengan frekuensi gelombang radio (Radio Trunking, Broadband Communication, Wireless Data Communication), jasa penyediaan perangkat IT dan Automation, sensor dan pelacak/tracking baik untuk aset maupun human/personel, termasuk juga jasa membangun/kastemisasi perangkat lunak yang terkait dengan keperluan tersebut (Control Equipment Monitoring, Vessel Tracking Monitoring System, Fuel Monitoring, GPS Tracking, Inventory dan Tagging dengan RFID). Selain itu, SCU juga memberikan Jasa layanan ICT (Information Communication Technology) lainnya meliputi Data Center & Disaster Recovery Services, IT Solution, IT Service Management (ITSM), Knowledge Management System (KMS), HWU (Hydroulic Workover Unit) Monitoring System, Smart Building dan sebagainya.

Proses Usaha ICTICT Business Process

Definisi Kebutuhan Pengguna

User Requirement Definition

Sistem DesainDesign System

PemrogramanProgramming

Umpan BalikFeedback

Uji KelayakanFeasibility Test

Pengiriman kepada Konsumen

Delivery to Consumer

PemeliharaanMaintenance



In general, there was an increase in SCU revenue of 15%, from Rp90.1 billion in 2018 to Rp103.5 billion in 2019. The warehouse/physical data management services business has increased revenue from Rp59.2 billion to Rp70.2 billion in 2019. This additional income is obtained from the Remote Data Management, General Warehousing, Geological Sample Maintenance and tax data management businesses. Likewise, the business of ICT/digital data management services has increased revenue from Rp30.8 billion in 2018 to Rp33.2 billion this year. Additional income is mostly derived from the tracking business (GPS, VTMS), inspection and monitoring.

Proses Usaha AutomationBusiness Process Automation

Wireless TelcoNetwork

CentralControl Room

FPM-8151HIndustrial Stainless

Monitor

ADAM-41178-cm Analog

Input

UNO-1150 GHDIN-rail PC with 2x LAN, 3 x COM

Generator

Voltage Regulator

Current Sensor

Local Wellhead Control System

Oil Field Drilling Monitoring System

Infrastructure iOT

Total Automation System

GPRS/3GBase Station

GPRSModem

GPRSModem

Tahun 2019 SCU Secara umum, terjadi peningkatan pertumbuhan pendapatan SCU sebesar 15%, dari Rp90,1 miliar tahun 2018 menjadi Rp103,5 miliar tahun 2019. Bisnis warehouse/jasa pengelolaan data fisik mengalami peningkatan pendapatan dari Rp59,2 miliar menjadi Rp70,2 miliar tahun 2019. Penambahan pendapatan ini banyak terjadi di bisnis Remote Data Management, General Warehousing, Geological Sample Maintenance dan Pengelolaan Data Perpajakan. Begitu juga halnya dengan bisnis ICT/jasa pengelolaan data digital mengalami kenaikan pendapatan dari Rp30,8 miliar pada tahun 2018 menjadi Rp33,2 miliar pada tahun ini. Penambahan pendapatan banyak terjadi pada bisnis tracking (GPS, VTMS), inpeksi dan monitoring.


Warehouse service production occupancy services are as follows:

The sales volume of media transfer management services (Remastering) in Warehouse services is as follows:

The capacity of ICT (Information Communication Technology) services is as follows:

Sales Capacity of ICT (Information Communication Technology) Services are:

PT Elnusa Fabrikasi and Konstruksi (EFK)The Compnay through its subsidiary PT Elnusa Fabrikasi and Konstruksi (EFK) conducts business activites as follows:1. Fabrication and Procurement of Oil and Gas Equipement.2. Trade OCTG as OCTG pipe provider as a manufacturer

(Trading).3. OCTG Pipe Threading.4. Large Construction Services (EPC).5. Oil and Gas Equipment Repair Services (Maintenance Services).6. Services for design, engineering, supervision and

implementation of construction.

Okupansi produksi jasa layanan Warehouse adalah sebagai berikut:

Pengelolaan Data FisikPhysical Data Management

SatuanUnit

KapasitasCapacity

OkupansiOccupancy

2019 2018 2019 2018

Tape StorageM2 1.869 414 1.035 352Reel 403.655 223.560 223.560 223.560

Catridge RoomM2 289 427 289 358

Catridge 416.118 384.300 416.118 406.937

Document StorageM2 10.434 3.874 10.434 3.874Box 176.930 290.920 174.430 211.547

Core StorageM2 3.426 2.439 3.426 1.849Box 75.378 145.587 75.378 145.988

General Storage M3 18.207 19.472 18.207 19.472

Volume penjualan jasa pengelolaan alih media (Remastering) pada jasa layanan Warehouse adalah sebagai berikut:

WarehouseAlih Media (Data Remastering)

SatuanUnit

Volume PenjualanSales Volume

2019 2018Scanner Sheet 8.200.000 35.925.145Tape Magnetic Drive Reel 7.200 8.655

Kapasitas Jasa layanan ICT (Information Communication Technology) adalah sebagai berikut:

ICTRadio Trunking & IT Solution

SatuanUnit

KapasitasCapacity

2019 2018Radio Telecommunication Unit 1.410 1.395Vessel Tracking Management System Vessel 84 84GPS Unit 1.995 2.234

Kapasitas Penjualan Jasa Layanan ICT (Information Communication Technology) adalah:

ICTRadio Trunking & IT Solution

SatuanUnit

Volume PenjualanSales Volume

2019 2018Radio Telecommunication Unit 1.410 1.500Vessel Tracking Management System Vessel 84 150Non Directional Beacon Unit 0 1GPS Unit 1.995 4.000

PT Elnusa Fabrikasi dan Konstruksi (EFK) Perseroan melalui anak perusahaan PT Elnusa Fabrikasi dan Konstruksi (EFK) melakukan kegiatan usaha sebagai berikut:1. Fabrikasi dan Pengadaan Peralatan Migas.2. Niaga OCTG sebagai penyedia pipa OCTG selaku pabrikan

(Trading).3. Penguliran Pipa OCTG (Threading).4. Jasa Konstruksi Besar (EPC).5. Jasa Perbaikan Peralatan Migas (Maintenance Services).6. Layanan jasa desain, engineering, pengawasan, dan

pelaksanaan konstruksi.



Proses kegiatan usaha jasa OCTG dapat digambarkan sebagai berikut:

Impor Pipa Casting OCTGImport OCTG Casing Pipe

Proses PenguliranThreading Process

Penjualan (Perdagangan Pipa)Pipe Trading Product

Pencapaian Revenue di tahun 2019 mengalami peningkatan yang sangat signifikan 105% dari tahun 2018. Kenaikan revenue yang signifikan di karenakan beberapa projek pada unit bisnis OCTG seperti Pekerjaan Pipa GRE Pertamina EP dan unit bisnis Fabrikasi pekerjaan Rig EHR-13.

Dari sisi Produksi jasa ulir, perbandingan kinerja operasi tahun 2019 dan 2018 dapat disajikan sebagai berikut:

Produksi Jasa UlirThreading Service Production

Jenis PekerjaanType of Work

SatuanUnit

ProduksiProduction

2019 2018Threading OCTG MT 2.776 5.502Trading OCTG MT 1.667 1.500

PT Patra Nusa Data (PND) PND sebagai partner utama dari Pertamina Upstream Data Center (PUDC) - UTC dalam mengelola data Migas milik negara dengan cakupan lingkup kerja yaitu mengumpulkan, mengelola, menyimpan dan memasyarakatkan data terkait wilayah kerja migas.

Merujuk kepada berakhirnya kontrak pengelolaan data Migas antara Pusdatin ESDM dan PND yang berakhir pada Maret 2018, terjadi perubahan pola bisnis yang cukup mendasar, semula Perusahaan mendapatkan pendapatan dari lisensi data, namun sejak kontrak pengelolaan data beralih ke Pertamina Upstream Data Center (PUDC) - UTC maka pendapatan Perusahaan menjadi fixed income berdasarkan kontrak services dengan Pertamina Upstream Data Center (PUDC) - UTC.

Jasa yang disediakan PND secara garis besar dikelompokkan ke dalam dua kategori jasa:1. Jasa Geo Data sebagai partner utama dari Pertamina

Upstream Data Center (PUDC) - UTC untuk melakukan pengelolaan data migas dan pemasyarakatan data baik migas konvensional maupun non konvensional (Coal Bed Methane-CBM dan Shale Gas).

2. Jasa Geo IT yang meliputi IT Data Management untuk Pengelolaan Data Fisik, Alih Media (scan, digitasi, vektorisasi, re-drawing, re-mapping) dan Penataan Data Digital (dengan menggunakan perangkat lunak utama INAMETA Plus/Enterprise dan INAMETA Platinum).

The process of OCTG service business activities can be described as follows:

Revenue achievement in 2019 recorded a very significant increase of 105% from 2018. The significant increase in revenue was due to several projects in the OCTG business unit such as the GRE Pertamina EP Pipe Work and the EHR-13 Rig Fabrication business unit.

In terms of threading service production, the comparison of operating performance in 2019 and 2018 is as follows:

PT Patra Nusa Data (PND)PND as the main partner of Pertamina Upstream Data Center (PUDC) - UTC in managing state-owned oil and gas data with a scope of work that is collecting, managing, storing and socializing data related to the oil and gas working area.

Referring to the end of the Oil and Gas data management contract between Pusdatin ESDM and PND which ended in March 2018, there was a fairly fundamental business pattern change, the Company initially received revenue from data licenses, but since the data management contract was switched to Pertamina Upstream Data Center (PUDC) - UTC then the Company income becomes fixed income based on a service contract with Pertamina Upstream Data Center (PUDC) - UTC.

Services provided by PND are broadly grouped into two service categories:1. Geo Date Services as the main partner of Pertamina

Upstream Date Center (PUDC) - UTC to manage oil and gas data and correctional data for both conventional and non-conventional oil and gas (CBM Coal Bed Methane and Shale Gas).

2. Geo IT services which include IT Data Management for Management of Physical Data, Media Transfer (scan, digitization, vectorization, re-drawing, re-mapping) and Digital Data Arrangement (using the main software INAMETA Plus/Enterprise and INAMETA Platinum).


Tabel Realisasi ProduksiProduction Realization Table

Jenis PekerjaanType of Work Unit 2019 2018

Data Collecting(cumulative)

Seismic 2D (Post Stack) Line 44.003 43.360Seismic 2D (Field Data) Line 20.531 13.315Seismic 3D Area 106 101Well Well 14.075 14.015

Data Remastering(cumulative)

Seismic Vektorisasi Sheet 57.905 57.597Master Log Well 2.794 2.794GGR Report 10.092 9.917Map Sheet 37.886 37.612Supporting Document 1.562 1.184

Prospect Evaluation & Data Enhancement(cumulative)

Post Stack Km 958.798 958.798Pre Stack Km 117.547 117.5473D Repro Km2 2.521 2.521

Product Development

Digital Oilfield Management System Application PersenPercent 100 54

WIMS (Well Integrity Management System) PersenPercent 100 -

SIMR (System Itegration Module & Reporting) Application PersenPercent 100 -

Advance Well Data Management Development PersenPercent 30 -

Catatan:• Jumlah Data Collecting, Data Remastering Prospect Evaluation & Data

Enhancement, disajikan adalah kumulatif dari tahun ke tahun.• Merujuk pada lingkup pengelolaan data antara PUDC dengan PND, maka

kegiatan Pekerjaan Prospect Evaluation,Study, dan Data Enhancement sudah tidak dilakukan.

• Pekerjaan Master Log tidak dilakukan lagi karena tidak termasuk dalam lingkup kontrak dengan Pertamina.

• Prioritas pekerjaan di 2019 untuk Remastering adalah dilakukan sesuai dengan request dari pengguna data.

• Prioritas pekerjaan Remastering adalah update Metadata untuk aplikasi MDT (Manajemen Data terintegrasi, milik PUDC), QC & Perbaikan Data untuk pelayanan, & input Data Remastering.

Dari sisi pelayanan data kepada pelanggan, perbandingan kinerja operasi tahun 2019 dan 2018 untuk bisnis Geo Data dapat disajikan sebagai berikut:

Jenis DataType of Data 2019 2018

2D Seismic Km 1.081.415,55 147.9343D Seismic Km 819.510,97 65.879Well Well 10.819 1.626GGR (Report) Title 171 184Maps Sheet 15 26Core (Sample) Bags 204 1.050

Notes:• The total of Data Collecting, Data Remastering Prospect Evaluation & Data

Enhancement, presented is cumulative from year to year.• Referring to the scope of data management between PUDC and PND, the

study activity has not been carried out.

• The work of the Master Log is no longer carried out because it is not included in the scope of the contract with Pertamina.

• The priority of work in 2019 for Remastering is done in accordance with the requests from data users.

• Remastering work priorities are Metadata updates for MDT applications (integrated Data Management, owned by PUDC), QC & Data Improvement for service & Remastering Data input.

In terms of data services to customers, the comparison of operating performance in 2019 and 2018 for the Geo Data business can be presented as follows:



Volume produksi jasa Geo IT tahun 2019 dan 2018 dapat disajikan sebagai berikut:

Jenis PekerjaanType of Work

Kapasitas Volume

2019 2018Layanan INAMETA PlusINAMETA Plus Service

ProyekProject 2 3

Layanan INAMETA PlatinumINAMETA Platinum Service

LisensiLicense 1* 1*

Layanan Pay per Use/OliviaPay per Use/Olivia Services

KlienClient 1* 1*

Technical Oil & Gas Data Management Services ProyekProject 1 1

Advance Well Data Management Solution ProyekProject 1 -

*) As a government support (SKK Migas)

PT Elnusa Trans Samudera PT Elnusa Trans Samudera (ETSA) adalah entitas anak perusahaan yang mnyediakan Jasa Marine Support, didirikan pada 8 November 2013. Memiliki 10 unit Kapal, di mana terdiri dari 1 unit Landing Craft Tank (LCT), 6 unit Work Barge (WB), 2 unit Accomodation Work Barges (AWB), dan 1 unit kapal survey seismic yang kemudian diberi nama MV. ELSA REGENT.

Revenue ETSA ditahun 2019 sebesar Rp364 Miliar atau Growth sebesar 7,5% terhadap tahun 2018 sebesar Rp336 Miliar. Revenue Perusahaan didominasi dari Seismic Vessel sebesar 44% dari total pendapatan yang diraih. Adapun utilisasi pekerjaan untuk men-support pekerjaan 2D Seismic Acquisition di wilayah pekerjaan di Pertamina maupun pekerjaan di Vietnam. Well testing dan AWB mayoritas bekerja di wilayah Kalimantan.

Pengembangan ETSA ke depannya akan ikut bersaing di pasar jasa marine offshore dan industry hilir yang lain, seperti supply vessel, self propeler and oil barge (SPOB).

Berikut disampaikan kinerja keuangan dan profitabilitas segmen Jasa Penunjang Migas.

The production volumes of Geo IT services in 2019 and 2018 are presented as follows:

PT Elnusa Trans SamuderaPT Elnusa Trans Samudera (ETSA) is a subsidiary that provides Marine Support Service. It was established on November 8, 2013. Has 10 ship units that consist of 1 Landing Craft Tank (LCT) unit, 6 Work Barge (WB) units, 2 Accomodation Work Barges (AWB) units, and 1 MV Seismic Survey unit, which was later given the name MV. ELSA REGENT.

ETSA revenue in 2019 was IDR364 Billion or grew 7.5% compared to 2018 of Rp336 Billion. The Company's revenue is dominated by Seismic Vessel with 44% of the total revenue. The work utilization is to support 2D Seismic Acquisition work for Pertamina and in Vietnam. Well testing and AWB mostly work in Kalimantan region.

In the future ETSA development will compete in the marine offshore service market and other downstream industries, such as supply vessels, self propellers and oil barges (SPOB).

The following is the financial performance and profitability of the Oil and Gas Support Services segment.


Kinerja Keuangan dan Profitabilitas Segmen Jasa Penunjang MigasFinancial Performance and Profitability of the Oil and Gas Support Services Segment

Jasa Penunjang Migas2019

(Rp-juta)(Rp-million)

2018(Rp-juta)

(Rp-million)


Oil and Gas Support ServicesSelisih

(Rp-juta)Difference

(Rp-million)

Persentase(%)

Percentage

Laba (Rugi) Bersih Net Profit (Loss)Pendapatan 988.663 698.503 290.160 42 Revenue

Pendapatan Eksternal 441.914 292.797 149.117 51 External RevenuesPendapatan Antar Segmen 546.749 405.706 141.043 35 Inter-segment Revenues

Beban Pokok Pendapatan (820.397) (577.580) (242.817) 42 Total Cost of RevenuesLaba Kotor 168.266 120.923 47.343 39 Gross ProfitBeban Penjualan (798) (48) (750) 1.563 Selling ExpensesBeban Umum dan Administrasi (65.396) (54.374) (11.022) 20 General and Administrative ExpensesPenghasilan Bunga 9.206 5.877 3.329 57 Interest IncomeBeban Keuangan (5.478) (3.275) (2.203) 67 Financial CostsLain-Lain - Neto 3.721 4.157 (436) (10) Others NetLaba sebelum Pajak Final dan Pajak Penghasilan 109.521 73.260 36.261 (49) Profit before Final Tax and Income TaxBeban Pajak Final (5.531) (4.833) (698) 14 Final Tax ExpenseLaba sebelum Pajak Penghasilan 103.990 68.427 35.563 (52) Profit before Income TaxBeban Pajak Penghasilan (11.877) (9.220) (2.657) 29 Income Tax ExpenseLaba Tahun Berjalan 92.113 59.207 32.906 56 Profit for the YearPenghasilan Komprehensif Lain (1.631) 1.734 (3.365) (194) Other Comprehensive Income

Total Laba Komprehensif Tahun Berjalan 90.482 60.941 29.541 (48) Total Comprehensive Income for the Year

Informasi-Informasi Lain Other InformationsTotal Aset 1.086.423 884.244 202.179 23 Total AssetsTotal Liabilitas 316.169 172.267 143.902 84 Total LiabilitiesEkuitas - Neto 770.254 711.977 58.277 8 Equity NetPenyusutan dan Amortisasi 86.512 85.625 887 1 Depreciation and AmortizationPenambahan Aset Tetap 61.018 43.739 17.279 40 Addition of Fixed Assets



TINJAUAN KEUANGANFinancial Review

STANDAR PENYAJIAN INFORMASI DAN KESESUAIAN TERHADAP STANDAR AKUNTANSI KEUANGAN

Analisis dan pembahasan kinerja keuangan pada laporan tahunan ini mengacu pada Laporan Keuangan untuk tahun-tahun yang berakhir pada 31 Desember 2019 dan 31 Desember 2018 yang telah di audit oleh Kantor Akuntan Publik Purwantono, Sungkoro & Surja (EY) yang dalam laporan No. 00085/2.1032/AU.1/02/0701-2/1/III/2020 dengan pendapat bahwa laporan keuangan konsolidasian Elnusa menyajikan secara wajar dalam semua hal yang material, sesuai dengan Standar Akuntansi Keuangan (“SAK”) di Indonesia, yang mencakup Pernyataan Standar Akuntansi Keuangan (“PSAK”) dan Interpretasi Standar Akuntansi Keuangan (“ISAK”) yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia, serta Peraturan Otoritas Jasa Keuangan (OJK) No. 29/POJK.04/2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik.

POSISI KEUANGAN KONSOLIDASIAN

Uraian 2019(Rp-juta I million)

2018(Rp-juta I million)


DescriptionSelisih(Rp-juta I million)

Difference

Persentase(%)

PercentageASET ASSETAset Lancar 3.698.370 3.158.507 539.863 17 Current AssetAset Tidak Lancar 3.106.667 2.498.820 607.847 24 Non-current AssetJumlah Aset 6.805.037 5.657.327 1.147.710 20 Total AssetsLiabilitas LiabilityLiabilitas Jangka Pendek 2.504.335 2.116.898 387.437 18 Current LiabilitiesLiabilitas Jangka Panjang 724.004 240.229 483.775 201 Non-current LiabilitiesJumlah Liabilitas 3.228.339 2.357.127 871.212 37 Total LiabilitiesUtang Berbunga 1.127.040 821.415 1.127.040 37 Interest Bearing DebtEkuitas 3.576.698 3.300.200 3.576.698 8 EquityModal Kerja - Neto 1.194.035 1.041.609 1.194.035 15 Working Capital - Net

Per 31 Desember 2019, total Aset Perseroan mengalami pertumbuhan 20% di banding tahun sebelumnya, sementara total Liabilitas naik sebesar 37% dan Ekuitas mengalami kenaikan 8%As of December 31, 2019, the Company’s total assets grew by 20% compared to the previous year, while total liabilities increased by 37% and equity increased by 8%

STANDARD OF INFORMATION REPORTING AND COMPLIANCE WITH FINANCIAL ACCOUNTING STANDARDS

Analysis and discussion of financial performance in this annual report refers to the Financial Statements for the years ended December 31, 2019 and December 31, 2018 which have been audited by the Public Accountant Firm Purwantono, Sungkoro & Surja (EY) as indicated by their reportNo. 00085/2.1032/AU.1/02/0701-2/1/III/2020 with the opinion that Elnusa's consolidated financial statement is presented fairly for all material aspects, in accordance with the Indonesian Financial Accounting Standard ("SAK"), and Interpretation of Financial Accounting Standards ("ISAK") issued by the Indonesian Financial Accounting Standards Board Institute of Indonesian Chartered Accountants, and Financial Services Authority Regulation (OJK) No. 29/POJK.04/2016 concerning Annual Reports of Issuers or Public Companies.

CONSOLIDATED FINANCIAL POSITION


ASETKenaikan aset sebesar 20% didorong dari adanya kenaikan pada Piutang usaha, dimana sebanding dengan adanya kenaikan Pendapatan yang terjadi di tahun 2019. Selain itu kenaikan didorong dari penambahan aktiva tetap yang di peroleh dari realisasi investasi yang dilakukan Perseroan antara Lain Depo LPG Amurang, Hydraulic Workover Unit , Peripheral Seismic dan aktiva lainnya.

Aset Lancar





Difference

Persentase(%)

PercentageKas dan Setara Kas 856.122 719.457 136.665 19 Cash and Cash EquivalentPiutang Usaha – Neto 2.089.958 1.571.843 518.115 33 Trade Receivables - NetAset Keuangan Lancar Lainnya – Neto 35.124 21.090 14.034 67 Other Current Financial

Assets - NetPersediaan – Neto 213.298 167.065 46.233 28 Inventories - NetUang Muka 129.979 89.952 40.027 44 AdvancesPajak Dibayar di Muka 350.353 574.087 (223.734) (39) Prepaid TaxesBeban Dibayar di Muka 23.536 15.013 8.523 57 Prepaid ExpensesJumlah Aset Lancar 3.698.370 3.158.507 539.863 17 Total Current Assets

Kenaikan sebesar 17 Persen atau 539,8 Miliar Rupiah, didominasi dari kenaikan piutang usaha yang diimbangi juga dengan kenaikan pendapatan di tahun 2019. Di sisi lain adanya proses penagihan yang berdasarkan tahapan progres tertentu, antara lain yang ada pada kegiatan di OM & EPC, sehingga berdampak pada kolektabilitas pada Piutang usaha.

Kas dan Setara Kas





Difference

Persentase(%)

PercentageKas 2.256 2.940 (684) (23) Cash

Bank BankRupiah 549.085 474.034 75.051 16 Rupian Dollar Amerika Serikat 262.285 195.283 67.002 34 US DollarDollar Singapura - SGD DollarJumlah kas pada Bank 811.370 669.317 142.053 21 Total Cash in Banks

Call Deposit dan Deposito Berjangka Call Deposits and Time

DepositsRupiah 42.496 47.200 (4.704) C RupiahJumlah Call Deposit dan Deposito Berjangka 42.496 47.200 (4.704) (10) Total Call Deposits and

Time Deposits

Jumlah Kas dan Setara Kas 856.122 719.457 136.665 19 Total Cash and Cash Equivalent

ASSETThe increase in assets by 20% was driven by an increase in trade receivables, which is comparable to an increase in revenue that occurred in 2019. In addition, the increase was driven from the addition of fixed assets obtained from the realization of investments made by the Company including Amurang LPG Depot, Hydraulic Workover Unit, Peripheral Seismic and other assets.

Current Asset

An increase of 17 Percent or 539.8 Billion Rupiah, is dominated by an increase in trade receivables which is also offset by an increase in revenue in 2019. On the other hand there is a billing process based on certain stages of progress, including the OM & EPC activities, which affected the trade receivables collectability.

Cash and Cash Equivalent



Piutang Usaha





Difference

Persentase(%)

PercentageDifakturkan 739.005 567.463 171.542 30 BilledBelum Difakturkan 1.511.885 1.156.436 355.449 31 UnbilledJumlah Piutang Usaha 2.250.890 1.723.899 526.991 31 Total Trade ReceivablesCadangan Kerugian Penurunan Nilai (160.932) (152.056) (8.876) 6 Allowance for Impairment

Jumlah Piutang Usaha Neto 2.089.958 1.571.843 518.115 33 Total Trade Receivables - Net

Aset Tidak lancar





Difference

Persentase(%)

PercentageAset Keuangan Tidak Lancar Lainnya 464.953 163.961 300.992 184 Other Non-current Financial

AssetsPajak Dibayar di Muka – Bagian Tidak Lancar 492.276 327.212 165.064 50 Prepaid Taxes - Non-current

PortionAset Pajak Tangguhan 127.598 109.684 17.914 16 Deferred Tax AssetsPenyertaan Saham-Neto 16.660 8.946 7.714 86 Net-Share Subscription Uang Muka Bagian Tidak Lancar 49.509 22.123 27.386 124 Advantages - Non-current

PositionAset Tetap - Bersih 1.819.321 1.735.854 83.467 5 Fixed Assets - NetAset Tak Berwujud 13.745 18.267 (4.522) (25) Intangible AssetsProperti Investasi - Bersih 51.876 51.993 (117) 0 Investment Properties - NetAset Lain-Lain 70.729 60.780 9.949 16 Pension Benefit Plan AssetsJumlah Aset Tidak Lancar 3.106.667 2.498.820 607.847 24 Total Non-current Assets

Aset Tetap





Difference

Persentase(%)

PercentageTanah 254.210 232.613 21.597 9 LandBangunan, Prasarana dan Instalasi 149.033 155.903 (6.870) (4) Buildings Improvements

and InstallationsMesin dan Peralatan 465.895 517.899 (52.004) (10) Machinery and EquipmentPerabotan dan Perlengkapan Kantor 1.296 - 1.296 100 Office Furniture, Fixures

and EquipmentAlat Transportasi 199.647 184.347 15.300 8 TransportationKonstruksi Baja 578.262 584.009 (5.747) (1) Steel Construction

Aset dalam Penyelesaian (Mesin dan Peralatan) 179.082 70.965 108.117 152

Construction in Progress (Machinery and

Equipment)

Provisi Penurunan Nilai (8.104) (9.882) 1.778 (18) Provision of Allowance for Impairment

Nilai Buku Neto 1.819.321 1.735.854 83.467 5 Net Book Value

Aset tetap dalam bentuk Aset dalam Penyelesaian ( AUC ) mesin dan peralatan mengalami kenaikan sebesar 152% terkait investasi HWU, mobil tangki, dan lainnya yang bertujuan untuk peningkatan pendapatan, maupun maintain capacity.

Accounts Receivable

Non-current Asset

Fixed Asset

Fixed assets in the form of Assets in Completion (AUC) of machinery and equipment increased by 152% related to investment in HWU, tank cars, and others aimed at increasing revenue and maintaining capacity.


Total aset tanggal 31 Desember 2019 mengalami kenaikan sebesar 5% dibanding posisi pada tanggal yang sama tahun 2018, terutama merupakan imbas peningkatan investasi mesin dan peralatan kerja serta bangunan, prasaranan dan instalasi terutama adanya investasi Depo LPG Amurang di Anak Perusahaan EPN.

LIABILITAS

Kenaikan sebesar 37% atau sebesar 871 Miliar Rupiah dari liabilitas di dominasi dari peningkatan pinjaman jangka panjang yang bertujuan untuk kebutuhan pendanaan pembelian investasi di tahun 2019 dan modal kerja.

Liabilitas Jangka Pendek





Difference

Persentase(%)

PercentagePinjaman Bank Jangka Pendek 309.302 608.865 (299.563) (49) Short-term Bank Loans

Utang Usaha 692.797 517.470 175.327 34 Trade PayablesLiabilitas Keuangan Lainnya – Jangka Pendek 55.078 54.673 405 10 Other Current Financial

LiabilitiesLiabilitas Imbalan Kerja Jangka Pendek 119.055 85.031 34.024 40 Short-term Employee

Benefits LiabilityUtang Pajak 73.424 28.780 44.644 155 Taxes PayableAkrual 1.004.400 822.079 182.321 22 AccruedBagian Jangka Pendek dari Pendapatan Ditangguhkan 10.700 - 10.700 100 Current Portion of Deferred

IncomeBagian Jangka Pendek dari Pinjaman Jangka Panjang 239.579 - 239.579 Current Portion of

Non-current Bank LoansJumlah Liabilitas Jangka Pendek 2.504.335 2.116.898 387.437 18 Total Current Liabilities

Liabilitas jangka pendek pada tanggal 31 Desember 2019 naik 18% dibanding posisi pada tanggal yang sama tahun 2018, utang usaha Perseroan naik 34% karena peningkatan pendapatan dan kenaikan beban akrual sebesar 22%. Peningkatan beban akrual berasal dari peningkatan beban proyek, pembelian persediaan dan peningkatan fasilitas kantor.

Liabilitas Jangka Panjang





Difference

Persentase(%)

Percentage

Pendapatan Ditangguhkan - Bagian Tidak Lancar 90.950 - 90.950 100 Deferred Income -

Net of Current PortionPinjaman Bank Jangka Panjang – Setelah Dikurangi Bagian Jangka Pendek

578.159 212.550 365.609 172% Long-term Bank Loans – Net of Current Portion

Liabilitas Imbalan Kerja 54.895 27.679 27.216 98% Employee Benefits LiabilityJumlah Liabilitas Jangka Panjang 724.004 240.229 483.775 201% Total Non-current Liabilities

Total assets as of December 31, 2019 increased by 5% compared to the position on the same date in 2018, mainly due to an increase in investment in machinery and work equipment as well as buildings, infrastructure and installations, especially in the presence of Amurang LPG Depot investment in EPN Subsidiaries.

LIABILITIES

An increase of 37% or amounting to 871 Billion Rupiah from liabilities was dominated by an increase in Long-term loans aimed at funding needs for investment purchases in 2019 and working capital.

Current Liabilities

Short-term liabilities as of December 31, 2019 increased 18% compared to the position on the same date in 2018, the Company's operating debt rose 34% due to an increase in revenue and an increase in accrual expenses by 22%. The increase in accrual expenses came from an increase in project expenses, inventory purchases and an increase in office facilities.

Non-current Liabilities



Liabilitas jangka panjnag pada tanggal 31 Desember 2019 naik 201% dibanding posisi pada tanggal yang sama tahun 2018, mayoritas di sebabkan adanya penambahan pada pinjaman bank, yang akan dijelaskan pada bagian berikutnya. Untuk Pendapatan ditangguhkan merupakan selisih antara nilai buku aset tetap sewa pembiayaan dengan jumlah penerimaan minimum sewa pembiayaan.

Status Pinjaman Bank Perseroan

UraianDescription




Selisih(Rp-juta I million)

Difference

Persentase(%)

PercentagePT Bank BNI (Persero) Tbk - 16.268 (16.268) (100)PT Bank Rakyat Indonesia (Persero) Tbk - 27.427 (27.427) (100)PT Bank Mizuho Indonesia - 130.329 (130.329) (100)PT Bank BNI Syariah 19.797 - 19.797 -PT Bank UOB Indonesia 817.738 434.430 383.308 88PT Bank ICBC Indonesia 189.505 217.626 (28.121) (13)PT Bank Sumitomo Mitsui Indonesia 100.000 - 100.000 -Jumlah Liabilitas Jangka PendekTotal of Current Liabilities 1.127.040 826.080 300.960 36

Untuk pinjaman sindikasi, pada tanggal 22 Februari 2018, Perusahaan dan entitas anak (EPN dan ETSA) memperoleh fasilitas kredit sindikasi dari PT Bank Sumitomo Mitsui Indonesia, The Bank of Tokyo-Mitsubishi UFJ Ltd., Cabang Jakarta, PT Bank ICBC Indonesia dan PT Bank UOB Indonesia, yang terbagi dalam 3 (tiga) tranche, yaitu: 1. Tranche A dengan batas maksimum sebesar USD30.000.000

dan akan jatuh tempo dalam waktu 60 (enam puluh) bulan sejak tanggal perjanjian. Pinjaman ini akan dibayarkan melalui cicilan bulanan sebanyak 48 (empat puluh delapan) kali dimulai setelah 13 (tiga belas) bulan sejak tanggal perjanjian ini.

2. Tranche B1 dalam mata uang Dolar AS dengan batas maksimum sebesar USD25.000.000 dan akan jatuh tempo dalam waktu 60 (enam puluh) bulan sejak tanggal perjanjian. Pinjaman ini akan dibayarkan melalui cicilan bulanan sebanyak 36 (tiga puluh enam) kali dimulai setelah 25 (dua puluh lima) bulan sejak tanggal perjanjian ini.

3. Tranche B2 dalam mata uang Rupiah dengan batas maksimum setara dengan $AS25.000.000 dan akan jatuh tempo dalam waktu 60 (enam puluh) bulan sejak tanggal perjanjian. Pinjaman ini akan dibayarkan melalui cicilan bulanan sebanyak 36 (tiga puluh enam) kali dimulai setelah 25 (dua puluh lima) bulan sejak tanggal perjanjian ini.

EPN dan ETSA memperoleh fasilitas Tranche B1 dan Tranche B2 dengan batas maksimum masing-masing sebesar USD20.000.000 dan USD8.000.000. Fasilitas-fasilitas tersebut diberikan untuk keperluan investasi dan dikenakan bunga sebesar 1,68% per tahun ditambah LIBOR untuk pinjaman dalam mata uang Dolar AS dan 2,85% per tahun ditambah JIBOR untuk pinjaman dalam mata uang Rupiah. Dalam hal JIBOR dibawah 4,65%, maka JIBOR dianggap 4,65%.

Non-current liabilities as of December 31, 2019 increased 201% compared to the same date in 2018, the majority of the increase occur due to an increase in bank loans, which will be explained in the next section. Deferred income is the difference between the book value of fixed assets under finance leases with the minimum amount of revenue received for finance leases.

The Company's Bank Loan Status

For syndicated loans, on February 22, 2018, the Company and its subsidiaries (EPN and ETSA) obtained syndicated credit facilities from PT Bank Sumitomo Mitsui Indonesia, The Bank of Tokyo-Mitsubishi UFJ Ltd., Jakarta Branch, PT Bank ICBC Indonesia and PT Bank UOB Indonesia, which is divided into 3 (three) tranche, namely: 1. Tranche A with a maximum limit of USD30,000,000 and

will be due within 60 (sixty) months from the date of the agreement. This loan will be paid in monthly installments 48 (forty eight) times starting after 13 (thirteen) months from the date of this agreement.

2. Tranche B1 denominated in US Dollars with a maximum limit of USD25,000,000 and will mature in 60 (sixty) months from the date of the agreement. This loan will be paid in monthly installments 36 (thirty six) times starting after 25 (twenty five) months from the date of this agreement.

3. Tranche B2 in Rupiah with a maximum limit equivalent to USD25,000,000 and will be due in 60 (sixty) months from the date of the agreement. This loan will be paid in monthly installments 36 (thirty six) times starting after 25 (twenty five) months from the date of this agreement..

EPN and ETSA obtained Tranche B1 and Tranche B2 facilities with a maximum limit of USD20,000,000 and USD8,000,000, respectively. These facilities are provided for investment purposes and bear interest at 1.68% per annum plus LIBOR for loans in US Dollar and 2.85% per annum plus JIBOR for loans in Rupiah. In the case of JIBOR below 4.65%, then JIBOR is considered 4.65%.


Komposisi Pinjaman Bank dalam Mata Uang Asli

UraianDescription





Difference

Persentase(%)

PercentageRupiahRupiah 371.219 190.451 180.768 95%

Dollar ASAS Dollar 760.537 635.629 124.908 20%

Biaya Pinjaman yang Belum DiamortisasiUnamortized Loan Cost (4.716) (4.665) (51) 1%

Total Pinjaman BankTotal Bank Loans 1.127.040 821.415 305.625 37%

EKUITAS

Uraian2019

(Rp-juta I million)




Difference

Persentase(%)

PercentageModal Saham Ditempatkan dan Disetor Penuh 7.298.500.000 Saham

729.850 729.850 - 0,0 Issued and Fully Paid Capital - 7,298,500,000 Shares

Tambahan Modal Disetor 435.691 435.691 0 0,0 Additional Paid-in CapitalSaldo Laba 2.464.785 2.177.390 287.395 13,2 Retained EarningsPenghasilan Komprehensif Lain (55.288) (44.436) (10.852) 24,4 Other Comprehensive IncomeJumlah Ekuitas yang Diatribusikan kepada Pemilik Entitas Induk

3.575.038 3.298.495 276.543 8,4 Total Equity Attributable to Owners of the Parent

Kepentingan Non Pengendali 1.660 1.705 (45) (2,6) Non-controlling InterestJumlah Ekuitas 3.576.698 3.300.200 276.498 8,4 Total Equity

Jumlah ekuitas yang diatribusikan kepada pemilik entitas induk tumbuh sebesar Rp276 miliar atau 8,4% di atas posisi ekuitas tahun lalu, berasal dari perolehan laba tahun berjalan sebesar Rp356 miliar dikurangi dividen yang dibayarkan dalam tahun 2019 sebesar Rp69 miliar atau setara dengan 25% dari laba bersih tahun 2018 yakni sebesar Rp276,3 miliar.

Laporan Perubahan Ekuitas Konsolidasi

(Dalam Jutaan Rupiah, kecuali Dinyatakan Lain)(In Million Rupiah, unless

Stated Otherwise)

Modal SahamShare

Capital

Tambahan Modal Disetor

Additional Pain-in Capital

Saldo Laba Dicadangkan

Profit Balance

Reserved

Saldo Laba Tidak

DicadangkanReserved

Profit Balance

Penghasilan Komprehensif

LainOther

Comprehensive Income

JumlahTotal

Kepentingan Non

PengendaliNon-

controlling Interest

Jumlah Ekuitas

Total Equity

Saldo per 01/01/2014Balance as of 01/01/2014 729.850 431.422 55.033 1.052.477 (36.419) 2.232.363 27.246 2.259.609







The Composition of Loans Based on the Currency

EQUITY

Total equity attributable to owners of the parent company grew by Rp276 billion, or 8.4% above the equity position last year, derived from current year earnings of Rp356 billion less dividends paid in 2019 of Rp69 billion, equivalent to 25% of profit net in 2018 which amounted to Rp276.3 billion.

Consolidated Report on Changes in Equity



LABA (RUGI) DAN PENGHASILAN KOMPREHENSIF LAIN

(Dalam Jutaan Rupiah, Kecuali Dinyatakan Lain)(In Million Rupiah, unless stated otherwise) 2019 2018



Difference

Persentase(%)

Percentage

PendapatanRevenues 8.385.122 6.624.774 1.760.348 26,6

Beban Pokok PendapatanCost of Revenues (7.514.040) (5.972.680) 1.541.360 25,8

Laba BrutoGross Profit 871.082 652.094 218.988 33,6

Beban UsahaOperating Expenses (337.401) (271.319) (66.082) 24,4

Laba UsahaOperating Profit 533.681 380.775 152.906 40,2

EBITDA*EBITDA* 966.06 767.220 198.846 25,9

Penghasilan BungaInterest Income 17.093 18.605 (1.512) (8,1)

Pendapatan Lain-Lain NetoOther Income - Net 925 17.734 (16.809) (94,8)

Beban Keuangan***Finance Loss*** (57.120) (40.296) 16.284 41,8

Laba sebelum Pajak Final dan Pajak PenghasilanProfit before Final Tax and Income Tax 494.579 376.818 117.761 31,3

Beban Pajak Final dan Pajak PenghasilanFinal Tax Expense and Income Tax (138.102) (100.502) (37.600) 37,4

Laba (Rugi) Tahun BerjalanProfit (Loss) for the Year 356.477 276.316 80.161 29,0

Laba Komprehensif Tahun BerjalanComprehensive Income for the Year 345.625 288.075 57.550 20,0

Laba Tahun Berjalan yang Dapat Diatribusikan kepada Kepentingan Non PengendaliProfit for the Year Attributable to Non Controlling Interest

3 2 1 50,0

Laba Tahun Berjalan yang dapat Diatribusikan kepada Pemilik Entitas IndukProfit for the Year Attributable to Owners of the Parent 356.474 276.314 80.160 29,0

Laba Tahun Berjalan yang dapat Diatribusikan kepada Pemilik Entitas Induk tanpa Penjualan AsetProfit for the Year Attributable to Owners of the Parent Excluded Gain (Loss) on Sale of Fixed Asset

355.557 277.638 80.119 28,1

Marjin Laba BrutoGross Profit Margin 10,39% 9,84% 0,55% 5,54

Marjin EBITDAEBITDA Margin 11,52% 11,58% (0,06)% (0,5)2

Marjin Laba Bersih**Net Profit Margin** 4,25% 4,17% 0,08% 1,93

Marjin Laba Bersih tanpa Penjualan Aset**Net Profit Margin without Asset Sales** 4,24% 4,19% 0,05% 1,18

* EBITDA Perseroan dalam laporan ini dihitung dengan menambahkan laba usaha dengan beban amortisasi dan depresiasi, baik yang dicatat dalam beban pokok pendapatan maupun dalam beban usaha Perseroan untuk tahun yang bersangkutan.** Perhitungan marjin laba bersih yang tercantum dalam laporan ini menggunakan laba (rugi) yang diatribusikan kepada Pemilik Entitas Induk.*** Beban keuangan yang tercantum dalam Laporan ini tanpa (rugi) selisih kurs atas pinjaman.

Sebagai tambahan informasi pada kinerja Laba Rugi dan Penghasilan Komprehensif lain yang telah disajikan pada tabel di atas, Perseroan juga mendistribusikan nilai ekonomi langsung berupa dividen tahun buku 2018 yang dibagikan di tahun 2019 senilai Rp69 Miliar. Selain hal itu, Perseroan sebagai badan usaha tidak menerima bantuan dalam bentuk apapun dari Pemerintah.

PROFIT (LOSS) AND OTHER COMPREHENSIVE INCOME

* EBITDA of the Company in this report is calculated by adding profit with amortization and depreciation, for both that are recorded as costs of revenue, as well as expenses of the Company for the stated year.** The net profit margin in this report is calculated based on profit (loss) that is attributed to the Parent Company.*** Finance cost in this report is excluded gain (loss) on Foreign currency exchange of Loan.

In addition to information on the performance of Profit and Loss and other comprehensive income that has been presented in the table above, the Company also distributes direct economic value in the form of dividends for the 2018 fiscal year distributed in 2019 valued at Rp69 billion. Other than that, the Company as a business entity does not receive assistance in any form from the Government.


Pendapatan

Jumlah(Rp-juta I million)

Kontribusi(%)

Contribution

Jumlah(Rp-juta I million)

Kontribusi(%)

Contribution


Difference

Persentase(%)

Percentage

Jasa Distribusi dan Logistik EnergiEnergy Distribution and Logistic Services 4.364.089 52,0% 3.892.296 58,75% 471.793 12%

Jasa Hulu Migas TerintegrasiIntegrated Oil and Gas Upstream Services 3.847.015 45,9% 2.653.918 40,06% 1.193.097 45%

Jasa Penunjang MigasOil and Gas Supporting Services 988.663 11,8% 698.503 10,54% 290.160 42%

RekonsiliasiReconciliation (814.645) - (619.943) - (194.702) 31%

Jumlah PendapatanTotal Income 8.385.122 100,00% 6.624.774 100,00% 1.760.348 26,57%

Kontribusi terhadap PendapatanContribution to Revenue




40,1% 45,9%58,8% 52,0%

10,5% 10,8%

2018 2019

Pendapatan sebelum RekonsilisasiPerseroan berhasil membukukan pendapatan sebesar Rp8,3 triliun naik 26,57% dari Rp6,62 triliun pada 2018. Jasa Distribusi dan Logistik Energi memberi kontribusi pendapatan sebesar Rp4,3 triliun atau 52%, dan Jasa Hulu Migas sebesar Rp3,8 triliun atau 45,9% dan sisanya berasal dari Jasa Pendukung.

Peningkatan pendapatan Perseroan terutama didorong oleh keberhasilan Jasa Distribusi dan Logistik Energi meningkatkan kinerja operasinya. Bisnis BBM Inmar, Transportasi, dan Depo berhasil meningkatkan volume troughput penjualan BBM secara signifikan. Pendapatan unit bisnis BBM Inmar sebesar Rp1,69 triliun atau tumbuh 19% dari tahun lalu. Peningkatan tersebut berasal dari peningkatan rata-rata volume penjualan sebear 18.100 KL/bulan atau naik 24,0% dari tahun lalu. Peningkatan penjualan BBM Inmar terutama berasal dari area penjualan Kalimantan Timur dan Selatan, Sulawesi serta Sumatera.

Sepanjang tahun 2019 EPN adanya penambahan kontrak baru TBBM dan peningkatan volume fleet management BBM, untuk unit bisnis Depo, melakukan ekspansi bisnis antara lain dengan mengambil alih kelola Depot Liquified Petroleum Gas (LPG) Pressurized di Amurang, Minahasa Selatan. Di samping beberapa pengembangan project asset based lain yang terlaksana di tahun 2019 seperti Jobber Tanjung Pandan – Belitung, pembangunan SPPBE (Stasiun Pengangkutan & Pengisian Bulk LPG) Bima dan Nias, pembangunan Modular tank DPPU Lampung dan pembangunan Depo Antam – Halmahera Timur.

Revenue

Income Composition before ReconciliationThe Company managed to book revenue of Rp8.3 trillion, increased by 26.57% from Rp6.62 trillion in 2018. Energy Logistics and Distribution Services contributed revenue of Rp4.3 trillion or 52%, and Upstream Oil and Gas Services of Rp3.8 trillion or 45,9% and the rest comes from Support Services.

The increase in the Company's revenue was mainly driven bythe success of Energy Distribution and Logistics Services to improve the performance of its operations. The Inmar, Transportation, and Depo BBM business succeeded in significantly increasing the volume of fuel sales throughput. Inmar's BBM business unit revenue amounted to Rp1.69 trillion, growing by 19% from last year. The increase came from the increase in the average sales volume of 18,100 KL/month, increased by 24.0% from last year. The increase in Inmar's fuel sales mainly came from the sales areas of East and South Kalimantan, Sulawesi and Sumatera.

During 2019 EPN added new TBBM contracts and fuel fleet management volume increase, for the Depo business unit, to expand the business by taking over the management of the Pressurized Liquified Petroleum Gas (LPG) in Amurang, South Minahasa. In addition to several other asset-based project developments carried out in 2019 such as Tanjung Pandan - Belitung Jobber, construction of Bima and Nias SPPBE (Bulk LPG Filling & Transport Station), construction of Lampung DPPU Modular tanks and construction of the Antam - East Halmahera Depot.



Jasa Hulu Migas dengan kontribusi pendapatannya sebesar 45,0% didukung dari Divisi Production Operation & Maintenance Services (POMS), peningkatan utilisasi untuk peralatan Drilling Rig, H2S, Coiled Tubing, Slikline dan peralatan lainnya. Selain itu adanya peningkatan pada unit bisnis OM EPC dengan pertumbuhan 13 persen dari tahun sebelumnya. Untuk Divisi Geoscience and Reseirvoir Services (GRS) adanya peningkatan atas utilisasi peralatan baik di wilayah darat, transisi dan laut termasuk aktivitas processing.

Sementara itu pendapatan Jasa Penunjang juga mengalami peningkatan pendapatan sebesar 42% dibandingkan tahun 2018. Peningkatan pendapatan terutama berasal dari peningkatan pendapatan pada EFK adanya pekerjaan pembuatan Hydraulic Workover Unit serta peningkatan utilisasi Barge dan ELSA REGENT di tahun 2019.

Beban Pokok Pendapatan

(Dalam Jutaan Rupiah, kecuali Dinyatakan Lain) 2019 2018


(In Million Rupiah, unless Stated Otherwise)Selisih

(Rp-juta I million)Difference

Persentase(%)

Percentage

Jasa Subkontraktor 1.503.044 1.297.804 205.240 15,8 Sub-Contractor ServicesGaji, Upah dan Kesejahteraan karyawan 1.109.099 906.316 202.783 22,4 Salary, Wage, and Employee

BenefitsSewa 1.063.238 631.113 432.125 68,5 LeaseBahan Bakar 518.242 389.254 128.988 33,1 GasolinePenyusutan dan Amortisasi 426.174 378.816 47.358 12,5 Depreciation and AmortizationBahan Pembantu yang Digunakan 302.716 220.548 82.168 37,3 Additional Material UsedBiaya Lainnya 2.591.527 2.148.829 442.698 20,6 Other CostTotal Beban Pokok Pendapatan 7.514.040 5.972.680 1.541.360 25,8 Total Cost of Revenue

Beban pokok pendapatan 2019 naik 25,8% dibanding tahun 2018 lebih tinggi dari pertumbuhan pendapatan sebesar 26,5%. Jasa Subcontractor mayoritas adalah merupakan biaya atas pengelolaan kru seismic dan tenaga kerja yang ada di divisi GRS dan POMS untuk kebutuhan support kegiatan yang ada jasa hulu migas. Kenaikan pada sewa diiringi dengan peningkatan kegiatan operasional yang ada di kegiatan jasa hulu berupa sewa vessel atau barge dan peralatan lainnya. Begitu juga dengan peningkatan bahan bakar dan bahan pembantu lainnya. Untuk biaya lainnya termasuk biaya perlengkapan kantor, mobilisasi peralatan, tarnsportasi, perbaikan dan perawatan, utilitas dan lain lain.

Laba Bruto





Persentase(%)

Percentage

Jasa Distribusi dan Logistik Energi 454.489 383.950 70.579 18% Energy Distribution and Logistic Services

Jasa Hulu Migas Terintegrasi 268.535 153.761 114.774 75% Integrated Oil and Gas Upstream Services

Jasa Penunjang Migas 168.266 120.923 47.343 39% Oil and Gas Supporting Services

Rekonsiliasi (20.208) (6.540) (13.668) 209% Reconciliation

Total Laba Bruto 871.082 652.094 218.988 33,58% Total Gross Profit

Upstream Oil and Gas Services with a contribution of 45.0% was supported by the Production Operation & Maintenance Services (POMS) Division, increased utilization for Drilling Rig, H2S, Coiled Tubing, Slikline and other equipment. In addition there was an increase in the OM EPC business unit with 13 percent growth from the previous year. For the Geoscience and Research Services (GRS) Division, there has been an increase in equipment utilization in land, transition and sea areas, including processing activities.

Meanwhile Support Services revenue also experienced an increase in revenue of 42% compared to 2018. The increase in revenue mainly came from an increase in income at EFK for the work of making Hydraulic Workover Units as well as increased utilization of the Barge and ELSA REGENT in 2019.

Cost of Revenue

The cost of revenue in 2019 increased by 25.8% compared to 2018, higher than the revenue growth of 26.5%. The majority of subcontractor services are costs for managing seismic crews and workers in the GRS and POMS divisions to support the activities that support existing upstream oil and gas services. The increase in leases was accompanied by an increase in operational activities in upstream service activities in the form of vessel or barge rental and other equipment. Likewise with the increase in fuel and other auxiliary materials. Other costs include office equipment costs, equipment mobilization, transportation, repairs and maintenance, utilities and others.

Gross Profit


Dari kegiatan operasionalnya, Perseroan mencatat laba bruto sebesar Rp871,0 miliar di tahun 2019 atau mengalami peningkatan 33,58% dibandingkan dengan tahun 2018 atas sebesar Rp218,9 miliar. Segmen Jasa Hulu Migas memberikan kontribusi sebesar Rp268,5 miliar, yang diperolehan ini berasal dari Divisi POMS terutama dari bisnis HWU, DRS, EWL, WT, CMT yang bekerja optimal. Sementara itu bisnis GRS dengan adanya peningkatan utilisasi khususnya di unit bisnis GDL, GDM dan GDP. Sedangkan laba bruto dari segmen Jasa Distribusi dan Logistik Energi justru hanya mengalami kenaikan sebesar 18% didukung dengan peningkatan produktivitas pada pekerjaan Transportasi dan pengelolaan Depo. Untuk Segmen Jasa Penunjang Migas kenaikan di topang dari peningkatan produktivitas atas operasional yang ada di EFK dan ETSA.

Beban Usaha





Persentase(%)

Percentage

Beban Penjualan 4.180 2.579 1.601 62 Selling Expense

Beban Umum dan Administrasi 333.221 268.740 64.481 24 General and Administrative Expenses

Total Beban usaha 337.401 271.319 66.082 24 Total Operating Expenses

% Beban Usaha terhadap Penjualan 4,02% 4,10% (0,07)% (1,75) % Operating Expenses to Revenues

Beban usaha terdiri dari dua komponen utama, yaitu beban penjualan, dan beban umum serta beban administrasi. Secara nominal, beban usaha konsolidasi mengalami kenaikan 24% seiring dengan pertumbuhan pendapatan sebesar 26,5%. Namun disisi lain jika kita bandingkan persentase beban usaha terhadap jumlah total penjualan, terjadi penurunan dari 4,10% tahun 2018 menjadi 4,02%. Penurunan persentase beban usaha Perseroan merupakan dampak minimal yang dapat dilakukan Perseroan dalam menindak lanjuti kondisi industri migas saat ini.

Laba sebelum Beban Bunga, Pajak, Depresiasi dan Amortisasi (EBITDA)





Persentase(%)

Percentage

Laba Operasional 533.681 380.775 152.906 40,2 Operating Profit

Beban Depresiasi 432.383 386.496 45.886 11,9 Depreciation Expenses

EBITDA 966.064 767.271 198.792 25,9 EBITDA

Persentase Depresiasi terhadap EBITDA 44,8% 50,4% (5,62)% (11,1) Percentage of Depreciation to

EBITDAPersentase Laba Operasional terhadap Pendapatan 6,4% 5,75% 0,62% 10,7 Percentage of Operational Profit to

RevenuesPersentase EBITDA terhadap Pendapatan 11,5% 11,6% (0,06)% (0,5) Pendapatan Percentage of EBITDA to

Revenues

From its operational activities, the Company recorded a gross profit of Rp871.0 billion in 2019 or an increase of 33.58% compared to 2018 of Rp218.9 billion. The Upstream Oil and Gas Services segment contributed Rp268.5 billion, which was obtained from the POMS Division mainly from the HWU, DRS, EWL, WT, CMT businesses that worked optimally. Meanwhile GRS business with an increase in utilization, especially in the GDL, GDM and GDP business units. Whereas the gross profit from the Energy Distribution and Logistics Services segment actually only increased by 18% supported by increased productivity in Transportation and Depot management work. For the Oil and Gas Support Services Segment, there has been an increase in support from increased productivity of existing operations at EFK and ETSA.

Operating Expenses

Operating expenses consist of two main components, namely sales expenses and general and administrative expenses. Nominally, consolidated operating expenses increased by 24% in line with revenue growth of 26.5%. But on the other hand if we compare the percentage of operating expenses to the total sales, there is a decrease from 4.10% in 2018 to 4.02%. The reduction in the percentage of the Company's operating expenses is the minimum impact that the Company can do in following up on the current condition of the oil and gas industry.

Earning before Interest, Tax, Depreciation, and Amortization (EBITDA)



EBITDA Perseroan naik sebesar 25,9% dari tahun 2018, sedangkan margin EBITDA terhadap pendapatan turun dari 11,6% menjadi 11,5% pada tahun 2019. Di sisi lain beban depresiasi mengalami kenaikan 11,9% dimana persentase beban depresiasi terhadap EBITDA penurunan sebesar 11,1% pada tahun 2018. Kenaikan laba operasi dipicu didorong dari kenaikan penapatan, seperti yang dibahas sebelumnya. Sehingga dapat disimpulkan kinerja EBITDA pada tahun 2019 ini ditopang oleh profitabilitas dari kegiatan operasi sedangkan beban depresiasi dari realisasi investasi aset baru maupun depresiasi dari aset lama mengalami penurunan jika dibandingkan dengan tahun 2018.

Pendapatan (Beban) Lain-Lain





Persentase(%)

Percentage

Laba (Rugi) Penjualan Aset Tetap 917 (1.324) 2.241 (169,3) Gain (Loss) on Sales of Assets

Penghasilan Bunga 17.093 18.605 (1.512) (8,1) Interest Income

Beban Bunga (57.120) (40.296) 16.824 41,8 Interest Expense

Laba (Rugi) Selisih Kurs (16.874) (7.848) (9.026) 115,0 Gain (Loss) on Foreign Exchange

Lain-Lain Netto 16.882 26.906 (26.653) (37,3) Others - Net

Jumlah Pendapatan (Beban) Lain-Lain (39.102) (3.957) (35.145) 888,1 Total Other Income (Expenses)

Pendapatan (Beban) Lain-Lain terhadap Laba Bersih (10,97)% (1,43)% (9,54)% 665,9 Total Other Income (Expenses) to

Net Profit

Pendapatan lain-lain tahun 2019 secara kumulatif masih mengalami kerugian sebesar Rp39,1 miliar, lebih besar dibandingkan dengan tahun 2018. Komponen terbesar dari biaya tersebut didominasi dari beban bunga dan adanya kerugian atas selisih kurs.

Laba Bersih dan Marjin Laba Bersih





Persentase(%)

Percentage

Jasa Distribusi dan Logistik Energi 271.340 235.722 35.618 15,1 Energy Distribution and Logistic Services

Jasa Hulu Migas Terintegrasi 4.309 (23.887) 28.196 118,0 Integrated Oil and Gas Upstream Services

Jasa Penunjang Migas 92.113 59.207 32.906 55,6 Oil and Gas Supporting Services

Rekonsiliasi (11.285) 5.274 (16.559) (313,9) Reconciliation

Jumlah Laba bersih Tahun Berjalan 356.477 276.316 80.161 29,0 Total Net Profit for the Year

Net Profit Margin 4,3% 4,2% 0,08% 1,9 Net Profit Margin

Laba bersih Perseroan mengalami pertumbuhan sebesar 29% dari Rp276,3 miliar pada tahun 2018 menjadi Rp356,4 miliar pada tahun 2019. Pertumbuhan laba bersih ini terkait dengan pertumbuhan pendapatan sebesar 26,5%. Pertumbuhan laba bersih terutama berasal dari segmen Jasa Logistik dan Distribusi Energi sebesar Rp271,3 miliar atau tumbuh 15,1% dari tahun 2018, Jasa penunjang migas sebesar Rp32,9 miliar atau tumbuh 55,6%. Sementara itu Jasa Hulu Migas pertumbuhan Rp28,1 miliar atau naik 118% dari tahun 2018.

The Company's EBITDA increased by 25.9% from 2018, while the EBITDA margin to revenue decreased from 11.6% to 11.5% in 2019. On the other hand, depreciation expense increased by 11.9% where the percentage of depreciation expense towards EBITDA decreased by 11.1% in 2018. The increase in operating profit was driven by an increase in revenue, as discussed earlier. So it can be concluded that the performance of EBITDA in 2019 is supported by the profitability of operating activities while the depreciation expenses of the realization of investment in new assets and depreciation of old assets has decreased compared to 2018.

Other Income (Expenses)

Other income in 2019 cumulatively still suffered a loss of Rp39.1 billion, greater than in 2018. The largest component of these costs was dominated by interest expense and losses on foreign exchange.

Net Profit and Net Profit Margin

The Company's net profit grew by 29% from Rp80.1 billion in 2018 to Rp356.4 billion in 2019. The growth in net profit was related to revenue growth of 26.5%. The net profit growth was mainly derived from the Logistics Services and Energy Distribution segment amounting to Rp271.3 billion or growing 15.1% from 2018, oil and gas supporting services amounting to Rp32.9 billion or growing 55.6%. Meanwhile, Upstream Oil and Gas Services grew Rp28.1 billion, increased by 118% from 2018.


ARUS KAS KONSOLIDASIAN

Saldo Kas dan Setara Kas di akhir tahun 2019 tercatat sebesar Rp856 miliar, mengalami kenaikan 19% dibandingkan tahun 2018 yang sebesar Rp719 miliar Adanya kenaikan Saldo Kas dan Setara Kas Perusahaan terutama dari aktivitas operasi, dan aktivitas pendanaanCash Balance and Cash Equivalents at the end of 2019 was recorded at Rp856 billion, an increase of 19% compared to 2018 which amounted to Rp719 billion. There was an increase in the Company’s Cash and Cash Equivalents mainly from operating activities, and funding activities





Difference

Persentase(%)

PercentageKas neto yang Diperoleh dari Aktivitas Operasi 575.797 344.756 231.041 67 Net Cash Provided by

Operating ActivitiesKas Neto yang Digunakanuntuk dari Aktivitas Investasi (671.113) (586.671) (84.443) 14 Net Cash Used in Investing

ActivitiesKas Neto yang Digunakanuntuk Aktivitas Pendanaan 239.286 37.374 201.911 540 Net Cash Used in Financing

Activities

Dampak Perubahan SelisihKurs terhadap dan Setara Kas (7.305) 21.435 (28.739) 134

Effect of Exchange Rate Changes on Cash and Cash

EquivalentKenaikan (Penurunan) NetoKas dan Setara Kas 136.665 (183.106) 319.769 175 Net Increase (Decrease) in

Cash and Cash EquivalentKas dan Setara Kas pada AwalTahun 719.457 902.563 (183.105) 20 Cash and Cash Equivalent at

the Beginning of the YearKas dan Setara Kas pada AkhirTahun 856.122 719.457 136.664 19 Cash and Cash Equivalent at

the End of the Year

Posisi kas dan setara kas pada akhir tahun 2019 mengalami kenaikan sebesar 19% dari tahun 2018 sebesar Rp719,4 miliar menjadi Rp856,1 di tahun 2019. Kenaikan kas dan setara kas ini terutama karena kenaikan kas dari aktivitas operasi sebesar Rp231 miliar, dan juga arus kas dari aktivitas pendanaan meningkat sebesar Rp201,9 miliar atas penambahan pendanaan. Sementara itu arus kas untuk aktivitas investasi mengalami kenaikan sebesar 14% dari tahun 2018 sebesar Rp586,6 miliar menjadi Rp671 miliar di tahun 2019 karena peningkatan pembelian barang investasi sebesar Rp84 miliar dibandingkan tahun 2018.

CAS.H. FLOWS CONSOLIDATION

The position of cash and cash equivalents at the end of 2019 increased by 19% from 2018 amounting to Rp719.4 billion to Rp856.1 in 2019. The increase in cash and cash equivalents was mainly due to an increase in cash from operating activities of Rp231 billion, and also cash flo from funding activities increased by Rp201.9 billion due to additional funding. Meanwhile cash flow for investment activities increased by 14% from 2018 amounting to Rp586.6 billion to Rp671 billion in 2019 due to an increase in purchases of investment goods by Rp84 billion compared to 2018.



Arus Kas dari Aktivitas Operasi

Uraian2019

(Rp-juta I million)




Difference

Persentase(%)

PercentagePenerimaan Kas dari Pelanggan 8.010.747 6.458.067 1.552.680 24 Receipts from Customers

Pembayaran Kas kepada Pemasok, Kontraktor dan Karyawan

(7.687.671) (5.957.933) (1.729.738) 29 Cash Payments to Suppliers and Contractors

Penerimaan Penghasilan Bunga 16.486 19.345 (2.859) 15 Receipts of Interest Income

Pembayaran Beban Keuangan (60.015) (46.504) (13.512) 29 Payment of Finance CostPenerimaan Restitusi Pajak 525.037 78.625 446.412 568 Receipts of Tax RefundPembayaran Pajak (234.300) (214.552) (19.748) 9 Payments of TaxesPenerimaan atas Aktivitas Operasi Lainnya – Bersih 5.513 7.708 (2.195) 28 Other Receipts from Operating

Activities - NetKas Neto Diperoleh dari (Digunakan untuk) Aktivitas Operasi

575.797 344.756 231.041 67 Net Cash Provided by Operating Activities

Kas bersih yang diperoleh dari kegiatan operasi mengalami kenaikan 67% dari Rp344,7 miliar di tahun 2018 menjadi Rp575,7 miliar pada 2019. Peningkatan ini terutama disebabkan oleh kenaikan penerimaan kas dari pelanggan sebesar 24% dari Rp6,4 triliun di tahun 2018 menjadi Rp8 triliun di tahun 2019 seiring dengan peningkatan pendapatan usaha. Dan juga peningkatan terbesar dari peneriman restitusi pajak sebesar 568% dari Rp78,6 miliar di tahun 2018 menjadi Rp525 miliar pada 2019. Di sisi lain pembayaran kas kepada pemasok, kontraktor dan karyawan juga mengalami peningkatan sebesar 29%, dan juga peningkatan beban keuangan juga meningkat sebesar 29% seiringan dengan peningkatan jumlah pinjaman di tahun 2019.

Arus Kas dari Aktivitas Investasi

Uraian2019

(Rp-juta I million)




Difference

Persentase(%)

PercentagePembelian Aset Tetap (337.718) (526.730) 189.012 36 Purchase of Fixed AssetsPenerimaan dari Penjualan Aset Tetap 3.305 2.348 957 41 Proceeds from Sale of Fixed Assets

Pembelian Aset Tak Berwujud (2.269) (11.674) 9.405 81 Purchase of Intangible AssetsPembelian Barang Konsumsi Tahan Lama (29.611) (38.578) 8.967 23 Purchase of Long Life Consumable

GoodsPembelian Aset Lain-Lain 1.500 2.100 (600) 29 Purchase of Other AssetsPenerimaan Dividen Kas dari Perusahaan Asosiasi 1.500 2.100 (600) (29) Proceeds of Cash Dividens from

Association CompanyPenambahan Investasi diEntitas Anak 5.750 (612) 6.362 1.040 Addition of Investment in

SusbsidiaryKas Neto Diperoleh dari (Digunakan untuk) Aktivitas Investasi

(671.113) (586.671) (84.443) 14 Net Cash Obtained (Used) from Investing Activities

Pembelian Aset Tetap untuk Piutang Sewa Pembiayaan (236.992) (9.955) 227.037 23 Purchase of Fixed Assets for

Finance LeasePembayaran Uang Muka Pembelian Aset Tetap (35.078) (2.570) 32.508) 13 Payments for advance for Fixed

AssetsPenambahan Investasi di Entitas Anak - (1.000) (1.000) 100 Addition of Investment in

Subsidiary

Cash Flow from Operating Activities

Net cash obtained from operating activities increased 67% from Rp344.7 billion in 2018 to Rp575.7 billion in 2019. This increase was mainly due to an increase in cash receipts from customers by 24% from Rp6.4 trillion in 2018 to Rp8 trillion in 2019 along with the increase in operating revenues and the biggest increase from receiving tax refunds by 568% from Rp78.6 billion in 2018 to Rp525 billion in 2019. On the other hand, cash payments to suppliers, contractors and employees also increased by 29%, and also an increase in finance costs by 29% in line with the increase in the number of loans in 2019.

Cash Flow from Investing Activities


Arus kas bersih yang digunakan untuk aktivitas investasi mengalami kenaikan 14% dari Rp568,6 miliar di tahun 2018 menjadi Rp671,1 miliar pada 2019. Pengeluaran untuk pembelian aset tetap mengalami kenaikan sebesar 20% dari tahun 2018. Pembelian aset terbesar perseroan di sektor hilir yaitu pembelian Depo LPG Amurang nilai investasi sebesar Rp228,2 miliar, pembuatan mobil tangki sebesar Rp44,3 miliar, dan di sektor hulu yaitu Pembelian Hydraulic Workover – EHR13 untuk POMS sebesar Rp95,1 miliar dan replacement Peripheral Seismic untuk GRS sebesar Rp54,2 miliar.

Arus Kas dari Aktivitas Pendanaan

Uraian2019

(Rp-juta I million)




Difference

Persentase(%)

PercentagePenerimaan Pinjaman Bank 2.196.382 1.437.165 759.216 53 Proceeds from Bank LoansPembayaran Pinjaman Bank (1.869.410) (1.358.273) (511.138) 38 Payments of Bank LoansPembayaran Dividen Kas (69.079) (37.071) (32.009) 86 Payments of Cash Dividends Penarikan Kas yang dibatasi Penggunaannya – Neto (18.607) (4.447) (14.159) 318 Withdrawal of Restricted Cash

Kas Neto Diperoleh dari (Digunakan untuk) Aktivitas Pendanaan

239.286 37.374 201.911 540 Net Cash Used in Financing Activities

Pada tahun 2019 strategi pendanaan Perseroan fokus strategi pembiayaan dengan menggunakan pinjaman jangka panjang. Dan juga Perseroan terus melakukan strategi pendanaan yang lebih efektif dan murah dengan mengkombinasikan pinjaman jangka pendak dan jangka panjang.

Pada tahun 2019 terjadi kenaikan pinjaman bank sebesar 53% dari Rp1,43 triliun pada tahun 2018 menjadi Rp2,19 triliun pada tahun 2018. Perseroan memperoleh pinjaman bank jangka panjang dari Sindikasi (SMBCI, MUFJ, UOB, dan ICBC) sebesar Rp707,9 Miliar dan pinjaman bank janga pendek yang berasal dari bank ICBC, UOB, BRI, SMBCI, Mizuho, BNI, dan UOB sebesar Rp1,4 triliun. Seiringan dengan kenaikan pembayaran pinjaman bank sebesar 38% dari Rp1,35 triliun pada tahun 2019 menjadi Rp1,86 triliun pada tahun 2018 Perseroan juga melakukan pembayaran pinjaman bank sebesar Rp1,86 triliun yaitu cicilan pinjaman jangka panjang Sindikasi sebesar Rp88,5 miliar, dan pinjaman bank jangka pendek seperti UOB, BRI, SMBCI, ICBC, BNI Syariah, BNI dan UOB sebesar Rp1,7 triliun.

Selain itu Pada tahun 2019, sesuai dengan keputusan Rapat Umum Pemegang Saham Tahun Buku 2018, Perusahaan mendistribusikan sebesar 25% dari total laba tahun berjalan setelah pajak tahun buku 2018 atau setara dengan Rp69 miliar untuk pembayaran dividen bagi pemegang saham.

Net cash flow used in investing activities increased by 14% from Rp568.6 billion in 2018 to Rp671.1 billion in 2019. Spending on fixed asset purchases increased by 20% from 2018. The Company's largest asset purchase in the downstream sector is the purchase of the Amurang LPG Depot with an investment value of Rp228.2 billion, the manufacture of a tanker car of Rp44.3 billion, and in the upstream sector, namely the Purchase of Hydraulic Workover - EHR13 for POMS of Rp95.1 billion and the Peripheral Seismic replacement for GRS of Rp54.2 billion.

Cash Flow from Financing Activities

In 2019 the Company's funding strategy will focus on financing strategies using long-term loans. And also the Company continues to carry out more effective and inexpensive funding strategies by combining short-term and long-term loans.

In 2019 there was an increase in bank loans by 53% from Rp1.43 trillion in 2018 to Rp2.19 trillion in 2018. The Company obtained long-term bank loans from Syndication (SMBCI, MUFJ, UOB, and ICBC) of Rp707.9 billion and short-term bank loans originating from ICBC, UOB, BRI, SMBCI, Mizuho, BNI and UOB banks amounting to Rp1.4 trillion. In line with the increase in bank loan payments by 38% from Rp1.35 trillion in 2019 to Rp1.86 trillion in 2018 the Company also made bank loan payments of Rp1.86 trillion, namely Syndicated long-term loan installments of Rp88.5 billion, and short-term bank loans such as UOB, BRI, SMBCI, ICBC, BNI Syariah, BNI and UOB in the amount of Rp1.7 trillion.

In 2019, in accordance with the decision of the General Meeting of Shareholders for Fiscal Year 2018, the Company distributed 25% of the total profit for the current year after 2018 tax year or equivalent to Rp69 billion for dividend payments for shareholders.



KINERJA RASIO KEUANGAN, KOLEKTIBILITAS PIUTANG DAN KEMAMPUAN MEMBAYAR HUTANGThe Financial Ratio Performance, Receivable Collectivity and Abil ity to Repay Loans

UraianDescription

SatuanUnit 2019 2018


SelisihDifference

Persentase(%)

PercentageRasio ProfitabilitasProfitability RatioMarjin Laba BrutoGross Profit Margin % 10,39% 9,84% 0,55% -5,5

Marjin Laba OperasiOperatin Profit Margin % 6,36% 5,75% 0,62% -10,7

Marjin Laba BersihNet Profit Margin % 4,25% 4,17% 0,08% -1,9

Rasio Laba Bersih terhadap AsetReturn on Assets % 5,24% 4,88% 0,35% -7,3

Rasio Laba Bersih terhadap EkuitasReturn of Equity % 9,97% 8,37% 1,59% -19,0

Rasio LikuiditasCash RatioRasio KasCash Ratio

kalitimes 0,34 0,34 0,00 -0,6

Rasio LancarCurrent Ratio

kalitimes 1,48 1,49 (0,02) 1,0

Rasio SolvabilitasSolvability RatioRasio Liabilitas terhadap EkuitasDebt to Equity Ratio

kalitimes 0,32 0,25 0,07 26,6

Rasio Liabilitas terhadap AsetDebt to Liabilities Ratio

kalitimes 0,17 0,15 0,02 14,1

Debt Services Coverage Ratio kalitimes 6,59 4,29 2,30 53,6

Kolektibilitas PiutangReceivables CollectivityPeriode Rata-Rata Tertagihnya Piutang UsahaAverage Period of Receivables Collectability

haridays 91,0 86,6 4,37 5,0

Perputaran PersediaanInventory Turn OverPeriode Rata-Rata Perputaran PersediaanAverage Period of Inventory Turn Over

haridays 9,28 9,20 0,08 0,9

Perputaran AssetAsset Turn OverPeriode Rata-Rata Perputaran AssetAverage Period of Asset Turn Over

haridays 123,2 117,1 6,12 5,2

Kinerja Perseroan berdasarkan Marjin profitabilitas untuk mengukur kemampuan Perseroan dalam menghasilkan laba menunjukkan penaikan atau perbaikan baik secara nominal maupun marjin profitabilitas , hal ini di dorong dari peningkatan produktivitas yang ada di asset, di segmen Jasa Hulu migas, maupun penunjang migas. Selain itu adanya pertumbuhan profitability memalui produksi atau volume penjualan yang ada di segmen distribusi dan logistik.

Rasio likuiditas berdasarkan data rasio kas menunjukkan penurunan yang relatif sedikit, hal ini disebabkan ada nya pekerjaan yang membutuhkan modal kerja di awal dimana proses penagihan nya berdasarkan volume atau progres pekerjaan seperti yang ada di bisnis OM EPC. Hal ini juga terlihat pada rasio kolektibilitas piutang.

Rasio Solvabilitas menunjukkan peningkatan dengan bertambahnya pinjaman dari bank yang digunakan untuk kegiatan operasional Perseroan dan Pembiayaan Investasi. Dimana rasio tersebut masih di bawah batas toleransi atau maksimal yang di syaratkan oleh pihak bank.

The Company's performance based on profitability margins to measure the ability of the Company to generate profits shows an increase or improvement both in nominal terms and profitability margins, this is driven from an increase in productivity in assets, in the Upstream oil and gas services segment, and oil and gas support. In addition there is a growth in profitability through production or sales volume in the distribution and logistics segments.

The liquidity ratio based on cash ratio data shows a relatively slight decrease, this is due to jobs that require working capital in the beginning where the billing process is based on volume or progress of work as in the OM EPC business. This is also seen in the receivables collectability ratio.

The Solvency Ratio shows an increase with the increase in loans from banks used for the Company's operational activities and Investment Financing. Where the ratio is still below the tolerance limit or the maximum required by the bank.


CAPITAL STRUCTURE AND MANAGEMENT POLICY ON CAPITAL STRUCTURE

COMPANY'S CAPITAL STRUCTURE

The Company manages capital to protect its ability to maintain business continuity through an optimal capital structure by reducing capital costs. Capital consists of a number of equity components that are a balance between the use of own capital with loans/debt.

The Company's capital structure is more dominated by its own capital compared to liabilities with the interest bearing debt to equity ratio calculated to total debt (bank loans) to total equity, while the interest bearing debt to EBITDA ratio is calculated to total EBITDA. The ratio of liabilities to equity is calculated based on total liabilities compared to net equity. Debt repayment ratios are calculated based on profit before tax, interest, depreciation and amortization less dividends on loan principal and interest payments, but do not include accelerated repayment.

STRUKTUR MODAL DAN KEBIJAKAN MANAJEMEN ATAS STRUKTUR MODAL

Capital Structure and Management Policy on Capital Structure

STRUKTUR MODAL DAN KEBIJAKAN MANAJEMEN ATAS STRUKTUR MODAL

STRUKTUR MODAL PERUSAHAAN

Struktur Modal dan PerubahannyaCapital Structure and Changes

Struktur ModalCapital Structure


Jumlah(Rp-juta)

(Rp-million)Total

Kontribusi(%)

Contribution

Jumlah(Rp-juta)

(Rp-million)

Kontribusi(%)

Contribution

Selisih(Rp-juta)

(Rp-millionDifference

Persentase(%)

Percentage

Total LiabilitasTotal Liabilities 3.228.339 47,44% 2.357.127 41,67 871.212,00 37,0

Liabilitas Jangka PendekCurrent Liabilities 2.504.335 36,80% 2.116.898 37,42 387.437,00 18,3

Liabilitas Jangka PanjangNon-current Liabilities 724.004 10,64% 240.229 4,25 483.775,00 201,4

Total EkuitasTotal Equity 3.576.698 52,56% 3.300.200 58,33 276.498,50 8,4

Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas IndukEquity Attributable to Owners of Parent

3.575.038 52,54% 3.298.495 58,30 276.543,50 8,4

Ekuitas yang Dapat Diatribusikan kepada Kepentingan Non-PengendaliEquity Attributable to Non-controlling Interest

1.660 0,02% 1.705 0,03 (45,00) (2,6)

Jumlah Liabilitas dan EkuitasTotal Liabilities and Equity 6.805.037 100,00% 5.657.327 100,00 1.147.710,50 20,3

Perseroan mengelola permodalan untuk melindungi kemampuannya dalam mempertahankan kelangsungan usaha melalui struktur permodalan yang optimal dengan mengurangi biaya modal. Modal terdiri dari sejumlah komponen ekuitas yang merupakan perimbangan antara penggunaan modal sendiri dengan pinjaman/hutang.

Struktur modal Perseroan lebih didominasi oleh modal sendiri dibandingkan dengan liabilitas dengan. Rasio interest bearing debt to equity dihitung terhadap total seluruh utang (pinjaman bank) terhadap total ekuitas, sementara itu rasio interest bearing debt to EBITDA dihitung terhadap total EBITDA. Rasio liabilitas terhadap ekuitas dihitung berdasarkan total liabilitas dibandingkan dengan ekuitas neto. Rasio pengembalian utang dihitung berdasarkan laba sebelum pajak, bunga, penyusutan dan amortisasi dikurangi dividen terhadap pembayaran pokok pinjaman dan bunga, namun tidak termasuk pelunasan yang dipercepat.



Kebijakan Manajemen atas Struktur Modal PerusahaanPengelolaan modal dimaksudkan untuk mempertahankan kelangsungan usaha dan memberikan imbal hasil usaha yang maksimal kepada para pemangku kepentingan dengan menjaga struktur modal yang optimal yang meliputi utang dan ekuitas untuk mengurangi biaya modal.

Perseroan memiliki kebijakan untuk mempertahankan basis modal yang kuat sebagai dasar pemilihan kebijakan manajemen atas struktur modal dengan mempertimbangkan kondisi bisnis, tingkat pengembalian modal serta dividen yang dibagikan. Perseroan memonitor permodalan berdasarkan rasio jumlah liabilitas terhadap ekuitas pada kisaran 30% : 70%.

Kebijakan struktur modal Perseroan juga mengikuti rasio yang disyaratkan oleh kreditur. Kondisi industri migas juga menjadi pertimbangan Perseroan dalam menentukan kebijakan struktur modalnya. Kondisi industri migas yang sedang anjlok membuat manajemen lebih mengutamakan permodalan Perseroan menggunakan ekuitas walaupun secara rasio keuangan Perseroan masih sangat baik dalam posisi net cash. Penggunaan ekuitas ini sebagai merupakan strategi Perseroan untuk mengurangi beban keuangan dan memanfaatkan likuiditas Perseroan.

Grup disyaratkan oleh Undang-Undang No. 40 tahun 2007 tentang Perseroan Terbatas untuk mengalokasikan dana cadangan yang tidak boleh didistribusikan sampai dengan 20% dari modal saham ditempatkan dan disetor penuh. Persayaratan permodalan eksternal tersebut dipertimbangkan oleh Perseroan dalam Rapat Umum Pemegang Saham. Perseroan dan anak perusahaan dipersyaratkan untuk memelihara tingkat permodalan tertentu oleh perjanjian pinjaman bank. Perseroan juga memiliki kebijakan dan strategi untuk mempertahankan rasio utang terhadap ekuitas maksimal sebesar 3 kali dan rasio pengembalian utang minimal sebesar 1,1 kali.

Management Policy for the Company's Capital StructureCapital management is intended to maintain business continuity and provide maximum business returns to stakeholders by maintaining an optimal capital structure which includes debt and equity to reduce capital costs.

The Company has a policy to maintain a strong capital base as a basis for selecting management policies on capital structure by considering business conditions, return on capital and dividends distributed. The Company monitors capital based on the ratio of total liabilities to equity in the range of 30%: 70%.

The Company's capital structure policy also follows the ratios required by creditors. The condition of the oil and gas industry is also a consideration of the Company in determining its capital structure policy. The condition of the oil and gas industry which is falling makes management prioritize the Company's capital to use equity even though the Company's financial ratio is still very good in its net cash position. The use of this equity is a strategy of the Company to reduce financial costs and utilize the Company's liquidity.

Groups are required by Law No. 40 of 2007 concerning Limited Liability Companies to allocate reserve funds that may not be distributed up to 20% of the issued and fully paid capital stock. The external capital requirements are considered by the Company in the General Meeting of Shareholders. The Company and its subsidiaries are required to maintain a certain level of capital by a bank loan agreement. The Company also has policies and strategies to maintain a maximum debt to equity ratio of 3 times and a minimum debt return ratio of 1.1 times.


IKATAN YANG MATERIAL UNTUK INVESTASI BARANG MODALMaterial Commitments for Investment of Capital Goods

Selama tahun 2019 Perseroan tidak mempunyai ikatan material untuk investasi barang modal dengan pihak lain selain dalam rangka pendanaan barang modal yang diperlukan untuk investasi peralatan operasi. Perseroan melakukan beberapa perjanjian perikatan pembiayaan terkait investasi barang modal dengan para kreditur: PT Bank Sumitomo Mitsui Indonesia, PT Bank ICBC Indonesia, PT Bank Mizuho Indonesia, PT Bank UOB Indonesia, Pinjaman Sindikasi (Bank Sumitomo Mitsui Indonesia).

Throughout 2019, the Company did not have a material bond for investment in capital goods with other parties other than in the framework of funding capital goods needed for investment in operating equipment. The Company entered into several financing agreement related to capital goods investment with creditors: PT Bank Sumitomo Mitsui Indonesia, PT Bank ICBC Indonesia, PT Bank Mizuho Indonesia, PT Bank UOB Indonesia, Syndicated Loans (Bank Sumitomo Mitsui Indonesia).



REALISASI INVESTASI BARANG MODALRealization of Investment in Capital Goods

Investasi Barang ModalInvestment of Capital Goods

Nilai 2019(Rp-juta)

(Rp-millionValue 2019

Nilai 2018(Rp-juta)

(Rp-million)Value 2018

Kenaikan (Penurunan)

(%)Increase (Decrease)

Upstream 220.175 339.458 (35)Production Operation & Maintenance Services (POMS) 153.622 44.587 245Geoscience & Reservoir Services (GRS) 66.553 294.872 (77)

Distribution & Logistics 436.991 113.034 287PT Elnusa Petrofin (EPN) 436.991 113.034 287

Support 30.851 91.501 (35)PT Patra Nusa Data (PND) 5.036 242 1980PT Sigma Cipta Utama (SCU) 4.673 14.517 (68)PT Elnusa Trans Samudera (ETSA) 20.929 30.721 (32)PT Elnusa Fabrikasi Konstrukdi (EFK) 212 1.927 (89)

Shared Services 17.191 44.094 (61)KonsolidasiConsolidation 705.208 543.994 30

Pada tahun 2019, pengeluaran Perseroan untuk investasi barang modal sebesar Rp705,2 miliar. Realisasi investasi ini naik sebesar 19% dibandingkan tahun lalu sebesar Rp589,5 miliar. Pembelian barang modal selama tahun 2019 ini, sebesar 79% digunakan untuk pengembangan bisnis Perseroan, 21% digunakan untuk investasi yang bersifat rutin guna mempertahankan kapasitas produksi, mengganti peralatan yang sudah tidak produktif atau telah habis masa ekonomisnya dan sisanya digunakan untuk pembenahan fasilitas gedung kantor.

Pembelian barang modal untuk pengembangan bisnis Perseroan selama tahun 2019 sebagian besar digunakan untuk pengembangan bisnis hilir yakni pengelolaan Depo LPG, Penambahan kapasitas peralatan Hydraulic Workover unit dan Mudlogging. Untuk mempertahankan kapasitas produksi, yakni penggantian peralatan seismic dan perbaikan seismic vessel.

Selain untuk pengembangan bisnis Perseroan, investasi barang modal juga digunakan untuk revitalisasi dan penggantian peralatan yang sudah tidak produktif atau telah habis masa ekonomisnya terutama pada Divisi POMS dan GRS guna memenuhi kebutuhan pada beberapa proyek besar yang dikerjakan selama tahun 2019.

Beberapa investasi barang modal dengan nilai signifikan yang dilakukan Perseroan di tahun 2019 antara lain:

Investasi Barang ModalCapital Goods Investment

TujuanGoal

Nilai Investasi(Rp-juta)

Investment Value(Rp-million)

Depo LPG Amurang Peningkatan Kapasitas dan Ekspansi BisnisCapacity Boosting and Business Expansion 228.217

Hydraulic Workover - EHR 13 Peningkatan Kapasitas dan Ekspansi BisnisCapacity Boosting and Business Expansion 95.176

Replacement Peripheral Seismic Mempertahankan Kapasitas atau revitalisasi PeralatanMaintaining Capacity or Revitalizing Equipment 54.258

Mobil Tangki BBM Peningkatan Kapasitas dan Ekspansi BisnisCapacity Boosting and Business Expansion 44.315

In 2019, the Company’s expense for investment in capital goods was Rp705.2 billion. The realization of this investment increased by 19% as compared to the previous year, which was in the amount of Rp589.5 billion. The purchase of capital goods in 2019 were, 79% for the Company’s business expansionand 21% for routine investment to maintain production capacity, to replace equipment that are unproductive or that have no more economic value, and the rest for renovation of facilities in office building.

The purchase of capital goods for the expansion of Company’s business in 2019 is mainly used for the development of downstream businesses, namely the management of LPG Depots, additional capacity of Hydraulic Workover units and Mudlogging equipment. To maintain production capacity, namely replacement of seismic equipment and repair of seismic vessels.

Other than for the expansion of the Company’s business, investment in capital goods is also used to revitalize and replace equipment that are not productive or have been completely depreciated in POMS and GRS Divisions so as to fulfill the requirements of several extensive projects that are done in 2019.

Several investment on capital goods with siginificant values that the Company made in 2019 includes:


INFORMASI MATERIAL MENGENAI INVESTASI, EKSPANSI, DIVESTASI, PENGGABUNGAN USAHA, AKUISISI, DAN/

ATAU RESTRUKTURISASI UTANG/MODALMaterial Information Regarding Investment, Expansion, Divestment, Business Combinations,

Acquisitions, and/or Debt/Capital Restructuring

PERBANDINGAN ANTARA TARGET ANGGARAN DENGAN REALISASI, DAN PROYEKSI USAHA

Comparison between Budget Targets with Realization, and Business Projection

Perseroan tidak melakukan ekspansi, divestasi, pengabungan usaha, Akuisisi dan restrukturisasi utang/modal yang material selama tahun 2019.

The Company did not conduct expansion, divestation, merger, material acquisition/restructuring of debt/capital throughout 2019.

Manajemen menentukan proyeksi Pendapatan Usaha menggunakan asumsi-asumsi internal dan makro yang digunakan pada penyusunan anggaran tahun 2020, pergerakan harga minyak dunia diperkirakan akan mengalami perbaikan pada rentang harga USD50-60/barel. Namun disisi lain permintaan penurunan harga jual jasa hulu migas dan tarif transportasi BBM diperkirakan masih akan berlanjut pada tahun 2020. Pendapatan Perseroan diproyeksikan relatif hampir sama dengan tahun 2019, dengan kontributor pendapatan dari segmen jasa hulu migas terintetgrasi sebesar 47,9%, Jasa Distribusi dan Logistik Energi 49,5% dan sisanya dari Segmen Jasa Penunjang Migas.

Sementara itu, Laba Perseroan diproyeksikan selaras dengan kondisi industri migas tahun 2020 yang sudah mengalami perbaikan, maka Elnusa menargetkan margin laba bersih sebesar 4,9% pada tahun 2020, naik jika dibandingkan dengan tahun 2019 sebesar 4,26%. Perbaikan margin profitabilitas diharapkan terjadi pada bisnis seismik dimana diharapkan proyek Seismik laut/marine akan membukukan kinerja positif dengan peningkatan utilisasi peralatan, begitu juga dengan Divisi POMS diharapkan dapat lebih meningkatkan profitabilitas marginnya di tahun 2020 dengan perbaikan produktivitas khususnya untuk unit bisnis OM & EPC.

STRUKTUR MODAL Seiring dengan rencana dan proyeksi pertumbuhan tahun 2020. Perseroan membutuhkan investasi pada peralatan jasa hulu dan hilir migas yang sudah tentu memerlukan permodalan baik dari sumber liabilitas berupa pinjaman dari lembaga perbankan maupun dana internal (ekuitas). Laju pertumbuhan dan rencana investasi tersebut dijalankan dengan tetap menjaga struktur modal yang optimal.

Management determines the projected Operating Revenues using internal and macro assumptions used in the preparation of the 2020 budget, the price movements of wold oil are predicted to improve in the price range of USD50-60/barrel. But on the other hand the demand for a decrease in the selling price of upstream oil and gas services and fuel transportation rates is expected to continue in 2020. The Company's revenue is projected to be relatively similar to 2019, with revenue contributors from the integrated upstream oil and gas service segment of 47.9%, Energy Logistics and Distribution Services of 49.5% and the remaining is from the Oil and Gas Support Services Segment.

Meanwhile, the Company's profit is projected to be in line with the condition of the oil and gas industry in 2020 which has improved, therefore Elnusa is targeting a net profit margin of 4.9% in 2020, an increase of 4.26% compared to 2019. Improved profitability margins are expected to occur in the seismic business where it is expected that the marine/marine Seismic project will record positive performance by the increased equipment utilization, likewise, the POMS Division is expected to further increase its profitability in 2020 by improving productivity, especially for the OM & EPC business unit.

CAPITAL STRUCTUREWith the growth plan and project in 2019, the Company will need to make investment in the equipment for oil and gas upstream and downstream services that require capital from bank loans as well as internal financing (equity). The growth rate and the plan investment are made by considering the optimal capital structure.



Laba (Rugi) dan Penghasilan Komprehensif LainProfit (Loss) and Other Comprehensive Income

(Dalam jutaan Rupiah)(In Million Rupiah)

Realisasi 2019Realization

Target 2019Target

Pencapaian Realisasi terhadap

Target 2019(%)

Realization Achievement toward Target

Proyeksi 2020Projection

Proyeksi 2020 terhadap Realisasi

2019(%)

2020 Projection

toward 2019 Realization

Proyeksi 2020

terhadap Target 2019

(%)2020

Projection toward 2019

Realization

PendapatanRevenue 8.385.122 6.330.000 132 8.407.136 100 133

Jasa Distribusi dan Logistik EnergiEnergy Distribution and Logistics Services 4.364.089 3.804.741 115 4.165.842 95 109

Jasa Hulu Migas TerintegrasiIntegrated Upstream Oil and Gas Services 3.847.015 2.981.901 129 4.028.617 105 135

Jasa Penunjang MigasOil and Gas Support Services 988.663 595.320 166 944.574 96 159

Laba Bruto Gross Profit 871.082 774.457 112 1.035.490 119 134

Laba (Rugi) OperasiOperating Profit (Loss) 533.681 461.753 116 632.910 119 137

Laba (Rugi) Lain-LainOther Profit (Loss) (39.102) (81.710) 48 (87.446) 224 107

Laba (Rugi) Tahun BerjalanProfit (Loss) for the Current Year 356.477 280.178 127 408.866 115 146

Laba (Rugi) Komprehensif Tahun BerjalanComprehensive Income for the Current Year

345.625 280.178 123 408.866 118 146

Posisi Keuangan Konsolidasian dan Struktur ModalConsolidated Financial Position and Capital Structure

(Dalam jutaan Rupiah)(in Million Rupiah)

Realisasi 2019Realization

Target 2019Target

Pencapaian Realisasi terhadap

Target 2019(%)

Realization Achievement

toward 2019 Target

Proyeksi 2020Projection

Proyeksi 2020 terhadap

Realisasi 2019(%)

2020 Projection


Proyeksi 2020 terhadap

Target 2019(%)

2020 Projection


Aset lancarCurrent Assets 3.698.370 3.090.714 120 4.139.913 112 134

Aset TetapFixed Assets 1.819.321 1.982.193 92 2.972.400 163 150

Aset Lain-LainOther Assets 1.287.346 1.899.056 68 1.038.024 81 55

Total AsetTotal Assets 6.805.037 6.971.963 98 8.150.336 120 117

Liabilitas LancarCurrent Liabilities 2.504.335 1.489.719 168 2.465.523 98 166

Liabilitas Tidak LancarNon-current Liabilities 724.004 1.160.058 62 1.831.269 253 158

Total LiabilitasTotal Liabilities 3.228.339 2.649.777 122 4.296.793 133 162

Ekuitas Equity 3.576.698 4.325.426 83 3.853.544 108 89

Total Liabilitas dan EkuitasTotal Liabilities and Equity 6.805.037 6.971.963 98 8.150.336 120 117


INFORMASI DAN FAKTA MATERIAL YANG TERJADI SETELAH TANGGAL LAPORAN AKUNTAN

Information and Materil Facts that Occur After Balance Sheet Date

DAMPAK NILAI TUKAR MATA UANG ASINGImpact of Foreign Exchange Rates

Tidak ada peristiwa/kejadian atau fakta yang terjadi dan tergolong material setelah periode laporan keuangan perseroan.

There were no events or facts that occurred and were classified as material after the Company's financial reporting period.

Mata uang fungsional Grup adalah Rupiah. Grup dapat menghadapi risiko nilai tukar mata uang asing karena pinjaman, pendapatan dan biaya beberapa pembelian utamanya dalam mata uang Dolar AS atau harganya secara signifikan dipengaruhi oleh perubahan tolak ukur harganya dalam mata uang asing (terutama Dolar AS).

Grup tidak mempunyai kebijakan lindung nilai yang formal untuk laju pertukaran mata uang asing. Bagaimanapun, terkait dengan hal-hal yang telah didiskusikan pada paragraf di atas, fluktuasi dalam nilai tukar Rupiah dan Dolar AS menghasilkan lindung nilai natural untuk laju nilai tukar Grup.

The functional currency of the Group is Rupiah. The Group may face foreign exchange risk due to loans, income and costs of some of its principal purchases in US Dollars or the price is significantly affected by changes in its price benchmarks in foreign currencies (mainly US Dollars).

The Group has no formal hedging policy for the rate of exchange of foreign currencies. However, related to the matters discussed in the paragraph above, fluctuations in the exchange rates of Rupiah and US Dollar produce natural hedges for the rate of exchange of the Group.



The upstream oil and gas sector in 2019 did not experience a significant increase in activity, with the rise in ICP oil prices to the highest position in April 2019, at the price of USD68.31/barrel, but then corrected in August 2019 by 16.2% to the lowest position at a price of USD57.27/barrel. Then oil prices increased at the end of 2019 and in December reach the price of USD67.18/barrel.

Indonesia rate of replacement of oil reserves (RRR) in 2019 has reached 354%, or equivalent to 2.634 Mboe. The 2020 RRR is targeted at 100%. This condition can provide good potential for upstream oil and gas services.

Realization of oil and gas lifting throughout 2019 amounted to 1.8 million barrels of oil equivalent per day (BOPD). That means, the realization of oil and gas lifting was only able to reach 90.5% of the target in the 2019 state budget (APBN) of 2,025 million BOPD.

The realization of oil and gas investment in 2019 has reached USD11.49 Billion (SKK Migas, January 2020). When compared with 2018, oil and gas investment in 2018 has grown by 4%.

PROSPEK USAHABusiness Prospect

Sektor hulu migas di tahun 2019 tidak mengalami peningkatan aktivitas secara signifikan, adapun kenaikan harga minyak ICP ke posisi tertinggi di April 2019, dengan harga sebesar USD68,31/barel, namun kemudian terkoreksi di bulan Agustus 2019 yakni sebesar 16,2% ke posisi terendah dengan harga sebesar USD57,27/barel. Kemudian Harga minyak meningkat di akhir tahun 2019 hingga pada bulan Desember berada pada harga sebesar USD67,18/barel.

Rasio tingkat penggantian cadangan minyak (RRR) Indonesia pada tahun 2019 mengalami pencapaian sebesar 354% atau setara dengan 2.634 Mboe. RRR tahun 2020 ditargetkan sebesar 100%. Kondisi ini dapat memberikan potensi yang cukup baik bagi jasa hulu migas.

Realisasi lifting migas sepanjang 2019 sebesar 1,8 juta barel setara minyak per hari (BOPD). Artinya, realisasi lifting migas hanya mampu mencapai 90,5 persen dari target dalam Anggaran Pendapatan dan Belanja Negara (APBN) 2019 sebesar 2.025 juta BOPD.

Realisasi investasi migas tahun 2019 telah mencapai USD11,49 Miliar (SKK Migas, Jan 2020). Jika dibandingkan dengan tahun 2018, investasi migas tahun 2019 telah tumbuh 4%.

Investasi Hulu Migas (dalam Miliar US$) Upstream Oil and Gas Investment (in Billion US $)

DevelopmentAdministration Production Exploration

0,97 0,970,97 0,97 0,97

3,023,02

3,02 3,02 3,02

10,17

10,17

10,17 10,17 10,17

1,14 1,14

1,141,14

1,14

Sumber: SKK Migas Source: SKK Migas


Berikut perbandingan rencana aktivitas utama hulu migas 2020:

KegiatanActivity

SatuanUnit

Realisasi 20192020:

Rencana 20202020 Plan

% 2020 terhadap 2019% 2020 to 2019

Workover SumurWell 806 837 104

Well Service KegiatanActivity 29.405 28.163 96

Development Wells Drilling SumurWell 322 395 123

Exploration Wells Drilling SumurWell 36 61 169

Berdasarkan tabel di atas, rencana kegiatan di tahun 2020, menunjukan adanya pertumbuhan atau peningkatan dari kegiatan yang sudah di lakukan di tahun 2019.

Pada Jasa Distribusi dan Logistik Energi, Perseroan melalui anak perusahaan PT Elnusa Petrofin (EPN) merupakan rekanan Pertamina dalam bisnis distribusi dan transportasi bahan bakar minyak. Jasa ini menjadi kontributor terbesar pendapatan Perseroan sebesar 52,1%. Prospek jasa ini pada 2018 masih besar terkait peningkatan kebutuhan bahan bakar Industri dan kebutuhan bahan bakar untuk kendaraan bermotor terkait pertumbuhan kendaraan bermotor di Indonesia yang mencapai 5-7% per tahun. Kebutuhan BBM Industri dan retail juga diperkirakan sebesar 6-7% pertahunnya. Hal ini diperkuat dengan pembangunan infrastruktur yang terus digalakkan Pemerintah di berbagai daerah di Indonesia.

The following is a comparison of the main upstream oil and gas 2020 activity plans:

Based on the table above, the activity plan for 2020 shows the growth or increase of the activities that have been carried out in 2019.

In Energy Logistics and Distribution Services, the Company through its subsidiary PT Elnusa Petrofin (EPN) is Pertamina's partner in the distribution and transportation of fuel oil. This service is the largest contributor to the Company's revenue of 52.1%. The prospect of this service in 2018 is still large due to the increase in the industrial fuel demand fuel demand for motorized vehicles which relate to the growth of motor vehicles in Indonesia that reach 5-7% per year. Industrial and retail fuel demand are also estimated at 6-7% per year. This is reinforced by infrastructure development that continues to be encouraged by the Government in various regions in Indonesia.



ASPEK PEMASARANMarketing Aspect

Memiliki cakupan produk dan jasa yang lengkap dari hulu hingga ke hilir membuat Elnusa mampu memberikan solusi terhadap setiap kebutuhan pelanggan. Di Tahun 2019, efisiensi masih menjadi fokus para pelanggan di tambah dengan kondisi bisnis industri saat ini yang masih pasang surut, sehingga melakukan kajian dan memberikan perhatian yang lebih pada pertumbuhan pasar menjadi sangat penting untuk dilakukan. Berbagai strategi telah dilakukan untuk menaikan pangsa pasar sekaligus meningkatkan kapabilitas internal.

STRATEGI PEMASARANDalam rangka mewujudkan komitmen Perseroan sebagai perusahaan jasa terkemuka yang memberikan solusi total sehingga mampu menjangkau kebutuhan pelanggan lebih cepat, lebih baik, lebih terjangkau dan lebih dekat maka Perseroan melakukan beberapa langkah nyata, salah satunya adalah dengan adanya gak italic key account untuk pelanggan utama yaitu Pertamina EP, Pertamina Hulu Energi dan Pertamina Hulu Indonesia. Ketiga pelanggan ini adalah penyumbang pendapatan terbesar Elnusa sehingga dengan ada inisiatif ini, Perseroan dapat mempertahankan kinerja dan jasa yang berikan.

Strategi pemasaran berikutnya adalah memperkuat posisi pangsa pasar pada jasa non asset based yaitu Operation & Maintenance. Dengan semangat Total Solution, jasa yang diberikan tidak hanya mampu memenuhi kebutuhan pelanggan namun berhasil menjadi bagian tumbuhnya sebuah perusahaan. Selain fokus pada pelanggan yang sudah ada, Perseroan juga terus melakukan ekspansi untuk mendapatkan peluang baru dari perusahaan di industri non migas dimana Elnusa berhasil mendapatkan proyek jasa di sektor infrastruktur melalui salah satu bisnis unitnya yaitu Geoscience.

Strategi ketiga adalah sebuah langkah yang dimaksudkan untuk menjawab tuntutan akan kebutuhan teknologi tinggi, Perseroan menjalankan strategi partnership dengan produsen teknologi terkemuka dunia. Terbentuknya kerja sama dengan Schlumberger yang tertuang dalam Master Corporate Agreement dan Master Service Agreement dapat menjadi nilai tambah bagi masing-masing pihak. Kolaborasi ini dilakukan untuk menangkap peluang-peluang baru sehingga mampu menambah pangsa pasar Perseroan.

PANGSA PASARPertamina group masih menjadi penyumbang pendapatan terbesar bagi Perseroan, dengan komposisi 74% dari total pendapatan. Pada segmen jasa migas hulu pangsa pasar Perseroan naik menjadi 2,5% . Hal ini di dorong adanya penngkatan atas kegiatan pada asset based (jasa seismic) dan non Asset Based (OM EPC). berikut perbandingan estimasi pangsa pasar Perseroan.

2019 2018 2017

Investasi Hulu Migas Indonesia (Miliar dolar AS)Indonesian Upstream Oil and Gas Investment (Billion US Dollars) 11,49 11,00 10,26

Pendapatan Elnusa Segmen Hulu Migas Terintegrasi (Miliar dolar AS)Elnusa’s Revenue in the Upstream Oil and Gas Services (Billion US Dollar) 0,285 0,187 0,169

Estimasi Pangsa Pasar Estimated Market Share 2,5% 1,7% 1,6%

Having a complete range of products and services from upstream to downstream makes Elnusa able to provide solutions to every customer need. In 2019, efficiency is still the focus of the customers, coupled with the current condition of the industrial business which is still tidal, so conducting studies and giving more attention to market growth is very important to do. Various strategies have been carried out to increase market share while increasing internal capabilities.

MARKETING STRATEGYIn order to realize the Company's commitment as a leading service company that provides total solutions so as to be able to reach the needs of customers faster, better, more affordable and closer, the Company has taken several concrete steps, one of which is the key account initiative for key customers, namely Pertamina EP , Pertamina Hulu Energi and Pertamina Hulu Indonesia. These three customers are Elnusa's biggest revenue contributors so that with this initiative, the Company can maintain the performance and services it provides.

The next marketing strategy is to strengthen the market share position in non-asset based services, namely Operation & Maintenance. With the spirit of Total Solution, the services provided are not only able to meet customer needs but have become part of a growing company. In addition to focusing on existing customers, the Company also continues to expand to get new opportunities from companies in the non-oil and gas industry where Elnusa managed to get a service project in the infrastructure sector through one of its business units, Geoscience.

The third strategy is a step that is intended to answer the demands for high technology needs, the Company is implementing a partnership strategy with the world's leading technology producers. The establishment of cooperation with Schlumberger as set forth in the Master Corporate Agreement and Master Service Agreement can be an added value for each party. This collaboration is carried out to capture new opportunities so as to increase the Company's market share.

MARKET SHARE Pertamina group is still the biggest revenue contributor for the Company, with a composition of 74% of total revenue. In the upstream oil and gas service segment the Company's market share rose to 2.5%. This is driven by an increase in activities in asset based (seismic services) and non Asset Based (OM EPC). The following is a comparison of the Company's estimated market share.


KEBIJAKAN DIVIDEN DAN PEMBAGIANNYADividend Policy and Its Distribution

DASAR KEBIJAKAN PEMBAGIAN DIVIDEN

Sesuai dengan Prospektus Perseroan tahun 2008, Perseroan merencanakan dan berusaha untuk membagikan dividen dalam bentuk uang tunai sekurang-kurangnya sekali dalam setahun. Besarnya dividen dikaitkan dengan keuntungan Perseroan pada tahun buku yang bersangkutan, dengan tidak mengabaikan tingkat kesehatan Perseroan dan tanpa mengurangi hak dari Rapat Umum Pemegang Saham Perseroan untuk menentukan lain sesuai dengan ketentuan Anggaran Dasar Perseroan.

Dengan mengindahkan ketentuan-ketentuan di atas, Perseroan berusaha untuk mempertahankan rasio pembayaran dividen sekitar 20% dari laba bersih konsolidasi Perseroan untuk setiap tahunnya. Penentuan jumlah dan pembayaran dividen tersebut, akan bergantung pada rekomendasi dari Direksi Perseroan, namun tidak terdapat kepastian bahwa Perseroan akan dapat membayarkan dividen pada tahun ini ataupun pada tahun-tahun mendatang. Keputusan Direksi dalam memberikan rekomendasi pembayaran dividen tergantung pada:1. Rencana pengembangan Perseroan dan belanja modal;2. Pertimbangan kebijakan pada sektor industri yang sejenis;3. Kondisi arus kas dan kebutuhan modal kerja Perseroan;

4. Kebijakan struktur permodalan Perseroan;5. Laba bersih Perseroan.

Pembagian dividen di sepanjang tahun 2019 untuk hasil usaha di tahun 2018 sebagai berikut:

Kebijakan Pembagian Dividen 20% Dividend Distribution PolicyDividen Kas yang dibagikan Rp69,08 miliar | billion Cash Dividends DistributedDividen per Lembar Saham Rp9.465 Dividend per ShareRasio Pembagian Dividen 25% Dividend Distribution RatioTanggal Pengumuman 11 April | April 11 Announcement DateTanggal Pembayaran 10 Mei 2019 | May 10, 2019 Payment Date

Pembagian dan pembayaran dividen di tahun 2014 hingga Dibagikan,

Tahun Pembagian DividenYear of Dividend Distribution 2019 2018 2017 2016 2015

Tahun BukuFiscal Year 2018 2017 2016 2015 2014

Tanggal PengumumanAnnouncement Date

11 AprilApril 11

14 Mei 2018May 14, 2018

23 Mei 2017May 23, 2017

2 Mei 2016May 2, 2016

4 Mei 2015May 4, 2015

Tanggal PembayaranPayment Date

10 Mei 2019May 10, 2019

8 Juni 2018June 8, 2018

22 Juni 2017June 22, 2017

1 Juni 2016June 1, 2016

3 Juni 2015June 3, 2015

Kebijakan Pembagian Dividen(%)Dividend Distribution Policy

20% 20% 20% 20% 20%

Dividen Kas yang Dibagikan(Rp)Cash Dividends Distributed

Rp69,08 miliar billion

Rp37.1 miliar billion




Dividen per Lembar Saham (Rp/lembar)Dividend per Share (Rp/share)

Rp9.465 miliar billion Rp5,08 Rp4,26 Rp10,3 Rp39,5

Rasio Pembagian Dividen(%)Dividend Distribution Ratio

25% 15% 10% 20% 70%

BASIS POLICY OF DIVIDEND DISTRIBUTION

According to the Company’s Prospectus in 2008, the Company plans and tries to pay out cash dividend at least once a year. The amount of dividend is linked to the profitability of the Company at the stated fiscal year, while not neglecting the health of the Company and reducing the right of the General Meetings of shareholders of the Company to make other decision based on the Articles of Association.

With regards to the above mentioned policies, the Company attempts to maintain a dividend payout ratio of around 20% of the yearly consolidated net profit of the Company. The determination of the amount and the payment of the cash dividend is dependent on the recommendation of the Board of Directors of the Company, and there is no certainty that the Company will pay out dividend this year or in subsequent years. The decision of the Board of Directors to pay out dividend depends on: 1. The Plan expansion and capital expenditure of the Company;2. The policy consideration in similar industries;3. The cash flow conditions and the working capital requirement

of the Company;4. The policy on Capitar structure of the Company;5. Net profit of the Company.

The distribution of dividends throughout 2019 for operating results in 2018 is as follows:

Distribution and payment of dividends from 2014 to 2018:



KONTRIBUSI TERHADAP NEGARAContribution to the State

INFORMASI TENTANG PROGRAM KEPEMILIKAN SAHAM OLEH KARYAWAN DAN/ATAU MANAJEMEN (ESOP/MSOP)Information about Share Ownership Program by Employee and/or Management (ESOP/MSOP)

Sebagai Perusahaan yang patuh Perseroan semua peraturan yang berlaku, Perseroan telah melakukan pemenuhan terkait kewajiban dalam membayar pajak yang merupakan salah satu bentuk kontribusi Perseroan kepada negara. Pembayaran pajak Perseroan pada tahun 2019 tercatat sebesar Rp73,42 miliar. Adapun rincian kewajiban Perusahaan terkait kewajiban perpajakan di tahun 2018 dan 2019, adalah sebagai berikut:

Uraian 2019(Rp-juta I Rp-million)

2018(Rp-juta I Rp-million) Description

PPH 4(2) 1.392 461 PPH 4(2)PPH 15 586 298 PPH 15PPH 21 19.479 3.869 PPH 21 PPH 22 333 829 PPH 22PPH 23 3.326 2.041 PPH 23 PPH 25 (Badan) 20 - PPH 25 (Badan)PPH 26 1.279 323 PPH 26Pajak Pertambahan Nilai 25.130 15.999 Value Added TaxPajak penghasilan badan tahun berjalan 21.879 4.960 Corporate income tax: Current yearJumlah 73.424 28.780 Total

Program kepemilikan saham oleh karyawan dan/atau manajemen yang dilaksanakan perusahaan (ESOP/MSOP) yang masih ada sampai tahun buku, memuat uraian mengenai: 1. Jumlah saham ESOP/MSOP dan realisasinya2. Jangka waktu.3. Persyaratan karyawan dan/atau manajemen yang berhak.4. Harga exercise.

Management and/or Employee stock ownership program implemented by the Company (ESOP/MSOP) that still exist until the fiscal year, the description shoud include:1. The amount of ESOP/MSOP shares and the realization2. Period.3. Requirements of rightful employee and/or management4. Exercise price.

As a company that Company with all applicable regulations, the Company has fulfilled its obligations in paying taxes which is a form of the Company's contribution to the state. The Company's taxes in 2019 was recorded at Rp73.42 billion. The details of the Company's obligations related to taxation obligations in 2018 and 2019 are as follows:


INFORMASI TENTANG REALISASI PENGGUNAAN DANA HASIL PENAWARAN UMUM

Information on the Realization of Fund from the Initial Public Offering

Pada awal tahun 2008, Perseroan melakukan suatu aksi korporasi yaitu Penawaran Umum Perdana Saham atau Initial Public Offering (IPO) dengan mencatatkan saham Perseroan di Bursa Efek Indonesia (BEI) dengan kode saham ELSA, efektif mulai tanggal 6 Februari 2008.

Sebelum melakukan penawaran umum perdana saham tersebut, Perseroan melakukan peningkatan modal dasar dari Rp750 miliar menjadi Rp2,3 triliun, pemecahan nominal saham (stock split) 1:5 atau dari Rp500 per lembar saham menjadi Rp100 per lembar saham serta peningkatan modal ditempatkan dan disetor penuh dari Rp583,9 miliar menjadi Rp729,9 miliar. Penawaran umum perdana saham dilakukan sebanyak 20% saham dari enlarged capital atau 1.460.000.000 lembar saham, sehingga total lembar saham setelah IPO menjadi 2.798.500.000 lembar.

Harga penawaran umum perdana saham adalah Rp400 per lembar saham sehingga nilai dana hasil penawaran umum yang dihasilkan adalah sebagai berikut:

Jumlah Hasil Penawaran UmumTotal of Public Offering Results

Biaya Penawaran UmumPublic Offering Fee

Hasil BersihNet Results

584,0 17,6 566,3

Setelah pelaksanaan Penawaran Umum Perdana saham dan mengacu pada butir 2 Peraturan BAPEPAM X.K.4, Perseroan telah melaporkan rincian penggunaan dana kepada Bapepam-KL secara berkala setiap tiga bulanan, yaitu mulai dari posisi per 31 Maret 2008, dan terakhir adalah posisi per 31 Maret 2009. Pada posisi per 30 Maret 2009, dana hasil penawaran umum tersebut telah seluruhnya terealisasi secara umum sehingga tidak terdapat perubahan realisasi penggunaan dana dibandingkan dengan rencana penggunaaan dana dalam prospektus. Hal ini juga telah dilaporkan kepada BAPEPAM-LK dan BEI.

In the early 2008, the Company made a corporate action, which is the initial public offering (IPO) by registering its stock in the Indonesian Stock Exchange (IDX) with a code ELSA, starting from February 6, 2008.

Prior to the initial public offering, the Company increased its capital from Rp750 billion to Rp2.3 trillion, split the stock value by 1:5 or from Rp500 per share to Rp100 per share, as well as increased the issued and fully paid capital from Rp583.9 billion to Rp729.9 billion. The initial public offering was done for 20% of the shares from the enlarged capital or equal to 1,460,000,000 shares, such that the number of shares after IPO was at 2,798,500,000.

The offered price during IPO was at Rp400 per shares, such that the fund obtained by the Company from the public offering is as follows:

After the initial public offering and in accordance to the section 2 of the BAPEPAM Regulation X.K.4, the Company has reported the detail used of the fund to Bapepam-LK periodically every three months, starting from March 31, 2008 until March 31, 2009. As of March 30, 2009, the fund from initial public offering has been in its entirety realized, and that there were no changes in the realization of the use of the fund as compared to the planned use of fund stated in the prospectus. This has also been reported to BAPEPAM-LK and to IDX.



Modal KerjaPerseroan

Company's Working Capital

Pinjaman untukPengembangandan perluasan

Aktivitas Usaha AnakPerusahaan

Loan for Subsidiaries Development and

Business Expansion

Pembayaransebagian HutangPayment of Debts

Pembelian BarangModal

Purchase of Capital Goods

Total RencanaPenggunaan Dana

Total Proceeds Usage Plan

Sisa Dana Hasil

Penawaran Umum

Remaining IPO

Proceeds

RencanaPlan

RealisasiRealization

RencanaPlan


RencanaPlan


RencanaPlan


RencanaPlan


25,00% 25,00% 15,00% 15,00% 7,00% 7,00% 53,00% 53,00% 100,00% 100,00% -141,6 143,9 84,9 84,9 39,6 40,3 300,1 297,2 566,3 566,3 -

1. Perseroan menggunakan Rp143,9 miliar dana IPO untuk modal kerja, dimana hal tersebut sesuai dengan persentase rencana penggunaannya (25,0%);

2. Dalam rangka pinjaman untuk pengembangan dan perluasan aktivitas usaha anak perusahaan, Perseroan telah mempergunakan Rp84,9 atau 15,0% dari dana IPO untuk:a. Elnusa Bangkanai Energy Ltd., dalam rangka persiapan

eksplorasi dan eksploitasi senilai Rp1,5 miliar.b. EPN untuk modal kerja sebesar Rp24,0 miliar.c. SCU dalam rangka perluasan storage, investasi radio

trunking dan modal kerja operasi senilai Rp59,4 miliar.

Dana pinjaman ini telah dikembalikan kepada Perseroan yang telah digunakan sebagai modal kerja.

3. Perseroan menggunakan 7,0% dana IPO atau Rp40,3 miliar untuk pembayaran sebagian utang kepada:a. Sercel Nantes, Perancis senilai USD2,0 juta.b. PT Hewlett Packard Finance Indonesia senilai USD2,5

juta.4. Pembelian barang modal yaitu: peralatan survei seismik

Rp37,2 miliar, peralatan pengeboran Rp133,2 miliar dan peralatan oilfield services senilai Rp126,9 miliar.

1. The Company used Rp143.9 billion of the fund from IPO for working capital, in accordance to the percentage plan used (25.0%);

2. In terms of loan for development and expansion activities of its subsidiaries, the Company has used Rp84.9 or 15.0% of the fund from IPO for:a. Elnusa Bangkanai Energy Ltd. for the preparation of

exploration and exploitation in the amount of Rp1.5 billion.b. EPN for working capital in the amount of Rp24.0 billion.c. SCU for storage expansion, investment in radio

trunking, and operational working capital in the amount of Rp59.4 billion.

These loans have been repaid to the Company and have been used as working capital.

3. The Company used 7.0% of the fund from IPO or in the amount of Rp40.3 billion for repayment of portion of debt to:a. Sercel Nantes, France in the amount of USD2.0 millionb. PT Hewlett Packard Finance Indonesia in the amount

of USD2.5 million.4. Purchase of capital goods such as: seismic survey equipment

in the amount of Rp37.2 billion, drilling equipment in the amount of Rp133.2 billion and oilfield services equipment in the amount of Rp126.9 billion.


INFORMASI TRANSAKSI MATERIAL YANG MENGANDUNG BENTURAN KEPENTINGAN DAN/ATAU

TRANSAKSI DENGAN PIHAK AFILIASI/PIHAK BERELASIInformation on Material Transaction with Potential Conflict of Interests and/or

Transactions with Affi l iated Parties/Related Parties

Sepanjang tahun 2019, Perseroan melakukan transaksi dengan pihak-pihak yang berafiliasi, namun transaksi tersebut dikecualikan dari peraturan BAPEPAM-LK No. IX.E.1 karena tidak mengandung benturan kepentingan mengingat transaksi tersebut merupakan transaksi berkelanjutan serta kegiatan usaha utama dan penunjang kegiatan usaha Perseroan dan Anak Perusahaan. Entitas dianggap berelasi jika entitas tersebut baik secara langsung maupun tidak langsung, dapat mengendalikan atau mengendalikan bersama atau memiliki pengaruh signifikan atas grup dalam pengambilan keputusan keuangan dan operasional. Entitas juga dianggap berelasi jika entitas tersebut berada dalam pengendalian bersama dengan Grup.

Dengan demikian, pengungkapan selanjutnya mengenai hal ini disesuaikan dengan PSAK No. 7 tentang “Pengungkapan atas Pihak-Pihak Berelasi”. Secara rinci, informasi mengenai transaksi ini terdapat pada Catatan atas Laporan Keuangan No. 30 tentang “Informasi Mengenai Pihak-Pihak Berelasi”. Transaksi dan saldo dengan pihak-pihak berelasi adalah sebagai berikut:

Pengungkapan Pihak BerelasiRelated Party Disclosures

Sifat TransaksiNature of Transaction

Pihak yang BerelasiRelated Parties

Sifat HubunganNature of Relationship

Alasan Dilakukannya Transaksi

Reason for TransactionKas dan Setara Kas dan Aset KeuanganCash and Cash Equivalents and Financial Assets

Bank Mandiri, BNI, BNI Syariah, BRI, BSM, BRI Agroniaaga, BTN

Entitas berelasi dengan Pemerintah, swastaGovernment and Private related entity

Transaksi perbankanBanking Transaction

Piutang UsahaTrade Receivables

PT Pertamina EP, PT Pertamina (Persero), PT Pertamina Hulu Energi, Pertamina Drilling Services Indonesia, PT Pertamina Gas, dan Lain-lain di bawah 0,5% dari modal disetorPT Pertamina EP, PT Pertamina (Persero), PT Pertamina Hulu Energi, Pertamina Drilling Services Indonesia, PT Pertamina Gas, and Other Companies under 0.5% of paid in capital

Entitas sepengendaliEntity under Common Control

Transaksi penjualan jasa dan barangTransaction of sales of services and goods

Aset Keuangan Lancar LainnyaOther Current Financial Assests

Pertamina, PEP, Bank Mandiri, BRI

Entitas sepengendali, Entitas berelasi dengan Pemerintah, swastaEntity under Common Control, Government, Private related Entity

Piutang sewa pembiayaan, kas yang dibatasi penggunaannyaFinance Lease Receivables, restricted cash

Aset Keuangan Tidak Lancar LainnyaOther Non-current Financial Assets

Pertamina, PEP, BRI, Bank Mandiri

Entitas sepengendali, Entitas berelasi dengan Pemerintah, swastaEntity under Common Control, Government, Private related Entity

Piutang sewa pembiayaanFinance Lease Receivables

Pinjaman Bank Jangka PendekShort-term Bank Loans

BNI, BRI

Entitas berelasi dengan Pemerintah, swastaGovernment and Private related entity

Transaksi perbankan, kebutuhan modal kerja Banking transaction, working capital requirement

Utang UsahaTrade Payables

PT Pertamina (Persero), PT Pertamina Retail, PT Pertamina Patra Niaga dan Lain-lain di bawah 0,5% dari modal disetorPT Pertamina (Persero), PT Pertamina Retail, PT Pertamina Patra Niaga and Other Companies under 0.5% of paid in capital

Entitas sepengendaliEntity under common control

Transaksi pembelian barang dan jasaPurchase of goods and services

Throughout 2018, the Company conducted transactions with affiliated parties, but these transactions have been excluded from BAPEPAM-LK Regulations No. IX.E.1 because there is no conflict of interests given that these transactions are continuous transactions as well as the main and supporting activities of the Company and its subsidiaries. Entities are considered as affiliated if these entities can, directly or indirectly, control or jointly control or have significant influence on the group’s financial and operational decision making processes. Entities are also considered affiliates if these entities are within the control of the Group.

Therefore, the disclosure is set in accordance to PSAK No. 7 on “Disclosure on Related Parties”. More specifically, information on these transactions is provided in the Notes to the Financial Report No. 30 on “Information on Affiliated Parties”. Transactions and the outstanding amounts with these affiliated parties are as follows:



Pengungkapan Pihak BerelasiRelated Party Disclosures

Sifat TransaksiNature of Transaction

Pihak yang BerelasiRelated Parties

Sifat HubunganNature of Relationship

Alasan Dilakukannya Transaksi

Reason for Transaction

Pinjaman Bank Jangka PanjangLong-term Bank Loans

BNI Syariah SwastaPrivate

Transaksi perbankan, kebutuhan pembiayaan investasi Banking transaction, investment funding requirement

Kompensasi Personil Manajemen KunciCompensation of Key Management Personnel

Imbalan Kerja Jangka Pendek, Pesangon Pemutusan KerjaShort-term Employee Benefits, Termination Benefits

Entitas berelasi dengan PemerintahGovernment related Entity

Program iuran pensiunPension program

PendapatanRevenue

Pertamina, PEP, Pertagas, PHI,Nusantara Regas, Pertamina Geothermal, Perusahaan Gas Negara, PT Pertamina Gas, PT Pertamina Lubricant,PHE, PDSI dan Lain-lain dibawah 0,5% dari modal disetorPertamina, PEP, Pertagas, PHI, Nusantara Regas, Pertamina Geothermal, Company Gas Negara, PT Pertamina Gas, PT Pertamina Lubricant, PHE, PDSI and Other Companies under 0.5% of paid in capital


Transaksi penjualan jasa dan barangTransaction of sales of services and goods

PembelianPurchases

Pertamina, KOPEN, PT pertamina Niaga,PT Pertamina Lubricant, PT Pertamina Trans KontinentalPertamina Retail, TPI dan Lain-lain di bawah 0,5% dari modal disetorPertamina, KOPEN, PT Pertamina Niaga,PT Pertamina Lubricant, PT Pertamina Trans Kontinental Pertamina Retail, TPI and Other Companies under 0.5% of paid in capital


Transaksi pembelian barang dan jasaTransaction of sales of services and goods

*Sejak terjadinya perubahan komposisi pemegang saham pada bulan Juni 2014, Grup mengakui adanya hubungan istimewa dengan entitas berelasi dengan Pemerintah.

Realisasi Transaksi Pihak Berelasi Tahun 2019Berikut realisasi transaksi pihak berelasi per 31 Desember 2019:

Uraian 2019(Rp-juta I Rp-million)

2018(Rp-juta I Rp-million) Description

Kas dan Setara Kas 762.676 500.172 Cash and Cash Equivalent

Piutang Usaha 1.835.665 1.285.836 Trade Receivables

Aset Keuangan Lancar Lainnya 30.496 17.850 Other Current Financial Assets

Aset Keuangan tidak Lancar Lainnya 333.788 53.310 Other Non-Current Financial Assets

Pinjaman Bank Jangka Pendek 43.695 Short-term Bank Loans

Utang Usaha 244.626 260.386 Trade Payables

Pendapatan Ditangguhkan 101.650 Deferred Income

Kompensasi Personil Manajemen Kunci 32.808 28.849 Key management personnel compensation

Pendapatan 6.186.275 4.458.944 Revenue

Pembelian 2.430.626 2.145.747 Purchases

*Since the change of composition of the shareholders as of June 2014, the holding group disclosed special relationship with the Government.

Realization of Related Party Transactions in 2019The following is the realization of related party transactions as of December 31, 2019:


INFORMASI KEUANGAN YANG MENGANDUNG KEJADIAN YANG BERSIFAT LUAR BIASA DAN JARANG TERJADI

Financial Information that Contains Extraordinary and Uncommon Events

PERUBAHAN PERATURAN PERUNDANG-UNDANGAN YANG BERPENGARUH SIGNIFIKAN TERHADAP PERUSAHAAN

Changes in Regulations that have Significant Impact on the Company

PERUBAHAN KEBIJAKAN AKUNTANSI DAN DAMPAKNYA TERHADAP PERUSAHAAN

Accounting Policies Changes and Its Impact on the Company

Sepanjang tahun 2019, tidak terdapat informasi keuangan yang mengandung kejadian yang bersifat luar biasa dan jarang terjadi.

Sepanjang tahun 2019, tidak terdapat perubahan peraturan perundang-undangan yang berpengaruh signifikan terhadap Perusahaan baik dari sisi keuangan maupun operasional.

Sepanjang tahun 2019, tidak terdapat perubahan kebijakan akuntansi yang memiliki dampak secara material baik dari sisi keuangan maupun operasional perusahaan.

During 2019, there was no financial information containing extraordinary and rare events.

Throughout 2019, there were no changes in laws and regulations that significantly affected the Company both in financial and operational terms.

During 2019, there were no changes in accounting policies that had a material impact on the financial and operational aspects of the company.



INFORMASI KELANGSUNGAN USAHAInformation Regarding Business Continuity

HAL-HAL YANG BERPOTENSI BERPENGARUH SIGNIFIKAN TERHADAP KELANGSUNGAN USAHA PERUSAHAAN PADA TAHUN 2019.

Tidak terdapat hal-hal yang berpotensi berpengaruh signifikan terhadap kelangsungan usaha Perseroan selama tahun 2019, mengingat tidak terdapat kecelakaan kerja berupa fatality yang berpotensi menyebabkan Perseroan mendapatkan sanksi keras. Sepanjang tahun 2019, Perseroan telah memperoleh beberapa kontrak/pekerjaan yang bersifat multiyear untuk tahun mendatang, selain itu posisi keuangan dan kas Perseroan dalam kondisi yang kuat untuk kegiatan operasional dan memenuhi kewajiban jangka pendek dan jangka panjang Perseroan.

Assessment Manajemen atas hal-hal yang berpotensi berpengaruh signifikan terhadap kelangsungan usaha Perusahaan pada tahun 2019.

Dalam mengukur serta menilai hal-hal yang berpotensi berpengaruh signifikan terhadap kelangsungan usaha Perusahaan, asumsi yang digunakan Manajemen dalam melakukan pengukuran dan penilaian meliputi beberapa hal sebagai berikut:1. Aspek keuangan

a. Membandingkan saldo-saldo realisasi tahun 2019 dengan Laporan Keuangan yang telah diaudit.

b. Menghitung kembali persentase fluktuasi yang dilaporkan oleh Manajemen antara saldo-saldo aktual tahun 2019 dengan target anggaran/RKAP tahun 2019 dan saldo-saldo aktual tahun 2018.

2. Penilaian tingkat kesehatan Perusahaana. Melakukan perhitungan ulang dan membandingkan

indikator kinerja keuangan antara realisasi tahun 2019 target anggaran/RKAP tahun 2019 berdasarkan kriteria yang telah ditetapkan dalam Pedoman Penilaian Kinerja Anak Perusahaan Pertamina.

POTENTIAL MATTERS THAT HAVE A SIGNIFICANT EFFECT ON THE COMPANY'S BUSINESS CONTINUITY IN 2019.

There were no potential matters that can significantly impact the continuity of the Company’s business in 2019, given that fatal accident that occured did not cause the company to got severe warning. Throughout 2019, the Company received several multiyears contracts/jobs for the coming year, and the financial and cash position of the Company remained in good conditions to support the operational activities and to fulfil its short- and long-term term obligations.

Management Assessment of potential matters that have a significant effect on the Company's business continuity in 2019.

In measuring and evaluating matters that have the potential to significantly influence the Company's business continuity, the assumptions used by Management in measuring and evaluating include the following:1. Financial aspect

a. Compare the balances of 2019 with the Financial Statements that have been audited.

b. Recalculate the percentage of fluctuations reported by Management between the actual balances of 2019 with the target budget/RKAP of 2019 and the actual balances of 2018.

2. Assessment of the Company health levela. Perform recalculation and compare financial

performance indicators between the realization of the 2019 budget target/2019 RKAP based on the criteria set out in the Performance Evaluation Guidelines of Pertamina Subsidiaries.


b. Melakukan perhitungan ulang dan membandingkan indikator kinerja operasional antara realisasi tahun 2019 target anggaran/RKAP tahun 2019 berdasarkan kriteria yang telah ditetapkan dalam Pedoman Penilaian Kinerja Anak Perusahaan Pertamina.

c. Melakukan perhitungan ulang dan membandingkan indikator kinerja administrasi antara realisasi tahun 2018 target anggaran/RKAP tahun 2019 berdasarkan kriteria yang telah ditetapkan dalam Pedoman Penilaian Kinerja Anak Perusahaan Pertamina.

d. Melakukan perhitungan ulang dan membandingkan tingkat kesehatan Perusahaan antara realisasi tahun 2019 dengan target anggaran/RKAP tahun 2019 berdasarkan kriteria yang telah ditetapkan dalam Pedoman Penilaian Kinerja Anak Perusahaan Pertamina.

3. Perkembangan usaha Perusahaana. Membandingkan informasi keuangan tahun 2018 dan

2019 dengan Laporan Keuangan yang telah diaudit.b. Melakukan perhitungan ulang dan membandingkan

informasi rasio keuangan tahun 2018 dan 2019.

Tingkat Kesehatan PerusahaanTingkat Kesehatan Perusahaan (TKP) mengacu pada ketentuan Pedoman Penilaian Anak Perusahaan PT Pertamina (Persero) No. A6-002/H40000/2019-S9. Adapun Penilaian diukur dari Penilaian Kinerja Keuangan, Penilaian Kinerja Pertumbuhan, Penilaian Kinerja Operasional dan Penilaian Kinerja Administrasi, dengan klasifikasi pada segmen Industri Jasa Penunjang Eksplorasi/Produksi. Berdasarkan Penilaian tersebut untuk tahun Buku 2019 dihasilkan nilai 89,5 dengan Klasifikasi Sehat AA.

b. Perform recalculation and compareing operational performance indicators between the realization of the 2019 budget target/2019 budget based on criteria set out in the Performance Evaluation Guidelines of Pertamina's Subsidiaries.

c. Perform recalculation and comparing administrative performance indicators between the realization of the 2018 budget target/2019 budget based on the criteria set out in the Performance Evaluation Guide for Pertamina's Subsidiaries.

d. Perform recalculation and comparing the level of health of the Company between the realization in 2019 with the budget target/budget in 2019 based on the criteria set out in the Performance Assessment Guidelines of Pertamina's Subsidiaries.

3. Development of the Company's businessa. Compare the financial information of 2018 and 2019

with the financial statements that have been audited.b. Perform recalculation and compare the financial ratio

information of 2018 and 2019.

Company Health LevelThe level of Company Health (TKP) refers to the provisions of the Guidelines for Assessment of Subsidiaries of PT Pertamina (Persero) Number A6-002/H40000/2019-S9. The valuation is measured from the Financial Performance Appraisal, Growth Performance Appraisal, Operational Performance Appraisal and Administration Performance Appraisal, with classification in the Exploration/Production Support Services Industry segment. Based on the assessment for Fiscal Year 2019, a score of 89.5 was obtained with the AA Healthy Classification.

TATA KELOLA PERUSAHAANCorporate Governance

The GCG implementat ion assessment for the 2019 f inancia l year was carr ied out by the Indonesian Ins t i tu te for Corporate Di rectorship ( I ICD) which implemented the ASEAN CG Scorecard wi th a to ta l va lue of 86.64 points . The resul ts o f the GCG implementat ion assessment received the t i t le "GOOD", meaning the Company adopted some in ternat ional s tandards.

Pelaksanaan assessment penerapan GCG untuk tahun buku 2019, dilakukan oleh Indonesian Institute for Corporate Directorship (IICD) yang menerapkan ASEAN CG Scorecard dengan total nilai sebesar 86,64 poin. Hasil Assessment implementasi GCG mendapatkan predikat “GOOD”, artinya Perseroan mengadopsi sebagian standar internasional.


TATA KELOLA PERUSAHAANGood Corporate Governance

PRINSIP DASAR TATA KELOLA PERUSAHAAN YANG BAIKGood Corporate Governance Basic Principles

Tata Kelola Perusahaan yang Baik, atau Good Corporate Governance (GCG) secara definitif merupakan serangkaian sistem yang mengatur dan mengendalikan entitas usaha yang diharapkan mampu menciptakan nilai tambah untuk seluruh pemangku kepentingan; termasuk kepada pemegang saham. Terdapat 2 (dua) hal penekanan, yaitu pentingnya hak pemegang saham untuk memperoleh informasi dengan benar dan tepat pada waktunya bahkan hingga pemegang saham minoritas, dan, kewajiban entitas usaha untuk melakukan pengungkapan secara akurat, tepat waktu, transparan terhadap semua informasi kinerja entitas usaha, kepemilikan, dan pemangku kepentingan. Kehadiran GCG diharapkan mampu memberikan fondasi atas pengelolaan entitas usaha yang akuntabel.

Sejalan dengan perkembangan dunia usaha, prinsip GCG turut mengalami perkembangan yang mencakup sistem pengawasan dan pengendalian yang mendukung etika kerja dan pengambilan keputusan yang bertanggung jawab, mendukung integritas dalam pelaporan keuangan, pengelolaan risiko yang layak, serta hubungan pemangku kepentingan dan Perseroan yang berlandaskan etika. Di lingkup Perseroan, penilaian dilakukan atas penerapan GCG untuk memastikan terwujudnya prinsip GCG secara komprehensif.

Pada perkembangannya, Regulator bersama-sama dengan berbagai pihak yang menaruh perhatian terhadap perkembangan GCG di Indonesia memberikan penegasan yang kuat atas pentingnya hubungan yang harmonis antara entitas usaha dan pemangku kepentingan. Melalui hubungan yang harmonis ini, diharapkan akan terbentuk dunia usaha yang menghindari cara-cara menciptakan keuntungan sesaat, dan justru mampu berkontribusi bagi dimensi sosial dan lingkungan di sekitarnya.

Good Corporate Governance (GCG) constitutes a set of systems that regulate and control business entities to create added value for all stakeholders, including shareholders. There are 2 (two) points of emphasis, namely the importance of the right of shareholders and even minority shareholders to promptly obtain correct information, as well as the obligation of business entities to make accurate, timely and transparent disclosures of information on all business entity performance, ownership and stakeholders. Perseroan GCG is expected to provide a foundation for managing short- and long-term, business entities.

In line with the business world development, the principles of GCG have also evolved with a system of supervision and control that supports work ethics and responsible decision making, supports integrity in financial reporting, proper risk management, and stakeholder relations and the Company based on ethics. Within the scope of the Company, an assessment is carried out on the implementation of GCG to ensure the realization of GCG principles comprehensively.

In its development, the Regulator together with various parties that have paid attention to the development of GCG in Indonesia have provided a strong affirmation of the importance of a harmonious relationship between business entities and stakeholders. Through this harmonious relationship, it is expected that a business world will be formed which avoids the ways of creating instant profit, and can actually contribute to the surrounding social and environmental dimensions.


PERKEMBANGAN PENERAPAN GCG DI LINGKUP PERSEROANDevelopment of GCG Implementation in Company Environment

Sebagai Perusahaan Publik yang tercatat di Bursa Efek Indonesia (BEI), Perseroan berkomitmen secara penuh untuk menerapkan prinsip-prinsip GCG sebagai landasan dalam menciptakan nilai tambah yang berkelanjutan bagi kepentingan para pemegang saham, masyarakat secara luas, dan berbagai pemangku kepentingan lainnya (pegawai, konsumen, regulator, mitra kerja, dan lain-lain) baik dalam jangka pendek maupun jangka panjang.

Tata Kelola yang dijalankan Perseroan didasari oleh prinsip- prinsip GCG, yaitu Transparency, Accountability, Responsibility, Independency, dan Fairness yang merupakan komitmen kuat bagi Perseroan untuk selalu menjaga dan meningkatkan nilai Perusahaan (corporate value), mendorong pengelolaan Perusahaan yang profesional, transparan dan efisien sehingga fundamental dan daya saing Perseroan semakin kuat dan terjaga dengan baik.

Organ Perseroan masing-masing menjalankan fungsinya dengan baik, Dewan Komisaris melakukan fungsi pengawasannya atas kebijakan pengurusan, jalannya pengurusan, baik mengenai Perseroan maupun usaha Perseroan yang dilakukan oleh Direksi, serta memberi nasehat kepada Direksi. Direksi menjalankan tugasnya secara kolegial dalam melaksanakan penguruan Perseroan dan bertanggung jawab kepada RUPS sebagai bentuk perwujudan akuntabilitas pengeloaan Perusahaan sesuai dengan prinsip-prinsip tata kelola perusahaan.

Penerapan Tata Kelola Perusahaan selama tahun 2019 di antaranya adalah sebagai berikut:1. Pembaruan Pedoman Code of Conduct2. Pembenahan sistem Whistleblowing System3. Pengkinan berbagai pedoman Kepatuhan terkait dengan

Tata Kelola Perusahaan

TUJUAN PENERAPAN GCG

Untuk memuwujudkan Perusahaan yang berdaya saing tinggi dan terus tumbuh, Perseroan mengembangkan struktur dan sistem Tata Kelola Perusahaaan sesuai dengan prinsip-prinsip GCG, dengan tujuan:1. Mengoptimalkan nilai Perusahaan untuk membangun daya

saing yang kuat baik secara nasional maupun internasional, dalam menjaga etika dan integritas agar dapat menjaga eksistensi dan pertumbuhan secara berkelanjutan dalam menghadapi era perdagangan bebas Masyarakat Ekonomi ASEAN (MEA);

2. Mendorong pengelolaan perusahaan secara profesional, efisien serta efektif selain juga memberdayakan fungsi dan meningkatkan kemandirian organ-organ dalam perusahaan;

3. Memberikan jaminan rasa aman sehingga akan menumbuhkan kepercayaan dari para investor maupun calon investor;

As a Public Company listed on the Indonesia Stock Exchange (IDX), the Company is fully committed to implementing GCG principles as a basis for creating sustainable added value for the interests of shareholders, the wider community, and various other stakeholders (employees, consumers , regulators, business partners, etc.) both in the short and long term.

Good Corporate Governance is based on GCG principles, namely Transparency, Accountability, Responsibility, Independence and Fairness, which are a strong commitment for the Company to always maintain and enhance the value of the company (corporate value), encourage the management of a professional, transparent and efficient company. so that the fundamentals and competitiveness of the Company are getting stronger and better maintained.

Each organ of the Company performs its functions properly, the Board of Commissioners carries out its oversight function on the management policies, the management of the Company, and the Company's business is conducted by the Directors, as well as advising the Directors. The Board of Directors executes its collegial duties in carrying out the Company's teaching and is accountable to the GMS as a manifestation of the Company's management accountability in accordance with the principles of Corporate Governance

Implementation of Corporate Governance during 2019 is as follows:1. Renewal of the Code of Conduct Guidelines2. Revamping the Whistleblowing System3. Updated various Compliance guidelines related to Corporate

governance

GCG IMPLEMENTATION OBJECTIVE

To create a Company that is highly competitive and continues to grow, the Company develops the structure and system of Corporate Governance in accordance with the principles of GCG, with the aim of:1. Optimizing the value of the Company to build strong

competitiveness both nationally and internationally, in maintaining ethics and integrity in order to maintain existence and sustainable growth in the face of the free trade era of the ASEAN Economic Community (AEC);

2. Encouraging professional, efficient and effective company management as well as empowering functions and increasing the independence of the organs in the company;

3. Providing a guarantee of security so that it will foster the trust of investors and potential investors;



4. Directing and controlling work relationships between the Company's organs;

5. Encouraging that every decision-making and its implementation must be based on high moral values and in accordance with applicable laws and regulations and high social responsibility;

6. Creating professional human resources;7. Improving the welfare of all Elnusa Individuals and increasing

the benefits for Stakeholders;8. Preventing irregularities in the management of the Company;

9. Improving the Company's Work Culture.

BASIC PRINCIPLES OF GCG AND ITS IMPLEMENTATION

The Company views that implementing GCG is a strong pillar to promote growth. Hence, the Company is endeavored to always apply GCG to all stakeholders by complying with applicable laws and regulations. Continuously improving the quality of GCG implementation best practices by updating various policies, standards, guidelines, procedures that are adapted to changes in legislation in force, the business environment, as well as the business development and performance of the Company.

In the practice of GCG principles, the Company refers to 5 (five) basic principles, namely: transparency, accountability, responsibility, independence, and fairness, as released in the General Guidelines for Good Corporate Governance issued by the National Committee on Governance Policy (KNKG).

Explanation of the basic principles above and their general application within the scope of the Company is as follows:

4. Mengarahkan serta mengendalikan hubungan kerja antara antara organ Perseroan;

5. Mendorong agar setiap pengambilan keputusan maupun pelaksanaannya harus dilandasi nilai moral yang tinggi dan sesuai dengan peraturan perundang-undangan yang berlaku serta tanggung jawab sosial yang tinggi;

6. Menciptakan sumber daya manusia yang professional;7. Meningkatkan kesejahteraan seluruh Insan Elnusa serta

peningkatan kemanfaatan bagi Stakeholders;8. Mencegah terjadinya penyimpangan dalam pengelolaan

Perseroan;9. Meningkatkan Budaya Kerja Perseroan.

PRINSIP DASAR GCG DAN PENERAPANNYA

Perseroan memandang bahwa penerapan GCG merupakan sebuah pilar kuat untuk memajukan pertumbuhan. Oleh sebab itu, Perseroan berupaya untuk senantiasa menerapkan GCG terhadap seluruh pemangku kepentingan dengan mematuhi peraturan perundang-undangan yang berlaku. Peningkatan kualitas dari penerapan praktik terbaik GCG dengan secara terus menerus dilakukan, melakukan pemutakhiran berbagai kebijakan, standar, pedoman, prosedur yang disesuaikan dengan perubahan peraturan perundang-undangan yang berlaku, keadaan lingkungan bisnis, dan juga perkembangan usaha dan kinerja Perseroan.

Dalam menerapkan prinsip-prisip GCG, Perseroan mengacu pada 5 (lima) prinsip dasar yaitu: transparansi, akuntabilitas, responsibilitas, independensi, dan kewajaran, sebagaimana telah dirilis dalam Pedoman Umum Good Corporate Governance yang dikeluarkan oleh Komite Nasional Kebijakan Governance (KNKG).

Azas-azas Tata Kelola Perusahaan yang BaikGood Corporate Governance Principles

Transparansi Transparency

AkuntabilitasAccountability

ResponsibilitasResponsibility

IndependensiIndependency

Kesetaraan/KewajaranEquality/Fairness

Penjelasan prinsip-prinsip dasar di atas dan penerapannya secara umum di lingkup Perseroan adalah sebagai berikut:


Prinsip DasarBasic Principles

Penjelasan Sesuai Pedoman GCG ElnusaExplanation According to Elnusa GCG Guidelines

Penerapan di Lingkup ElnusaApplication in Elnusa Scope

Keterbukaan (Transparency)

• Tersedianya kebijakan secara tertulis pada sarana akses informasi Perusahaan.

• Informasi yang disajikan selalu akurat dan memadai bagi seluruh pemangku kepentingan.

• Kemudahan dalam mengakses informasi Perusahaan.

• Availability of written policies on Company access to information.

• The information presented is always accurate and adequate for all stakeholders.

• Ease in accessing Company information.

• Tersedianya Situs web Perseroan• Tersedianya Laporan Tahunan dan Laporan Keberlanjutan.

Tersedianya siaran Pers.• Tersedianya berbagai pedoman secara tertulis dalam situs web

Perseroan.Availability of the Company's Website.Availability of Annual Report and Sustainability Report

• Availability of press releases.• Availability of various written guidelines on the Company's

website.

Akuntabilitas (Accountability)

• Penilaian kinerja secara berkala• Proses check and balance system dalam pengelolaan

Perseroan.• Regular performance assessment• Check and balance system processes in the

management of the Company.

• Perseroan secara berkala menyelenggarakan penilaian kinerja Dewan Komisaris, Komite Dewan Komisaris, serta Direksi.

• Melalui Rapat Umum Pemegang Saham Tahunan, Dewan Komisaris dan Direksi mempertanggungjawabkan kinerjanya kepada Pemegang Saham.

• The Company periodically conducts performance assessment of the Board of Commissioners, the Committees of the Board of Commissioners and the Board of Directors.Through the Annual General Meeting of Shareholders, the Board of Commissioners and Board of Directors have responsibility for their performance to the Shareholders.

Pertanggungjawaban (Responsibility)

• Menjunjung tinggi integritas Perseroan melalui Corporate Value .

• Melaksanakan praktik bisnis secara bertanggung jawab.

• Upholding the integrity of the Company through Corporate Value.

• Implementing business practices responsibly

• Penerapan standar etika Perseroan.• Tersedianya berbagai bisnis proses secara update .• Application of Company code of conduct.• Availability of various business processes in an update.

Kemandirian (Independency)

• Keputusan yang Obyektif untuk setiap proses bisnis yang dilakukan.

• Menghindari adanya potensi Benturan Kepentingan.• Objective decisions for each business process that

is carried out.• Avoiding potential conflicts of interestn.

• Perseroan melaksanakan kegiatan usaha secara mandiri dan tidak mendapat intervensi dari Pemegang Saham Pengendali maupun pemangku kepentingan lainnya.

• The Company carries out business activities independently and does not get any intervention from the Controlling Shareholders or other stakeholders.

Kesetaraan dan Kewajaran (Fairness)

• Perlakuan yang setara terhadap pemegang saham• Perlakuan yang setara kepada para karyawan• Equal treatment for shareholders• Equal treatment for employees

• Pemanggilan RUPS dilakukan 21 hari sebelum pelaksanaan RUPS dengan menggunakan bahasa indonesia dan bahasa inggris.

• Penyampaian CV dari masing-masing calon pengurus Perseroan dalam situs Web Perseroan.

• Tersedianya akses yang memudahkan para pemegang saham untuk memperoleh dokumen proxy pemegang saham

• Invitation to the GMS are carried out 21 days before the GMS, using Indonesian and English.

• Submission of CVs from each candidate for the management of the Company on the Company's website.Availability of access that facilitate the shareholders to obtain shareholder proxy documents.



DASAR HUKUM

Penerapan GCG di Perseroan mengacu kepada beberapa ketentuan, peraturan, serta perundang-undangan yang berlaku, yaitu:1. Undang-Undang Republik Indonesia

a. Undang-Undang Republik Indonesia No. 40 Tahun 2007 tentang Perseroan Terbatas.

b. Undang-Undang Republik Indonesia No. 8 Tahun 1995 tentang Pasar Modal

c. Undang-Undang Republik Indonesia .No. 28 Tahun 1999 tentang Penyelenggara Negara yang Bersih dan Bebas dari Korupsi, Kolusi, dan Nepotisme

d. Undang-Undang Republik Indonesia No. 5 Tahun 1999 tentang Larangan Praktik Monopoli dan Persaingan Usaha Tidak Sehat.

e. Undang-Undang Republik Indonesia No. 13 Tahun 2003 tentang Ketenagakerjaan.

f. Undang-Undang Republik Indonesia No. 20 Tahun 2001 tentang Perubahan atas Undang- Undang Republik Indonesia No. 31 Tahun 1999 tentang Pemberantasan Tindak Pidana Korupsi

g. Undang-Undang Republik Indonesia No. 15 Tahun 2002 tentang Tindak Pidana Pencucian Uang sebagaimana telah diubah dengan Undang-Undang Republik Indonesia No. 25 Tahun 2003

h. Undang Undang Republik Indonesia No. 11 Tahun 2008 tentang Informasi dan Transaksi Elektronik

i. Undang Undang Republik Indonesia No. 14 Tahun 2008 tentang Keterbukaan Informasi

2. Peraturan Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) yang telah dialihfungsikan menjadi Otoritas Jasa Keuangan (OJK), serta Peraturan Bursa Efek Indonesia (BEI)a. Peraturan Bapepam-LK No. X.K.4, Lampiran Keputusan

Ketua Bapepam No. Kep-27/PM/2003 Tanggal 17 Juli 2003 tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum

b. Peraturan Bapepam-LK No. IX.I.5, Lampiran Keputusan Ketua Bapepam No. Kep-29/Pm/2004 Tanggal 24 September 2004 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit

c. Peraturan Bapepam-LK No. X.K.6, Lampiran Keputusan Ketua Bapepam dan Lembaga Keuangan No. Kep-134/Bl/2006 Tanggal 7 Desember 2006, tentang Kewajiban Penyampaian Laporan Tahunan Bagi Emiten atau Perusahaan Publik

d. Peraturan Bapepam-LK No. IX.J.1, Lampiran Ketua Bapepam dan Lembaga Keuangan No. Kep-179/Bl/2008 Tanggal 14 Mei 2008, tentang Pokok-Pokok Anggaran Dasar Perusahaan yang Melakukan Penawaran Umum Efek Bersifat Ekuitas dan Perubahan Publik

e. Peraturan Bapepam-LK No. X.K.2, Lampiran Keputusan Ketua Bapepam dan Lembaga Keuangan No. Kep-346/Bl/2011 Tanggal 5 Juli 2011, tentang Penyampaian Laporan Keuangan Berkala Emiten atau Perusahaan Publik

LEGAL BASIS

The implementation of GCG in the Company refers to a number of applicable rules, regulations and laws, namely:1. Laws of the republic Indonesia

a. Republic of Indonesia Law No. 40 of 2007 concerning Limited Liability Companies.

b. Republic of Indonesia Law No. 8 of 1995 concerning Capital Markets.

c. Republic of Indonesia Law No. 28 of 1999 concerning State Administrators who are Clean and Free of Corruption, Collusion and Nepotism.

d. Republic of Indonesia Law No. 5 of 1999 concerning Prohibition of Monopolistic Practices and Unfair Business Competition.

e. Republic of Indonesia Law No. 13 of 2003 concerning Manpower.

f. Republic of Indonesia Law No. 20 of 2001 concerning Amendments to the Law of the Republic of Indonesia No. 31 of 1999 concerning Eradication of Corruption Crimes

g. Republic of Indonesia Law No. 15 of 2002 concerning Criminal Acts of Money Laundering as amended by Law of the Republic of Indonesia No. 25 of 2003.

h. Law of the Republic of Indonesia No. 11 of 2008 concerning Electronic Information and Transactions

i. Law of the Republic of Indonesia No. 14 of 2008 concerning Information Openness

2. Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) Regulations that have been converted into Financial Services Authority (OJK), and Indonesian Stock Exchange Regulations (IDX)a. Bapepam-LK Regulation No. X.K.4, Attachment to the

Decree of the Chairman of Bapepam No. Kep-27/PM/2003 dated July 17, 2003 concerning Realization of the Use of Proceeds from Public Offering

b. Bapepam-LK Regulation No. IX.I.5, Attachment to the Decree of the Chairman of Bapepam No. Kep-29/PM/2004 dated 24 September 2004 concerning the Formation and Guidelines for the Implementation of Audit Committee Work

c. Bapepam-LK Regulation No. X.K.6, Attachment of Decree of the Chairman of Bapepam and Financial Institution No. Kep-134/Bl/2006 dated December 7, 2006, concerning the Obligation to Submit Annual Reports to Issuers or Public Companies

d. Bapepam-LK Regulation No. IX.J.1, Attachment of Chairman of Bapepam and Financial Institution No. Kep-179/Bl/2008 dated May 14, 2008, concerning Principles of Articles of Association of Companies Conducting Public Offering of Equity-Type Securities and Public Changes

e. Bapepam-LK Regulation No. X.K.2, Attachment to Decree of the Chairman of Bapepam and Financial Institution No. Kep-346/Bl/2011 dated July 5, 2011, concerning Submission of Periodic Financial Statements of Issuers or Public Companies


f. Peraturan OJK No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik

g. Peraturan OJK No. 34/POJK.04/2014 tentang Komite Nominasi dan Remunerasi Emiten atau Perusahaan Publik

h. Peraturan OJK No. 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik

i. Peraturan OJK No. 8/POJK.04/2015 tentang Situs Web Emiten atau Perusahaan Publik

j. Peraturan OJK No. 21/ POJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka

k. Peraturan OJK No. 30/POJK.04/2015 tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum.

l. Peraturan OJK No. 31/POJK.04/2015 tentang Keterbukaan atas Informasi atau Fakta Material oleh Emiten atau Perusahaan Publik

m. Peraturan OJK No. 55/POJK.04/2015 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit

n. Peraturan OJK No. 56/POJK.04/2015 tentang Pembentukan dan Pedoman Penyusunan Piagam Unit Audit Internal.

o. Peraturan OJK No. 29/POJK.04/2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik

p. Surat Edaran OJK No. 32/SEOJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka

q. Surat Edaran OJK No. 30/SEOJK.04/2016 tentang Bentuk dan Isi Laporan Tahunan Emiten atau Perusahaan Publik

r. Peraturan Otoritas Jasa Keuangan No. 10/POJK.04/2017 tentang Perubahan atas Peraturan Otoritas Jasa Keuangan No. 32/POJK.04/2014 tentang Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka

s. Peraturan OJK No. 11/POJK.04/2017 tentang Laporan Kepemilikan atau Setiap Perubahan Kepemilikan Saham Perusahaan Terbuka

t. Peraturan OJK No. 13/POJK.03/2017 tentang Penggunaan Jasa Akuntan Publik dan Kantor Akuntan Publik dalam Kegiatan Jasa Keuangan

u. Lampiran Keputusan Direksi BEI No. Kep-305/BEJ/07-2004 tanggal 19 Juli 2004 tentang Peraturan No. I-A Pencatatan Saham dan Efek Bersifat Ekuitas Selain Saham yang diterbitkan oleh Perseroan tercatat

3. Pedoman Umum Good Corporate Governance Indonesia Tahun 2006 yang diterbitkan oleh Komite Nasional Kebijakan Governance tanggal 17 Oktober 2006 (“Pedoman Umum GCG Indonesia KNKG”).

4. Anggaran Dasar Perseroan terakhir, yang telah disahkan melalui Akta 31 tanggal 11 April tahun 2019.

5. ISO 26000 tentang Panduan Tanggung Jawab Sosial6. OECD 2004 Principles of Corporate Governance.

f. OJK Regulation No. 33/POJK.04/2014 concerning Directors and Board of Commissioners of Issuers or Public Companies

g. OJK Regulation No. 34/POJK.04/2014 concerning the Nomination and Remuneration Committee of Issuers or Public Companies

h. OJK Regulation No. 35/POJK.04/2014 concerning Corporate Secretary of Issuers or Public Companies

i. OJK Regulation No. 8/POJK.04/2015 concerning Issuer's or Public Companies' Websites

j. OJK Regulation No. 21/POJK.04/2015 concerning Guidelines for Public Company Governance

k. OJK Regulation No. 30/POJK.04/2015 concerning Realization Report on the Use of Funds from Public Offering.

l. OJK Regulation No. 31/POJK.04/2015 concerning Transparency of Material Information or Facts by Issuers or Public Companies

m. OJK Regulation No. 55/POJK.04/2015 concerning the Formation and Guidelines for the Work Implementation of the Audit Committee

n. OJK Regulation No. 56/ POJK.04/2015 concerning the Formation and Guidelines for the Preparation of Internal Audit Unit Charter.

o. OJK Regulation No. 29/POJK.04/2016 concerning Annual Reports of Issuers or Public Companies

p. OJK Circular No. 32/SEOJK.04/2015 concerning Guidelines for Open Corporate Governance

q. OJK Circular No. 30/SEOJK.04/2016 concerning the Form and Content of Issuers or Public Companies' Annual Reports

r. OJK Regulation No. 10/POJK.04/2017 concerning Amendments to the OJK Regulation No. 32/POJK.04/2014 concerning Plans and Organizing of a Public Company Shareholders General Meeting

s. OJK Regulation No. 11/POJK.04/ 2017 concerning Ownership Reports or Any Changes in Ownership of Public Company Shares

t. OJK Regulation No. 13/POJK.03/2017 concerning Use of Public Accountant Services and Public Accountant Offices in Financial Services Activities

u. Attachment to IDX Board of Directors Decree No. Kep-305/BEJ/07-2004 dated July 19, 2004 concerning Regulation No. I-A Listing of Shares and Equity Securities Other than Shares issued by the Company are listed

3. 2006 General Guidelines for Good Corporate Governance in Indonesia published by the National Committee on Governance on October 17, 2006 ("General Guidelines on Indonesian GCG KNKG").

4. The latest Company's Articles of Association, which have been ratified through Deed 31 dated April 11, 2019.

5. ISO 26000 on Social Responsibility Guidelines6. OECD 2004 Principles of Corporate Governance.



INFRASTRUKTUR DAN SOFTSTRUCTURE GCG ELNUSAElnusa GCG Infrastructure and Softstructure

INFRASTRUKTUR GCG

Berdasarkan Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas, infrastruktur keorganisasian sebuah Perseroan Terbatas mencakup kepentingan pemegang saham yang dituangkan melalui Rapat Umum Pemegang Saham (RUPS); Direksi dengan tugasnya untuk mengelola; serta Dewan Komisaris yang berfungsi melakukan pengawasan. Sistem kepengurusan PT menganut model 2 (dua) badan atau two tier system, yaitu Dewan Komisaris dan Direksi dengan kewewenangan dan tanggung jawab yang jelas sesuai fungsinya masing-masing sebagaimana diamanahkan dalam peraturan dan perundang-undangan serta Anggaran Dasar.

Perseroan memiliki ketiga organ utama tersebut, baik RUPS, Dewan Komisaris dan Direksi. Dewan Komisaris dan Direksi memiliki tanggung jawab untuk memelihara kesinambungan usaha Perseroan dalam jangka panjang. Oleh karena itu, Dewan Komisaris dan Direksi harus memiliki kesamaan persepsi terhadap visi, misi, dan nilai-nilai inti serta budaya Perseroan.

GCG INFRASTRUCTURE

Pursuant to Law No. 40 of 2007 concerning Limited Liability Companies, the organizational infrastructure of a Limited Liability Company includes the interests of shareholders as outlined in the General Meeting of Shareholders (GMS); Directors with their duties to manage; and the Board of Commissioners whose function is to supervise. The Company’s management system follows the model of 2 (two) bodies or two tier systems, namely the Board of Commissioners and the Board of Directors with clear authority and responsibilities in accordance with their respective functions as mandated in regulations and laws and the Articles of Association.

The Company has three main organs, the GMS, the Board of Commissioners and the Board of Directors. The Board of Commissioners and Directors have the responsibility for maintainingthe Company's long-term business sustainability. Therefore, the Board of Commissioners and the Board of Directors must have a common perception of the Company's vision, mission and core values and culture.


Infrastruktur GCG Perseroan juga mengikutsertakan beberapa aspek penting yang berperan untuk mendukung penguatan kontrol dan pengelolaan terhadap Perseroan, terdiri dari organ pendukung yang meliputi Sekretaris Perusahaan dan Unit Audit Internal yang berada di bawah Direksi, serta Komite Audit, Komite Nominasi dan Remunerasi, dan Komite Manajemen Risiko yang berada di bawah Dewan Komisaris. Selain itu, terdapat proses audit independen atas laporan keuangan dan laporan lainnya yang dilakukan oleh akuntan eksternal dalam memperkuat kontrol khususnya terkait laporan kinerja Perseroan. Struktur tersebut telah sesuai dengan ketentuan regulasi yang berlaku di Indonesia.

SOFTSTRUCTURE GCG

Softstructure atau perangkat lunak GCG merupakan sebuah mekanisme penerapan prinsip GCG di lingkup sebuah entitas usaha. Softstructure GCG terdiri dari berbagai peraturan dan kebijakan yang mengatur lingkup tanggung jawab organ GCG, dan hubungan kerja antar organ GCG; termasuk dengan pemangku kepentingan baik internal maupun eksternal.

Mekanisme penerapan prinsip GCG sendiri merupakan mekanisme atas implementasi tata kelola perusahaan yang tercermin dalam sistem yang kuat. Hal ini menjadi penting, karena implementasi tata kelola perusahaan tidak cukup hanya dengan mengandalkan pilar governance structure, melainkan dibutuhkan adanya aturan main yang jelas dalam bentuk mekanisme. Governance mechanism dapat diartikan sebagai aturan main, prosedur dan hubungan yang jelas antara pihak yang mengambil keputusan dengan pihak yang melakukan kontrol (pengawasan) terhadap keputusan tersebut.

Perseroan telah menyusun, menerapkan dan memperbaharui softstructure GCG yang terdiri dari Kebijakan dan Prosedur Operasional, meliputi antara lain:

GCG Softstructure

Anggaran Dasar PerusahaanThe Company’s Article of Association

Pedoman Etika Perilaku Manajemen.Guidelines for Management Behavior Ethics

Panduan Tata Kelola Perusahaan (GCG Code)Good Corporate Governance (GCG Code)

Pedoman pemberian dan penerimaan hadiah.Guidelines for the giving and receiving of prizes

Panduan Perilaku (Code of Conduct)Code of Conduct

Pedoman Benturan Kepentingan.Guidelines for Conflicts of Interest

Board Manual (Buku Panduan Dewan Komisaris dan Direksi)Board Manual (Board of Commissioners and Directors Guidebook)

Pedoman Whistleblowing System.Guidelines for Whistleblowing System

Piagam Komite AuditAudit of Committee Charter

Pedoman Anti-Fraud.Anti-Fraud Guidelines

Piagam Komite Nominasi dan RemunerasiNomination and Remuneration Committee Charter

Pedoman Anti Suap dan Korupsi.Anti Bribery and Corruption Guidelines

Piagam Komite Manajemen RisikoRisk Management Committee Charter

Pedoman Kepemilikan dan Transaksi Bagi Orang Dalam.Guidelines for Ownership and Transactions for Insiders

Piagam Sekretaris PerusahaanCorporate Secretary Charter

Pedoman Perlindungan hak Kreditur.Guidelines for the Protection of Creditors’ Rights

Piagam Internal AuditInternal Audit Charter

Kebijakan SOP dan Instruksi Kerja.SOP Policy and Work Instruction

Pedoman Manual MutuQuality Manual Guidelines

Kebijakan Bisnis proses.Business Process Policy

The Company's GCG infrastructure also includes several important aspects that play a role in supporting the strengthening of control and management of the Company, comprised of supporting organs including the Corporate Secretary and Internal Audit Unit under the Board of Directors, as well as the Audit Committee, the Nomination and Remuneration Committee, and the Risk Management Committee under the Board of Commissioners. In addition, there is an independent audit process for financial reports and other reports carried out by external accountants in strengthening control, especially related to the Company's performance report. The structure is in accordance with the applicable regulations in Indonesia.

GCG SOFT STRUCTURE

Soft Structure or GCG software is a mechanism for implementing GCG principles within the scope of a business entity. The GCG Soft Structure consists of various regulations and policies governing the scope of responsibility of the GCG organs, and working relationships between GCG organs; including with internal and external stakeholders.

The mechanism for implementing GCG principles itself is a mechanism for implementing corporate governance that is reflected in a strong system. This is important, because the implementation of corporate governance is not enough just to rely on the pillars of governance structure, but it needs clear rules in the form of mechanisms. Governance mechanism can be interpreted as the rules of the game, procedures and clear relations between the parties that make decisions with those who exercise control of these decisions.

The Company has compiled, implemented and updated the GCG soft structure consisting of Operational Policies and Procedures, including:



Hirarki Kebijakan dan Prosedur Operasional PerseroanCompany’s Hierarchy Policies and Operational Procedures

GCG Code

Kebijakan dan Pedoman Manajemen Management Policies and Guidelnes

• SOP dan Instruksi KerjaSOP and Work Instructions

• Bisnis proses Business Process

• Manual MutuQuality Manual

Code of Conduct

• Pedoman Etika Perilaku Manajemen \Guidelines for Management Behavior Ethics

• Pedoman pemberian dan penerimaan hadiah Guidelines for the giving and receiving of prizes

• Pedoman Benturan Kepentingan Guidelines for Conflicts of Interest

• Pedoman Whistleblowing Systems Guidelines for Whistleblowing Systems

• Anti-Fraud• Anti Suap dan Korupsi

Anti Bribery and Corruption• Pedoman Kepemilikan dan Transaksi bagi

Orang Dalam Guidelines for Ownership and Transactions for Insiders

• Pedoman Perlindungan hak KrediturGuidelines for the Protection of Creditors’ Rights

Piagam Charter

• Board Manual• Piagam Komite Audit

Audit Committee Charter• Piagam Komite Nominasi dan Remunerasi

Nomination and Remuneration Committee Charter

• Piagam Komite Manajemen RisikoRisk Management Committee Charter

• Piagam Internal AuditInternal Audit Charter

• Piagam sekretaris PerusahaanCorporate Secretary Charter

Prinsip GCG GCG Principles

Tanggung Jawab Responsibility

Independensi Independence

KewajaranFairness

TransparansiTransparency

AkuntabilitasAccountability

Kebijakan dan Prosedur Operasional terkait penerapan GCG di lingkup Perseroan telah diterbitkan dalam situs web Perseroan dengan alamat www.elnusa.co.id, yang tersaji dalam Bahasa Indonesia dan Inggris dan selalu dilakukan pemutakhiran secara berkala untuk disesuaikan dengan kondisi dan best practices serta perubahan peraturan perundang-undangan yang berlaku.

Operational policies and procedures related to the implementation of GCG within the Company's scope have been published on the Company's website at www.elnusa.co.id, which are presented in Indonesian and English and are always updated regularly in accordance with the conditions and best practices as well as changes in the applicable laws and regulations.


ROAD MAP PENGEMBANGAN TATA KELOLA PERUSAHAAN YANG BAIK

Good Corporate Governance Development Roadmap

Bad Governance

GCGComply

GCG Governed Company

GCG as a Culture

GCG Citizenship

Belum terpenuhinya Tata Kelola Perusahaan yang Baik, dimana kepentingan public belum sebagai prioritas utama.

Parameter:• Dominasi Kekuasaan• Birokrasi yang rumit• Bisnis proses yang

tidak jelas• Kurangnya Pedoman

internal sebagai acuan Tata Kelola Perusahaan.

Good Corporate Governance has not been fulfilled, where the public interest is not yet a top priority.

Parameter:• Power Domination• Complicated

bureaucracy• Unclear business

processes• Lack of internal

guidelines as a reference for Corporate Governance

Memenuhi Ketentuan dan peraturan (mandatory maupun voluntary) dalam Tata Kelola Perushaan

Parameter:• GCG Structure• Terpenuhinya

kewajiban pelaporan kepatuhan

• Seluruh pedoman internal telah sesuai dengan regulasi untuk Perusahaan Terbuka

Meeting the provisions and regulations (mandatory and voluntary) in Corporate Governance.

Parameter:• GCG Structure• Fulfilment of compliance

..reporting obligations.• All internal guidelines

are in accordance with regulations.

• For Public Companies.

Terkelolanya operasional Perusahaan yang baik melalui kontrol internal, pengendalian risiko, dan penerapan WBS.

Parameter:• GCG Mechanism• Beyond Complience• Award/penghargaan• Memiliki

Whistleblowing System yang dikelola dengan baik

Good corporate operational management through internal control, risk control and WBS implementation.

Parameter:• GCG Mechanism• Beyond Complience• Award• Presence of

well-managed Whistleblowing System

Terciptanya seluruh elemen GCG sebagai budaya Perusahaan.

Parameter:• Sustainability

Performance.• Award/penghargaan.• Behaviour Guidance.

The creation of all elements of GCG as a corporate culture.

Parameter:.• Sustainability

.Performance.• Award.• Behavior Guidance

Perusahaan menjadi masyarakat/warga energi industri yang etikal dan bertanggung jawab melalui pendekatan CSR (5P)

Parameter:• ISO:26000• Sustainable

Development Goals• SR Award• Share Price

The Company becomes an ethical and responsible society/citizen of the energy industry through a CSR approach (5P)

Parameter:• ISO: 26000• Sustainable

Development Goals• SR Award• Share Price

Poor Practices EmergingFoundation Established Sustained



PENILAIAN ATAU EVALUASI ATAS PENERAPAN TATA KELOLA PERUSAHAAN YANG BAIKASEAN Corporate Governance Scorecard Assessment by IICD 2019

DASAR PENILAIAN DAN METODE

Perseroan memiliki komitmen untuk selalu menerapkan standar tata kelola yang terbaik dengan selalu berusaha menerapkan praktik tata kelola yang baik melalui berbagai usaha perbaikan dan peningkatan, serta merujuk pada standar minimal maupun rekomendasi yang harus dipenuhi.

Sesuai Peraturan OJK (POJK) No. 21/POJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka, Perseroan sebagai perusahaan terbuka wajib untuk melakukan pengukuran terhadap penerapan GCG yang dilakukan melalui penilaian (assessment). Perseroan melakukan penilaian penerapan GCG secara konsisten setiap tahunnya untuk mengetahui tingkat kecukupan penerapan GCG di lingkungan Perseroan. Penilaian yang dilakukan oleh Perseroan menggunakan berbagai acuan standar praktik terbaik (best practices) yang berlaku. Perseroan melakukan penilaian penerapan GCG dengan menggunakan standar praktik praktik terbaik yang berlaku di Indonesia maupun di luar negeri, yaitu ASEAN Corporate Governance Scorecard.

ASSESSMENT PENERAPAN GCG TAHUN BUKU 2019

Pelaksanaan assessment penerapan GCG untuk tahun buku 2019, dilakukan oleh Indonesian Institute for Corporate Directorship (IICD) dengan menerapkan ASEAN CG Scorecard. Adapun hasil penilaian ASEAN CG Scorecard untuk tahun 2019 adalah sebagai berikut:

Capaian Penilaian ASEAN CG Scorecard ElnusaASEAN CG Scorecard Assessment Results of Elnusa

Total Nilai untuk Praktik CF PT Elnusa Tbk Komponen Penilaian

Total Value of PT EInusa Tbk CF Practice Assessment Component

A. Hak-hak Pemegang SahamTotal skor kasar* bobot = 95,24 x 10%

9,52 Shareholders RightsTotal rough score* weight = 95,24 x 10%

B. Perlakuan Setara terhadap Pemegang Saham71,43 x 10%

7,14 Equal Treatment for Shareholders71,43 x 10%

C. Peran Pemangku Kepentingan92,31 x 15%

13,85 Stakeholders Role92,31 x 15%

D. Keterbukaan dan Transparansi93,75 x 25%

23,44 Disclosure and Transparency93,75 x 25%

E. Tanggung Jawab Dewan Komisaris69,23 x 40%

27,69 Board of Commissioners Responsibility69,23 x 40%

F. Bonus 7 BonusG. Penalti (2) Penalty TOTAL SKOR TERTIMBANG 86,64 TOTAL SCORE

BASIC ASSESSMENT AND METHODS

The Company has a commitment to always apply the best governance standards by always trying to apply good governance practices through various improvements and upgrading efforts, as well as referring to the minimum standards and recommendations that must be met.

Pursuant to OJK Regulation (POJK) No. 21/POJK.04/2015 concerning Guidelines for Public Company Governance, the Company as a public company is required to take measurements of the implementation of GCG which is carried out through an assessment. The Company evaluates the practice of GCG consistently every year to determine the level of adequacy of GCG implementation within the Company. The assessment conducted by the Company uses various applicable best practice standards. The Company evaluates the implementation of GCG using best practice standards that apply in Indonesia and abroad, namely the ASEAN Corporate Governance Scorecard.

ASSESSMENT OF GCG IMPLEMENTATION FOR 2019 FISCAL YEAR

An assessment of the application of GCG for the 2019 fiscal year was carried out by the Indonesian Institute for Corporate Directorship (IICD) by applying the ASEAN CG Scorecard. The results of the ASEAN CG Scorecard assessment for 2019 are as follows:


Total nilai (overall score) praktik GCG yang diperoleh Perusahaan untuk tahun buku 2018 (ASEAN Scorecard 2019) adalah sebesar 86,64 poin. Secara overall, hasil Assessment implementasi GCG ELSA mendapatkan predikat “GOOD”, artinya Perusahaan mengadopsi sebagian standar internasional.

Apabila dilihat dari nilai atau skor kasar (tidak tertimbang), dapat disimpulkan bahwa tingkat kepatuhan perusahaan untuk prinsip Bagian A (prinsip hak-hak pemegang saham) mencapai 95,24 persen, Bagian B (prinsip perlakuan setara terhadap pemegang saham) mencapai 71,43 persen, Bagian C (prinsip peran para pemangku kepentingan) mencapai 92,31 persen, Bagian D (prinsip pengungkapan dan tranparansi) mencapai 93,75 persen, serta Bagian E (prinsip tanggung jawab dewan) mencapai 69,23 persen.

Grafik berikut menyajikan perbandingan CG Score dari ELSA dengan rata-rata 100 BigCap100, berdasarkan ASEAN CG Scorecard 2019.

9,52 7,14

13,85

23,44

27,69

86,64

5

7,17 6,78

12,25

18,66

26,4

72,57

1,32

Part A Part C Part EPart B Part D Net B/P Overall

ELSA

BigCap100

Grafik di atas menunjukkan bahwa hasil overall CG Score ELSA menurut ASEAN CG Scorecard 2019 secara keseluruhan berada di atas rata-rata CG Score Big Cap 100 dengan selisih 14,07 poin. Kecuali Part B dan Part E, skor ELSA juga di atas rata-rata skor tiap Part dari BigCap100.

The total score (overall score) of GCG practices obtained by the Company for the 2018 financial year (2019 ASEAN Scorecard) reached 86.64 points. Overall, the results of the ELSA GCG implementation assessment received the title "GOOD", meaning that the Company adopted some international standards.

When viewed from a value or rough score (unweighted), it can be concluded that the level of company compliance with the principle of Part A (the principle of shareholder rights) reaches 95.2%, Part B (the principle of equal treatment of shareholders) reached 71, 43%, Part C (the principle of stakeholder role) reached 92.31%, Part D (the principle of disclosure and transparency) reached 93.75, and Part E (principle of board responsibility) reached 69.23%.

The following chart presents a comparison of the CG Score from ELSA with an average of 100 BigCap100, based on the ASEAN CG Scorecard 2019.

The graph above shows that the overall results of the ELSA CG Score according to the ASEAN CG Scorecard 2019 as a whole are above the average CG Score of Big Cap 100 with a difference of 14.07 points. Except for Part B and Part E, ELSA scores are also above the average score of each Part of BigCap100.



Broadly speaking, the structure of GCG within the Company's scope refers to Law No. 40 of 2007 concerning Limited Liability Companies, consisting of 3 (three) main organs, namely the General Meeting of Shareholders (GMS), Directors, and Board of Commissioners. As explained earlier, the Limited Liability Company management system adheres to a 2 (two) body model or two tier system, namely the Board of Commissioners and the Board of Directors with clear authority and responsibilities in accordance with their respective functions as mandated in the rules and regulations as well as the Articles of Association. Meanwhile, the GMS is a forum for shareholders to decide on strategic matters.1. General Meeting of Shareholders, hereinafter referred to as

RUPS, is an Organ of the Company which has authority not given to the Directors or the Board of Commissioners within the limits specified in the Law and/or Articles of Association.

2. The Board of Commissioners is a Company organ that is responsible for conducting general and/or specific supervision in accordance with the Articles of Association and giving advice to the Directors.

3. The Board of Directors is a Company organ that has the authority and is fully responsible for the management of the Company for the interests of the Company, in accordance with the aims and objectives of the Company and represents the Company, both inside and outside the court in accordance with the provisions of the Articles of Association.

STRUKTUR ORGAN TATA KELOLA PERUSAHAAN YANG BAIKOrganizational Structure of Good Corporate Governance

Secara garis besar, struktur GCG di lingkup Perseroan mengacu kepada Undang-undang No. 40 Tahun 2007 tentang Perseroan Terbatas, yang terdiri dari 3 (tiga) organ utama yaitu Rapat Umum Pemegang Saham (RUPS), Direksi, dan Dewan Komisaris. Seperti yang telah diuraikan sebelumnya, sistem pengelolaan Perseroan Terbatas menganut model 2 (dua) badan atau two tier system, yaitu Dewan Komisaris dan Direksi dengan kewewenangan dan tanggung jawab yang jelas sesuai fungsinya masing-masing sebagaimana diamanahkan dalam peraturan dan perundang-undangan serta Anggaran Dasar. Sementara RUPS merupakan forum bagi pemegang saham untuk memutuskan hal-hal yang bersifat strategis.1. Rapat Umum Pemegang Saham, yang selanjutnya disebut

RUPS 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.

2. Dewan Komisaris adalah Organ Perseroan yang bertugas melakukan pengawasan secara umum dan/atau khusus sesuai dengan Anggaran Dasar serta memberi nasihat kepada Direksi.

3. 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.

Rapat Umum Pemegang Saham General Meeting of Shareholders

Direksi Board of Directors

Komite-Komite Dewan Komisaris Board of Commissioners Committees

1. Komite Audit Audit Committee

2. Komite Nominasi & Remunerasi Nomination & Remuneration Committee

3. Komite Manajemen RisikoRisk Management Committee

Dewan Komisaris Board of Commissioners

Divisi Divisions


PENERAPAN ASPEK DAN PRINSIP TATA KELOLA PERUSAHAAN SESUAIKETENTUAN OTORITAS JASA KEUANGAN

Pedoman tata kelola perusahaan terbuka diatur dalam Peraturan Otoritas Jasa Keuangan Nomor 21/POJK.04/2015 tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka dan Surat Edaran Otoritas Jasa Keuangan (SEOJK) terkait Pedoman tata Kelola Perusahaan Terbuka.

Peraturan tersebut mengatur tentang pedoman tata kelola perusahaan terbuka yang mencakup 5 (lima) aspek, 8 (delapan) prinsip, serta 25 (dua puluh lima) rekomendasi penerapan aspek dan prinsip tata kelola perusahaan yang baik berdasarkan pendekatan “comply or explain” sebagai berikut:

PrinsipPrinciples

RekomendasiRecommendation

ImplementasiImplementation

Aspek 1: Hubungan Perusahaan Terbuka dengan Pemegang Saham Dalam Menjamin Hak-Hak Pemegang Saham;Aspect 1: Public Company Relations with Shareholders in Guaranteeing the Rights of Shareholders;

1. Meningkatkan nilai penyelenggaraan Rapat Umum Pemegang Saham (RUPS)

2. Meningkatkan kualitas komunikasi perusahaan terbuka dengan pemegang saham atau investor

1. Perusahaan terbuka memiliki cara atau prosedur teknis pengumpulan (voting) baik secara terbuka maupun tertutup yang mengedepankan independensi dan kepentingan pemegang saham.

2. Seluruh anggota Direksi dan anggota Dewan Komisaris perusahaan terbuka hadir dalam RUPS Tahunan.

3. Ringkasan risalah RUPS tersedia dalam situs web perusahaan terbuka paling sedikit selama 1 (satu) tahun.

1. Perusahaan terbuka memiliki suatu kebijakan komunikasi dengan pemegang saham atau investor.

2. Perusahaan terbuka mengungkapkan kebijakan komunikasi perusahaan terbuka dengan pemegang saham atau investor dalam situs web.

1. TerpenuhiPerseroan telah memiliki aturan terkait penyelenggaraan RUPS dimana voting dilakukan secara terbuka dengan mengangkat tangan sesuai dengan aturan yang telah disampaikan oleh pemimpin rapat. Sedangkan voting tertutup dilakukan melalui kartu suara yang dibagikan kepada setiap peserta rapat. Hal ini disampaikan kepada pemegang saham dalam tata tertib RUPS.

2. TerpenuhiDalam RUPS Tahunan 2019 dihadiri oleh seluruh anggota Dewan Komisaris, serta dihadiri oleh seluruh anggota Direksi.

3. TerpenuhiRingkasan risalah RUPS selama 3 (tiga) tahun terakhir tersedia dalam web Perseroan (www.elnusa.co.id)

1. TerpenuhiPerseroan telah memiliki kebijakan komunikasi dengan pemegang saham atau investor melalui aktivitas Non Deal Roadshow, pertemuan analyst, Conference dan public expose.

2. TerpenuhiMateri dan Informasi yang dimiliki oleh Perseroan selalu disampaikan dalam web Perseroan (www.elnusa.co.id) untuk menjamin kesetaraan penyampaian informasi kepada para pemegang saham atau investor

IMPLEMENTATION OF ASPECTS AND PRINCIPLES OF CORPORATE GOVERNANCE ACCORDING TO THE TERMS OF FINANCIAL SERVICES AUTHORITY

Guidelines for public company governance are regulated in Financial Services Authority Regulation No. 21/POJK.04/2015 concerning the Implementation of Open Corporate Governance Guidelines and Financial Services Authority Circular Letter (SEOJK) related to Guidelines for Public Corporate Governance.

The regulation governs the guidelines for public company governance which includes 5 (five) aspects, 8 (eight) principles, and 25 (twenty-five) recommendations for the application of aspects and principles of good corporate governance based on the "comply or explain" approach as follows:



PrinsipPrinciples



1. Increasing the value of hosting General Meetings of Shareholders (GMS).

2. Increasing the quality of communication with shareholders or investors.

1. Open companies have to have technical means or procedures for voting both openly and in a closed process. These procedures must prioritize the independence and interests of shareholders

2. All members of the Board of Directors and members of the Board of Commissioners have to be present at the Annual GMS of Public Companies.

3. A summary of the minutes of the GMS has to be available on a Public Company's website for at least 1 (one) year.

1. The Public Company has to have a communication policy with shareholders or investors.

2. The Public Company has to disclose communication policies with shareholders or investors in its website.

1. FulfilledThe Company has rules regarding the implementation of the GMS. Voting is carried out openly by raising hands in accordance with rules that have been submitted by the meeting's leader. Closed voting is done through a sound card that is distributed to each meeting participant. These rules were conveyed to shareholders in the rules of the GMS.

2. FulfilledThe 2019 Annual General Meeting of Shareholders was attended by all members of the Board of Commissioners, and was attended by all members of the Board of Directors.

3. FulfilledA summary of the minutes of the GMS for the last 3 (three) years is available on the Company's website (www.elnusa.co.id)

1. FulfilledThe Company has a communication policy with shareholders or investors through its Non Deal Roadshow activities, its analysts, its conferences and its public expose meetings.

2. FulfilledThe materials and information held by the Company is always submitted to the Company's website (www.elnusa.co.id) to ensure equality of information delivery to shareholders or investors

Aspek 2: Fungsi dan Peran Dewan KomisarisAspect 2: Function and Role of the Board of Commissioner1. Memperkuat keanggotaan dan

komposisi Dewan Komisaris.

2. Meningkatkan kual itas pelaksanaan tugas dan tanggung jawab Dewan Komisaris.

1. Penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi Perusahaan Terbuka.

2. Penentuan komposisi anggota Dewan Komisaris memperhatikan ke b e ra ga m a n ke a h l i a n , pengetahuan, dan pengalaman yang dibutuhkan.

1. Dewan Komisaris mempunyai kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Dewan Komisaris.

2. Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Dewan Komisaris diungkapkan melalui Laporan Tahunan Perusahaan Terbuka.

3. Dewan Komisaris memiliki kebijakan terkait dengan pengunduran diri anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan.

4. Dewan Komisaris atau Komite yang menjalankan fungsi Nominasi dan Remunerasi menyusun kebijakan suksesi dalam proses Nominasi anggota Direksi.

1. TerpenuhiPenentuan jumlah anggota Dewan Komisaris telah disesuaikan dengan peraturan yang berlaku serta Anggaran Dasar Perseroan sesuai dengan kondisi dan kebutuhan. Perseroan memiliki 5 anggota Dewan Komisaris.

2. TerpenuhiKomposisi anggota Dewan Komisaris telah memenuhi aspek keberagaman keahlian, pengetahuan dan pengalaman serta kondisi dan kompleksitas bisnis Perseroan.

1. Terpenuhi Perseroan telah memiliki kebijakan umum terkait dengan penilaian kinerja Dewan Komisaris yang tertuang dalam Board Manual dan situs web Perseroan.

2. TerpenuhiPerseroan menyampaikan kebijakan penilaian dalam laporan tahunan bagian Tata Kelola Perusahaan sub bab Penilaian kinerja Dewan Komisaris.

3. Terpenuhi Perseroan memiliki kebijakan pengunduran diri secara umum yang tertuang dalam Anggaran Dasar dan Board Manual Perseroan.

4. TerpenuhiPerseroan melalui komite Nominasi dan Remunerasi telah memiliki kebijakan dalam proses nominasi anggota Direksi sesuai dengan tujuan jangka panjang Perusahaan. Kebijakan suksesi dicantumkan dalam situs web Perseroan


PrinsipPrinciples



1. Strengthening the membership and composition of the Board of Commissioners.

2. Improving the implementation quality of the duties and responsibilities of the Board of Commissioners.

1. Determining of the number of members of the Board of Commissioners has to take into account the condition of the Public Company.

1. Determining the composition of members of the Board of Commissioners has to take into account the diversity requirements for expertise, knowledge, and experience.

1. The Board of Commissioners has to have a self-assessment policy to assess its performance.

1. A self-assessment policy to assess the performance of the Board of Commissioners has to be disclosed through the Annual Report of the Public Company.

1. The Board of Commissioners has to have policies related to the resignation of members of the Board of Commissioners if involved in financial crimes.

1. The Board of Commissioners or the Committee that carries out the Nomination and Remuneration function has to prepare a succession policy in the nomination process of Board of Directors members.

1. FulfilledThe method of determining the number of members of the Board of Commissioners has been adjusted to applicable regulations and the Articles of Association of the Company. In accordance with the conditions and needs of the Company, it has 5 members for its Board of Commissioners.

1. FulfilledThe composition of the members of the Board of Commissioners has fulfilled the Company's diversity requirements for of expertise, knowledge and experience. It has also taken note of the Company's conditions and business complexity.

1. FulfilledThe Company has a general policy related to assessments for evaluating the performance of the Board of Commissioners. This policy is contained in the Board Manual and in the Company's website.

1. FulfilledThe Company has submitted an assessment policy in its annual report. It is contained in the Board of Commissioners performance appraisal sub-section, which is contained in the Corporate Governance section.

1. FulfilledThe Company has a policy related to resigning members of the Board of Commissioners. This policy is contained in the Articles of Association and the Company's Board Manual.

1. FulfilledThe Company, through its Nomination and Remuneration committee, has a policy for its process of nominating Board of Directors members in accordance with the Company's long-term goals. Succession policies are included in the Company's website.

Aspek 3: Fungsi dan Peran DireksiAspect 3: Function and Role of Directors1. Memperkuat keanggotaan dan

komposisi Direksi.

2. Meningkatkan kual itas pelaksanaan tugas dan tanggung jawab Direksi.

1. Penentuan jumlah anggota Direksi mempertimbangkan kondisi Perusahaan Terbuka.

2. Penentuan komposisi anggota D i re ks i m e m p e r h ati ka n ke b e ra ga m a n ke a h l i a n , pengetahuan, dan pengalaman yang dibutuhkan.

3. Direksi yang membawahi bidang akuntansi atau keuangan memiliki keahlian dan/atau pengetahuan di bidang akuntansi

1. Direksi mempunyai kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Direksi.

2. Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Direksi diungkapkan melalui Laporan Tahunan Perusahaan Terbuka.

3. Direksi mempunyai kebijakan terkait dengan pengunduran diri anggota Direksi apabila terlibat dalam kejahatan keuangan.

1. TerpenuhiPenentuan jumlah anggota Direksi telah disesuaikan dengan peraturan yang berlaku serta Anggaran Dasar Perseroan sesuai dengan kondisi dan kebutuhan Perseroan memiliki 4 (empat) anggota Direksi.

2. TerpenuhiKomposisi anggota Direksi telah memenuhi aspek keberagaman keahlian, pengetahuan dan pengalaman yang diperlukan oleh Perseroan.

3. TerpenuhiDirektur Keuangan Perseroan telah memiliki latar belakang pendidikan sebagai Sarjana Ekonomi Manajemen dari Universitas Diponegoro, Semarang dan Sarjana Master Manajemen Keuangan & Investasi dari Institut Pertanian Bogor, serta memiliki pengalaman kerja di bidang keuangan di Dana Pensiun Pertamina dan PT Pertamina (Persero)

1. Terpenuhi Perseroan telah memiliki kebijakan umum terkait dengan penilaian untuk menilai kinerja Direksi yang tertuang dalam Board Manual dan situs web Perseroan.

2. TerpenuhiPerseroan telah menyampaikan kebijakan penilaian dalam laporan tahunan bagian Tata Kelola Perusahaan sub bab Penilaian kinerja Direksi.

3. TerpenuhiPerseroan telah memiliki kebijakan terkait dengan pengunduran diri anggota Direksi yang tertuang dalam Board Manual Perseroan.



PrinsipPrinciples



1. Strengthening the membership and composition of the Board of Directors.

2. Improving the implementation quality of the duties and responsibilities of the Board of Directors.

1. Determining of the number of members of the Board of Directors has to take into account the condition of the Public Company.

2. Determining the composition of members of the Board of Directors has to take into account the diversity requirements for expertise, knowledge, and experience.

3. Directors who oversee accounting or finance have to have expertise and/o knowledge in accounting

1. The Board of Directors has to have a self-assessment policy to assess its performance.

2. A self-assessment policy to assess the performance of the Board of Directors has to be disclosed through the Annual Report of the Public Company.

3. The Board of Directors has to have policies related to the resignation of members of the Board of Directors if involved in financial crimes.

1. FulfilledThe method of determining the number of members of the Board of Directors has been adjusted to applicable regulations and the Articles of Association of the Company. In accordance with the conditions and needs of the Company, it has 4 (four) members for its Board of Directors.

2. FulfilledThe composition of the members of the Board of Directors has fulfilled the Company's diversity requirements for of expertise, knowledge and experience.

3. FulfilledThe Finance Director of the Company has an educational background as a Bachelor of Economics in Management from Diponegoro University, Semarang, and a Masters in Financial & Investment Management from the Bogor Agricultural Institute, and has work experience in finance at Pertamina Pension Fund and at PT Pertamina (Persero).

1. FulfilledThe Company has a general policy related to assessments for evaluating the performance of the Board of Directors. This policy is contained in the Board Manual and in the Company's website.

2. FulfilledThe Company has submitted an assessment policy in its annual report. It is contained in the Board of Directors performance appraisal sub-section, which is contained in the Corporate Governance section.

3. FulfilledThe Company has a policy related to resigning members of the Board of Directors. This policy is contained in the Company's Board Manual.

Aspek 4: Partisipasi Pemangku KepentinganAspect 4: Stakeholders Participation1. Meningkatkan aspek tata kelola

perusahaan melalui partisipasi pemangku kepentingan.

1. Perusahaan terbuka memiliki kebijakan untuk mencegah terjadinya insider trading.

2. Perusahaan terbuka memiliki kebijakan anti korupsi dan anti-fraud.

3. Perusahaan terbuka memiliki kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor.

4. Perusahaan terbuka memiliki kebijakan tentang pemenuhan hak-hak kreditur.

5. Perusahaan terbuka memiliki kebijakan sistem whistleblowing.

6. Perusahaan terbuka memiliki kebijakan pemberian insentif jangka panjang kepada Direksi dan karyawan.

1. TerpenuhiPerseroan telah memiliki kebijakan umum terkait dengan insider trading yang tertuang dalam situs web Perseroan

2. TerpenuhiPerseroan telah memiliki kebijakan umum terkait dengan anti korupsi dan anti-fraud yang tertuang dalam CoC Perseroan.

3. TerpenuhiPerseroan telah memiliki SOP terkait dengan prosedur persiapan pengadaan barang dan jasa serta syarat dan ketentuan umum pengadaan barang dan jasa untuk meningkatkan kualitas pengadaan serta kualitas vendor. Hal tersebut tercantum dalam situs web Perseroan.

4. TerpenuhiPerseroan telah memiliki kebijakan terkait dengan kewajiban untuk memenuhi hak-hak kreditur sesuai dengan kebijakan dan ketentuan yang berlaku yang tertuang dalam Perjanjian Kredit yang telah disepakati oleh kedua belah pihak. Hal tersebut tercantum dalam situs web Perseroan.

5. TerpenuhiPerseroan telah memiliki kebijakan terkait dengan whistleblowing system. http://www.elnusa.co.id/idn/investor/investor-information/corporate-governance/mekanisme-pengaduan/

6. TerpenuhiPerseroan telah memiliki kebijakan pemberian penghargaan terhadap masa kerja karyawan sebagai bentuk penghargaan atas loyalitas pekerja.Untuk Direksi kebijakan insentif tersebut melekat pada kebijakan remunerasi Perseroan


PrinsipPrinciples



1. Improving aspects of corporate governance through stakeholder participation.

1. Open companies have to have policies to prevent insider trading.

2. Open companies have to have anticorruption and anti-fraud policies.

3. Open companies have to have policies regarding the selection and improvement of the ability of suppliers or vendors.

4. Open companies have to have policies regarding the fulfillment of creditor rights.

5. Open companies have to have a whistleblowing system policy.

6. Open companies have to have a policy of providing long-term incentives to the Board of Directors and employees.

1. FulfilledThe Company has a general policy related to insider trading contained in the Company's website.

2. FulfilledThe Company has a general policy related to anti corruption and anti-fraud as stated in the Company's CoC.

3. FulfilledThe Company has a standard operating procedure related to procedures for preparing goods and services as well as general terms and conditions for the procurement of goods and services to improve procurement quality and vendor quality. This is stated on the Company's website.

4. FulfilledThe Company has a policy related to the obligation to fulfill the rights of creditors. This policy is in accordance with applicable policies and conditions contained in Credit Agreements agreed upon by both parties. This is stated on the Company's website.

5. FulfilledThe Company has policies related to whistle-blowing systems. http://www.elnusa.co.id/idn/investor/investor-information/corporate-governance/mekanismepengaduan

6. FulfilledThe Company has a policy of awarding employees with tenure as a form of appreciation for employee loyalty. For directors, the incentive policy is inherent in the Company's remuneration policy.

Aspek 5: Keterbukaan InformasiAspect 5: Information Disclosure1. Meningkatkan pelaksanaan

keterbukaan informasi1. Perusahaan terbuka memanfaatkan

penggunaan tekhnologi Informasi secara lebih luas selain situs web sebagai media keterbukaan Informasi.

2. Laporan tahunan perusahaan mengungkapkan pemilik manfaat akhir dalam kepemilikan saham perusahaan terbuka sedikit 5%, selain pengungkapan pemilik manfaat akhir dalam kepemilikan saham perusahaan terbuka melalui pemegang saham Utama dan pengendali.

1. TerpenuhiPerseroan telah secara rutin menyampaikan Informasi tidak hanya terbatas pada keterbukaan Informasi yang telah di atur dalam peraturan perundang-undangan, namun juga Informasi lain terkait Perseroan melalui portal internal, media situs web, news flash, teasers, intranet, Elnusa news corner.

2. TerpenuhiPerseroan telah mengungkapkan pemilik manfaat akhir atas kepemilikan saham Perseroan paling sedikit 5%, juga pengungkapkan pemilik dari manfaat akhir dari kepemilikan saham oleh pemegang saham utama dan pengendali dalam Laporan Tahunan Perseroan.

1. Improving the implementation of information disclosure

1. The public company should make use of Information technology more broadly than just websites as means of information disclosure.

2. The company's annual report has revealed that the owner of final benefits in the ownership of a public company is 5%, in addition to the disclosure of the final beneficial owner in the ownership of the shares of a public company through the Main and controlling shareholders.

1. FulfilledThe Company has routinely conveyed information, not only limited to just the information disclosure required as per legislative regulations, but also other information related to the Company through internal portals, media websites, flash news, teasers, intranets, and through Elnusa's news corner.

2. FulfilledThe Company has revealed that the ultimate benefit owner of the Company's share ownership is at least 5%, and has also disclosed of the owner of the final benefit of share ownership by the major and controlling shareholders in the Company's Annual Report.



RAPAT UMUM PEMEGANG SAHAM (RUPS)

Rapat Umum Pemegang Saham (RUPS) 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. RUPS sebagai organ Perseroan merupakan wadah bagi Pemegang Saham untuk mengambil keputusan penting yang berkaitan dengan modal yang ditanam dalam Perseroan, dengan memperhatikan ketentuan Anggaran Dasar dan peraturan perundang-undangan.

Keputusan yang diambil dalam RUPS harus didasarkan pada kepentingan Perseroan dalam jangka panjang maupun jangka pendek. RUPS dan/atau Pemegang Saham tidak dapat melakukan intervensi terhadap tugas, fungsi dan wewenang Dewan Komisaris dan Direksi dengan tidak mengurangi wewenang RUPS untuk menjalankan haknya sesuai dengan Anggaran Dasar dan peraturan perundang-undangan; termasuk untuk melakukan penggantian atau pemberhentian anggota Dewan Komisaris dan atau Direksi.

PENYELENGGARAAN RUPS PERSEROAN

Tahapan Penyelenggaraan RUPSGMS Implementation Steps

Pemberitahuan penyelenggaraan RUPS kepada regulator

Notification of the holding of the GMS

to the regulator

→

Pengumuman penyelenggaraan RUPS melalui media massa (14 hari sebelum

pemanggilan RUPS)Announcement of the holding of the GMS

through the mass media (14 days before the GMS summons);'

→

Pemanggilan penyelenggaraan RUPS melalui media massa (21 hari sebelum

pelaksanaan RUPS)Summons for holding GMS through mass

media (21 days before the GMS)

↓

Pengumuman hasil RUPS melalui media massa

Announcement of AGMS results through mass media

←

Pencatatan hasil RUPS dengan landasan hukum

The recording of GMS results with a legal basis

←Penyelenggaraan RUPS

Implementation of the General Meeting of Shareholders

Teknis penyelenggaraan RUPS Perseroan, baik RUPS Tahunan maupun RUPS Luar Biasa, mengacu kepada ketentuan Peraturan OJK No. 10/POJK.04/2017 tentang Perubahan atas Peraturan OJK No. 32/POJK.04/2014 tentang Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka. Proses pengumuman dan pemanggilan RUPS dilakukan hal-hal sebagai berikut:1. Pengumuman RUPS dilakukan dalam waktu 14 hari sebelum

pemanggilan RUPS, dengan tidak memperhitungkan tanggal pengumuman dan tanggal pemanggilan.

2. Pemanggilan RUPS dilakukan 21 hari sebelum pelaksanaan RUPS, dengan tidak memperhitungkan tanggal pemanggilan dan tanggal RUPS.

3. Yang berhak hadir dan memberikan suara dalam RUPS adalah pemegang saham yang namanya tercatat dalam Daftar Pemegang Saham Perseroan dan/atau Saldo Rekening Efek di Penitipan Kolektif di PT Kustodian Sentral Efek Indonesia.

PENYELENGGARAAN RUPS DI SEPANJANG TAHUN 2018Sepanjang tahun 2018, Perseroan mengadakan 1 (satu) kali RUPS Tahunan dan 2 (dua) kali RUPS Luar Biasa yang bertempat di Ruang Udaya, Graha Elnusa Jl. TB. Simatupang Kav. 1B Jakarta 12560. RUPS Tahunan dan RUPS Luar Biasa untuk tahun 2018, di hadiri oleh anggota Dewan Komisaris, Direksi, Pemegang Saham Mayoritas dan Pemegang saham lainnya dan atau kuasanya serta di hadiri juga oleh Lembaga Penunjang Pasar Modal.

GENERAL MEETING OF SHAREHOLDERS (GMS)

General Meeting of Shareholders (GMS) is a Company organ that has authority not granted to the Board of Directors or the Board of Commissioners within the limits specified in the Law and/or Articles of Association. The GMS as an organ of the Company is a place for Shareholders to make important decisions relating to capital invested in the Company, taking into account the provisions of the Articles of Association and laws and regulations.

Decisions taken at the GMS must be based on the interests of the Company in the long term and short term. GMS and/or Shareholders cannot intervene in the duties, functions and authorities of the Board of Commissioners and Directors without reducing the authority of the GMS to exercise their rights in accordance with the Articles of Association and laws and regulations; including to replace or dismiss members of the Board of Commissioners and/or Directors.

THE IMPLEMENTATION OF GMS IN THE COMPANY

Technical implementation of the Company's GMS, both the Annual GMS and the Extraordinary GMS, refer to the provisions of OJK Regulation No. 10/POJK.04/2017 concerning Amendments to OJK Regulation No. 32/POJK.04/2014 concerning Plans and Organizing of a Public Company Shareholders General Meeting. The announcement and summons for the GMS is carried out as follows:1. Announcement of the GMS is made within 14 days before

the invitation to the GMS, not counting the date of the announcement and the date of the summons.

2. GMS Summons are made 21 days before the GMS, without taking into account the date of the summons and the date of the GMS.

3. Those entitled to attend and vote at the GMS are shareholders whose names are registered in the Register of Shareholders of the Company and/or Balance of Securities Accounts in Collective Custody at PT Kustodian Sentral Efek Indonesia.

2018 GMS IMPLEMENTATIONSIn 2018, the Company held 1 (one) Annual GMS and 2 (two) Extraordinary GMS at the Udaya Room, Graha Elnusa Jl. TB. Simatupang Kav. 1B Jakarta 12560. Annual GMS and Extraordinary GMS in 2018, attended by members of the Board of Commissioners, Directors, Majority Shareholders and other shareholders and or their proxies and also attended by Capital Market Supporting Institutions.


RUPSGMS

TanggalDate

Kuorum KehadiranAttendance Quorum

Lembaga Penunjang Pasar ModalCapital Market Supporting Institutions

RUPS Luar BiasaExtraordinary GMS

5 Maret 2018March 5, 2018

4.803.286.956 atau 65,811%4,803,286,956 or 65.811%

Notaris:Kantor Notaris Aulia Taufani, S.H.Notary:Aulia Taufani, S.H Notary OfficeBiro Administrasi Efek:Securities Administration Bureau:PT Datindo Entrycom

RUPS TahunanAnnual GMS

14 Mei 2018May 14, 2018

5.171.962.702 atau 70,863%5,171,962,702 or 70.863%

Notaris:Kantor Notaris Aulia Taufani, S.HNotary:Aulia Taufani, S.H. Notary OfficeKantor Akuntan Publik:Public Accountant Office:Purwantono, Sungkoro & Surja(Ernst & Young)Biro Administrasi Efek:PT Datindo EntrycomSecurities Administration Bureau:PT Datindo Entrycom

RUPS Luar BiasaExtraordinary GMS

31 Agustus 2018August 31, 2018

5.213.987.859 atau 71,439%5,213,987,859 or 71.439%

Notaris:Kantor Notaris Aulia Taufani, S.H.Notary:Aulia Taufani, S.H. Notary OfficeBiro Administrasi Efek:PT Datindo EntrycomSecurities Administration Bureau:PT Datindo Entrycom

Seluruh hasil keputusan RUPS Tahunan dan RUPS Luar Biasa yang diselenggarakan di tahun 2018, telah ditindaklanjuti dan dilaksanakan pada tahun 2018 dan 2019.

PENYELENGGARAAN RUPS DI SEPANJANG TAHUN 2019Sepanjang tahun 2019, Perseroan mengadakan 1 (satu) kali RUPS Tahunan dengan rincian sebagai berikut:

RUPSGMS

TanggalDate

Kuorum KehadiranAttendance Quorum

RUPS TahunanAnnual GMS

11 April 2019April 11, 2019

5.359.021.414 atau 73,426%5,359,021,414 or 73.426%

Proses penyelenggaraan Rapat Umum Pemegang Saham Tahunan dan Rapat Umum Pemegang Saham Luar Biasa dilaksanakan berdasarkan Peraturan Otoritas Jasa Keuangan No. 32/ POJK.04/2014 tentang Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka sebagaimana telah diubah menjadi Peraturan Otoritas Jasa Keuangan No. 10/POJK.04/2017 tentang Perubahan atas Peraturan Otoritas Jasa Keuangan No. 32/POJK.04/2014.

Proses rencana dan pelaksanaan RUPS Tahunan tersebut telah tertuang dalam surat Perseroan yang telah disampaikan kepada Otoritas Jasa keuangan (OJK) serta melakukan pemasangan iklan pada surat kabar berbahasa Indonesia dan berperadaran nasional serta diumumkan melalui website Perseroan dan website Bursa Efek Indonesia.

Berikut adalah tahapan tata waktu penyelenggaraan RUPS Tahunan Tahun Buku 2018 dan RUPS Luar Biasa tahun 2018:

All decisions of the Annual GMS and Extraordinary GMS held in 2018 have been followed up and carried out in 2018 and 2019.

2019 GMS IMPLEMENTATIONThroughout 2019, the Company held 1 (one) Annual GMS with the following details:

The process of organizing the Annual General Meeting of Shareholders and the Extraordinary General Meeting of Shareholders is carried out based on Financial Services Authority Regulation No. 32/POJK.04/2014 concerning Plans and Organizing of a Public Company Shareholders General Meeting as amended by Financial Services Authority Regulation No. 10/POJK.04/2017 concerning Amendments to the Financial Services Authority Regulation No. 32/POJK.04/2014.

The process of planning and implementing the Annual GMS has been stated in the Company's letter that has been submitted to the Financial Services Authority (OJK) as well as placing advertisements in Indonesian language newspapers and national awareness and announced on the Company's website and the Indonesia Stock Exchange website.

The following are the stages of the timeline for holding the 2018 Annual GMS and the 2018 Extraordinary GMS:



No. AktifitasActivity

WaktuTime

RUPS Luar Biasa 5 Maret 2018

EGMSMarch 5, 2018

RUPS Luar Biasa31 Agustus 2018

EGMSAugust 31, 2018

RUPS Tahunan11 April 2019

AGMSApril 11, 2019

1. Pemberitahuan kepada OJKNotification to OJK

18 Januari January 18

18 JuliJuly 18

26 FebruariFebruary 26

2. Pengumuman RUPS melalui surat kabar dan surat kepada OJKGMS announcement through newspaper and letter to OJK

25 Januari January 25

25 JuliJuly 25

5 Maret March 5

3. Pemanggilan RUPS melalui surat kabar dan surat kepada OJKGMS invitation through newspaper and letter to OJK


9 AgustusAugust 9

20 MaretMarch 20

4. Penyampaian Ringkasan risalah RUPSSubmission of the summary of GMS minutes

6 MaretMarch 6

3 SeptemberSeptember 3

12 AprilApril 12

5. Penyampaian Risalah RUPSSubmission of GMS minutes

2 AprilApril 2

25 SeptemberSeptember 23

10 MeiMay 10

KETENTUAN KUORUMKuorum kehadiran dan kuorum keputusan RUPS untuk mata acara yang harus diputuskan dalam RUPS dilakukan dengan mengikuti ketentuan berdasarkan Peraturan Otoritas Jasa Keuangan dan Anggaran Dasar Perseroan,

RUPSGMS

TanggalDate No.

RUPS Luar BiasaEGMS

5 Maret 2018March 5, 2018

4.803.286.956 atau 65,811%4.803.286.956 or 65,811%

RUPS Luar BiasaEGMS


5.213.987.859 atau 71,439%5.213.987.859 or 71,439%

RUPS TahunanAGMS

14 April 2019April 14, 2019

5.359.021.414 atau 73,426%5.359.021.414 or 73,426%

KEHADIRAN DALAM RUPSRUPS Tahunan dan RUPS Luar Biasa dihadiri oleh anggota Dewan Komisaris, Direksi, Pemegang Saham Mayoritas dan Pemegang saham lainnya dan atau kuasanya serta dihadiri juga oleh Lembaga Penunjang Pasar Modal, sebagaimana yang terlampir berikut ini:

Kehadiran Dewan Komisaris dan Direksi dalam RUPSPresence of the Board of Commissioners and Directors in the GMS

NamaName

JabatanPosition

Keanggotaan pada KomiteCommittee Membership

KehadiranAttendance

RUPS Tahunan Tahun Buku 2018 – 11 April 2019Annual General Meeting of Shareholders 2018 Fiscal Year - April 11, 2019Narendra Widjajanto Komisaris Utama

President CommissionerTidak adaNo Membership

HadirPresent

Pradana Ramadhian G.

Komisaris IndependenIndependent Commissioner

Ketua Komite AuditHead of Audit Committee

HadirPresent


Anggota Komite Manajemen RisikoKetua Komite Nominasi dan RemunerasiMember of Risk Management CommitteeHead of Nomination and Remuneration Committee

HadirPresent

Afdal Martha KomisarisCommissioner

Ketua Komite Manajemen RisikoHead of Risk Management Committee

HadirPresent

Eman Salman Arief KomisarisCommissioner

Anggota Komite Nominasi dan RemunerasiMember of Nomination and Remuneration Committee

HadirPresent

Tolingul Anwar Direktur UtamaPresident Director

Tidak adaNo Membership

HadirPresent


Direktur Operasi Director of Operation


HadirPresent



HadirPresent

RM Happy Parighadi Direktur SDM & UmumDirector of HR & General


HadirPresent

QUORUM REQUIREMENTSThe attendance quorum and the GMS decision quorum for the agenda that must be decided in the GMS are carried out in accordance with the provisions based on the Financial Services Authority Regulation and the Company's Articles of Association.

GMS ATTENDANCEThe Annual GMS were attended by members of the Board of Commissioners, Directors, Majority Shareholders and other shareholders and or their proxies and were also attended by Capital Market Supporting Institutions, as attached below:


Kehadiran Dewan Komisaris dan Direksi dalam RUPSPresence of the Board of Commissioners and Directors in the GMS

NamaName

JabatanPosition

Keanggotaan pada KomiteCommittee Membership

KehadiranAttendance

Arief Riyanto Direktur Pengembangan UsahaDirector of Business Developmen


HadirPresent

RUPS Luar Biasa - 5 Maret 2018Extraordinary GMS - March 5, 2018Syamsu Alam Komisaris Utama


Tidak HadirAbsent

Pradana Ramadhian Komisaris IndependenIndependent Commissioner


HadirPresent

Rinaldi Firmansyah Komisaris IndependenIndependent Commissioner

Anggota Komite Manajemen RisikoKetua Komite Nominasi dan RemunerasiMember of Risk Management CommitteeHead of Nomination and Remuneration Committee

HadirPresent

Budhi Himawan KomisarisCommissioner

Ketua Komite Manajemen RisikoHead of Risk Management Committee

HadirPresent

Yudo Irianto KomisarisCommissioner

Anggota Komite Nominasi dan RemunerasiMember of Nomination and Remuneration Committee

HadirPresent



HadirPresent




HadirPresent

Budi Rahardjo Direktur KeuanganDirector of Finance


HadirPresent

RM Happy Parighadi Direktur SDM & UmumDirector of HR & General


HadirPresent

Budhi N. Pangaribuan Direktur Pengembangan UsahaDirector of Business Development


HadirPresent

RUPS Luar Biasa – 31 Agustus 2018Extraordinary GMS - August 31, 2018Gigih Prakoso Komisaris Utama


HadirPresent

Pradana Ramadhian Komisaris IndependenIndependent Commissioner


HadirPresent


Anggota Komite Manajemen RisikoMember of Risk Management Committee

HadirPresent

Narendra Widjajanto KomisarisCommissioner

Ketua Komite Manajemen RisikoRisk Management Committee

HadirPresent

Yudo Irianto KomisarisCommissioner

Anggota Komite Nominasi dan RemunerasiMember of Risk Management Committee

HadirPresent



HadirPresent




HadirPresent

RM Happy Paringhadi Direktur SDM & Umum merangkap Direktur KeuanganHuman Resources & General Director concurrently Director of Finance


HadirPresent

Kehadiran Lembaga Penunjang Pasar ModalThe presence of Capital Market Supporting Institutions

Lembaga Penunjang Pasar ModalCapital Market Supporting Institutions

RUPS Luar Biasa 5 Maret 2018Extraordinary GMSMarch 5, 2018

RUPS Luar Biasa31 Agustus 2018Extraordinary GMSAugust 31, 2018

RUPS Tahunan11 April 2019Annual GMSApril 11, 2019

Kantor Akuntan PublikPublic Accountant FirmSecurities

- - Purwantono, Sungkoro & Surja

Biro Administrasi EfekAdministration Bureau

PT Datindo Entrycom PT Datindo Entrycom PT Datindo Entrycom

NotarisNotary

Aulia Taufani S.H. Aulia Taufani S.H. Aulia Taufani S.H.



Dalam Rapat, Pemimpin Rapat juga memberikan kesempatan kepada pemegang saham atau kuasanya untuk mengajukan pertanyaan/tanggapan dan/atau usulan pada setiap mata acara rapat.

RUPS TAHUNAN 2019Hasil keputusan RUPS Tahunan tanggal 11 April 2019 beserta pelaksanaannya dan tindak lanjutnya oleh Manajemen Perseroan adalah sebagai berikut:

No. Mata AcaraAgenda

KeputusanDecision


1. Persetujuan Laporan Ta h u n a n 2 0 1 8 termasuk di dalamnya Laporan Pengawasan Dewan Komisaris dan Pengesahan Laporan Keuangan Perseroan yang berakhir pada tanggal 31 Desember 2018.

Approval of the 2018 Annual Report including the Supervisory Report of the Board of Commissioners and Ratification of the Company's Financial Statements which ended on December 31, 2018.

1. Menyetujui dan mengesahkan Laporan Tahunan Perseroan Tahun Buku 2018, termasuk Laporan Pengawasan Dewan Komisaris Perseroan Tahun Buku 2018;

2. Mengesahkan Laporan Keuangan Konsolidasian Perseroan dan Entitas Anak tanggal 31 Desember 2018 dan untuk tahun yang berakhir pada tanggal tersebut yang telah diaudit oleh Kantor Akuntan Publik Purwantono, Sungkoro & Surja (“Ernst & Young”) sesuai dengan laporannya No. 00064/2.1032/AU.1/02/0701-1/1/II/2019 tertanggal 14 Februari 2019; dengan pendapat “wajar, dalam semua hal yang material” dan dengan demikian memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (acquit et de charge) kepada anggota Direksi dan Dewan Komisaris atas pengurusan dan pengawasan yang telah dijalankan selama Tahun Buku 2018, sepanjang:

a. tindakan tersebut bukan merupakan tindakan pidana dan/atau tindakan yang bertentangan dengan peraturan perundangan yang berlaku, serta tindakan tersebut telah tercermin dalam Laporan Tahunan dan Laporan Keuangan Perseroan.

Rapat menyetujui dengan jumlah suara bulat sebanyak 5.359.021.414 saham atau 100% dari jumlah suara yang dikeluarkan secara sah dalam rapat.

1. Approved and ratified the Company's Annual Report for Fiscal Year 2018, including the Board of Commissioners' Supervisory Report for Fiscal Year 2018;

2. Ratified the Consolidated Financial Statements of the Company and Subsidiaries as of December 31, 2018 and for the year ended on that date that had been audited by Purwantono, Sungkoro & Surja ("Ernst & Young") Public Accountants according to their report No. 00064/2.1032/AU.1/02/0701-1/1/II/2019 dated February 14, 2019; with the opinion "reasonable, in all material respects" and thereby provide full settlement and acquittal of responsibility (acquit et de charge) to members of the Board of Directors and Board of Commissioners for the management and supervision that has been carried out during Fiscal Year 2018, as long as:a. the action does not constitute a criminal offense and/or action which is

contrary to the applicable laws and regulations, as well as These actions have been reflected in the Company's Annual Report and Financial Report.

The meeting came to an agreement based on a total of 5,359,021,414 shares or 100% of the total number of votes cast legally at the meeting.

Telah ditindaklanjutiHas been followed up

2. Penetapan penggunaan Laba Bersih Perseroan Tahun Buku 2017

1. Menyetujui menetapkan penggunaan Laba Bersih Perseroan (yang diatribusikan kepada pemilik entitas induk) untuk Tahun Buku 2018 yang tercatat sebesar Rp276.314.000.000 sebagai berikut :

a. Sebesar Rp1.000.000.000 (satu miliar rupiah) atau 0,36% dari Laba Bersih Tahun Buku 2018 ditetapkan sebagai Cadangan Umum.

b. Sebesar Rp69.078.500.000 (enam puluh sembilan miliar tujuh puluh delapan juta lima ratus ribu rupiah) atau 25% dari Laba Bersih Tahun Buku 2018 ditetapkan sebagai Dividen Tunai untuk Tahun Buku 2018.

c. Sebesar Rp206.235.500.000 (dua ratus enam miliar dua ratus tiga puluh lima juta lima ratus ribu rupiah) atau 74,64% dari Laba Bersih Tahun Buku 2018 akan menjadi Laba Ditahan atau Retained Earning Perseroan.

2. Memberikan kuasa dan melimpahkan wewenang kepada Direksi Perseroan untuk mengatur tata cara pembayaran dividen tunai termaksud.

Rapat menyetujui dengan jumlah bulat 5.359.021.414 saham atau 100% dari jumlah suara yang dikeluarkan secara sah dalam rapat.

• Tata Cara Pembayaran Dividen Tunai Tahun Buku 2018 tercantum dalam Pengumuman Hasil Keputusan RUPS Tahunan yang dipublikasikan di harian Investor Daily pada tanggal 12 April 2019.

• Pembayaran Dividen Tunai Tahun Buku 2018 telah dilakukan pada tanggal 10 Mei 2019.

In the Meeting, the Meeting Leader also provides an opportunity for shareholders or their proxies to submit questions/responses and/or proposals at each meeting agenda item.

2019 ANNUAL GMSThe results of the Annual General Meeting of Shareholders on April 11, 2019 and their implementation and follow-up by the Company Management are as follows:



KeputusanDecision


Determination of the use of the Company's Net Profit for Fiscal Year 2017

1. Approve to determine the use of the Company's Net Profit (attributed to the owner of the parent entity) for Fiscal Year 2018 which was recorded at Rp276,314,000,000 as follows:a. A total of Rp1,000,000,000 (one billion rupiah) or 0.36% of the 2018 Fiscal

Year Net Profit is determined as General Reserves.b. In the amount of Rp.69,078,500,000 (sixty nine billion seventy eight million

five hundred thousand rupiah) or 25% of the Net Profit for Fiscal Year 2018 is determined as Cash Dividend for Fiscal Year 2018.

c. Rp206,235,500,000 (two hundred six billion two hundred thirty-five million five hundred thousand rupiah) or 74.64% of the 2018 Fiscal Year Net Profit will become the Company's Retained Earnings.

2. To authorize and delegate authority to the Company's Directors to regulate the procedure for payment of the intended cash dividends.

The meeting agreed with a total number of 5,359,021,414 shares or 100% of the total votes cast legally at the meeting.

• Procedures for Payment of Cash Dividend for Fiscal Year 2018 are listed in the Announcement of the Results of the Annual GMS Decree published in the Investor Daily on April 12, 2019.

• Payment of Cash Dividend for Fiscal Year 2018 was made on May 10, 2019.

3. Penetapan Tantiem tahun 2018 dan Remunerasi tahun 2019 bagi anggota Direksi dan Dewan Komisaris

Establishment of the 2018 Tantiem and 2019 Remuneration for members of the Board of Directors and the Board of Commissioners

1. Memberikan kuasa dan wewenang kepada Dewan Komisaris Perseroan, dengan terlebih dahulu mendapat persetujuan pemegang saham Perseroan yaitu PT Pertamina (Persero) untuk menetapkan besaran Tantiem bagi anggota Direksi & Dewan Komisaris Perseroan untuk tahun buku 2018.

2. Memberikan kuasa dan wewenang kepada Dewan Komisaris Perseroan, dengan terlebih dahulu mendapat persetujuan pemegang saham Perseroan yaitu PT Pertamina (Persero) untuk menetapkan besaran gaji/honorarium, tunjangan dan fasilitas bagi anggota Direksi & Dewan Komisaris Perseroan untuk tahun 2019.

Rapat menyetujui dengan jumlah suara sebanyak 5.359.021.414 saham atau 100% dari jumlah suara yang dikeluarkan secara sah dalam rapat

1. To grant power and authority to the Company's Board of Commissioners, by first obtaining the approval of the Company's shareholders namely PT Pertamina (Persero) to determine the amount of tantiem for members of the Directors & Board of Commissioners of the Company for the 2018 fiscal year.

2. Giving power and authority to the Company's Board of Commissioners, by first obtaining the approval of the Company's shareholders namely PT Pertamina (Persero) to determine the amount of salary/honorarium, benefits and facilities for members of the Directors & Board of Commissioners of the Company for 2019.

The meeting agreed with the total vote of 5,359,021,414 shares or 100% of the total number of votes issued legally at the meeting

Telah ditindaklanjutiHas been followed up




KeputusanDecision


4. Penunjukan Akuntan Publik untuk Mengaudit Perhitungan Tahunan Perseroan Tahun Buku 2019.

Mendelegasikan kewenangan kepada Dewan Komisaris Perseroan untuk menunjuk Akuntan Publik Independen dari Kantor Akuntan Publik (KAP) untuk melakukan pemeriksaan atas Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2019 berikut besaran nilai jasanya, sesuai ketentuan dan peraturan yang berlaku, termasuk untuk menunjuk KAP pengganti bilamana karena sebab apapun juga berdasarkan ketentuan Pasar Modal di Indonesia apabila KAP yang ditunjuk tidak dapat melakukan tugasnya, dengan kriteria bahwa:1. KAP tersebut terdaftar di Otoritas Jasa Keuangan.2. KAP tersebut dalam afiliasi KAP empat besar (Big Four) di dunia.

Rapat menyetujui dengan jumlah suara sebanyak 5.052.177.914 saham atau 94,274% dari jumlah suara yang dikeluarkan secara sah dalam rapat

Berdasarkan Surat Keputusan Dewan Komisaris Nomor L8.014C-2019.041 tentang Keputusan Dewan Komisaris atas Penunjukan Kantor Akuntan Publik (KAP) dan/atau Akuntan Publik (AP) untuk Jasa Audit atas Jasa Laporan Keuangan Historis Tahunan Posisi 31 Desember 2019 PT Elnusa Tbk dan Entitas Anaknya.

Dewan Komisaris memutuskan:1. M e n u n j u k K A P

Purwantono, Sungkoro dan Surja (anggota firma Ernst & Young) dengan AP Sdr. Sinarta untuk melakukan audit atas jasa informasi keuangan historis tahunan posisi 31 Desember 2019 pada Elnusa dan Grup dengan perkiraan imbalan jasa sebesar Rp2.200.000.000,-

2. A g a r D i r e k s i mempersiapkan dokumen-dokumen terkait yang diperlukan dalam rangka pengadaan jasa KAP dan/atau AP tersebut.

Appointment of a Public Accountant to Audit the Company's Annual Calculations for the 2019 Fiscal Year

Delegating authority to the Company's Board of Commissioners to appoint an Independent Public Accountant from the Public Accountant Office (KAP) to conduct an audit of the Company's Financial Statements for the fiscal year ending on December 31, 2019 along with the amount of its service value, in accordance with applicable rules and regulations, including to appoint A substitute KAP if for any reason whatsoever based on the provisions of the Capital Market in Indonesia if the appointed KAP is unable to perform its duties, with the criteria that:1. The KAP is registered with the Financial Services Authority.2. The KAP is in affiliated with Big Four accountant offices in the world.

The meeting agreed with a total of 5,052,177,914 shares or 94.274% of the total votes casted legally at the meeting

Based on the Decree of the Board of Commissioners Number L8.014C-2019.041 concerning the Decision of the Board of Commissioners on the Appointment of a Public Accountant Office (KAP) and/or Public Accountant (AP) for Audit Services for the Annual Historical Financial Report Services Position as of December 31, 2019PT Elnusa Tbk and its Subsidiaries.

The Board of Commissioners decides:1. To a p p o i n t K A P

Purwantono, Sungkoro and Surja (member of the firm Ernst & Young) with the accountant Mr. Sinarta to conduct an audit of annual historical financial information services as of December 31, 2019 at Elnusa and the Group with an estimated service fee of Rp2,200,000,000

2. To order the Board of Directors to prepare the relevant documents requ i red for the procurement of the KAP and/or AP services.



KeputusanDecision


5. Persetujuan Perubahan Pengurus Perseroan

1. Memberhentikan dengan hormat Sdr. Pradana Ramadhian dari jabatannya selaku Komisaris Independen Perseroan terhitung efektif sejak tanggal penutupan Rapat Umum Pemegang Saham ini, disertai dengan ucapan terima kasih dan penghargaan yang setinggi-tingginya atas jasa dan pengabdiannya kepada Perseroan selama menjabat sebagai Komisaris Independen Perseroan.

2. Memberhentikan dengan hormat Sdr. Afdal Martha dari jabatannya selaku Komisaris Perseroan terhitung efektif sejak tanggal penutupan Rapat Umum Pemegang Saham ini, disertai dengan ucapan terima kasih dan penghargaan yang setinggi-tingginya atas jasa dan pengabdiannya kepada Perseroan selama menjabat sebagai Komisaris Perseroan.

3. Memberhentikan dengan hormat Sdr. Tolingul Anwar dari jabatannya selaku Direktur Utama Perseroan terhitung efektif sejak tanggal penutupan Rapat Umum Pemegang Saham ini, disertai dengan ucapan terima kasih dan penghargaan yang setinggi-tingginya atas jasa dan pengabdiannya kepada Perseroan selama menjabat sebagai Direktur Utama Perseroan.

4. Memberhentikan dengan hormat Sdr. Elizar Parlindungan Hasibuan dari jabatannya selaku Direktur Operasi Perseroan dan mengangkatnya menjadi Direktur Utama Perseroan untuk jangka waktu sampai dengan RUPS Tahunan untuk Tahun Buku 2019, terhitung efektif sejak tanggal penutupan Rapat Umum Pemegang Saham ini. Jabatan Direktur Operasi Perseroan sementara dirangkap oleh Direktur Pengembangan Usaha Perseroan sampai dengan ditetapkannya Direktur Operasi.

5. Mengangkat Sdr. Anis Baridwan sebagai Komisaris Independen Perseroan untuk jangka waktu 1 (satu) periode sebagaimana dimaksud dalam Anggaran Dasar Perseroan, terhitung efektif sejak tanggal penutupan Rapat ini.

6. Mengangkat Sdr. Antonius Ratdomopurbo sebagai Komisaris Perseroan untuk jangka waktu 1 (satu) periode sebagaimana dimaksud dalam Anggaran Dasar Perseroan, terhitung efektif sejak tanggal penutupan Rapat ini.

Dengan demikian setelah ditutupnya Rapat ini susunan pengurus Perseroan menjadi sebagai berikut:

DEWAN KOMISARISKomisaris Utama : Narendra WidjajantoKomisaris : Eman Salman AriefKomisaris : Antonius RatdomopurboKomisaris Independen : Lusiaga Levi SusilaKomisaris Independen : Anis Baridwan

DIREKSIDirektur Utama : Elizar Parlindungan Hasibuan Direktur Keuangan : Hery SetiawanDirektur SDM & Umum : RM Happy Paringhadi JSDirektur Pengembangan UsahaMerangkap Direktur Operasi : Arief Riyanto

Memberikan kuasa kepada Direksi Perseroan dengan hak substitusi untuk menyatakan keputusan Rapat mengenai perubahan pengurus Perseroan dalam akta tersendiri dihadapan Notaris dan untuk memohon pemberitahuan kepada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia sehubungan dengan perubahan pengurus Perseroan tersebut di atas, serta melakukan segala tindakan yang diperlukan dan disyaratkan oleh peraturan perundang-undangan yang berlaku.

Rapat menyetujui dengan jumlah suara sebanyak 5.246.575.614 saham atau 97,901% dari jumlah suara yang dikeluarkan secara sah dalam rapat

Telah ditindaklanjuti




KeputusanDecision


Approval of Change in Management of the Company

1. Respectfully dismiss Mr. Pradana Ramadhian from his position as an Independent Commissioner of the Company, effective as of the closing date of the General Meeting of Shareholders, accompanied by the highest thanks and appreciation for his services and services to the Company while serving as the Independent Commissioner of the Company.

2. Respectfully dismiss Mr. Afdal Martha from his position as Commissioner of the Company, effective as of the closing date of the General Meeting of Shareholders, accompanied by the highest thanks and appreciation for his services and services to the Company while serving as the Company's Commissioner.

3. Respectfully dismiss Mr. Tolingul Anwar from his position as President Director of the Company, effective as of the closing date of the General Meeting of Shareholders, accompanied by the highest gratitude and appreciation for his services and service to the Company while serving as President Director of the Company.

4. Respectfully dismiss Mr. Elizar Parlindungan Hasibuan from his position as Director of Operations of the Company and appointed him as the President Director of the Company for a period up to the Annual GMS for Fiscal Year 2019, effective as of the closing date of the General Meeting of Shareholders. The position of the Director of Operations of the Company is temporarily held by the Director of Business Development of the Company until the stipulation of the Director of Operations.

5. To appoint Mr. Anis Baridwan as the Independent Commissioner of the Company for a period of 1 (one) period as referred to in the Company's Articles of Association, effective from the closing date of this Meeting.

6. To appoint Mr. Antonius Ratdomopurbo as Commissioner of the Company for a period of 1 (one) period as referred to in the Articles of Association of the Company, effective as of the closing date of this Meeting.

Therefore, after the closing of this Meeting, the composition of the Company's management is as follows:

BOARD OF COMMISSIONERSPresident Commissioner : Narendra WidjajantoCommissioner : Eman Salman AriefCommissioner : Antonius RatdomopurboIndependent Commissioner : Lusiaga Levi SusilaIndependent Commissioner : Anis Baridwan

BOARD OF DIRECTORSManaging Director : Elizar Parlindungan HasibuanFinance Director : Hery SetiawanHR & General Director : RM Happy Paringhadi JSDirector of Business DevelopmentConcurrently Operations Director : Arief Riyanto

Granting power of attorney to the Company's Directors with substitution rights to declare the decision of the Meeting regarding changes in the management of the Company in a separate deed before the Notary and to request notification from the Minister of Law and Human Rights of the Republic of Indonesia in connection with the changes in the management of the Company mentioned above, as well as taking all necessary and required actions by applicable laws and regulations.

The meeting agreed with the total votes of 5,246,575,614 shares or 97,901% of the total number of votes cast legally at the meeting

Has been followed up

RUPS LUAR BIASA 2019Sepanjang tahun 2019, Perseroan tidak menggelar Rapat Umum Pemegang Saham Luar Biasa (RUPSLB).

2019 EXTRAORDINARY GMSSepanjang tahun 2019, Perseroan tidak menggelar Rapat Umum Pemegang Saham Luar Biasa (RUPSLB).


DEWAN KOMISARIS

Dewan Komisaris sebagai organ Perseroan yang bertugas dan bertanggung jawab secara kolektif untuk melakukan pengawasan dan memberikan nasihat kepada Direksi secara independen terkait dengan pelaksanaan tugas dan tanggung jawab Direksi dalam mengelola Perseroan serta memastikan bahwa Perseroan telah melaksanakan GCG.

Dewan Komisaris secara terus-menerus memantau efektivitas kebijakan perusahaan, kinerja dan proses pengambilan keputusan oleh Direksi, termasuk pelaksanaan strategi untuk memenuhi harapan para pemegang saham dan pemangku kepentingan lainnya. Hasil pengawasan disertai kajian dan pendapat Dewan Komisaris disampaikan pada RUPS sebagai bagian dari penilaian kinerja Direksi. Dewan Komisaris juga mengevaluasi dan menyetujui business plan perusahaan yang disusun Direksi.

DASAR HUKUM PENGANGKATAN DEWAN KOMISARIS1. Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan

Terbatas.2. Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014

tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

3. Anggaran Dasar Perusahaan Perseroan sebagaimana telah di ubah dengan Akta Nomor 30 tanggal 11 April tahun 2019.

MASA JABATAN DEWAN KOMISARISBerdasarkan Anggaran Dasar Perseroan, anggota Dewan Komisaris menjabat untuk jangka waktu terhitung sejak tanggal ditetapkan oleh RUPS dan berakhir pada penutupan RUPS Tahunan yang ke-3 setelah pengangkatannya, namun dengan tidak mengurangi hak dari RUPS untuk sewaktu-waktu dapat memberhentikan para anggota Dewan Komisaris sebelum masa jabatannya berakhir.

KOMPOSISI DAN SUSUNAN KEANGGOTAAN DEWAN KOMISARIS TAHUN 2019Komposisi dan jumlah anggota Dewan Komisaris ditetapkan oleh RUPS dengan memperhatikan visi, misi dan rencana strategi Perseroan untuk memungkinkan pengambilan keputusan yang efektif, tepat dan cepat serta dapat bertindak secara independen.

Berdasarkan Anggaran Dasar Perseroan dan Keputusan RUPS Tahunan Tahun Buku 2018 yang dilaksanakan pada tanggal 11 April 2019 yang tertuang dalam Akta Notaris Nomor 30 tanggal 11 April 2019 yang dibuat oleh Notaris Aulia Taufani, S.H., ditetapkan lima (5) orang sebagai anggota Dewan Komisaris yang bertugas untuk melakukan Pengawasan.

BOARD OF COMMISSIONERS

The Board of Commissioners as the organ of the Company is tasked with and is collectively responsible for supervising and providing advice to the Directors independently related to the implementation of the duties and responsibilities of the Board of Directors in managing the Company and ensuring that the Company has implemented GCG.

The Board of Commissioners continuously monitors the effectiveness of company policies, performance and decision making processes by the Directors, including the implementation of strategies to meet the expectations of shareholders and other stakeholders. The results of supervision are accompanied by a review and opinion of the Board of Commissioners submitted at the GMS as part of the Directors performance evaluation. The Board of Commissioners also evaluates and approves the company's business plan prepared by the Directors.

LEGAL BASIS FOR APPOINTING THE BOARD OF COMMISSIONERS1. Law Number 40 of 2007 concerning Limited Liability

Companies.2. Financial Services Authority Regulation Number 33/

POJK.04/2014 concerning Directors and Board of Commissioners of Issuers or Public Companies.

3. The Company's Articles of Association as amended by Deed Number 30 dated April 11, 2019.

TERM OF OFFICE OF THE BOARD OF COMMISSIONERSBased on the Company's Articles of Association, members of the Board of Commissioners serve for a period commencing from the date determined by the GMS and ending at the close of the 3rd Annual GMS after their appointment, but without prejudice to the right of the GMS at any time, may dismiss the members of the Board of Commissioners before his position is over.

COMPOSITION AND MEMBERSHIP OF THE BOARD OF COMMISSIONERS IN 2019The composition and number of members of the Board of Commissioners are determined by the General Meeting of Shareholders by taking into account the Company's vision, mission and strategic plan to enable effective, precise and quick decision making and can act independently.

Based on the Company's Articles of Association and Annual General Meeting Resolutions for Fiscal Year 2018 held on April 11, 2019 as set forth in Notarial Deed No. 30 dated April 11, 2019 made by Notary Aulia Taufani, S.H., five (5) members have been appointed as members of the Board of Commissioners on duty to conduct Oversight.



Adapun komposisi dan susunan Dewan Komisaris per 31 Desember 2019 adalah sebagai berikut:

Komposisi dan Susunan Dewan Komisaris per 31 Desember 2019Composition of the Board of Commissioners as of December 31, 2019

NamaName

JabatanPosition

Dasar PengangkatanAppointment Basis

Masa JabatanTerm of Office

Periode JabatanPosition Period

Narendra Widjajanto Komisaris UtamaPresident Commissioner

Akta Pernyataan Keputusan Rapat No. 36 tanggal 31 Agustus 2018 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Meeting Decree No. 36 dated August 31, 2018 which was made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

2018 – 2021 Ke-11st

Eman Salman Arief Komisaris Commissioner

Akta Pernyataan Keputusan Rapat No. 36 tanggal 31 Agustus 2018 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Meeting Decree No. 36 dated August 31, 2018 which was made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

2018 – 2021 Ke-11st

Antonius Ratdomopurbo Komisaris Commissioner

Akta Pernyataan Keputusan Rapat No. 30 tanggal 11 April 2019 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Meeting Decree No. 30 dated April 11, 2019 made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

2019 – 2022 Ke-11st


Akta Pernyataan Keputusan Rapat No. 25 tanggal 14 Mei 2018 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Meeting Decree No. 25 dated May 14, 2018 made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

2018-2021 Ke-11st

Anis Baridwan Komisaris IndependenIndependent Commissioner

Akta Pernyataan Keputusan Rapat No. 30 tanggal 11 April 2019 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Meeting Decree No. 30 dated April 11, 2019 made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

2019 – 2022 Ke-11st

Profil seluruh anggota Dewan Komisaris dapat dilihat pada bab Profil Perusahaan pada Laporan Tahunan ini halaman 72-76.

KRITERIA DAN PERSYARATAN DEWAN KOMISARIS

Seluruh anggota Dewan Komisaris yang diangkat dan diberhentikan oleh RUPS telah sesuai dengan Anggaran Dasar Perseroan serta sesuai dengan persyaratan yang terdapat dalam Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

Dewan Komisaris harus memenuhi syarat umum dan syarat khsusus yang juga tertuang dalam Board Manual Perseroan, yang mencakup antara lain:1. Persyaratan umum:

a. Orang perseorangan;b. Memiliki akhlak, moral dan integritas yang baik;c. Mampu melaksanakan perbuatan hukum;d. Tidak pernah dinyatakan pailit oleh pengadilan dalam

waktu lima tahun terakhir sebelum pencalonan;

The composition of the Board of Commissioners as of December 31 2019 are as follows:

The profiles of all members of the Board of Commissioners can be seen in the Company Profile chapter in this Annual Report page 72-76

CRITERIA AND REQUIREMENTS FOR THE BOARD OF COMMISSIONERSAll members of the Board of Commissioners who are appointed and dismissed by the GMS has complied with the Company's Articles of Association and the requirements contained in the Financial Services Authority Regulation Number 33/POJK.04/2014 concerning Directors and Board of Commissioners of Issuers or Public Companies.

The Board of Commissioners must meet the general requirements and special requirements which are also contained in the Company's Board Manual, which include:1. General requirements:

a. An individual;b. Having good character, morals and integrity;c. Able to carry out legal actions;d. The court has never declared bankruptcy in the last

five years before the nomination;


e. Tidak pernah menjadi Direktur yang dinyatakan bersalah oleh Pengadilan dalam waktu lima tahun terakhir sebelum pencalonan;

f. Tidak boleh ada hubungan keluarga sedarah sampai dengan derajat ketiga, baik menurut garis lurus maupun garis ke samping atau hubungan semenda (menantu atau ipar) dengan Direktur lain dan/atau Anggota Dewan Komisaris;

g. Berwatak baik dan mempunyai kemampuan untuk mengembangkan usaha guna kemajuan Perseroan;

h. Memiliki kompetensi, yaitu kemampuan dan pengalaman dalam bidang-bidang yang menunjang pelaksanaan tugas dan kewajiban Direksi;

i. Memiliki komitmen untuk mematuhi peraturan perundang-undangan yang berlaku;

j. Bukan pengurus partai politik dan/atau calon anggota legislatif.

2. Persyaratan khusus:a. Memiliki pengalaman menangani korporasi sebagai

senior management dan dapat memberikan rekomendasi serta solusi yang diperlukan;

b. Mampu dengan cepat memahami serta bersedia menerapkan prinsip-prinsip GCG dan ketentuan-ketentuan terkait dengan perusahaan terbuka dan pasar modal;

c. Memiliki kemampuan analisis dan selalu sistematis di dalam pengambilan keputusan;

d. Mempunyai rekam jejak yang bersih dari aspek integritas;

e. Memiliki kemampuan leadership yang baik serta sense of enterpreneurship;

f. Memiliki kemampuan komunikasi, networking dan interpersonal skill yang baik.

3. Pertimbangan lainnya:

Keberagaman komposisi anggota Dewan Komisaris dapat digunakan sebagai salah satu bahan pertimbangan dalam proses nominasi anggota Dewan Komisaris dengan memperhatikan pengetahuan, keahlian dan pengalaman yang sesuai dengan kebutuhan dan kondisi perusahaan sehingga mendapatkan komposisi yang optimal serta efektifitas dalam pengambilan keputusan.

Dewan Komisaris Perseroan diwajibkan untuk menandatangani surat pernyataan terkait dengan pemenuhan persyaratan tersebut di atas dan didokumentasikan oleh Perseroan.

KRITERIA DAN PERSYARATAN KOMISARIS INDEPENDEN

Selain mengacu pada kriteria dan persyaratan Dewan Komisaris, dalam menunjuk Komisaris Independen Perseroan mengacu pada kriteria tambahan antara lain:1. Bukan merupakan orang yang bekerja atau mempunyai

wewenang dan tanggung jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan Perusahaan tersebut dalam waktu 6 (enam) bulan terakhir, kecuali untuk pengangkatan kembali sebagai Komisaris Independen Perusahaan pada periode berikutnya.

e. Has never been a Director found guilty by the Court in the past five years prior to nomination;

f. There must not be blood relations up to the third degree, either in a straight line or sideways line or in a relationship (son-in-law or brother-in-law) with other Directors and/or Members of the Board of Commissioners;

g. Having a good character and having the ability to develop a business for the progress of the Company;

h. Having competence, namely the ability and experience in fields that support the implementation of the duties and obligations of the Board of Directors;

i. Having a commitment to comply with applicable laws and regulations;

j. Not a political party administrator and/or candidate legislative member.

2. Special requirements:a. Have experience handling corporations as senior

management and can provide recommendations and solutions as needed;

b. Be able to quickly understand and be willing to apply GCG principles and provisions related to publicly listed companies and capital markets;

c. Having analytical skills and always systematic in decision making;

d. Having a clean track record of integrity aspects;

e. Having good leadership skills and a sense of entrepreneurship;

f. Good communication, networking and interpersonal skills.

3. Other considerations:

The diversity of the composition of the Board of Commissioners’ members can be used as one of the considerations in the process of nominating members of the Board of Commissioners by taking into account the knowledge, expertise and experience in accordance with the needs and conditions of the company so as to obtain an optimal composition and effectiveness in decision making.

The Company’s Board of Commissioners is required to sign a statement relating to the fulfillment of the above requirements and documented by the Company.

CRITERIA AND REQUIREMENTS FOR INDEPENDENT COMMISSIONERSIn addition to referring to the criteria and requirements of the Board of Commissioners, in appointing an Independent Commissioner the Company refers to additional criteria including:1. Not a person who works or has the authority and

responsibility to plan, lead, control, or supervise the activities of the Company within the last 6 (six) months, except for reappointment as an Independent Commissioner of the Company in the following period.



2. Do not have shares either directly or indirectly in the Company.

3. Has no affiliation relationship with the Directors and/or other Members of the Board of Commissioners or the Company's major shareholders.

4. Do not have business relations, directly or indirectly, related to the Company's business activities.

These requirements must be fulfilled in full by all Independent Commissioners during his tenure. Based on the Financial Services Authority Regulation Number 33/POJK.04/2014 concerning Directors and Board of Commissioners of Issuers or Public Changes in article 20 paragraph (3) stipulates that the Company must place at least 30% of the total members of the Board of Commissioners. At present the Company has two (2) Independent Commissioners or 40% of the total members of the Board of Commissioners.

STATEMENT OF INDEPENDENCE OF INDEPENDENT COMMISSIONERSIn carrying out its duties and responsibilities, the independence of the Independent Commissioners is very important and needs to be maintained. Mr. Anis Baridwan and Mr. Lusiaga Levi Susila as Independent Commissioners are independent parties selected according to their abilities and background, and have fulfilled the requirements stipulated in POJK No. 33/POJK.04/2014 concerning Directors and Board of Commissioners of Public Issuers or Public Companies as described in the previous section.

The existence of Independent Commissioners in the Company always ensures that the supervision mechanism runs effectively and in accordance with statutory regulations. The criteria for determining the Company's Independent Commissioners are in accordance with POJK No. 33/POJK.04/2014 namely:1. Not a person who works or has the authority and

responsibility to plan, lead, control, or supervise the activities of the Company within the last 6 (six) months, except for reappointment as an Independent Commissioner of the Company in the following period.

2. Has no direct or indirect shares in the Company.

3. Has no affiliation with the Commissioners, Directors and Major Shareholders of the Company.

4. Has no direct or indirect business relationship with the Company.

2. Tidak mempunyai saham baik langsung maupun tidak langsung pada Perusahaan.

3. Tidak memiliki hubungan afiliasi dengan Direktur dan/atau Anggota Dewan Komisaris lainnya atau pemegang saham utama Perusahaan.

4. Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Perusahaan.

Persyaratan tersebut wajib dipenuhi secara penuh oleh semua Komisaris Independen selama menjabat. Berdasarkan Peraturan Otoritas Jasa Keuangan Nomor 33/ POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perubahaan Publik pada pasal 20 ayat (3) mengatur bahwa Perseroan minimal menempatkan sekurang-kurangnya 30% dari jumlah anggota Dewan Komisaris. Saat ini Perseroan memiliki dua (2) orang Komisaris Independen atau 40% dari jumlah anggota Dewan Komisaris.

PERNYATAAN INDEPENDENSI KOMISARIS INDEPENDENDalam menjalankan tugas dan tanggung jawabnya, independensi dari Komisaris Independen sangat penting dan peru dijaga. Bapak Anis Baridwan dan Bapak Lusiaga Levi Susila selaku Komisaris Independen merupakan pihak independen yang dipilih sesuai dengan kemampuan dan latar belakangnya, serta telah memenuhi syarat yang ditetapkan dalam POJK No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisairs Emiten atau Perusahaan Publik sebagaimana dijabarkan pada bagian sebelumnya.

Keberadaan Komisaris Independen yang ada di Perseroan senantiasa menjamin mekanisme pengawasan berjalan secara efektif dan sesuai dengan peraturan perundang-undangan. Adapun kriteria penentuan Komisaris Independen Perseroan sesuai dengan POJK No. 33/POJK.04.2014 yaitu:1. Bukan merupakan orang yang bekerja atau mempunyai

wewenang dan tanggung jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan Perseroan dalam waktu 6 (enam) bulan terakhir, kecuali untuk pengangkatan kembali sebagai Komisaris Independen Perseroan pada periode berikutnya.

2. Tidak mempunyai saham Perseroan baik langsung maupun tidak langsung.

3. Tidak mempunyai hubungan Afiliasi dengan Komisaris, Direksi dan Pemegang saham Utama Perseroan.

4. Tidak mempunyai hubungan usaha dengan Perseroan baik langsung maupun tidak langsung.


Komisaris IndependenIndependent

Commissioner

Kriteria IndependensiIndependence Criterion

Bukan sebagai orang yang bekerja atau mempunyai wewenang dan tanggung

jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan

Perseroan dalam waktu 6 (enam) bulan terakhir, kecuali untuk pengangkatan kembali sebagai

Komisaris Independen Perseroan pada periode berikutnya

Not as a person who works or has the authority and responsibility to plan, lead, control, or

supervise the activities of the Company within the last 6 (six) months, except for the reappointment as an Independent Commissioner of the Company

in the following period.

Tidak memiliki saham Perseroan baik

langsung maupun tidak langsung

Do not have Directly or indirectly has the Company’s shares

Tidak memiliki hubungan Afiliasi dengan Komisaris,

Direksi dan Pemegang saham Utama Perseroan

Do not have Affiliated with a member of the Board of

Commissioner, Board of Directors,

and Controlling Shareholders of the

Company

Tidak memiliki hubungan

usaha dengan Perseroan baik

langsung maupun tidak langsung

Do not have Directly or

Indirectly has a business

relationship with the Company

Lusiaga Levi Susila v v v v

Anis Baridwan v v v vv = ada | x = tidak ada v = yes | x = no

Adapun pernyataan independensi masing-masing Komisaris Independen sebagai berikut:

No. NamaName

JabatanPosition

Tanggal PernyataanStatement Date Status

1. Lusiaga Levi Susila Komisaris IndependenIndependent Commissioner

14 Mei 201814 May 2018

Pertama kali sebagai Komisaris IndependenFirst time as an Independent Commissioner

2. Anis Baridwan Komisaris IndependenIndependent Commissioner

11 April 201911 April 2019

Pertama kali sebagai Komisaris IndependenFirst time as an Independent Commissioner

Dengan demikian, Komisaris Independen Perseroan telah memenuhi kriteria sesuai dengan peraturan perundang-undangan yang berlaku.

The independence statement of each Independent Commissioner is as follows:

Accordingly, the Company's Independent Commissioners have fulfilled the criteria in accordance with the applicable laws and regulations.



PEDOMAN DAN TATA TERTIB KERJA DEWAN KOMISARISDewan Komisaris Perseroan memiliki Pedoman Kerja (Board Manual) yang menjadi acuan bagi Dewan Komisaris dalam menjalankan tugasnya agar selaras dengan praktik-praktik GCG. Pedoman Kerja Dewan Komisaris telah ditandatangani oleh Dewan Komisaris pada tanggal 2 Januari 2018 yang merupakan pemutakhiran dari pedoman yang sebelumnya tanggal 1 Januari 2015 dan telah dipublikasikan di situs web Perseroan dalam dua bahasa yaitu Bahasa Indonesia dan Bahasa Inggris. Pedoman Kerja tersebut dievaluasi secara berkala agar sejalan dengan prinsip- prinsip hukum perusahaan, ketentuan anggaran dasar, peraturan perundang-undangan yang berlaku, arahan dari pemegang saham serta best practices tata kelola perusahaan.

Adapun ruang lingkup pedoman kerja Dewan Komisaris, meliputi sebagai berikut:1. Fungsi Dewan Komisaris2. Tugas dan Kewajiban Dewan Komisaris3. Hak dan Wewenang Dewan Komisaris4. Pembagian Kerja Dewan Komisaris5. Persyaratan Dewan Komisaris6. Pengangkatan Dewan Komisaris7. Keanggotaan Dewan Komisaris8. Rangkap Jabatan9. Masa Jabatan Dewan Komisaris10. Pemberhentian Anggota Dewan Komisaris11. Pengunduran Diri Anggota Dewan Komisaris12. Pengisian Jabatan Lowong Anggota Dewan Komisaris

13. Keadaan Seluruh Anggota Dewan Komisaris Lowong14. Komisaris Independen15. Pengungkapan Kepemilikan Saham dan Hubungan Afiliasi16. Program Pengenalan dan Peningkatan Kapabilitas17. Waktu Kerja Dewan Komisaris18. Etika Jabatan Dewan Komisaris19. Rapat Dewan Komisaris20. Evaluasi Kinerja Dewan Komisaris21. Pertanggungjawaban Dewan Komisaris22. Organ Pendukung Dewan Komisaris23. Evaluasi Kinerja Komite Dewan Komisaris

TUGAS, KEWAJIBAN, DAN WEWENANG DEWAN KOMISARIS

Dewan Komisaris bertugas mengawasi dan memberikan nasihat kepada Direksi sebagai pengurus Perseroan yang pelaksanaan tugas, tanggung jawab, dan kewenangannya dilaporkan kepada RUPS. Untuk melaksanakan tugas dan tanggung jawabnya, lingkup pekerjaan Dewan Komisaris antara lain:1. Memberikan putusan terhadap usulan perbuatan hukum

Direksi yang memerlukan persetujuan tertulis.2. Memberikan tanggapan tertulis, untuk memberikan

pendapat dan saran kepada RUPS atau usulan perbuatan hukum yang akan dilaksanakan oleh Direksi yang diajukan kepada RUPS untuk mendapatkan persetujuan.

BOARD OF COMMISSIONERS CHARTERThe Board of Commissioners of the Company has a Work Manual (Board Manual) which serves as a reference for the Board of Commissioners in carrying out their duties to be in line with GCG practices. The Board of Commissioners' Work Guidelines were signed by the Board of Commissioners on January 2, 2018 which is an update of the guidelines previously dated January 1, 2015 and has been published on the Company's website in two languages namely Indonesian and English. The Work Guidelines are regularly evaluated so that they are in line with the principles of corporate law, provisions of the articles of association, applicable laws and regulations, directives from shareholders and best practices of corporate governance.

The scope of the work guidelines for the Board of Commissioners includes the following:1. Function of the Board of Commissioners2. Duties and Obligations of the Board of Commissioners3. Rights and Powers of the Board of Commissioners4. The Division of Work of the Board of Commissioners5. Requirements of the Board of Commissioners6. Appointment of the Board of Commissioners7. Membership of the Board of Commissioners8. Double Position9. Term of Office of the Board of Commissioners10. Dismissal of Members of the Board of Commissioners11. Resignation of Members of the Board of Commissioners12. Completion of Position for Member of the Board of

Commissioners13. The Condition of All Members of the Board of Commissioners14. Independent Commissioner15. Disclosure of Share Ownership and Affiliation Relations16. Capability Introduction and Enhancement Program17. Board of Commissioners' Working Time18. Ethics of Board of Commissioners Position19. Board of Commissioners Meeting20. Evaluation of the Performance of the Board of Commissioners21. Accountability of the Board of Commissioners22. Supporting Organs of the Board of Commissioners23. Evaluation of the Performance of the Board of Commissioners'

Committees

DUTIES, OBLIGATIONS, AND AUTHORITY OF THE BOARD OF COMMISSIONERSThe Board of Commissioners has the task of supervising and giving advice to the Directors as the management of the Company whose duties, responsibilities and authorities are reported to the GMS. To carry out its duties and responsibilities, the scope of work of the Board of Commissioners includes:1. Give a decision on the proposed legal action Directors who

need written approval.2. Provide written responses, to provide opinions and

suggestions to the GMS or proposed legal actions to be carried out by the Directors submitted to the GMS for approval.


3. Memastikan efektivitas sistem pengendalian internal.4. Melakukan penilaian kinerja Direksi dan dilaporkan kepada

RUPS.5. Memberikan arahan hal-hal penting mengenai perubahan

lingkungan bisnis yang diperkirakan akan berdampak besar pada usaha dan kinerja Perusahaan, secara tepat waktu dan relevan, maupun arahan strategis lainnya yang diperlukan.

Kemudian, selain wajib melaksanakan tugas dan tanggung jawabnya, Dewan Komisaris juga memiliki wewenang antara lain:1. Melihat buku, surat serta dokumen lainnya, memeriksa kas

untuk keperluan verifikasi dan lain-lain, surat berharga dan pemeriksaan kekayaan Perseroan.

2. Meminta penjelasan Direksi dan/atau pejabat lainnya mengenai segala persoalan yang menyangkut pengelolaan Perseroan.

3. Mengetahui segala kebijakan dan tindakan yang telah dan akan dijalankan oleh Direksi.

4. Memberhentikan untuk sementara waktu seorang atau lebih anggota Direksi dengan alasan tertentu sesuai dengan Anggaran Dasar.

5. Menunjuk salah seorang anggota Direksi untuk menjalankan pekerjaan anggota Direksi lainnya, dalam hal jabatan salah seorang anggota Direksi lowong sesuai dengan Anggaran Dasar.

6. Mendapatkan informasi mengenai kondisi Anak Perusahaan dari Direksi Anak Perusahaan.

7. Memberikan persetujuan atau penolakan secara tertulis terhadap rencana Direksi, di antaranya untuk mendirikan Anak Perusahaan dan melepaskan aktiva tetap sesuai batasan kewenangan yang telah ditetapkan.

PEMBAGIAN TUGAS DAN TANGGUNG JAWAB DEWAN KOMISARIS Dewan Komisaris mengatur sendiri pembagian kerja di antara para anggota dan untuk kelancaran tugasnya, Dewan Komisaris wajib membentuk Komite Audit, Komite Nominasi dan Remunerasi serta membentuk Komite lainnya. Jika dianggap perlu dalam melaksanakan tugasnya Dewan Komisaris dapat memperoleh bantuan tenaga ahli untuk hal tertentu dan jangka waktu tertentu atas beban Perseroan.

Namun demikian, fokus bidang pengawasan masing-masing anggota Dewan Komisaris mengacu pada pembagian peran sebagai ketua dan anggota dari Komite Penunjang Dewan Komisaris sesuai kompetensi dan pengalaman yang dimiliki.

PROGRAM ORIENTASI BAGI KOMISARIS BARUPerseroan melaksanakan program pengenalan bagi anggota Dewan Komisaris yang baru dengan tujuan memberikan gambaran atas aktivitas bisnis, rencana perusahaan ke depan, pedoman kerja dan hal lainnya yang menjadi tanggung jawab Dewan Komisaris. Program pengenalan disusun dan disampaikan oleh Corporate Secretary dalam bentuk tampilan presentasi serta hard copy, meliputi:

3. Ensuring the effectiveness of the internal control system.4. Conduct an assessment of the performance of the Directors

and be reported to the GMS.5. Provide direction on important matters regarding changes in the

business environment that are expected to have a major impact on the Company's business and performance, in a timely and relevant manner, as well as other strategic directions needed.

Then, in addition to being required to carry out its duties and responsibilities, the Board of Commissioners also has the authority to:1. Looking at books, letters and other documents, checking

cash for verification and other purposes, securities and examining the Company's assets.

2. Request clarification from the Board of Directors and/or other officials regarding all matters relating to the management of the Company.

3. Knowing all policies and actions that have been and will be carried out by the Directors.

4. Temporarily dismiss one or more members of the Board of Directors for certain reasons in accordance with the Articles of Association.

5. Appoint one member of the Board of Directors to carry out the work of another member of the Board of Directors, in the case that the position of one member of the Board of Directors is vacant in accordance with the Articles of Association.

6. Obtain information about the condition of the Subsidiary from the Directors of the Subsidiary.

7. Giving approval or rejection in writing to the Board of Directors' plans, including establishing a Subsidiary and releasing fixed assets according to established authority.

DISTRIBUTION OF DUTIES AND RESPONSIBILITIES OF THE BOARD OF COMMISSIONERSThe Board of Commissioners manages the division of labor among the members and for the smooth running of their duties, the Board of Commissioners must establish an Audit Committee, Nomination and Remuneration Committee and form other Committees. If deemed necessary in carrying out its duties the Board of Commissioners can obtain expert assistance for certain matters and certain periods at the Company's expense.

However, the focus of the supervision area of each member of the Board of Commissioners refers to the division of roles as chairman and members of the Board of Commissioners' Supporting Committees according to their competence and experience.

ORIENTATION PROGRAM FOR NEW COMMISSIONERSThe Company implements an introduction program for new members of the Board of Commissioners with the aim of providing an overview of business activities, future company plans, work guidelines and other matters that are the responsibility of the Board of Commissioners. The introduction program was prepared and delivered by the Corporate Secretary in the form of a presentation and hard copy, including:



1. Profil Perseroan2. Update Kinerja Perseroan3. Code of Conduct4. Board Manual5. Health, Safety, Security & Environment6. Rencana Kerja dan Anggaran (RKAP)7. Rencana Jangka Panjang Perusahaan

Di tahun 2019 Program Pengenalan Perseroan terhadap Dewan Komisaris yang baru dilakukan pada tanggal 22 April 2019 yang diikuti oleh 2 orang Komisaris, sebagai berikut:

No. Nama Name

JabatanPosition

Tanggal PelaksanaanProgram Date

1. Anis Baridwan Komisaris IndependenIndependent Commissioner

22 April 2019April 22, 2019

2. Antonius Ratdomopurbo KomisarisCommissioner

22 April 2019April 22, 2019

PENINGKATAN KOMPETENSI DEWAN KOMISARISPerseroan senantiasa memfasilitasi pelaksanaan program pengembangan sumber daya manusia mulai dari level teratas hingga bawah sebagai bentuk komitmen Perseroan dalam menciptakan SDM yang unggul dan berdaya saing. Tentang kegiatan peningkatan kompetensi yang diikuti Dewan Komisaris di sepanjang tahun 2019 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

PELAKSANAAN TUGAS DEWAN KOMISARIS TAHUN 2019

Uraian pelaksanaan tugas tahun 2019 dapat dilihat sebagai berikut:1. Realisasi Rencana Kerja Dewan Komisaris

a. Membuat laporan pelaksanaan pengawasan Dewan Komisaris Tahun Buku 2018.

b. Melakukan kajian dan memonitor kinerja Perseroan setiap bulan.

c. Mengevaluasi dan memberikan keputusan atas proposal investasi yang diajukan Direksi.

d. Mengevaluasi dan memberikan persetujuan Rencana Kerja dan Anggaran Perusahaan Tahun Buku 2020.

e. Menetapkan KAP untuk melakukan audit 31 Desember 2019.

f. Membuat Rencana Kerja dan Anggaran Dewan Komisaris Tahun Buku 2020

2. Kunjungan Kerja Dewan KomisarisLokasi Kunjungan KerjaWork Visit Location

TanggalDate

Peserta Kunjungan KerjaWork Visit Participant

PT Patra Nusa Data 21 Agustus 2019August 21, 2019


PT Sigma Cipta Utama 21 Agustus 2019August 21, 2019


PT Elnusa Petrofin 3 Desember 2019December 3, 2019

Dewan Komisaris, Komite di Bawah Dewan KomisarisBoard of Commissioners and the committees below it

1. Company Profile2. Update on Company Performance3. Code of Conduct4. Board Manual5. Health, Safety, Security & Environment6. Work Plan and Budget (RKAP)7. Long-term Corporate Plan

In 2019 the Company's Introduction to the Board of Commissioners program was only carried out on April 22, 2019. 2 Commissioners participated in the program, as follows:

COMPETENCE IMPROVEMENT OF THE BOARD OF COMMISSIONERSThe Company always facilitates the implementation of human resource development programs starting from the top level to the bottom as a form of the Company's commitment to create superior and competitive human resources. Concerning the competency improvement activities undertaken by the Board of Commissioners throughout 2019, can be seen in the chapter on Company Profile in this annual report.

IMPLEMENTATION OF THE BOARD OF COMMISSIONERS' TASKS IN 2019A description of the implementation of the assignment in 2019 can be seen as follows:1. Realization of the Board of Commissioners Work Plan

a. Making a report on the implementation of the Board of Commissioners' supervision for Fiscal Year 2018.

b. Reviewing and monitoring the performance of the Company every month.

c. Evaluating and providing decisions on investment proposals submitted by the Directors.

d. Evaluating and approving the Corporate Work Plan and Budget for Fiscal Year 2020.

e. Choosing a KAP to perform audit on December 31, 2019.

f. Making Board of Commissioners Work Plan and Budgt for Fiscal Year 2020.

2. Board of Commissioner’s Work Visit


3. Rekomendasi Dewan Komisarisa. Perseroan sebagai perusahaan terbuka dalam

menjalankan Perusahaan sedapat mungkin sesuai dengan peraturan dan perundang-undangan yang berlaku serta tata kelola perusahaan yang baik (Good Corporate Governance).

b. Health, Safety, Security and Environment merupakan aspek mendasar dalam operasional Perseroan. Seluruh entitas Perseroan dari mulai pekerja di lapangan hingga pihak manajemen, serta kontraktor pihak ketiga yang terlibat dengan kegiatan Perseroan diwajibkan mematuhi implementasi HSSE.

PENILAIAN KINERJA KOMITE DI BAWAH DEWAN KOMISARIS

Evaluasi terhadap kinerja anggota komite di bawah Dewan Komisaris dilakukan melalui penilaian antara lain meliputi kehadiran dalam rapat, kemampuan bekerja sama dan berkomunikasi secara aktif sesama anggota komite, integritas, kemampuan memahami visi, misi, dan rencana strategis Perseroan serta kualitas atas saran/rekomendasi yang diberikan terkait program kerja masing-masing komite.

Dalam melaksanakan tugasnya, Dewan Komisaris dibantu tiga Komite sebagai organ pendukung Dewan Komisaris yaitu:

1. Komite Audit yang dalam melaksanakan tugas dan tanggung jawab serta kewenangannya dilakukan sesuai dengan Piagam Komite Audit.

2. Komite Nominasi dan Remunerasi yang berfungsi membantu Dewan Komisaris dalam pelaksanaan penetapan nominasi dan remunerasi Dewan Komisaris dan Direksi Perseroan.

3. Komite Manajemen Risiko yang berfungsi membantu Dewan Komisaris memberikan masukan serta melakukan evaluasi sistem pengelolaan risiko, pengawasan internal dan menyediakan informasi kepada Dewan Komisaris mengenai masalah-masalah terkait untuk mengantisipasi risiko yang mungkin akan terjadi.

Dewan Komisaris memandang bahwa setiap komite tersebut telah menjalankan tugas dan tanggung jawabnya sesuai dengan ketentuan Tata Kelola Perusahaan yang Baik dan memberikan masukan yang bernilai tambah bagi Dewan Komisaris dalam menjalankan fungsi pengawasannya. Sesuai dengan piagam komite masing-masing, setiap komite bekerja aktif membantu Dewan Komisaris dalam melakukan analisis, evaluasi dan kajian dalam rangka menyiapkan masukan sebagai pertimbangan Dewan Komisaris terkait dengan permintaan persetujuan, dukungan, saran dan tanggapan dari Direksi.

3. Recommendations from the Board of Commissionersa. The Company as a public company should, as far as

possible, be ran in accordance with applicable laws and regulations as well as good corporate governance.

b. Health, Safety, Security and Environment are fundamental aspects in the Company's operations. All Company entities, from field workers to management, as well as third party contractors involved in the Company's activities are required to comply with HSSE implementation.

COMMITTEE PERFORMANCE EVALUATION UNDER THE BOARD OF COMMISSIONERSEvaluation of the performance of committee members under the Board of Commissioners is carried out through assessments which include attendance at meetings, ability to cooperate and actively communicate with fellow committee members, integrity, ability to understand the Company's vision, mission, and strategic plan as well as the quality of suggestions/recommendations given related to the work program of each committee.

In carrying out its duties, the Board of Commissioners is assisted by three Committees as supporting organs for the Board of Commissioners, namely:1. The Audit Committee, whose tasks and responsibilities are

carried out in accordance with the Audit Committee Charter.

2. The Nomination and Remuneration Committee whose function is to assist the Board of Commissioners in implementing the determination of the nomination and remuneration of the Company's Board of Commissioners and Directors.

3. The Risk Management Committee, which functions to assist the Board of Commissioners, provide input and evaluate the risk management system, internal supervision and provide information to the Board of Commissioners regarding issues related to anticipating risks that may occur.

The Board of Commissioners considers that each of these committees has carried out their duties and responsibilities in accordance with the provisions of Good Corporate Governance and provided valuable added input for the Board of Commissioners in carrying out their supervisory functions. In accordance with the respective committee charter, each committee works actively to assist the Board of Commissioners in conducting analysis, evaluation and study in order to prepare input as a consideration of the Board of Commissioners related to requests for approval, support, suggestions and responses from the Directors.



DIREKSI

Direksi adalah organ perusahaan yang bertugas dan bertanggung jawab secara kolektif untuk melakukan pengelolaan atas Perseroan untuk kepentingan dan tujuan Perseroan sesuai dengan ketentuan Anggaran Dasar serta melaksanakan GCG pada seluruh tingkatan atau jenjang organisasi. Dalam melaksanakan tugasnya Direksi bertanggung jawab kepada RUPS sebagi bentuk perwujudan akuntabilitas pengelolaan perusahaan sesuai dengan prinsip- prinsip tata kelola perusahaan.

DASAR HUKUM PENGANGKATAN DIREKSI1. Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas2. Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014

tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

3. Anggaran Dasar Perseroan sebagaimana telah diubah dengan Akta No. 29 tanggal 11 April 2019.

MASA JABATAN DIREKSIBerdasarkan Anggaran Dasar Perseroan, anggota Direksi menjabat untuk jangka waktu terhitung sejak tanggal ditetapkan oleh RUPS dan berakhir pada penutupan RUPS Tahunan yang ke-3 setelah pengangkatannya.

KOMPOSISI DAN SUSUNAN DIREKSI TAHUN 2019Komposisi Direksi Perseroan harus sedemikian rupa disesuaikan dengan besarnya kegiatan kompleksitas bisnis Perseroan dan struktur organisasi sehingga memungkinkan pengambilan putusan yang efektif, tepat dan cepat dalam rangka pencapaian tujuan-tujuan Perseroan.

Berdasarkan Anggaran Dasar Perseroan dan Keputusan RUPS Tahunan yang dilaksanakan pada tanggal 11 April 2019 yang tertuang dalam Akta Notaris Nomor 29 tanggal 11 April 2019 yang dibuat oleh Notaris Aulia Taufani S.H. ditetapkan 4 (empat) orang sebagai anggota Direksi yang bertugas untuk melakukan pengurusan Perseroan.

Adapun komposisi dan susunan Direksi per 31 Desember 2019 adalah sebagai berikut:

Komposisi dan Susunan Direksi per 31 Desember 2019Composition of the Board of Directors as of December 31, 2019

NamaName


JabatanPosition



Akta Pernyataan Keputusan Rapat No. 30 tanggal 11 April 2019 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Resolutions No. 30 dated April 11, 2019 made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City


Ke-11st

Hery Setiawan Akta Pernyataan Keputusan Rapat No. 36 tanggal 31 Agustus 2018 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Resolutions No. 36 dated August 31, 2018 which was made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

Direktur KeuanganDirector of Finance

Ke-11st

RM Happy Paringhadi

Akta Pernyataan Keputusan Rapat No. 73 tanggal 19 Mei 2017 yang dibuat dihadapan Fathiah Helmy, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Resolutions No. 73 dated May 19, 2017 made before Fathiah Helmy, S.H. Notary in South Jakarta Administrative City

Direktur SDM & UmumDirector of Human Resources and General Affairs

Ke-11st

THE BOARD OF DIRECTORS

The Board of Directors is a corporate organ that is tasked with and is collectively responsible for managing the Company for the interests and objectives of the Company in accordance with the provisions of the Articles of Association and implementing GCG at all levels or levels of the organization. In carrying out its duties the Board of Directors is responsible to the GMS as a form of the realization of the accountability of company management in accordance with the principles of corporate governance.

LEGAL BASIS FOR APPOINTMENT OF DIRECTORS1. Law No. 40 of 2007 concerning Limited Liability Companies2. Financial Services Authority Regulation No. 33/POJK.04/2014

concerning Directors and Board of Commissioners of Issuers or Public Companies.

3. The Company's Articles of Association as amended by Deed No. 29 dated April 11, 2019.

TERM OF OFFICE OF DIRECTORSBased on the Company's Articles of Association, members of the Board of Directors hold office for a period commencing from the date set by the GMS and ending at the close of the 3rd Annual GMS after their appointment.

COMPOSITION OF DIRECTORS IN 2019The composition of the Company's Board of Directors must be adjusted in accordance with the magnitude of the Company's business complexity activities and organizational structure so as to enable effective, precise and fast decision making in order to achieve the Company's objectives.

Based on the Company's Articles of Association and the Resolution of the Annual General Meeting of Shareholders held on April 11, 2019 as stipulated in Notarial Deed No. 29 dated April 11, 2019 made by Notary Aulia Taufani, S.H, 4 (four) members were appointed as members of the Board of Directors in charge of managing the Company.

The composition of the Board of Directors as of December 31, 2019 is as follows:


Komposisi dan Susunan Direksi per 31 Desember 2019Composition of the Board of Directors as of December 31, 2019

NamaName


JabatanPosition


Arief Riyanto Akta Pernyataan Keputusan Rapat No. 36 tanggal 31 Agustus 2018 yang dibuat dihadapan Aulia Taufani, S.H. Notaris di Kota Administrasi Jakarta SelatanDeed of Resolutions No. 36 dated August 31, 2018 which was made before Aulia Taufani, S.H. Notary in South Jakarta Administrative City

Direktur Pengembangan Usaha merangkap Direktur OperasiDirector of Business Development concurrently as Director of Operations

Ke-11st

Profil seluruh anggota Dewan Komisaris dapat dilihat pada bab Profil Perusahaan pada Laporan Tahunan ini.

KRITERIA DAN PERSYARATAN DIREKSISeluruh anggota Direksi yang diangkat dan diberhentikan oleh RUPS telah sesuai dengan Anggaran Dasar Perseroan serta sesuai dengan persyaratan yang terdapat dalam Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.

Direksi harus memenuhi syarat umum dan syarat khsusus yang juga tertuang dalam Board Manual Perseroan, yang mencakup antara lain:1. Persyaratan umum:

a. Orang perseorangan;b. Memiliki akhlak, moral dan integritas yang baik;c. Mampu melaksanakan perbuatan hukum;d. Tidak pernah dinyatakan pailit oleh pengadilan dalam

waktu lima tahun terakhir sebelum pencalonan;e. Tidak pernah menjadi Direktur yang dinyatakan

bersalah oleh Pengadilan dalam waktu lima tahun terakhir sebelum pencalonan;

f. Tidak boleh ada hubungan keluarga sedarah sampai dengan derajat ketiga, baik menurut garis lurus maupun garis ke samping atau hubungan semenda (menantu atau ipar) dengan Direktur lain dan/atau Anggota Dewan Komisaris;

g. Tidak boleh merangkap jabatan lain yang dapat menimbulkan benturan kepentingan secara langsung atau tidak langsung dengan Perseroan dan atau yang bertentangan dengan ketentuan peraturan perundang- undangan yang berlaku;

h. Memiliki integritas dan moral yang baik;i. Berwatak baik dan mempunyai kemampuan untuk

mengembangkan usaha guna kemajuan Perseroan;j. Memiliki kompetensi, yaitu kemampuan dan

pengalaman dalam bidang-bidang yang menunjang pelaksanaan tugas dan kewajiban Direksi;

k. Memiliki komitmen untuk mematuhi peraturan perundang-undangan yang berlaku;

l. Bukan pengurus partai politik dan/atau calon anggota legislatif.

2. Persyaratan khusus:a. Memiliki pengalaman menangani korporasi sebagai

senior management dan dapat memberikan rekomendasi dan solusi yang diperlukan;

b. Memahami ketentuan-ketentuan terkait dengan perusahaan terbuka dan pasar modal;

c. Berani dan cepat (less bureaucracy) di dalam pengambilan keputusan;

The profiles of all members of the Board of Directors can be seen in the Company Profile chapter in this Annual Report.

DIRECTORS' CRITERIA AND REQUIREMENTSAll members of the Board of Directors who are appointed and dismissed by the GMS complied with the Company's Articles of Association and the requirements contained in the Financial Services Authority Regulation Number 33/POJK.04/2014 concerning Directors and Board of Commissioners of Issuers or Public Companies.

The Board of Directors must meet the general requirements and special requirements which are also stipulated in the Company's Board Manual, which include:1. General requirements:

a. An individual;b. Having good character, morals and integrity;c. Able to carry out legal actions;d. The court has never declared bankruptcy in the last

five years before the nomination;e. Has never been a Director found guilty by the Court in

the past five years prior to nomination;

f. There must not be blood relations up to the third degree, either in a straight line or sideways line or in a relationship (son-in-law or brother-in-law) with other Directors and/or Members of the Board of Commissioners;

g. May not concurrently hold another position that may cause a conflict of interest directly or indirectly with the Company and or which is in conflict with the provisions of the applicable laws and regulations;

h. Having integrity and good morals;i. Having a good character and having the ability to

develop a business for the progress of the Company;j. Having competence, namely the ability and experience

in fields that support the implementation of the duties and obligations of the Board of Directors;

k. Having a commitment to comply with applicable laws and regulations;

l. Not a political party administrator and/or candidate legislative member.

2. Special requirements:a. Having experience handling corporations as senior

management and can provide recommendations and solutions as needed;

b. Understand the provisions relating to publicly listed companies and capital markets;

c. Daring and fast (less bureaucracy) in decision making;



d. Mempunyai rekam jejak yang bersih dari aspek integritas;e. Memiliki leadership, sense of enterpreneurship dan

pengalaman;f. Networking yang memadai dan interpersonal skill.

3. Pertimbangan lainnya:Keberagaman komposisi anggota Direksi dapat digunakan sebagai salah satu bahan pertimbangan dalam proses nominasi dan suksesi anggota Direksi dengan memperhatikan pengetahuan, keahlian dan pengalaman yang sesuai dengan kebutuhan dan kondisi perusahaan sehingga mendapatkan komposisi yang optimal serta efektifitas dalam pengambilan keputusan. Direksi Perseroan diwajibkan untuk menandatangani surat pernyataan terkait dengan pemenuhan persyaratan tersebut di atas dan didokumentasikan oleh Perseroan.

Pengangkatan Direksi Perseroan telah melalui proses fit & proper test (uji kemampuan dan kepatutan) yang dilakukan oleh pemegang saham pengendali sesuai dengan peraturan perundangan-undangan yang berlaku dan ketentuan tata kelola perusahaan, untuk kemudian diajukan kepada RUPS untuk dilakukan proses selanjutnya.

Berikut adalah status uji kemampuan dan kepatutan Direksi Perseroan yang menjabat sampai dengan akhir Desember 2019:

NamaName

JabatanPosition

Hasil fit & proper testFit & proper test result

PelaksanaTest implementor

Elizar Parlindungan Hasibuan Direktur UtamaPresident Director

LulusPassed

PT Pertamina (Persero) selaku

Pemegang Saham Pengendali

PT Pertamina (Persero) as

the Controlling Shareholders.


LulusPassed

RM Happy Paringhadi Direktur SDM & UmumDirector of Human Resources and General Affairs

LulusPassed

Arief Riyanto Direktur Pengembangan Usaha merangkap Direktur OperasiDirector of Business Development concurrently as Director of Operations

LulusPassed

Keterangan terkait dengan keberagaman dalam pendidikan, pengalaman kerja dan usia dapat dilihat secara rinci pada Bab Profil Perusahaan, Sub Bab Identitas dan riwayat hidup singkat anggota Direksi.

PEDOMAN DAN TATA TERTIB KERJA DIREKSIDireksi Perseroan memiliki Pedoman Kerja (Board Manual) yang digunakan sebagai acuan dalam menjalankan tugas, tanggung jawab dan wewenangnya, Direksi berpedoman pada Board Manual. Board Manual tersebut berisi tentang petunjuk tata laksana kerja Direksi serta menjelaskan tahapan aktivitas secara terstruktur, sistematis, mudah dipahami dan dapat dijalankan dengan konsisten untuk menjadi acuan bagi Direksi dalam melaksanakan tugas sesuai dengan standar prinsip tata kelola perusahaan untuk mencapai visi misi Perusahaan. Board Manual tersebut senantiasa dilakukan evaluasi secara berkala agar sejalan dengan perubahan peraturan perundang-undangan yang berlaku dan praktik terbaik tata kelola Perusahaan yang disesuaikan dengan kebutuhan Perseroan.

Board Manual disusun berdasarkan prinsip-prinsip hukum perusahaan, ketentuan anggaran dasar, peraturan perundang- undangan yang berlaku, arahan dari pemegang saham serta best practices tata kelola perusahaan.

d. Having a clean track record of integrity aspects;e. Have leadership, sense of entrepreneurship and

experience;f. Adequate networking and interpersonal skills.

3. Other considerations:The diversity of the composition of the members of the Board of Directors can be used as one of the considerations in the process of nomination and succession of members of the Board of Directors by taking into account the knowledge, expertise and experience in accordance with the needs and conditions of the company so as to obtain an optimal composition and effectiveness in decision making. The Company's Directors are required to sign a statement relating to the fulfillment of the above requirements and are documented by the Company.

The appointment of the Board of Directors of the Company has gone through a fit & proper test process carried out by the controlling shareholder in accordance with applicable laws and regulations and corporate governance provisions, and then submitted to the GMS for further processing.

The following is the status of the fit and proper test of the Company's Directors who have served until the end of December 2019:

Information related to diversity in education, work experience and age can be seen in detail in the Company Profile Chapter, Identity Sub-Chapter and a brief curriculum vitae of members of the Board of Directors.

DIRECTORS' GUIDELINES AND RULES OF WORKThe Board of Directors of the Company has a Work Manual (Board Manual) which is used as a reference in carrying out its duties, responsibilities and authorities. Thus, the Board of Directors’ work is guided by the Board Manual. The Board Manual contains guidelines for the work procedures of the Directors and explains the stages of activities that are structured, systematic, easy to understand and can be carried out consistently to be a reference for Directors in carrying out tasks in accordance with the standards of corporate governance principles to achieve the Company's vision and mission. The Board Manual is regularly evaluated so that it is in line with changes in applicable laws and best practices of corporate governance that are tailored to the needs of the Company.

The Board Manual is prepared based on the principles of corporate law, provisions of the articles of association, applicable laws and regulations, directives from shareholders and best practices of corporate governance.


Adapun ruang lingkup pedoman kerja Direksi, meliputi sebagai berikut:1. Fungsi Direksi2. Tugas dan Kewajiban Direksi3. Hak dan Wewenang Direksi4. Persyaratan Direksi5. Proses Pengangkatan Direksi6. Keanggotaan Direksi7. Rangkap Jabatan Direksi8. Masa Jabatan Direksi9. Pemberhentian Anggota Direksi10. Pengunduran Diri Anggota Direksi11. Keadaan Anggota Direksi Lowong12. Pengalihan Tugas Sementara Anggota Direksi13. Rencana Pergantian atau Perubahan Direksi14. Independensi Direksi15. Pengungkapan Kepemilikan Saham dan Hubungan Afiliasi16. Program Pengenalan dan Peningkatan Kapabilitas17. Waktu Kerja Anggota DIreksi18. Etika Jabatan Direksi19. Penetapan Kebijakan Pengurusan Perusahaan oleh Direksi20. Pendelegasian Wewenang di antara Direktur Perusahaan21. Komposisi dan Pembagian Tugas Direksi22. Rapat Direksi23. Organ Pendukung Direksi24. Hubungan Kerja antara Dewan Komisaris dan Direksi

25. Evaluasi Kinerja Direksi26. Pertanggungjawaban Direksi

TUGAS, KEWAJIBAN, DAN WEWENANG DIREKSIDireksi menjalankan tugas dan kewenangan pengurusan Perseroan untuk tujuan dan kepentingan Perseroan termasuk mewakili Perseroan baik di dalam maupun di luar pengadilan.1. Prinsip dasar pelaksanaan tugas dan kewajiban Direksi

Perseroan sebagai berikut:a. Bertanggungjawab penuh dalam melaksanakan

tugasnya untuk kepentingan dan usaha Perseroan dalam mencapai maksud dan tujuannya;

b. Memimpin dan mengurus Perseroan sesuai dengan maksud dan tujuan Perseroan dan senantiasa berusaha meningkatkan efisiensi dan efektifitas Perseroan;

c. Menguasai, memelihara, dan mengurus kekayaand. Perseroan;e. Dalam setiap pengambilan keputusan/tindakan, harus

mempertimbangkan risiko usaha.2. Dalam melaksanakan tugas dan kewajiban tersebut, Direksi

Perseroan wajib memperhatikan kebijakan umum yang diatur dalam pedoman kerja (board manual) Perseroan sebagai berikut:a. Dengan itikad baik dan penuh tanggung jawab

menjalankan tugas untuk kepentingan Perseroan;b. Tunduk pada ketentuan peraturan perundang-undangan

yang berlaku, Anggaran Dasar dan keputusan RUPS serta memastikan seluruh aktivitas Perseroan telah sesuai dengan ketentuan peraturan perundang-undangan yang berlaku, Anggaran Dasar dan keputusan RUPS;

c. Menerapkan Good Corporate Governance secara konsisten;d. Mematuhi peraturan internal Perseroan;

The scope of the Board of Directors' work guidelines includes the following:1. Function of the Board of Directors2. Duties and Obligations of Directors3. Rights and Powers of Directors4. Requirements for the Directors5. Process of Appointing Directors6. Membership of the Directors7. Multiple Directors' Positions8. Term of Office of Directors9. Dismissal of members of the Board of Directors10. Resignation of Members of the Board of Directors11. Condition of Members of the Board of Directors Lowong12. Temporary Transfer of Duties of Members of the Board of Directors13. Change or Change Board of Directors Plans14. Independence of the Directors15. Disclosure of Share Ownership and Affiliation Relations16. Capability Introduction and Enhancement Program17. Working Hours of Directors18. Ethics of Directors' Position19. Determination of Company Management Policies by the Directors20. Delegation of Authority Among Company Directors21. Composition and Division of Duties of Directors22. Directors' Meeting23. Supporting Organs of the Directors24. Work Relationship between the Board of Commissioners

and the Board of Directors25. Evaluate Directors' Performance26. Accountability of the Directors

DUTIES, OBLIGATIONS, AND AUTHORITY OF THE DIRECTORSThe Board of Directors carries out the duties and authority of managing the Company for the purposes and interests of the Company, including representing the Company both inside and outside the court.1. The basic principles of carrying out the duties and obligations

of the Company's Directors are as follows:a. Fully responsible for carrying out their duties for the

interests and efforts of the Company in achieving its goals and objectives;

b. To lead and manage the Company in accordance with the aims and objectives of the Company and to always strive to improve the efficiency and effectiveness of the Company;

c. Control, maintain, and manage wealthd. Company;e. In every decision/action, business risks must be

considered.2. In carrying out these duties and obligations, the Company's

Directors must pay attention to the general policies stipulated in the Company's work guidelines (board manual) as follows:a. In good faith and full responsibility for carrying out

tasks for the benefit of the Company;b. Subject to the provisions of the applicable laws and

regulations, the Articles of Association and RUPS decisions and ensure that all of the Company's activities are in accordance with the provisions of the prevailing laws and regulations, the Articles of Association and RUPS decisions;

c. Implement Good Corporate Governance consistently;d. Comply with the Company's internal regulations;



e. Melaksanakan pengurusan Perseroan untuk kepentingan dan tujuan Perseroan;

f. Menetapkan susunan organisasi Perseroan lengkap dengan pelaksanaan tugasnya;

g. Bertindak selaku pimpinan dalam pengurusan Perseroan;

h. Memelihara dan mengurus kekayaan Perseroan;i. Bertanggungjawab penuh dalam melaksanakan

tugasnya untuk kepentingan Perseroan dalam mencapai maksud dan tujuannya;

j. Mewakili Perseroan baik di dalam maupun di luar pengadilan;

k. Memperhatikan masukan-masukan yang diberikan oleh Dewan Komisaris;

l. Melakukan segala tindakan dan perbuatan, baik mengenai pengurusan maupun pemilikan kekayaan Perseroan serta mengikat Perseroan dengan pihak lain dengan pembatasan tertentu;

m. Wajib menyelenggarakan dan menyimpan Daftar Khusus yang memuat keterangan mengenai kepemilikan saham Direktur dan Komisaris beserta keluarganya dalam Perusahaan dan/atau pada perusahaan lain serta tanggal saham itu diperoleh;

n. Bertanggung jawab penuh secara pribadi atas kerugian Perseroran apabila yang bersangkutan bersalah atau lalai menjalankan tugasnya untuk kepentingan dan usaha Perseroan.

3. Tugas Terkait Rapat Umum Pemegang Sahama. Direksi wajib menyelenggarakan dan menyimpan Daftar

Pemegang Saham dan dokumen-dokumen terkait dengan RUPS sesuai ketentuan peraturan perundang-undangan.

b. Memberikan informasi material secara accurate, reliable, timely, consistent, dan useful yang memungkinkan bagi pemegang saham untuk membuat keputusan.

c. Menyediakan bahan RUPS dan disampaikan kepada pemegang saham Perseroan.

d. Memberikan laporan berkala kepada pemegang saham menurut cara dan waktu sesuai dengan ketentuan yang berlaku.

e. Memberikan pertanggungjawaban dan segala keterangan tentang keadaan dan jalannya Perseroan, terutama laporan keuangan baik dalam bentuk laporan tahunan maupun dalam bentuk laporan berkala lainnya menurut cara dan waktu yang ditentukan dalam Anggaran Dasar.

f. Menandatangani Laporan Tahunan, dalam hal terdapat Direktur yang tidak menandatangani Laporan Tahunan, maka yang bersangkutan harus menyebutkan alasannya dalam surat tersendiri yang dilekatkan dalam Laporan Tahunan. Dalam hal terdapat Direktur yang tidak menandatangani Laporan Tahunan dan tidak memberikan alasan secara tertulis, maka yang bersangkutan dianggap menyetujui isi laporan tahunan tersebut.

g. Memanggil dan menyelenggarakan RUPS Tahunan dan/atau RUPS Luar Biasa.

h. Membuat dan memelihara Risalah RUPS.4. Tugas terkait dengan Anak Perusahaan Menetapkan Prosedur

Pengangkatan anggota Direksi dan Dewan Komisaris Anak Perusahaan, sebagai berikut:a. Direksi membentuk Tim Evaluasi calon Anggota Direksi

e. Carry out the management of the Company for the interests and objectives of the Company;

f. Determine the Company's organizational structure complete with the implementation of their duties;

g. Acting as the leader in the management of the Company;

h. Maintain and manage the Company's assets;i. Fully responsible in carrying out its duties for the

benefit of the Company in achieving its goals and objectives;

j. Representing the Company both inside and outside the court;

k. Noting input provided by the Board of Commissioners;

l. Performing all actions and actions, both regarding the management and ownership of the Company's assets and binding the Company with other parties with certain restrictions;

m. Must hold and keep a Special Register that contains information about the share ownership of Directors and Commissioners and their families in the Company and/or other companies and the date the shares were acquired;

n. Fully responsible personally for the loss of the Company if the person concerned is guilty or negligent in carrying out his duties for the interests and business of the Company.

3. Duties Regarding General Meeting of Shareholdersa. The Board of Directors is required to hold and keep a

Register of Shareholders and documents related to the GMS in accordance with statutory provisions.

b. Providing material information in an accurate, reliable, timely, consistent, and useful manner that allows shareholders to make decisions.

c. Providing GMS material and submitting it to the Company's shareholders.

d. Provide periodic reports to shareholders according to the method and time in accordance with applicable regulations.

e. Provide accountability and all information regarding the condition and course of the Company, especially financial statements both in the form of annual reports and in the form of other periodic reports in the manner and time specified in the Articles of Association.

f. Signing the Annual Report, in the event that a Director does not sign the Annual Report, the person concerned must state the reason in a separate letter attached to the Annual Report. In the event that there is a Director who does not sign the Annual Report and does not give reasons in writing, the relevant party shall be deemed to approve the contents of the annual report.

g. Summon and hold an Annual GMS and/or Extraordinary GMS.

h. Make and maintain GMS Minutes.4. Duties related to Subsidiaries Establish Procedure for

Appointment of Subsidiaries' Directors and Board of Commissioners members, as follows:a. The Board of Directors forms an Evaluation Team for


dan Dewan Komisaris Anak Perusahaan yang diketuai oleh Direktur SDM dan Umum.

b. Tim Evaluasi menunjuk tenaga ahli atau Lembaga Profesional untuk melakukan penilaian (jika diperlukan), melakukan penjaringan calon kemudian diserahkan kepada Direksi untuk memperoleh persetujuannya.

c. Tim Evaluasi melakukan penilaian terhadap calon-calon yang masuk dalam daftar bakal calon yang telah disetujui Direksi.

d. Dalam hal penilaian dilakukan oleh ahli atau lembaga profesional yang ditunjuk, Tim Evaluasi mengevaluasi berdasarkan hasil penilaian oleh ahli atau lembaga profesional.

e. Tim Evaluasi menyampaikan hasil penilaian tersebut kepada Direksi untuk penetapan calon Anggota Direksi/Dewan Komisaris anak Perusahaan terpilih.

f. Direksi melakukan evaluasi akhir atas hasil penilaian untuk menetapkan Direksi dan Komisaris terpilih untuk masing- masing jabatan Anggota Direksi dan Dewan Komisaris Anak Perusahaan.

5. Tugas terkait dengan Strategi dan Rencana Kerjaa. Menyiapkan visi, misi, tujuan, strategi dan budaya

Perseroan, termasuk logo Perseroan.b. Mengusahakan dan menjamin terlaksananya usaha

dan kegiatan Perseroan sesuai dengan maksud dan tujuan serta kegiatan usahanya.

c. Menyiapkan rencana pengembangan Perseroan tepat pada waktunya.

d. Mengupayakan tercapainya sasaran-sasaran jangka panjang yang tercantum dalam RJPP.

e. Menyampaikan Rencana Kerja yang memuat juga anggaran tahunan Perseroan kepada Dewan Komisaris selambatnya 30 (tiga puluh) hari sebelum tahun buku berikutnya dimulai.

f. Mengupayakan tercapainya target-target jangka pendek yang tercantum dalam RKAP.

6. Terkait dengan Manajemen Risikoa. Menyusun kebijakan dan strategi manajemen risiko

secara tertulis dan komprehensif di tingkat korporat termasuk penetapan dan persetujuan limit risiko secara keseluruhan, per jenis risiko dan per aktivitas fungsional (kegiatan usaha) Perseroan.

b. Mengembangkan budaya manajemen risiko pada seluruh jenjang organisasi, antara lain meliputi komunikasi yang memadai kepada seluruh jenjang organisasi tentang pentingnya pengendalian intern yang efektif.

c. Bertanggungjawab atas p el aks an aan kebijakan manajemen risiko dan paparan risiko yang diambil oleh Perseroan secara keseluruhan, termasuk mengevaluasi dan memberikan arahan strategi manajemen risiko berdasarkan laporan yang disampaikan oleh pejabat Risk Management yang ditunjuk.

d. Mengevaluasi dan memutuskan transaksi yang melampaui kewenangan pejabat satu level di bawah Direksi atau transaksi yang memerlukan persetujuan sesuai dengan kebijakan dan prosedur intern yang berlaku.

prospective members of the Board of Directors and the Board of Commissioners of the Subsidiary, which is chaired by the Director of Human Resources and General.

b. The Evaluation Team appoints experts or Professional Institutions to carry out assessments (if needed), conduct a selection of candidates and then submit them to the Directors for approval.

c. The Evaluation Team evaluates candidates who are included in the list of prospective candidates who have been approved by the Directors.

d. In the event that the assessment is carried out by an expert or designated professional institution, the Evaluation Team evaluates based on the results of the assessment by the expert or professional institution.

e. The Evaluation Team submits the assessment results to the Board of Directors to determine the candidates for the Directors/Board of Commissioners of selected subsidiary companies.

f. The Board of Directors conducts a final evaluation of the assessment results to determine the Directors and Commissioners elected for each position of the Members of the Directors and the Board of Commissioners of the Subsidiaries.

5. Tasks related to Strategies and Work Plansa. Prepare the Company's vision, mission, goals, strategies

and culture, including the Company's logo.b. Promote and guarantee the implementation of the

Company's business and activities in accordance with the aims and objectives and business activities.

c. Prepare the Company's development plans on time.

d. Strive to achieve the long-term goals listed in the RJPP.

e. Submit the Work Plan which also contains the Company's annual budget to the Board of Commissioners no later than 30 (thirty) days before the next fiscal year begins.

f. Striving to achieve short-term targets listed in the RKAP.

6. Related to Risk Managementa. Develop written and comprehensive risk management

policies and strategies at the corporate level including the establishment and approval of overall risk limits, per type of risk and per functional activity (business activity) of the Company.

b. Develop a risk management culture at all levels of the organization, including among others adequate communication to all levels of the organization about the importance of effective internal control.

c. Responsible for the implementation of risk management policies and risk exposure taken by the Company as a whole, including evaluating and providing direction for risk management strategies based on reports submitted by appointed Risk Management officials.

d. Evaluate and decide on transactions that go beyond the authority of officials one level below the Board of Directors or transactions that require approval in accordance with applicable internal policies and procedures.



e. Memastikan peningkatan kompetensi sumber daya manusia yang terkait dengan penerapan manajemen risiko, antara lain dengan cara program pendidikan dan latihan secara berkesinambungan terutama yang berkaitan dengan sistem dan proses manajemen risiko.

f. Memastikan bahwa fungsi manajemen risiko telah diterapkan secara independen yang dicerminkan antara lain adanya hubungan antara unit Manajemen Risiko yang melakukan identifikasi, pengukuran, pemantauan dan pengendalian risiko dengan Satuan Kerja yang melakukan dan menyelesaikan transaksi.

g. Melaksanakan kaji ulang secara berkala dengan frekuensi sesuai dengan kebutuhan Perseroan untuk memastikan:• Keakuratan metodologi manajemen risiko;• Kecukupan implementasi sistem informasi

manajemen risiko;• Ketepatan kebijakan, prosedur dan penetapan

limit risiko.7. Terkait dengan Pemberantasan Korupsi

Direksi dilarang untuk memberikan atau menawarkan atau menerima baik langsung ataupun tidak langsung sesuatu yang berharga kepada pejabat pemerintah dan pihak-pihak lain yang mempengaruhi atau sebagai imbalan atas apa yang telah dilakukannya dan tindakan lainnya sesuai peraturan perundang-undangan yang berlaku.

8. Terkait dengan Sistem Pengendalian InternalSistem Pengendalian Intern yang efektif merupakan komponen penting dalam manajemen dan menjadi dasar bagi kegiatan operasional Perseroan. Sistem Pengendalian Intern harus dapat memastikan seluruh aktivitas bisnis mematuhi peraturan perundang-undangan, pedoman good corporate governance maupun kebijakan Perseroan.Sistem Pengendalian Internal harus dapat mendayagunakan informasi-informasi yang meliputi:a. Laporan manajemen;b. Laporan auditor internal;c. Opini dan laporan auditor eksternal;d. Laporan dan pendapat aktuaris mengenai tingkat risiko

dan premi;e. Hal-hal lain yang dianggap perlu.

9. Terkait dengan Keterbukaan dan Kerahasiaan Informasia. Direksi wajib mengungkapkan informasi penting dalam

Laporan Tahunan dan Laporan Keuangan kepada pihak lain sesuai peraturan perundang-undangan yang berlaku.

b. Informasi yang disampaikan berupa:• Informasi/data non publik yaitu informasi/data yang

diberikan atau disampaikan untuk keperluan intern Perseroan baik yang bersifat reguler maupun insidental;

• Informasi/data publik yaitu informasi/data yang diberikan atau disampaikan sebagai laporan kepada Pemegang Saham dalam rangka memenuhi kewajiban rutin maupun keterbukaan informasi yang bersifat insidental.

c. Direksi harus mengungkapkan pelaksanaan prinsip good corporate governance yang telah dilaksanakan dalam Laporan Tahunan.

e. Ensuring an increase in human resource competencies related to the application of risk management, among others by means of continuous education and training programs especially those related to risk management systems and processes.

f. Ensuring that the risk management function has been implemented independently which is reflected among others the relationship between the Risk Management unit that carries out identification, measurement, monitoring and risk control with the Work Unit that carries out and completes transactions.

g. Carry out periodic reviews with frequency in accordance with the needs of the Company to ensure:• The accuracy of the risk management methodology;• Adequacy of risk management information system

implementation;• Accuracy of policies, procedures and determination

of risk limits.7. Related to Corruption Eradication

Directors are prohibited from giving or offering or accepting directly or indirectly anything of value to government officials and other parties that influence or as a reward for what they have done and other actions in accordance with applicable laws and regulations.

8. Related to the Internal Control SystemAn effective Internal Control System is an important component in management and forms the basis for the Company's operational activities. The Internal Control System must be able to ensure that all business activities comply with laws and regulations, good corporate governance guidelines and Company policies.Internal Control Systems must be able to utilize information that includes:a. Management report;b. Internal auditor's report;c. Opinions and reports of external auditors;d. Actuary reports and opinions regarding risk and

premium levels;e. Other matters deemed necessary.

9. Relating to Information Openness and Confidentialitya. The Board of Directors must disclose important

information in the Annual Report and Financial Statements to other parties in accordance with applicable laws and regulations.

b. Information submitted in the form of:• Non-public information/data, namely information/

data provided or submitted for internal corporate needs, both regular and incidental;

• Public information/data, namely information/data provided or submitted as a report to Shareholders in order to fulfill routine obligations and incidental information disclosure.

c. The Board of Directors must disclose the implementation of good corporate governance principles that have been implemented in the Annual Report.


d. Informasi rahasia yang diperoleh sewaktu menjabat sebagai Direksi Perseroan, termasuk rahasia Perseroan harus tetap dijaga sesuai dengan peraturan perundang- undangan yang berlaku.

e. Dalam hal menjaga kerahasiaan informasi Perseroan, Direksi dituntut untuk mengutamakan kepentingan Perseroan daripada kepentingan individu atau kelompok.

10. Terkait dengan Hubungan dengan Para Pemangku Kepentingana. Memastikan terjaminnya hak-hak para pemangku

kepentingan (stakeholders) yang timbul berdasarkan peraturan perundang- undangan yang berlaku dan atau perjanjian yang dibuat oleh Perseroan dengan karyawan, rekanan, mitra kerja, pemasok, pelanggan dan stakeholders lainnya.

b. Memastikan Perseroan melakukan tanggung jawab sosialnya (corporate social responsilibility) secara konsisten dan berkesinambungan.

c. Memastikan Perseroan memperhatikan kepentingan stakeholders.

d. Memastikan bahwa aset-aset dan lokasi usaha serta fasilitas Perseroan lainnya memenuhi peraturan perundang- undangan yang berlaku berkenaan dengan pelestarian lingkungan hidup, kesehatan dan keselamatan kerja.

e. Dalam mempekerjakan, menetapkan besarnya gaji, memberikan pelatihan, menetapkan jenjang karir, serta menentukan persyaratan kerja lainnya untuk karyawan, Perseroan tidak melakukan diskriminasi karena latar belakang etnik seseorang, agama, jenis kelamin, usia, cacat tubuh yang dipunyai seseorang atau keadaan khusus lainnya yang dilindungi oleh peraturan perundang- undangan.

f. Direksi wajib menyediakan lingkungan kerja yang bebas dari segala bentuk tekanan (pelecehan/harrasment).

11. Terkait dengan Teknologi Informasia. Menetapkan tata kelola informasi yang efektif.b. Menyampaikan laporan pelaksanaan tata kelola

teknologi informasi secara periodik kepada Dewan Komisaris.

c. Menjaga dan mengevaluasi kualitas fungsi tata kelola informasi di Perseroan.

12. Terkait Sistem Akuntansi dan Keuangana. Menyusun sistem akuntansi berdasarkan prinsip-prinsip

standar akuntansi keuangan yang berlaku.b. Memastikan kehandalan data yang mencakup

kelengkapan, akurasi, klasifikasi dan otorisasi yang memadai sehingga laporan keuangan yang dihasilkan tepat waktu, tepat guna dan bebas dari salah saji material.

c. Mengadakan dan memelihara pembukuan dan administrasi Perseroan untuk menghasilkan penyeleng garaan pembukuan yang tertib, kecukupan modal kerja dengan biaya modal yang efisien, struktur neraca yang baik dan kokoh.

13. Terkait dengan Tugas dan Kewajiban LainMenjalankan kewajiban-kewajiban lainnya sesuai dengan ketentuan-ketentuan yang diatur dalam Anggaran Dasar dan yang ditetapkan oleh RUPS berdasarkan peraturan perundang- undangan yang berlaku.

d. Confidential information obtained while serving as the Company's Board of Directors, including the Company's secrets, must be kept in accordance with the applicable laws and regulations.

e. In terms of maintaining the confidentiality of Company information, the Directors are required to prioritize the interests of the Company rather than the interests of individuals or groups.

10. Related to Relationships with Stakeholdersa. Ensuring the rights of stakeholders arising based on

applicable laws and regulations or agreements made by the Company with employees, partners, partners, suppliers, customers and other stakeholders.

b. Ensuring that the Company carries out its social responsibility (corporate social responsibility) consistently and continuously.

c. Ensuring that the Company pays attention to the interests of stakeholders.

d. Ensuring that the Company's assets and business location and other facilities meet the applicable laws and regulations relating to environmental preservation, health and work safety.

e. In hiring, setting salary levels, providing training, setting career paths, and determining other work requirements for employees, the Company does not discriminate because of one's ethnic background, religion, gender, age, disability owned by a person or other special circumstances that are protected by statutory regulations.

f. The Board of Directors must provide a work environment that is free from all forms of harassment.

11. Related to Information Technologya. Establish effective information governance.b. Submit reports on the implementation of information

technology governance periodically to the Board of Commissioners.

c. Maintain and evaluate the quality of the information governance function in the Company.

12. Related to Accounting and Financial Systemsa. Develop an accounting system based on the principles

of applicable financial accounting standards.b. Ensuring the reliability of data covering the

completeness, accuracy, classi fi cation and adequate authorization so that the resulting financial statements are timely, appropriate and free from material misstatements.

c. To hold and maintain the books and administration of the Company to produce an orderly bookkeeping organizer, adequate working capital with efficient capital costs, a good and strong balance sheet structure.

13. Related to Other Duties and ObligationsPerforming other obligations in accordance with the provisions stipulated in the Articles of Association and those determined by the GMS based on the applicable laws and regulations.



PEMBAGIAN TUGAS DIREKSIRincian tugas dan tanggung jawab masing-masing anggota Direksi sebagai berikut:1. Direktur Utama

Menentukan, memutuskan dan menetapkan strategi perencanaan serta pelaksanaan seluruh kegiatan Perseroan di antaranya Internal Audit, Legal and Contract, HSSE dan Corporate Secretary di mana seluruh kegiatan tersebut dikaitkan dengan usaha pencapaian visi dan misi Perusahaan.

2. Direktur KeuanganMenentukan, memutuskan, menetapkan dan mengendalikan pembuatan kebijakan dan strategi keuangan Perseroan untuk meningkatkan profitabilitas, likuiditas Perseroan guna mencapai tujuan dan sasaran Perseroan secara efektif dan efisien.

3. Direktur OperasiMenentukan, memutuskan, menetapkan dan mengendalikan pembuatan kebijakan operasi Perseroan meliputi Divisi Geoscience & Reservoir Services; Divisi Production, Operation & Maintenance Services; dan Divisi Asset Reliability & Productivity serta mengevaluasi dan mengkaji kinerja operasi unit usaha dan anak Perseroan.

4. Direktur Pengembangan UsahaMenentukan, memutuskan, menetapkan dan mengendalikan kebijakan kegiatan Pengembangan usaha Perseroan, melalui pemantauan dan evaluasi baik operasi di dalam Perseroan maupun di luar Perseroan, guna meningkatkan dan melakukan upaya-upaya optimalisasi kegiatan pengembangan usaha di bidang migas dalam rangka mencapai target yang telah ditetapkan.

5. Direktur SDM & UmumMenentukan, memutuskan, menetapkan dan mengendalikan kegiatan sumber daya manusia & umum meliputi Human Capital, Supply Chain Management, Property Management & General Affair, Information System dan Elnusa Petroleum School dalam rangka menyiapkan sumber daya manusia yang handal mendukung kegiatan operasi rutin secara tepat waktu, accountable dan auditable.

PROGRAM ORIENTASI BAGI DIREKSIPerseroan memiliki dan menjalankan program pengenalan Perseroan bagi anggota Dewan Komisaris dan Direksi yang baru menjabat dengan tujuan memberikan gambaran kondisi Perseroan secara umum. Program pengenalan disusun dan disampaikan oleh Corporate Secretary dalam bentuk tampilan presentasi serta hard copy, meliputi:1. Profil Perseroan2. Update Kinerja Perseroan3. CoC4. Board Manual5. HSE6. Rencana Kerja dan Anggaran (RKAP)7. RJPP

Di tahun 2019 tidak dilakukan Program Pengenalan Perseroan terhadap Direksi di karenakan tidak ada perubahan komposisi Direksi dari tahun sebelumnya. Direksi yang menjabat sepanjang tahun 2019 telah mendapat materi program pengenalan Perseroan pada saat resmi menjabat sesuai dengan awal masa jabatannya.

DIVISION OF DUTIES OF THE DIRECTORSDetails of the duties and responsibilities of each member of the Board of Directors are as follows:1. President Director

Determine, decide and establish the strategy of planning and implementation of all activities of the Company, including internal audit, legal and contract, HHSE and corporate secretary in which all activities are associated with the effort to achieve the vision and mission of the Company.

2. Director of OperationsDetermine, decide, establish and control the Company’s financial policy and strategy making to improve profitability and liquidity of the Company in order to achieve the Company’s objectives and objectives effectively and efficiently.

3. Operations DirectorDetermine, decide, establish and control the Company’s operation policies, including the Geoscience and Reservoir Divisions; the Production, Operation and Maintenance Services Division; and the Asset Reliability and Productivity Division, and evaluate and review the operating performance of the Company’s and Subsidiaries’ business units.

4. Director of Business DevelopmentDetermine, decide, establish and control the Company’s business development policies, through monitoring and evaluations both inside and outside the Company. This is done to enhance and optimize business development activities in the oil and gas sector so as to achieve the established targets.

5. Director of Business DevelopmentDetermine, decide, establish and control human resource and general activities. This covers human capital, supply chain management, property management and general affairs, information systems and the Elnusa Petroleum School in order to prepare reliable human resources to support routine operations on time, in an accountable manner and on an auditable basis.

ORIENTATION PROGRAM FOR DIRECTORSThe Company has and runs a Company introduction program for new members of the Board of Commissioners and Directors with the aim of providing an overview of the Company's general condition. The introduction program was prepared and delivered by the Corporate Secretary in the form of a presentation and hard copy, including:1. Company Profile2. Update on Company Performance3. CoC4. Board Manual5. HSE6. Work Plan and Budget (RKAP)7. RJPP

In 2019 the Company Introduction Program for Directors was not conducted because there was no change in the composition of the Directors from the previous year. Directors who served throughout 2019 received material from the Company's introduction program when they officially held office in accordance with the beginning of their term of office.


PROGRAM PELATIHAN DAN PENGEMBANGAN KOMPETENSI DIREKSIPerseroan juga merancang program untuk memberikan wawasan baru bagi Direksi untuk meningkatkan kapasitas Perseroan dalam lingkungan usaha yang kompetitif, serta memberikan kesempatan untuk membangun jaringan dalam rangka memberdayakan sumber daya yang ada dalam organisasi sehingga menjadikan Perseroan sebagai organisasi berkinerja tinggi.

Tentang kegiatan peningkatan kompetensi yang diikuti Direksi di sepanjang tahun 2018 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

LAPORAN SINGKAT PELAKSANAAN TUGAS DAN TANGGUNG JAWAB DIREKSI TAHUN 2018Selama 2019 Direksi telah melaksanakan tugas dan tanggung jawab sesuai dengan deskripsi jabatannya, yaitu di antaranya:1. Merumuskan strategi korporasi, di antaranya menyusun

Rencana Jangka Panjang Perusahaan2. Memastikan seluruh aktivitas perusahaan berjalan lancar dan

hasil kinerja mencapai target, termasuk di anak perusahaan3. Mereview kebutuhan investasi dalam rangka meningkatkan

kapasitas, penggantian maupun pengembangan usaha.4. Memberikan arahan dan mereview upaya untuk

pengembangan usaha perusahaan dan penjajakan untuk kemitraan strategis termasuk didalamnya pelaksanaan Strategic Inisiative Project

5. Merumuskan kebutuhan untuk pengembangan sumber daya manusia dan memberikan arahan untuk implementasi dan transformasi budaya perusahaan.

6. Menyampaikan keterbukaan informasi kepada publik mengenai update kinerja perusahaan.

7. Memberikan arahan strategis terkait perencanaan, pengelolaan aset dan proyek, serta penanganan kasus perusahaan,

8. Menetapkan struktur organisasi perusahaan.

INFORMASI TENTANG KOMITE DI BAWAH DIREKSIHingga akhir tahun 2019, Perseroan tidak memiliki komite yang berada di bawah Direksi. Dengan demikian, tidak terdapat informasi terkait kinerja dan penilaian komite di bawah Direksi. Namun, pelaksanaan tugas dan tanggung jawab Direksi di dukung oleh Sekretaris Perusahaan, serta Unit Audit Internal dan organ fungsional lainnya yang dipimpin oleh Vice president/Senior Manager. Penilaian kinerja terkait organ pendukung dan organ fungsional lainnya yang berada di Bawah Direksi, melekat pada hasil penilaian KPI Perseroan atau KPI masing-masing organ pendukung dan organ fungsional lainnya.

DIREKTUR INDEPENDENSesuai dengan peraturan BEI Nomor I-A Kep-00001/BEI/01-2014 tanggal 20 Januari 2014, bahwa setiap Perusahaan Tercatat wajib untuk memiliki Direktur Independen yang berjumlah paling kurang 1 (satu) orang dari jajaran anggota Direksi, pada RUPS Luar Biasa tanggal 31 Agustus 2018, Perseroan mengangkat Arief Riyanto sebagai Direktur Independen dengan masa jabatan sama dengan anggota Direksi lainnya dan dapat diangkat kembali setelah masa jabatannya selesai.

BOARD OF DIRECTORS COMPETENCY TRAINING AND DEVELOPMENT PROGRAMThe Company also designed a program to provide new insights for Directors to improve the Company's capacity in a competitive business environment, as well as provide opportunities to build networks in order to empower existing resources in the organization so that the Company is a high-performing organization.

Concerning the competency improvement activities participated by the Directors throughout 2018, can be seen in the Company Profile chapter in this annual report.

BRIEF REPORT ON THE IMPLEMENTATION OF THE DUTIES AND RESPONSIBILITIES OF DIRECTORS IN 2019During 2019, the Board of Directors carried out their duties and responsibilities in accordance with their job descriptions, including:1. Formulating corporate strategies, including preparing the

Company's Long Term Plan2. Ensuring that all of the company activities run smoothly and the

performance results reach targets, including in the subsidiary3. Reviewing investment needs in order to increase business

capacity, replacement and development. 4. Giving direction and reviewing efforts to corporate business

development and exploration for strategic partnerships including the implementation of the Strategic Initiative Project

5. Formulating the need for human resource development and providing direction for the implementation and transformation of corporate culture.

6. Delivering information disclosure to the public regarding company performance updates.

7. Providing strategic direction related to planning, assets and projects management, and handling corporate cases,

8. Establishing the organization structure of the company.

INFORMATION ABOUT COMMITTEES UNDER THE DIRECTORSUntil the end of 2019, the Company does not have a committee under the Board of Directors. Therefore, there is no information related to the performance and evaluation of committees under the Board of Directors. However, the implementation of the duties and responsibilities of the Directors is supported by the Corporate Secretary, as well as the Internal Audit Unit and other functional organs led by the Vice President/Senior Manager. Performance appraisal related to supporting organs and other functional organs that are under the Board of Directors, is attached to the results of the assessment of the Company's KPI or KPI of each supporting organ and other functional organs.

INDEPENDENT DIRECTORIn accordance with IDX regulation No. IA Kep-00001/BEI/01-2014 dated January 20, 2014, which stipulated that every Listed Company is required to have an Independent Director of at least 1 (one) person from the Board of Directors' members, at the Extraordinary General Meeting of Shareholders on August 31, 2018, the Company appointed Arief Riyanto as an Independent Director with the same tenure as other Directors and can be reappointed after his term of service is over.



Sebagai Direktur Independen maka wajib untuk memenuhi kewajiban membuat untuk Surat Pernyataan Independensi yang menyatakan bahwa sebagai Direktur Independen tidak mempunyai hubungan afiliasi dengan Perusahaan Tercatat yang bersangkutan paling kurang 6 (enam) bulan sebelum penunjukan sebagai Direktur Independen, tidak mempunyai hubungan afiliasi dengan Komisaris atau Direksi lainnya, tidak bekerja rangkap sebagai Direksi perusahaan lain, tidak menjadi orang dalam pada lembaga atau Profesi Penunjang Pasar Modal yang jasanya digunakan oleh calon perusahaan tecatat selama 6 (enam) bulan sebelum penunjukan dan telah memenuhi persyaratan sebagai Direktur Independen sebagaimana yang diatur dalam peraturan perundang-undangan yang berlaku.

LAMPIRAN SURAT PERNYATAAN INDEPENDENSI

As an Independent Director, it is compulsory to fulfill the obligation to make an Independence Statement stating that as an Independent Director there is no affiliation relationship with the Listed Company at least 6 (six) months prior to his appointment as an Independent Director, no affiliation with the Commissioners or other Directors , does not work concurrently as a Director of another company, does not become an insider at a Capital Market Supporting Professional or Professional whose services are used by prospective listed companies for 6 (six) months prior to the appointment and has fulfilled the requirements as an Independent Director as stipulated in the legislation applicable

ATTACHMENT OF INDEPENDENCE STATEMENT


TRANSPARANSI INFORMASI TENTANG DEWAN KOMISARIS DAN DIREKSI

PENILAIAN KINERJA DEWAN KOMISARIS DAN DIREKSI

Sebagai organ utama dalam Perusahaan, Dewan Komisaris dan Direksi memiliki peran sentral dalam gerak pertumbuhan Perusahaan. Penilaian kinerja Dewan Komisaris dan Direksi dilakukan dengan menerapkan Key Performance Indicator (KPI) yang disesuaikan dengan bisnis yang dijalankan oleh Perusahaan. Penilaian kinerja Dewan Komisaris dan Direksi dilakukan secara rutin setiap tahun sebagai evaluasi atas pelaksanaan tugas Dewan Komisaris dan Direksi. Pengukuran keberhasilan kinerja Dewan Komisaris dan Direksi merupakan hasil kerja kolegial dari masing-masing kedua organ utama Perusahaan tersebut.

Penilaian Kinerja Dewan KomisarisDewan Komisaris melakukan pengukuran dan penilaian terhadap kinerja Dewan Komisaris baik secara kolegial maupun individu melalui mekanisme mandiri setiap tahunnya berdasarkan atas tingkat pencapaian Perseroan dibandingkan dengan target (Key Performance Indicator) yang telah disepakati. Hal ini sebagaimana tertuang dalam Board Manual (Pedoman Kerja).

Penilaian kinerja Dewan Komisaris dilakukan secara rutin setiap tahun sebagai evaluasi atas pelaksanaan tugas Dewan Komisaris. Selain berdasarkan Laporan Tugas Pengawasan, penilaian atau evaluasi atas kinerja Dewan Komisaris juga dilaksanakan berdasarkan realisasi Key Performance Indicators (KPI), yang merupakan pengukuran keberhasilan kinerja Dewan Komisaris atas hasil kerja kolegial dari seluruh Dewan Komisaris.

Proses Pelaksanaan Evaluasi Kinerja1. Evaluasi secara kolegial

Evaluasi kinerja Dewan Komisaris secara kolegial dilakukan berdasarkan kriteria penilaian antara lain meliputi:a. Struktur dan komposisi Dewan Komisaris.

Sesuai Peraturan Otoritas Jasa keuangan Nomor 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik pada pasal 20 yakni Komisaris Independen wajib paling kurang 30% (tiga puluh persen) dari jumlah seluruh anggota Dewan Komisaris, saat ini jumlah Komisaris Independen Perusahaan mencapai 40% (empat puluh persen). Komposisi Dewan Komisaris juga memperhatikan keberagaman keahlian, pengalaman dan latar belakang pendidikan.

b. Pencapaian Key Performance Indicator (“KPI”) Perseroan sesuai dengan target yang telah ditetapkan.Tahun 2019 pencapaian KPI Perseroan menunjukkan hasil yang baik yakni mencapai 104% dari target yang telah ditetapkan.

c. Ketaatan terhadap peraturan perundang-undangan yang berlaku serta kebijakan Perseroan.Selama tahun 2019 Perseroan telah melakukan kewajibannya secara baik dan telah melakukan sejumlah

TRANSPARENCY OF INFORMATION ABOUT THE BOARD OF COMMISSIONERS AND DIRECTORS

PERFORMANCE EVALUATION OF THE BOARD OF COMMISSIONERS AND DIRECTORSAs the main organ in the Company, the Board of Commissioners and Directors have a central role in the growth of the Company. The performance evaluation of the Board of Commissioners and Directors is carried out by applying the Key Performance Indicator (KPI) concepts that are tailored to the business of the Company. The performance evaluation of the Board of Commissioners and Directors is carried out regularly every year as an evaluation of the implementation of the duties of the Board of Commissioners and Directors. The measurement of the success of the performance of the Board of Commissioners and Directors is the collegial work of each of the two main organs of the Company.

Performance Evaluation of the Board of CommissionersThe Board of Commissioners measures and evaluates the performance of the Board of Commissioners both collegially and individually through an independent mechanism each year based on the level of achievement of the Company compared to the agreed targets (Key Performance Indicator). This is as stated in the Board Manual (Work Guidelines).

The performance evaluation of the Board of Commissioners is carried out regularly every year as an evaluation of the implementation of the Board of Commissioners' duties. In addition to being based on the Supervisory Report, the assessment or evaluation of the performance of the Board of Commissioners is also carried out based on the realization of Key Performance Indicators (KPI), which is a measure of the success of the Board of Commissioners' performance on the collegial work of all the Board of Commissioners.

Performance Evaluation Implementation Process1. Collegial Evaluation

The collegial evaluation of the performance of the Board of Commissioners is based on the evaluation criteria which include:a. Structure and composition of the Board of Commissioners.

In accordance with Financial Services Authority Regulation Number 33/POJK.04/2014 concerning Directors and Board of Commissioners of Issuers or Public Companies in article 20, namely Independent Commissioners must be at least 30% (thirty percent) of the total members of the Board of Commissioners, currently the number of Independent Commissioners The company reaches 40% (forty percent). The composition of the Board of Commissioners also considers the diversity of expertise, experience and educational background.

b. The achievement of the Company's Key Performance Indicator ("KPI") is in accordance with the set targets.In 2019 the achievement of the Company's KPI showed good results, reaching 104% of the target set.

c. Compliance with applicable laws and regulations and Company policies.During 2019 the Company has performed its obligations properly and has made a number of updates to the



pemutakhiran atas kebijakan-kebijakan Perseroan yang disesuaikan dengan peraturan perundang-undangan.

d. Komitmen dalam memajukan kepentingan Perseroan.Dewan Komisaris menunjukkan komitmen yang besar untuk kemajuan dan kepentingan Perseroan melalui pengawasan dan pemberian nasihat kepada Direksi yang rutin dilakukan setiap bulannya. Untuk tahun 2019, Dewan Komisaris telah mengadakan 12 (dua belas) kali Rapat Dewan Komisaris dan 12 (dua belas) kali Rapat Gabungan Dewan Komisaris dan Direksi.

e. Penerapan Good Corporate Governance di Perusahaan.

Sepanjang tahun 2019 pelaksanaan tata kelola Perseroan mengacu pada peraturan perundang-undangan antara lain Peraturan OJK No. 21/POJK.04/2015 berikut Surat Edaran OJK tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka dan Peraturan OJK No. 32/POJK.04/2014 yang mengatur mengenai RUPS. Selain itu Perseroan juga mengadopsi secara komprehensif standar terbaik tata kelola yang berlaku secara Internasional yaitu ASEAN Corporate Governance Scorecard sebagai acuan rekomendasi tata kelola yang harus dipenuhi.

2. Evaluasi secara individuEvaluasi dilakukan oleh masing-masing anggota Dewan Komisaris, dengan kriteria antara lain meliputi:a. Tingkat kehadiran dalam masing-masing rapat internal

maupun rapat gabungan Dewan Komisaris dengan Direksi beserta rapat dengan Komite-Komite Penunjang di bawah Dewan Komisaris.

b. Kontribusi dalam proses pengawasan dan pemberian nasihat terhadap Jajaran Manajemen

Untuk tingkat kehadiran rata-rata sebesar 90% diyakini anggota Dewan Komisaris telah memberikan waktu yang lebih dari memadai untuk menyelenggarakan rapat dan mendapatkan suatu putusan yang komprehensif terbaik buat perusahaan serta memenuhi ketentuan dan aturan yang berlaku dalam pengambilan keputusan.

Evaluasi kinerja Dewan Komisaris ini juga disampaikan secara umum sebagai bentuk pertanggungjawaban pelaksanaan tugas dan tanggung jawab pada saat RUPS Tahunan dan laporan tahunan Perseroan.

PENILAIAN KINERJA DIREKSIPerseroan melakukan evaluasi kinerja Direksi baik secara kolegial maupun individu melalui mekanisme mandiri setiap tahunnya berdasarkan atas tingkat pencapaian Perseroan dibandingkan dengan target (Key Performance Indicators) yang disepakati. Evaluasi kinerja Direksi juga dilakukan dengan mempertimbangkan tugas dan tanggung jawab Direksi sesuai dengan peraturan perundang-undangan dan/atau Anggaran Dasar Perseroan.

Company's policies that are adjusted to the laws and regulations.

d. Commitment in advancing the interests of the Company.The Board of Commissioners shows a great commitment to the progress and interests of the Company through supervision and giving advice to the Directors that is routinely conducted every month. For 2019, the Board of Commissioners has held 12 (twelve) meetings of the Board of Commissioners and 12 (twelve) joint meetings of the Board of Commissioners and Directors.

e. Implementation of Good Corporate Governance in the Company.Throughout 2019, the implementation of corporate governance refers to the laws and regulations including OJK Regulation Number 21/POJK.04/2015 along with OJK Circular Letter on the Implementation of Open Corporate Governance Guidelines and OJK Regulation Number 32/POJK.04/2014 which regulates AGM. In addition, the Company has also adopted comprehensively the best standards of governance that apply internationally, namely the ASEAN Corporate Governance Scorecard as a reference for governance recommendations that must be met.

2. Individual EvaluationThe evaluation is carried out by each member of the Board of Commissioners, with these criterias:a. The level of attendance at each internal meeting and

joint meeting of the Board of Commissioners and the Board of Directors along with meetings with Supporting Committees under the Board of Commissioners.

b. Contribute to the supervision process and provide advice to the Management

For an average attendance rate of 90%, it is believed that members of the Board of Commissioners have given more than adequate time to hold meetings and obtain the best comprehensive decisions for the company and fulfill the rules and regulations in making decisions.

An evaluation of the performance of the Board of Commissioners is also presented in general as a form of accountability for carrying out its duties and responsibilities during the Annual GMS and the Company's annual report.

DIRECTORS PERFORMANCE APPRAISALThe Company evaluates the performance of the Directors both collegially and individually through independent mechanisms each year based on the level of achievement of the Company compared to the agreed targets (Key Performance Indicators). Evaluation of the performance of the Board of Directors is also carried out by considering the duties and responsibilities of the Board of Directors in accordance with the laws and regulations or the Company's Articles of Association.


Proses Pelaksanaan Evaluasi Kinerja1. Evaluasi secara kolegial

Evaluasi kinerja Direksi secara kolegial dilakukan berdasarkan pencapaian secara keseluruhan, antara lain mencakup kriteria:a. Financialb. Operational Excellencec. Growth & Governance

2. Evaluasi secara individuPenilaian kinerja dilakukan oleh masing-masing anggota Direksi, dengan kriteria target kinerja yang dituangkan dalam kertas kerja sesuai dengan tugas dan tanggung jawab masing-masing anggota Direksi. Evaluasi Direktur Utama telah tercermin dalam penilaian kinerja Direksi secara kolegial yang telah disebutkan sebelumnya.

Hasil evaluasi kinerja Direksi untuk tahun buku 2019 mencapai 104%. Hal tersebut disampaikan kepada Dewan Komisaris yang sekaligus menjadi bahan pertimbangan dalam memberikan arahan untuk meningkatkan efektivitas kinerja Direksi dan merupakan salah satu dasar pertimbangan bagi Komite Nominasi dan Remunerasi memberikan rekomendasi kepada Dewan Komisaris untuk mengangkat kembali anggota Direksi dan untuk menyusun struktur remunerasi Direksi.

Selain itu, penilaian kinerja Direksi disampaikan secara umum sebagai bentuk pertanggungjawaban pelaksanaan tugas dan tanggung jawab pada saat RUPS Tahunan dan laporan tahunan Perseroan.

ASSESSMENT PENERAPAN GCG UNTUK ASPEK DEWAN KOMISARIS DAN DIREKSIHasil Assessment Dewan Komisaris dan Direksi sesuai Surat Edaran Otoritas Jasa Keuangan Nomor 32/SEOJK.04/2015 tanggal 17 November 2015 tentang Pedoman Tata Kelola Perusahaan Terbuka dan berdasarkan ASEAN CG Scorecard dapat dilihat dalam Section Tata Kelola Perusahaan bagian Evaluasi Implementasi Tata Kelola Perusahaan.

KEBIJAKAN REMUNERASI DEWAN KOMISARIS DAN DIREKSI

PROSEDUR PENETAPAN REMUNERASI DEWAN KOMISARIS DAN DIREKSIUndang-Undang Nomor 40 tahun 2007 tentang Perseroan Terbatas (UUPT) menyatakan bahwa besarnya remunerasi Dewan Komisaris dan Direksi ditetapkan oleh RUPS, namun RUPS dapat memberikan kewenangan kepada Dewan Komisaris untuk menetapkan remunerasi Direksi dan Dewan Komisaris.

Dewan Komisaris melalui perangkat komitenya yakni Komite Nominasi dan Remunerasi secara berkala mengevaluasi kebijakan, besaran dan struktur remunerasi. Prosedur remunerasi dilaksanakan sesuai dengan perundang-undangan yang berlaku.

Performance Evaluation Implementation Process1. Collegial Evaluation

The collegial performance evaluation of the Directors is based on overall achievements, including but not limited to the following criteria:a. Financialb. Operational Excellencec. Growth & Governance

2. Individual Evaluation Performance appraisal is carried out by each member of the Board of Directors, with performance target criteria set forth in a working paper in accordance with the duties and responsibilities of each member of the Board of Directors. The evaluation of the President Director has been reflected in the collegial assessment of the Directors' performance previously mentioned.

The results of the Directors' performance evaluation for the 2019 fiscal year reached 104%. This was conveyed to the Board of Commissioners which is also a matter of consideration in providing direction to improve the effectiveness of the Board of Directors 'performance and is one of the basic considerations for the Nomination and Remuneration Committee to provide recommendations to the Board of Commissioners to reappoint members of the Board of Directors and to arrange the Directors' remuneration structure.

In addition, an assessment of the performance of the Board of Directors is presented in general as a form of accountability for carrying out its duties and responsibilities during the Annual GMS and the Company's annual report.

ASSESSMENT OF GCG IMPLEMENTATION FOR THE BOARD OF COMMISSIONERS AND DIRECTORS ASPECTSThe Board of Commissioners and Board of Directors Assessment Results in accordance with the Financial Services Authority Circular Letter Number 32/SEOJK.04/2015 dated November 17, 2015 concerning Guidelines for Open Corporate Governance and based on the ASEAN CG Scorecard can be seen in the Corporate Governance Section Evaluation of Corporate Governance Implementation section.

REMUNERATION POLICY FOR THE BOARD OF COMMISSIONERS AND DIRECTORS

PROCEDURE FOR DETERMINING THE REMUNERATION OF THE BOARD OF COMMISSIONERS AND DIRECTORSLaw Number 40 of 2007 concerning Limited Liability Companies (UUPT) states that the amount of remuneration for the Board of Commissioners and Directors is determined by the GMS, but the GMS can authorize the Board of Commissioners to determine the remuneration of the Directors and the Board of Commissioners.

The Board of Commissioners through its committees namely the Nomination and Remuneration Committee periodically evaluates the policies, the magnitude and structure of the remuneration. Remuneration procedures are carried out in accordance with applicable laws.



Pengkajian usulan besaran penghasilan

Dewan Komisaris dan Direksi oleh Komite Nominasi dan Remunerasi

Review the proposed amount of income

for the Board of Commissioners

and Directors by the Nomination

and Remuneration Committee

Keputusan RUPS terkait

pendelegasian wewenang kepada Dewan Komisaris dengan terlebih

dahulu mendapat persetujuan

Pemegang Saham Utama

The GMS decision related to the

delegation of authority to the Board of

Commissioners with prior approval from

the Main Shareholder

Surat dewan Komisaris kepada Pemegang Saham

Utama perihal Usulan Remunerasi Dewan Komisaris

dan Direksi

Letter from the Board of Commissioners to

the Main Shareholders regarding the

remuneration proposal for the Board of

Commissioners and Directors

Surat Keputusan oleh Pemegang

Saham Utama atas Remunerasi Dewan

Komisaris dan Direksi

Decree by the Major Shareholders on

the Remuneration of the Board of

Commissioners and Directors

Surat Keputusan oleh Dewan

Komisaris kepada Direksi perihal

Remunerasi Dewan Komisaris dan

Direksi

Decree by the Board of Commissioners

to the Board of Directors regarding the Remuneration

of the Board of Commissioners and

Directors

STRUKTUR REMUNERASI DEWAN KOMISARIS DAN DIREKSI

Berdasarkan surat dari Pemegang Saham Utama, struktur remunerasi Dewan Komisaris dan Direksi terdiri atas gaji/honorarium, tunjangan, fasilitas dan tantiem.

Struktur remunerasi dan komponennya bagi Dewan Komisaris dan Direksi dapat disampaikan sebagai berikut:

Struktur Remunerasi Dewan KomisarisBoard of Commissioners' Remuneration Structure

Struktur Remunerasi DireksiBoard of Directors' Remuneration Structure

• Honorarium Dewan KomisarisPenghasilan tetap berupa uang yang diterima setiap bulan karena kedudukannya sebagai anggota Dewan Komisaris Perseroan, dengan ketentuan sebagai berikut: » Honorarium Komisaris Utama adalah 45% dari Gaji Direktur Utama » Honorarium Komisaris adalah 90% dari Honorarium Komisaris

Utama

• Honorarium of the Board of CommissionersFixed income in the form of money received each month because of his position as a member of the Board of Commissioners of the Company, with the following conditions: » The Honorarium of the President Commissioner is 45% of the

Salary of the President Director » Commissioner Honorarium is 90% of the Honors Commissioner

of President

• Gaji DireksiPenghasilan tetap berupa uang yang diterima setiap bulan karena kedudukannya sebagai anggota Direksi Perseroan, dengan ketentuan sebagai berikut: » Gaji Direktur adalah 85% dari Gaji Direktur Utama

• Salary of DirectorsFixed income in the form of money received every month because of his position as a member of the Board of Directors of the Company, with the following conditions: » Salary of Director is 85% of Salary of President Director

REMUNERATION STRUCTURE OF THE BOARD OF COMMISSIONERS AND DIRECTORSBased on a letter from the Major Shareholders, the remuneration structure of the Board of Commissioners and Directors consists of salary/honorarium, benefits, facilities and bonuses.

The remuneration structure and its components for the Board of Commissioners and Directors can be delivered as follows:


Struktur Remunerasi Dewan KomisarisBoard of Commissioners' Remuneration Structure

Struktur Remunerasi DireksiBoard of Directors' Remuneration Structure

• Tunjangan Dewan KomisarisPenghasilan berupa uang atau yang dapat dinilai dengan uang yang diterima pada waktu tertentu oleh anggota Dewan Komisaris selain Honorarium, yang dapat berupa: » Tunjangan Hari Raya Keagamaan » Tunjangan Transportasi » Asuransi Purna Jabatan

• Board of Commissioners AllowancesIncome in the form of money or which can be valued with money received at a certain time by members of the Board of Commissioners in addition to the Honorarium, which can be in the form of: » Religious holiday allowance » Transportation Allowances » Full Term Insurance

• Tunjangan DireksiPenghasilan berupa uang atau yang dapat dinilai dengan uang yang diterima pada waktu tertentu oleh anggota Direksi selain Gaji, yang dapat berupa: » Tunjangan Hari Raya Keagamaan » Tunjangan Perumahan » Asuransi Purna Jabatan

• Directors' AllowancesIncome in the form of money or which can be valued with money received at a certain time by members of the Board of Directors other than Salary, which can be in the form of: » Religious holiday allowance » Housing Allowances » Full Term Insurance

• Fasilitas Dewan KomisarisPenghasilan berupa sarana dan/atau kemanfaatan dan/atau penjaminan yang digunakan/dimanfaatkan oleh anggota Dewan Komisaris dalam rangka pelaksanaan tugas, wewenang, kewajiban dan tanggung jawab berdasarkan peraturan perundang- undangan, yang dapat berupa: » Fasilitas Kesehatan » Fasilitas Bantuan Hukum

• Facilities of the Board of CommissionersIncome in the form of facilities and/or benefits and/or guarantees used/utilized by members of the Board of Commissioners in the context of carrying out their duties, authorities, obligations and responsibilities based on laws and regulations, which can be in the form of: » Medical facility » Legal Aid Facilities

• Fasilitas DireksiPenghasilan berupa sarana dan/atau kemanfaatan dan/atau penjaminan yang digunakan/dimanfaatkan oleh anggota Direksi dalam rangka pelaksanaan tugas, wewenang, kewajiban dan tanggung jawab berdasarkan peraturan perundang-undangan, yang dapat berupa: » Fasilitas Kesehatan » Fasilitas Kendaraan » Fasilitas Bantuan Hukum

• Directors' facilitiesIncome in the form of facilities and/or benefits and/or guarantees used/utilized by members of the Board of Directors in the context of carrying out their duties, authorities, obligations and responsibilities based on laws and regulations, which can be in the form of: » Medical facility » Vehicle Facilities » Legal Aid Facilities

• Tantiem Dewan Komisaris » Tantiem adalah Penghasilan yang merupakan penghargaan yang

diberikan kepada anggota Dewan Komisaris apabila memperoleh laba dan tidak mengalami akumulasi kerugian.

• Board of Commissioners Tantiem » Tantiem is income which is an award given to members of the Board

of Commissioners if they receive profits and do not experience accumulated losses.

• Tantiem Direksi » Tantiem, yaitu penghasilan yang merupakan penghargaan

yang diberikan kepada anggota Direksi apabila memperoleh laba dan tidak mengalami akumulasi kerugian.

• Board of Directors Tantiem » Tantiem, which is income which is an award given to members of

the Board of Directors if it earns profit and does not experience accumulated losses.

Struktur dan komponen remunerasi yang diterima oleh Dewan Komisaris tidak terdapat pemberian bonus non kinerja, dan/atau opsi saham bagi setiap anggota Dewan Komisaris.

The structure and components of remuneration received by the Board of Commissioners do not include non-performance bonuses, and/or share options for each member of the Board of Commissioners.

Struktur dan komponen remunerasi yang diterima oleh Direksi tidak terdapat pemberian bonus non kinerja, dan/atau opsi saham bagi setiap anggota Direksi.

The structure and components of remuneration received by the Directors do not include non-performance bonuses, and/or share options for each member of the Board of Directors.



KEBIJAKAN DASAR TERKAIT INDIKATOR DAN PENETAPAN REMUNERASI DEWAN KOMISARIS DAN DIREKSI

Penetapan penghasilan berupa gaji/ honorarium, tunjangan dan fasilitas yang bersifat tetap dilakukan dengan mempertimbangkan faktor pendapatan, kondisi dan kemampuan keuangan Perseroan serta tingkat inflasi dan faktor-faktor lain yang relevan serta tidak bertentangan dengan peraturan perundang-undangan. Sedangkan tunjangan dan tantiem yang bersifat variabel dilakukan dengan mempertimbangkan faktor realisasi pencapaian kinerja Perseroan, tingkat kesehatan, kondisi dan kemampuan keuangan Perseroan serta faktor-faktor lainnya.

TRANSPARANSI REMUNERASI DEWAN KOMISARIS DAN DIREKSI TAHUN 2019Rincian jumlah nominal remunerasi bagi Dewan Komisaris dan Direksi berdasarkan struktur remunerasi adalah sebagai berikut:

Jumlah Nominal Remunerasi Dewan Komisaris dan Direksi Tahun 2019Total of Remuneration for the Board of Commissioners and Directors in 2019

KomponenComponent

Jumlah DiterimaAmount Received



Honorarium/Gaji, THR, Tantiem (termasuk pajak)Honorarium/Salary, THR, Tantiem (including tax)

8.671.167.927 21.743.251.569

Purna JabatanFull Lain Incentive

618.267.693 1.178.821.952

Lain-Lain (Iuran)Others (Dues)

101.443.807 1.502.704.453

Jumlah Remunerasi Dewan Komisaris dan Direksi Tahun 2019Total Remuneration of the Board of Commissioners and Directors in 2019

UraianDetails

JumlahAmount

(Rp)Jumlah Remunerasi Dewan KomisarisTotal Remuneration of the Board of Commissioners

9.390.879.427

Jumlah Remunerasi DireksiTotal Remuneration of the Board of Directors

24.424.777.974

Jumlah Remunerasi Dewan Komisaris dan Direksi Tahun 2019Total Remuneration of the Board of Commissioners and Directors in 2019

33.815.657.401

Informasi mengenai rasio gaji Dewan Komisaris, Direksi, dan pegawai Perseroan adalah sebagai berikut:

PerbandinganComparison 2019 2018

Karyawan yang tertinggi dan terendahThe highest and lowest employees 1:21,13 1:21,92

Direksi yang tertinggi dan terendahHighest and lowest Directors 1:1,18 1:1,11

Dewan Komisaris yang tertinggi dan terendahHighest and lowest Commissioners 1:1,11 1:1,11

Direksi yang tertinggi dan karyawan tertinggiHighest Directors and employees 1:2,16 1:2,29

Yang dimaksud karyawan tertinggi pada tabel di atas adalah level Vice President, sementara karyawan terendah adalah level staff.

B A S I C P O L I C I E S R E G A R D I N G I N D I C ATO R S A N D DETERMINATION OF REMUNERATION FOR THE BOARD OF COMMISSIONERS AND DIRECTORSDetermination of income in the form of salary/honorarium, allowances and facilities that are permanent is carried out by considering the factors of income, the condition and financial capability of the Company as well as the inflation rate and other relevant factors that are not in conflict with the legislation. Whereas the variable allowances and bonuses are carried out by taking into account the realization of the Company’s performance achievements, the level of health, the condition and financial capability of the Company as well as other factors.

TRANSPARENCY OF BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS REMUNERATION IN 2019The details of the nominal amount of remuneration for the Board of Commissioners and Directors based on the remuneration structure are as follows:

Information regarding the salary ratio of the Board of Commissioners, Directors and employees of the Company is as follows:

HIghest employee in the table above refers to the Vice President level, while the lowest employee is the staff level.


Bonus Non Kinerja dan Opsi Saham Dewan Komisaris dan Direksi

Struktur dan komponen remunerasi yang diterima oleh Dewan Komisaris dan Direksi tidak terdapat pemberian bonus non kinerja, dan/atau opsi saham bagi setiap anggota Dewan Komisaris dan Direksi.

RAPAT DEWAN KOMISARIS DAN DIREKSI

RAPAT DEWAN KOMISARISRapat Dewan Komisaris telah diagendakan sebelum tahun berjalan seperti tercantum dalam program kerja Dewan Komisaris tahun 2019. Sesuai Anggaran Dasar Perseroan, rapat Dewan Komisaris diadakan sekurang-kurangnya sekali setiap 2 (dua) bulan. Pemanggilan rapat dilakukan oleh Komisaris Utama dan disampaikan paling lambat 3 (tiga) hari sebelum rapat diadakan, dengan tidak memperhitungkan tanggal pemanggilan dan tanggal rapat, atau dalam waktu yang lebih singkat jika dalam keadaan mendesak. Rapat Dewan Komisaris adalah sah dan berhak mengambil keputusan yang mengingat apabila dihadiri atau diwakili oleh lebih dari ½ (satu per dua) dari jumlah anggota Dewan Komisaris atau diwakili dalam rapat.

Bahan rapat disampaikan kepada peserta rapat paling lambat 5 (lima) hari sebelum rapat diselenggarakan atau dapat disesuaikan dengan tingkat kebutuhan dan kompleksitas materi Rapat. Dalam hal terdapat rapat yang diselenggarakan di luar jadwal yang telah disusun, bahan rapat disampaikan kepada peserta rapat paling lambat sebelum rapat diselenggarakan.

Sesuai Program Kerja Dewan Komisaris tahun 2019 dijelaskan bahwa Rapat Internal Dewan Komisaris dilaksanakan 1 (satu) kali dalam sebulan yang dihadiri oleh seluruh anggota Dewan Komisaris. Selama tahun 2019 Dewan Komisaris menyelenggarakan 12 (dua belas) kali Rapat Dewan Komisaris.

Risalah Rapat Internal Dewan Komisaris dan Kehadiran Dewan Komisaris:

Tanggal RapatMeeting Date

TempatPlace

Agenda RapatMeeting Agenda

Peserta RapatMeeting Participant

Senin, 21 Januari 2019Monday, January 21, 2019

Jakarta Laporan Bulanan KinerjaRealisasi Rencana Kerja Dewan Komisaris Tahun 2018RUPS TahunanMonthly Performance ReportsRealization of the Board of Commissioners' Work Plan for 2018Annual GMS

Narendra WidjajantoPradana Ramadhian G.*Lusiaga Levi SusilaAfdal Martha** Eman Salman Arief

Kamis, 14 Februari 2019Thursday, February 14, 2019

Jakarta Laporan Bulanan KinerjaMonthly Performance Reports

Narendra WidjajantoPradana Ramadhian G.* Lusiaga Levi SusilaAfdal Martha** Eman Salman Arief

Jumat, 22 Maret 2019Friday, March 22, 2019

Jakarta Laporan Bulanan KinerjaRUPS TahunanEvaluasi Kantor Akuntan PublikMonthly Performance ReportsAnnual GMSEvaluation of a Public Accountant Firm

Narendra WidjajantoPradana Ramadhian G.* Lusiaga Levi SusilaAfdal Martha** Eman Salman Arief

Non-Performance Bonuses and Stock Options of the Board of Commissioners and DirectorsThe structure and components of remuneration received by the Board of Commissioners and Directors do not include non-performance bonuses, and/or share options for each member of the Board of Commissioners and Directors.

BOARD OF COMMISSIONERS AND DIRECTORS MEETING

BOARD OF COMMISSIONERS MEETINGMeetings of the Board of Commissioners have been scheduled before the current year as stated in the work program of the Board of Commissioners in 2019. In accordance with the Company's Articles of Association, the Board of Commissioners meeting is held at least once every 2 (two) months. The summons for the meeting is conducted by the President Commissioner and is delivered no later than 3 (three) days before the meeting is held, not taking into account the date of the summons and the date of the meeting, or in a shorter time if it is urgent. The Board of Commissioners' meeting is valid and has the right to make decisions considering that it is attended or represented by more than ½ (one-half) of the total members of the Board of Commissioners or represented at the meeting.

Meeting materials are delivered to meeting participants no later than 5 (five) days before the meeting is held or can be adjusted to the level of needs and complexity of the Meeting material. In the event that a meeting is held outside the schedule that has been arranged, the meeting material is delivered to the meeting participants no later than before the meeting is held.

In line with the 2019 Board of Commissioners Work Program, it is explained that the Board of Commissioners' Internal Meetings are held 1 (one) time a month which is attended by all members of the Board of Commissioners. During 2019 the Board of Commissioners held 12 (twelve) meetings of the Board of Commissioners.

Minutes of Internal Meeting of the Board of Commissioners and the Presence of the Board of Commissioners:




TempatPlace



Senin, 22 April 2019Monday, April 22, 2019

Jakarta Laporan Bulanan KinerjaRUPS TahunanKomite Penunjang Dewan KomisarisMonthly Performance ReportsAnnual GMSSupporting Committee of the Board of Commissioners

Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan***Eman Salman AriefAntonius Ratdomopurbo****

Jumat, 24 Mei 2019Friday, May 24, 2019



27 Juni 2019June 27, 2019



22 Juli 2019July 22, 2019

Jakarta Laporan Bulanan KinerjaPengembangan Usaha dan InvestasiMonthly Performance ReportsBusiness and Investment Development

Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan***Eman Salman Arief



Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan***Eman Salman Arief

25 September 2019 September 25, 2019

Jakarta Laporan Bulanan KinerjaRencana Jangka Panjang PerusahaanMonthly Performance ReportsThe Company's Long-term Plan

Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan***Antonius Ratdomopurbo****


Jakarta Laporan Bulanan KinerjaPenunjukan Kantor Akuntan PublikPengembangan Usaha dan InvestasiMonthly PerformanceReports Appointment of Public Accounting Firm Business Development and Investment


27 November 2019 November 27, 2019

Jakarta Laporan Bulanan KinerjaPengembangan Usaha dan InvestasiRencana Kerja dan Anggaran PerusahaanMonthly Performance ReportsBusiness Development and InvestmentCompany Work Plan and Budget

Lusiaga Levi SusilaAnis Baridwan***Eman Salman Arief


Jakarta Laporan Bulanan KinerjaPengembangan Usaha dan InvestasiMonthly Performance Reports Business Development and Investment


*Menjabat sebagai Komisaris Independen sampai dengan RUPS Tahunan tanggal 11 April 2019**Menjabat sebagai Komisaris sampai dengan RUPS Tahunan tanggal 11 April 2019

*** Menjabat sebagai Komisaris Independen sejak RUPS Tahunan tanggal 11 April 2019**** Menjabat sebagai Komisaris sejak RUPS Tahunan tanggal 11 April 2019

* Served as Independent Commissioner until the Annual General Meeting of Shareholders on April 11, 2019** Served as Commissioner until the Annual General Meeting of Shareholders on April 11, 2019*** Served as Independent Commissioner since the Annual General Meeting of Shareholders on April 11, 2019**** Appointed as Commissioner since the Annual General Meeting of Shareholders on April 11, 2019


Rekapitulasi kehadiran anggota Dewan Komisaris pada Rapat Internal Dewan Komisaris dapat dilihat di bawah ini:

Rekapitulasi Kehadiran Dewan Komisaris pada Rapat Internal Dewan KomisarisRecapitulation of the Board of Commissioners’ Attendance at the Board of Commissioners’ Internal Meeting


Jumlah Wajib RapatTotal

of Meeting Required

Jumlah KehadiranTotal

of Meeting Attended

% Kehadiran% Attendance

Narendra Widjajanto 12 11 92%Lusiaga Levi Susila 12 12 100%Anis Baridwan* 9 9 100%Eman Salman Arief 12 9 67%Antonius Ratdomopurbo** 9 6 67%Pradana Ramadhian G.*** 3 3 100%Afdal Martha**** 3 3 100%Rata-Rata | Average 89%

*Menjabat sebagai Komisaris Independen sejak dengan RUPS Tahunan tanggal 11 April 2019**Menjabat sebagai Komisaris sejak dengan RUPS Tahunan tanggal 11 April 2019

***Menjabat sebagai Komisaris Independen sampai dengan RUPS Tahunan tanggal 11 April 2019****Menjabat sebagai Komisaris sampai dengan RUPS Tahunan tanggal 11 April 2019

RAPAT DIREKSISesuai dengan ketentuan pada Anggaran Dasar Perseroan dan Board Manual, Direksi wajib mengadakan rapat internal paling kurang 1 (satu) kali dalam setiap bulan. Rapat dilakukan untuk membicarakan mengenai hal-hal strategis atau operasional. Strategis artinya adalah hal-hal yang diputuskan dengan memerlukan diterbitkannya surat keputusan Direksi atau memo Direksi yang berdampak pada semua unit kerja. Sedangkan operasional, artinya hal-hal yang berkenaan dengan tindak lanjut yang diperlukan untuk pelaksanaan keputusan strategis.

Materi rapat disiapkan oleh Sekretaris Perusahaan dan disampaikan paling lambat lima hari sebelum rapat diselenggarakan. Materi rapat disampaikan bersamaan dengan penyampaian undangan rapat.

Semua keputusan dalam rapat Direksi diambil dengan musyawarah untuk mufakat. Apabila tidak tercapai musyawarah mufakat, maka keputusan diambil dengan pemutuan suara berdasarkan suara setuju paling sedikit ½ (satu per dua) dari jumlah suara yang dikeluarkan dalam rapat.

Di sepanjang tahun 2019, Direksi melaksanakan rapat sebanyak 37 (tiga puluh tujuh) kali. Berikut disampaikan agenda dan risalah rapat, kehadiran, serta rekapitulasi tingkat kehadiran Direksi dalam rapat-rapat tersebut.

Recapitulation of the presence of members of the Board of Commissioners at the Internal Meeting of the Board of Commissioners can be seen below:

* Served as Independent Commissioner since the Annual General Meeting of Shareholders on April 11, 2019** Served as Commissioner since the Annual General Meeting of Shareholders on April 11, 2019*** Served as Independent Commissioner until the Annual General Meeting of Shareholders on April 11, 2019**** Served as Commissioner until the Annual General Meeting of Shareholders on April 11, 2019

DIRECTORS MEETINGIn accordance with the provisions in the Company's Articles of Association and the Board Manual, the Board of Directors is required to hold an internal meeting at least 1 (one) time each month. Meetings are held to discuss strategic or operational matters. Strategic means are matters that are decided by requiring the issuance of a Directors 'decision letter or Directors' memo which affects all work units. While operational, it means matters relating to the follow-up needed for the implementation of strategic decisions.

Meeting materials are prepared by the Corporate Secretary and submitted no later than five days before the meeting is held. Material for the meeting will be conveyed together with the meeting invitation.

All decisions in the Directors' meeting are taken by deliberation to reach consensus. If no consensus is reached, then a decision is made by voting based on agreed votes of at least ½ (one-half) of the total votes cast at the meeting.

Throughout 2019, the Board of Directors held meetings 37 (thirty seven). Following is the agenda and minutes of meetings, attendance, and recapitulation of the level of attendance of the Directors at these meetings.



Risalah dan Kehadiran Rapat DireksiMinutes and Attendance of Board of Directors’ Meetings

Tanggal RapatDate of Meetings


8 Januari 2019 January 8, 2019

Pembahasan kerjasama ElnusaElnusa cooperation discussion


Persiapan rapat gabungan Dewan KomisarisPreparation for joint meetings of the Board of Commissioners


Sinergi Anak Perusahaan HuluSynergy of Upstream Subsidiaries

29 Januari 2019 29 January, 2019

Rapat Gabungan ManajemenManagement Joint Meeting

7 Februari 2019 February 7, 2019

Persiapan RUPS dan tindak lanjut investasiGMS preparation and investment follow-up


Program prioritas 20192019 priority program


Persiapan materi Rapat Gabungan Dewan KomisarisPreparation for the Board of Commissioners Joint Meeting

5 Maret 2019 March 5, 2019

Pemanfaatan asset di KarawangUtilization of assets in Karawang

12 Maret 2019 March 12, 2019

Rencana Perubahan Anggaran Dasar PerusahaanPlanned Amendment to the Company’s Articles of Association

15 Maret 2019 March 15, 2019

Investasi alat marine seismicInvestment in marine seismic tools

28 Maret 2019 March 28, 2019

Dry run Rapat Gabungan Dewan KomisarisDry run of Joint Meeting of the Board of Commissioners

2 April 2019April 2, 2019

Investasi dan asset di BalikpapanInvestment and assets in Balikpapan

10 April 2019April 10, 2019

Persiapan RUPSPreparation of GMS

23 April 2019April 23, 2019

Progress report operasiOperation progress report

26 April 2019April 26, 2019

Rencana investasiInvestment plan

7 Mei 2019May 7, 2019

strategi pencapaian learning hoursStrategies for learning hours achievement

21 Mei 2019May 21, 2019

Persiapan rapat gabungan Dewan KomisarisPreparation for joint meetings of the Board of Commissioners

31 Mei 2019May 31, 2019

Investasi alat operasiOperating tool investment

18 Juni 2019June 18, 2019

Dry run Rapat Gabungan Dewan KomisarisDry run of Joint Meeting of the Board of Commissioners

2 Juli 2019July 2, 2019

Pembahasan RKAPDiscussion on RKA

4 Juli 2019July 4, 2019

Pembahasan Operasi dan InvestasiOperation and Investment Discussion

8 Juli 2019July 8, 2019

Pembahasan kinerja OperasiDiscussion of Operating performance

15 Juli 2019July 15, 2019

Kinerja Perusahaan dan kinerja SahamCompany Performance and Shares performance

23 Juli 2019July 23, 2019

Rapat Gabungan ManajemenJoint Management Meeting


Pembahasan investasiInvestment discussion


Proyeksi pencapaian 2019 dan kinerja OperasionalProjected achievement of 2019 and Operational performance

3 September 2019September 3, 2019

Persiapan Rencana Jangka Panjang PerusahaanPreparation of the Company’s Long Term Plan


Challenge Session RKAPRKAP Challenge Session


Leadership Safety Commitment dan Prognosa Pencapaian KPI Direksi Akhir 2019Leadership Safety Commitment and Prognosis for the Achievement of the Board of Directors' KPI at the End of 2019


Risalah dan Kehadiran Rapat DireksiMinutes and Attendance of Board of Directors’ Meetings

Tanggal RapatDate of Meetings



Pembahasan Gap Kinerja Elnusa Discussion of Elnusa’s Performance Gap


Rapat Manajemen Anak Perusahaan Subsidiary Management Meeting


Pengadaan WorkshopWorkshop Procurement


Pembahasan SK SinergiDiscussion on SK Sinergi


Market Map Capacity and Capability Mapping -Elnusa and Subsidiaries BusinessMarket Map Capacity and Capability Mapping - Elusa and Subsidiaries Business


Preventive Program Illnes Fatality Preventive Illnes Fatality Program


Laporan Kinerja Perusahaan dan Persetujuan RKAP 2020Company Performance Report and 2020 RKAP Approval

03 Desember 2019Desember 3, 2019

Proposal Cascading RKAP dan KPI 2020 EventRKAP Proposal Cascading and KPI 2020 Event

17 Desember 2019Desember 17, 2019

Persetujuan warehouseWarehouse approval

Rekapitulasi kehadiran Direksi pada Rapat Direksi dapat dilihat di bawah ini:

Rekapitulasi Kehadiran Direksi pada Rapat DireksiRecapitulation of the Board of Directors' Attendance at the Board of Directors' Internal Meeting


Jumlah Wajib RapatTotal of Meeting

Requirements

Jumlah KehadiranTotal of Attendance


Elizar Parlindungan Hasibuan 37 32 86%Hery Setiawan 37 32 86%RM Happy Paringhadi 37 31 84%Arief Riyanto 37 34 92%Tolingul Anwar 13 10 77%Rata-RataAverage 85%

RAPAT GABUNGAN DEWAN KOMISARIS DAN DIREKSI

Sesuai dengan Anggaran Dasar Perseroan, Rapat Gabungan Dewan Komisaris dan Direksi diadakan secara berkala paling kurang 1 (satu) kali dalam 4 (empat) bulan seperti membahas kinerja Perusahaan, isu-isu strategis korporasi dan corporate action yang perlu diketahui Dewan Komisaris untuk ditindaklanjuti segera.

Bahan rapat disampaikan kepada peserta rapat paling lambat 5 (lima) hari sebelum rapat diselenggarakan atau dapat disesuaikan dengan tingkat kebutuhan dan kompleksitas materi Rapat. Dalam hal terdapat rapat yang diselenggarakan di luar jadwal yang telah disusun, bahan rapat disampaikan kepada peserta rapat paling lambat sebelum rapat diselenggarakan.

Di tahun 2019, rapat gabungan antara Dewan Komisaris dan Direksi dilaksanakan 12 (dua belas) kali. Berikut disampaikan agenda dan risalah rapat, kehadiran, serta rekapitulasi tingkat kehadiran Dewan Komisaris dan Direksi dalam rapat-rapat tersebut.

Recapitulation of the presence of members of the Board of Directors at the Internal Meeting of the Board of Directors can be seen below:

JOINT MEETING OF THE BOARD OF COMMISSIONERS AND DIRECTORSIn accordance with the Company's Articles of Association, Joint Board of Commissioners and Board of Directors Meetings are held periodically at least 1 (one) time in 4 (four) months, such as discussing the Company's performance, corporate strategic issues and corporate actions that the Board of Commissioners needs to know for immediate action.

Meeting materials are delivered to meeting participants no later than 5 (five) days before the meeting is held or can be adjusted to the level of needs and complexity of the Meeting material. In the event that a meeting is held outside the schedule that has been arranged, the meeting material is delivered to the meeting participants no later than before the meeting is held.

In 2019, joint meetings between the Board of Commissioners and the Board of Directors were held 12 (twelve) times. The following is the agenda and minutes of meetings, attendance, and recapitulation of the attendance of the Board of Commissioners and Directors in these meetings.



Risalah Rapat Gabungan Dewan Komisaris dan Direksi Serta Kehadiran Dewan Komisaris dan Direksi pada Rapat GabunganMinutes of Joint Meeting of the Board of Commissioners and Board of Directors as well as the Presence of the Board of Commissioners and

Board of Directors at the Joint Meeting


TempatPlace



Senin, 21 Januari 2019

Monday, January 21, 2019

Jakarta Laporan Bulanan Kinerja

Monthly Performance Reports

Dewan Komisaris:Board of Commissioners:Narendra WidjajantoPradana Ramadhian G.*Lusiaga Levi SusilaAfdal Martha**Eman Salman Arief

Direksi:Board of Directors:Tolingul Anwar***Elizar P. HasibuanHery SetiawanRM. Happy Paringhadi JS.Arief Riyanto

Selasa, 26 Februari 2019

Tuesday, February 26, 2019

Jakarta Laporan Bulanan KinerjaRencana Kerja dan Anggaran Perusahaan

Monthly Performance ReportsCompany Work Plan and Budget

Dewan KomisarisBoard of Commissioners:Narendra WidjajantoPradana Ramadhian G.* Lusiaga Levi SusilaAfdal Martha** Eman Salman Arief

DireksiBoard of Directors:Tolingul Anwar*** Elizar P. HasibuanHery SetiawanRM. Happy Paringhadi JS.Arief Riyanto

Jumat, 29 Maret 2019

Friday, March 29, 2019

Jakarta Laporan Bulanan KinerjaRUPS Tahunan

Monthly Performance ReportsAnnual GMS

Dewan KomisarisBoard of Commissioners:Narendra WidjajantoPradana Ramadhian G.* Lusiaga Levi SusilaAfdal Martha**

DireksiBoard of Directors:Tolingul Anwar*** Elizar P. HasibuanHery SetiawanRM. Happy Paringhadi JS.Arief Riyanto

Selasa, 30 April 2019

Tuesday, April 30, 2019


Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Eman Salman AriefAntonius Ratdomopurbo*****

DireksiBoard of Directors:Elizar P. Hasibuan******Hery SetiawanRM. Happy Paringhadi JS.





TempatPlace



Jumat, 24 Mei 2019

Friday, May 24, 2019

Jakarta Laporan Bulanan KinerjaPengembangan Usaha dan Investasi

Monthly Performance ReportsBusiness and Investment Development

Dewan KomisarisBoard of Commissioners:Narendra WidjajantoAnis Baridwan****Lusiaga Levi SusilaAntonius Ratdomopurbo*****Eman Salman Arief

Direksi/Board of Directors:Hery SetiawanRM. Happy Paringhadi JS.Arief Riyanto

27 Juni 2019

June 27, 2019


Dewan KomisarisBoard of Commissioners:Narendra WidjajantoAnis Baridwan****Lusiaga Levi SusilaAntonius Ratdomopurbo*****Eman Salman Arief

DireksiBoard of Directors:Elizar P. Hasibuan******RM. Happy Paringhadi JS.Arief Riyanto

22 Juli 2019

July 22, 2019


Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Eman Salman Arief

DireksiBoard of Directors:Elizar P. Hasibuan******Hery SetiawanArief Riyanto

26 Agustus 2019

August 26, 2019


Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Eman Salman Arief

DireksiBoard of Directors:Hery SetiawanRM. Happy Paringhadi JS.Arief Riyanto

25 September 2019

September 25, 2019


Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Antonius Ratdomopurbo*****

DireksiBoard of Directors:Elizar P. Hasibuan******Hery SetiawanRM. Happy Paringhadi JS.Arief Riyanto






TempatPlace



23 Oktober 2019

October 23, 2019

Jakarta Laporan Bulanan KinerjaPengembangan Usaha dan Investasi

Monthly Performance ReportsBusiness and Investment Development

Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Antonius Ratdomopurbo*****DireksiBoard of Directors:Elizar P. Hasibuan******Hery SetiawanRM. Happy Paringhadi JS.Arief Riyanto

27 November 2019

November 27, 2019

Jakarta Laporan Bulanan Kinerja Pengembangan Usaha dan InvestasiRencana Kerja dan Anggaran PerusahaanMonthly Performance ReportsBusiness Development and InvestmentCompany Work Plan and Budget

Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Eman Salman AriefDireksiBoard of Directors:Elizar P. Hasibuan******Hery SetiawanArief Riyanto

18 Desember 2019

December 18, 2019

Jakarta Laporan Bulanan KinerjaPengembangan Usaha dan InvestasiMonthly Performance ReportsBusiness Development and Investment

Dewan KomisarisBoard of Commissioners:Narendra WidjajantoLusiaga Levi SusilaAnis Baridwan****Antonius Ratdomopurbo*****DireksiBoard of Directors:Elizar P. Hasibuan******Hery SetiawanRM. Happy Paringhadi JS.Arief Riyanto


***Menjabat sebagai Direktur Utama sampai dengan RUPS Tahunan tanggal 11 April 2019**** Menjabat sebagai Komisaris Independen sejak RUPS Tahunan tanggal 11 April 2019***** Menjabat sebagai Komisaris sejak RUPS Tahunan tanggal 11 April 2019

******Menjabat sebagai Direktur Utama sejak RUPS Tahunan tanggal 11 April 2019

Rekapitulasi kehadiran anggota Dewan Komisaris dan Direksi pada Rapat Gabungan dapat dilihat di bawah ini:

Rekapitulasi Kehadiran Dewan Komisaris dan Direksi pada Rapat GabunganRecapitulation of the Presence of the Board of Commissioners and Board of Directors at the Joint Meeting


Jumlah Wajib RapatTotal of Meeting Required

Jumlah KehadiranTotal of Meeting Attended



Narendra Widjajanto 12 12 100%Lusiaga Levi Susila 12 12 100%Anis Baridwan* 9 9 100%Eman Salman Arief 12 8 67%Antonius Ratdomopurbo** 9 6 67%Pradana Ramadhian G.*** 3 3 100%

* Served as Independent Commissioner until the Annual General Meeting of Shareholders on April 11, 2019** Served as Commissioner until the Annual General Meeting of Shareholders on April 11, 2019*** Served as President Director until the Annual General Meeting of Shareholders on April 11, 2019**** Served as Independent Commissioner since the Annual General Meeting of Shareholders on April 11, 2019***** Served as Commissioner since the Annual General Meeting of Shareholders on April 11, 2019******Appointed as President Director since the Annual General Meeting of Shareholders on April 11, 2019

Recapitulation of the attendance of members of the Board of Commissioners and Directors at the Joint Meeting can be seen below:


Rekapitulasi Kehadiran Dewan Komisaris dan Direksi pada Rapat GabunganRecapitulation of the Presence of the Board of Commissioners and Board of Directors at the Joint Meeting


Jumlah Wajib RapatTotal of Meeting Required

Jumlah KehadiranTotal of Meeting Attended


Afdal Martha**** 3 3 100%DireksiBoard of Directors

Elizar P. Hasibuan***** 12 10 83%Hery Setiawan 12 11 92%RM. Happy Paringhadi JS. 12 10 83%Arief Riyanto 12 11 92%Tolingul Anwar****** 3 3 100%Rata-rata | Average 90%

* Menjabat sebagai Komisaris Independen sejak RUPS Tahunan tanggal 11 April 2019

**Menjabat sebagai Komisaris sejak RUPS Tahunan tanggal 11 April 2019

***Menjabat sebagai Komisaris Independen sampai dengan RUPS Tahunan tanggal 11 April 2019****Menjabat sebagai Komisaris sampai dengan RUPS Tahunan tanggal 11 April 2019

*****Menjabat sebagai Direktur Utama sejak RUPS Tahunan tanggal 11 April 2019

****** Menjabat sebagai Direktur Utama sampai dengan RUPS Tahunan tanggal 11 April 2019

KEPUTUSAN DAN TINDAK LANJUT RAPATSeluruh keputusan hasil Rapat Direksi, Rapat Dewan Komisaris dan Rapat Gabungan Dewan Komisaris dan Direksi tertuang dalam notulen rapat yang ditandatangani oleh Direksi dan/atau Dewan Komisaris. Sekretaris Dewan Komisaris ditugaskan untuk memonitor pelaksanaan keputusan dan rekomendasi Dewan Komisaris, sedangkan Sekretaris Perusahaan ditugaskan untuk memonitor pelaksanaan dan rekomendasi Direksi. Hal yang perlu ditindaklanjuti harus dilaporkan kembali dalam rapat selanjutnya.

RENCANA RAPAT DIREKSI DAN DEWAN KOMISARIS TAHUN BUKU 2020Dalam Anggaran Dasar Perseroan telah diatur ketentuan mengenai pelaksanaan Rapat Dewan Komisaris dan Rapat Direksi, yakni bahwa Rapat Dewan Komisaris dilaksanakan minimal sekali setiap 2 (dua) bulan, Rapat Dewan Komisaris mengundang Direksi dilaksanakan minimal sekali setiap 4 (empat) bulan, serta Rapat Direksi dilaksanakan minimal sekali setiap 1 (satu) bulan.

Untuk lebih meningkatkan koordinasi dan pengambilan keputusan yang lebih efektif, maka untuk tahun 2020, sesuai Program Kerja Dewan Komisaris, Rapat Internal Dewan Komisaris dan Rapat Dewan Komisaris yang mengundang Direksi akan dilaksanakan minimal sekali dalam 1 (satu) bulan. Penyelenggaraan rapat Dewan Komisaris tersebut direncanakan dilakukan setiap minggu ke-3 pada bulan berjalan dengan agenda rapat di antaranya membahas tentang Laporan Bulanan Kinerja dan tindak lanjut atas arahan dan/atau keputusan Dewan Komisaris dan/atau tindak lanjut yang dilaksanakan oleh Direksi serta hal-hal lain yang dianggap perlu sesuai tugas dan fungsi pengawasan Dewan Komisaris.

* Served as Independent Commissioner since the Annual General Meeting of Shareholders on April 11, 2019** Served as Commissioner since the Annual General Meeting of Shareholders on April 11, 2019*** Served as Independent Commissioner until the Annual General Meeting of Shareholders on April 11, 2019**** Served as Commissioner until the Annual General Meeting of Shareholders on April 11, 2019*****Appointed as President Director since the Annual General Meeting of Shareholders on April 11, 2019****** Served as President Director until the Annual General Meeting of Shareholders on April 11, 2019

DECISIONS AND FOLLOW-UP MEETINGSAll decisions of the results of the Board of Directors' Meetings, Board of Commissioners Meetings and Joint Meetings of the Board of Commissioners and Directors are contained in minutes of the meeting signed by the Directors and/or the Board of Commissioners. The Secretary of the Board of Commissioners is assigned to monitor the implementation of the decisions and recommendations of the Board of Commissioners, while the Corporate Secretary is assigned to monitor the implementation and recommendations of the Board of Directors. Matters that need to be followed up must be reported in the next meeting.

PLANS FOR DIRECTORS AND BOARD OF COMMISSIONERS MEETINGS FOR FISCAL YEAR 2020In the Articles of Association of the Company, provisions regarding the implementation of Board of Commissioners and Board of Directors Meetings, namely that Board of Commissioners Meetings are held at least once every 2 (two) months, Board of Commissioners Meetings invite Directors to be held at least once every 4 (four) months, and Board of Directors Meetings are held at least once every 1 (one) month.

To further improve coordination and more effective decision making, for 2020, according to the Work Program of the Board of Commissioners, the Internal Meeting of the Board of Commissioners and the Meeting of the Board of Commissioners which invites the Directors will be held at least once in 1 (one) month. The Board of Commissioners meeting is planned to be held every 3rd week in the current month with the agenda of the meeting including discussing the Monthly Performance Report and follow-up on directives and/or decisions of the Board of Commissioners and/or follow-up carried out by the Board of Directors as well as other matters that deemed necessary according to the duties and functions of the Board of Commissioners' supervision.



Untuk Rapat Direksi di tahun 2020 direncanakan dilaksanakan sekali setiap minggu selama tahun buku berjalan. Agenda rapat di antaranya membahas tentang laporan masing-masing Direktorat, penetapan kebijakan strategis Perusahaan, kinerja operasional, strategi perusahaan serta hal-hal lain yang dianggap perlu sesuai tugas dan fungsi Direksi.

PENGUNGKAPAN HUBUNGAN AFILIASI ANTARA DIREKSI, DEWAN KOMISARIS, DAN PEMEGANG SAHAM UTAMA DAN/ATAU PENGENDALI

PEMEGANG SAHAM UTAMA, PEMEGANG SAHAM PENGENDALI, HINGGA NAMA PEMILIK AKHIRPemegang Saham Utama/Pengendali Perseroan adalah PT Pertamina (Persero) dengan kepemilikan sebesar 41,1%. Pertamina adalah perusahaan energi nasional yang 100% kepemilikan sahamnya dimiliki oleh Pemerintah Republik Indonesia, melalui Kementerian Negara Badan Usaha Milik Negara (BUMN) selaku Kuasa Pemegang Saham. Dengan demikian, entitas induk tertinggi, atau ultimate parent entity Perseroan adalah Pemerintah Republik Indonesia, karena merupakan pemegang saham utama/pengendali dari Pertamina selaku pemegang saham utama/pengendali Perseroan.

PENGUNGKAPAN HUBUNGAN AFILIASI ANTARA DIREKSI, DEWAN KOMISARIS, DAN PEMEGANG SAHAM UTAMA/PENGENDALIPemegang Saham Pengendali, Dewan Komisaris dan Direksi saling menghormati pelaksanaan tugas, tanggung jawab, dan wewenang masing-masing sesuai peraturan perundang-undangan dan Anggaran Dasar. Dewan Komisaris dan Direksi Perseroan memiliki pedoman dan tata tertib kerja yang mencantumkan antara lain tanggung jawab, kewajiban, wewenang, dan hak masing-masing.

Sesuai dengan Anggaran Dasar Perseroan dan Pedoman Kerja Dewan Komisaris dan Direksi (Board Manual) setiap anggota Dewan Komisaris dan Direksi dilarang untuk memiliki hubungan keluarga sedarah sampai dengan derajat ketiga, baik menurut garis lurus maupun garis ke samping atau hubungan semenda (menantu atau ipar) dengan Anggota Dewan Komisaris dan/ atau Direktur lainnya.

Setiap anggota Dewan Komisaris dan Direksi yang baru menjabat juga diwajibkan untuk membuat surat pernyataan terkait dengan pemenuhan persyaratan yang wajib dipenuhi oleh setiap anggota Dewan Komisaris dan Direksi, dimana di antaranya adalah menyatakan status hubungan afiliasi, dan hubungan kepengurusan di perusahaan lain. Hal ini untuk memastikan tidak adanya rangkap jabatan yang dapat menimbulkan benturan kepentingan secara langsung atau tidak langsung dengan Perseroan atau yang bertentangan dengan ketentuan peraturan perundang-undangan yang berlaku dan Anggaran Dasar Perseroan.

The 2020 Board of Directors Meeting is planned to be held once a week during the current fiscal year. The agenda of the meeting included discussing the reports of each Directorate, determining the Company's strategic policies, operational performance, corporate strategy and other matters deemed necessary according to the duties and functions of the Directors.

DISCLOSURE OF AFFILIATED RELATIONSHIP BETWEEN DIRECTORS, BOARD OF COMMISSIONERS, AND MAJOR AND/OR CONTROLLING SHAREHOLDERS

MAJOR SHAREHOLDERS, CONTROLLING SHAREHOLDERS, UNTIL THE NAME OF THE FINAL OWNERThe Company's main/controlling shareholder is PT Pertamina (Persero) with an ownership interest of 41.1%. Pertamina is a national energy company whose shares are 100% owned by the Government of the Republic of Indonesia, through the State Ministry of State-Owned Enterprises (BUMN) as the Shareholders' Authority. Therefore, the highest parent entity, or the ultimate parent entity of the Company, is the Government of the Republic of Indonesia, because it is the main/controlling shareholder of Pertamina as the main/controlling shareholder of the Company.

DISCLOSURE OF AFFILIATE RELATIONSHIP BETWEEN BOARD OF DIRECTORS, BOARD OF COMMISSIONERS, AND MAJOR/CONTROLLING SHAREHOLDERSThe Controlling Shareholders, the Board of Commissioners and the Board of Directors respect each other in carrying out their respective duties, responsibilities and authorities in accordance with the laws and regulations and the Articles of Association. The Board of Commissioners and Board of Directors of the Company have work guidelines and procedures which include, among others, their respective responsibilities, obligations, authorities and rights.

In accordance with the Articles of Association of the Company and the Board of Commissioners and Board of Directors' Work Guidelines, each member of the Board of Commissioners and Board of Directors is prohibited from having family relations up to the third degree, either in a straight line or sideways or in a marital relationship (child-in-law or in-laws) with Other members of the Board of Commissioners and/or Board of Directors.

Every new member of the Board of Commissioners and Board of Directors is also required to make a statement relating to the fulfillment of the requirements that must be fulfilled by each member of the Board of Commissioners and the Board of Directors, which among others is to state the status of affiliation, and management relationships in other companies. This is to ensure there are no concurrent positions that can lead to a conflict of interest directly or indirectly with the Company or that are in conflict with the provisions of the applicable laws and regulations and the Company's Articles of Association.



Hubungan Keluarga denganFamily Relationship with

Hubungan Keuangan denganFinancial Relationship with

Dewan KomisarisBoard of

Commissioners


PT Pertamina (Persero) selaku Pemegang Saham

Utama/ Pengendali Perseroan

PT Pertamina (Persero) as the Major Shareholder/

Controller of the Company

Dewan KomisarisBoard of

Commissioners


PT Pertamina (Persero) selaku Pemegang

Saham Utama/ Pengendali Perseroan

PT Pertamina (Persero) as the Major Shareholder/Controller

of the CompanyDewan Komisaris

Board of Commissioners

Narendra Widjajanto x x x x x v Lusiaga Levi Susila x x x x x xAnis Baridwan x x x x x xEman Salman Arief x x x x x v Antonius Ratdomopurbo x x x x x x Pradana Ramadhian G.* x x x x x xAfdal Martha** x x x x x v


Elizar Parlindungan Hasibuan x x x x x xHery Setiawan x x x x x xRM Happy Paringhadi x x x x x x

Arief Riyanto x x x x x xv = terdapat adanya hubungan | x = tidak terdapat adanya hubungan


PENGUNGKAPAN RANGKAP JABATAN DEWAN KOMISARIS DAN DIREKSI

Berikut disampaikan transparansi rangkap jabatan yang dimiliki Dewan Komisaris dan Direksi Perseroan pada perusahaan lain dalam periode tahun 2019:


Kepengurusan pada Perusahaan/Institusi LainManagement in Other Companies/Institutions

Sebagai Anggota Dewan Komisaris

As a member of Board of Commissioners

Sebagai Anggota DireksiAs a member of Board of Directors

Jabatan LainnyaOther Position


Narendra Widjajanto v v xLusiaga Levi Susila x x xAnis Baridwan v x vEman Salman Arief x x vAntonius Ratdomopurbo x x v


Elizar Parlindungan Hasibuan x x xHery Setiawan v x xRM Happy Paringhadi v x xArief Riyanto v x xv = ada | x = tidak ada v : hold a position | x : does not hold a position

* Served as Independent Commissioner until the Annual General Meeting of Shareholders on April 11, 2019** Served as Commissioner until the Annual General Meeting of Shareholders on April 11, 2019

DISCLOSURE OF CONCURRENT POSITION OF BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS

Following are the transparency of concurrent positions held by the Company's Board of Commissioners and Directors in other companies in the 2019 period:



Penjelasan terkait kepengurusan pada Perusahaan/Institusi Lain, adalah sebagai berikut:

NamaName

Jabatan pada Perusahaan/Instansi LainPosition in Other Companies/Institutions


Narendra Widjajanto • Direktur Utama PT Kilang Pertamina Balikpapan (2019-sekarang)• Komisaris PT Pertamina Power Indonesia (2019-2020)• Direktur Maurel & Prom, Paris (2019-2020)• President Director of PT Kilang Pertamina Balikpapan (2019-present)• Commissioner of PT Pertamina Power Indonesia (2019-2020)• Director of Maurel & Prom, Paris (2019-2020)

Anis Baridwan • Dosen Magister Management Universitas Gadjah Mada (2002-sekarang)• Komite Audit PT Kustodian Sentral Efek Indonesia (2015-sekarang)• Komisaris Independen PT Waskita Beton Precast Tbk (2018-sekarang)• Komisaris Independen PT Envy Teknologies Indonesia Tbk (2018-sekarang)• Komisaris Independen PT Nikko Sekuritas Indonesia (2018-sekarang)• Lecturer in Management at Gadjah Mada University (2002-present)• Audit Committee of the Indonesian Central Securities Depository (2015-present)• Independent Commissioner of PT Waskita Beton Precast Tbk (2018-present)• Independent Commissioner of PT Envy Teknologies Indonesia Tbk (2018-present)• Independent Commissioner of PT Nikko Sekuritas Indonesia (2018-present)

Eman Salman Arief VP Supply Chain Planning & Optimization, Integrated Supply Chain PT Pertamina (Persero) (2019-sekarang)VP Supply Chain Planning & Optimization, Integrated Supply Chain PT Pertamina (Persero) (2019-present)

Antonius Ratdomopurbo Sekretaris Badan Geologi, Kementerian ESDM (2017-sekarang)Secretary of the Geology Agency, Ministry of Energy and Mineral Resources (2017-present)


Hery Setiawan • Komisaris PT Elnusa Petrofin *)• Komisaris PT Elnusa Geosains *)• Commissioner at PT Elnusa Petrofin *)• Commissioner at PT Elnusa Geosains *)

RM Happy Paringhadi • Komisaris PT Sigma Cipta Utama *)• Komisaris PT Patra Nusa Data *)• Commissioner at PT Sigma Cipta Utama *)• Commissioner at PT Patra Nusa Data *)

Arief Riyanto • Komisaris Utama PT Elnusa Trans Samudera *)• Komisaris PT Elnusa Fabrikasi Konstruksi *)• Komisaris PT Elnusa Oilfield Services *)• President Commissioner at PT Elnusa Trans Samudera *)• Commissioner at PT Elnusa Fabrikasi Konstruksi *)• Commissioner at PT Elnusa Oilfield Services *)

*) Entitas Anak Perseroan dan bukan Perusahaan Publik

INDEPEDENSI SERTA PENGUNGKAPAN KEPEMILIKAN SAHAM DEWAN KOMISARIS DAN DIREKSI

Kepemilikan saham anggota Dewan Komisaris dan Direksi pada Perseroan dan perusahaan lainnya senantiasa diungkapkan secara berkala melalui daftar kepemilikan saham anggota Dewan Komisaris dan Direksi. Setiap anggota Dewan Komisaris dan Direksi wajib membuat pernyataaan mengenai status independesinya agar anggota Dewan Komisaris dan Direksi dapat bertindak sebaik-baiknya demi kepentingan Perseroan secara keseluruhan. Selain itu Anggota Dewan Komisaris dan Direksi juga berkewajiban untuk mengisi Daftar Khusus yang memuat informasi mengenai kepemilikan sahamnya dan/atau keluarganya di Perseroan maupun di perusahaan lain. Surat Pernyataan dan Daftar Khusus tersebut disimpan dan diadministrasikan oleh Corporate Secretary.

Explanations related to management at other companies/institutions are as follows:

*) The Company Subsidiary and not the Public Company

DISCLOSURE OF INDEPENDENCE AND SHARE OWNERSHIP OF THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS

Share ownership of members of the Board of Commissioners and Board of Directors in the Company and other companies is regularly disclosed through the list of share ownership of the members of the Board of Commissioners and Board of Directors. Each member of the Board of Commissioners and Board of Directors must make a statement regarding their independence status so that members of the Board of Commissioners and Board of Directors can act in the best interests of the Company as a whole. In addition, members of the Board of Commissioners and Board of Directors are also obliged to fill out a Special Register that contains information regarding ownership of their shares and/or their families in the Company or in other companies. The Statement and Special Register are kept and administered by the Corporate Secretary.


Jika terjadi perubahan status yang dapat mempengaruhi independensinya termasuk apabila terdapat perubahan kepemilikan saham baik pribadi dan/atau keluarganya pada Perseroan dan/atau perusahaan lain, anggota Dewan Komisaris dan Direksi wajib untuk melaporkannya kepada Perseroan.

Berikut disampaikan transparansi kepemilikan saham Perseroan oleh Dewan Komisaris dan Direksi, dan kepemilikan saham perusahaan lain di atas 5% oleh Dewan Komisaris dan Direksi Perseroan yang dapat menimbulkan potensi benturan kepentingan dalam pengambilan keputusan.

Kepemilikan Saham Dewan Komisaris dan DireksiShare ownership of Board of Commissioners and Board of Directors


Kepemilikan Saham Share Ownership

Elnusa (Kode Saham: ELSA)Elnusa (Share Code: ELSA)

Perusahaan Lain > 5%Other Companies >5%


Narendra Widjajanto NihilNil

NihilNil

Lusiaga Levi Susila NihilNil

NihilNil

Anis Baridwan NihilNil

NihilNil

Eman Salman Arief NihilNil

NihilNil

Antonius Ratdomopurbo NihilNil

NihilNil


Elizar Parlindungan Hasibuan NihilNil

NihilNil

Hery Setiawan NihilNil

NihilNil

RM Happy Paringhadi NihilNil

NihilNil

Arief Riyanto NihilNil

NihilNil

Pernyataan Kepemilikan Saham Pribadi dan KeluargaDisclosure of Private and Family Share Ownership


Pribadi padaPerseroan

Private in the Company

Keluarga padaPerseroan

Family in the Company

Pribadi pada perusahaan Lain

Private in Other Companies

Keluarga pada perusahaan LainFamily in Other

CompaniesYaYes

TidakNo

YaYes

TidakNo

YaYes

TidakNo

YaYes

TidakNo


Narendra Widjajanto - x - x - x - xLusiaga Levi Susila - x - x - x - xAnis Baridwan - x - x - x - xEman Salman Arief - x - x - x - xAntonius Ratdomopurbo - x - x - x - x


Elizar Parlindungan Hasibuan - x - x x - - xHery Setiawan - x - x x - - xRM Happy Paringhadi - x - x x - - xArief Riyanto - x - x - x - x

If there is a change in status that can affect its independence including if there is a change in ownership of shares both personal and/or his family in the Company and/or other companies, members of the Board of Commissioners and Board of Directors must report it to the Company.

Following this is the transparency of the Company's share ownership by the Board of Commissioners and Board of Directors, and ownership of other companies above 5% by the Board of Commissioners and Board of Directors of the Company which could lead to potential conflicts of interest in decision making.



KEBERAGAMAN KOMPOSISI DEWAN KOMISARIS DAN DIREKSI

Perseroan berupaya untuk menjaga bauran keragaman komposisi Dewan Komisaris dan Direksi. Perseroan meyakini bahwa keberagaman keahlian, pengalaman dan latar belakang pendidikan sangat diperlukan untuk efektivitas tugas pengawasan Dewan Komisaris dan pengurusan Perusahaan oleh Direksi. Dewan Komisaris dan Direksi yang ditunjuk berdasarkan Keputusan RUPS memiliki komposisi yang cukup beragam baik berdasarkan usia, latar belakang pendidikan, keahlian serta pengalaman yang dibutuhkan dalam pelaksanaan tugas dan tanggung jawabnya.

Per 31 Desember 2019, Perseroan belum memiliki aturan tertulis yang mengatur keberagaman komposisi Dewan Komisaris dan Direksi. Dalam mengangkat anggota Dewan Komisaris dan Direksi, Perseroan mempertimbangkan kompetensi kandidat dan mengacu pada peraturan perundangan yang berlaku.

Adapun keberagaman komposisi Dewan Komisaris dan Direksi Perseroan adalah sebagai berikut:


KewarganegaraanNationality

Latar Belakang PendidikanEducation Background


KeahlianExpertise

UsiaAge

JenisKelaminGender


Narendra Widjajanto

Indonesia S1 Ekonomi AkuntansiS2 Ekonomi AkuntansiBachelor’s Degree in AccountingMaster’s Degree in Accounting

Berpengalaman 29 tahun di Pertamina Grup dengan berbagai posisi strategis di bidang keuangan dan treasury.29 years of experience in the Pertamina Group with various strategic positions in finance and treasury.

Ekonomi, Akuntansi, ManajemenEconomy, Accounting, Management

56 PriaMale

Lusiaga Levi Susila Indonesia S1 FisikaBachelor’s Degree in Physics

Lebih dari 38 tahun berkiprah di industri migasMore than 38 years working in the oil and gas industry

Fisika, MigasPhysics, Oil & Gas

63 PriaMale

Anis Baridwan Indonesia S1 Ekonomi AkuntansiS2 Akuntansi dan FinanceBachelor Degree in Bachelor’sMaster’s Degree in Accounting and Finance

Memiliki beragam pengalaman sebagai bagian dari pembuat kebijakan maupun sebagai pengajar ilmu ekonomi dan manajemenHas a variety of experiences as part of policy makers and as an instructor in economics and management

Ekonomi, Akuntansi, ManajemenEconomy, Accounting, Management

64 PriaMale

DIVERSITY IN THE COMPOSITION OF THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS

The Company strives to maintain the diversity of the composition of the Board of Commissioners and Board of Directors. The Company believes that the diversity of expertise, experience and educational background is indispensable for the effectiveness of the supervisory duties of the Board of Commissioners and the management of the Company by the Board of Directors. The Board of Commissioners and Board of Directors who are appointed based on the GMS Decree have a quite diverse composition based on their age, educational background, expertise and experience needed in carrying out their duties and responsibilities.

As of December 31, 2019, the Company did not have written rules governing the diversity of the composition of the Board of Commissioners and Directors. In appointing members of the Board of Commissioners and Directors, the Company considers the competency of candidates and refers to the applicable laws and regulations.

The diversity of the composition of the Company's Board of Commissioners and Directors is as follows:



KewarganegaraanNationality

Latar Belakang PendidikanEducation Background


KeahlianExpertise

UsiaAge

JenisKelaminGender

Eman Salman Arief Indonesia S1 Teknik KimiaS2 ManajemenBachelor’s Degree in Chemical Engineering and Master’s Degree in Management

Berpengalaman 29 tahun di Pertamina Grup dengan berbagai posisi strategis di bidang pengolahan29 years experience in the Pertamina Group with various strategic positions in the processing sector

Teknik Kimia, Manajemen, Pengolahan, Supply Chain Management Chemical Engineering, Management, Processing, Supply Chain Management

54 PriaMale

Antonius Ratdomopurbo

Indonesia S1 FisikaS2 Geofisika & GeokimiaS3 Geofisika & GeokimiaBachelor’s Degree in Physics, Master’s and Doctoral in Geophysics and Geochemical

Memiliki beragam pengalaman sebagai bagian dari pembuat kebijakan terutama di industry migas Has a variety of experiences as part of policy makers, especially in the oil and gas industry

Fisika, Geofisika, Geokimia, Information & TechnologyPhysics, Geophysics, Geochemistry, Information & Technology

58 PriaMale



Indonesia S1 Teknik Mesin S2 Business AdministrationBachleor’s degree in Mechanical EngineeringMaster’s degree in Business Administration

Lebih dari 26 tahun berkarir di Pertamina di antaranya di bidang Supply chain, SCMMore than 26 years of career in Pertamina including in the field of Supply chain, SCM

Teknik & EkonomiEngineering & Economics

56 PriaMale

Hery Setiawan Indonesia S1 Ekonomi ManajemenS2 Manajemen Keuangan & InvestasiBachleor’s degree Management EconomicsMaster’s degree in Financial & Investment Management

25 tahun berkarir di keuangan Pertamina & Dana Pensiun Pertamina25 years of career in Pertamina finance & Pertamina Pension Fund

KeuanganFinance

52 PriaMale

RM Happy Paringhadi

Indonesia S1 Teknik KimiaBachleor’s degree in Chemical Engineering

Lebih dari 25 tahun berkarir di Pertamina untuk berbagai posisi (Kepala Perencanaan dan Pengembangan, HR Area Manager, Manpower Planning & Development Manager, Leadership & People Development Manager)More than 25 years of career in Pertamina for various position (Head of Planning and Development, HR Area Manager, Manpower Planning & Development Manager, Leadership & People Development Manager)

Teknik KimiaChemical Engineering

57 PriaMale

Arief Riyanto Indonesia S1 Teknik MesinBachleor’s degree in Mechanical Engineering

Lebih dari 30 tahun berkarir di berbagai industri migas dan infrastrukturMore than 30 years of career in various oil and gas industry and infrastructure

Teknik MesinMechanical Engineering

57 PriaMale



ORGAN PENDUKUNG DEWAN KOMISARISSupporting Organs of the Board of Commissioners

KOMITE AUDIT

Komite Audit merupakan organ pendukung Dewan Komisaris yang berfungsi membantu Dewan Komisaris dalam melaksanakan tugas dan fungsi pengawasan, memastikan Perseroan dikelola dengan manajemen yang sehat secara konsisten sesuai dengan prinsip-prinsip GCG serta membantu dalam memberikan nasihat dalam pelaksanaan pengendalian internal dan audit Perseroan.

Seluruh anggota Komite Audit diangkat dan diberhentikan oleh Dewan Komisaris dan dilaporkan kepada pemegang saham. Komite Audit dibentuk dengan mengacu pada Peraturan OJK No. 55/POJK.04/2015 tentang Pembentukan dan Pelaksanaan Kerja Komite Audit dan dalam rangka pemenuhan prinsip Good Corporate Governance serta peraturan lainnya, kami memiliki Komite Audit yang menjalankan fungsinya dengan baik.

KUALIFIKASI MENJADI ANGGOTA KOMITE AUDIT Anggota Komite Audit Perseroan harus memenuhi persyaratan sebagai berikut:1. Wajib memahami laporan keuangan, bisnis perusahaan

khususnya yang terkait dengan layanan jasa atau kegiatan usaha Perusahaan, proses audit, manajemen risiko, dan peraturan perundang-undangan di bidang Pasar Modal serta peraturan perundang-undangan terkait lainnya.

2. Wajib memiliki paling kurang satu anggota yang berlatar belakang pendidikan dan keahlian di bidang akuntansi dan/atau keuangan.

3. Bukan merupakan orang dalam Kantor Akuntan Publik, Kantor Konsultan Hukum, Kantor Jasa Penilai Publik atau pihak lain yang memberi jasa assurance, jasa non-assurance, jasa penilai dan/atau jasa konsultasi lain kepada Perusahaan dalam waktu 6 (enam) bulan terakhir.

4. Bukan merupakan orang yang bekerja atau mempunyai wewenang dan tanggung jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan Perusahaan dalam waktu 6 (enam) bulan terakhir kecuali Komisaris Independen.

5. Tidak mempunyai saham langsung maupun tidak langsung pada Perusahaan. Dalam hal anggota Komite Audit memperoleh saham Perusahaan baik langsung maupun tidak langsung akibat suatu peristiwa hukum, maka saham tersebut wajib dialihkan kepada pihak lain dalam jangka waktu paling lama 6 (enam) bulan setelah diperolehnya saham tersebut.

AUDIT COMMITTEE

The Audit Committee is a supporting organ of the Board of Commissioners whose function is to assist the Board of Commissioners in carrying out their supervisory duties and functions, ensuring that the Company is managed with sound management consistently in accordance with GCG principles and assisting in providing advice in the implementation of the Company's internal controls and audits.

All members of the Audit Committee are appointed and dismissed by the Board of Commissioners and reported to shareholders. The Audit Committee was formed with reference to OJK Regulation No. 55/POJK.04/2015 concerning the Formation and Implementation of Audit Committee Work and in order to fulfill the principles of Good Corporate Governance and other regulations, we have an Audit Committee that carries out its functions properly.

QUALIFICATIONS TO BECOME A MEMBER OF THE AUDIT COMMITTEEMembers of the Company's Audit Committee must meet the following requirements:1. Must understand financial statements, the company's

business specifically related to the Company's services or business activities, the audit process, risk management, and legislation in the Capital Market and other relevant laws and regulations.

2. Must have at least one member with an educational background and expertise in accounting and/or finance.

3. Not a person in the Public Accountant Firm, Legal Consultant Office, Public Assessment Service Office or other parties providing assurance services, non-assurance services, assessment services and/or other consulting services to the Company within the last 6 (six) months.

4. Not a person who works or has the authority and responsibility to plan, lead, control, or supervise the activities of the Company within the last 6 (six) months except for Independent Commissioners.

5. Does not have direct or indirect shares in the Company. If a member of the Audit Committee acquires the Company's shares either directly or indirectly due to a legal event, the shares must be transferred to another party within a period of 6 (six) months after the acquisition of the shares.


6. Tidak mempunyai hubungan Afiliasi dengan anggota Dewan Komisaris, anggota Direksi, atau Pemegang Saham Utama Perusahaan.

7. Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Perusahaan.

MASA JABATANMasa kerja anggota komite Audit paling lama 3 (tiga) tahun, tetapi tidak lebih lama dari masa kerja Dewan komisaris yang sedang menjabat dengan tidak mengurangi hak Dewan komisaris untuk memberhentikan anggota komite Audit sewaktu-waktu. Anggota komite Audit yang berakhir masa jabatannya dapat diangkat kembali hanya untuk 1 (satu) kali masa jabatan berikutnya.

SUSUNAN DAN KOMPOSISI ANGGOTA KOMITE AUDIT TAHUN 2019Komposisi Anggota Komite Audit Perseroan tahun 2019 beranggotakan 3 (tiga) orang, terdiri dari 1 (satu) Ketua Komite yang juga merupakan Komisaris Independen Perseroan, dan 2 (dua) anggota yang merupakan pihak independen. Susunan Komite Audit secara kronologis di sepanjang tahun 2019 adalah sebagai berikut:

Susunan Komite Audit Perseroan 1 Januari - 31 Desember 2019Composition of the Company’s Audit Committee January 1 - December 31, 2019

NamaName

JabatanPosition




Anis Baridwan Ketua Komite Audit/Komisaris IndependenHead of Audit Committee/Independent Commissioner

Surat Keputusan Dewan Komisaris No. 001 Tahun 2019 Decree of the Board of Commissioners No. 001, 2019

2019-2022 Ke-1

Reynold M. Batubara

AnggotaMember

Surat Keputusan Dewan Komisaris No. 006 Tahun 2016Decree of the Board of Commissioners No. 006, 2016

2016-2019 Ke-2

Eddy Rachmadi AnggotaMember


2016-2019 Ke-2

Pradana Ramadhian G,*

Ketua Komite Audit/Komisaris IndependenHead of Audit Committee/Independent Commissioner


2016-2019 Ke-2

*Menjabat sebagai Ketua Komite Audit /Komisaris Independen sampai dengan RUPS Tahunan tanggal 11 April 2019*Served as Chair of the Audit Committee/Independent Commissioner until the Annual GMS on April 11, 2019

6. Has no affiliation with members of the Board of Commissioners, members of the Board of Directors, or Major Shareholders of the Company.

7. Does not have business relations, directly or indirectly, related to the Company's business activities.

TERM OF OFFICEThe term of service for members of the Audit committee is no more than 3 (three) years, but not longer than the term of office of the currently serving Board of Commissioners, without prejudice to the right of the Board of Commissioners to dismiss any Audit Committee members at any time. Audit committee members who end their terms of office may be reappointed only for 1 (one) subsequent term.

COMPOSITION OF AUDIT COMMITTEE MEMBERS IN 2019The Company's Audit Committee in 2019 consists of 3 (three) members, with one (1) acting as Committee Chair who is also an Independent Commissioner of the Company, and 2 (two) members who are independent parties. The chronological composition of the Audit Committee throughout 2019 is as follows:



PROFILE OF THE AUDIT COMMITTEEPROFIL KOMITE AUDIT

Anis BaridwanKetua Komite Audit/Komisaris IndependenHead of Audit Committee/Independent CommissionerProfil Ketua Komite Audit, Anis Baridwan, dapat dilihat bagian profil Dewan Komisaris pada bab Profil Perusahaan dalam Laporan Tahunan ini

The profile of the Audit Committee Head, Anis Baridwan, can be seen in the Board of Commissioners profile section in the Company Profile chapter in this Annual Report

Reynold M. BatubaraAnggotaMember

Periode Jabatan/Term of Office: 2016-2019, Periode Ke-2/2nd Period

Data PribadiWarga negara IndonesiaUsia 63 tahunKelahiran Palembang 04/06/1956

DomisiliTangerang Selatan, Provinsi Banten, Indonesia

PendidikanSarjana Ekonomi, Jurusan Akuntansi, Universitas Indonesia (1983)

Pengalaman KerjaMemiliki pengalaman panjang sebagai auditor di berbagai perusahaan terkemuka. Beliau pernah bergabung dengan Arthur Young International (1980-1987) sebagai Senior Auditor, lalu dengan Moret, Ernst & Young Netherland, Amsterdam (1987-1990) sebagai Senior Auditor, Audit Manager di Ernst & Young Iternational (1990-1993), Head of Internal Audit di Standard Chartered Bank (1993-1994), Country Head Group Audit di ABN AMRO Bank NV Indonesia (1994-2007) dan Komite Audit & Manajemen Risiko PT Maybank Syariah Indonesia (2008-2019). Beliau juga saat ini menduduki posisi sebagai Komisaris dan anggota Komite Audit di sejumlah perusahaan, seperti PT Smartfren Telecom Tbk (sejak Oktober 2009), PT Paramitra Alfa Sekuritas (sejak Desember 2009), PT Atlas Resources Tbk (sejak April 2012), PT Chandra Asri (sejak September 2015), PT Asuransi Etiqa International (sejak Oktober 2019) dan Bank NET Syariah (sejak Januari 2020). Selain itu, beliau juga diangkat sebagai anggota Komite Tatakelola Perusahaan Terpadu (Integrated Corporate Governance) di BNP Paribas (sejak Mei 2016).

Personal DataIndonesian citizen63 years oldBorn in Palembang 04/06/1956

DomicileSouth Tangerang, Banten Province, Indonesia

EducationBachelor of Economics, Department of Accounting, University of Indonesia (1983)

Work ExperienceHe has long experience as an auditor in various leading companies. He once joined Arthur Young International (1980-1987) as Senior Auditor, then with Moret, Ernst & Young Netherland, Amsterdam (1987-1990) as Senior Auditor, Audit Manager at Ernst & Young International (1990-1993), Head of Internal Audit at Standard Chartered Bank (1993-1994), Country Head Group Audit at ABN AMRO Bank NV Indonesia (1994-2007) and PT Maybank Syariah Indonesia's Risk Management & Audit Committee (2008-2019). He also currently holds positions as Commissioner and member of the Audit Committee in a number of companies, such as PT Smartfren Telecom Tbk (since October 2009), PT Paramitra Alfa Sekuritas (since December 2009), PT Atlas Resources Tbk (since April 2012), PT Chandra Asri (since September 2015) and PT Asuransi Etiqa International (since October 2019), and Bank Net Syariah (since January 2020). In addition, he was also appointed as a member of the Integrated Corporate Governance Committee at BNP Paribas (since May 2016).


Eddy RachmadiAnggotaMember


Data PribadiWarga negara IndonesiaUsia 62 tahunKelahiran Jakarta 26/07/1957

DomisiliJakarta Barat, Provinsi DKI Jakarta, Indonesia

PendidikanSarjana Ekonomi, Jurusan Manajemen, Universitas UPN Veteran Jakarta (1997)

Pengalaman KerjaBeliau saat ini menjabat sebagai Komite Audit di PT Penjaminan Jamkindo Syariah dan pernah menjabat sebagai Head Audit di Kresna G roup (2015). Sebelumnya beliau juga pernah menjabat sebagai Department Head Audit Distribution di PT Bank Mandiri (Persero) Tbk (2013).

Personal DataIndonesian citizens62 years oldBorn in Jakarta 07/26/1957

DomicileWest Jakarta, DKI Jakarta Province, Indonesia

EducationBachelor of Economics, Department of Management, UPN Veteran University Jakarta (1997)

Work ExperienceHe currently serves as the Audit Committee at PT Penjaminan Jamkindo Syariah and has served as Head of Audit at Kresna Group (2015). Previously, he also served as Department Head of Audit Distribution at PT Bank Mandiri (Persero) Tbk (2013).

INDEPENDENSI KOMITE AUDIT Seluruh anggota Komite Audit merupakan pihak independen dan eksternal yang dipilih sesuai dengan kemampuan dan latar belakang pendidikannya serta telah memenuhi syarat yang ditetapkan dalam Peraturan Otoritas Jasa Keuangan Nomor 55/POJK.04/2015 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit, antara lain tidak mempunyai hubungan afiliasi dengan Dewan Komisaris, Direksi dan pemegang saham pengendali Perseroan.

Per 31 Desember 2019Per December 31, 2019

Aspek IndependensiIndependence Aspect Anis Baridwan Reynold M.

Batubara Eddy Rachmadi

Bukan merupakan orang dalam Kantor Akuntan Publik, Kantor Konsultan Hukum, Kantor Jasa Penilai Publik atau pihak lain yang memberi jasa assurance, jasa non-assurance, jasa penilai dan/ atau jasa konsultasi lain kepada Perusahaan dalam waktu 6 (enam) bulan terakhir.Not an insider in the Public Accounting Firm, Legal Consultant Office, Public Appraisal Service Office or other party providing assurance services, non-assurance services, appraisal services and/or other consulting services to the Company within the last 6 (six) months.

v v v

Bukan merupakan orang yang bekerja atau mempunyai wewenang dan tanggung jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan Perusahaan dalam waktu 6 (enam) bulan terakhir kecuali Komisaris IndependenNot a person who works or has the authority and responsibility to plan, lead, control, or supervise the activities of the Company within the last 6 (six) months except for Independent Commissioners

v v v

Tidak mempunyai saham langsung maupun tidak langsung pada Perusahaan.Do not have direct or indirect shares in the Company

v v v

INDEPENDENCE OF THE AUDIT COMMITTEEAll members of the Audit Committee are independent and external parties selected in accordance with their abilities and educational background and have fulfilled the requirements stipulated in the Financial Services Authority Regulation No. 55/POJK.04/2015 concerning the Establishment and Guidelines for the Audit Committee's Work Implementation, which among others do not have affiliation relationship with the Board of Commissioners, Directors and controlling shareholders of the Company.




Aspek IndependensiIndependence Aspect Anis Baridwan Reynold M.

Batubara Eddy Rachmadi

Tidak mempunyai hubungan Afiliasi dengan anggota Dewan Komisaris, anggota Direksi, atauPemegang Saham Utama Perusahaan.Has no affiliation with members of the Board of Commissioners, members of the Board of Directors, or the Company's Major Shareholders.

v v v

Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Perusahaan.Does not have a business relationship, directly or indirectly, related to the Company's business activities.

v v v

v = ada | x = tidak ada v = observed | x = not observed

PEDOMAN KERJA: PIAGAM KOMITE AUDIT Agar Komite Audit dapat berperan secara efisien dan efektif, maka disusun Pedoman Kerja (Piagam) Komite Audit yang direviu secara berkala setiap tahunnya, dimana dimutakhirkan dan disahkan terakhir oleh Dewan Komisaris pada tanggal 22 Juli 2019 serta telah dipublikasikan di situs Perseroan.Pedoman Kerja (Piagam) tersebut mencakup struktur keanggotan, persyaratan keanggotaan termasuk persyaratan kompetensi dan independensi, tugas, tanggung jawab dan wewenang serta rapat dan pelaporan.

KODE ETIK KOMITE AUDITSetiap anggota Komite Audit berkomitmen memberikan kemampuan terbaiknya dan mematuhi kode etik Perusahaan yang berlaku, dengan mengutamakan integritas, independensi, objektivitas, kejujuran, dan komitmen terhadap prinsip-prinsip GCG.

TUGAS DAN TANGGUNG JAWAB KOMITE AUDITKomite Audit bertugas dan bertanggung jawab memberikan pendapat profesional dan independen membantu Dewan Komisaris dan menjalankan tugas serta tanggungjawabnya antara lain sebagai berikut:1. Melakukan penelaahan atas informasi keuangan yang akan

dikeluarkan Perseroan.2. Melakukan penelaahan atas ketaatan terhadap peraturan

perundang undangan.3. Memberikan pendapat independen kepada Dewan Komisaris

dalam hal terjadi perbedaan pendapat antara Manajemen dan Akuntan atas jasa yang diberikannya.

4. Memberikan rekomendasi kepada Dewan Komisaris mengenai penunjukan Akuntan yang didasarkan pada independensi, ruang lingkup penugasan, dan fee. Termasuk untuk menunjuk Akuntan pengganti bilamana karena sebab apapun juga berdasarkan ketentuan Pasar Modal di Indonesia apabila KAP yang ditunjuk tidak dapat melakukan tugasnya.

5. Melakukan penelaahan atas pemeriksaan yang dilaksanakan oleh auditor internal dan mengawasi tindak lanjutnya oleh Direksi atas temuan auditor internal.

6. Menelaah pengaduan yang berkaitan dengan proses akuntansi dan pelaporan keuangan Perseroan.

7. Menelaah dan memberikan saran kepada Dewan Komisaris terkait dengan adanya potensi benturan kepentingan Perusahaan.

WORK GUIDELINES: AUDIT COMMITTEE CHARTERIn order to the Audit Committee to play an efficient and effective role, the Audit Committee Work Guidelines (Charter) has been reviewed regularly every year, which was last updated and ratified by the Board of Commissioners on July 22, 2019 and has been published on the Company's website. Work Guidelines (Charter) includes membership structure, membership requirements including competency and independence requirements, duties, responsibilities and authority as well as meetings and reporting.

AUDIT COMMITTEE CODE OF ETHICSEach member of the Audit Committee is committed to giving its best capabilities and adhering to the applicable code of ethics of the Company, prioritizing integrity, independence, objectivity, honesty, and commitment to the principles of GCG.

DUTIES AND RESPONSIBILITIES OF AUDIT COMMITTEEThe Audit Committee has the duty and responsibility of providing professional and independent opinions to assist the Board of Commissioners and carry out their duties and responsibilities as follows:1. Reviewing the financial information that will be released

by the Company.2. Reviewing compliance with laws and regulations.

3. Providing an independent opinion to the Board of Commissioners in the event of disagreements between Management and the Accountant regarding the services provided.

4. Providing recommendations to the Board of Commissioners regarding the appointment of an Accountant based on independence, the scope of the assignment, and fees. This includes to appoint a replacement Accountant if for any reason also based on the provisions of the Capital Market in Indonesia if the appointed KAP cannot perform its duties.

5. Reviewing audits carried out by internal auditors and supervising their follow-up by the Directors on the findings of internal auditors.

6. Reviewing complaints relating to the Company's accounting and financial reporting processes.

7. Reviewing and providing advice to the Board of Commissioners related to the potential conflict of interests of the Company.


8. Menjaga kerahasiaan dokumen, data dan informasi Perseroan.

9. Melaksanakan tugas lain yang diberikan oleh Dewan Komisaris berdasarkan ketentuan peraturan perundang-undangan yang berlaku.

PEMBAGIAN TUGAS DAN TANGGUNG JAWAB DALAM KEANGGOTAAN KOMITE AUDIT Anggota Komite Audit terdiri dari 3 (tiga) orang yang berlatar belakang pendidikan akuntasi dan manajemen serta mempunyai pengalaman kerja yang beragam. Sifat pekerjaan Komite Audit adalah kolektif kolegial. Dengan demikian, pelaksanaan tugas Komite Audit dapat dilakukan secara bersama-sama sesuai dengan latar belakang pendidikan dan kompetensi yang dimiliki dari masing-masing anggota Komite Audit.

HUBUNGAN KERJA KOMITE AUDITHubungan kerja Komite Audit dengan Auditor Internal adalah sebagai berikut:1. Melakukan penelaahan atas pelaksanaan pemeriksaan oleh

auditor internal dan mengawasi pelaksanaan tindak lanjut oleh Direksi atas temuan Auditor Internal.

2. Mengawasi pelaksanaan tindak lanjut oleh Direksi atas temuan Auditor Internal.

3. Melakukan komunikasi secara langsung dengan pihak yang menjalankan fungsi audit internal.

4. Mengadakan rapat secara berkala dan insidentil dengan Auditor Internal.

Hubungan kerja Komite Audit dengan Auditor Eksternal sebagai berikut:1. Memberikan rekomendasi penunjukan Auditor Eksternal

kepada Dewan Komisaris2. Melakukan evaluasi pelaksanaan pemberian jasa audit

PENGEMBANGAN KOMPETENSI KOMITE AUDIT Perseroan memfasilitasi pelaksanaan program pengembangan bagi Komite Audit dalam rangka meningkatkan kompetensi anggota Komite Audit. Program ini diharapkan mampu memberikan dampak positif terhadap produktivitas dan efektivitas kinerja Komite Audit. Tentang kegiatan peningkatan kompetensi yang diikuti Anggota Komite Audit di sepanjang tahun 2018 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

RAPAT KOMITE AUDIT Peraturan Otoritas Jasa Keuangan No. 55/POJK.04/2015 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit pada pasal 13 dinyatakan bahwa Komite Audit melaksanakan rapat secara berkala paling sedikit satu kali dalam tiga bulan. Di tahun 2019, Komite Audit melakukan 9 (sembilan) kali rapat dengan agenda sebagaimana disampaikan dalam Laporan Singkat Tugas dan Kegiatan Komite Audit pada 2019.

8. Maintaining the confidentiality of the Company's documents, data and information.

9. Carrying out other tasks given by the Board of Commissioners based on the provisions of the applicable laws and regulations.

DISTRIBUTION OF DUTIES AND RESPONSIBILITIES IN MEMBERSHIP OF AUDIT COMMITTEEAudit Committee members consist of 3 (three) people with accounting and management education backgrounds and have diverse work experience. The nature of the work of the Audit Committee is the collegial collective. Thus, the implementation of the Audit Committee's tasks can be carried out jointly in accordance with the educational background and competencies possessed by each member of the Audit Committee.

AUDIT COMMITTEE WORK RELATIONSHIPThe working relationship of the Audit Committee with the Internal Auditor is as follows:1. Reviewing the implementation of audits by internal auditors

and overseeing the implementation of follow-up by the Directors on the findings of the Internal Auditor.

2. Overseeing the implementation of follow-up actions by the Directors on the findings of the Internal Auditor.

3. Communicating directly with those who carry out the internal audit function.

4. Holding regular and incidental meetings with the Internal Auditor.

The working relationship of the Audit Committee with the External Auditor is as follows:1. Providing recommendations for the appointment of External

Audit to the Board of Commissioners2. Evaluating the implementation of providing audit services

AUDIT COMMITTEE COMPETENCY DEVELOPMENTThe Company facilitates the implementation of development programs for the Audit Committee in order to improve the competence of members of the Audit Committee. This program is expected to have a positive impact on the productivity and effectiveness of the Audit Committee's performance. Concerning the competency improvement activities participated by Audit Committee Members throughout 2018, it can seen in the Company Profile chapter in this annual Report.

AUDIT COMMITTEE MEETINGFinancial Services Authority Regulation No. 55/POJK.04/2015 concerning the Formation and Guidelines for the Implementation of the Audit Committee's Work in article 13 states that the Audit Committee conducts meetings at least once every three months. In 2019, the Audit Committee conducted 9 (nine) meetings with the agenda as presented in the Brief Report on Implementation of Duties and Activities of Audit Committee in 2019.



Rekapitulasi Kehadiran Komite Audit pada Rapat Recapitulation of Audit Committee Attendance at the Meeting


Jumlah Wajib RapatAmount of Meeting Required

Jumlah KehadiranAmount of Meeting

Attended


Anis Baridwan (Ketua/Head) 6 5 83%Reynold M. Batubara (Anggota/Member) 9 8 89%Eddy Rachmadi (Anggota/Member) 9 8 89%Pradana Ramadhian *(Anggota/Member) 3 3 100%Rata-rataAvarage 90%

*Menjabat sebagai Ketua Komite Audit/Komisaris Independen sampai dengan RUPS Tahunan tanggal 11 April 2019.* Served as Chair of the Audit Committee/Independent Commissioner until the Annual GMS on April 11, 2019.

KEBIJAKAN REMUNERASIPenentuan jumlah remunerasi Komite Audit ditetapkan dengan mengacu pada Peraturan Menteri BUMN Nomor PER-12/MBU/2012 tentang Organ Pendukung Dewan Komisaris/Dewan Pengawas Badan Usaha Milik Negara.

PELAPORANPiagam Komite Audit mengatur bahwa Komite Audit wajib menyampaikan laporan berikut kepada Dewan Komisaris:1. Komite Audit wajib membuat laporan kepada Dewan

Komisaris atas setiap penugasan yang diberikan.2. Komite Audit wajib membuat laporan tahunan pelaksanaan

kegiatan Komite Audit yang diungkapkan dalam Laporan Tahunan Perusahaan.

LAPORAN SINGKAT PELAKSANAAN TUGAS DAN KEGIATAN KOMITE AUDIT PADA TAHUN 2019Untuk memenuhi ketentuan penerapan GCG di lingkup Perseroan, program kerja yang menjadi tugas dan kewajiban Komite Audit di tahun 2019 adalah:1. Melakukan penunjukan dan pengawasan terhadap pekerjaan

auditor independen.2. Menelaah dan membahas dengan auditor independen

terkait dengan kualitas dan akseptabilitas dari standar akuntansi keuangan yang diterapkan oleh Perseroan.

3. Menelaah rancangan Program Kerja Audit Tahunan (PKAT) Unit Internal Audit tahun 2019 yang disusun berdasarkan tingkat risiko perusahaan (risk based audit).

4. Menelaah dan membahas hasil temuan atau konsultasi internal termasuk rekomendasinya terhadap pelaksanaan PKAT dan melakukan monitoring tindak lanjutnya.

REKOMENDASI KOMITE AUDIT KEPADA DEWAN KOMISARIS

Beberapa rekomendasi yang diberikan oleh Komite Audit sepanjang tahun 2019 antara lain sebagai berikut:1. Tentang penunjukan Kantor Akuntan Publik dan/atau Akuntan

Publik dengan persyaratan minimal mempertimbangkan aspek independensi, ruang lingkup penugasan, imbalasan jasa audit dan keahlian serta pengalaman.

2. Tentang evaluasi pelaksanaan pemberian jasa audit tahun buku yang berakhir 31 Desember 2018.

REMUNERATION POLICYThe determination of the Audit Committee's remuneration is set by referring to SOE Ministerial Regulation No. PER-12/MBU/2012 concerning Supporting Organs of the Board of Commissioners/Supervisory Board of State-Owned Enterprises.

REPORTINGThe Audit Committee Charter stipulates that the Audit Committee must submit the following report to the Board of Commissioners:1. The Audit Committee must make a report to the Board of

Commissioners on each assignment given.2. The Audit Committee must prepare an annual report on

the activities of the Audit Committee that is disclosed in the Company's Annual Report.

BRIEF REPORT ON IMPLEMENTATION OF DUTIES AND ACTIVITIES OF AUDIT COMMITTEE IN 2019To meet the provisions of GCG implementation within the Company's scope, the work programs that become the duties and obligations of the Audit Committee in 2019 are:1. Appointing and Supervising the work of independent

auditors.2. Reviewing and discussing with independent auditors

regarding the quality and acceptability of financial accounting standards adopted by the Company.

3. Reviewing the draft Annual Audit Work Program (PKAT) for the Internal Audit Unit in 2019, which is prepared based on the level of risk based on the company (risk based audit).

4. Reviewing and discussing the findings or internal consultations including recommendations on the implementation of the PKAT and monitor the follow-up.

AUDIT COMMITTEE RECOMMENDATIONS TO BOARD OF COMMISSIONERSSome of the recommendations made by the Audit Committee throughout 2019 include the following:1. Regarding the appointment of a Public Accountant Firm and/

or Public Accountant with minimum requirements taking into account aspects of independence, the scope of the assignment, rewarding audit services and expertise and experience.

2. Regarding the evaluation of the implementation of audit services for the fiscal year ending December 31, 2018.


KOMITE NOMINASI DAN REMUNERASI

Komite Nominasi dan Remunerasi merupakan komite yang dibentuk dalam rangka membantu Dewan Komisaris dalam hal mengusulkan nominasi suksesi dan remunerasi Direksi. Komite Nominasi dan Remunerasi merupakan sub organ Dewan Komisaris yang memiliki tugas utama untuk membantu efektifnya fungsi pengawasan yang dijalankan oleh Dewan Komisaris terhadap tugas Direksi dalam mengelola Perseroan.

Perseroan memiliki Komite Nominasi dan Remunerasi yang membantu Dewan Komisaris dalam melaksanakan tugas pengawasan untuk fungsi nominasi dan remunerasi Dewan Komisaris dan Direksi. Komite ini berperan penting dalam penerapan prinsip-prinsip GCG dan juga transparansi proses serta kebijakan nominasi dan remunerasi. Hal ini sebagaimana diatur dalam Peraturan Otoritas Jasa Keuangan Nomor 34/POJK.04/2014 tentang Komite Nominasi dan Remunerasi Emiten atau Perusahaan Publik.

Persyaratan Umum Keanggotaan Komite Nominasi dan RemunerasiAnggota Komite Nominasi dan Remunerasi harus memahami kegiatan usaha Perusahaan dan Grup, memiliki pengetahuan yang memadai mengenai peraturan perundang-undangan pasar modal, operasional perusahaan, ketenagakerjaan serta hubungan industrial, dan mempunyai pengetahuan dan pengalaman yang memadai sesuai dengan latar belakang pendidikannya serta mampu berkomunikasi dengan baik.

MASA JABATANMasa kerja anggota komite Nominasi dan Remunerasi paling lama 3 (tiga) tahun, tetapi tidak lebih lama dari masa kerja Dewan komisaris yang sedang menjabat dengan tidak mengurangi hak Dewan komisaris untuk memberhentikan anggota komite Nominasi dan Remunerasi sewaktu-waktu. Anggota Komite Nominasi dan Remunerasi yang berakhir masa jabatannya dapat diangkat kembali hanya untuk 1 (satu) kali masa jabatan berikutnya.

SUSUNAN DAN KOMPOSISI ANGGOTA KOMITE NOMINASI DAN REMUNERASI TAHUN 2019Peraturan Otoritas Jasa Keuangan Nomor 34/POJK.04/2014 tentang Komite Nominasi dan Remunerasi Emiten atau Perusahaan Publik menetapkan bahwa anggota Komite Nominasi dan Remunerasi paling sedikit adalah tiga orang dan salah satunya adalah Komisaris Independen yang merangkap sebagai Ketua Komite Nominasi dan Remunerasi. Dua anggota lainnya dapat berasal dari anggota Dewan Komisaris, pihak dari luar Perseroan, maupun pihak manajemen di bawah Direksi.

Per 31 Desember 2019, komposisi dan susunan Komite Nominasi dan Remunerasi terdiri dari 1 (satu) orang ketua dan 2 (dua) orang anggota.

NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee is a committee formed to assist the Board of Commissioners in proposing the nomination of succession and remuneration for the Directors. The Nomination and Remuneration Committee is a sub-organ of the Board of Commissioners whose main task is to assist the effective oversight function carried out by the Board of Commissioners on the duties of the Board of Directors in managing the Company.

The Company has a Nomination and Remuneration Committee which assists the Board of Commissioners in carrying out supervisory duties for the nomination and remuneration functions of the Board of Commissioners and Directors. This committee has an important role in the implementation of GCG principles as well as the transparency of the nomination and remuneration process and policy. This is as regulated in the Financial Services Authority Regulation No. 34/POJK.04/2014 concerning the Nomination and Remuneration Committee of Issuers or Public Companies.

General Requirements for Nomination and Remuneration Committee MembershipMembers of the Nomination and Remuneration Committee must understand the business activities of the Company and the Group, have adequate knowledge of capital market regulations, company operations, labor and industrial relations, and have adequate knowledge and experience in accordance with their educational background and be able to communicate well.

TERM OF OFFICEThe term of office of the Nomination and Remuneration Committee member is a maximum of 3 (three) years, but no longer than the term of office of the currently serving Board of Commissioners without reducing the right of the Board of Commissioners to dismiss the members of the Nomination and Remuneration Committee at any time. The Nomination and Remuneration Committee member whose term of office expires may be reappointed only for 1 (one) subsequent term.

COMPOSITION OF 2019 NOMINATION AND REMUNERATION COMMITTEE MEMBERSFinancial Services Authority Regulation No. 34/POJK.04/2014 concerning the Nomination and Remuneration Committee of Issuers or Public Companies stipulates that the members of the Nomination and Remuneration Committee are at least three people and one of them is an Independent Commissioner who also serves as the Chair of the Nomination and Remuneration Committee. The other two members can come from members of the Board of Commissioners, parties from outside the Company, or management under the Board of Directors.

As of December 31, 2019, the composition and composition of the Nomination and Remuneration Committee consisted of 1 (one) chairman and 2 (two) members.



Susunan Komite Nominasi dan Remunerasi Perseroan per 31 Desember 2019Composition of the Company’s Nomination and Remuneration Committee as of December 31, 2019

NamaName

JabatanPosition



Position PeriodPosition Period

Lusiaga Levi Susila

Ketua/Komisaris IndependenHead/Independent Commissioner


2018-2021 Ke-11st

Eman Salman Arief

Anggota/KomisarisMember/Commissioners


2018-2021 Ke-11st

A.A.A. Indira Pratyaksa

AnggotaMember


2019-2022 Ke-11st

PROFIL KOMITE NOMINASI DAN REMUNERASI

Lusiaga Levi SusilaKetua Komite Nominasi & Remunerasi/Komisaris Independen

Periode Jabatan: 2018 - 2021, Periode Ke-1

Head of the Nomination and Remuneration Committee/Independent CommissionerPosition Period: 2018-2021, 1st Period

Profil Ketua Komite Nominasi & Remunerasi, Lusiaga Levi Susila telah disajikan sebagai Komisaris Independen pada profil Dewan Komisaris yang terdapat dalam buku Laporan Tahunan ini.

Profile of the Chairperson of the Nomination & Remuneration Committee, Lusiaga Levi Susila has been presented as an Independent Commissioner on the Board of Commissioners profile contained in this Annual Report.

Eman Salman AriefAnggotaPeriode Jabatan: 2018 - 2021, Periode Ke-1

MemberPosition Period: 2018 - 2021, 1st Period

Profil Anggota Komite Nominasi & Remunerasi, Eman Salman Arief telah disajikan sebagai Komisaris pada profil Dewan Komisaris yang terdapat dalam buku Laporan Tahunan ini.

Profile of the Member of the Nomination & Remuneration Committee, Eman Salman Arief, has been presented as a Commissioner on the Board of Commissioners profile contained in this Annual Report.

A.A.A. Indira PratyaksaAnggotaMember


Data PribadiWarga negara IndonesiaUsia 42 tahunKelahiran Jakarta 15/02/1977

DomisiliJakarta Selatan, Provinsi DKI Jakarta, Indonesia

PendidikanSarjana Psikologi, Jurusan Psikologi, Universitas Gadjah Mada (1995)Master Psikologi, Jurusan Psikologi, Universitas Gadjah Mada (2000)

Pengalaman KerjaBeliau saat ini menjabat sebagai VP Human Capital PT Elnusa Tbk. Sebelumnya beliau juga pernah menjabat sebagai Manager Manpower Planning (2017-2019),Manager Performance & Competency Management (2017) dan Senior Analyst Leadership Development PT Pertamina (Persero) (2015-2016).

Personal dataIndonesian citizens42 years oldBorn in Jakarta 15/02/1977

DomicileSouth Jakarta, DKI Jakarta Province, Indonesia

EducationBachelor of Psychology, Department of Psychology, Gadjah Mada University (1995)Master of Psychology, Department of Psychology, Gadjah Mada University (2000)

Work experienceShe currently serves as VP of Human Capital of PT Elnusa Tbk. Previously, she also served as Manager of Manpower Planning (2017-2019), Manager Performance & Competency Management (2017) and Senior Analyst Leadership Development PT Pertamina (Persero) (2015-2016).

PROFILE OF NOMINATION AND REMUNERATION COMMITTEE


INDEPENDENSI KOMITE NOMINASI DAN REMUNERASI

Komite Nominasi dan Remunerasi melaksanakan fungsi dan tugasnya secara profesional dan independen sesuai dengan peraturan dan perundang-undangan yang berlaku. Berikut disampaikan independensi dari Komite Nominasi & Remunerasi.


Aspek IndependensiIndependence Aspect

Lusiaga Levi Susila(Ketua/Komisaris)(Head/Komisaris)

Eman Salman Arief(Anggota)(Member)

AAA. Indira Pratyaksa (Anggota)(Member)

Tidak memilik hubungan kekeluargaan dengan Pemegang Saham, Dewan Komisaris, serta DireksiDoes not have a familial relationship with the Shareholders, the Board of Commissioners, and the Board of Directors

x x x

Tidak memilik hubungan usaha secara langsung dan tidak langsung kepada PerusahaanDoes not have a business relationship directly and indirectly to the Company

x x v

Bukan merupakan orang yang mempunyai wewenang dan tanggung jawab untuk merencanakan, memimpin atau mengendalikan kegiatan PerusahaanIs not a person who has the authority and responsibility to plan, lead or control the Company's activities

x x x

v = ada | x = tidak ada v = observed | x = not observed

PEDOMAN KERJA: PIAGAM KOMITENOMINASI DAN REMUNERASIAgar Komite Nominasi dan Remunerasi dapat berperan secara efisien dan efektif, maka disusun Pedoman Kerja (Piagam) Komite Nominasi dan Remunerasi yang direviu secara berkala setiap tahunnya, dimana dimutakhirkan dan disahkan terakhir oleh Dewan Komisaris pada tanggal 18 Desember 2017 serta telah dipublikasikan di situs Perseroan.Pedoman Kerja (Piagam) tersebut mencakup struktur keanggotan, persyaratan keanggotaan termasuk persyaratan kompetensi dan independensi, tugas, tanggung jawab dan wewenang serta rapat dan pelaporan. KODE ETIK KOMITE NOMINASI DAN REMUNERASI

Setiap anggota Komite Nominasi dan Remunerasi berkomitmen memberikan kemampuan terbaiknya dan mematuhi etik Perusahaan yang berlaku, dengan mengutamakan integritas, independensi, objektivitas, kejujuran, dan komitmen terhadap prinsip-prinsip GCG.

TUGAS, SERTA TANGGUNG JAWAB KOMITENOMINASI DAN REMUNERASIBerdasarkan Pedoman Komite Nominasi dan Remunerasi, dalam menjalankan fungsinya, Komite Nominasi dan Remunerasi memiliki tugas dan tanggung jawab antara lain sebagai berikut:

Terkait dengan fungsi Nominasi:1. Mengkaji dan mengevaluasi setiap kinerja anggota Direksi

dan Dewan Komisaris yang berkaitan antara lain dengan pencapaian aktual kinerja Perseroan, ketaatan terhadap peraturan perundang-undangan yang berlaku serta kebijakan Perseroan, pelaksanaan pengawasan dan pengelolaan Perusahaan, penerapan Good Corporate Governance dan pelaksanaan operasional perusahaan secara menyeluruh;

INDEPENDENCE OF NOMINATION ANDREMUNERATION COMMITTEEThe Nomination and Remuneration Committee carries out its functions and duties in a professional and independent manner in accordance with the applicable laws and regulations. Following is the independence of the Nomination & Remuneration Committee.

WORK GUIDELINES: NOMINATION ANDREMUNERATION COMMITTEE CHARTERIn order to the Nomination and Remuneration Committee to play an efficient and effective role, the Nomination and Remuneration Committee's Work Charter is regularly reviewed annually, which was last updated and ratified by the Board of Commissioners on December 18, 2017 and it has been published on the Company's website. The Work Guidelines (Charter) cover membership structure, membership requirements including competency and independence requirements, duties, responsibilities and authority as well as meetings and reporting.

CODE OF ETHICS OF NOMINATION ANDREMUNERATION COMMITTEEEach member of the Nomination and Remuneration Committee is committed to giving its best capabilities and adhering to the applicable code of ethics the Company, prioritizing integrity, independence, objectivity, honesty, and commitment to the principles of GCG.

DUTIES AND RESPONSIBILITIES OF NOMINATION AND REMUNERATION COMMITTEEBased on the Nomination and Remuneration Committee Guidelines, in carrying out its functions, the Nomination and Remuneration Committee has the following duties and responsibilities:

Related to the Nomination function:1. Review and evaluate the performance of members of the

Board of Directors and the Board of Commissioners relating to, among others, the actual achievement of the Company's performance, adherence to applicable laws and regulations, Company policies, implementation of supervision and management of the Company, implementation of Good Corporate Governance and overall implementation of company operations;



2. Memberikan usulan calon yang memenuhi syarat sebagai anggota Direksi dan Dewan Komisaris;

3. Melaksanakan tugas-tugas lainnya yang berhubungan dengan nominasi yang diberikan oleh Dewan Komisaris.

Terkait dengan fungsi Remunerasi:1. Mengkaji dan mengevaluasi pelaksanaan setiap kinerja

anggota Direksi dan Dewan Komisaris dengan kesesuaian Remunerasi yang diterima masing-masing Anggota Direksi dan Dewan Komisaris.

2. Melaksanakan tugas-tugas lainnya yang berhubungan dengan remunerasi yang diberikan oleh Dewan Komisaris.

PEMBAGIAN TUGAS DAN TANGGUNG JAWAB DALAM KEANGGOTAAN KOMITE NOMINASI DAN REMUNERASISesuai dengan Piagam Komite Nominasi dan Remunerasi, tidak ada pembagian tugas antar anggota komite, seluruh anggota komite bekerja secara kolektif kolegial dengan independen dan profesional, untuk membantu Dewan komisaris melaksanakan fungsi pengawasan, pemberian nasihat serta memastikan telah dilaksanakannya proses nominasi, remunerasi serta pengembangan SDM.

PENGEMBANGAN KOMPETENSI KOMITENOMINASI DAN REMUNERASIPerseroan mengikutsertakan Komite Nominasi dan Remunerasi dalam kegiatan pengembangan kompetensi sebagai bentuk program untuk menambah wawasan dan pengetahuan. Tentang daftar kegiatan pelatihan dan peningkatan kompetensi yang diikuti Komite Nominasi dan Remunerasi di sepanjang tahun 2019 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

RAPAT KOMITE NOMINASI DAN REMUNERASI

Ketentuan mengenai rapat Komite tercantum dalam Pedoman Kerja (Piagam) Komite Nominasi dan Remunerasi, dimana Komite melakukan rapat secara berkala sekurang-kurangnya tiga kali dalam setahun atau sesuai kebutuhan. Di tahun 2019, Komite Nominasi dan Remunerasi menyelenggarakan rapat sebanyak 3 (tiga) kali dengan agenda sebagaimana disampaikan dalam Laporan Singkat Pelaksanaan Tugas dan Kegiatan Komite Nominasi dan Remunerasi pada 2019.

Rekapitulasi Kehadiran Komite Nominasi dan Remunerasi pada RapatRecapitulation of the Nomination and Remuneration Committee Attendance at the Meeting

Komite Nominasi dan RemunerasiNomination and Remuneration Committee

Jumlah Wajib RapatAmount of Meeting

Required


Attended

Persentase Kehadiran% Attendance

Lusiaga Levi Susila 3 3 100%Eman Salman Arief 3 3 100%Muhammad Fahmi El Mubarak* 2 2 100%Rata-rata | Average 100%

*Menjabat sebagai Anggota Komite Nominasi dan Remunerasi sampai dengan April 2019

* Served as Member of the Nomination and Remuneration Committee until April 2019

2. Provide proposals for candidates who qualify as members of the Board of Directors and Board of Commissioners;

3. Carry out other tasks related to the nominations given by the Board of Commissioners.

Related to the Remuneration function:1. Review and evaluate the performance of each member of

the Board of Directors and the Board of Commissioners with the remuneration received by each Member of the Board of Directors and the Board of Commissioners.

2. Carry out other tasks related to remuneration given by the Board of Commissioners.

DIVISION OF DUTIES AND RESPONSIBILITIES OF MEMBERSHIP OF NOMINATION AND REMUNERATION COMMITTEEIn accordance with the Nomination and Remuneration Committee Charter, there is no division of duties between committee members, all committee members work collectively collegially with independently and professionally, to help the Board of Commissioners carry out the supervisory function, provide advice and ensure that the nomination, remuneration and HR development process has been carried out.

COMPETENCY DEVELOPMENT OF THE NOMINATION AND REMUNERATION COMMITTEEThe Company includes the Nomination and Remuneration Committee in competency development activities as a form of program to add insight and knowledge. Concerning the list of training and competency enhancement activities that the Nomination and Remuneration Committee participated in throughout 2019 can be seen in the Company Profile chapter in this annual report.

MEETING OF THE NOMINATION ANDREMUNERATION COMMITTEEProvisions regarding Committee meetings are listed in the Work Guidelines (Charter) of the Nomination and Remuneration Committee, which the Committee meets regularly at least three times a year or as necessary. In 2019, the Nomination and Remuneration Committee held 3 (three) meetings with the agenda as stated in the Brief Report on the Implementation of Duties and Activities of Nomination and Remuneration Committee in 2019.


KEBIJAKAN REMUNERASIPenentuan jumlah remunerasi Komite Nominasi dan Remunerasi ditetapkan dengan mengacu pada Peraturan Menteri BUMN Nomor PER-12/MBU/2012 tentang Organ Pendukung Dewan Komisaris/Dewan Pengawas Badan Usaha Milik Negara.

PELAPORANPiagam Komite Nominasi dan Remunerasi mengatur bahwa Komite Audit wajib menyampaikan laporan berikut kepada Dewan Komisaris:1. Komite menyampaikan laporan pelaksanaan tugas, tanggung

jawab dan prosedur kepada Dewan Komisaris secara berkala sekurang-kurangnya 1 (satu) kali dalam setahun atau atas permintaan Dewan Komisaris.

2. Laporan Komite tersebut merupakan bagian dari laporan pelaksanaan tugas Dewan Komisaris dan disampaikan dalam Rapat Umum Pemegang Saham.

Laporan Singkat Pelaksanaan Tugas dan Kegiatan Komite Nominasi dan Remunerasi pada 20191. Pengawasan dan Pemberian Saran/Nasihat di bidang

nominasi di antaranya dilakukan dengan cara melakukan kajian untuk merumuskan saran dan masukan kepada Dewan Komisaris terkait usulan nominasi calon Direksi Perseroan. Saran dan masukan tersebut menjadi bahan masukan Dewan Komisaris dalam menjalankan fungsi pengawasan dan pemberian nasihat di bidang nominasi.

2. Melakukan review atas kebijakan remunerasi bagi pengurus Perseroan melalui benchmarking dan berdasarkan kinerja yang dicapai. Selanjutnya merumuskan usulan penyesuaian remunerasi pengurus Perseroan kepada Dewan Komisaris.

REKOMENDASI KOMITE NOMINASI DAN REMUNERASI KEPADA DEWAN KOMISARISSesuai dengan Piagam Komite Nominasi dan Remunerasi, salah satu tugas Komite Nominasi dan Remunerasi adalah memberikan masukan kepada Dewan Komisaris sebagai bahan dalam penyusunan rekomendasi. Untuk itu pada tahun 2019, rekomendasi yang diberikan Komite Nominasi dan Remunerasi antara lain rekomendasi atas nominasi pengurus Perusahaan dan remunerasi tahun buku 2019 bagi Dewan Komisaris dan Direksi Perusahaan.

KEBIJAKAN SUKSESI DIREKSIGuna mempersiapkan regenerasi kepemimpinan di masa yang akan datang, Komite Nominasi dan Remunerasi telah memiliki Kebijakan Suksesi Direksi sebagaimana tercantum dalam Piagam Komite Nominasi dan Remunerasi tanggal 18 Desember 2017 yang memuat antara lain:

REMUNERATION POLICYThe determination of the Nomination and Remuneration Committee's remuneration is set by referring to SOE Ministerial Regulation No. PER-12/MBU/2012 concerning Supporting Organs of the Board of Commissioners/Supervisory Board of State-Owned Enterprises.

REPORTINGThe Nomination and Remuneration Committee Charter stipulates that the Audit Committee must submit the following report to the Board of Commissioners:1. The Committee submits a report on the implementation of

its duties, responsibilities and procedures to the Board of Commissioners periodically at least 1 (one) time a year or at the request of the Board of Commissioners.

2. The Committee's report is part of the Board of Commissioners' implementation task report and submitted at the General Meeting of Shareholders.

Brief Report on the Implementation of the Nomination and Remuneration Committee's Tasks and Activities in 20191. Supervision and Giving Suggestion/Advice in the field

of nomination include conducting a study to formulate suggestions and input to the Board of Commissioners regarding the nomination of candidates for the Company's Directors. These suggestions and input are input for the Board of Commissioners in carrying out their supervisory and advisory functions in the nomination field.

2. Reviewing the remuneration policy for the Company's management through benchmarking and based on the performance achieved. Then formulating the proposed adjustments to the remuneration of the Company's management to the Board of Commissioners.

RECOMMENDATION FROM THE NOMINATION AND REMUNERATION COMMITTEE TO THE BOARD OF COMMISSIONERSIn accordance with the Nomination and Remuneration Committee Charter, one of the duties of the Nomination and Remuneration Committee is to provide input to the Board of Commissioners as material in making recommendations. Therefore, in 2019, the recommendations given by the Nomination and Remuneration Committee include recommendations for the nomination of the Company's management and remuneration for the 2019 fiscal year for the Board of Commissioners and Board of Directors of the Company.

DIRECTORS SUCCESSION POLICYTo prepare for the regeneration of leadership in the future, the Nomination and Remuneration Committee has a Board of Directors Succession Policy as stated in the Nomination and Remuneration Committee Charter dated December 18, 2017 which includes:



FasePhase

OtorisasiAuthorization

AktivitasActivity

I Komite Nominasi dan RemunerasiNomination and Remuneration Committee

Menyiapkan dan memberikan rekomendasi proposal kandidat Calon Anggota Direksi berdasarkan pemenuhan persyaratan serta evaluasi.Preparing and providing recommendations for candidates for candidates for members of the Board of Directors based on fulfilment of the requirements and evaluation.

II Dewan KomisarisBoard of Commissioners

• Melakukan evaluasi proposal kandidat Calon Anggota Direksi, termasuk Dewan Komisaris dapat melakukan wawancara terhadap calon yang disampaikan dalam proposal tersebut.

• Mengambil keputusan atas kandidat Calon Anggota Direksi.• Menyampaikan keputusan tersebut kepada Pemegang Saham Utama sebagai Usulan Pengangkatan

Calon Anggota Direksi.• Evaluating candidate proposals for members of the Board of Directors, including the Board of

Commissioners. They can interview candidates submitted in the proposal.• Making decisions on candidates for members of the Board of Directors.• Submitting the decision to the Main Shareholders as Proposed Appointment of Prospective

Members of the Board of Directors.III Rapat Umum Pemegang Saham

General Meeting of ShareholdersPenunjukan dan Pengangkatan Anggota DireksiAppointment of Members of the Board of Directors

KOMITE MANAJEMEN RISIKO

Komite Manajemen Risiko dibentuk untuk membantu tugas Dewan Komisaris dalam upaya melakukan identifikasi, pemetaan, analisis dan mitigasi risiko pada Perseroan yang ditujukan untuk mencegah dan meminimalisasi risiko. Selain itu, Komite Manajemen Risiko membuat laporan secara tertulis atas setiap penugasan yang diberikan oleh Dewan Komisaris.

PERSYARATAN UMUM KEANGGOTAANKOMITE MANAJEMEN RISIKOAnggota Komite Manajemen Risiko antara lain memiliki pengetahuan mengenai industri/bisnis Perusahaan, Anggaran Dasar Perusahaan, peraturan perundang-undangan yang berkaitan dengan operasi Perusahaan, peraturan Pasar Modal dan peraturan lainnya terkait dengan Manajemen Risiko.

MASA JABATANMasa jabatan anggota Komite Manajemen Risiko paling lama 3 (tiga) tahun dan dapat diangkat kembali hanya untuk 1 (satu) periode berikutnya.

SUSUNAN DAN KOMPOSISI ANGGOTAKOMITE MANAJEMEN RISIKO TAHUN 2019Sesuai Pedoman Kerja (Piagam) Komite Manajemen Risiko, anggota Komite Manajemen Risiko paling sedikit terdiri dari tiga orang anggota, dimana Ketua Komite merupakan anggota Dewan Komisaris dan anggota lainnya dapat berasal dari anggota Dewan Komisaris maupun Pihak dari luar Perseroan. Komite Manajemen Risiko diangkat dan diberhentikan oleh Dewan Komisaris

Susunan Komite Manajemen Risiko Perseroan per 31 Desember 2019Composition of Risk Management Committee of December 31, 2019

NamaName

JabatanPosition




Antonius Ratdomopurbo

Ketua/KomisarisHead/Commissioner

Surat Keputusan Dewan Komisaris No. 003 Tahun 2019 Decree of the Board of Commissioners No. 003 of 2019

2019-2022 Ke-11st

Lusiaga Levi Susila Anggota/Komisaris IndependenMember/Independent Commissioner

Surat Keputusan Dewan Komisaris No.002 Tahun 2018 Decree of the Board of Commissioners No. 002 of 2018

2018-2021 Ke-11st

RISK MANAGEMENT COMMITTEE

The Risk Management Committee was formed to assist the Board of Commissioners' duties in the effort of identifying, mapping, analyzing and mitigating risks to the Company aimed at preventing and minimizing risk. In addition, the Risk Management Committee makes a written report on each assignment given by the Board of Commissioners.

GENERAL REQUIREMENTS FOR RISK MANAGEMENT COMMITTEE MEMBERSHIPMembers of the Risk Management Committee are required to have knowledge of the Company's industry/business, the Company's Articles of Association, laws and regulations relating to the Company's operations, Capital Market regulations and other regulations related to Risk Management.

TERM OF OFFICEThe term of office of the Risk Management Committee members is no more than 3 (three) years and can be reappointed only for the 1 (one) subsequent period.

COMPOSITION OF RISK MANAGEMENTCOMMITTEE MEMBERS IN 2019In accordance with the Work Guidelines (Charter) of the Risk Management Committee, members of the Risk Management Committee consist of at least three members, the Head of the Committee is a member of the Board of Commissioners and other members may come from the Board of Commissioners or from outside the Company. The Risk Management Committee is appointed and dismissed by the Board of Commissioners.


Susunan Komite Manajemen Risiko Perseroan per 31 Desember 2019Composition of Risk Management Committee of December 31, 2019

NamaName

JabatanPosition




Adil Nusyirwan AnggotaMember


2019-2022 Ke-22nd

Serena Karlita Ferdinandus

AnggotaMember


2018-2021 Ke-22nd

PROFIL KOMITE MANAJEMEN RISIKO

Antonius RatdomopurboKetua Komite Manajemen Risiko/KomisarisPeriode Jabatan: 2019-2022, Periode Ke-1

Head of the Risk Management Committee/CommissionerPosition Period: 2019-2022, 1st Period

Profil Ketua Komite Manajemen Risiko, Antonius Ratdomopurbo telah disajikan sebagai Komisaris pada profil Dewan Komisaris yang terdapat dalam buku Laporan Tahunan ini.

The profile of the Chairman of the Risk Management Committee, Antonius Ratdomopurbo, has been presented as a Commissioner in the Board of Commissioners profile contained in this Annual Report.

Lusiaga Levi SusilaAnggota Komite Manajemen Risiko/Komisaris Independen

Periode Jabatan: 2018-2021, Periode Ke-1

Member of the Risk Management Committee/Independent CommissionerPosition Period: 2018-2021, 1st Period

Profil Anggota Komite Manajemen Risiko, Lusiaga Levi Susila telah disajikan sebagai Komisaris Independen pada profil Dewan Komisaris yang terdapat dalam buku Laporan Tahunan ini.

Profile of Risk Management Committee Member, Lusiaga Levi Susila has been presented as an Independent Commissioner on the Board of Commissioners profile contained in this Annual Report.

Adil NusyirwanAnggotaMember


Data PribadiWarga negara IndonesiaUsia 62 tahunKelahiran Jakarta, 31/01/1957

DomisiliJakarta Selatan, Provinsi DKI Jakarta, Indonesia

PendidikanSarjana Akuntansi, Jurusan Akuntansi, Universitas Sumatera Utara (1982)

Master Akuntansi, University of Illinois at Urbana Champaign, Amerika Serikat (1994)

Pengalaman KerjaMengawali karir di PT Perkebunan VIII dan bergabung dengan Pertamina sejak 1987 dengan menduduki berbagai macam posisi jabatan antara lain Direktur Keuangan & Administrasi di PT Elnusa Harapan (2003-2005) dan di PT Patra Niaga (2005-2009) serta sebagai Direktur Keuangan di PT Patra Jasa (2009-2013).

Personal DataIndonesian citizen62 years oldBorn in Jakarta, 31/01/1957

DomicileSouth Jakarta, DKI Jakarta Province, Indonesia

EducationBachelor of Accounting, Department of Accounting, University of North Sumatera (1982)Master of Accounting, University of Illinois at Urbana Champaign, USA(1994)

Work experienceHe began his career at PT Perkebunan VIII and joined Pertamina since 1987 by holding various positions including Director of Finance & Administration at PT Elnusa Harapan (2003-2005) and at PT Patra Niaga (2005-2009) and as Finance Director at PT Patra Jasa (2009-2013).

PROFILE OF THE RISK MANAGEMENT COMMITTEE



Serena Karlita FerdinandusAnggotaMember

Periode Jabatan/Term of Office: 2018 - 2021, Periode Ke-2/2nd Period

Data PribadiWarga negara IndonesiaUsia 59 tahunKelahiran Surabaya, 29/02/1960

DomisiliTangerang Selatan, Provinsi Banten, Indonesia

PendidikanSarjana Akuntansi, Jurusan Akuntansi, Universitas Indonesia (1986)

Pengalaman KerjaBeliau saat ini menduduki beberapa posisi jabatan antara lain Anggota Komite Audit PT Blue Bird Tbk, Komisaris Independen dan Ketua Komite Audit PT CIMB Niaga Auto Finance (2012-sekarang), Komisaris PT Anpa International (2012-2018) dan Chief Audit Executive PT Ithaca Resources. Sebelumnya beliau pernah menduduki posisi sebagai Anggota Komite Audit PT Chandra Asri Petrochemical Tbk (2009-2015) dan PT Barito Pacific Tbk (2009-2013), Senior Vice President of Investment Banking Division PT NC Securities (2002-2009), Vice President of Investment Banking Division PT Danareksa Persero, Vice President of Direct Investment Division PT Danareksa Finance (1996-2001) dan pernah menjabat sebagai Manager of Audit Division Ernst & Young Indonesia (1986).

Personal dataIndonesian citizen59 years oldBorn in Surabaya, 29/02/1960

DomicileTangerang Selatan, Banten Province, Indonesia

EducationBachelor of Accounting, Department of Accounting, University of Indonesia (1986)

Work experienceShe currently holds several positions including PT Blue Bird Tbk's Audit Committee Member, Independent Commissioner and Chairman of the PT CIMB Niaga Auto Finance Audit Committee (2012-present), Commissioner of PT Anpa International (2012-2018) and Chief Audit Executive of PT Ithaca Resources . Previously he held positions as Audit Committee Member of PT Chandra Asri Petrochemical Tbk (2009-2015) and PT Barito Pacific Tbk (2009-2013), Senior Vice President of Investment Banking Division of PT NC Securities (2002-2009), Vice President of Investment Banking Division of PT Danareksa Persero, Vice President of Direct Investment Division of PT Danareksa Finance (1996-2001) and has served as Manager of Audit Division of Ernst & Young Indonesia (1986).

INDEPENDENSI KOMITE MANAJEMEN RISIKOKomite Manajemen Risiko diketuai oleh seorang Komisaris, dengan anggota terdiri dari 1 (satu) anggota Komisaris Independen dan anggota lainnya yang memenuhi syarat profesionalitas dan berasal dari luar Perseroan. Komite Manajemen Risiko menjalankan tugas dan tanggung jawabnya secara profesional dan independen

PEDOMAN KERJA: PIAGAM KOMITE MANAJEMEN RISIKO

Agar Komite Manajemen Risiko dapat berperan secara efisien dan efektif, maka disusun Pedoman Kerja (Piagam) Komite Manajemen Risiko yang telah dipublikasikan di situs Perseroan. Piagam Komite direviu secara berkala setiap tahunnya dan reviu terakhir dilakukan pada bulan Desember 2019. Pedoman Kerja (Piagam) tersebut mencakup struktur keanggotan, persyaratan keanggotaan termasuk persyaratan kompetensi dan independensi, tugas, tanggung jawab dan wewenang serta rapat dan pelaporan.

KODE ETIK KOMITE MANAJEMEN RISIKOAnggota Komite Manajemen Risiko berkomitmen memberikan kemampuan terbaiknya dan mematuhi kode etik Perusahaan yang berlaku dengan mengutamakan integritas, independensi, objektivitas, kejujuran, dan komitmen terhadap GCG

INDEPENDENCE OF RISK MANAGEMENT COMMITTEEThe Risk Management Committee is chaired by a Commissioner, with members consisting of 1 (one) Independent Commissioner member and other members who meet professional requirements and come from outside the Company. The Risk Management Committee carries out its duties and responsibilities professionally and independently.

WORK GUIDELINES: RISK MANAGEMENT COMMITTEE CHARTERIn order to the Risk Management Committee to play an efficient and effective role, a Risk Management Committee Charter has been prepared which has been published on the Company's website. The Committee Charter is regularly reviewed annually and the latest review was conducted in December 2019. The Work Guidelines (Charter) includes membership structure, membership requirements including competency and independence requirements, duties, responsibilities and authority as well as meetings and reporting.

RISK MANAGEMENT COMMITTEE CODE OF ETHICSMembers of the Risk Management Committee are committed to providing their best abilities and complying with the Company's applicable code of ethics by prioritizing integrity, independence, objectivity, honesty, and commitment to GCG.


TUGAS DAN TANGGUNG JAWAB KOMITE MANAJEMEN RISIKOTugas dan tanggung jawab Komite Manajemen Risiko berpedoman pada Pedoman Kerja (Piagam) Komite Manajemen Risiko di antaranya adalah:1. Melakukan evaluasi kebijakan dan strategi manajemen risiko

baik operasional dan pengembangan usaha Perseroan.2. Memantau dan melakukan evaluasi penerapan manajemen

risiko dan mitigasinya atas rencana bisnis dan investasi Perseroan serta pelaksanaan operasional ditinjau dari sisi keuangan dan legal.

3. Melaporkan hasil pemantauan dan evaluasi serta memberikan rekomendasi atas hal-hal yang perlu mendapat perhatian Dewan Komisaris.

4. Melakukan review atas permohonan persetujuan Direksi kepada Dewan Komisaris antara lain atas rencana investasi, RKAP, RJPP, pembentukan Anak Perusahaan dan aksi korporasi lainnya.

PEMBAGIAN TUGAS DAN TANGGUNG JAWAB DALAM KEANGGOTAAN KOMITE MANAJEMEN RISIKOAnggota Komite Manajemen Risiko terdiri dari 4 (empat) orang yang berlatar belakang pendidikan akuntasi maupun teknik serta mempunya pengalaman kerja yang beragam. Sifat pekerjaan Komite Manajemen Risiko adalah kolektif kolegial. Dengan demikian, pelaksanaan tugas Komite Manajemen Risiko dapat dilakukan secara bersama-sama sesuai dengan latar belakang pendidikan dan kompetensi yang dimiliki dari masing-masing anggota Komite Manajemen Risiko.

PENGEMBANGAN KOMPETENSI KOMITEMANAJEMEN RISIKOPerseroan mengikutsertakan Komite Manajemen Risiko dalam kegiatan pengembangan kompetensi sebagai bentuk program untuk menambah wawasan dan pengetahuan. Tentang daftar kegiatan pelatihan dan peningkatan kompetensi yang diikuti Komite Manajemen Risiko di sepanjang tahun 2019 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

RAPAT KOMITE MANAJEMEN RISIKODi tahun 2019, Komite Manajemen Risiko menyelenggarakan rapat sebanyak 6 (enam) kali dengan agenda sebagaimana disampaikan dalam Laporan Singkat Pelaksanaan Tugas dan Kegiatan Komite Manajemen Risiko pada 2019.

Rekapitulasi Kehadiran Komite Manajemen Risiko pada RapatRecapitulation of the Presence of the Risk Management Committee at the Meeting


Jumlah Wajib RapatAmount of Meeting

Required


Attended

Persentase Kehadiran% Attendance

Antonius Ratdomopurbo 6 6 100%Lusiaga Levi Susila 6 5 83%Adil Nusyirwan 6 6 100%Serena Karlita Ferdinandus 6 5 83%Rata-rata | Average 92%

DUTIES AND RESPONSIBILITIES OF THE RISK MANAGEMENT COMMITTEEThe duties and responsibilities of the Risk Management Committee are guided by the Risk Management Committee's Work Charter (Charter) including:1. Evaluate risk management policies and strategies both

operational and business development of the Company.2. Monitor and evaluate the application of risk management

and mitigation of the Company's business and investment plans and operational implementation in terms of financial and legal aspects.

3. Report the results of monitoring and evaluation and provide recommendations on matters that need the attention of the Board of Commissioners.

4. Review the requests for the Board of Directors' approval to the Board of Commissioners including investment plans, RKAP, RJPP, formation of subsidiaries and other corporate actions.

DISTRIBUTION OF DUTIES AND RESPONSIBILITIES IN MEMBERSHIP OF THE RISK MANAGEMENT COMMITTEERisk Management Committee members consist of 4 (four) people with a background in accounting and technical education and have diverse work experience. The nature of the work of the Risk Management Committee is a collegial collective. Thus, the implementation of the Risk Management Committee's tasks can be carried out jointly in accordance with the educational background and competencies of each member of the Risk Management Committee.

COMPETENCE DEVELOPMENT OF THE RISK MANAGEMENT COMMITTEEThe Company engages the Risk Management Committee in competency development activities as a form of program to add insight and knowledge. Concerning the list of training and competency enhancement activities undertaken by the Risk Management Committee throughout 2019, see the Company Profile chapter in this annual report

RISK MANAGEMENT COMMITTEE MEETINGIn 2019, the Risk Management Committee held 6 (six) with the agenda as stated in the Brief Report on the Implementation of Duties and Activities of the Risk Management Committee in 2019.



KEBIJAKAN REMUNERASIPenentuan jumlah remunerasi Komite Manajemen Risiko ditetapkan dengan mengacu pada Peraturan Menteri BUMN Nomor PER-12/MBU/2012 tentang Organ Pendukung Dewan Komisaris/Dewan Pengawas Badan Usaha Milik Negara.

PELAPORANPiagam Komite Manajemen Risiko mengatur bahwa Komite Audit wajib menyampaikan laporan berikut kepada Dewan Komisaris:1. Komite menyampaikan laporan atas aktifitas Komite kepada

Dewan Komisaris secara berkala sekurang-kurangnya 1 (satu) kali dalam setahun atau atas permintaan Dewan Komisaris melaporkan hasil kerjanya kepada Dewan Komisaris.

2. Laporan Komite tersebut merupakan bagian dari laporan pelaksanaan tugas Dewan Komisaris dan disampaikan dalam Rapat Umum Pemegang Saham.

LAPORAN SINGKAT PELAKSANAAN TUGAS DANKEGIATAN KOMITE MANAJEMEN RISIKO PADA 20191. Melakukan review atas kebijakan dan sistem manajemen

risiko yang diterapkan di Perseroan. 2. Menyampaikan rekomendasi berkaitan dengan aspek

manajemen risiko kepada Dewan Komisaris atas kebijakan yang telah diterapkan dan akan diambil oleh Direksi.

3. Melakukan monitoring dan review terhadap usulan investasi, subsidiary governance, batasan kewenangan maupun kinerja bulanan dan selanjutnya memberikan masukan kepada Dewan Komisaris sebagai bahan dalam penyusunan rekomendasi kepada Direksi.

4. Melakukan review RKAP Perseroan Tahun 2020 maupun terhadap draft rolling RJPP.

5. Melaksanakan tugas dan tanggung jawab lain yang diberikan oleh Dewan Komisaris dari waktu ke waktu.

REKOMENDASI KOMITE MANAJEMEN RISIKOKEPADA DEWAN KOMISARISPada tahun 2019, rekomendasi yang diberikan Komite Manajemen Risiko sebagaimana disampaikan dalam Laporan Singkat Pelaksanaan Tugas dan Kegiatan Komite Manajemen Risiko pada 2019.

REMUNERATION POLICYThe determination of the Risk Management Committee's remuneration is set by referring to SOE Ministerial Regulation No. PER-12/MBU/2012 concerning Supporting Organs of the Board of Commissioners/Supervisory Board of State-Owned Enterprises.

REPORTINGThe Risk Management Committee Charter stipulates that the Audit Committee must submit the following report to the Board of Commissioners:1. The Committee submits reports on the activities of the

Committee to the Board of Commissioners periodically at least 1 (one) time a year or at the request of the Board of Commissioners to report their work to the Board of Commissioners.

2. The Committee's report is part of the Board of Commissioners' implementation task report and submitted at the General Meeting of Shareholders.

BRIEF REPORT ON THE IMPLEMENTATION OF DUTIES AND ACTIVITIES OF THE RISK MANAGEMENT COMMITTEE IN 20191. Reviewing policies and risk management systems implemented

in the Company.2. Delivering recommendations relating to aspects of risk

management to the Board of Commissioners of the policies that have been implemented and will be taken by the Directors.

3. Monitoring and Reviewing investment proposals, subsidiary governance, authority limits and monthly performance and then providing input to the Board of Commissioners as material in making recommendations to the Board of Directors.

4. Reviewing the Company's 2020 RKAP and also on the draft rolling of RJPP.

5. Carrying out other duties and responsibilities given by the Board of Commissioners from time to time.

RISK MANAGEMENT COMMITTEE RECOMMENDATIONS TO THE BOARD OF COMMISSIONERSIn 2019, the recommendations given by the Risk Management Committee was as presented in the Brief Report on the Implementation of Duties and Activities of the Risk Management Committee in 2019.


ORGAN PENDUKUNG DIREKSIDirectors Supporting Organs

SEKRETARIS PERUSAHAAN

Sebagai perusahaan publik, Perseroan wajib memiliki fungsi Sekretaris Perusahaan sesuai dengan Peraturan Otoritas Jasa Keuangan Nomor 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik. Sekretaris Perusahaan mempunyai tugas dan tanggung jawab dalam memfasilitasi komunikasi antara organ Perseroan, bertanggung jawab dalam penyusunan kebijakan, perencanaan serta memastikan efektivitas dan transparansi komunikasi perusahaan, hubungan kelembagaan, hubungan investor dan pelaku pasar modal lainnya dengan tetap memperhatikan prinsip standar etika Perusahaan, prinsip tata kelola Perusahaan, dan nilai-nilai Perusahaan.

Sekretaris Perusahaan bertanggung jawab langsung kepada Direksi serta diangkat dan diberhentikan berdasarkan Keputusan Direksi berdasarkan mekanisme internal Perusahaan dengan persetujuan Dewan Komisaris.

PIHAK YANG MENGANGKAT DAN MEMBERHENTIKAN SEKRETARIS PERUSAHAAN1. Sekretaris Perusahaan diangkat berdasarkan keputusan

Direksi. Dalam struktur organisasi Perseroan, Sekretaris Perusahaan bertanggung jawab kepada Direktur Utama.

2. Fungsi Sekretaris Perusahaan dapat dilaksanakan oleh orang perseorangan atau unit kerja yang dipimpin oleh satu penanggung jawab.

3. Sekretaris Perusahaan dapat dirangkap oleh seorang anggota Direksi Perseroan.

4. Pengangkatan Sekretaris Perusahaan wajib dilaporkan kepada Otoritas Jasa Keuangan (“OJK”) dan diumumkan kepada publik melalui Situs Web Perseroan dan Bursa Efek Indonesia (“IDXNet”) selambatnya 2 (dua) hari setelah pengangkatan.

KUALIFIKASI PEJABAT SEKRETARIS PERUSAHAANSekretaris Perusahaan harus memenuhi persyaratan paling kurang: 1. Cakap melakukan perbuatan hukum 2. Memiliki pengetahuan dan pemahaman di bidang hukum,

keuangan dan tata kelola perusahaaan 3. Memahami kegiatan usaha Perseroan 4. Dapat berkomunikasi dengan baik 5. Berdomisili di Indonesia.

PEJABAT SEKRETARIS PERUSAHAANPenetapan Pejabat Sekretaris Perusahaan sesuai dengan Keputusan Direksi SK No.016/EN/KPTS/000D/2019 yang mengangkat Ari Wijaya sebagai Sekretaris Perusahaan dan telah mendapat persetujuan Dewan Komisaris. Pengangkatan Sekretaris Perusahaan telah dipublikasikan di situs web Perseroan dan dilaporkan kepada OJK pada 2 November 2019 untuk memenuhi Peraturan OJK No. 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik.

CORPORATE SECRETARY

As a public company, the Company is required to have a Corporate Secretary function in accordance with the Financial Services Authority Regulation No. 35/POJK.04/2014 concerning Corporate Secretary Issuers or Public Companies. The Corporate Secretary has the duty and responsibility in facilitating communication between the Company's organs, is responsible for formulating policies, planning and ensuring the effectiveness and transparency of company communications, institutional relations, investor relations and other capital market players while taking into account the principles of the Company's ethical standards, governance principles Company, and Company values.

The Corporate Secretary is directly responsible to the Directors and is appointed and dismissed based on the Directors' Decree based on the Company's internal mechanism with the approval of the Board of Commissioners.

THE PARTY THAT APPOINTS AND DISMISSES THE CORPORATE SECRETARY1. The Corporate Secretary is appointed based on the Board

of Directors' decision. In the Company's organizational structure, the Corporate Secretary is responsible to the President Director.

2. The function of the Corporate Secretary can be carried out by individuals or work units led by one person in charge.

3. The Corporate Secretary can be concurrently held by a member of the Company's Board of Directors.

4. Appointment of the Corporate Secretary must be reported to the Financial Services Authority ("OJK") and announced to the public through the Company's Website and the Indonesia Stock Exchange ("IDXNet") no later than 2 (two) days after the appointment.

QUALIFICATION OF ACTING CORPORATE SECRETARYThe Corporate Secretary must meet the following requirements:

1. Competent in carrying out legal actions2. Having knowledge and understanding in the fields of law,

finance and corporate governance3. Understand the Company's business activities4. Able to communicate well5. Domiciled in Indonesia.

ACTING CORPORATE SECRETARYDetermination of the Acting Secretary of the Company in accordance with the Decree of the Board of Directors No.016/EN/KPTS/000D/2019 which appointed Ari Wijaya as Corporate Secretary and was approved by the Board of Commissioners. The appointment of the Corporate Secretary has been published on the Company's website and reported to the OJK on November 2, 2019 to comply with OJK Regulation No. 35/POJK.04/2014 concerning Corporate Secretary of Issuers or Public Companies.



Ari Wijaya*Sekretaris PerusahaanCorporate Secretary

UsiaAge

49 tahun 10 bulan49 years 10 months

Tempat & Tanggal LahirPlace & Date of Birth

Malang, 23 Maret 1970Malang, March 23, 1970

KewarganegaraanCitizenship

Indonesia

Riwayat PendidikanEducation History

• S1 lulus 1994: Teknik Mesin/Produksi, Universitas Brawijaya• S2 lulus 2009 : Magister Manajemen/Produksi, Universitas Trisakti.• Bachelor’s Degree in Machine/Production Engineering, Brawijaya University, 1994• Master’s Degree in Management/Production, Trisakti University, 20092017 : Accredited Supply Chain Analist, American Academy

Dasar Hukum Penunjukan Sekretaris PerusahaanLegal Basis for Appointment of Corporate Secretary

SK No.016/EN/KPTS/000D/2019Decree No.016/EN/KPTS/000D/2019

Riwayat JabatanOccupational Position History

• 1994-1996 : Production Supervisor, PT Cipta Piranti Tehnik (Astra Group)• 1996-2003 : Supply Services Manager, PT Gillette Indonesia• 2003-2005 : Supply Chain Manager, PT Nippon Indosari Corpindo (SariRoti)• 2005-2007 : Procurement Manager, PT Semen Andalas Indonesia (Lafarge Cement)• 2007-2009 : Sourcing & Supplier Development Manager, PT Danone Indonesia.• 2009-2012 : Strategic Sourcing & Performance Manager, PT Elnusa Tbk.• 2012-2013 : Division Head of Procurement & Asset Management, PT Elnusa, Tbk.• 2013-2015 : Vice President of Procurement, General Affairs and Property Management, PT Elnusa Tbk.• 2015-2017 : Presiden Direktur PT Elnusa Daya Kreatif (Group of Elnusa)• 2017-2019 : Vice President of Property Management & General Affiars, PT Elnusa Tbk• 1994-1996: Production Supervisor, PT Cipta Piranti Tehnik (Astra Group)• 1996-2003: Supply Services Manager, PT Gillette Indonesia• 2003-2005: Supply Chain Manager, PT Nippon Indosari Corpindo (SariRoti)• 2005-2007: Procurement Manager, PT Semen Andalas Indonesia (Lafarge Cement)• 2007-2009: Sourcing & Supplier Development Manager, PT Danone Indonesia.• 2009-2012: Strategic Sourcing & Performance Manager, PT Elnusa Tbk.• 2012-2013: Division Head of Procurement & Asset Management, PT Elnusa, Tbk.• 2013-2015: Vice President of Procurement, General Affairs and Property Management, PT Elnusa Tbk.• 2015-2017: President Director of PT Elnusa Daya Kreatif (Group of Elnusa)• 2017-2019: Vice President of Property Management & General Affiars, PT Elnusa Tbk

DomisiliDomicile

Tangerang Selatan, BantenSouth Tangerang, Banten

*Ari Wijaya Resmi Menjabat Sebagai Sekretaris Perusahaan Per 1 November 2019.* Ari Wijaya was officially appointed as Company Secretary in November 1, 2019.


ORGANIZATIONAL STRUCTURE OF THE CORPORATE SECRETARY

The organizational structure of the Corporate Secretary is determined in accordance with Directors Decree No. 269/EN/KPTS/000D/2019 dated November 1, 2019, the number of employees who are members of the Corporate Secretary unit is 23 people.

STRUKTUR ORGANISASI SEKRETARIS PERUSAHAAN

Direktur Utama President Direktur

Sekretaris Perusahaan Corporate Secretary

Institutional Relation Specialist

Investor Relation Specialist

Manager of Corporate Communications

Corporate Communication Officer

Asst. Manager of Community Relation GRS

Manager of Community Relation

Digital & Social Media Communication Officer

Asst. Manager of Community Relation POMS

Corporate Social Responsibility Specialist

BOD Support

Senior Manager of Corporate Relation

Struktur organisasi Sekretaris Perusahaan ditetapkan sesuai Keputusan Direksi No. 269/EN/KPTS/000D/2019 tanggal 1 November 2019, jumlah karyawan yang tergabung dalam unit Sekretaris Perusahaan sebanyak 23 orang.

Jabatan Position

Jumlah (org)Total (person)

Sekretaris PerusahaanCORPORATE SECRETARY

1

BOD Support -Institutional Relation Specialist 1Investor Relation Specialist 1Senior Manager of Corporate Relation -Corporate Social Responsibility Specialist -Manager of Corporate Communication 1Corporate Communication Officer 2Digital & Social Media Communication Officer 1Manager of Community Relation -Assistant Manager of Community Relation GRS (Pjs) 1Senior HumasSenior Public Relation

2

HumasPublic Relation

12

Junior HumasJunior Public Relation

1

Assistant Manager of Community Relation POMS -JumlahTotal 23



PIAGAM SEKRETARIS PERUSAHAANSebagai perusahaan publik yang sahamnya tercatat pada Bursa Efek Indonesia dengan kode emiten ELSA, Perseroan wajib memiliki Sekretaris Perusahaan sebagaimana diatur dalam Peraturan Otoritas Jasa Keuangan NOmor 35/PPOJK.04/2014 tanggal 8 Desember 2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik serta Peraturan Bursa Efek Indonesia Nomor I-A Lampiran Surat Keputusan Direksi Bursa Efek Indonesia Nomor Kep.00001/BEI/01-2014 tanggal 20 Januari 2014.

Dalam Piagam Sekretaris Perusahaan menyatakan bahwa pembentukan fungsi Sekretaris Perusahaan dan penerbitan Piagam Sekretaris Perusahaan dimaksudkan utamanya untuk memastikan bahwa tindakan Perusahaan sejalan dengan prinsip dan aturan tata kelola yang telah diadopsi oleh Perusahaan serta sesuai dengan peraturan perundang-undangan yang berlaku.

Piagam Sekretaris Perusahaan disahkan oleh Direksi Perseroan guna menjadi pedoman dan bisa dapat ditinjau kembali guna dilakukan penyesuaian sesuai dengan perkembangan Perseroan dan perubahan peraturan perundang-undangan yang berlaku. Piagam ini memuat hal-hal di antaranya; 1. Latar Belakang 2. Tujuan 3. Struktur dan Kedudukan Sekretaris Perusahaan, 4. Persyaratan Sekretaris Perusahaan 5. Tugas dan Tanggung Jawab Sekretaris Perusahaan6. Pengunduran Diri/Pemberhentian Sekretaris Perusahaan

TUGAS DAN TANGGUNG JAWAB SEKRETARIS PERUSAHAANTugas dan tanggung jawab Sekretaris Perusahaan tercantum dalam Uraian Jabatan tanggal 26 Mei 2015 di mana Sekretaris Perusahaan memiliki lima fungsi utama dalam mendukung hubungan Perusahaan dengan stakeholders, yaitu:1. Sebagai pejabat penghubung.2. Sebagai komunikator perusahaan.3. Sebagai pelaksana GCG.4. Sebagai penatausahaan dokumen perusahaan.5. Sebagai pusat informasi dan publikasi resmi perusahaan.

Tugas dan tanggung jawab Sekretaris Perusahaan telah disesuaikan dengan Peraturan Otoritas Jasa Keuangan Nomor 35/POJK.04/2014, sebagai berikut:1. Persiapan, penyelenggaraan, penyediaan untuk Rapat

Direksi, Rapat Dewan Komisaris, Rapat Umum Pemegang Saham (RUPS), serta monitoring pelaksanaan keputusan dalam Rapat Direksi, rapat Dewan Komisaris dan RUPS dan mengelola dan mengkoordinasikan sumber daya yang ada terkait hal tersebut.

2. Menjadi gerbang informasi perusahaan dan pengelolaan berbagai communications channel (email blast, internal magazine, website, intranet, press release) baik untuk kepentingan internal maupun eksternal.

3. Penyusunan strategi untuk peningkatan citra (image) dan kinerja perusahaan serta meredam isu negatif yang mungkin atau telah timbul dan mempunyai dampak terhadap citra, dan kinerja perusahaan.

CORPORATE SECRETARY CHARTERAs a public company whose shares are listed on the Indonesia Stock Exchange with the issuer code ELSA, the Company is required to have a Corporate Secretary as regulated in Financial Services Authority Regulation No. 35/PPOJK.04/2014 dated December 8, 2014 concerning Corporate Secretary of Issuers or Public Companies and Stock Exchange Regulations Indonesia Number IA Attachment to Decree of the Board of Directors of the Indonesia Stock Exchange No. Kep.00001/BEI/01-2014 dated January 20, 2014.

The Corporate Secretary Charter states that the establishment of the Corporate Secretary function and the issuance of the Corporate Secretary Charter are intended primarily to ensure that the Company's actions are in line with the principles and governance rules that have been adopted by the Company and in accordance with applicable laws and regulations.

The Charter of the Corporate Secretary is ratified by the Directors of the Company in order to become a guideline and can be reviewed for adjustments in accordance with the development of the Company and changes in the legislation in force. This Charter contains matters including;1. Background2. Purpose3. Structure and Position of the Corporate Secretary,4. Requirements of the Corporate Secretary5. Duties and Responsibilities of the Corporate Secretary6. Resignation/Dismissal of the Corporate Secretary

DUTIES AND RESPONSIBILITIES OF THE CORPORATE SECRETARYThe duties and responsibilities of the Corporate Secretary are listed in the Job Description dated May 26, 2015 in which the Corporate Secretary has five main functions in supporting the Company's relations with stakeholders, namely:1. As a liaison official.2. As a company communicator.3. As a GCG implementer.4. As the administration of company documents.5. As the company's official information and publication center.

The duties and responsibilities of the Corporate Secretary have been adjusted to the Financial Services Authority Regulation Number 35/POJK.04/2014, as follows:1. Preparation, organization, provision for Board of Directors

Meetings, Board of Commissioners Meetings, General Meeting of Shareholders (GMS), as well as monitoring the implementation of decisions in Board of Directors Meetings, Board of Commissioners and GMS meetings and manage and coordinate existing resources in this regard.

2. Being a gateway for corporate information and management of various communications channels (email blasts, internal magazines, websites, intranets, press releases) for both internal and external purposes.

3. Formulation of strategies to improve the image and company performance and reduce negative issues that may or have arisen and have an impact on the image, and company performance.


4. Memastikan perusahaan melakukan kepatuhan terhadap peraturan pasar modal dan melakukan review terhadap seluruh keterbukaan informasi yang dikeluarkan perusahaan terkait dengan ketentuan pasar modal tersebut.

5. Penanggungjawab GCG (Good Corporate Governance) dengan pengaturan terkait pengawalan terhadap penerapan GCG Code dan CoC (Code of Conduct) Perusahaan.

6. Pendamping kegiatan CSR (Corporate Social Responsibility) untuk komunitas internal maupun eksternal agar mendukung kegiatan operasi maupun pembentukan/ pengembangan citra positif perusahaan.

7. Mengarahkan, mengelola, memonitor dan mengevaluasi seluruh kegiatan yang terkait dengan corporate event khususnya yang akan mempengaruhi citra perusahaan sesuai kebutuhan perusahaan.

8. Bertanggung jawab atas pelaksanaan program pengenalan perusahaan bagi Dewan Komisaris dan Direksi yang baru diangkat.

PENGEMBANGAN KOMPETENSI SEKRETARIS PERUSAHAANPerseroan memfasilitasi pelaksanaan program pengembangan bagi Sekretaris Perusahaan dalam rangka meningkatkan kompetensi. Program ini diharapkan mampu memberikan dampak positif terhadap produktivitas dan efektivitas kinerja Sekretaris Perusahaan.

Tentang kegiatan peningkatan kompetensi yang diikuti Sekretaris Perusahaan di sepanjang tahun 2019 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

PELAKSANAAN TUGAS SEKRETARIS PERUSAHAAN 2019

Berikut adalah ringkasan realisasi kegiatan Sekretaris Perusahaan yang terkait dengan Corporate Government:

No. AktivitasActivity

KeteranganNotes

1. Kepatuhan kepada Peraturan Pasar Modal (Laporan Tahunan, laporan keuangan, laporan terkait RUPS, laporan registrasi pemegang efek dll).

Compliance with Capital Market Regulations (Annual Reports, financial reports, reports related to GMS, registration of securities holders, etc.).

Bertujuan untuk memenuhi dan memastikan bawah Perseroan mematuhi peraturan yang berlaku untuk Perseroan sebagai public & listed company sesuai dengan peraturan yang ditetapkan oleh OJK dan BEI.

Aims to meet and ensure that the Company complies with the regulations that apply to the Company as a public & listed company in accordance with the regulations set by the OJK and BEI.

2. Manajemen registrasi pemegang saham.Shareholder registration management.

Melakukan manajemen registrasi pemegang saham dibantu dengan BAE Perseroan.Carrying out shareholder registration management assisted by the Company's BAE.

3. Penyusunan program pengenalan Perusahaan kepada Dewan Komisaris baru.Preparation of the Company introduction program to the new Board of Commissioners.

Melaksanakan program pengenalan Perusahaan kepada Dewan Komisaris yang baru diangkat mengenai profil Perusahaan secara umum.Implement a Company introduction program to the newly appointed Board of Commissioners regarding the Company's profile in general.

4. Pelaksanaan RUPS.Implementation of the GMS.

Selama tahun buku 2019, Perseroan menyelenggarakan satu kali RUPS Tahunan dan dua kali RUPSLB.During the 2019 fiscal year, the Company held one Annual GMS and two EGMS.

5. Manajemen dan administrasi pembayaran dividen tahun buku 2019.Management and administration of 2019 dividend payments.

Melakukan manajemen proses administrasi pembayaran dividen sesuai dengan peraturan yang berlaku.Perform management of the dividend payment administration process in accordance with applicable regulations.

4. Ensuring that the company complies with capital market regulations and conduct a review of all disclosure of information issued by the company related to the capital market regulations.

5. Responsible for Good Corporate Governance (GCG) with arrangements related to oversight of the implementation of the Company's GCG Code and CoC (Code of Conduct).

6. Companion of CSR (Corporate Social Responsibility) activities for internal and external communities to support operational activities and the formation/development of a positive corporate image.

7. Directing, managing, monitoring and evaluating all activities related to corporate events especially those that will affect the image of the company according to company needs.

8. Responsible for implementing the company introduction program for the newly appointed Board of Commissioners and Directors.

COMPETENCY DEVELOPMENT OF THE CORPORATE SECRETARYThe Company facilitates the implementation of development programs for the Corporate Secretary in order to improve competence. The program is expected to have a positive impact on the productivity and effectiveness of the performance of the Corporate Secretary.

Concerning competency enhancement activities that were followed by the Corporate Secretary throughout 2019, can be seen in the chapter of the Company Profile in this annual report.

IMPLEMENTATION OF THE DUTIES OF THE CORPORATE SECRETARY IN 2019The following is a summary of the realization of Corporate Secretary activities related to Corporate Government:




KeteranganNotes

6. Melakukan update atas beberapa pedoman kepatuhan dan pemenuhan ABC Capability Assessment Update several compliance guidelines and fulfillment of ABC Capability Assessment

Code of Conduct ABC Capability Assessment dari BP

- Code of conduct- ABC Capability Assessment from BP

7. Berpartisipasi dalam rapat Dewan Komisaris dan rapat Direksi.Participate in Board of Commissioners meetings and Board of Directors meetings.

Melakukan persiapan dan penyelenggaraan, termasuk menyediakan Informasi/data untuk keperluan rapat tersebut, melakukan monitor terhadap pelaksanaan keputusan dalam rapat dan mengintegrasikan resources untuk dapat menyelesaikan pending matters terkait hal tersebut.Preparation and implementation, including providing information/data for the purpose of the meeting, monitoring the implementation of decisions in the meeting and integrating resources to be able to resolve pending matters related to it.

8. Sosialisasi CoC CoC Socialization

Corporate Secretary berperan aktif mensupport fungsi EPS dalam menjalankan program sosialisasi CoC sebagai bentuk implementasi penguatan budaya PerseroanThe Corporate Secretary has an active role in supporting the EPS function in carrying out CoC socialization programs as a form of implementing the strengthening of the Company's culture

Berikut adalah ringkasan realisasi kegiatan Sekretaris Perusahaan yang terkait dengan Investor Relation:


KeteranganNotes

1. Paparan PublikPublic Expose

Melakukan 1 (satu) kali paparan public pada tanggal 28 Agustus 2019, bertempat di Bursa Efek Indonesia untuk menyampaikan update kinerja Perseroan 2019 dan strategi serta rencana kerja yang akan datang.Conducted 1 (one) public exposure on August 28, 2019, at the Indonesia Stock Exchange to deliver an update of the Company's 2019 performance and future strategies and work plans.

2. Pertemuan tatap muka dan conference call dengan AnalisFace-to-face meeting and conference calls with Analysts

Selama tahun 2019 melakukan 40 pertemuan tatap muka dan conference call dengan analis/investor/fund manager baik local maupun luar negri untuk memberikan informasi mengenai Perseroan.During 2019 conducted 40 face-to-face meetings and conference calls with analysts/investors/fund managers both local and abroad to provide information about the Company.

3. Roadshow dan konferensi Roadshow and Conference

Partisipasi dalam berbagai deal dan non-deal roadshow serta konferensi yang diadakan oleh beberapa perusahaan sekuritas ternama dengan tujuan memberikan informasi mengenai kinerja serta tantangan dan strategi yang dilakukan Persroan. Pada tahun ini satu kali melakukan Domestik NDR dengan Trimegah pada tanggal 18 September 2019.Participating in various deal and non-deal roadshows as well as conferences held by several well-known securities companies with the aim of providing information on handling the performance and challenges and strategies of the company. This year the Company conducted NDR for one time with Trimegah on 18 September 2019.

4 Research ReportResearch Report

Aktif berupaya agar analis pada sekuritas-sekuritas melakukna penulisan laporan ELSA secara berkala baik yang sifatnya coverage maupun daily notes. Actively organize analysts in securities to write ELSA reports periodically both coverage and daily notes.

5 Corporate ActionsCorporate Actions

Partisipasi dalam hal tindakan yang dilakukan perusahaan dimana dapat berdampak terhadap kepemilikan saham investor atau harga sahamnya itu sendiri. Participation in terms of actions taken by the Company which can overlap with the ownership of investors' shares or the price shares.

Sekretaris Perusahaan juga bertanggung jawab atas kegiatan Corporate Communication yang memiliki tugas dalam memastikan visi, misi, strategi maupun nilai perusahaan tersampaikan dan dipahami oleh setiap stakeholders. Secara spesifik Corporate Communications memiliki empat peran, yaitu internal communication, external communication, brand management, dan community involvement & development. Kinerja Corporate Communications selama periode 2019 adalah sebagai berikut:

The following table is a summary of the realization of Corporate Secretary activities related to Investor Relations:

The Corporate Secretary is also responsible for Corporate Communication activities which has the task of ensuring the Company's vision, mission, strategy and values are conveyed and understood by each stakeholder. Specifically, Corporate Communications has four roles, namely internal communication, external communication, brand management, and community involvement & development. The performance of Corporate Communications during the 2019 period is as follows:


No Peran Kegiatan Keterangan1 Internal

CommunicationsInternal Communications bertujuan untuk memastikan strategi, kebijakan, pesan-pesan Direksi dan informasi Perseroan lainnya tersebar dan dipahami oleh seluruh manajemen dan karyawan. Corporate Communications sebagai fungsi yang khusus menangani hal ini telah melakukan berbagai inisiatif dan kegiatan untuk penyebaran informasi tersebut, baik melalui channel dan tools communications di media cetak online dan offline maupun melalui pertemuan. Sepanjang 2019, internal communications mencatatkan hasil kepuasan karyawan sebagai berikut:• Semester I 82%• Semeseter II 88.5%Internal Communications aims to ensure that the strategies, policies, messages of the Directors and other Company information are spread and understood by all management and employees. Corporate Communications has a specific function to handle this issue has carried out various initiatives and activities to disseminate the information, both through communication channels and tools in print media online and offline as well as through meetings. During 2019, internal communications recorded the results of employee satisfaction as follows:• 1st Semester 82%• 2nd Semester 88,5%

2 External Communication

Sebagai hasil dari peningkatan berbagai aktivitas external communication, hasil pemberitaan Elnusa menghasilkan capaian sebagai berikut:• Berita tercover media mencapai 298 berita• 99% berita merupakan berita positif seputar kinerja keuangan, operasi dan lain-lain• Nilai advertising value dari berita mencapai Rp13 miliar, dengan PR value mencapai Rp39 miliar. Hasil PR value

merupakan ad value dikali 3.• Berdasarkan opportunity to view nya, berita positif Elnusa mencapai 22,4 juta. Nilai opportunity to view ini didasarkan

atas potensi publisitas dari suatu media yang ditentukan melalui jumlah oplah ataupun traffic.As a result of an increase in various external communication activities, the results of Elnusa's report produced the following achievements:• News covered by the media reached 298 news• 99% of news is positive news about financial performance, operations and others• The advertising value of the news reached Rp13 billion, with a PR value of Rp39 billion. The result of PR value is

ad value multiplied by 3.• Based on its opportunity to view, Elnusa's positive news reached 22.4 million. The value of opportunity to view is

based on the potential for publicity of a media which is determined through the amount of circulation or traffic.3 Brand

ManagementSecara umum, aktivitas brand Elnusa dibangun melalui pengelolaan social media, sponsorship, exhibition, merchandise, maupun berbagai communication tools lainnya. Elnusa memiliki tiga social media yang sedang dikembangkan saat ini, dengan LinkedIn yang memiliki follower terbanyak. IPA convention & exhibition masih merupakan exhibition utama yang diikuti. Untuk level internasional, ada dua event yang diikuti, yaitu Indonesia Africa International Dialog dan Adipec. Nilai sponsorship tercatat secara konsolidasi mencapai Rp2,26 miliar.Dari sisi produksi communication tools untuk mendukung visualisasi brand, Corporate Communications mengestimasi value produksi mencapai Rp120 miliar. Nilai ini merupakan value yang dihasilkan dari berbagai design support sepanjang tahun.In general, Elnusa brand activity is built through the management of social media, sponsorships, exhibitions, merchandise, and various other communication tools. Elnusa has three social media that are currently being developed, with LinkedIn having the most followers. IPA convention & exhibition is still the main exhibition that followed. At the international level, there were two events that were followed, namely Indonesia Africa International Dialog and Adipec. The value of sponsorship was recorded on a consolidated basis reaching Rp2.26 billion. In terms of the production of communication tools to support brand visualization, Corporate Communications estimates production value of Rp120 billion. This value is the value generated from various design support throughout the year.

4 Community Involvement & Development

Peran Corporate Communications dalam CID merupakan sebagai pengelola sekaligus pelaksana kegiatan. Dalam hal pelaksanaan, peran ini dibantu oleh YBHE maupun pihak ketiga lainnya. Aspek CID yang dikelola oleh Corporate Communications meliputi aspek lingkungan, ekonomi, kesehatan, dan pendidikan.Total dana yang dikelola mencapai Rp3,6 miliar. Jumlah benefisiaris mencapai 40 ribu orang. Baik dana maupun benefisiaris hanya berasal dari holding. Baik nilai maupun benefisiaris cenderung mengalami peningkatan bila dibandingkan tahun sebelumnya.The role of Corporate Communications in CID is as manager as well as implementing activities. In terms of implementation, this role was assisted by YBHE and other third parties. The CID aspects managed by Corporate Communications include environmental, economic, health and education aspects. Total funds managed reached Rp3.6 billion. The number of beneficiaries reached 40 thousand people. Both funds and beneficiaries only come from holding. Both value and beneficiaries tended to increase compared to the previous year.



UNIT AUDIT INTERNAL

Internal audit merupakan bagian dari organisasi perusahaan yang memiliki peranan penting dalam perkembangan perusahaan yaitu bertugas dan bertanggung jawab untuk memberikan pendapat profesional dan independen serta rekomendasi perbaikan kepada Direktur Utama serta manajemen terkait mengenai kegiatan atau operasional perusahaan.

Kegiatan Internal Audit dilakukan mengacu kepada standar yang telah ditetapkan secara nasional ataupun internasional dan menjadikan standar tersebut sebagai acuan atau pedoman dalam melaksanakan aktivitas audit.

Internal Audit berdasarkan standar yang berlaku didefinisikan sebagai suatu kegiatan pemberian keyakinan (assurance) dan konsultasi yang bersifat independen dan obyektif, dengan tujuan untuk memberikan nilai tambah dan memperbaiki operasional perusahaan, melalui pendekatan yang sistematis, dengan cara mengevaluasi dan meningkatkan efektivitas manajemen risiko, pengendalian, dan proses tata kelola perusahaan.

PIHAK YANG MENGANGKAT DAN MEMBERHENTIKAN KEPALA INTERNAL AUDITInternal Audit dipimpin oleh seorang kepala yang disebut Kepala Internal Audit atau Chief of Internal Audit yang diangkat dan diberhentikan oleh Direksi dengan persetujuan Dewan Komisaris.

PERTANGGUNGJAWABANSecara struktural Kepala Internal Audit atau Chief of Internal Audit bertanggungjawab kepada Direktur Utama dan mempunyai hubungan fungsional dengan Komite Audit. Chief of Internal Audit wajib menyampaikan Laporan Hasil Audit (LHA) kepada Direktur Utama, Komite Audit, dan Auditee.

PROFIL KEPALA INTERNAL AUDIT ATAU CHIEF OF INTERNAL AUDITBerdasarkan SK No. 016/EN/KPTS/000D/2019 tanggal 1 November 2019 tentang Penetapan Mutasi Jabatan Manajemen, Direktur Utama mengangkat Ganang Soegiyarso sebagai Chief of Internal Audit Perseroan.

INTERNAL AUDIT UNIT

Internal audit is part of a company organization that has an important role in the development of the company, which is tasked with and responsible for providing professional and independent opinions and recommendations for improvement to the President Director and related management regarding company activities or operations.

Internal Audit activities are carried out in reference to standards that have been set nationally or internationally and make these standards as a reference or guide in carrying out audit activities.

Internal Audit based on applicable standards is defined as an assurance and consultation activity that is independent and objective, with the aim of providing added value and improving company operations, through a systematic approach, by evaluating and increasing the effectiveness of risk management, control, and corporate governance processes.

THE PARTY THAT APPOINT AND DISMISS THE HEAD OF INTERNAL AUDIT Internal Audit is led by the Chief of Internal Audit who is appointed and dismissed by the Board of Directors with the approval of the Board of Commissioners.

ACCOUNTABILITYStructurally the Chief of Internal Audit is responsible to the President Director and has a functional relationship with the Audit Committee. The Chief of Internal Audit must submit the Audit Report (LHA) to the President Director, Audit Committee and Auditee.

CHIEF OF INTERNAL AUDIT PROFILEBased on Decree No. 016/EN/KPTS/000D/2019 dated 1 November 2019 concerning the Establishment of a Management Position, the President Director appointed Ganang Soegiyarso as the Chief of Internal Audit of the Company.


Ganang SoegiyarsoChief of Internal Audit

Menjabat sejak : 1 November 2019: Served since: November 1, 2019

Data PribadiWarga negara IndonesiaUsia 52 tahunKelahiran Solo, 12 Agustus 1967

DomisiliPondok Aren, Tangerang Selatan,Provinsi Banten, Indonesia

PendidikanAkuntan STAN Jakarta lulus tahun 1995

Sertifikasi ProfesiSertifikasi Qulified Internal Auditor (QIA) Tahun 2017, Yayasan Pendidikan Internal Auditor (YPIA)

Bergabung di Elnusa2/Januari/2013

Pengalaman Kerja1. Auditor pada Tim Gabungan Pemeriksaan Wajib Pajak Potensial

Badan Pengawasan Keuangan & Pembangunan (BPKP)-Ditjen Pajak di Jakarta 1989 – 1992

2. Auditor pada BPKP Kantor Perwakilan Sumatera Selatan di Palembang 1995 – 2000

3. Auditor pada Deputi Pengawasan Instansi Pemerintah Bidang Polsoskam BPKP Kantor Pusat di Jakarta 2000 – 2005

4. Anggota Tim Koordinasi Pemberantasan Tindak Pidana Korupsi (Timtastipikor) di Kejaksaan Agung RI Jakarta 2005 – 2007


6. Auditor pada Inspektorat Badan Narkotika Nasional (BNN) Jakarta 2008 – 2009


8. Internal Control Chief Officer pada PT Inti Karya Persada Teknik (IKPT) di Jakarta 2012

9. Senior Auditor PT Elnusa Tbk 2013 - 201910. Chief of Internal Audit PT Elnusa Tbk Nov 2019 sd sekarang

Personal DataIndonesian citizen52 years oldBorn in Solo, August 12, 1967

DomicilePondok Aren, Tangerang Selatan, Banten Province, Indonesia

EducationJakarta STAN accountant graduated in 1995

Professional CertificationQulified Internal Auditor (QIA) Certification 2017, Internal Auditor Education Foundation (YPIA)

Start of Employment in ElnusaJanuary 2, 2013

Work Experience1. Auditor on the Joint Team for Examination of Potential Taxpayers

of the Financial & Development Supervisory Agency (BPKP) -Ditjen Tax in Jakarta 1989 - 1992

2. Auditor at the BPKP South Sumatera Representative Office in Palembang 1995-2000

3. Auditor at the Deputy of the Supervision of Government Agencies of the BPKP Polsoskam Head Office in Jakarta 2000 - 2005

4. Members of the Corruption Eradication Coordination Team (Timtastipikor) at the Indonesian Attorney General's Office in Jakarta 2005 - 2007

5. Auditor at the Deputy of the Supervision of Government Agencies in the Polsoskam BPKP Head Office in Jakarta 2007 - 2008

6. Auditor at the Jakarta National Narcotics Agency (BNN) Inspectorate 2008 - 2009

7. Auditor at the Deputy of the Supervision of Government Agencies at the BPKP Polsoskam Head Office in Jakarta 2009 - 2012

8. Internal Control Chief Officer at PT Inti Karya Persada Teknik (IKPT) in Jakarta 2012

9. Senior Auditor of PT Elnusa Tbk 2013 - 201910. Chief of Internal Audit of PT Elnusa Tbk Nov 2019 - now



ORGANIZATIONAL STRUCTURE AND POSITION OF INTERNAL AUDITInternal Audit is led by a head called the Chief of Internal Audit who is appointed and dismissed by the Board of Directors with the approval of the Board of Commissioners. Structurally the position is responsible to the President Director of the Company and has a functional relationship with the Audit Committee. The Chief of Internal Audit must submit the Audit Report (LHA) to the President Director, the Audit Committee and the Auditee.

Until the end of 2019, the Internal Audit Function has 8 personnel with the following details:

STRUKTUR ORGANISASI DAN KEDUDUKAN INTERNAL AUDITInternal Audit dipimpin oleh seorang kepala yang disebut Chief of Internal Audit yang diangkat dan diberhentikan oleh Direksi dengan persetujuan Dewan Komisaris. Secara struktural bertanggungjawab kepada Direktur Utama Perusahaan dan mempunyai hubungan fungsional dengan Komite Audit. Chief of Internal Audit wajib menyampaikan Laporan Hasil Audit (LHA) kepada Direktur Utama, Komite Audit, dan Auditee.

Struktur Organisasi Internal AuditInternal Audit Organizational Structure


Support Officer

Senior Auditor SupportSenior Auditor Operation

Auditor

Chief of Internal Audit

President Director

Hingga akhir tahun 2019, Fungsi Internal Audit memiliki 8 personil dengan rincian sebagai berikut:

Jabatan/FungsiPosition/Function

JumlahAmount

Kepala Internal Audit Chief of Internal Audit

1 orang/member

Senior Auditor Operation vacant

Senior Auditor Support 1 orang/member Auditor 2 orang/members

Junior Auditor 3 orang/members

Support Officer 1 orang/member

JumlahTotal 8 orang/members


RIWAYAT PENDIDIKAN ANGGOTAPERSONIL UNIT INTERNAL AUDIT

No. AnggotaMember

PendidikanEducation

1. Ardiyanto Sarjana Teknik Fisika dari Universitas Diponegoro (1991)Bachelor’s Degree in Physics Engineering from Diponegoro University (1991)

2. Irma Devianti Sarjana Ekonomi Jurusan Akuntansi dari Universitas Diponegoro (2005)Bachelor’s Degree in Accounting from Diponegoro University (2005)

3. Wirawan Moehammad Sarjana Ekonomi Jurusan Akuntansi dari Universitas Indonesia (2008)Bachelor’s Degree in Accounting from University of Indonesia (2008)

4. Raditya Arya Kusumah Sarjana Teknik Perminyakan dari Universitas Trisakti (2010)Bachelor’s Degree in Oil Engineering from Trisakti University (2010)

5. Danang Swastiko Sarjana Teknik Fisika dari Universitas Indonesia (2013)Bachelor’s Degree in Physics Engineering from University of Indonesia (2013)

6. Erika Putri Dewi Sarjana Ekonomi Jurusan Akuntansi dari Universitas Trisakti (2014)Bachelor’s Degree in Accounting from Trisakti University (2014)

7. Shoffy Mulyanti Sarjana Teknik Arsitektur dari Universitas Trisakti (1997)Bachelor’s Degree in Architecture from Trisakti University (2005)

SERTIFIKASI PROFESI INTERNAL AUDITAuditor Internal Audit memiliki kualifikasi dan kompetensi yang memadai dalam melaksanakan fungsi dan tugasnya, hal ini ditandai dengan sertifikasi yang dimilki oleh sebagian besar Auditor dan akan diikuti oleh auditor lainnya. Auditor wajib memenuhi kualifikasi dan persyaratan antara lain: (1) memiliki integritas dan perilaku yang profesional, serta obyektif dalam pelaksanaan tugasnya, (2) memiliki pengetahuan tentang peraturan perundang-undangan yang terkait dengan proses bisnis migas, (3) memiliki pengalaman mengenai teknis audit dan disiplin ilmu lain yang relevan dengan bidang tugasnya, (4) cakap dalam berinteraksi dan berkomunikasi baik lisan maupun tertulis secara efektif, (5) mematuhi standar profesi dan kode etik yang dikeluarkan oleh asosiasi Audit Internal, (6) menjaga kerahasiaan informasi dan/atau data Perusahaan terkait pelaksanaan tugas dan tanggung jawabnya, serta (7) memahami prinsip-prinsip tata kelola perusahaan yang baik dan memiliki pengetahuan manajemen risiko yang memadai. Untuk itu seluruh auditor dilengkapi dengan pengetahuan yang perlu ditingkatkan secara berkelanjutan.

Berikut rincian level sertifikasi masing-masing anggota Internal Audit.

Level SertifikasiCertification Level

Jumlah AuditorAuditor Total

Qualified Internal Auditor (QIA) 6 orang/membersAudit Internal Tingkat Dasar IIInternal Audit Basic Level 2

2 orang/members

Jumlah / Total 8 orang/members

PIAGAM INTERNAL AUDITPada tahun tahun 2018, Internal Audit telah mengevaluasi Piagam Internal Audit (Audit Charter) yang telah beberapa kali dilakukan revisi, revisi terakhir dilakukan pada tahun 2019 dengan lembar pengesahan No.1/PPAI-EN/II/2019 tanggal 28 februari 2019 yang ditandatangani oleh Ketua Komite Audit dan Direktur Utama. Piagam Internal Audit revisi terakhir telah diberlakukan secara efektif di tahun 2019. Perbaikan/revisi Piagam Internal Audit mengacu pada Peraturan dan Perundang-undangan yang berlaku maupun International Standards for the Professional Practice of Internal Auditing (Standards).

EDUCATION HISTORY OF INTERNAL AUDITUNIT PERSONNEL MEMBERS

INTERNAL AUDIT PROFESSIONAL CERTIFICATIONInternal Audit Auditors have adequate qualifications and competence in carrying out their functions and duties, this is indicated by the certification that is owned by most Auditors and will be followed by other auditors. Auditors are required to meet the qualifications and requirements, among others: (1) having integrity and professional behavior, as well as being objective in carrying out their duties, (2) having knowledge of the laws and regulations relating to the oil and gas business process, (3) having experience in technical audits and other disciplines relevant to their area of work, (4) competent in interacting and communicating both verbally and in writing effectively, (5) adhering to professional standards and ethical codes issued by the Internal Audit association, (6) maintaining the confidentiality of information and/or Company data related to the implementation of its duties and responsibilities, and (7) understanding the principles of good corporate governance and has adequate risk management knowledge. For this reason, all auditors are equipped with knowledge that needs to be improved on an ongoing basis.

The following details the level of certification of each member of the Internal Audit.

INTERNAL AUDIT CHARTERIn 2018, Internal Audit has evaluated the Internal Audit Charter (Audit Charter) which has been revised several times, the last revision was done in 2019 with ratification sheet No.1/PPAI-EN/II/2019 dated February 28, 2019 signed by the Chairperson of the Audit Committee and President Director. The latest revised Internal Audit Charter was effective in 2019. The revision of the Internal Audit Charter refers to the applicable laws and regulations as well as the International Standards for Professional Practice of Internal Auditing.



INDEPENDENSISebagai pemeriksa internal, Internal Audit dalam menjalankan tugas dan fungsinya memiliki kebebasan bertindak (independen) secara objektif. Sesuai dengan Standards, aktivitas audit internal harus bebas dari campur tangan dalam penentuan ruang lingkup audit internal, pelaksanaan penugasan, dan pelaporan hasilnya. Kepala Audit Internal harus mengungkapkan campur tangan itu kepada Dewan dan mendiskusikan implikasinya.

TUGAS DAN TANGGUNG JAWABDivisi Internal Audit bersifat independen dan mempunyai tugas dan tanggung jawab sebagai berikut:1. Menyusun dan melaksanakan rencana Audit Internal

tahunan berbasis risiko;2. Menguji dan mengevaluasi pelaksanaan pengendalian

interen dan sistem manajemen risiko sesuai dengan kebijakan perusahaan sebagaimana tertera dalam Program Kerja Audit Tahunan (PKAT);

3. Melakukan pemeriksaan dan penilaian atas efisiensi dan efektivitas di bidang keuangan, akuntansi, operasional, sumber daya manusia, pemasaran, teknologi informasi, dan kegiatan lainnya sebagaimana tertera dalam Program Kerja Audit Tahunan (PKAT);

4. Memberikan saran perbaikan dan informasi yang obyektif tentang kegiatan yang diperiksa pada semua tingkat manajemen;

5. Membuat laporan hasil audit dan menyampaikan laporan tersebut kepada Direktur Utama dan Komite Audit;

6. Memantau, menganalisis dan melaporkan pelaksanaan tindak lanjut perbaikan yang telah disarankan;

7. Bekerja sama dengan Komite Audit; 8. Menyusun program untuk mengevaluasi mutu kegiatan

Internal Audit yang dilakukan;9. Melakukan pemeriksaan khusus apabila diperlukan.

WEWENANG INTERNAL AUDITUntuk mendukung kelancaran pelaksanaan tugasnya, Internal Audit diberikan wewenang untuk:1. Dapat memasuki seluruh area dalam organisasi dan

mengakses informasi, catatan, meminta keterangan dari setiap orang tanpa dibatasi (unrestricted);

2. Auditor berwenang untuk berinteraksi langsung dengan Direktur Utama, Dewan Komisaris, dan/atau Komite Audit serta anggota dari Direktur Utama, Dewan Komisaris, dan/atau Komite Audit;

3. Mengadakan rapat secara berkala ataupun insidentil dengan Direktur Utama, Dewan Komisaris, dan/atau Komite Audit;

4. Melakukan koordinasi kegiatannya dengan kegiatan auditor eksternal;

5. Melakukan koordinasi dengan auditor eksternal terkait dengan laporan tahunan, internal audit melakukan monitoring atas pelaksanaan tindak lanjut Management Letter yang diterbitkan pihak auditor eksternal.

INDEPENDENCEAs an internal examiner, Internal Audit in carrying out its duties and functions has the freedom to act (independently) objectively. In accordance with Standards, internal audit activities must be free from interference in determining the scope of internal audit, the implementation of assignments, and reporting of results. The Head of Internal Audit must disclose the intervention to the Board and discuss its implications.

DUTIES AND RESPONSIBILITIESThe Internal Audit Division is independent and has the following duties and responsibilities:1. Develop and implement a risk-based annual Internal Audit

plan;2. Test and evaluate the implementation of internal control

and risk management systems in accordance with company policy as stated in the Annual Audit Work Program (PKAT);

3. Examining and evaluating efficiency and effectiveness in finance, accounting, operations, human resources, marketing, information technology, and other activities as stated in the Annual Audit Work Program (PKAT);

4. Provide suggestions for improvements and objective information about the activities examined at all levels of management;

5. Make an audit report and submit the report to the President Director and the Audit Committee;

6. Monitor, analyze and report the implementation of the improvements that have been suggested;

7. Working closely with the Audit Committee;8. Arranging a program to evaluate the quality of Internal Audit

activities carried out;9. Conduct special checks if needed.

INTERNAL AUDIT AUTHORITYTo ensure the smooth running of its duties, the Internal Audit is authorized to:1. Enter all areas in the organization and access information,

records, request information from everyone without being restricted (unrestricted);

2. Interact directly with the President Director, the Board of Commissioners, and/or the Audit Committee and members of the President Director, the Board of Commissioners, and/or the Audit Committee;

3. Hold regular or incidental meetings with the President Director, the Board of Commissioners, and/or the Audit Committee;

4. Coordinate its activities with the activities of external auditors;

5. Coordinate with external auditors related to annual reports, internal audits monitoring the implementation of Management Letter follow-up issued by the external auditor.


PELAPORANInternal Audit menyampaikan dan menyediakan laporan kepada Direktur Utama yang terdiri dari:1. Laporan Hasil Audit Reguler yang berisi penilaian atas

kecukupan dan efektivitas proses organisasi dalam mengendalikan kegiatan operasinya serta menangani risiko di area- area hasil audit.

2. Laporan Interim yang berisi isu-isu penting hasil audit regular yang perlu segera disampaikan untuk mendapatkan arahan lebih lanjut dari Direktur Utama.

3. Laporan kemajuan pelaksanaan tindak lanjut rekomendasi hasil audit.

Laporan Singkat Pelaksanaan TugasSatuan Pengawasan Internal Tahun 2019Dalam menjalankan tugasnya, Fungsi Internal Audit memiliki Program Kerja Audit Tahunan (PKAT) tahun 2019 yang disusun dengan menggunakan pendekatan audit berbasis risiko (risk based audit). PKAT 2019 disampaikan kepada Komite Audit dan Direktur Utama untuk dimintakan persetujuan. Berikut gambaran aktivitas Audit tahun 2019:

No. TemaTheme

Cakupan AuditAudit Scope

Jumlah LaporanTotal Report

1. Business Process Employee Life cycle (recruitment – retirement) – Human Capital Division 2 Reports2. Operational Process Risk evaluation and mitigation efforts in the construction of the Hydraulic Workover Unit

(HWU) within the Production, Operation and Maintenance Service (POMS) business units to be carried out on time, on budget & on specification

1 Report

3. Operational Process Risk evaluation and control of the procurement process in the chemical business unit at PT Elnusa Petrofin

1 Report

4. Operational Process Risk evaluation and mitigation efforts so that the construction of infrastructure projects is carried out on time, on budget & on specifications at PT Elnusa Petrofin

1 Report

5. Operational Process Evaluation of the effectiveness, efficiency and economics of managing operational and non-operational activities (Panjar Kerja) in the Geodata Land business unit

2 Reports

6. Operational Process Risk Evaluation and operational aspect control in the Geodata Marine business unit 1 Report7. Operational Process Risk evaluation and operational aspects control in the Transportation business unit at PT

Elnusa Petrofin1 Report

8. Finance Management of Unbilled Receivables in the Production, Operation and Maintenance Services (POMS) business unit

1 Report

9. Finance Revenue Cycle Management in a subsidiary of PT Patra Nusa Data 1 Report10. Operational Process Risk evaluation and operational aspect control of the Subsidiary of PT Sigma Cipta Utama 1 Report

Hasil Temuan Audit di 2019Hasil pelaksanaan audit tertuang dalam Laporan Hasil Audit (LHA) yang antara lain memuat rekomendasi dari auditor atas temuan hasil audit. Rekomendasi tersebut harus ditindaklanjuti oleh auditee sesuai dengan waktu yang telah ditentukan. Monitoring tindak lanjut dilaksanakan oleh auditor secara berkala. Apabila Tindak lanjut masih belum selesai dilakukan maka akan berstatus “open” dan auditee diminta untuk memberikan progress report.

ENGEMBANGAN KOMPETENSI SATUANPENGAWASAN INTERNPerseroan memfasilitasi pelaksanaan program pengembangan bagi Internal Audit dalam rangka meningkatkan kompetensi karyawan. Program ini diharapkan mampu memberikan dampak positif terhadap produktivitas dan efektivitas kinerja Internal Audit.

Tentang kegiatan peningkatan kompetensi yang diikuti SPI di sepanjang tahun 2019 dapat dilihat pada bab Profil Perusahaan dalam laporan tahunan ini.

REPORTINGInternal Audit submits and provides reports to the President Director consisting of:1. Report on the Regular Audit Results containing an assessment

of the adequacy and effectiveness of the organization's processes in controlling its operations and handling risks in the audit results areas.

2. An Interim Report containing important issues of the results of a regular audit that needs to be submitted immediately to get further direction from the President Director.

3. Progress report on the implementation of follow-up recommendations on audit results.

Brief Report on the Implementation of the Internal Audit Unit's 2019 DutiesIn carrying out its duties, the Internal Audit Function has a 2019 Annual Audit Work Program (PKAT) prepared using a risk based audit approach. PKAT 2019 was submitted to the Audit Committee and the President Director for approval. The following is an overview of Audit activities in 2019:

Audit Findings in 2019The results of the audit are contained in the Audit Report (LHA) which includes the recommendation of the auditor on the findings of the audit. These recommendations must be followed up by the auditee in accordance with the specified time. Follow-up monitoring is carried out by the auditor on a regular basis. If the follow-up is still not done then the status will be "open" and the auditee is asked to provide a progress report.

COMPETENCY DEVELOPMENT OF INTERNAL CONTROL UNIT

The Company facilitates the implementation of development programs for Internal Audit in order to improve employee competencies. The program is expected to have a positive impact on productivity and effectiveness of Internal Audit performance.

Concerning competency improvement activities that have been participated in by SPI throughout 2019, can be seen in the Company Profile chapter in this annual report.



Akuntan publik merupakan organ eksternal Perseroan yang berfungsi memberikan opini terkait kesesuaian penyajian laporan keuangan Perseroan terhadap Standar Akuntansi Keuangan (SAK) yang berlaku di Indonesia. Keberadaan akuntan publik diatur melalui Peraturan OJK No. 13/POJK.03/2017 tentang Penggunaan Jasa Akuntan Publik dan Kantor Akuntan Publik dalam Kegiatan Jasa Keuangan.

KEPATUHAN TERHADAP STANDAR AKUNTANSI KEUANGAN INDONESIA

Manajemen bertanggung jawab terhadap penyajian laporan keuangan Perseroan dan patuh terhadap SAK yang berlaku di Indonesia yang ditetapkan oleh Ikatan Akuntan Indonesia (IAI) dan Keputusan Ketua Badan Pengawas Pasar Modal Lembaga Keuangan (Bapepam-LK) yang sekarang menjadi Otoritas Jasa Keuangan (OJK) No. VIII.G.7, Lampiran Surat Keputusan No. KEP-347/BL/2012, tanggal 25 Juni 2012 tentang Pedoman Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik.

PROSEDUR AUDIT EKSTERNAL DAN STANDAR AUDIT1. Audit atas laporan keuangan Perseroan dilakukan sesuai

dengan standar profesional Akuntan Publik yang mencakup seluruh prosedur audit yang dipandang perlu sesuai dengan keadaan.

2. Audit meliputi pengujian dan evaluasi terhadap sistem pengendalian intern, serta pemeriksaan, atas dasar pengujian, bukti-bukti yang mendukung jumlah-jumlah dan pengungkapan dalam laporan keuangan. Audit juga akan meliputi penilaian atas prinsip akuntansi yang digunakan dan estimasi signifikan yang dibuat oleh manajemen, serta penilaian atas penyajian laporan keuangan secara keseluruhan sesuai dengan Pernyataan Standar Akuntansi Keuangan (PSAK) yang dikeluarkan oleh IAI.

3. Sebagai bagian dari proses audit, Kantor Akuntan Publik (KAP) juga melakukan tanya jawab kepada manajemen mengenai pernyataan manajemen yang disajikan dalam laporan keuangan.

4. Audit mengandung risiko inheren bahwa jika terdapat kekeliruan dan ketidakberesan yang material. Jika terdapat hal tersebut, KAP akan menyampaikan kepada manajemen.

5. Manajemen menyetujui kertas kerja pemeriksaan KAP atas Perseroan untuk di-review oleh badan atau otoritas terkait.

Audit dilaksanakan berdasarkan Standar Profesional Akuntan Publik yang diterbitkan oleh Institut Akuntan Publik Indonesia (IAPI). Jika terdapat bantuan keuangan Pemerintah RI, maka audit dilaksanakan berdasarkan Standar Pemeriksaan Keuangan Negara (SPKN) yang diterbitkan oleh Badan Pengawasan Keuangan (BPK) RI.

Public accountants are the Company's external organs whose function is to provide opinions related to the suitability of the presentation of the Company's financial statements with the Financial Accounting Standards (SAK) in force in Indonesia. The existence of public accountants is regulated through OJK Regulation No. 13/POJK.03/2017 concerning Use of Public Accountant Services and Public Accountant Offices in Financial Services Activities.

COMPLIANCE WITH INDONESIAN FINANCIAL ACCOUNTING STANDARDS

Management is responsible for the presentation of the Company's financial statements and in compliance with Indonesian GAAPs as determined by the Indonesian Institute of Accountants (IAI) and Decision of the Chairman of the Financial Institution Capital Market Supervisory Agency (Bapepam-LK) which is now the Financial Services Authority (OJK) No. VIII.G.7, Attachment to Decree No. KEP-347 /BL/2012 dated June 25, 2012 concerning Guidelines for the Presentation and Disclosure of Financial Statements of Issuers or Public Companies

EXTERNAL AUDIT PROCEDURES AND AUDIT STANDARDS

1. Audits of the Company's financial statements are conducted in accordance with the professional standards of the Public Accountant which covers all audit procedures deemed necessary in accordance with the circumstances.

2. The audit includes testing and evaluating the internal control system, as well as checking, on the basis of testing, evidence supporting the amounts and disclosures in the financial statements. The audit will also include an assessment of the accounting principles used and significant estimates made by management, as well as an evaluation of the presentation of the overall financial statements in accordance with the Statement of Financial Accounting Standards (PSAK) issued by IAI.

3. As part of the audit process, the Public Accounting Firm (KAP) also conducts questions and answers to management regarding management statements presented in the financial statements.

4. Audit carries an inherent risk that if there are material errors and irregularities. If there is this, the KAP will submit it to management.

5. Management approved the KAP inspection work paper on the Company for review by the relevant agency or authority.

The audit was conducted based on the Professional Standards of Public Accountants issued by the Indonesian Institute of Certified Public Accountants (IAPI). If there is financial assistance from the Government of the Republic of Indonesia, the audit is carried out based on the State Financial Examination Standards (SPKN) issued by the Indonesian Financial Supervisory Agency (BPK).

AKUNTAN PUBLIKPublic Accountant


MEKANISME PENUNJUKAN AKUNTAN PUBLIKTahapan mekanisme penunjukan KAP:1. Keputusan RUPS Tahunan2. Rekomendasi dari Komite Audit Perseroan3. Keputusan Dewan Komisaris Perseroan atas Penunjukan

Kantor Akuntan Publik

AKUNTAN PUBLIK TAHUN 2019Berdasarkan Keputusan RUPS Tahunan tanggal 11 April 2019 Perseroan telah menyetujui untuk mendelegasikan kewenangan kepada Dewan Komisaris Perseroan untuk menunjuk Akuntan Publik Independen dari Kantor Akuntan Publik (KAP) untuk untuk melakukan pemeriksaan atas Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2019 berikut besaran nilai jasanya, sesuai ketentuan dan peraturan yang berlaku, termasuk untuk menunjuk KAP pengganti bilaman karena sebab apapun juga berdasarkan ketentuan Pasar Modal di Indonesia apabila KAP yang ditunjuk tidak dapat melakukan tugasnya, dengan kriteria bahwa:1. KAP tersebut terdaftar di Otoritas Jasa Keuangan.2. KAP tersebut dalam afiliasi KAP empat besar (Big Four) di

dunia

Penunjukan KAP Purwantono, Sungkoro dan Surja telah diperkuat melalui Surat Keputusan Dewan Komisaris Nomor L9.014C-2019.041 Untuk menjamin independensi dan kualitas hasil pemeriksaan, Auditor Eksternal yang ditunjuk tidak boleh memiliki benturan kepentingan dengan Perseroan.

Akuntan Publik Tahun 20192019 Public Accountant

Kantor Akuntan PublikPublic Accountant Firm

: Purwantono, Sungkoro dan SurjaPurwantono, Sungkoro and Surja

Nomor Surat Tanda TerdaftarRegistered Letter Number

: STTD.KAP-03/PM.22/2018

AkuntanAccountant

: Sinarta

Nomor Registrasi dari Menteri Keuangan Registration Number and Minister of Finance

: AP.0701

Tahun AuditAudit Year

: Tahun Buku 20192019 Fiscal Year

Periode PenugasanAssignment Period

: 2

JasaServices

: Audit umum atas Laporan Keuangan Konsolidasian tahun buku 2019General Audit of the 2019 Consolidated Financial Statements for the year

Jasa LainnyaOther Services

: -

BiayaCost

: Rp2.200.000.000,-

Laporan keuangan Elnusa hingga periode 31 Desember 2019 telah diaudit oleh Kantor Akuntan Publik (KAP) Purwantono, Sungkoro dan Surja. Dari hasil audit tersebut, KAP Purwantono, Sungkoro dan Surja memberikan opini “audit wajar tanpa modifikasian” yang telah disampaikan kepada Direksi.

THE MECHANISM OF PUBLIC ACCOUNTANT APPOINTMENTStages of the mechanism for the appointment of KAP:1. Annual GMS Decision2. Recommendations from the Company's Audit Committee3. Decision of the Company's Board of Commissioners on

Appointment Public accounting firm

PUBLIC ACCOUNTANT OF 2019Based on the Resolution of the Annual General Meeting of Shareholders on April 11, 2019, the Company has agreed to delegate authority to the Company's Board of Commissioners to appoint an Independent Public Accountant from the Public Accounting Firm (KAP) to conduct an audit of the Company's Financial Statements for the fiscal year ending on December 31, 2019 along with the value of services, in accordance with applicable rules and regulations, including to appoint a substitute KAP for any time due to any reason whatsoever based on the provisions of the Capital Market in Indonesia if the appointed KAP cannot perform its duties, with the criteria that:1. The KAP is registered with the Financial Services Authority.2. The KAP is in the Big Four affiliates (Big Four) at World

The appointment of KAP Purwantono, Sungkoro and Surja has been strengthened through the Decree of the Board of Commissioners No. L9.014C-2019.041 To guarantee the independence and quality of the results of examinations, the appointed External Auditor may not have a conflict of interest with the Company.

Elnusa's financial statements as of December 31, 2019 have been audited by the Public Accounting Firm (KAP) Purwantono, Sungkoro & Surja. From the results of the audit, KAP Purwantono, Sungkoro & Surja provided an opinion on "fair audit without modification" that was submitted to the Directors.



DAFTAR AKUNTAN PUBLIKGuna kebutuhan transparansi, berikut disampaikan daftar Kantor Akuntan Publik, Akuntan dan biaya yang diberikan dalam mengaudit laporan keuangan Perseroan untuk periode 6 (enam) tahun terakhir.

Daftar Akuntan Publik 2014-2019List of Public Accountants 2014-2019

Tahun BukuFiscal Year

Kantor Akuntan PublikPublic accounting firm

AkuntanAccountant

JasaServices

Jasa LainnyaOther Services

Biaya JasaService Fee

2019 KAP Purwantono, Sungkoro dan SurjaPublic Accounting Firm (KAP) Purwantoro, Sungkoro and Surja

Sinarta Audit umum atas Laporan Keuangan Konsolidasian tahun buku 2019General audit of the Consolidated Financial Statements fiscal year 2019

- Rp2.200.000.000,-


Sinarta Audit umum atas Laporan Keuangan Konsolidasian tahun buku 2018General audit of the Consolidated Financial Statements fiscal year 2018

- Rp2.000.000.000,-


Moch. Dadang Syachruna

Audit umum atas Laporan Keuangan Konsolidasiantahun buku 2017General audit of the Consolidated Financial Statements fiscal year 2017

- Rp2.984.000.000,-

2016 per 31 Desember2016 as of December 31

KAP Purwantono, Sungkoro dan SurjaPublic Accounting Firm (KAP) Purwantoro, Sungkoro and Surja

Widya Arijanti

Audit umum atas Laporan Keuangan Konsolidasian tahun buku 2016General audit of the Consolidated Financial Statements fiscal year 2016

- Rp1.900.000.000,-

2016 per 30 Juni2016 as of June 30

Rp1.850.000.000,-


Moch. Dadang Syachruna


- Rp2.590.312.000,-

2014 KAP Tanudiredja, Wibisana & Rekan (affiliated with PWC)Public Accounting Firm (KAP) Tanudiredja, Wibisana & Partners(affiliated with PWC)

Yusron Fauzan, SE., Ak., CPA


- Rp3.150.000.000,-

PUBLIC ACCOUNTANT LISTFor transparency needs, the following is a list of public accounting firms, accountants and fees provided in auditing the Company's financial statements for the past 6 (six) years.


MANAJEMEN RISIKORisk Management

Elnusa sebagai perusahaan yang bergerak pada jasa minyak dan gas yang mana kegiatan operasinya dihadapkan dengan sejumlah risiko, yang di antaranya diluar kendali Perseroan dan dapat mempengaruhi kelangsungan usahanya jika tidak dikelola dengan bijaksana. Proses tata kelola manajemen risiko di dalam Perseoran dirancang untuk menentukan tingkat risiko yang bersedia diambil oleh Perseroan dalam mengejar tujuan strategis dan untuk memberikan tingkat kepastian yang lebih tepat dalam setiap risiko yang Perseroan ambil. Penerapan Enterprise Risk Management (ERM) membantu dalam melakukan pendekatan secara sistematis dalam mengidentifikasi dan mengelola risiko-risiko kompleks Perseroan, anak perusahaan, unit bisnis dan departemen atau divisi. Sebagai bagian dari proses ERM, Perseroan melakukan pengkajian ulang secara berkala terhadap sejumlah risiko yang ada.

As a company engaged in oil and gas services, Elnusa’s operations are faced with a number of risks, some of which are outside the Company's control and can affect its business continuity if not managed wisely. The risk management governance process in the Company is designed to determine the level of risk that the Company is prepared to take in pursuing strategic objectives and to provide a more precise level of certainty in each risk that the Company takes. The implementation of Enterprise Risk Management (ERM) helps in carrying out a systematic approach in identifying and managing complex risks of the Company, its subsidiaries, business units and departments or divisions. As part of the ERM process, the Company conducts periodic reviews of a number of risks.



PROGRAM KERJA MANAJEMEN RISIKO TAHUN 2020

Penerapan Manajemen Risiko di Elnusa telah berjalan secara memadai yang ditunjang dengan struktur dan infrastruktur, pengawasan manajemen, peran, tanggung jawab dan akuntabilitas organisasi untuk mendorong pengembangan penerapan manajemen risiko berdasarkan prinsip berkelanjutan (going concern) yaitu pertumbuhan dan kelanggengan (growth and sustainability).

Selanjutnya pada tahun 2020, Elnusa memiliki program kerja untuk penyempurnaan proses manajemen risiko. Tindakan penyempurnaan proses berperan untuk melakukan koreksi terhadap langkah-langkah yang dinilai belum cukup efektif. Salah satu rencana penyempurnaan proses manajemen adalah melakukan proses kepatuhan dalam proses manajemen risiko, yaitu memasukkan ikhtisar profil risiko ke dalam dokumen Feasibility Study investasi/proyek pada sesi Manajemen Risiko. Fungsi Pengusul (Inisiator) “wajib” memintakan kajian kepada Fungsi Risk Management atas dokumen Feasibility Study investasi yang telah disusun untuk memastikan aktivitas Perusahaan telah sesuai dengan prinsip kehati-hatian praktik tata kelola risiko yang sehat.

Risk Management Implementation

Preliminary studyFeasibility study/

conceptual engineering

Preparation and implementation/

constructionSelection Process

Preparation and implementation/

construction

Risk Register by Risk Owner

Update Risk Profile on Risk Register quarterly by Risk

Owner

Update Risk Profile on Corporate Level semi annually by

RJPP & RAKP

Consolidate Risk Profile from all

function

Semi Annually Risk Profile

Quaterly Report of Elnusa Risk Profile

Conduct Review Project by RM Function Unit

Risk Monitoring by RM Function Unit

Risk Register & Project Document

approve by VP Project Owner

Risk Register Functions

Compliance Summary Review

endorse by Finance Director

Existing (Routine) Activities

VS

Risk Profile on Corporate Level

Risk Management Process

RISK MANAGEMENT WORK PROGRAM IN 2020

The implementation of Risk Management in Elnusa has been running adequately supported by structure and infrastructure, management supervision, roles, responsibilities and accountability of the organization to encourage the development of risk management based on the going concern principle, namely growth and sustainability.

Furthermore, in 2020, Elnusa has a work program to improve the risk management process. The act of refining the process has a role to make corrections to the steps considered not effective enough. One plan to improve the management process is to carry out a compliance process in the risk management process, which includes an overview of the risk profile in the investment/project Feasibility Study document in the Risk Management session. The “mandatory” function of the Initiator asks for a review of the Risk Management Function on investment Feasibility Study documents that have been prepared to ensure the Company's activities are in accordance with the prudential principles of sound risk management practices.


PENERAPAN MANAJEMEN RISIKO

Kemampuan Elnusa dalam mencapai target bisnis dan bertahan dalam lingkungan bergantung pada bagaimana Elnusa menanggapi sejumlah risiko yang timbul. Secara internal, Elnusa memantau dan memitigasi risiko yang lebih komprehensif melalui risk register, yang akan terus menjadi perangkat penting dalam proses manajemen risiko. Elnusa akan tetap mempertimbangkan lingkungan eksternal dan internal untuk mengevaluasi perubahan dalam model kompetisi dan bisnis.

PENGAWASAN AKTIF DEWAN KOMISARIS DAN DIREKSI

Dalam melaksanakan fungsi pengawasan atas penerapan manajemen risiko di Perseroan, Dewan Komisaris memiliki tugas dan tanggung jawab yang jelas, di antaranya mengawasi pelaksanaan fungsi manajemen risiko berlangsung sesuai kebijakan yang ditetapkan, memberikan arahan strategis untuk meningkatkan kualitas dan efektivitas fungsi manajemen risiko, serta mereview dan menyetujui rekomendasi dari Komite Manajemen Risiko dalam kaitannya dengan:1. Menciptakan konteks manajemen risiko, terutama dalam

merumuskan risk appetite dan risk tolerance.2. Mendisain struktur organisasi dan merumuskan tugas pokok

dan fungsi manajemen risiko Perusahaan.3. Persetujuan transaksi yang melampaui kewenangan pejabat

satu level di bawah Direksi atau transaksi yang memerlukan persetujuan sesuai dengan kebijakan dan prosedur intern yang berlaku.

Dalam melaksanakan fungsi manajemen risiko, Direksi memiliki tugas dan tanggung jawab yang jelas, di antaranya: 1. Menyusun kebijakan dan strategi manajemen risiko secara

tertulis dan komprehensif.2. Bertanggung jawab atas pelaksanaan kebijakan manajemen

risiko dan eksposur risiko yang diambil oleh Perseroan secara keseluruhan.

3. Mengevaluasi dan memeutuskan transaksi yang memerlukan persetujuan Direksi

4. Mengembangkan budaya manajemen risiko pada seluruh jenjang organisasi Perseroan

5. Memastikan kompetensi sumber daya manusia yang terkait dengan manajemen risiko

6. Memastikan fungsi manajemen risiko telah beroperasi secara independent

7. Melaksanakan kaji ulang secara berkala dengan frekuensi sesuai dengan kebutuhan Perseroan untuk memastikan:a. Keakuratan metodologi manajemen risiko;b. Kecukupan implementasi sistem informasi manajemen

risiko;c. Ketepatan kebijakan, prosedur, dan penetapan limit

risiko.

IMPLEMENTATION OF RISK MANAGEMENT

Elnusa's ability to achieve business targets and survive in the environment depends on how Elnusa responds to a number of risks that arise. Internally, Elnusa monitors and mitigates risks more comprehensively through the risk register, which will continue to be an important tool in the risk management process. Elnusa will continue to consider the external and internal environment to evaluate changes in the competition and business models.

ACTIVE SUPERVISION OF THE BOARD OFCOMMISSIONERS AND DIRECTORSIn carrying out the supervisory function on the implementation of risk management in the Company, the Board of Commissioners has clear duties and responsibilities, including overseeing the implementation of the risk management function in accordance with established policies, providing strategic direction to improve the quality and effectiveness of the risk management function, as well as reviewing and approving recommendations from the Risk Management Committee in relation to:1. Creating a risk management context, especially in formulating

risk appetite and risk tolerance.2. Designing the organizational structure and formulating the

main tasks and functions of the Company's risk management.3. Transaction approval that exceeds the authority of officials

one level below the Board of Directors or transactions that require approval in accordance with applicable internal policies and procedures.

In carrying out the risk management function, the Board of Directors has clear duties and responsibilities, including:1. Develop written and comprehensive risk management

policies and strategies.2. Responsible for the implementation of risk management

policies and risk exposures taken by the Company as a whole.

3. Evaluate and decide on transactions that require the approval of the Board of Directors

4. Developing a risk management culture at all levels of the Company's organization

5. Ensuring human resource competencies related to risk management

6. Ensuring that the risk management function operates independently

7. Conduct periodic review with frequency in accordance with the needs of the Company to ensure:a. The accuracy of the risk management methodology;b. Adequacy of risk management information system

implementation;c. Accuracy of policies, procedures and determination

of risk limits.



ADEQUACY OF POLICIES, PROCEDURES, AND DETERMINATION OF RISK MANAGEMENT LIMITSThe Company has an adequate policies, procedures and limits for the application of an effective, efficient and professional risk management framework for 7 (seven) main types of risks, namely:

1. Legal, Governance and Compliance Risk, including Legal, Governance and Compliance.

2. Strategic Risk, including Growth & Sustainability, Strategy and Planning.

3. Financial Risk Management, including Financial Operations, Accounting, Financial Strategy and Taxation.

4. Operational Risk, including Exploration, Development & Production, Operational Excellence, Supply Chain Process, Sales & Marketing, Processing, Transportation & Distribution, Information Technology, Human Resources, Asset Management, and HSSE.

5. Business Environment Risk, including Technology, Culture, Economics, Market, Government, and Social Politics.

6. Corporate Image Risk, including Brand Image and Stakeholder Management.

7. Investment Risk, including Business, Technical, Management, Commercial, External and HSSE.

Policies, procedures and determination of risk limits are documented and reviewed periodically according to internal and external developments. Adequacy of the Risk Identification, Measurement, Monitoring and Control Process and Risk Management Information System.

The Company has the infrastructure to identify, measure, monitor and control risks that are supported by an adequate management information system that is able to support the overall risk management function.

To anticipate potential risks in the future, by forward looking, the Company develops an emerging risk approach as an early warning mechanism to identify various potential risks that the Company may face in the foreseeable future.

Through the emerging risk approach, the Company is able to identify potential risks in accordance with the profile of the Company's business characteristics, both in the form of severity of material impact and the estimated time of occurrence of these risks (imminence) in the future, so that the Company is able to take various actions needed to mitigate and control these potential risks.

KECUKUPAN KEBIJAKAN, PROSEDUR, DANPENETAPAN LIMIT MANAJEMEN RISIKOPerseroan telah memiliki kebijakan, prosedur dan penetapan limit yang memadai untuk penerapan kerangka kerja manajemen risiko yang efektif, efisien dan profesional terhadap 7 (tujuh) jenis risiko utama yaitu:1. Legal, Governance dan Compliance Risk, meliputi Legal,

Governance dan Compliance.2. Strategic Risk, meliputi Growth & Sustainability, Strategy

dan Planning. 3. Financial Management Risk, meliputi Financial Operation,

Accounting, Financial Strategy dan Taxation. 4. Operational Risk, meliputi Exploration, Development

& Production, Operational Excellence, Supply Chain Process, Sales & Marketing, Processing, Transportation & Distribution, Information Technology, Human Resources, Asset Management, dan HSSE.

5. Business Environment Risk, meliputi Technology, Culture, Economics, Market, Government, dan Social Politics.

6. Corporate Image Risk, meliputi Brand Image dan Stakeholder Management.

7. Investment Risk, meliputi Business, Technical, Management, Commercial, External dan HSSE.

Kebijakan, prosedur dan penetapan limit risiko didokumentasikan, dan ditinjau secara berkala disesuaikan dengan perkembangan internal maupun eksternal. Kecukupan Proses Identifikasi, Pengukuran, Pemantauan, dan Pengendalian Risiko serta Sistem Informasi Manajemen Risiko.

Perseroan telah memiliki infrastruktur untuk mengidentifikasi, mengukur, memantau, dan mengendalikan risiko yang didukung dengan sistem informasi manajemen yang cukup memadai dan mampu mendukung fungsi manajemen risiko secara menyeluruh.

Untuk mengantisipasi potensi risiko dimasa mendatang, secara forward looking, Perseroan mengembangkan pendekatan emerging risk sebagai mekanisme early warning untuk mengidentifikasi berbagai potensi risiko yang mungkin akan dihadapi oleh Perseroan dalam beberapa waktu mendatang.

Melalui pendekatan emerging risk tersebut, Perseroan mampu mengidentifikasi potensi risiko sesuai dengan profil karakteristik bisnis Perseroan, baik berupa besaran dampak risiko (severity of material impact) maupun perkiraan waktu terjadinya risiko tersebut (imminence) di waktu mendatang, sehingga Perseroan mampu melakukan berbagai tindakan yang diperlukan untuk memitigasi dan mengendalikan potensi risiko tersebut.


The Risk Management Unit carries out the process of identifying, measuring, monitoring risks and cooperating with all business units and supporting units carrying out the process of risk control and mitigation and building a comprehensive risk management information system.

RISK MANAGEMENT ORGANIZATION AND GOVERNANCETo manage various types of risks inherent to the Company in accordance with the complexity of the current business activities and the company's products/services, the Company has a Risk Management work unit in the organizational structure that is responsible in accordance with its role. In addition to being responsible in carrying out the risk management function independently, Risk Management also cooperates and partners with all business units and supporting units, starting from the strategic level to the transaction level in order to establish the process of identification, measurement, monitoring, risk control and systems comprehensive information and internal control system. In carrying out effective risk management, the Directors are assisted by a risk management committee. Meanwhile, overall organizational oversight is carried out by the Board of Commissioners as shown in the organizational structure below.

Risk Management Unit melakukan proses identifikasi, pengukuran, pemantauan risiko dan bekerja sama dengan seluruh unit bisnis dan unit pendukung melakukan proses pengendalian dan mitigasi risiko dan membangun sistem informasi manajemen risiko yang menyeluruh.

ORGANISASI DAN TATA KELOLA MANAJEMEN RISIKOUntuk mengelola berbagai jenis risiko yang melekat pada Perseroan sesuai dengan kompleksitas kegiatan usaha yang dijalankan saat ini dan produk/jasa perseroan, Perseroan telah memiliki unit kerja Manajemen Risiko pada struktur organisasi yang bertanggung jawab sesuai dengan perannya. Selain bertanggung jawab dalam menjalankan fungsi tata kelola manajemen risiko secara independen, Risk Management juga bekerja sama dan bermitra dengan seluruh unit bisnis dan unit pendukung, mulai dari level strategis sampai dengan level transaksi dalam rangka membangun proses identifikasi, pengukuran, pemantauan, pengendalian risiko dan sistem informasi serta sistem pengendalian intern yang menyeluruh. Dalam melaksanakan manajemen risiko yang efektif, Direksi dibantu oleh komite manajemen risiko. Sementara itu, pengawasan organisasi secara keseluruhan dilakukan oleh Dewan Komisaris sebagaimana terlihat pada struktur organisasi di bawah ini.

KomisarisBoard of Commissioners

Direktur Keuangan Director of Finance

Unit Kerja Manajemen RisikoRisk Management Work Unit




RISK MANAGEMENT

Elnusa's risk profile as a company (corporate risks) seen in the context of its relationship with the external and internal environment is explained in Figure 1. Elnusa's main risks are explained in detail in the form of tables and risk maps in the following Tables and Figures:

PENGELOLAAN RISIKO

Profil risiko Elnusa sebagai sebuah Perusahaan (corporate risks) dilihat dalam konteks hubungannya dengan lingkungan eksternal dan internal dijelaskan pada Gambar 1. Risiko-risiko utama Elnusa dijelaskan secara rinci dalam bentuk tabel dan peta risiko pada Tabel dan Gambar beriku:

INTERNAL FAILURES

President Director

• Finance• Compliace• Equipment, Assets & Infrastructure• Legal• Information Technology• Human Capital• Health, Safety & Environment

• Supply Chain• Sales & Marketing• Product/Service Development• Quality

ENTERPRISE RISK MANAGEMENT

Objective Resource

Organization

ValueStrategy

ValueStrategy

Support Function Failures President Director

EXTERNAL FAILURES

Macroeconomic

Law/Regulatory

Politics President Director

Market President Director


HASIL REVIEW YANG DILAKUKAN ATAS SISTEM MANAJEMEN RISIKO PADA TAHUN BUKU

Selama tahun 2019 pengelolaan risiko telah ditangani dengan baik dengan tetap memperhatikan dampak sosial dan lingkungan. Fokus manajemen risiko yang dilakukan oleh Unit Kerja Risk Management. Perseroan telah berupaya untuk:1. Mengelola serta mengambil langkah-langkah yang diperlukan

dalam upaya memitigasi risiko yang teridentifikasi melalui proses ERM.

2. Mengadopsi prisip dan pedoman ISO 31000:2009 sebagai kerangka kerja manajemen risiko. Perseoran telah melakukan penyesuaian dalam penerapan ISO 31000 sesuai dengan karakteristik bisnis, organisasi dan tata kelola Perusahaan sehingga dapat meningkatkan risk awareness hingga membentuk suatu budaya sadar risiko di dalam Perusahaan.

3. Meningkatkan sistem pengelolaan risiko. Perseroan melakukan peningkatan sistem, infrastruktur dan proses manajemen risiko melalui pengelolaan dan perbaikan berkelanjutan kerangka, kebijakan dan prosedur, serta instruksi kerja manajemen risiko. Peningkatan sistem yang dimaksud adalah manajemen risiko telah menjadi salah satu item Key Performance Indicator (KPI) di setiap fungsi operasi dan shared service Perseroan. Dari segi infrastruktur, semakin pesatnya perkembangan era digital mendorong Perseroan untuk melakukan digitalisasi termasuk dalam pengelolaan risiko.

Membentuk sistem yang dapat diakses secara realtime oleh Risk Owner dan mendaftarkan risiko tersebut sebagai “Risk Bank Elnusa”. Sebagai realisasi komitmen dan sasaran pengelolaan risiko, Perseroan juga akan menyusun roadmap pengembangan berkelanjutan implementasi manajemen risiko untuk memastikan Perseroan dapat mencapai rencana jangka panjangnya. Dengan peningkatan sistem pengelolaan risiko ini diharapkan budaya risiko akan membaik dan melekat di setiap insan Perseroan.

RESULTS OF THE REVIEW OF THE RISK MANAGEMENT SYSTEM AT THE CURRENT FISCAL YEAR

During 2019, risk management has been handled well with due regard to social and environmental impacts. The focus of risk management is carried out by the Risk Management Work Unit. The Company has put up effort to:1. Manage and take the steps needed in an effort to mitigate

the risks identified through the ERM process.

2. Adopt ISO 31000:2009 principles and guidelines as a risk management framework. The company has made adjustments in the application of ISO 31000 in accordance with the characteristics of business, organization and corporate governance so as to increase risk awareness to form a culture of risk awareness within the Company.

3. Improve the risk management system. The Company carries out improvements in risk management systems, infrastructure and processes through the management and continuous improvement of the framework, policies and procedures, as well as risk management work instructions. The system improvement meant is that risk management has become one of the Key Performance Indicator (KPI) items in each of the Company's operational and shared service functions. In terms of infrastructure, the increasingly rapid development of the digital era is encouraging the Company to digitize including in the risk management sector.

Establish a system that can be accessed in real time by the Risk Owner and register the risk as "Risk Bank Elnusa". As a realization of commitments and risk management objectives, the Company will also develop a roadmap for the continuous development of risk management implementation to ensure the Company can achieve its long-term plan. With the improvement of the risk management system, it is expected that the risk culture will improve and be inherent in every individual of the Company.



SISTEM PENGENDALIAN INTERNALInternal Control System

Sistem pengendalian intern adalah salah satu sarana utama untuk dapat memastikan bahwa pengelolaan perusahaan telah dilaksanakan sesuai dengan prinsip- prinsip GCG. Penerapan sistem pengendalian internal diarahkan untuk memastikan bahwa Perseroan telah memiliki suatu sistem yang handal terhadap ketaatan atas peraturan perundang-undangan, pelaporan keuangan, dan pengamanan asset.

SISTEM PENGENDALIAN KEUANGAN DAN OPERASIONALPenerapan Sistem Pengendalian Internal di lingkup Perseroan dilakukan baik oleh Dewan Komisaris maupun Direksi. Penerapan pengendalian internal yang dilakukan oleh Dewan Komisaris dilakukan dengan melakukan pengawasan dan pemberian nasihat terkait proses kecukupan dan kewajaran dalam penyusunan laporan keuangan serta pengelolaan risiko dengan memperhatikan prinsip kehati-hatian yang dibantu oleh Komite Audit dan Komite Manajemen Risiko. Sedangkan Direksi menerapkan sistem pengendalian internal melalui kebijakan dan prosedur Perseroan secara konsisten dan memenuhi kepatuhan terhadap regulasi yang berlaku, antara lain terkait dengan kegiatan operasional Perseroan dan manajemen risiko, rencana strategis, pembagian tugas, pendelegasian wewenang, serta kebijakan akuntansi yang memadai.

Direksi juga menetapkan suatu sistem pengendalian intern yang efektif untuk mengamankan investasi dan aset Perseroan. Lingkungan pengendalian intern dalam Perseroan dilaksanakan dengan disiplin dan terstruktur, integritas yang tinggi, nilai etika serta kompetensi karyawan. Untuk membantu Direksi dalam melakukan perencanaan, pengendalian, koordinasi dalam pengawasan, penilaian atas sistem pengendalian manajemen dan pelaksanaan seluruh kegiatan Perseroan serta memberikan saran-saran perbaikan dibentuk fungsi Unit Audit Internal yang dipimpin oleh Kepala Audit Internal dan bertanggung jawab kepada Direktur Utama.

The internal control system is one of the main means to ensure that the management of the company has been carried out in accordance with the principles of GCG. The implementation of the internal control system is directed to ensure that the Company has a reliable system of compliance with laws and regulations, financial reporting, and asset security.

FINANCIAL AND OPERATIONAL CONTROL SYSTEMSThe implementation of the Internal Control System within the Company's scope is carried out by both the Board of Commissioners and the Board of Directors. The implementation of internal control carried out by the Board of Commissioners is carried out by supervising and providing advice related to the adequacy and fairness process in the preparation of financial statements and risk management by taking into account the prudential principles that are assisted by the Audit Committee and the Risk Management Committee. Whereas the Board of Directors implements an internal control system through the Company's policies and procedures consistently and meets compliance with applicable regulations, among others related to the Company's operational activities and risk management, strategic plans, division of tasks, delegation of authority and adequate accounting policies.

The Board of Directors also establishes an effective internal control system to secure the Company's investments and assets. The internal control environment within the Company is carried out with discipline and structure, high integrity, ethical values and employee competence. To assist the Board of Directors in planning, controlling, coordinating in supervision, evaluating the management control system and carrying out all activities of the Company as well as providing suggestions for improvement, the Internal Audit Unit function is led by the Head of Internal Audit and reports to the President Director.


KESESUAIAN SISTEM PENGENDALIAN INTERN PERUSAHAAN DENGAN KERANGKA YANG DIAKUI SECARA INTERNASIONAL

Perseroan memiliki sistem pengendalian intern yang sesuai dengan kerangka kerja yang diakui secara internasional, yakni Committee of Sponsoring Organization of the Treadway Commission (COSO). Menurut COSO sistem pengendalian intern merupakan proses yang melibatkan Dewan Komisaris, Direksi, serta personil lainnya. Hal ini sejalan dengan sistem pengendalian intern yang ada di Perusahaan yang terus berupaya meningkatkan sistem kontrol organisasi dengan melibatkan seluruh sumber daya yang ada.

EVALUASI EFEKTIVITAS SISTEM PENGENDALIAN INTERNAL

Pengendalian internal merupakan bagian yang terintegrasi dalam sistem dan prosedur di setiap kegiatan pada unit kerja sehingga apabila terjadi penyimpangan maka dapat diketahui secara dini dan dilakukan langkah perbaikan oleh unit kerja yang bersangkutan. Review dan evaluasi terhadap efektivitas sistem pengendalian internal dilakukan pada tingkat entitas dan operasional. Review dan evaluasi atas efektivitas Sistem Pengendalian Internal dilakukan secara berkala oleh auditor Internal maupun eksternal sesuai prosedur audit yang berlaku.

Perseroan melakukan evaluasi atau penilaian atas efektivitas pengendalian internal pada tingkat korporat maupun tingkat operasional dengan menerapkan dan memelihara sistem pengendalian internal dan prosedur pelaporan keuangan yang memadai sesuai ketentuan berlaku melalui fungsi internal audit dan Manajemen risiko.

THE CONFORMITY OF THE COMPANY'S INTERNAL CONTROL SYSTEM WITH THE INTERNATIONALLY RECOGNIZED FRAMEWORKThe Company has an internal control system that is in line with an internationally recognized framework, namely the Committee of Sponsoring Organizations of the Treadway Commission (COSO). According to COSO the internal control system is a process that involves the Board of Commissioners, Directors, and other personnel. This is in line with the existing internal control system in the Company which continues to improve the organization's control system by involving all available resources.

EVALUATION OF THE EFFECTIVENESS OFINTERNAL CONTROL SYSTEMSInternal control is an integrated part of the system and procedures in every activity in the work unit so that if deviations occur, they can be known early and corrective steps are taken by the relevant work unit. A review and evaluation of the effectiveness of the internal control system is carried out at the entity and operational level. Reviews and evaluations of the effectiveness of the Internal Control System are conducted periodically by internal and external auditors in accordance with applicable audit procedures.

The Company evaluates or evaluates the effectiveness of internal control at the corporate level and operational level by implementing and maintaining an adequate internal control system and financial reporting procedures in accordance with applicable regulations through the internal audit and risk management functions.



PERKARA PENTINGImportant Matters

PERMASALAHAN HUKUM

Pada tahun 2019, terdapat perkara atau gugatan hukum oleh Perseroan sebagai berikut:

No. PerkaraCase

PengadilanCourt

Posisi PerseroanCompany’s Position

Materi PerkaraCase Material

Status PerkaraCase Status

Kuasa HukumAttorney

1. Perkara gugatan Perseroan terhadap PT Bank Mega Tbk (“Tergugat”). No. Perkara: 284/PDT.G/2011/PN.JKT.SEL. Tanggal 18 Mei 2011.

Pengadilan Negeri Jakarta Selatan.

Penggugat. Gugatan perbuatan melawan hukum yang ditujukan kepada Bank Mega sehubungan penempatan dana deposito berjangka milik Perseroan di Bank Mega. Perseroan menuntut ganti rugi agar Bank Mega mengembalikan dana deposito berjangka Perseroan berikut bunganya.

Majelis Hakim Pengadilan Negeri Jakarta Selatan telah mengeluarkan Putusan No.284/PDT.G/2011/PN.JKT.SEL. tanggal 22 Maret 2012, dalam Putusan tersebut Majelis Hakim Pengadilan Negeri Jakarta Selatan memutuskan dalam amar putusannya antara lain sebagai berikut:1. Menolak eksepsi Tergugat;2. Mengabulkan gugatan Penggugat untuk

sebagian;3. Menyatakan Penggugat beritikad baik;4. Menyatakan penempatan deposito

berjangka yang dilakukan oleh Penggugat sebesar Rp.111.000.000.000,- pada tergugat adalah sah mempunyai kekuatan hukum;

5. Menyatakan secara hukum bahwa Tergugat telah melakukan perbuatan melawan hukum;

6. Menyatakan sah dan berharga sita jaminan terhadap benda tidak bergerak (Consenvatoir Beslag) milik Tergugat yang dilakukan oleh Pengadilan Negeri Jakarta Selatan pada tanggal 21 Juli 2011;

7. Menghukum Tergugat untuk membayar ganti kerugian materiil kepada Penggugat secara tunai yakni pencairan dana deposito pokok sebesar Rp.111.000.000.000,- dan bunga 6% per tahun terhadap Deposito Berjangka tersebut terhitung sejak tanggal gugatan perkara ini didaftarkan hingga Tergugat melakukan penggantian kerugian;

8. Memerintahkan Tergugat untuk melaksanakan putusan ini;

9. Menghukum Tergugat untuk membayar biaya perkara.

MR & Partners

Address:Grand Wijaya Centre Blok B No. 8-9 Jl. Wijaya II, Kebayoran Baru, Jakarta Selatan - 12160

Contact Person:DR. Dodi S. Abdulkadir, BSc, SE, S.H., MHT. +62 21 726 8378

LAW-RELATED PROBLEMS

There was legal problems faced by the Company in 2019 compared to 2018 are as follows:


No. PerkaraCase

PengadilanCourt




Kuasa HukumAttorney

Tergugat yakni Bank Mega mengajukan upaya hukum Banding terhadap Putusan Pengadilan Negeri Jakarta Selatan, kemudian pada tanggal 11 Mei 2012, Perseroan selaku Terbanding telah mengajukan Kontra Memori Banding kepada Pengadilan Tinggi DKI Jakarta.Pada tanggal 10 Januari 2013, Pengadilan Tinggi DKI Jakarta telah memutuskan dengan putusan No. 237/Pdt/PT.DKI jo. No. 284/PDT.G/2011/PN.JKT.SEL dimana Pengadilan Tinggi DKI Jakarta menguatkan putusan Pengadilan Negeri Jakarta Selatan No. 284/PDT.G/2011/ PN.JKT.SEL tanggal 22 Maret 2012Atas putusan Pengadilan Tinggi tersebut, Tergugat yakni Bank Mega mengajukan Kasasi ke Mahkamah Agung dan telah mengajukan Memori Kasasi pada tanggal 13 Maret 2013 dan pada tanggal 26 Maret 2013 Elnusa mengajukan Kontra Memori Kasasi ke MA melalui Pengadilan Negeri Jakarta Selatan. Pada tanggal 12 Februari 2014 Mahkamah Agung telah memutuskan dengan Putusan Nomor 1111 K/PDT/ 2013 dimana Mahkamah Agung menolak permohonan kasasi Bank Mega.terhadap Putusan Kasasi, pada tanggal 25 Maret 2015 Bank Mega mengajukan upaya hukum Peninjauan Kembali ke Mahkamah Agung dan telah mengajukan Memori Peninjauan Kembali pada tanggal 25 Maret 2015 dan pada tanggal 25 Mei 2015 Elnusa mengajukan Kontra Memori Peninjauan Kembali ke MA melalui Pengadilan Negeri Jakarta Selatan.Pada tanggal 31 Maret 2016 Elnusa mengajukan permohonan lelang eksekusi atas dua bidang tanah milik Bank Mega berdasarkan Penetapan Ketua Pengadilan Negeri Jakarta Selatan No. 10/Eks.Pdt/2016 jo. No. 284/Pdt.G/2011/PN.Jkt.Sel. tanggal 12 April 2016 dan saat ini masih dalam proses di Pengadilan Negeri Jakarta Selatan.



No. PerkaraCase

PengadilanCourt




Kuasa HukumAttorney

1. Company lawsuit case against PT Bank Mega Tbk ("Defendant"). No. Case: 284/PDT.G/2011/PN.JKT.SEL. May 18, 2011.

South Jakarta District Court.

Plaintiff. Lawsuit against the law directed at Bank Mega in connection with the placement of the Company's time deposit funds at Bank Mega. The Company demands compensation so that Bank Mega returns the Company's time deposit funds along with the interest.

The South Jakarta District Court Panel of Judges issued Decision No.284/PDT.G/2011/PN.JKT.SEL. dated March 22, 2012, in this decision the Panel of Judges of the South Jakarta District Court decided in its ruling the following decisions:1. Refused the Defendant's exception;2. Granted the Plaintiff's claim in part;3. Declared the Plaintiff in good faith;4. Stated that the placement of time deposits

made by the Plaintiff in the amount of Rp111,000,000,000, - to the defendant is legally valid;

5. Declared legally that the Defendant has committed an illegal act;

6. Stated the legal and valuable seizure of Consenvatoir Beslag owned by the Defendant conducted by the South Jakarta District Court on July 21, 2011;

7. Sentenced the Defendant to pay material damages to the Plaintiff in cash, namely the disbursement of the principal deposit funds in the amount of Rp111,000,000,000, and 6% interest per year on the Time Deposit from the date the lawsuit was registered until the Defendant made compensation;

8. Ordered the Defendant to carry out this decision;

9. Punished the Defendant to pay the court fee.

Defendant namely Bank Mega filed an appeal against the Decision of the South Jakarta District Court, then on May 11, 2012, the Company as the Appelle has filed a Counter-Appeal Memory to the DKI Jakarta High Court.

On January 10, 2013, the DKI Jakarta High Court has ruled with decision No. 237/Pdt/PT.DKI jo. No. 284/PDT.G/2011/PN.JKT.SEL where the DKI Jakarta High Court upheld the decision of the South Jakarta District Court No. 284/PDT.G/2011/PN.JKT.SEL on March 22, 2012

Based on the decision of the Court of Appeal, the Defendant, Bank Mega, submitted an appeal to the Supreme Court and filed a Memorandum of Cassation on March 13, 2013 and on March 26, 2013 Elnusa submitted an Appeal of Cassation Memory to the Supreme Court through the South Jakarta District Court.

MR & Partners

Address:Grand Wijaya Centre Blok B No. 8-9 Jl. Wijaya II, Kebayoran Baru, Jakarta Selatan - 12160

Contact Person:DR. Dodi S. Abdulkadir, BSc, SE, S.H., MHT. +62 21 726 8378

On February 12, 2014 the Supreme Court ruled with Decision No. 1111 K/PDT/2013 in which the Supreme Court rejected Bank Mega's appeal.

With regard to the Cassation Decision, on March 25, 2015 Bank Mega submitted a legal review effort to the Supreme Court and submitted a Judicial Review Memorandum on March 25, 2015 and on May 25, 2015 Elnusa submitted a Counter Judicial Review Memorandum to the Supreme Court through the South Jakarta District Court.

On March 31, 2016 Elnusa submitted a request for an auction on the execution of two plots of land belonging to Bank Mega based on the Decree of the Chairperson of the South Jakarta District Court No. 10/Eks.Pdt/2016 jo. No. 284/Pdt.G/2011/PN.Jkt.Sel. April 12, 2016 and is currently in process at the South Jakarta District Court.


DAMPAK PERMASALAHAN HUKUM TERHADAP PERUSAHAANBahwa terhadap perkara hukum yang dihadapi oleh Perseroan, oleh karena Perseroan masih melakukan upaya hukum maka perkara hukum tersebut di atas sampai saat ini belum mempengaruhi operasional Perseroan.

PENGUNGKAPAN PERMASALAHAN HUKUM YANG SEDANG DIHADAPI DEWAN KOMISARIS DAN DIREKSI YANG SEDANG MENJABATSelama periode tahun 2019, tidak ada anggota Dewan Komisaris maupun Direksi Perseroan yang sedang menjabat, memiliki permasalahan hukum, baik perdata maupun pidana.

PENGUNGKAPAN PERMASALAHAN HUKUM YANG SEDANG DIHADAPI ANAK PERUSAHAANSelama periode tahun 2019, tidak terdapat permasalahan hukum yang dihadapi oleh Anak Perusahaan Elnusa baik perdata maupun pidana.

PENGUNGKAPAN SANKSI ADMINISTRASIOLEH OTORITAS TERKAITSelama tahun 2019, tidak terdapat sanksi administratif material yang mempengaruhi kelangsungan usaha Perseroan dan juga tidak terdapat sanksi administratif yang dikenakan kepada Perseroan sebagai organisasi, entitas anak, anggota Direksi maupun anggota Dewan Komisaris oleh Otoritas terkait.

PERKARA PENTING DI LUAR ASPEK HUKUMDi sepanjang tahun 2019, Perseroan tidak menemukan adanya perkara penting di luar aspek hukum yang melibatkan Perseroan sebagai organisasi, entitas anak, Dewan Komisaris maupun Direksi.

IMPACT OF LEGAL PROBLEMS ON THE COMPANYWhereas the legal cases faced by the Company, because the Company is still conducting legal efforts, the aforementioned legal cases have not yet affected the Company's operations.

DISCLOSURE OF LEGAL ISSUES THAT ARE BEING FACED BY THE BOARD OF COMMISSIONERS AND DIRECTORS CURRENTLY IN OFFICEDuring the 2019 period, there were no members of the Board of Commissioners and Directors of the Company currently in office, having legal problems, both civil and criminal.

DISCLOSURE OF LEGAL ISSUES BEING FACED BY A SUBSIDIARY

During the 2019 period, there were no legal problems faced by Elnusa Subsidiaries, both civil and criminal.

DISCLOSURE OF ADMINISTRATIVE SANCTIONS BY RELATED AUTHORITIESDuring 2019, there were no material administrative sanctions that affected the continuity of the Company's business and there were also no administrative sanctions imposed on the Company as an organization, subsidiary entity, members of the Board of Directors or members of the Board of Commissioners by the relevant authorities.

IMPORTANT CASES OUTSIDE THE LEGAL ASPECTThroughout 2019, the Company did not find any important cases outside the legal aspects involving the Company as an organization, subsidiary entity, Board of Commissioners or Board of Directors.



AKSES INFORMASI DAN DATA PERUSAHAANAccess to Company Information and Data

Perseroan senantiasa memberikan kemudahan akses Informasi dan data Perseroan secara tepat waktu, akurat dan lengkap kepada seluruh pemangku kepentingan. Penyebaran Informasi kepada seluruh pemangku kepentingan merupakan bagian penting dari implementasi prinsip transparansi Informasi. Oleh karena itu Perseroan menyediakan akses Informasi seluas-luasnya melalui berbagai media.

Selain itu, sebagai bentuk kepatuhan atas prinsip keterbukaan Informasi kepada Regulator, Perseroan juga selalu melakukan pelaporan Informasi baik melalui media surat tercatat maupun melalui e-reporting kepada Otoritas Jasa Keuangan (www.spe.ojk.go.id) dan Bursa Efek Indonesia (www.idxnet.co.id).

TATA KELOLA INFORMASI DAN AKSES DATA PERUSAHAAN UNTUK PIHAK EKSTERNALPerseroan menyediakan akses informasi dan data perusahaan untuk Pihak Eksternal dengan cara berikut:

Pengelolaan Situs WebSesuai dengan Peraturan OJK No. 8/POJK.04/2015 tentang Situs Web Emiten Perusahaan Publik (“POJK No. 8”), Perseroan telah mempunyai situs web resmi yang mencerminkan identitas Perseroan dan dapat diakses melalui www.elnusa.co.id. Situs web ini menyediakan berbagai informasi, antara lain mengenai profil perusahaan, visi dan misi, bidang usaha, produk dan jasa yang disediakan, informasi keuangan, berita terbaru, tanggung jawab sosial perusahaan, keterbukaan informasi, dan lain-lain.

Situs web Perseroan juga telah tersedia dalam 2 (dua) bahasa, yakni Bahasa Indonesia dan Bahasa Inggris. Perseroan secara berkala memperbarui website untuk senantiasa memberikan informasi terbaru terkait Perseroan kepada para pemangku kepentingan serta dalam rangka memenuhi peraturan perundang-undangan yang berlaku. Website Perseroan juga menyediakan nomor kontak serta alamat email dan pos yang dapat dihubungi untuk komunikasi selanjutnya dengan para pemangku kepentingan.

Di bawah ini tersaji kesesuaian konten situs web www.elnusa.co.id dengan peraturan OJK No. 8/POJK.04/2015 tentang Situs Web Emiten atau Perusahaan Publik.

The Company always provides easy access to Company information and data in a timely, accurate and complete manner to all stakeholders. Dissemination of information to all stakeholders is an important part of implementing the principle of transparency of information. Therefore the Company provides access to the widest possible information through various media.

In addition, as a form of compliance with the principle of information disclosure to the Regulator, the Company also always reports information both through the media of registered letters and through e-reporting to the Financial Services Authority (www.spe.ojk.go.id) and the Indonesia Stock Exchange (www .idxnet.co.id).

CORPORATE INFORMATION MANAGEMENT AND DATA ACCESS FOR EXTERNAL PARTIESThe Company provides access to company information and data for external parties in the following ways:

Website Management

In accordance with OJK Regulation No. 8/POJK.04/2015 concerning Public Company Issuer Websites ("POJK No. 8"), the Company has an official website that reflects the Company's identity and can be accessed via www.elnusa.co.id. This website provides a variety of information, including regarding company profile, vision and mission, line of business, products and services provided, financial information, latest news, corporate social responsibility, information disclosure, and others.

The Company's website is also available in 2 (two) languages, namely Indonesian and English. The Company regularly updates the website to keep the Company informed of the latest information to stakeholders and in order to comply with applicable laws and regulations. The Company's website also provides contact numbers and email and postal addresses that can be contacted for further communication with stakeholders.

Below is presented the suitability of the website content www.elnusa.co.id with OJK regulation No. 8/POJK.04/2015 concerning Issuer's or Public Companies' Websites.


POJK No. 8/POJK.04/2015 tentang Situs Web Emiten atau Perusahaan PublikPOJK No. 8/POJK.04/2015 concerning Issuer's or Public Companies' Websites

Kesesuaian dengan Situs Web

PerseroanCompliance with the Company's

WebsiteKetentuan Umum

General Requirements

Situs Web Emiten atau Perusahaan Publik wajib menyajikan informasi dalam Bahasa Indonesia dan bahasa asing, dengan ketentuan bahasa asing yang digunakan paling kurang Bahasa Inggris. Informasi yang disajikan dalam bahasa asing wajib memuat informasi yang sama dengan informasi yang disajikan dalam Bahasa Indonesia.The Issuer's Website or Public Company must present information in Indonesian and foreign languages, provided that the foreign language used is at least English. Information presented in foreign languages must contain the same information as information presented in Indonesian.

v

Informasi yang termuat mengenai Emiten atau Perusahaan Publik terbuka untuk umum, aktual, dan terkini.The information contained on the Issuer or Public Company is open to the public, current and current.

v

Dapat diakses setiap saat oleh semua pihak.Can be accessed at any time by all parties.

v/x

Informasi Umum Emiten atau Perusahaan PublikGeneral Information of Issuers or Public Companies

Identitas Perusahaan, mencakup nama, alamat dan kontak kantor pusat dan/atau kantor perwakilan Emiten atau Perusahaan Publik, dan alamat pabrik (jika ada) yang paling kurang meliputi nomor telepon, nomor faksimili, dan alamat surat elektronik yang dapat dihubungi.Company Identity, including the name, address and contact of the head office and/or representative office of the Issuer or Public Company, and the address of the manufacturer (if any) which at least includes telephone numbers, facsimile numbers, and e-mail addresses that can be contacted.

v

Riwayat singkat Emiten atau Perusahaan Publik.Brief history of Issuers or Public Companies.

v

Struktur organisasi Emiten atau Perusahaan Publik.Issuer or Public Company organizational structure.

v

Struktur kepemilikan Emiten atau Perusahaan Publik, meliputi:• Uraian tentang nama pemegang saham dan persentase kepemilikannya setiap akhir bulan.• Informasi mengenai pemegang saham utama dan pengendali Emiten atau Perusahaan Publik, baik langsung maupun

tidak langsung, sampai kepada pemilik individu, yang disajikan dalam bentuk skema atau diagram.• Nama entitas anak, perusahaan asosiasi, perusahaan ventura bersama dimana Emiten atau Perusahaan Publik memiliki

pengendalian bersama entitas, beserta persentase kepemilikan saham, bidang usaha, dan status operasi perusahaan tersebut (jika ada).

The structure of ownership of Issuers or Public Companies, includes:• A description of the name of the shareholders and percentage of ownership at the end of each month.• Information regarding major and controlling shareholders of Issuers or Public Companies, both directly and indirectly,

to individual owners, presented in the form of schemes or diagrams.• Name of a subsidiary, associated company, joint venture company in which the Issuer or Public Company has joint control

of the entity, along with the percentage of share ownership, line of business and operating status of the company (if any).

v

Struktur grup Emiten atau Perusahaan Publik dalam bentuk bagan yang paling kurang meliputi perusahaan dalam grup Emiten atau Perusahaan Publik yang berada dalam pengawasan Otoritas Jasa Keuangan.The structure of the Issuer or Public Company group in the form of a chart that at least includes companies in the Issuer or Public Company group that are under the supervision of the Financial Services Authority.

v

Profil Direksi, Dewan Komisaris, Komite, dan Sekretaris Perusahaan paling kurang meliputi: foto, nama, riwayat jabatan—termasuk rangkap jabatan, riwayat pendidikan, dan hubungan afiliasi anggota Direksi dan anggota Dewan Komisaris dengan anggota Direksi dan/atau anggota Dewan Komisaris lainnya, serta pemegang saham (jika ada).Profiles of the Board of Directors, Board of Commissioners, Committees, and Corporate Secretary at least include: photo, name, position history - including concurrent positions, educational history, and affiliation of members of the Board of Directors and members of the Board of Commissioners with members of the Board of Directors and/or other members of the Board of Commissioners, as well as shareholders (if any).

v

Nama dan alamat Akuntan Publik yang mengaudit laporan keuangan Emiten atau Perusahaan Publik dalam tahun berjalan.Name and address of the Public Accountant who audited the financial statements of the Issuer or Public Company in the current year.

v

Nama dan alamat Pemeringkat Efek (jika ada).Name and address of the Securities Rating Agency (if any).

v

Nama dan alamat Wali Amanat (jika ada).Name and address of the Trustee (if any).

v

Nama dan alamat Biro Administrasi Efek (jika ada).Name and address of the Securities Administration Agency (if any).

v

Dokumen Anggaran Dasar.Articles of Association.

v






Website

Informasi bagi Pemodal atau InvestorInformation for Investors

Prospektus Penawaran Umum.Public Offering Prospectus.

v

Laporan tahunan, untuk periode 5 (lima) tahun buku terakhir.Annual reports, for the last 5 (five) fiscal years.

v

Informasi keuangan, paling kurang meliputi:• Laporan keuangan tahunan, untuk periode 5 (lima) tahun buku terakhir.• Laporan keuangan tengah tahunan, untuk periode 5 (lima) tahun buku terakhir.• Ikhtisar data keuangan penting, dalam bentuk perbandingan untuk 5 (lima) tahun buku terakhir yang paling kurang memuat:

» Pendapatan, laba bruto, laba (rugi), laba (rugi) yang dapat diatribusikan kepada pemilik entitas induk dan kepentingan non pengendali, total laba (rugi) komprehensif, laba (rugi) komprehensif yang dapat diatribusikan kepada pemilik entitas induk dan kepentingan non pengendali, dan laba (rugi) per saham.

» Jumlah aset, liabilitas dan ekuitas. » Rasio laba (rugi) terhadap jumlah aset, rasio laba (rugi) terhadap ekuitas, rasio laba (rugi) terhadap pendapatan,

rasio lancar, rasio liabilitas terhadap ekuitas, dan rasio liabilitas terhadap jumlah aset. » Informasi dan rasio keuangan lainnya yang relevan dengan perusahaan dan jenis industrinya.

Financial information, at least includes:• Annual financial statements, for the last 5 (five) fiscal years.• Semi-annual financial statements, for the last 5 (five) fiscal years.• Summary of important financial data, in the form of a comparison for the last 5 (five) fiscal years which at least contains:

» Revenue, gross profit, profit (loss), profit (loss) attributable to owners of the parent entity and non-controlling interests, total comprehensive profit (loss), comprehensive income (loss) attributable to owners of the parent entity and non-controlling interests and profit (loss) per share.

» Total assets, liabilities and equity. » Laba Ratio of profit (loss) to total assets, ratio of profit (loss) to equity, ratio of profit (loss) to income, current ratio,

ratio of liabilities to equity, and ratio of liabilities to total assets. » Other financial information and ratios that are relevant to the company and the type of industry.

v

Informasi Rapat Umum Pemegang Saham, paling kurang meliputi:• Pengumuman dan pemanggilan.• Bahan mata acara yang dibahas dalam Rapat Umum Pemegang Saham.• Riwayat hidup calon anggota Direksi dan Dewan Komisaris apabila terdapat mata acara pengangkatan atau penggantian

anggota Direksi dan Dewan Komisaris.• Ringkasan risalah Rapat Umum Pemegang Saham.

Information on the General Meeting of Shareholders, at least includes:• Announcements and summons.• Agenda material discussed at the General Meeting of Shareholders.• Curriculum vitae of prospective members of the Board of Directors and the Board of Commissioners if there are agenda

of appointment or replacement of members of the Board of Directors and Board of Commissioners.• Summary of minutes of the General Meeting of Shareholders.

v

Informasi saham, paling kurang meliputi:• Jumlah saham beredar.• Pemecahan saham (jika ada).• Penggabungan saham (jika ada).• Saham bonus (jika ada).• Perubahan nilai nominal saham (jika ada).

Stock information, at least includes:• Number of shares outstanding.• Stock splits (if any).• Merger of shares (if any).• Bonus shares (if any).• Changes in the face value of shares (if any).

v

Informasi obligasi dan/atau Sukuk, paling kurang meliputi nilai obligasi yang belum lunas/terhutang (outstanding bond) dan/atau Sukuk, hasil pemeringkatan obligasi dan/atau Sukuk, tanggal jatuh tempo, dan tingkat bunga obligasi dan/atau imbal hasil Sukuk.Bond and/or Sukuk information, at least includes the value of outstanding bonds and/or Sukuk, bond and/or Sukuk rating results, maturity date, and bond interest rate and/or Sukuk yield.

v

Informasi dividen.Dividend Information.

v





WebsiteInformasi untuk pemodal atau investor, media, publik, dan/atau analis (jika ada).Information for investors or investors, media, public and/or analysts (if any).

v

Informasi terkait aksi korporasi yang dilakukan oleh Emiten atau Perusahaan Publik dan tindakan yang dilakukan oleh pihak lain terhadap Emiten atau Perusahaan Publik (jika ada), meliputi:• Transaksi Afiliasi dan Benturan Kepentingan Transaksi Tertentu.• Transaksi Material dan perubahan Kegiatan Usaha Utama.• Penggabungan Usaha atau Peleburan Usaha.• Pengambilalihan Perusahaan Terbuka.• Kuasi Reorganisasi.• Pembelian kembali saham yang dikeluarkan oleh Emiten atau Perusahaan Publik.• Pembagian Saham Bonus.• Pernyataan Penawaran Tender.• Pembelian kembali saham oleh Emiten atau Perusahaan Publik dalam kondisi pasar yang berpotensi krisis.• Program kepemilikan saham oleh anggota Direksi, anggota Dewan Komisaris, dan karyawan dari Emiten atau Perusahaan

Publik atau pihak terkendali.

Information relating to corporate actions taken by Issuers or Public Companies and actions taken by other parties against Issuers or Public Companies (if any), including:• Affiliated Transactions and Conflicts of Interest on Certain Transactions.• Material Transactions and changes in Main Business Activities.• Business Combination or Business Consolidation.• Takeover of a public company.• Quasi Reorganization.• Buy back shares issued by Issuers or Public Companies.• Distribution of Bonus Shares.• Tender Offer Statement.• Buy back shares by Issuer or Public Company in a potentially crisis market condition.• Share ownership program by members of the Board of Directors, members of the Board of Commissioners, and employees

of the Issuer or Public Company or controlled parties.

v

Informasi atau Fakta Material selain yang telah diungkapkan dalam Peraturan Otoritas Jasa Keuangan ini.Material Information or Facts other than those that have been disclosed in this Financial Services Authority Regulation.

v

Informasi Tata Kelola PerusahaanCorporate Governance Information

Pedoman kerja Direksi dan Dewan Komisaris.Work guidelines for the Board of Directors and Board of Commissioners.

v

Pengangkatan, pemberhentian, dan/atau kekosongan Sekretaris Perusahaan, termasuk Sekretaris Perusahaan sementara, serta informasi pendukungnya.Appointment, dismissal and/or vacancy of the Corporate Secretary, including the temporary Corporate Secretary, and supporting information.

v

Piagam Unit Audit Internal.Internal Audit Unit Charter.

v

Kode etik.Code of Ethics.

v

Pedoman kerja komite.Committee work guidelines.

v

Pengangkatan dan pemberhentian anggota Komite Audit.Appointment and dismissal of members of the Audit Committee.

v

Uraian prosedur Nominasi dan Remunerasi, apabila tidak dibentuk Komite Nominasi dan Remunerasi.Description of the Nomination and Remuneration procedure, if no Nomination and Remuneration Committee is established.

v

Kebijakan manajemen risiko.Risk management policy.

v

Kebijakan mekanisme sistem pelaporan pelanggaran (jika ada).Policy mechanism for reporting violations (if any).

v

Kebijakan anti korupsi (jika ada).Anti-corruption policy (if any).

v

Kebijakan terkait seleksi pemasok dan hak kreditur (jika ada).Policy regarding supplier selection and creditor rights (if any).

v






WebsiteKebijakan dalam peningkatan kemampuan vendor (jika ada).Policy on increasing vendor capabilities (if any).

v

Informasi Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility Information

Bidang lingkungan hidup; termasuk kebijakan, jenis program dan biaya yang dikeluarkan oleh Emiten dan Perusahaan Publik.The environment sector; including policies, types of programs and costs incurred by Issuers and Public Companies.

v

Praktik ketenagakerjaan, kesehatan, dan keselamatan kerja; termasuk kebijakan, jenis program dan biaya yang dikeluarkan oleh Emiten dan Perusahaan Publik.Labor, health and safety practices; including policies, types of programs and costs incurred by Issuers and Public Companies.

v

Pengembangan sosial dan kemasyarakatan; termasuk kebijakan, jenis program dan biaya yang dikeluarkan oleh Emiten dan Perusahaan Publik.Social and community development; including policies, types of programs and costs incurred by Issuers and Public Companies.

v

Tanggung jawab produk dan/atau layanan, dengan disertai informasi pendukungnya; termasuk kebijakan, jenis program dan biaya yang dikeluarkan oleh Emiten dan Perusahaan Publik.Product and/or service responsibilities, accompanied by supporting information; including policies, types of programs and costs incurred by Issuers and Public Companies.

v

v = ada/x = tidak ada

Situs WebMelalui Situs Web Perseroan www.elnusa.co.id sebagai pusat publikasi informasi kepada pihak eksternal, yang telah sesuai dengan peraturan POJK No. 8/POJK.04/2015 tentang Situs Web Emiten atau Perusahaan Publik, disajikan dalam Bahasa Indonesia maupun Bahasa Inggris. Informasi yang tersedia dalam situs Perseroan adalah meliputi:1. Informasi Bagi Investor & Pemegang Saham, di antaranya;

Struktur Pemegang Saham, Komposisi Pemegang Saham, Rapat Umum Pemegang Saham, Aksi Korporasi, Informasi Dividen, Harga Saham, dan Pertemuan Analist.

2. Standar Etika Perusahaan3. Informasi Rapat Umum Pemegang Saham (RUPS), di

antaranya; Ringkasan Risalah RUPS, Tata Tertib RUPS, Form Surat Kuasa (Badan Hukum), Form Surat Kuasa (Perorangan), Material Agenda RUPS, Pemanggilan RUPS, dan Pengumuman RUPS.

4. Laporan Keuangan Tahunan Terpisah (10 Tahun Terakhir).5. Struktur Manajemen, di antaranya; Profil Dewan Komisaris,

Profil Direksi, Profil Komite, dan Profil Sekretaris Perusahaan.

6. Kebijakan & Arahan, di antaranya; Board Manual, Piagam Komite Audit, Piagam Komite Manajemen Risiko, Piagam Komite Nominasi & Remunerasi, Piagam Sekretaris Perusahaan, dan Piagam Unit Audit Internal

E-mailE-mail resmi Perseroan untuk mengakomodir berbagai pertanyaan dan informasi terkait dengan Perseroan, yaitu dengan menghubungi Corporate Secretary pada e-mail: [email protected]

Siaran PersPerseroan memanfaatkan media massa sebagai mitra untuk menyebarluaskan informasi tentang Perseroan kepada khalayak. Berikut disampaikan siaran pers yang dilakukan Perseroan di sepanjang tahun 2019.

v = available/x = not available

WebsiteThrough the Company's website www.elnusa.co.id as a center for publication of information to external parties, which are in accordance with POJK regulations No. 8/POJK.04/2015 concerning Issuer's or Public Company Websites, presented in Indonesian and English. Information available on the Company's website includes:

1. Information for Investors & Shareholders, including; Shareholder Structure, Shareholders Composition, General Meeting of Shareholders, Corporate Actions, Dividend Information, Share Prices and Analyst Meetings.

2. Corporate Ethics Standards3. Information on the General Meeting of Shareholders (GMS),

including; Summary of GMS Minutes, GMS Rules, Power of Attorney Form (Legal Entity), Power of Attorney Form (Individual), GMS Agenda Material, GMS Summons and GMS Announcement.

4. Separate Annual Financial Statements (Last 10 Years).5. Management Structure, including; Board of Commissioners

'Profiles, Directors' Profiles, Committee's Profiles and Company Secretary's Profiles.

6. Policies & Directives, including; Board Manual, Audit Committee Charter, Risk Management Committee Charter, Nomination & Remuneration Committee Charter, Corporate Secretary Charter and Internal Audit Unit Charter

E-mailThe Company's official email to accommodate various questions and information related to the Company, namely by contacting the Corporate Secretary at email: [email protected]

Press conferenceThe Company utilizes mass media as a partner to disseminate information about the Company to the public. The following is a press release conducted by the Company throughout 2019.


TanggalDate

JudulTitle

19 Februari19 February

Tahun Buku 2018: Elnusa Pecahkan Rekor Pendapatan UsahaFiscal Year 2018: Elnusa Sets Record of Operating Revenues

25 Februari25 February

Elnusa Dukung Smart City Pengelolaan Air Kota Tangerang Berbasis IoTElnusa Supports Smart City Management of Tangerang City Water Based on IoT

11 April11 April

RUPS Tahunan: Elnusa Bagikan Divide Rp69 Miliar dari Laba BersihAnnual GMS: Elnusa Distributes Dividends of Rp69 Billion from Net Profit

23 April23 April

Tingkatkan Kualitas Eksplorasi Migas, Elnusa Gunakan Teknologi NodalImproving the Quality of Oil and Gas Exploration, Elnusa Uses Nodal Technology

25 April25 April

Elnusa Layarkan Kapal Seismik Berbendera Indonesia di Semenanjung IndocinaElnusa Sails Indonesian-Flagged Seismic Ship in Indochina Peninsula

30 April30 April

Perkuat Strategi Portfolio Bisnis, Elnusa Optimis Pertumbuhan Kinerja 2019Strengthening Business Portfolio Strategy, Elnusa is Optimistic about 2019 Performance

30 Juli30 July

Semester I 2019: Kinerja Elnusa Semakin Kokoh, Laba Bersih Naik 21%Semester I 2019: Elnusa's Performance Increasingly Sturdy, Net Profit Increases 21%

28 Agustus28 August

Paparan Publik 2019: Diversifikasi Portofolio Jadi Kunci Kinerja Gemilang Elnusa2019 Public Expose: Portfolio Diversification is Key to Elnusa's Glorious Performance

30 Agustus30 August

Elnusa Siap Alih Kelola Depot LPG AmurangElnusa Ready to Change to Manage Amurang LPG Depot

4 September4 September

Geliat Elnusa Jajaki Pasar di Luar Negeri dari Asia hingga AfrikaElnusa stretching explores overseas markets from Asia to Africa

30 Oktober30 October

Kuartal III 2019: Elnusa Terus Torehkan Kinerja Stabil Sepanjang TahunQuarter III 2019: Elnusa Continues to Achieve Stable Performance Throughout the Year

18 November18 November

KKP Jambi Merang: Elnusa Mulai Layarkan Elsa Regent untuk Survei Seismik 2D di Wilayah TerbukaJambi Merang MPA: Elnusa Begins Sailing Elsa Regent for 2D Seismic Survey in Open

Laporan TahunanPerseroan juga menerbitkan buku Laporan Tahunan yang dibagikan kepada pemegang saham dan pemangku kepentingan lainnya. Penerbitan dan penyampaian Laporan Tahunan juga merupakan bentuk pemenuhan Perseroan terhadap ketentuan peraturan dan informasi Perseroan serta salah satu syarat pelaksanaan RUPS.

Media MassaPerseroan selalu memuat Informasi penting yang perlu diketahui oleh publik sebagai bentuk transparansi bagi para pemangku kepentingan dalam surat kabar berperedaran nasional. Selain itu Perseroan juga selalu menjaga hubungan baik dengan beberapa media massa untuk memberikan update Informasi penting Perseroan dengan melakukan media visit.

Aktivitas Investor RelationsSebagai bentuk keterbukaan informasi, Perseroan senantiasa memberikan keterangan informasi melalui aktivitas yang terkait Investor Relations. Perseroan mempunyai mempunyai Bagian Hubungan Investor (Investor Relations) yang berkedudukan dibawah Corporate Secretary dan bertugas sebagai penghubung perusahaan dengan komunitas pasar modal dan pihak eksternal lain.

Bagian Investor Relation memiliki tanggung jawab untuk memastikan dipenuhinya aspek keterbukaan sebagai salah satu prinsip GCG kepada komunitas pasar modal, membina hubungan dengan para investor saham dan obligasi maupun surat berharga lainnya, para analis, jurnalis, wali amanat, lembaga pemeringkat, Self Regulatory Organization (SRO), serta komunitas keuangan terkait lainnya.

Annual reportThe Company also publishes Annual Report books that are distributed to shareholders and other stakeholders. The issuance and submission of the Annual Report is also a form of the Company's compliance with the provisions of the Company's regulations and information as well as one of the requirements for holding a GMS.

Mass mediaThe Company always discloses important information that needs to be known by the public as a form of transparency for stakeholders in national circulation newspapers. In addition, the Company also always maintains good relations with several mass media to provide important updates to the Company's information by conducting media visits.

Investor Relations ActivitiesAs a form of information disclosure, the Company always provides information information through activities related to Investor Relations. The Company has an Investor Relations Section located under the Corporate Secretary and is in charge of liaising the company with the capital market community and other external parties.

The Investor Relations Section has the responsibility to ensure that transparency is fulfilled as one of the principles of GCG to the capital market community, fostering relationships with investors in shares and bonds and other securities, analysts, journalists, trustees, rating agencies, Self Regulatory Organization (SRO), and other related financial communities.



Untuk memenuhi tanggung jawab tersebut serta dalam rangka memenuhi peraturan dan meningkatkan komunikasi yang efektif, Bagian Investor Relations Perseroan menyelenggarakan beragam kegiatan mencakup: public expose dan analyst meeting, menerima company visit, field visit, dan conference call, melakukan update informasi pada investor relation website serta mengikuti investor conference dan non-deal roadshow.

Kegiatan Hubungan Investor Tahun 2019Investor Relations Activity in 2019

FrekuensiFrequency

Paparan PublikPublic Call

1

Investor Meeting dan Conference CallInvestor Meeting and Conference Call

40

Roadshow dan KonferensiRoadshow and Conference

1

Perseroan melakukan public expose atau paparan publik kepada pemegang saham, pemangku kepentingan dan masyarakat umum tentang aktivitas operasi dan proses usaha Perseroan. Paparan publik dilakukan melalui metode presentasi kepada pemegang saham, pemangku kepentingan dan pihak-pihak yang diundang. Perseroan memandang paparan publik yang dilakukan akan membantu Perseroan dalam menyampaikan informasi yang lebih luas dan menjangkau khalayak lebih banyak.

Public expose tahun 2019 diadakan sebanyak 1 (satu) kali, diadakan pada 28 Agustus 2019 di Bursa Efek Indonesia. Agenda Public expose adalah melakukan presentasi manajemen atau paparan publik mengenai Perseroan.

Komunikasi dengan RegulatorDalam hal compliance, Corporate Secretary Perseroan senantiasa memenuhi dan memastikan Perusahaan mematuhi peraturan yang berlaku untuk Perseroan sebagai publc & listed company. Karenanya, Corporate Secretary secara teratur memberikan keterbukaan informasi kepada publik, Otoritas Jasa Keuangan dan Bursa Efek Indonesia sebagai otoritas pasar modal, sesuai dengan ketentuan yang berlaku, baik untuk pelaporan berkala maupun insidentil. Selama tahun 2019, Perseroan tidak pernah mendapatkan teguran maupun sanksi dari regulator pasar modal terkait keterbukaan informasi tersebut.

Berikut adalah daftar Keterbukaan Informasi yang telah disampaikan oleh Perseroan, yang dikelola oleh Corporate Secretary dan disampaikan melalui surat kepada Otoritas Jasa Keuangan (OJK) dan e-reporting Bursa Efek Indonesia (www.idx.co.id),

To fulfill these responsibilities and in order to meet regulations and improve effective communication, the Investor Relations Division of the Company conducts a variety of activities including: public exposures and analyst meetings, receiving company visits, field visits, and conference calls, updating information on investor relations websites and following the investor conference and non-deal roadshow.

The Company carries out public exposures or public exposures to shareholders, stakeholders and the general public regarding the Company's operational activities and business processes. Public exposure is carried out through a presentation method to shareholders, stakeholders and invited parties. The Company views that the public exposure that will be carried out will assist the Company in conveying wider information and reaching a wider audience.

Public Expose in 2019 was held 1 (one) time, held on August 28, 2019 on the Indonesia Stock Exchange. The public expose agenda is to make a management presentation or public expose on the Company.

Communication with RegulatorsIn terms of compliance, the Company's Corporate Secretary always meets and ensures that the Company complies with regulations that apply to the Company as a publicly listed company. Therefore, the Corporate Secretary regularly provides information disclosure to the public, the Financial Services Authority and the Indonesia Stock Exchange as the capital market authority, in accordance with applicable regulations, both for periodic and incidental reporting. During 2019, The Company never received a reprimand or sanction from the capital market regulator regarding the disclosure of the information.

The following is a list of Information Disclosures that have been submitted by the Company, which are managed by the Corporate Secretary and submitted by letter to the Financial Services Authority (OJK) and e-reporting of the Indonesia Stock Exchange (www.idx.co.id),


Jenis InformasiInformation Type

JumlahTotal

Judul InformasiInformation Title

TanggalDate

Laporan Tahunan Annual Report

1 Laporan Tahunan 2018 2018 Annual Report

20 Maret March 20

Laporan Keuangan Audit Audited Financial Report

1 Laporan Keuangan Konsolidasian Audit per 31 Desember 2018Audited, Consolidated Financial Statements as of December 31, 2018

19 Februari February 19

Iklan publikasi laporan keuanganAdvertising publication of financial statements

2 • Iklan Laporan keuangan audit per 31 Desember 2018. Surat kabar: Bisnis Indonesia

• Iklan Laporan keuangan interim per 30 Juni 2019. Surat kabar: Bisnis Indonesia• Advert of audit financial statements as of December 31, 2018. Newspaper:

Bisnis Indonesia• Advert of Interim financial statements as of June 30, 2019. Newspaper:

Bisnis Indonesia


Laporan keuangan interim

Interim Financial Statement

3 • Laporan Keuangan per 31 Maret 2019• Laporan Keuangan interim per 30 Juni 2019• Laporan Keuangan interim per 30 September 2019

• Financial Report as of March 31, 2019• Interim Financial Statements as of June 30, 2019• Interim Financial Statements as of September 30, 2019

30 April 30 Juli30 Oktober

April 30June 30October 30

Laporan terkait RUPS

GMS-related Reports

5 RUPS Tahunan• Pemberitahuan RUPS Tahunan kepada OJK• Pengumuman RUPS Tahunan (termasuk iklan publikasi) • Pemanggilan RUPS Tahunan (termasuk iklan publikasi) • Ringkasan Risalah RUPS Tahunan & Jadwal pembayaran dividen (termasuk

iklan publikasi) • Risalah RUPS Tahunan

Annual GMS• Notification of Annual GMS to OJK• Announcement of Annual GMS (including publication advertisements)• Summons of Annual GMS (including publication advertisements)• Summary of Annual GMS Minutes & Schedule for dividend payments (including

publication advertisements)• Minutes of Annual GMS

26 Februari5 Maret 20 Maret12 April

10 Mei

February 26,March 5March 20April 12

May 10Press Release yang disampaikan ke OJK

Press Release revealed to OJK

12 • Tahun Buku 2018: Elnusa Pecahkan Rekor Pendapatan Usaha• Elnusa Dukung Smart City Pengelolaan Air Kota Tangerang Berbasis IoT• RUPS Tahunan: Elnusa Bagikan Divide Rp69 Miliar dari Laba Bersih• Tingkatkan Kualitas Eksplorasi Migas, Elnusa Gunakan Teknologi Nodal• Elnusa Layarkan Kapal Seismik Berbendera Indonesia di Semenanjung Indocina• Perkuat Strategi Portfolio Bisnis, Elnusa Optimis Pertumbuhan Kinerja 2019• Semester I 2019: Kinerja Elnusa Semakin Kokoh, Laba Bersih Naik 21%• Paparan Publik 2019: Diversifikasi Portofolio Jadi Kunci Kinerja Gemilang Elnusa• Elnusa Siap Alih Kelola Depot LPG Amurang• Geliat Elnusa Jajaki Pasar di Luar Negeri dari Asia hingga Afrika• Kuartal III 2019: Elnusa Terus Torehkan Kinerja Stabil Sepanjang Tahun• KKP Jambi Merang: Elnusa Mulai Layarkan Elsa Regent untuk Survei Seismik

2D di Wilayah Terbuka

• Fiscal Year 2018: Elnusa Sets Record of Operating Revenues• Elnusa Supports Smart City based on IoT-based Tangerang City Water

Management• Annual GMS: Elnusa Distributes Rp69 Billion Divide from Net Profit• Improving the Quality of Oil and Gas Exploration, Elnusa Uses Nodal Technology• Elnusa Says Indonesian-Flagged Seismic Ship in Indochina Peninsula• Strengthen Business Portfolio Strategy, Elnusa Optimistic Growth in 2019

Performance• Semester I 2019: Elnusa's Performance Increasingly Sturdy, Net Profit

Increases 21%• Public Exposure 2019: Diversification of Portfolios is Key to Elnusa's Glorious

Performance• Elnusa Ready to Change to Manage Amurang LPG Depot• Stretching Elnusa Explores Overseas Markets from Asia to Africa• Quarter III 2019: Elnusa Continues to Achieve Stable Performance Throughout

the Year• Jambi Merang MPA: Elnusa Begins Lay Elsa Regent for 2D Seismic Survey

in Open Areas

19 Februari25 Februari11 April23 April 25 April30 April30 Juli28 Agustus30 Agustus4 September30 Oktober18 November

February 19February 25April 11April 23April 25April 30July 30August 28August 30September 4October 30November 18



Jenis InformasiInformation Type

JumlahTotal

Judul InformasiInformation Title

TanggalDate

Keterbukaan Informasi Lainnya

Other Information Disclosure

5 • Laporan Hasil Evaluasi Komite Audit PT Elnusa Tbk terhadap Pelaksanaan Pemberian Jasa Audit atas Informasi Keuangan Historis Tahunan Tahun Buku 2018

• Perubahan Susunan Anggota Komite Audit PT Elnusa Tbk• Perubahan Kepala Internal Audit PT Elnusa Tbk• Perubahan Sekretaris Perusahaan PT Elnusa Tbk • Laporan Penunjukan AP dan/atau KAP PT Elnusa Tbk• Report on the Evaluation Results of the Audit Committee of PT Elnusa Tbk on

the Implementation of Audit Services Providing Annual Financial Financial Information for Fiscal Year 2018

• Changes in the Composition of Audit Committee Members of PT Elnusa Tbk• Changes to the Head of Internal Audit of PT Elnusa Tbk• Change in Corporate Secretary of PT Elnusa Tbk• Report on the Appointment of AP and/or KAP of PT Elnusa Tbk

26 Maret

2 Mei2 Mei4 November8 NovemberMarch 26

May 2May 2November 4November 8

Laporan Bulanan Registrasi Pemegang Efek

Monthly Report of Securities Holder Registration

12 • Laporan per 31 Januari 2019 • Laporan per 28 Februari 2019• Laporan per 31 Maret 2019• Laporan per 30 April 2019• Laporan per 31 Mei 2019• Laporan per 30 Juni 2019 • Laporan per 31 Juli 2019• Laporan per 31 Agustus 2019• Laporan per 30 September 2019• Laporan per 31 Oktober 2019• Laporan per 30 November 2019• Laporan per 31 Desember 2019• Report as of January 31, 2019• Reports as of February 28, 2019• Report as of March 31, 2019• Report as of April 30,2019 • Report as of May 31, 2019• Report as of June 30, 2019• Report as of July 31, 2019• Report as of August 31, 2019• Report as of September 30, 2019• Report as of October 31, 2019• Report as of November 30, 2019• Report as of December 31, 2019

7 Februari 8 Maret 8 April 7 Mei 10 Juni 5 Juli 7 Agustus 5 September8 Oktober 8 November11 Desember7 Januari 2020February 7March 8April 8May 7June 10July 5August 7September 5October 8November 8December 11January 7, 2020

Laporan data utang/kewajiban perusahaan dalam valuta asing

Debt/obligation data report of the company in foreign exchange

12 • Laporan per Januari 2019 • Laporan per Februari 2019 • Laporan per Maret 2019• Laporan per April 2019• Laporan per Mei 2019• Laporan per Juni 2019 • Laporan per Juli 2019• Laporan per Agustus 2019• Laporan per September 2019• Laporan per Oktober 2019• Laporan per November 2019• Laporan per Desember 2019• Report as of January 2019• Reports as of February 2019• Report as of March 2019• Report as of April 2019• Report as of May 2019• Report as of June 2019• Report as of July 2019• Report as of August 2019• Report as of September 2019• Report as of October 2019• Report as of November 2019• Report as of December 2019

7 Februari 10 Maret 8 April 7 Mei 10 Juni 5 Juli 5 Agustus 5 September8 Oktober 8 November11 Desember8 Januari February 7March 10April 8May 7June 10July 5August 5September 5October 8November 8December 11January 8

Penyebaran informasi merupakan bagian penting dari perwujudan prinsip transparansi informasi. Untuk itu selain pelaporan di atas, Perseroan juga menyediakan akses informasi seluas-luasnya bagi para stakeholders dan shareholders melalui situs Perseroan di www.elnusa.co.id dalam Bahasa Indonesia dan Bahasa Inggris.

Dissemination of information is an important part of the realization of the principle of information transparency. For this reason, in addition to the above reporting, the Company also provides access to the widest possible information for stakeholders and shareholders through the Company's website at www.elnusa.co.id in Indonesian and English.


TATA KELOLA TEKNOLOGI INFORMASIInformation Technology Governance

Tahun 2019 merupakan tahun yang bernilai bagi tim IT. Pencapaian di tahun 2019 tidak terlepas dari komitmen, daya tahan dan daya juang dari tim IT yang konsisten mengimplementasikan kebijakan pengelolaan yang telah di sepakati. Meskipun terdapat banyak peluang untuk komersialisasi dari product-product yang diinovasi, namun profesionalisme atas komitmen dukungan terhadap kebutuhan bisnis proses dan bisnis model di internal elnusa group untuk kelancaran operasional sesuai norma integritas dan kaidah hukum yang berlaku baik dari segi sistematika operasi maupun dari segi keamanan data, tetap menjadi hal yang terus dijaga dan dipastikan kelancarannya.

Perawatan berkala terhadap semua perangkat dan perlengkapan IT untuk menunjang kebutuhan operasional selalu dilakukan untuk menjaga performance, stabilitas dan antisipasi malware sehingga tercipta rasa aman pengguna. Rekomendasi terhadap penggunaan hardware maupun software dari aplikasi resmi dengan teknologi terkini yang dilindungi oleh undang-undang adalah kebijakan yang dipegang teguh tim IT dan tidak membuka celah untuk melawan aturan yg berpotensi bertentangan dengan undang-undang. Dalam kegiatan pengembangan aplikasi yang dibutuhkan pengguna, tim IT selalu melakukan evaluasi dan penilaian risiko dari berbagai sudut pandang untuk meminimalisir risiko dari potensi gangguan terhadap business proses yang berjalan agar tidak mengganggu kinerja system ataupun keamanan yg sudah berjalan dan memastikan setiap pengembangan sejalan dengan visi misi Perusahaan.

ARSITEKTUR TEKNOLOGI INFORMASI

Tim IT dalam menggerakkan kegiatannya selalu mengembangkan arsitekturnya sesuai teknologi terkini agar adaptif terhadap perubahan dan perkembangan sehingga mampu menyesuaikan requirement sesuai model terkini dan compatible terhadap teknologi eksisiting serta lebih responsive dalam mengakomodir kebutuhan penggunanya yang bervariasi. Arsitektur yang dibangun dengan dukungan data center sendiri maupun penggunaan teknologi cloud computing serta topology jaringan internet yang mumpuni adalah kunci dalam menjaga dan menjamin kualitas koneksi, penciptaan data, pengolahan maupun penyimpanan data, merupakan asset yang terus di jaga kualitasnya. Adapun gambaran arsitekturnya adalah:

1. Proses data akuisisi, tim IT menggunakan beberapa metode antara lain device yang berbasis teknologi Internet of Things (IoT) yang terpasang pada obyek dan terhubung dengan internet. Extract data secara regular dari aplikasi eksisting yang digunakan para pengguna di perusahaan serta kumpulan data yang terorganisir melalui berbagai sumber baik internal maupun eksternal perusahaan.

2. Dalam kebutuhan prosesing data, tim IT menggunakan big data platform untuk menampung seluruh data yang tergenerate dari berbagai source baik secara langsung maupun tidak langsung dengan variasi jenis dan format data yang berbeda-beda dan jumlah ukuran data yang besar serta pertumbuhan data yang sangat cepat dalam waktu singkat.

2019 was a valuable year for the IT team. Achievements in 2019 are inseparable from the commitment, endurance and struggle of the IT team that consistently implements management policies that have been agreed upon. Although there are many opportunities for commercialization of products that are innovated, but the professionalism of the commitment to support the needs of business processes and business models in the internal elnusa group for smooth operations according to the norms of integrity and applicable legal rules both in terms of systematic operation and in terms of data security , remains a thing that continues to be maintained and ensure its smooth operation.

Periodic maintenance of all IT devices and equipment to support operational needs is always carried out to maintain the performance, stability and anticipation of malware so as to create a sense of security for the user. Recommendations for the use of hardware and software from official applications with the latest technology that are protected by law are policies that are adhered to by the IT team and do not open loopholes to fight rules that are potentially contrary to the law. In application development activities needed by users, the IT team always evaluates and evaluates risk from various perspectives to minimize the risk of potential disruption to the running business process so as not to interfere with system performance or security that is already running and ensure that every development is in line with the Company's vision and mission .

INFORMATION TECHNOLOGY ARCHITECTURE

The IT team in driving its activities always develops its architecture according to the latest technology so that it is adaptive to changes and developments so that it can adjust requirements according to the latest models and is compatible with existing technologies and is more responsive in accommodating the needs of its varied users. The architecture that was built with the support of its own data center and the use of cloud computing technology as well as a qualified internet network topology is the key in maintaining and guaranteeing the quality of connections, data creation, data processing and storage, are assets that continue to be maintained in quality. The architectural description is:

1. Data acquisition process, the IT team uses several methods including devices based on Internet of Things (IoT) technology that are attached to objects and connected to the internet. Extract data regularly from existing applications used by users in the company as well as organized data collection through various sources, both internal and external to the company.

2. In the data processing needs, the IT team uses a big data platform to collect all data generated from various sources both directly and indirectly with variations in different types and formats of data and large amounts of data size and very fast data growth in short time.



3. Kebutuhan penyajian data dalam bentuk analytics, tim IT telah menyiapkan berbagai tools mulai dari Busines Intelligent, web dashboard maupun mobile dashboard sesuai selera para penggunanya untuk dapat digunakan dalam pengambilan keputusan dari data yang diolah menjadi informasi tersebut.

PELAKSANAAN KEGIATAN TIM IT TAHUN 2019

Padatnya kegiatan tim IT di tahun 2019 seolah terbayar lunas dengan adanya beberapa highlight keberhasilan yang telah diimplementasi seperti:1. Inovasi dari penerapan metode sistem monitoring real

time operation yang telah menyelamatkan unit bisnis Mud Logging Service (MLU) melalui perpanjangan kontrak jasa MLU dengan nilai revenue sebesar $4 juta. Dengan product delivery yaitu : Mampu menyajikan data parameter pemboran dan CCTV secara real-time, download database, menampilkan data litologi sumur pemboran.

2. Inovasi Vehicle, Vessel, dan Personal Tracking dengan aplikasi dan jaringan yang mampu menjangkau remote area dengan minimnya infrastruktur jaringan yang tersedia. Aplikasi yang terus di kembangkan dengan kelengkapan fitur-fitur advance berbasis teknologi Internet of Things (IoT) ini sudah di deliver ke tim operasi perusahaan dan sudah mampu di operasikan secara otonom oleh tim operasi dengan minimum dukungan dari tim IT.

3. Inovasi teknologi jaringan internet Long Range dengan jangkauan jarak yang jauh dan area remote, serta end to end kerangka kerja mulai dari device hingga aplikasi monitoringnya yang diaplikasikan untuk pengelolaan sumber daya air. Inovasi ini mampu menjadi driver perusahaan dalam diversifikasi bisnis ke sektor bisnis water treatment berbasis Internet of Things (IoT) dengan telah dilakukannya Proof of Concept (PoC) dengan salah satu klien guna pengembangan teknologi value digital Smart Water Meter dan Smart Power Meter. Meski belum memberikan kontribusi bagi revenue perusahaan secara keseluruhan, namun bisnis pengelolaan air memiliki potensi yang besar dan berpeluang menjadi recurring income bagi perusahaan di masa mendatang.

4. Inovasi dari segi aplikasi self service karyawan perusahaan, tim IT terus mengembangkan platform single sign in seluruh aplikasi yang ada di elnusa sehingga nantinya seluruh karyawan akan terhubung dengan satu aplikasi untuk semua kegiatan yang telah didukung dengan aplikasi dan berpotensi menjadi super apps yang dimiliki insan elnusa.

5. Inovasi dalam upaya mengurangai biaya yang cukup besar pada pengadaan teknologi dan lisensi, tim IT melalui salah satu produknya Equanta Resource Planning terus mengembangkan dan mengintegrasikan seluruh aplikasi transaksional sesuai dengan kebutuhan porses bisnis yang lebih efisien dan akomodatif terhadap requirement masing-masing bagian sehingga lebih tepat guna sesuai peruntukannya.

3. The need for data presentation in the form of analytics, the IT team has prepared various tools ranging from Intelligent Busines, web dashboards and mobile dashboards according to the tastes of its users to be used in making decisions from the data that is processed into that information.

IMPLEMENTATION OF IT TEAM ACTIVITIES IN 2019

The solid activity of the IT team in 2019 seems to be paid off by the presence of several highlights of success that have been implemented such as:1. Innovation from the application of the real time operation

monitoring system method that saved the Mud Logging Service (MLU) business unit through the extension of the MLU service contract with a revenue value of $ 4 million. With product delivery, namely: Able to present drilling and CCTV parameter data in real-time, download databases, display drilling well lithology data.

2. Vehicle, Vessel and Personal Tracking innovations with applications and networks capable of reaching remote areas with minimal available network infrastructure. This application, which continues to be developed with the completeness of advanced features based on Internet of Things (IoT) technology, has been delivered to the company's operations team and has been able to be operated autonomously by the operations team with a minimum of support from the IT team.

3. Long Range internet network technology innovation with long-range and remote areas, as well as end-to-end frameworks ranging from devices to monitoring applications that are applied for water resource management. This innovation is able to become a corporate driver in business diversification into the Internet of Things (IoT) water treatment business sector by having done Proof of Concept (PoC) with one of the clients for the development of Smart Water Meter and Smart Power Meter digital value technology. Although it has not yet contributed to the company's overall revenue, the water management business has great potential and has the opportunity to become recurring income for the company in the future.

4. Innovation in terms of self-service applications for company employees, the IT team continues to develop a single sign-in platform for all applications in elnusa so that later all employees will be connected to one application for all activities that have been supported by applications and potentially become super apps owned by Elnusa's people .

5. Innovation in an effort to reduce substantial costs on technology procurement and licensing, the IT team through one of its products Equanta Resource Planning continues to develop and integrate all transactional applications in accordance with the needs of business processes that are more efficient and accommodating to the requirements of each part so that it is more precise in accordance with its purpose.


PELAKSANAAN INVESTASI IT TAHUN 2019

Untuk menunjang operasional agar lancar dan terjaga kualitasnya, tim IT cukup berhati-hati dalam mengalokasikan anggarannya untuk investasi pada hal-hal yang dirasa perlu dengan kategori sangat mendesak baik dari segi peralatan maupun dari segi SDM. Adapun realisasi investasi pada tahun 2019 antara lain:1. Upgrade software platform virtualisasi yang bertujuan untuk

meningkatkan performa, cost efficiency dan security pada server infrastruktur.

2. Upgrade perangkat infrastruktur yang bertujuan untuk meningkatkan performa kinerja network sehingga data dapat terhubung dengan baik.

3. Upgrade perangkat security (firewall) yang bertujuan untuk meningkatkan keamanan data perusahaan maupun data pengguna di lingkungan kerja.

4. Penambahan system personal number payroll pada fungsi Human Capital guna mangkomodasi bertambahnya jumlah karyawan dari bagian operasi perusahaan.

5. Pelatihan untuk peningkatan skill dan pengetahuan para SDM IT baik pelatihan teknis maupun non teknis untuk memelihara dan meningkatkan kualitasnya serta menyambut kecepatan perkembangan teknologi yang pesat sehingga SDM IT dapat cepat beradaptasi dan menyesuaikan rencana programnya tetap in line dengan teknologi terkini.

RENCANA KE DEPAN TIM IT

Orientasi tim IT pada masa yang akan datang, selain masih terus melanjutkan pengembangan yang belum selesai di tahun 2019, prioritas yang mendesak segera di laksanakan adalah penguatan fundamental pada kerangka kerja system yang menjadi backbone dan pedoman eksekusi pekerjaan, standarisasi alur kerja dalam proses system development serta internalisasi fundamental Agile mindset pada seluruh SDM IT dalam menghadapi dinamika kerja agar lebih fleksibel dan dewasa saat beradaptasi pada situasi apapun di lingkungan kerja. Dan tentunya penciptaan inovasi-inovasi teknologi terbaru baik teknologi yang berbasis data, Internet of Thing (IoT), Machine Learning yang mendukung operasional perusahaan dan menciptakan peluang bisnis baru guna meingkatkan revenue perusahaan akan selalu menarik dipertimbangan untuk diimplementasikan ke depan.

IMPLEMENTATION OF IT INVESTMENT IN 2019

To support operations so that they run smoothly and maintain quality, the IT team is careful enough to allocate its budget for investment in matters that are deemed necessary by a very urgent category both in terms of equipment and in terms of HR. The investment realization in 2019 includes:1. Upgrade virtualization platform software that aims to

improve performance, cost efficiency and security on infrastructure servers.

2. Upgrade infrastructure devices that aim to improve network performance so that data can be connected properly.

3. Upgrade security devices (firewalls) that aim to improve the security of company data and user data in the work environment.

4. Adding a personal number payroll system to the Human Capital function to accommodate the increasing number of employees from the company's operations.

5. Training to improve the skills and knowledge of IT HR both technical and non-technical training to maintain and improve their quality and to welcome the rapid pace of technological development so that HR IT can quickly adapt and adjust its program plans in line with the latest technology.

FUTURE PLANS OF THE IT TEAM

The orientation of the IT team in the future, in addition to continuing to continue development that has not been completed in 2019, urgent priorities to be implemented are fundamental strengthening of the system framework that serves as the backbone and work execution guidelines, standardizing workflows in the system development process and internalizing the fundamental Agile mindset on all IT human resources in facing work dynamics to be more flexible and mature when adapting to any situation in the work environment. And of course the creation of the latest technological innovations both data-based technology, the Internet of Thing (IoT), Machine Learning that supports the company's operations and creates new business opportunities to increase company revenue will always attract consideration for future implementation.



KODE ETIKCode of Ethics

Agar visi, misi, dan nilai inti serta budaya perusahaan dapat diterapkan secara lebih nyata, diperlukan sebuah perangkat yang bersifat artikulatif serta memiliki mekanisme reward & punishment. Perseroan memiliki Standar Etika Perusahaan atau Code of Conduct (CoC) yang disusun sejak tahun 2008 memuat prinsip-prinsip GCG, yaitu transparansi, akuntabilitas, responsibilitas, independensi dan kewajaran (fairness) dalam pengelolaan bisnis Perusahaan dengan mengedepankan etika bisnis serta pelaksanaan etika kerja di lingkungan Perusahaan agar setiap individu Perusahaan mampu bersikap, berperilaku, berinteraksi, dan melakukan proses kerja baik di dalam dan di luar Perusahaan.

CoC terkini yang telah ditandatangani oleh Komisaris Utama dan Direktur Utama pada tanggal 1 September 2015 merupakan bentuk pembaharuan yang senantiasa dilakukan sesuai dengan perkembangan hukum, peraturan perundang-undangan serta praktik terbaik Perseroan.

POKOK-POKOK STANDAR ETIKA PERUSAHAANPerseroan memegang komitmen pada standar etika dan perilaku bisnis tertinggi. Ini meliputi hubungan Perusahaan dengan para pelanggan, para pemasok, para pemegang saham dan investor, komunitas masyarakat dimana Perusahaan beroperasi, serta antar pekerja di semua tingkatan organisasi Perseroan. Setiap unit kerja dan Anak Perusahaan dalam lingkup Grup Perseroan harus beroperasi sesuai dengan kebijakan dan prosedur yang konsisten dengan nilai-nilai dalam standar etika ini.

Perseroan tidak akan mentolerir hal-hal terkait dengan integritas. Itu sebabnya beberapa aspek kritikal yang dipandang perlu diatur dalam Standar Etika Perusahaan sebagai pedoman perilaku dalam berhubungan dengan stakeholders, baik internal maupun eksternal. Oleh karena ini Standar etika Perusahaan memuat hal-hal sebagai berikut:Bab I: Pendahuluan1. Latar belakang2. Visi, Misi, dan Nilai Perusahaan3. Budaya Perusahaan4. Tujuan CoC5. Manfaat6. Prinsip-prinsip GCG7. Istilah-istilah yang digunakanBab II: Etika Kerja & Bisnis Elnusa1. Pedoman Perilaku2. Perilaku Integritas3. Patuh Hukum4. Benturan Kepentingan5. Hadiah, Jamuan dan Hiburan6. Hubungan dengan Petugas Pemerintahan atau Lembaga

Pemerintahan7. Sikap Profesional

So that the vision, mission and core values and corporate culture can be applied more clearly, we need a device that is articulate and has a reward & punishment mechanism. The Company has a Corporate Ethics Standard or Code of Conduct (CoC) compiled since 2008 containing GCG principles, namely transparency, accountability, responsibility, independence and fairness in managing the Company’s business by promoting business ethics and implementing work ethics in the environment Company so that each individual Company is able to behave, behave, interact and carry out work processes both inside and outside the Company.

The most recent CoC, which was signed by the President Commissioner and President Director on September 1, 2015, is a form of renewal that is always carried out in accordance with developments in laws, laws and regulations as well as the Company’s best practices.

HIGHLIGHTS OF COMPANY ETHICS STANDARDSThe Company holds a commitment to the highest ethical standards and business conduct. This includes the Company's relationships with customers, suppliers, shareholders and investors, the communities in which the Company operates, and between workers at all levels of the Company's organization. Each work unit and subsidiary within the scope of the Company Group must operate in accordance with policies and procedures that are consistent with the values in this ethical standard.

The Company will not tolerate matters related to integrity. That is why several critical aspects that are deemed necessary to be regulated in the Company Ethical Standards as a code of conduct in dealing with stakeholders, both internal and external. Therefore, the Company's ethical standards include the following:

Chapter I Introduction1. Background2. Vision, Mission and Company Values3. Corporate Culture4. The purpose of CoC5. Benefits6. GCG Principles7. Terms usedChapter II: Elnusa Work & Business Ethics1. Code of Conduct2. Integrity Behavior3. Law Compliance4. Conflict of Interest5. Gifts, Entertainment and Entertainment6. Relationship with Government Officials or Government

Institutions7. Professional attitude


Bab III: Whistleblowing SystemBab IV: Petunjuk Pelaksanaan1. Prinsip dasar pelaksanaan2. Sosialisasi3. Pelaporan pelanggaran4. Sanksi atas pelanggaranLampiran: Lembar pernyataan kepatuhan

PEMBERLAKUAN KODE ETIKBAGI SELURUH LEVEL ORGANISASI

Kode Etik Perseroan merupakan Standar Etika dilingkungan Perseroan yang wajib dipatuhi dan dilaksanakan oleh:1. Insan Elnusa, di semua level termasuk Dewan komisaris,

Direksi dan Organ penunjang Dewan Komisaris.

2. Pihak Eksternal yang bertindak untuk dan atas nama Elnusa3. Seluruh entitas Anak Perusahaan4. Mitra Kerja yang bekerja sama dengan Elnusa, seperti

Konsultan, Media partner, Lawyer serta rekanan kerja lainnya.

SOSIALISASI DAN INTERNALISASI KODE ETIK

Guna memberikan pemahaman kepada seluruh Insan Perseroan, Perseroan secara berkala melakukan sosialisasi standar etika ini kepada seluruh jajaran karyawan mulai dari jajaran Dewan Komisaris dan Direksi, Manajemen, karyawan baik yang berada di kantor pusat maupun yang berada di wilayah operasi. Sosialisasi materi CoC dilanjutkan dengan melakukan penandatanganan pernyataan kepatuhan atas CoC & komitmen integritas.

Perseroan juga menempatkan informasi mengenai Standar Etika melalui website Perseroan dan portal internal. Jika terdapat hal-hal yang kurang lengkap, karyawan dapat sewaktu-waktu bertanya kepada atasan langsung masing-masing atau kepada Dewan Etika & GCG sebagai penanggung jawab atas implementasi GCG.

Penerapan standar etika merupakan salah satu bentuk penguatan budaya Perusahaan yang bertujuan untuk membangun fondasi yang kuat bagi kelanjutan eksistensi bisnis Perusahaan. Budaya Perusahaan merupakan kombinasi yang terintegrasi dan selaras dari nilai Perusahaan (clean, respectful, synergy) serta semangat dan prinsip yang harus dimiliki oleh setiap insan Elnusa.

UPAYA PENEGAKAN KODE ETIKDAN PENGADUAN PELANGGARAN

Perseroan melakukan penegakan terhadap Pedoman Standar Perilaku Perseroan yang dilakukan dengan melakukan pemantauan secara berkala terhadap penegakan Pedoman Etika Perseroan dan menyediakan fasilitas bagi pengaduan terhadap pelanggaran Pedoman Standar Perilaku yang berlaku di lingkungan Perseroan. Mekanisme pelaporan pelanggaran Pedoman Standar Perilaku dilakukan sebagaimana termaktub dalam ketentuan Sistem Pelaporan Pelanggaran atau Whistleblowing System (WBS) yang telah dikembangkan Perseroan.

Chapter III: Whistleblowing SystemChapter IV: Implementation Instructions1. Basic principles of implementation2. Socialization3. Reporting violations4. Sanctions for violationsAttachment: Statement of compliance

ENFORCEMENT OF THE CODE OF ETHICSFOR ALL ORGANIZATIONAL LEVELS

The Company's Code of Ethics is an Ethical Standard in the Company's environment that must be obeyed and implemented by:1. Personnel of Elnusa, at all levels including the Board of

Commissioners, Directors and Supporting Organs of the Board of Commissioners.

2. External Parties acting for and on behalf of Elnusa3. All Subsidiaries4. Partners who work closely with Elnusa, such as Consultants,

Media partners, Lawyer and other working partners.

CODE OF ETHICS SOCIALIZATION AND INTERNALIZATION

In order to provide understanding to all Company Personnel, the Company periodically conducts socialization of this ethical standard to all levels of employees starting from the Board of Commissioners and Directors, Management, employees both at the head office and those in the operational area. The CoC material socialization was continued by signing a statement of compliance with the CoC & commitment to integrity.

The Company also places information on Ethical Standards through the Company's website and internal portal. If there are things that are incomplete, employees can at any time ask their respective direct superiors or the Ethics & GCG Board as the person responsible for GCG implementation.

The adoption of ethical standards is a form of strengthening the Company's culture which aims to build a strong foundation for the continued existence of the Company's business. The Corporate Culture is an integrated and harmonious combination of Company values (clean, respectful, synergy) as well as the spirit and principles that must be possessed by all Elnusa people.

ENFORCEMENT OF CODE OF ETHICSAND COMPLAINTS OF VIOLATION

The Company enforces the Company's Standards of Conduct Guidelines by periodically monitoring the enforcement of the Company's Code of Ethics and providing facilities for complaints against violations of the Code of Conduct that applies within the Company. The mechanism for reporting violations of the Code of Conduct Standards is carried out as stipulated in the provisions of the Whistle Blowing System (WBS) that has been developed by the Company.



WBS merupakan sistem yang telah dikembangkan Perseroan dan digunakan untuk menerima, mengelola dan menindaklanjuti serta memuat pelaporan atas informasi yang disampaikan oleh pelapor mengenai tindakan pelanggaran yang terjadi di lingkungan Perseroan, yaitu perbuatan melanggar Pedoman Standar Perilaku Perseroan yang dilakukan baik oleh karyawan atau pimpinan yang dapat merugikan Perseroan maupun para pemangku kepentingan lainnya.

Bagi insan Perseroan yang terbukti melakukan pelanggaran terhadap Pedoman Standar Perilaku yang berlaku, akan diberikan sanksi sesuai dengan kebijakan dan peraturan perundang-undangan yang berlaku. Bentuk penindakan berupa pemberian peringatan lisan maupun tertulis kepada karyawan yang melakukan pelanggaran.

SANKSI ATAS PELANGGARAN

Perseroan tidak akan mentolerir hal-hal terkait dengan itegritas. Itu sebabnya beberapa aspek kritikal yang dipandang perlu diatur dalam standar etika Perusahaan sebagai pedoman perilaku dalam berhubungan dengan stakeholders, baik internal maupun eksternal antara lain mencakup:1. Sikap kerja professional baik sebagai pimpinan maupun

bawahan2. Selalu melakukan tes etika jika berhadapan dengan situasi

dilematika3. Berani mengungkapkan masalah4. Menghindari diskriminasi5. Kesempatan karir yang sama6. Bebas Narkotika dan obat-obatan terlarang7. Saling menghargai satu sama lain8. Batasan dalam aktivitas politik9. Menjaga rahasia Perusahaan10. Menjaga citra Perusahaan11. Pengambilan keputusan berdasarkan atas kepentingan

Perusahaan

JUMLAH PELANGGARAN KODE ETIK

Sebagai realisasi penegakan Pedoman Standar Perilaku Perseroan, berikut rincian sanksi yang dikenakan terkait penegakan Kode Etik selama tahun 2019:

Kategori PelanggaranViolation Category

Jenis SanksiSanction Type

Jumlah PelanggaranViolation Amount

KelalaianNegligence

Surat Peringatan 1 dan Skorsing1st Warning Letter and Suspension

3

MangkirAbsent

Surat peringatan 11st Warning Letter

1

EtikaEthics

SkorsingSuspension

1

WBS is a system that has been developed by the Company and is used to receive, manage and follow up and contain reports on information submitted by reporters regarding violations that occur within the Company, namely acts that violate the Company's Standards of Conduct Guidelines carried out either by employees or leaders that can harm The Company and other stakeholders.

Company people who are proven to have violated the applicable Standards of Conduct Guidelines will be given sanctions in accordance with the policies and regulations in force. Actions take the form of giving verbal and written warnings to employees who commit violations.

SANCTIONS FOR VIOLATIONS

The Company will not tolerate matters related to integrity. That is why several critical aspects which are deemed necessary to be regulated in the Company's ethical standards as a code of conduct in dealing with stakeholders, both internal and external include:

1. Professional work attitude both as a leader and subordinate

2. Always conduct an ethics test when dealing with situations in dilemma

3. Dare to express problems4. Avoid discrimination5. Same career opportunity6. Free of Narcotics and illegal drugs7. Respect each other8. Limitation in political activities9. Keep company secrets10. Maintaining the Company's image11. Decision making is based on the interests of the Company

CODE OF ETHICS VIOLATION AMOUNT

As a realization of the enforcement of the Company's Standards of Conduct Guidelines, the following details of sanctions imposed related to the enforcement of the Code of Ethics during 2019:


Sebagai bagian dari transparansi yang dilakukan Perseroan, berikut disampaikan jumlah penyimpangan internal yang terjadi dan upaya penyelesaiannya.

Penyimpangan Internal dalam 1 TahunInternal Deviations in 1 Year

Jumlah Kasus yang Dilakukan olehNumber of Cases Committed by

ManajemenManagement

Pegawai TetapPermanent Employee

Pegawai Tidak TetapNon-permanent Employee

2019 2018 2019 2018 2019 2018

Telah DiselesaikanFinished

1 - 2 4 2 3

Dalam proses penyelesaian internalIn internal resolution process

- - - - - -

Belum diupayakan PenyelesaiannyaSettlement has not yet been sought

- - - - - -

Telah ditindaklanjuti melalui proses hukumHas been followed up through a legal process

- - - - - -

Jumlah PenyimpanganTotal Deviations 1 - 2 4 2 3

KAJIAN DAN EVALUASI MANAJEMEN

Manajemen Perseroan secara konsisten melakukan kajian dalam rangka mengevaluasi kinerja Perseroan, termasuk keterkaitan antara visi, misi dan budaya perusahaan serta kode etik dengan rencana jangka panjang dan profil risiko yang dihadapi Perseroan. Penerapan Pedoman Standar Perilaku juga menjadi kajian manajemen untuk menjadi salah satu perangkat evaluasi keorganisasian kelompok usaha Elnusa.

As part of the transparency carried out by the Company, the following is presented the number of internal irregularities that have occurred and their remedies.

MANAGEMENT STUDY AND EVALUATION

The Company's management consistently conducts studies in order to evaluate the Company's performance, including the relationship between the company's vision, mission and culture as well as the code of ethics with the long-term plan and risk profile faced by the Company. The application of the Code of Conduct Standards is also a management review to become one of the evaluation tools for the Elnusa business group organization.

PENGENDALIAN GRATIFIKASIGratification Control

Perseroan juga telah memiliki Pedoman Pengelolaan Gratifikasi di Lingkungan Perseroan dan Entitas Anak, sebagaimana diatur dalam Pedoman penerimaan dan pemberian hadiah/hiburan.

Di tahun 2019, Perseroan secara reguler melakukan sosialisasi Kebijakan Anti Gratifikasi kepada insan Perseroan maupun mitra kerja Perseroan.

The Company has a Gratification Management Guidelines within the Company and Subsidiaries, as stipulated in the Guidelines for receiving and giving gifts/entertainment.

In 2019, the Company regularly conducts Anti-Gratification Policy socialization to the Company employees’ and the Company's business partners.



INFORMASI PEMBERIAN DANA UNTUK KEGIATAN POLITIKFunding Information for Political Activities

Perseroan memiliki kebijakan untuk melarang keterlibatan individu atas nama Perseroan dalam kegiatan politik, termasuk memberikan donasi untuk kepentingan politik. Perseroan memiliki kebijakan untuk melarang keterlibatan individu atas nama Perseroan dalam kegiatan politik, termasuk memberikan donasi untuk kepentingan politik. Secara tegas, Perseroan tidak mengizinkan insan Elnusa menggunakan fasilitas atau sumber daya apapun untuk tujuan kampanye politik, penggalangan dana politik maupun untuk tujuan partisipasi politik. Sebagaimana yang telah diatur dalam Pedoman Standar Perilaku (Code of Conduct) Perseroan.

Sebaliknya, kepedulian yang tinggi terhadap masalah sosial dan kemasyarakatan merupakan bagian penting dari tugas dan tanggung jawab perusahaan terhadap masyarakat, yang diwujudkan melalui program-program Corporate Social Responsibility (CSR). Penjelasan lebih rinci tentang kegiatan CSR yang telah dilakukan Perseroan di sepanjang tahun 2019, serta nilai nominalnya dapat dilihat pada Bab Tanggung Jawab Sosial Perusahaan dalam Laporan Tahunan ini.

The Company has a policy to prohibit the involvement of individuals on behalf of the Company in political activities, including making donations for political purposes. The Company has a policy to prohibit the involvement of individuals on behalf of the Company in political activities, including making donations for political purposes. Strictly speaking, the Company does not allow Elnusa's people to use any facilities or resources for the purpose of political campaigns, for raising political funds or for the purpose of political participation. As regulated in the Company's Code of Conduct.

Conversely, high awareness of social and community issues is an important part of the company's duties and responsibilities to the community, which is realized through Corporate Social Responsibility (CSR) programs. A more detailed description of the CSR activities carried out by the Company throughout 2019, and their nominal value can be seen in the Corporate Social Responsibility Chapter in this Annual Report.

KEBIJAKAN ANTI KORUPSIAnti-Corruption Policy

Dewan Komisaris, Direksi, serta seluruh pegawai senantiasa menjunjung tinggi persaingan yang fair, nilai sportifitas dan profesionalisme, serta prinsip-prinsip GCG. Perseroan juga berkomitmen untuk menciptakan iklim usaha yang sehat, menghindari tindakan, perilaku ataupun perbuatan-perbuatan yang dapat menimbulkan konflik kepentingan, Korupsi, Kolusi dan Nepotisme (KKN) serta selalu mengutamakan kepentingan Perseroan di atas kepentingan pribadi, keluarga, kelompok ataupun golongan. Perseroan juga senantiasa memperhatikan kebijakan tentang anti korupsi seperti yang tertulis dalam Undang-Undang No. 20 Tahun 2001 tentang Perubahan atas Undang-Undang No. 31 Tahun 1999 tentang Pemberantasan Tindak Pidana Korupsi.

The Board of Commissioners, Directors, and all employees always uphold fair competition, sportsmanship and professionalism, as well as GCG principles. The Company is also committed to creating a healthy business climate, avoiding actions, behaviors or actions that can cause conflicts of interest, Corruption, Collusion and Nepotism (KKN) and always prioritize the interests of the Company above personal, family, group or group interests. The Company also always pays attention to anti-corruption policies as written in Law No. 20 of 2001 concerning Amendments to Law No. 31 of 1999 concerning Eradication of Corruption Crimes.


PENGELOLAAN BENTURAN KEPENTINGAN DAN HUBUNGAN DENGAN PIHAK BERELASI

Management of Conflicts of Interest and Relationships with Related Parties

Benturan kepentingan adalah terjadinya konflik antara kepentingan ekonomis Perseroan dengan kepentingan ekonomis pribadi, pemilik, anggota Dewan Komisaris, anggota Direksi, Pejabat Eksekutif, Pegawai dan/atau pihak terafiliasi dengan Perseroan. Pencegahan dan mekanisme terkait dengan benturan kepentingan diatur dalam: Anggaran Dasar, Board Manual, GCG Code, CoC serta pedoman khusus mengenai konflik kepentingan.

Prinsip dasar dari Benturan kepentingan adalah Seluruh Insan Elnusa yang karena jabatannya, apabila menemui potensi atau kondisi/situasi Konflik Kepentingan DILARANG meneruskan kegiatan/melaksanakan kewajiban terkait jabatannya tersebut.

Implementasi atas pelaksanaan ketentuan terkait dengan benturan kepentingan adalah sebagai barikut:1. Mencantumkan ketentuan terkait konflik kepentingan

sebagai bagian dari Code of Conduct Perusahaan.2. Menyampaikan informasi terkait ketentuan ini dalam sosialisasi

kepada seluruh pekerja maupun pihak ketiga secara reguler.3. Anggota Dewan Komisaris dan Direksi wajib menyampaikan

daftar khusus dan daftar hubungan afiliasi untuk dipublikasikan dalam laporan tahunan dan website Perseroan.

4. Jika terjadi kondisi Konflik Kepentingan, yang tidak terdapat/tidak diatur dalam ketentuan ini maka Insan Elnusa wajib membuat Surat Pernyataan Konflik Kepentingan terhadap kondisi tersebut disertai dengan disertai penjelasan yang disampaikan kepada atasan langsung atau pimpinan tertinggi setempat dan pihak ketiga apabila diperlukan.

Apabila terjadi situasi konflik kepentingan, maka Insan Elnusa wajib melaporkan hal tersebut melalui:1. Atasan Langsung

Pelaporan melalui atasan langsung dilakukan apabila pelapor adalah Insan Elnusa yang terlibat atau memiliki potensi untuk terlibat secara langsung dalam situasi konflik kepentingan. Pelaporan dilaksanakan dengan menyampaikan Surat Pernyataan Konflik Kepentingan.

2. Sistem Pelaporan Pelanggaran (Whistleblowing System) Pelaporan melalui Sistem Pelaporan Pelanggaran (Whistleblowing System) dilakukan apabila pelapor adalah Insan Elnusa atau pihak-pihak lainnya (Pelanggan, Mitra Kerja dan Masyarakat) yang tidak memiliki keterlibatan secara langsung, namun mengetahui adanya atau potensi adanya konflik kepentingan di Perusahaan. Pelaporan melalui Sistem Pelaporan Pelanggaran (Whistleblowing System) dilaksanakan sesuai dengan mekanisme dan syarat-syarat yang tercantum di dalam pedoman Sistem Pelaporan Pelanggaran (Whistleblowing System).

Setiap Insan Elnusa yang terbukti melakukan tindakan Konflik Kepentingan akan ditindaklanjuti berdasarkan peraturan dan ketentuan yang berlaku di Perusahaan.

Pada 2019, tidak terjadi peristiwa terkait benturan kepentingan yang dilakukan oleh Dewan Komisaris dan Direksi Perseroan.

Conflict of interest is a conflict between the economic interests of the Company and personal economic interests, owners, members of the Board of Commissioners, members of the Board of Directors, Executive Officers, Employees and/or affiliated parties with the Company. Prevention and mechanisms related to conflicts of interest are regulated in: Articles of Association, Board Manual, GCG Code, CoC as well as specific guidelines regarding conflicts of interest.

The basic principle of a Conflict of Interest is that all Elnusa Individuals who due to their position, if they encounter potential or condition/situation of Conflict of Interest are PROHIBITED from continuing/carrying out obligations related to their position.

The implementation of the provisions related to conflicts of interest are as follows:1. Include provisions related to conflicts of interest as part of

the Company's Code of Conduct.2. Convey information related to this provision in the socialization

to all workers and third parties on a regular basis.3. Members of the Board of Commissioners and Directors must

submit a special list and list of affiliation relationships to be published in the annual report and the Company's website.

4. In the event of a Conflict of Interest condition, which is not/is not regulated in this provision, Elnusa's People shall make a Declaration of Conflict of Interest regarding these conditions accompanied by an explanation to be conveyed to the direct supervisor or local supreme leader and third parties if necessary.

If there is a conflict of interest situation, then Elnusa's People must report the matter through:1. Direct Supervisor

Reporting through direct supervisors is done if the reporter is an Elnusa Individual who is involved or has the potential to be directly involved in a conflict of interest situation. Reporting is carried out by submitting a Conflict of Interest Statement.

2. Whistleblowing System Reporting through the Whistleblowing System is done if the reporter is an Elnusa Individual or other parties (Customers, Work Partners and the Community) who do not have direct involvement, but are aware of the existence or potential of the existence conflict of interest in the Company. Reporting through the Whistleblowing System is carried out in accordance with the mechanisms and requirements listed in the Whistleblowing System guidelines.

Every Elnusa Individual who is proven to have committed a Conflict of Interest will be followed up based on the rules and regulations applicable in the Company.

In 2019, there was no event related to conflicts of interest by the Company's Board of Commissioners and Directors.



KEBIJAKAN PENGADAAN BARANG DAN JASAGoods and Services Procurement Policy

Dalam rangka menjaga kinerja operasionalnya Perseroan, memberikan perhatian besar kepada seluruh mitra kerja pemasok agar dapat memberikan pelayanan terbaik untuk mendukung seluruh kegiatan operasional Elnusa. Dimulai sejak pendaftaran untuk menjadi mitra kerja Elnusa, Perusahaan menerapkan kriteria khusus guna memilih hanya perusahaan yang berkualitas saja yang dapat bermitra dengan Elnusa.

Setelah mendapatkan informasi yang cukup tentang profil suatu perusahaan yang akan mendaftar sebagai rekanan Elnusa, tim Elnusa melakukan visit kepada perusahaan tersebut guna memastikan legalitas dan kompetensi yang dimiliki sesuai dengan standard yang dibutuhkan. Selain itu, juga memastikan fasilitas penunjang yang dimiliki apakah sudah sesuai dengan bisnis yang ditawarkan.

Sebelum menjadi mitra Elnusa yang melakukan pekerjaan dengan resiko tinggi, perusahaan harus melalui tahapan prakualifikasi Contractor Safety Management System (CSMS) & Contractor Quality Management System (CQMS) dan memiliki nilai cukup untuk tercatat mendapatkan nomor identifikasi dan menjadi Approved Vendor List Elnusa. Prakulifikasi CSMS adalah suatu metode pengukuran bagaimana suatu perusahaan mengelola day to day operasional mereka sesuai dengan prinsip-prinsip Kesehatan dan Keselamatan Kerja (K3) dan memenuhi persyaratan kinerja K3 yang diterapkan oleh Elnusa. Sedangkan Prakualifikasi CQMS adalah suatu metode pengukuran bagaimana suatu perusahaan mengelola day to day operasional mereka sesuai dengan prinsip-prinsip kualitas kerja dan memenuhi persyaratan kinerja yang diterapkan oleh Elnusa.

CONTRACT REVIEW MEETING (CRM)

Contract Review Meeting (CRM) dilakukan dengan tujuan melakukan review secara strategic terhadap kinerja mitra Elnusa dalam memenuhi Service Level Agreement (SLA) yang disepakati sesuai kontrak yang sudah didapatkan. CRM dapat dilakukan maksimum per 3 bulan sesuai dengan kompleksitas pekerjaannya, sehingga diharapkan mitra kerja melakukan pekerjaan sesuai prinsip-prinsip kualitas agar pekerjaan dapat selesai tepat waktu dan memberikan kinerja yang optimal sesuai kontrak.

In order to maintain its operational performance, the Company pays great attention to all supplier partners in order to provide the best service to support all of Elnusa's operational activities. Beginning with registration to become an Elnusa partner, the Company applies specific criteria to select only quality companies that can partner with Elnusa.

After getting sufficient information about the profile of a company that will register as an Elnusa partner, the Elnusa team visits the company to ensure that their legality and competence are in accordance with the required standards. In addition, it also ensures that the supporting facilities it has are in accordance with the business offered.

Before becoming an Elnusa partner that carries out high-risk work, the company must go through the pre-qualification stages of the Contractor Safety Management System (CSMS) & Contractor Quality Management System (CQMS) and have enough value to be recorded to get an identification number and become an Elnusa Approved Vendor List. CSMS pre-qualification is a method of measuring how a company manages their operational day-to-day in accordance with the principles of Occupational Health and Safety (K3) and meets the OHS performance requirements applied by Elnusa. Whereas the CQMS Prequalification is a method of measuring how a company manages their operational day to day in accordance with the principles of work quality and meets the performance requirements applied by Elnusa.

CONTRACT REVIEW MEETING (CRM)

Contract Review Meeting (CRM) is conducted with the aim of conducting a strategic review of the performance of Elnusa's partners in meeting the agreed Service Level Agreement (SLA) in accordance with the contract that has been obtained. CRM can be done a maximum of 3 months in accordance with the complexity of the work, so that partners are expected to do work according to quality principles so that the work can be completed on time and provide optimal performance according to the contract.


WORK IN PROGRESS (WIP)

Setelah melalui proses pengadaan dan mitra kerja mendapatkan award untuk menjalankan suatu pekerjaan di lingkungan Elnusa, dalam jangka waktu tertentu Elnusa melakukan review atas pekerjaan yang dilakukan perusahaan dengan melihat secara langsung pelaksanaan pekerjaan di lapangan, dengan tujuan untuk memastikan bahwa pekerjaan yang dilakukan oleh mitra kerja telah sesuai dengan HSE Plan yang disepakati atau disetujui oleh Perusahaan. Termasuk bila HSE Plan tersebut telah direvisi, serta untuk menguji apakah semua kewajiban keselamatan kesehatan kerja dan lindungan lingkungan yang tertera di dalam kontrak sudah dilaksanakan oleh mitra kerja sebagai mana mestinya. Review tersebut akan memastikan perusahaan melakukan pekerjaan sesuai prinsip-prinsip kualitas yang sudah di tentukan oleh CQMS dan K3LL agar pekerjaan dapat selesai tanpa kecelakaan dan mendapatkan hasil yang sesuai dengan rencana operasional. Pelaksanaan WIP ini dihadiri oleh perwakilan dari Operations, SCM, dan ECQM dan HSSE.

DEMAND & SUPPLY ANALISYS

Dari waktu ke waktu Elnusa selalu melakukan analisis terhadap demand dan kinerja supply yang terjadi dalam operasionalnya. Analisis tersebut digunakan untuk menentukan kebijakan pengadaan yang tepat untuk semua kebutuhan operasional Elnusa, sehingga tujuan kinerja SCM yang semakin baik, cepat, murah, dan dekat (better, faster, cheaper, closer) dapat tercapai.

TRANSPORTATIONDalam hal proses custom clearance, Elnusa membuat perbaikan atau improvement sehingga proses lead time custom clearance dapat dipercepat. Dampaknya adalah cost untuk storage menjadi berkurang dan pengiriman dapat di reduce lead time nya.

INVENTORY MANAGEMENTElnusa menerapkan manajemen persediaan yang tepat, guna melayani kebutuhan operasional perusahaan tanpa harus menumpuk banyak stok. Secara total nilai inventori 2018 dibandingkan dengan tahun sebelum nya mengalami kenaikan sebesar 12%. Hal ini lebih disebabkan oleh meningkat nya aktifitas bisnis unit EWL yang membutuhkan bahan peledak sebagai material utama. Tetapi material non handak mengalami penurunan yang signifikan. Salah satu penyebab nya karena Elnusa sudah menerapkan penyimpanan barang di vendor sehingga level inventory dapat ditekan.

WORK IN PROGRESS (WIP)

After going through the procurement process and the partners get an award to carry out a job in the Elnusa environment, within a certain period Elnusa conducts a review of the work carried out by the company by looking directly at the implementation of work in the field, with the aim to ensure that the work carried out by the work partners has been in accordance with the HSE Plan agreed or approved by the Company. Including if the HSE Plan has been revised, as well as to test whether all occupational health and safety protection obligations listed in the contract have been carried out by the work partner as appropriate. The review will ensure that the company does the work according to the quality principles set by CQMS and K3LL so that the work can be completed without an accident and get results in accordance with operational plans. The implementation of the WIP was attended by representatives from Operations, SCM and ECQM and HSSE.

DEMAND & SUPPLY ANALYIS

From time to time Elnusa always analyzes the demand and supply performance that occurs in its operations. The analysis is used to determine the right procurement policy for all of Elnusa's operational needs, so that SCM performance objectives that are getting better, faster, cheaper, and closer (better, faster, cheaper, closer) can be achieved.

TRANSPORTATIONIn terms of the custom clearance process, Elnusa makes improvements or improvements so that the custom clearance lead time process can be accelerated. The impact is that storage costs are reduced and shipping can reduce lead times.

INVENTORY MANAGEMENTElnusa implements appropriate inventory management, in order to serve the operational needs of the company without having to accumulate large stocks. In total, the 2018 inventory value compared to the previous year increased by 12%. This is more due to the increased activity of the EWL business unit which requires explosives as the main material. But non-explosive material experienced a significant decrease. One reason is because Elnusa has implemented storage of goods at vendors so that inventory levels can be reduced.



WAREHOUSE MANAGEMENTPada tahun 2019, Elnusa melakukan optimalisasi warehouse dengan menjaga keseimbangan utilisasi kapasitas seluruh warehouse di lahan milik sendiri, dan membagi fungsi warehouse berdasarkan peruntukannya, yaitu maintenance dan storage warehouse. Peningkatan Implementasi 5R di setiap area warehouse menjadi supporting tools dari proses optimalisasi ini.

SCM ONLINESalah satu program pengembangan dari SCM adalah sudah dibuat kan sistem terintegrasi dalam satu platform yaitu SCM Online. Dimana di dalam tools ini semua kegiatan pengadaan barang dan jasa dari awal request sampai closing dapat dilakukan dalam satu pintu saja, yaitu SCM Online. Dasboard di dalam SCM online dapat mengidentifikasi segala kegiatan di dalam SCM.

VENDOR PERFORMANCE EVALUATIONMitra Kerja di Elnusa di kelompokan menjadi 3 segment sesuai dengan kompetensi nya yaitu Strategic (memiliki kontrak jangka panjang), Preffered (biasa digunakan untuk kegiatan operasional) dan Indirect Operation (bersifat transaksi tidak rutin atau one time PO). Sepanjang perjalanan operasionalnya mitra kerja elnusa selalu dilakukan penilaian atas performance kinerja mereka. Pengukuran kinerja dilakukan sejak perusahaan mendapatkan pekerjaan hingga selama menyelesaikan pekerjaan dari elnusa.

VENDOR ANNUAL MEETINGDalam waktu sekali dalam satu tahun seluruh mitra kerja elnusa berkumpul untuk mendapatkan insight dari top management Elnusa mengenai kinerja perusahaan dan strategi bisnis Perusahaan ke depan. Sehingga diharapkan mitra kerja bisa menangkap potensi bisnis tersebut, memberikan pelayanan terbaik, dan bersama elnusa meraih kesuksesan ditahun-tahun mendatang. Pada event ini Elnusa juga memberikan award kepada mitra kerja yang sudah memberikan kinerja terbaik, sesuai kualifikasi bidang masing- masing.

WAREHOUSE MANAGEMENTIn 2019, Elnusa optimizes the warehouse by maintaining the balance of capacity utilization of all warehouses on its own land, and divides warehouse functions based on their designation, namely maintenance and storage warehouse. Improved Implementation of 5R in each warehouse area is a supporting tool for this optimization process.

SCM ONLINEOne of the development programs of SCM is that an integrated system has been created in one platform, namely SCM Online. Where in this tool all goods and services procurement activities from initial request to closing can be done in one door, namely SCM Online. The dashboard in SCM online can identify all activities in SCM.

VENDOR PERFORMANCE EVALUATIONPartners in Elnusa are grouped into 3 segments according to their competencies, namely Strategic (having a long-term contract), Preffered (commonly used for operational activities) and Indirect Operations (non-routine transactions or one time PO). Throughout its operational journey, Elnusa's partners are always assessed their performance. Performance measurement is carried out since the company gets a job up to when completing work from Elnusa.

VENDOR ANNUAL MEETINGOnce a year all elnusa partners gather to get insights from Elnusa's top management regarding the company's performance and the Company's business strategy going forward. So it is expected that partners can capture the business potential, provide the best service, and with elnusa achieve success in the coming years. In this event Elnusa also gave awards to partners who had given the best performance, according to the qualifications of their respective fields.


WHISTLEBLOWING SYSTEMWHISTLEBLOWING SYSTEM

Sebagai upaya untuk mendukung penerapan tata kelola perusahaan yang baik, Perseroan mengimplementasikan Sistem Pelaporan Pelanggaran atau Whistleblowing System (WBS) dalam rangka mencegah terjadinya tindak kecurangan dengan melaporkan kejadian perilaku pelanggaran serta mendorong budaya kejujuran dan keterbukaan. Penerapan WBS bermanfaat untuk pengembangan sistem pelaporan pelanggaran yang terkelola dengan baik, yang dapat menjadi fondasi bagi Perseroan untuk merancang evaluasi dan tindak lanjut yang diperlukan. WBS juga menjadi bagian dari mekanisme deteksi dini (early warning system) atas kemungkinan terjadinya masalah akibat sebuah pelanggaran. Bagi pelapor, WBS memberikan jaminan perlindungan dan kerahasiaan identitas.

PENETAPAN PEDOMAN S ISTEM PELAPORAN PELANGGARAN ELNUSA

Sistem pelaporan pelanggaran/Whistleblowing System (WBS) Perseroan adalah sistem yang mengelola pengaduan atas pelanggaran dan atau penyimpangan kode etik, hukum, standar prosedur, kebijakan manajemen serta aturan lainnya yang dipandang perlu, dimana dapat merugikan dan/atau membahayakan Perseroan seperti kerugian finansial, lingkungan, kondisi kerja, reputasi organisasi, pemangku kepentingan dan lainnya.

Informasi yang diperoleh dari WBS akan ditindaklanjuti baik dengan pengenaan sanksi yang tegas dan konsisten agar dapat menimbulkan efek jera bagi pelaku pelanggaran maupun bagi mereka yang berniat melakukan hal sama dan dapat menjadi masukan untuk perbaikan sistem bagi Perusahaan ke depannya.

MEKANISME PENYAMPAIAN PELAPORAN

Perseroan telah menyediakan berbagai media untuk mengakomodir para pemangku kepentingan dalam menyampaikan laporannya jika diduga telah terjadi pelanggaran yang dilakukan oleh karyawan Perseroan dengan mekanisme sebagai berikut:1. Website Perseroan : Whistleblower System Center

(https://whistleblower.elnusa.co.id/)2. Telepon: 021.78830850 ext 16233. Menyampaikan surat resmi kepada:PT Elnusa Tbk up. Ketua Dewan Etika & GCGGraha Elnusa Lantai 16, Jl. TB Simatupang Kav. 1B, Cilandak, Jakarta Selatan

Berikut ini adalah ketentuan pelapor:Pelaporan dapat dilakukan secara anonim maupun dilengkapi dengan identitas pelapor dengan memberikan rekomendasi atau bukti awal dugaan sementara praktik pelanggaran.

In an effort to support the implementation of good corporate governance, the Company implements a Whistleblowing System (WBS) in order to prevent fraud by reporting incidents of violation behavior and fostering a culture of honesty and openness. The application of WBS is beneficial for the development of a well-managed violation reporting system, which can be the foundation for the Company to design the necessary evaluations and follow-up. WBS is also part of the early warning system for possible problems caused by a violation. For reporters, WBS provides guaranteed protection and confidentiality of identity.

ESTABLISHMENT OF ELNUSA VIOLATION REPORTING SYSTEM GUIDELINES

Violation reporting system/Whistleblowing System (WBS) of the Company is a system that manages complaints of violations and or deviations of code of ethics, law, standard procedures, management policies and other rules deemed necessary, which can harm and/or endanger the Company such as financial losses, the environment , working conditions, organizational reputation, stakeholders and others.

Information obtained from WBS will be followed up with the imposition of strict and consistent sanctions in order to have a deterrent effect for violators and for those who intend to do the same and can be input for improving the system for the Company going forward.

REPORT SUBMISSION MECHANISM

The Company has provided various media to accommodate stakeholders in submitting their reports if a violation is committed by the Company's employees with the following mechanism:

1. Company Website: Whistleblower System Center(https://whistleblower.elnusa.co.id/)

2. Telephone: 021.78830850 ext 16233. Delivering an official letter to:

PT Elnusa Tbk up. Chairperson of the Ethics & GCG BoardGraha Elnusa Lantai 16, Jl. TB Simatupang Kav. 1B, Cilandak, South Jakarta

The following are the conditions of the reporter:1. Reporting can be done anonymously or supplemented with

the identity of the reporter by providing recommendations or preliminary evidence of provisional allegations of violation practices.



4. Pelapor dapat membatasi identifikasi mengenai identitas yang bersangkutan dengan tetap menyertakan bukti yang berkaitan dengan dugaan sementara praktik pelanggaran.

5. Tidak ada hukuman yang dijatuhkan kepada pihak pelapor jika pelanggaran tersebut terbukti benar terjadi. Apabila yang bersangkutan juga terlibat dalam pelanggaran, laporan yang disampaikan dapat dipertimbangkan untuk mengurangi/ meniadakan hukuman.

6. Kerahasiaan pelapor akan dijaga kecuali apabila pengungkapan tersebut diperlukan dalam kaitan dengan penyelidikan yang dilakukan oleh pihak yang berwenang atau diperlukan untuk mempertahankan posisi Perusahaan di depan hukum.

7. Mekanisme di atas tidak dimaksudkan untuk menyampaikan keluhan pribadi.

PENGELOLAAN PELAPORAN PELANGGARAN

Sistem pelaporan pelanggaran Perseroan dikelola oleh fungsi Corporate Secretary selaku sekretaris Dewan Etika & GCG dengan mekanisme sebagai berikut:1. Pengelola WBS menerima laporan pelanggaran dan

melakukan verifikasi atas laporan yang masuk.2. Pengelola WBS akan menentukan apakah masih diperlukan

informasi atau bukti tambahan lebih lanjut.3. Laporan yang telah diverifikasi selanjutnya diserahkan

kepada Dewan Etika & GCG

PENANGANAN PELAPORAN

1. Dewan Etika & GCG akan melakukan investigasi atas laporan pengaduan yang telah diverifikasi oleh Pengelola WBS.

2. Jika pengaduan tidak terbukti benar, maka tidak dilakukan proses lebih lanjut.

3. Apabila laporan atas pelanggaran valid dan telah terbukti, maka Dewan Etika & GCG akan memberikan laporan serta rekomendasi kepada pihak yang berwenang (manajemen terkait atasan Terlapor untuk melaksanakan tindakan koreksi.

2. The whistleblower can limit identification regarding the identity of the person concerned by continuing to include evidence relating to the alleged temporary violation practice.

3. No penalty is given to the whistleblower if the violation is proven to occur. If the person involved is also involved in the violation, the report submitted can be considered to reduce/eliminate the penalty.

4. Confidentiality of the whistleblower will be maintained unless the disclosure is required in connection with an investigation conducted by an authorized party or is needed to maintain the Company's position before the law.

5. The above mechanism is not intended to convey personal complaints.

MANAGEMENT OF VIOLATION REPORTS

The Company's violation reporting system is managed by the Corporate Secretary function as the secretary of the Ethics & GCG Board with the following mechanism:1. The WBS manager receives reports of violations and verifies

the incoming reports.2. The WBS manager will determine whether further

information or additional evidence is needed.3. The verified report is then submitted to the Ethics & GCG

Board

REPORT HANDLING

1. The Ethics & GCG Board will investigate the complaint report that has been verified by the WBS Manager.

2. If the complaint is not proven to be true, then no further process is carried out.

3. If the report on a violation is valid and has been proven, the Ethics & GCG Board will provide a report and recommendation to the appropriate authorities (management related to the Reported Party's superior to carry out corrective actions.


PERLINDUNGAN PELAPOR

1. Pelapor dapat dilakukan secara anonim maupun dilengkapi dengan identitas pelapor dengan memberikan rekomendasi atau bukti awal dugaan sementara praktik pelanggaran.

2. Pelapor dapat membatasi identifikasi mengenai identitas yang bersangkutan dengan tetap menyertakan bukti yang berkaitan dengan dugaan sementara praktik pelanggaran.

3. Tidak ada hukuman yang dijatuhkan kepada pihak pelapor jika pelanggaran tersebut terbukti benar terjadi. Apabila yang bersangkutan juga terlibat dalam pelanggaran, laporan yang disampaikan dapat dipertimbangkan untuk mengurangi/ meniadakan hukuman.

4. Kerahasiaan pelapor akan dijaga kecuali apabila pengungkapan tersebut diperlukan dalam kaitan dengan penyelidikan yang dilakukan oleh pihak yang berwenang atau diperlukan untuk mempertahankan posisi Perusahaan di depan hukum.

SANKSI ATAS PELANGGARAN

1. Sanksi terdiri dari dua jenis, yaitu sanksi moral dan sanksi administratif.

2. Bentuk sanksi moral meliputi:a. Diumumkan secara terbuka;b. Meminta maaf secara terbatas dan/atau terbuka;c. Mengundurkan diri dari jabatannya.

3. Bentuk sanksi administratif adalah sebagaimana ditetapkan dalam Kebijakan Human Resources Management dan Peraturan Perusahaan yang berlaku

4. Jika terdapat indikasi pelanggaran pidana, akan diteruskan sesuai dengan ketentuan hukum yang berlaku.

PELAPORAN PELANGGARAN TAHUN 2019DAN TINDAK LANJUT

Sepanjang tahun 2019, tidak terdapat pengaduan pelanggaran yang masuk atau diterima Perseroan melalui kanal WBS.

REPORTER PROTECTION

1. Reporting can be done anonymously or complemented by the identity of the reporter by providing recommendations or preliminary evidence of provisional allegations of violation practices.

2. The whistleblower can limit identification regarding the identity of the person concerned by continuing to include evidence relating to the alleged temporary violation practice.

3. No penalty is given to the reporting party if the violation is proven to occur. If the person involved is also involved in the violation, the report submitted can be considered to reduce/eliminate the penalty.

4. Confidentiality of the whistleblower will be maintained unless the disclosure is required in connection with an investigation conducted by an authorized party or is needed to maintain the Company's position before the law.

SANCTIONS FOR VIOLATIONS

1. Sanctions are of two types, namely moral sanctions and administrative sanctions.

2. Forms of moral sanctions include:a. Announced publicly;b. Apologize in a limited and/or open manner;c. Resign from his position.

3. The form of administrative sanctions is as stipulated in the Human Resources Management Policy and applicable Company Regulations

4. If there are indications of criminal violations, will be continued in accordance with applicable legal provisions.

REPORTED VIOLATIONS IN 2019 AND FOLLOW UP

During 2019, there were no complaints of violations received by the Company through the WBS channel.



TRANSPARANSI PRAKTIK BAD GOVERNANCEBad Governance Practice Transparency

LAPORAN ATAS AKTIVITAS PERSEROAN YANG MENCEMARI LINGKUNGAN

Sepanjang tahun 2019, tidak terdapat laporan dari pihak lain atas aktivitas Perseroan yang mencemari lingkungan. Dalam kegiatan operasionalnya, Elnusa senantiasa menjaga komitmennya terhadap lingkungan yang berpedoman pada Analisis Mengenai Dampak Lingkungan (AMDAL).

PENGUNGKAPAN PEMENUHAN KEWAJIBAN PERPAJAKAN

PUBLIKASI KEPATUHAN PAJAKSebagai salah satu perwujudan tata kelola perusahaan yang baik, Elnusa mengelola hak dan kewajiban perpajakan secara patuh, transparan dan akuntabel sesuai dengan peraturan perundang-undangan perpajakan yang berlaku. Pada periode 2019, tidak terdapat ketidakpatuhan Elnusa dalam kewajiban membayar pajak.

PUBLIKASI PEMBAYARAN PAJAKElnusa sebagai Wajib Pajak yang terdaftar di Indonesia mempunyai kewajiban melakukan kontribusi langsung kepada negara melalui pembayaran pajak. Berikut ini adalah kontribusi pembayaran pajak Elnusa kepada negara selama tahun 2018 dan 2019.

(dalam satuan rupiah penuh)(in full rupiah units)

No. Jenis Pajak Types of Tax 2019 2018

1. Withholding Tax 393.227.658.674 293.124.329.941

2. Prepaid Tax 96.178.534.729 111.265.196.518

3. Corporate Income Tax 30.866.840.502 50.343.225.154

4. Value Added Tax 864.194.253.465 648.812.778.759

5. Custom 12.721.942.500 14.872.205.141

6. Regional Tax 74.661.038.298 62.449.958.130

JumlahTotal 1.471.850.268.168 1.180.867.693.643

REPORT ON THE COMPANY'S ACTIVITIES THAT POLLUTE THE ENVIRONMENT

During 2019, there was no reports from other parties regarding the Company's activities that pollute the environment. In its operational activities, Elnusa always maintains its commitment to the environment which is guided by the Environmental Impact Analysis (AMDAL).

DISCLOSURE ON FULFILLMENT OF TAX OBLIGATIONS

PUBLICATION OF TAX COMPLIANCEAs one of the manifestations of good corporate governance, Elnusa manages tax rights and obligations in a complient, transparent and accountable manner in accordance with applicable tax laws and regulations. In 2019, there was no Elnusa non-compliance with tax obligations.

PUBLICATION OF TAX PAYMENTElnusa as a taxpayer registered in Indonesia has the obligation to make direct contributions to the country through tax payments. The following are the contributions of Elnusa tax payments to the state during 2018 and 2019.


KETIDAKSESUAIAN PENYAJIAN LAPORAN TAHUNAN DAN LAPORAN KEUANGAN DENGAN PERATURAN YANG BERLAKU DAN STANDAR AKUNTASI KEUANGAN (SAK)

Seluruh penyajian informasi dalam Laporan Tahunan ini, khususnya terkait kinerja keuangan dan hal-hal lainnya, mengacu pada Laporan Keuangan untuk tahun-tahun yang berakhir 31 Desember 2018 dan 31 Desember 2019 yang telah diaudit oleh Kantor Akuntan Publik Purwantono, Sungkoro & Surja Penyajian, dan pengungkapan laporan keuangan konsolidasian Perseroan disusun dan disajikan sesuai Standar Akuntansi Keuangan di Indonesia, yaitu Pernyataan Standar Akuntansi Keuangan (PSAK), yang diterbitkan oleh Ikatan Akuntan Indonesia (IAI) dan Peraturan Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) No. VIII.G.7 tentang Pedoman Penyajian Laporan Keuangan, dengan Surat Keputusan Ketua Bapepam-LK No. KEP-347/BL/2012 tentang Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik.

KASUS TERKAIT DENGAN BURUH DAN KARYAWAN

Sepanjang tahun 2019, tidak terdapat kasus yang bersifat material dengan karyawan maupun Serikat Pekerja Perusahaan.

PENGUNGKAPAN SEGMEN OPERASIPADA LAPORAN KEUANGAN

Sebagaimana yang tercantum dalam PSAK No. 5 (Penyesuaian 2015) tentang Segmen Operasi dan untuk kepentingan manajemen, Perseroan telah menyajikannya menurut pengelompokkan (segmen) jenis usaha sebagai bentuk pelaporan segmen primer dan segmen sekunder, seperti yang telah disampaikan dalam Laporan Keuangan Teraudit tahun 2019 catatan 32.

KESESUAIAN BUKU LAPORAN TAHUNAN DAN LAPORAN TAHUNAN DIGITAL

Laporan Tahunan digital Perseroan baik yang disampaikan kepada pemegang saham, pemangku kepentingan, maupun yang telah diunggah pada situs web resmi Perseroan telah sesuai dengan buku Laporan Tahunan yang dicetak dan diterbitkan oleh Perseroan.

DISCREPANCY IN PRESENTATION OF ANNUAL REPORTS AND FINANCIAL STATEMENTS WITH APPLICABLE REGULATIONS AND FINANCIAL ACCOUNTING STANDARDS (SAK)

All information presented in this Annual Report, specifically related to financial performance and other matters, refers to the Financial Statements for the years ended December 31, 2018 and December 31, 2019 which have been audited by the Public Accountant Office Purwantono, Sungkoro & Surja Presentation and disclosure of the Company's consolidated financial statements prepared and presented in accordance with Indonesian Financial Accounting Standards, the Statement of Financial Accounting Standards (PSAK), issued by the Indonesian Institute of Accountants (IAI) and Capital Market and Financial Institution Supervisory Agency Regulation (Bapepam-LK) No. VIII.G.7 concerning Guidelines for the Presentation of Financial Statements, by Decree of the Chairman of Bapepam-LK No. KEP-347/BL/2012 concerning Presentation and Disclosure of Financial Statements of Issuers or Public Companies.

CASES REGARDING LABOR AND EMPLOYEES

Throughout 2019, there were no material cases with employees or the Company Workers Union.

DISCLOSURE OF OPERATING SEGMENTS IN FINANCIAL STATEMENTS

As stated in PSAK No. 5 (2015 Adaptation) concerning Operating Segments and for the benefit of management, the Company has presented them according to the classification of business types as a form of primary segment and secondary segment reporting, as presented in the 2019 Audited Financial Statements notes 32.

SUITABILITY OF ANNUAL REPORT AND DIGITAL ANNUAL REPORT

The Company's digital Annual Reports, both submitted to shareholders, stakeholders, as well as those uploaded on the official website of the Company are in accordance with the Annual Report book that is printed and published by the Company.



KESESUAIAN PENERAPAN TATA KELOLA PERUSAHAAN TERHADAP ASEAN CORPORATE GOVERNANCE SCORECARD (ACGS)Conformity of the Implementation of Corporate Governance to the Asean Corporate Governance Scorecard (ACGS)

ASEAN CG Scorecard adalah suatu alat kuantitatif untuk mengukur kepatuhan perusahaan-perusahaan terbuka di ASEAN terhadap pedoman corporate governance menurut praktik-praktik keteladanan berbasis standar-standar internasional, khususnya prinsip-prinsip corporate governance yang dikeluarkan oleh the Organization for Economic Cooperation and Development (OECD) yang diungkapkan sebagai berikut:1. Hak-Hak Para Pemegang Saham2. Perlakuan yang Setara terhadap Para Pemegang Saham3. Peran Para Pemangku Kepentingan4. Pengungkapan dan Transparansi5. Tanggung Jawab Dewan

Dalam rangka memperkuat prinsip-prinsip GCG yang terdapat dalam standard ASEAN CG Scorecard, perusahaan berinisiatif membangun upaya-upaya perbaikan terhadap kinerja tingkat kepatuhannya secara terukur dan terencana. Oleh karena itu, perusahaan memandang perlunya suatu referensi yang dapat digunakan sebagai acuan dalam mempersiapkan strategi yang efektif dalam rangka melakukan upaya perbaikan terhadap kinerja praktik GCG ke depan.

Atas dasar tersebut, perusahaan memandang penting agar dilakukan penilaian rutin terhadap praktik GCG perusahaan berdasarkan standard Internasional yang diadopsi dari prinsip-prinsip corporate governance yang dikeluarkan oleh the Organization for Economic Cooperation and Development (OECD), dan tertuang dalam prinsip-prinsip GCG yang diatur dalam ASEAN CG Scorecard.

Selanjutnya, hasil penilaian rutin terhadap praktik GCG tersebut diharapkan dapat memberikan informasi kepada perusahaan mengenai trend perbaikan kinerja tingkat kepatuhan yang telah dicapai perusahaan dibandingkan dengan kinerja yang telah dilakukan perusahaan pada tahun-tahun sebelumnya, sehingga untuk ke depannya dapat diketahui mengenai langkah-langkah atau upaya apa saja yang masih harus diperbaiki lagi oleh perusahaan agar kinerja tingkat kepatuhannya dapat lebih dioptimalkan lagi pencapaiannya.

Untuk terus mempertahankan dan utamanya meningkatkan penerapan prinsip GCG, Perseroan telah membuat referensi silang terhadap penilaian ACGS untuk mempermudah perolehan data, sebagai berikut:

The ASEAN CG Scorecard is a quantitative tool to measure the compliance of public companies in ASEAN to corporate governance guidelines according to exemplary practices based on international standards, specifically the principles of corporate governance issued by the Organization for Economic Cooperation and Development (OECD) which is disclosed as follows:

1. Rights of Shareholders2. Equal Treatment of Shareholders3. The Role of Stakeholders4. Disclosure And Transparency5. Board Responsibilities

In order to strengthen the principles of good corporate governance contained in the ASEAN CG Scorecard standard, the company took the initiative to develop efforts to improve the level of compliance performance in a measured and planned manner. Therefore, the company sees the need for a reference that can be used as a reference in preparing an effective strategy in order to make improvements to the performance of GCG practices going forward.

On this basis, the company deems it necessary to conduct a routine assessment of corporate GCG practices based on international standards adopted from the principles of corporate governance issued by the Organization for Economic Cooperation and Development (OECD), and contained in the GCG principles set out in ASEAN CG Scorecard.

Furthermore, the results of the routine assessment of the GCG practices are expected to provide information to the company regarding the trend of improvement in the level of compliance performance that the company has achieved compared to the performance that the company has done in previous years, so that in the future it can be known what steps or efforts alone that still needs to be improved by the company so that its compliance level performance can be further optimized.

To continue to maintain and primarily improve the application of GCG principles, the Company has made cross references to the ACGS assessment to facilitate data acquisition, as follows:


PRINSIP A: HAK-HAK PEMEGANG SAHAM

SKOR CG UNTUK PRINSIP RIGHTS OF S.H.AREHOLDERSCG SCORE FOR RIGHTS OF S.H.AREHOLDERS PRINCIPLE

NoParameter PenentuDefining Parameter

Jumlah Kepatuhan terhadap Pertanyaan pada tiap

ParameterNumber of Compliance with Questions in each Parameter

Jumlah PertanyaanNumber of Questions

Skor per KomponenScore per

Component

1. Hak Dasar Pemegang SahamBasic Perusahaan. Rights of Shareholders

1 1 100%

2Hak berpatisipasi dalam keputusan-keputusan terkait perubahan-perubahan mendasar korporasi.Th. right to participate in decisions related to fundamental corporate changes.

3 3 100%

3

Hak untuk berpartisipasi secara efektif dan menggunakan suara dalam RUPS serta hak untuk mendapatkan informasi mengenai aturan-aturan yang berlaku dalam RUPS (termasuk prosedur voting).The right to participate effectively and vote in the GMS and the right to obtain information about the rules that apply in the GMS (including voting procedures).

15 15 100%

4Pasar untuk pengendalian/kontrol perusahaan seharusnya dimungkinkan berfungsi dengan cara yang efisien dan transparan.The market for corporate control should be enabled to function in an efficient and transparent manner.

1 1 100%

5Pelaksanaan hak kepemilikan pemegang saham, termasuk investor institusi difasilitasi perusahaan.The exercise of shareholder ownership rights, including institutional investors, is facilitated by the company.

0 1 0%

TOTAL PERTANYAAN YANG COMPLY DENGAN PRINSIP RIGHTS OF S.H.AREHOLDERSTOTAL QUESTIONS THAT COMPLIED WITH THE PRINCIPLE OF RIGHTS OF S.H.AREHOLDERS

20 21 95,24%

PRINSIP B - PERLAKUAN SETARA TERHADAP PEMEGANG SAHAM

SKOR CG UNTUK PRINSIP EQUITABLE TREATMENT OF S.H.AREHOLDERSCG SCORE FOR EQUITABLE TREATMENT OF S.H.AREHOLDERS PRINCIPLE

No.

Parameter PenentuDefining Parameter

Jumlah Kepatuhan terhadap Pertanyaan pada

tiap ParameterNumber of Compliance with Questions in each

Parameter


Skor per KomponenScore per Component

1. Kepemilikan Saham dan Hak SuaraShare Ownership and Voting Rights

1 1 100%

2. Panggilan RUPSTSummons for AGMS

3 5 60%

3. Perdagangan orang dalam dan self- dealing abusif seharusnya dilarangInsider trading and abusive self-dealing should be prohibited

2 2 100%

4. Transaksi pihak berelasi yang dilakukan oleh anggota Dewan komisaris & DireksiRelated party transactions conducted by members of the Board of Commissioners & Directors

3 4 75%

5Perlindungan kepada para pemegang saham minoritas dari tindakan-tindakan abusifProtection of minority shareholders from abusive actions

1 2 50%

TOTAL PERTANYAAN YANG COMPLY DENGAN PRINSIP EQUITABLE TREATMENT OF S.H.AREHOLDERS

10 14 71,43%

* Terdapat 1 item penilaian/pertanyaan yang tidak dinilai (N/A), sehingga jumlah item pertanyaan pada prinsip B bagian ke 1 terkait dengan Kepemilikan Saham dan Hak Suara yang dihitung hanya 1 pertanyaan saja dari sebelumnya 2 pertanyaan.* There is 1 item of assessment/question that is not rated (N/A), so the number of question items in principle B part 1 related to Share Ownership and Voting Rights is counted only 1 question from the previous 2 questions.

PRINCIPLE A: RIGHTS OF SHAREHOLDERS

PRINCIPLE B - EQUITABLE TREATMENT OF S.H.AREHOLDERS



PRINSIP C: PERAN PEMANGKU KEPENTINGANSKOR CG UNTUK PRINSIP ROLE OF STAKEHOLDERS

CG SCORE FOR ROLE OF STAKEHOLDERS PRINCIPLE

No. Parameter PenentuDefining Parameter

Jumlah Kepatuhan terhadap Pertanyaan pada tiap Parameter

Number of Compliance with Questions in each

parameter



Component

1.Hak-Hak Para Pemangku Kepentingan yang ditetapkan oleh UU atau lewat kesepakatan bersama seharusnya dihormati.The rights of the stakeholders determined by law or by mutual agreement should be respected.

7 7 100%

2.Para pemangku kepentingan seharusnya memiliki peluang untuk mendapatkan ganti rugi efektif untuk pelanggaran- pelanggaran atas hak-hak mereka.Stakeholders should have the opportunity to obtain effective compensation for violations of their rights.

1 1 100%

3.Mekanisme-mekanisme meningkatkan kinerja untuk partisipasi karyawan seharusnya dimungkinkan berkembang.Mechanisms for improving performance for employee participation should be possible to develop.

2 3 66,67%

4.

Para pemangku kepentingan, termasuk karyawan individu dan badan-badan perwakilan mereka, seharusnya dapat secara bebas mengkomunikasikan keprihatinan mereka kepada dewan atas praktik-pratik melanggar hukum dan tidak etis dan hak-hak mereka melakukan ini seharusnyalah dilindungiStakeholders, including individual employees and their representative bodies, should be able to freely communicate their concerns to the board over unethical and unethical practices and their rights to do this should be protected

22 100%

TOTAL PERTANYAAN YANG COMPLY DENGAN PRINSIP ROLE OF STAKEHOLDERSTOTAL QUESTIONS THAT COMPLIED WITH THE PRINCIPLE OF ROLE OF STAKEHOLDERS

12 13 92,31%

PRINSIP D: PENGUNGKAPAN DAN TRANSPARANSI

SKOR CG UNTUK PRINSIP DISCLOSURE AND TRANSPARENCYCG SCORE FOR DISCLOSURE AND TRANSPARENCY PRINCIPLE



ParameterNumber of Compliance with Questions in each parameter



Component

1. Transparansi Struktur kepemilikanTransparency in ownership structure

5 5 100%

2. Kualitas Laporan TahunanAnnual Report Quality

7 8 87,5%

3. Pengungkapan atas Transaksi Hubungan IstimewaDisclosure of Special Relationship Transactions

1 2 50%

4. Pengungkapan atas transaksi saham perusahaan yang dilakukan oleh para anggota direksi atau dewan komisarisDisclosure of company stock transactions conducted by members of the board of directors or board of commissionersTotal Questions That Comply With the Equitable Treatment Of Shareholders Principle

1] 1 100%

5. Eksternal Auditor tan Laporan AuditorExternal Auditors and Auditor Reports

2 2 100%

6. Media Komunikasi PerusahaanCorporate Communication Media

4 4 100%

7. Penyampaian informasi laporan keuangan atau laporan tahunan secara tepat waktuSubmitting information on financial statements or annual reports in a timely manner

3 3 100%

PRINCIPLE C: ROLES OF SHAREHOLDERS

PRINCIPLE D: DISCLOSURE AND TRANSPARENCY


SKOR CG UNTUK PRINSIP DISCLOSURE AND TRANSPARENCYCG SCORE FOR DISCLOSURE AND TRANSPARENCY PRINCIPLE



ParameterNumber of Compliance with Questions in each parameter



Component

8. Website PerusahaanCompany Website

6 6 100%

9. Keberadaan Investor Relations dalam PerusahaanExistence of Investor Relations in the Company

1 1 100%

TOTAL PERTANYAAN YANG COMPLY DENGAN PRINSIP DISCLOSURE AND TRANSPARENCY

TOTAL QUESTIONS THAT COMPLIED WITH THE PRINCIPLE OF DISCLOSURE ANDTRANSPARENCY

30 32 93,75%

PRINSIP E: TANGGUNG JAWAB DEWAN KOMISARIS

SKOR CG UNTUK PRINSIP RESPONSIBILITIES OF THE BOARD

No Indikator/Parameter PenentuDefining Parameter

Jumlah Kepatuhan terhadap Pertanyaan pada tiap Parameter

Number of Compliance with Questions ineach parameter



Component

1. Tugas dan Tanggung Jawab Direksi dan Dewan Komisaris:Duties and Responsibilities of Directors and Board of Commissioners:

5 6 83,33%

2. Struktur Dewan Komisaris:Board of Commissioners Structure:

18 24 75%

3. Proses Dewan Komisaris:Board of Commissioners Process:

13 22 59,09%

4. Individu dalam Susunan Dewan KomisarisIndividuals in the Composition of the Board of Commissioners

3 6 50%

5. Kinerja Dewan KomisarisBoard of Commissioners' Performance

5 7 71,43%

TOTAL PERTANYAAN YANG COMPLY DENGAN PRINSIP RESPONSIBILITY OF THE BOARDSTOTAL QUESTIONS THAT COMPLIEDWITH THE PRINCIPLE OF RESPONSIBILITY OF THE BOARDS

45 65 69,23%

PRINCIPLE E: RESPONSIBILITIES OF THE BOARD

Perseroan senantiasa mendukung pembangunan berkelanjutan. Untuk itu, Elnusa berupaya penuh memaksimalkan dampak positif dan meminimalkan dampak negatif dari setiap aktivitas operasionalnya.The Company always supports sustainable development. For this reason, Elnusa strives to maximize the posit ive impacts and minimize the negative impacts of each of i ts operational activit ies.

TANGGUNG JAWAB SOSIAL PERUSAHAANCorporate Social Responsibility



TATA KELOLA TANGGUNG JAWAB SOSIAL PERUSAHAANGovernance of Corporate Social Responsibility

Konsep pembangunan berkelanjutan yang telah berkembang di berbagai negara muncul sebagai bagian dari keinginan banyak pihak tentang keseimbangan antara people, planet, partnership, peace dan prosperity. Di Indonesia, regulator telah mendorong upaya harmonisasi ini melalui tanggung jawab sosial perusahaan, atau Corporate Social Responsibilty (CSR). Dalam CSR, perusahaan sebagai entitas usaha diwajibkan untuk berperan serta dalam pembangunan berkelanjutan.

Perseroan menyadari bahwa pembangunan berkelanjutan ini harus didukung. Sebagai bagian dari corporate citizen yang juga merupakan emiten publik, Perseroan berupaya untuk merealisasikan hal ini sesuai dengan kemampuan yang dimiliki. Dalam mengimplementasikan CSR, Perseroan mengadopsi ISO 26000 yang merupakan Panduan Tanggung Jawab Sosial (Guidance on Social Responsibility). Panduan ini merupakan salah satu referensi yang menjadi standar di dunia internasional. Di Indonesia, ISO 26000 telah diratifikasi oleh Pemerintah pada tahun 2010 dan dijadikan Standar Nasional (SNI) pada tahun 2012.

Commitment and Policy on the Implementationof Corporate Social ResponsibilityBagi Perseroan, tanggung jawab sosial merupakan bagian dari komitmen yang perlu terus menerus diupayakan. Hal ini adalah di karenakan Perseroan sangat memahami bahwa dalam setiap aktivitas operasional yang dilakukan memiliki dampak positif maupun negatif. Oleh karenanya, untuk memastikan keberlanjutan, Perseroan berupaya penuh memaksimalkan dampak positif dan meminimalkan dampak negatif dari setiap aktivitas operasional.

Pendekatan yang digunakan untuk memastikan keberlanjutan aktivitas Perseroan adalah menggunakan tujuh subyek inti tanggung jawab sosial yang ada dalam ISO 26000. Dalam hal ini, subyek ataupun lingkup yang menjadi fokus keberlanjutan bukan hanya kinerja ekonomi semata. Namun Perseroan berupaya penuh agar dapat memastikan keberlanjutan sesuai subyek dalam ISO 26000 yang meliputi:1. Tata kelola organisasi yang baik2. Penegakkan hak asasi manusia3. Praktik ketenagakerjaan yang manusiawi dan berkeadilan4. Pengelolaan kegiatan perusahaan terhadap Lingkungan5. Prosedur operasi yang wajar6. Tanggung jawab terhadap konsumen7. Pelibatan dan pengembangan masyarakat.

The concept of Sustainable Development in many countries has become part of the goal of various stakeholders in balancing the people, planet, partnership, peace and prosperity. In Indonesia, the regulatory bodies have pushed for concerted efforts through Corporate Social Responsibility (CSR). These efforts require any business entity toplay a role in sustainable development.

International Organization for Standardization (ISO), an international entity that set industrial and commercial standards worldwide, has released ISO26000 on the Guidance on Social responsibility. While not mandatory, and only serves as a guideline, ISO provides frameworks and modules that are used internationally on the way CSR can be developed in a company. In Indonesia, ISO26000 has been ratified by the Government in 2010 and has been applied as Standar Nasional (SNI) in 2012.

Commitment and Policy on the Implementationof Corporate Social ResponsibilityFor the Company, social responsibility is part of commitment that needs to be continually pursued. This is because the Company fully understands that every operational activity carried out has both positive and negative impacts. Therefore, to ensure sustainability, the Company strives to maximize the positive impacts and minimize the negative impacts of each operational activity.

The Company uses approach to ensure its sustainable activities by using the seven core social responsibility subjects contained in ISO 26000. In this case, the subject or scope that is the focus of sustainability is not just economic performance. However, the Company makes every effort to ensure sustainability in accordance with the subject in ISO 26000 which includes:

1. Good organizational governance2. Upholding human rights3. Humanitarian and fair labor practices4. Management of company activities on the environment5. Fair operating practices6. Responsibility towards consumers7. Community involvement and development.


Pendekatan yang digunakan untuk memastikan keberlanjutanThe Company’s sustainable development approach

Hak asasi manusiaHuman Rights

Pelibatan dan pengembangan masyarakatCommunity Involvement and

Development

Praktik Ketenagakerjaan

LabourPractices

Isu konsumenConsumer Issues

LingkunganThe Environment

Praktik operasiyang wajar

Fair OperatingPractices

OrganisasiOrganization

Tata kelola organisasiOrganizational

Governance

InterdependensiInterdependence

Pendekatan secara holistik terintegrasiHolistic Integrated Approach

Dalam penerapan CSR pula, Perseroan berupaya penuh menerapkan prinsip yang terkandung dalam ISO 26000. Sebagai perusahaan yang bergerak dalam jasa energi, Perseroan sangat memahami bahwa kegiatan operasi yang dilakukan dapat menimbulkan dampak positif maupun negatif terhadap lingkungan, ekonomi maupun sosial. Oleh karena itu, Perseroan melaksanakan tanggung jawab sosial sebagai upaya untuk memastikan keberlanjutan bisnis. Prinsip-prinsip ISO 26000 seperti akuntabilitas, transparansi, berperilaku etis, menghormati kepentingan para stakeholders, mematuhi hukum yang berlaku, menghormati norma yang berlaku internasional, serta menghormati hak asasi manusia, merupakan prinsip-prinsip yang Perseroan anut.

In the implementation of CSR, the Company strives to fully implement the principles contained in ISO 26000. As a company engaged in energy service industry, the Company is fully aware that its operational activities result in positive and negative impacts to the environment, economy, and community. Therefore, the Company conducts corporate social responsibility as an effort to ensure its business sustainability. The principles of ISO 26000, such as accountability, transparency, ethical behavior, respect for stakeholder interest, respect for the rule of the law, respect for international norms of behavior, and respects for human rights, are the principles that the Company adheres to.



Komitmen pelaksanaan CSR Perseroan terdapat pada kebijakan Corsec-K.1.3 (Rev.01) dan diatur dalam Pedoman Corsec - K1.1 (Rev.02). Komitmen ini berpedoman pada ISO 26000 tentang Panduan Tanggung Jawab Sosial (Guidance on Social Responsibility). Selain itu, pedoman pelaksanaan CSR Perseroan juga mengacu pada regulasi yang berlaku di Indonesia.

Dalam hal pelaporan, Perseroan mengadopsi beberapa peraturan maupun standar pelaporan yang berlaku secara nasional serta internasional. Beberapa standar pelaporan yang menjadi rujukan adalah Peraturan Otoritas Jasa Keuangan, Global Reporting Initiative (GRI) Standard, serta kriteria Annual Report Award. Aspek yang dilaporkan sesuai dengan peraturan maupun standar pelaporan yang ada dan menyesuaikan sifat bisnis maupun topik material Perseroan.

Informasi yang disajikan dalam laporan ini merupakan ringkasan dari kinerja keberlanjutan Perseroan. Informasi yang lebih mendalam sesuai dengan Peraturan OJK maupun GRI Standard dapat dibaca pada Laporan Keberlanjutan yang disajikan secara terpisah.

Dasar Hukum dan Referensi Penerapan Tanggung Jawab Sosial PerusahaanDasar pelaksanaan program CSR Perseroan berlandaskan pada beberapa aspek hukum, di antaranya:1. Undang-undang No. 1 Tahun 1970 tentang Keselamatan

Kerja.2. Undang-undang No. 23 Tahun 1992 tentang Kesehatan.3. Undang-undang No. 8 Tahun 1999 tentang Perlindungan

Konsumen.4. Undang-undang No. 13 Tahun 2003 tentang Ketenagakerjaan.5. Undang-undang No. 40 Tahun 2007 tentang Perseroan

Terbatas.6. Undang-undang No. 25 Tahun 2007 tentang Penanaman

Modal.7. Undang-undang No. 32 Tahun 2009 tentang Perlindungan

dan Pengelolaan Lingkungan Hidup.8. Undang-undang No. 24 Tahun 2011 tentang Badan

Penyelenggara Jaminan Sosial.9. Peraturan Pemerintah No. 27 Tahun 2012 tentang Izin

Lingkungan.10. Peraturan Pemerintah No. 50 Tahun 2012 tentang Penerapan

Sistem Manajemen Keselamatan dan Kesehatan Kerja.11. Peraturan Pemerintah No. 47 Tahun 2012 tentang Tanggung

Jawab Sosial dan Lingkungan Perseroan Terbatas.

The commitment of the Company's CSR implementation is contained in Corsec-K.1.3 (Rev.01) policy and regulated in the Corsec Guidelines - K1.1 (Rev.02). This commitment is guided by ISO 26000 on Guidance on Social Responsibility. In addition, the Company's CSR implementation guidelines also refer to regulations in force in Indonesia.

In terms of reporting, the Company adopts several regulations and reporting standards that apply nationally and internationally. Some reporting standards that are referred to are the Financial Services Authority Regulation, the Global Reporting Initiative (GRI) Standard, and the Annual Report Award criteria. Reported aspects are in accordance with existing regulations and reporting standards and adjust the business nature and material topics of the Company.

The information presented in this report is a summary of the Company's sustainability performance. More detailed information in accordance with OJK Regulations and GRI Standard can be read in the Sustainability Report which is presented separately.

Legal Basis and References on the Implementation of Corporate Social ResponsibilityThe implementation of CSR programs of the Company is based on the following regulations:1. .Law No. 1 of 1970 regarding Work Safety

2. Law No. 23 of 1992 regarding Health3. Law No. 8 of 1999 regarding Consumer Protection

4. Law No. 13 of 2003 regarding Labor and Employment5. Law No. 40 of 2007 regarding Limited Liabilities Company

6. Law No. 25 of 2007 regarding Capital Investment

7. Law No. 32 of 2009 regarding Environmental Protection and Management

8. Law No. 24 of 2011 regarding Social Security Administrative Body

9. Government Regulation No. 27 of 2020 regarding Environmental Permit

10. Government Regulation No 50 of 2012 regarding the Implementation of Health and Safety Management System

11. Government Regulation No. 47 of 2012 regarding Corporate Social and Environmental Responsibility of a Limited Liabilities Company


Di samping itu, sebagai perusahaan terbuka, Perseroan menekankan pentingnya kepatuhan terhadap perkembangan peraturan dan perundang-undangan yang ada. Dua di antaranya adalah Peraturan OJK No. 29/POJK.04/2016 mengenai laporan tahunan Emiten atau perusahaan publik, serta Peraturan OJK No. 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik. Dua peraturan ini mengindikasikan keinginan regulator untuk mendorong entitas usaha di Indonesia memberikan perhatian terhadap pembangunan berkelanjutan yang mampu menjaga stabilitas ekonomi serta bersifat inklusif diperlukan sistem perekonomian nasional yang mengedepankan keselarasan antara aspek ekonomi, sosial, dan lingkungan hidup.

Uji Tuntas terhadap Dampak Ekonomi, Lingkungan dan Sosial dari Kegiatan PerusahaanUji tuntas kegiatan operasional Perseroan dan dampaknya terhadap ekonomi, lingkungan maupun sosial dipetakan berdasarkan tingkatan materialitas suatu subjek serta matriks risiko negatif yang mungkin muncul. Berdasarkan matriks ini, Perseroan memetakan subjek maupun isu penting yang mempengaruhi Perseroan dan pembangunan berkelanjutan. Subyek maupun isu prioritas dirumuskan untuk kemudian dirancang sebagai program yang dapat memastikan keberlanjutan bagi para pemangku kepentingan.

Dalam aspek ekonomi, sebagai entitas usaha Perseroan memiliki tanggung jawab untuk memastikan kinerja ekonomi yang berkelanjutan, bersih dari praktik korupsi serta memiliki manfaat bagi pemangku kepentingan yang lain. Pada aspek lingkungan, Perseroan melaksanakan kaji risiko lingkungan hidup Identifikasi Aspek dan Dampak Lingkungan Hidup (IADL), untuk menentukan risiko lingkungan dari kegiatan operasional dan langkah pengendaliannya. Sementara pada aspek sosial, perhatian Perseroan tidak hanya pada pemangku kepentingan internal, melainkan juga eksternal.

Detail informasi aspek, topik maupun isu yang mempengaruhi Perseroan serta pembangunan berkeberlanjutan tersaji pada subbab isu-isu penting ekonomi, lingkungan dan sosial terkait dampak kegiatan perusahaan.

Isu-isu Penting Ekonomi, Lingkungan dan SosialTerkait Dampak Kegiatan PerusahaanDalam menentukan isu sosial, ekonomi dan lingkungan terkait dampak dari kegiatan, Perseroan melakukan uji tuntas pada level operasional. Isu ini kemudian dijadikan dasar bagi manajemen untuk memprioritaskan penganggulangannya dengan melakukan berbagai pendekatan. Pemetaan risiko dan pengelolaan dampak yang ditimbulkan dari kegiatan usaha Perseroan terhadap aspek ekonomi, lingkungan dan sosial adalah sebagai berikut:

Moreover, as a publicly listed company, the Company puts emphasis on the importance of following the development in regulations and laws. Two of them are OJK Regulation No. 29/POJK.04/2016 concerning annual reports of Issuers or public companies, as well as OJK Regulation No. 51/POJK.03/2017 concerning the Implementation of Sustainable Finance for Financial Services Institutions, Issuers and Public Companies. These two regulations indicate the desire of regulators to encourage business entities in Indonesia to pay attention to sustainable development that is able to maintain economic stability and is inclusive of the needs of the national economic system that promotes harmony between economic, social, and environmental aspects.

Due Diligence on Social, Economic, and Environmental Impact of the Company’s ActivitiesDue diligence of the Company's operational activities and their impact on the economy, environment and social are mapped based on the materiality level of a subject and the negative risk matrix that may arise. Based on this matrix, the Company maps important subjects and issues that affect the Company and sustainable development. The subjects and priority issues are formulated to later be designed as a program that can ensure sustainability for stakeholders.

In the economic aspect, the Company, as a business entity, has the responsibility to ensure economic performance that is sustainable, free from corruption, and beneficient to other stakeholders. On the environmental aspect, the Company carries out an environmental risk assessment Identifying Environmental Aspects and Impacts (IADL), to determine the environmental risk from operational activities and control measures. While on the social aspect, the Company's attention is not only on internal stakeholders, but also external.

Detail information on aspects, topics and issues affecting the Company and sustainable development is presented in the sub-section of important economic, environmental and social issues related to the impact of the company's activities.

Important Economic, Environmental and Social Issues Regarding the Impact of Company ActivitiesIn determining social, economic and environmental issues related to the impact of activities, the Company conducts due diligence at the operational level. This issue is then used as a basis for management to prioritize its mitigation by taking a variety of approaches. Risk mapping and managing the impacts arising from the Company's business activities on economic, environmental and social aspects are as follows:



AspekAspects

TopikTopics

IsuIssue

EkonomiEconomy

Kinerja ekonomiEconomic Performance

Pertumbuhan kinerja keuangan perusahaanGrowth in the Company’s financial performance

Anti korupsiAnti Corruption

Praktik anti korupsi yang dilakukan Anti Corruption Practices conducted

Dampak ekonomi tidak langsungIndirect Economic impacts

Keikutsertaan dalam pembangunan berkelanjutanParticipation in sustainable development

LingkunganEnvironment

Kepatuhan lingkunganEnvironmental compliance

Kesesuaian praktik pengelolaan lingkungan dengan regulasi yang berlakuCompatibility of environmental management practices with applicable regulations

EnergiEnergy

Pengelolaan penggunaan energiEnergy use management

AirWater

Penghematan penggunaan sumber air secara efisienSaving & use water resource efficiently

Efluen & Air LimbahEffluent & Waste Water

Pengelolaan limbah cair dan air buangan perseroan sesuai dengan standarProcessing waste water & effluent with regulatoryg standard

Limbah Padat & Limbah B3Solid Waste & Hazardous Waste

Pengelolaan sampah dan limbah B3 sesuai dengan standar, mulai dari pewadahan, penyimpanan sementara, pengangkutan hingga proses pemusnahan lanjut yang amanProcessing solid waste & hazardous waste with regulatory standard, starts from collection, temporary storaging, transportation and further save removal processing

Keanekaragaman hayatiBiodiversity

Minimalisasi dampak kegiatan terhadap keanekaragaman hayati wilayah kerja operasionalMinimize the impact of activities on the biodiversity in the operational work areas

SosialSocial

Kesehatan dan keselamatan kerjaOccupational Health and Safety

Pengelolaan kegiatan operasional berlandaskan kesehatan dan keselamatan kerjaManagement of operational activities based on occupational health and safety

KepegawaianEmployment

Praktik ketenagakerjaan dan keberagamanLabor practices and diversity

Pelatihan dan pendidikanTraining and Education

Peningkatan kompetensi karyawanEmployees’ competency improvement

Penilaian sosial pemasokSupplier social assessment

Seleksi mitra kerja operasional berdasarkan aspek kesehatan dan keselamatan kerjaSelection of operational partners based on aspects of occupational health and safety

Strategi dan Program Kerja Perusahaan dalam Menangani Isu-isu Sosial, Ekonomi dan LingkunganBerdasarkan isu-isu prioritas hasil uji tuntas, Perseroan memfokuskan pada fokus area sebagaimana tabel di bawah ini. Selanjutnya Perseroan mengelaborasi strategi maupun program kerja yang dapat mencapai tujuan dari fokus area yang ada.

AspekAspect

Fokus AreaFocus Area

Strategi Strategy

Program KerjaWork Program

EkonomiEconomy

Pengelolaan praktik bisnis berbasis tata kelola yang baik meliputi anti korupsi, persaingan sehat, penghormatan hak dan kekayaan intelektual serta bebas politikManagement of business practices based on good governance includes anti-corruption, fair competition, respect for intellectual property rights and as well as political freedom

Peningkatan pengelolaan good corporate governance berbasis regulasi dan standar internasional Improved management of good corporate governance based on regulations and international standards

• Sosialisasi code of conduct dan pakta integritas• Pengelolaan whistle-blowing systems• Socialization of code of conduct and integrity pact• Management of whistle-blowing systems

Strategy and Work Program of the Company in Dealing with Social, Economic and Environmental IssuesBased on issues of priority due diligence results, the Company focuses on the focus areas as in the table below. Furthermore, the Company elaborates strategies and work programs that can achieve the objectives of the existing focus area.


AspekAspect

Fokus AreaFocus Area

Strategi Strategy

Program KerjaWork Program

LingkunganEnvironment

Minimalisasi risiko dan dampak negatif kerusakan lingkungan akibat aktivitas operasionalMinimization of risks and negative impacts of environmental damage due to operational activities

Pengelolaan lingkungan sesuai regulasi, persyaratan pelanggan dan standar industri yang berlakuEnvironmental management in accordance with regulations, customer requirements and applicable industry standards

• Penggunaan material maupun sumber daya secara efisien

• Penanganan limbah • Pengukuran kualitas lingkungan • Inovasi berwawasan lingkungan• Use of materials and resources efficiently• Waste management• Measurement of environmental quality• Environmental innovation

SosialSocial

Memberikan jaminan HAM karyawan Provide guarantee for employees' human rights

Penerapan praktik HAM di lingkungan kerja sesuai regulasi yang berlakuThe application of human rights practices in the work environment in accordance with applicable regulations

• Sosialisasi peraturan perusahaan serta code of conduct

• Kebebasan mendirikan serikat pekerja• Socialization of company regulations and code of

conduct• Freedom of establishing trade unions

Pengelolaan ketenagakerjaan bebas diskriminasi serta membudayakan kesehatan dan keselamatan kerja Managing labor is free from discrimination and it promotes occupational health and safety

Pengelolaan ketenagakerjaan, kesehatan dan keselamatan kerja sesuai regulasi, persyaratan pelanggan dan standar industri yang berlakuManpower management, occupational health and safety in accordance with regulations, customer requirements and applicable industry standards

• Program wellness khusus perempuan • Penyediaan fasilitas nursery room• Alokasi kesempatan dan fasilitas pekerja difabel • Pengelolaan sistem kesehatan dan keselamatan kerja

berbasis regulasi dan standar yang berlaku • Pengelolaan sarana maupun prasarana yang

mendukung kesehatan dan keselamatan kerja• Special women's wellness program• Provision of nursery room facilities• Allocation of opportunities and facilities for disabled

workers• Management of occupational health and safety

systems based on regulations and applicable standards

• Management of facilities and infrastructure that supports occupational health and safety

SosialSocial

Pengelolaan kepuasan pelangganCustomer satisfaction management

Pengelolaan program inovasi untuk memberikan kepuasan lebih pelangganManagement of innovation programs to provide more customer satisfaction

• Continuous improvement program• Penanganan keluhan pelanggan• Customer satisfaction survey• Continuous improvement program• Handling customer complaints• Customer satisfaction survey

Melibatkan, mengembangkan komunitas, serta mendukung tujuan SDG’sInvolve, develop communities, and support the goals of the SDGs

Pelibatan masyarakat sebagai bagian dalam kegiatan operasionalCommunity involvement as part of operational activities

• Pemberdayaan Tenaga Kerja Lokal dalam Aktivitas Operasi

• Pengembangan komunitas berkelanjutan• Empowerment of Local Workers in Operational

Activities• Sustainable community development

Berbagai Program yang Melebihi Tanggung Jawab Minimal Perusahaan yang Relevan dengan Bisnis yang DijalankanPerseroan meyakini bahwa antara tanggung jawab perusahaan dengan kepedulian sosial adalah dua hal yang berbeda. Oleh karenanya dalam hal kepedulian sosial, Perseroan membentuk Yayasan Baitul Hikmah Elnusa serta Elnusa Emergency Response Team yang turut serta mendukung aktivitas kepedulian sosial. Baik yayasan maupun tim tersebut, melakukan berbagai misi kemanusiaan. Salah satunya adalah pada saat terjadi bencana nasional di Indonesia.

Various Programs Exceeding Company Minimum Responsibility that Is Relevant with Ongoing Business The Company believes that between corporate responsibility and social care are two different things. Therefore, in terms of social care, the Company formed the Baitul Hikmah Elnusa Foundation and the Elnusa Emergency Response Team who participated in supporting social awareness activities. Both the foundation and the team carried out various humanitarian missions. One of them is during a national disaster in Indonesia.



Pemangku Kepentingan Signifikan yang Terdampak atau Berpengaruh atas Dampak dari Kegiatan PerusahaanUntuk merealisasikan berbagai strategi maupun program, Perseroan menyadari perlunya berinteraksi dengan berbagai pemangku kepentingan baik secara langsung maupun tidak langsung berpengaruh atau terdampak dari kegiatan usaha. Pemangku kepentingan Perseroan diidentifikasi berdasarkan tingkat kepentingan hubungan yang mempengaruhi kinerja Perseroan, demikian juga sebaliknya. Perseroan selalu berupaya untuk mengelola pelibatan para pemangku kepentingan guna meningkatkan nilai Perseroan. Pemangku kepentingan yang berpengaruh atau terdampak dari kegiatan Perseroan dapat dijabarkan sebagai berikut:

Pemangku KepentinganStakeholders

Bentuk PelibatanInvolvement Form

Pengaruh/Dampak dari Kegiatan PerusahaanImpact from the Company’s Activities


RUPS, Laporan KinerjaGMS, Performance Report

Peningkatan kinerja dan peningkatan nilai Perseroan serta dukungan pada kepentingan Pemegang SahamPerformance and value improvement of the Company as well as the support for the interests of the Shareholders

KaryawanEmployees

Serikat Karyawan, Perjanjian Kerja Bersama, Pendidikan dan PelatihanLabour Union, Collective Labour Agreement, Education and Training

Terjaminnya kesejahteraan karyawan beserta keluarganya; Suasana kerja yang kondusif, sehat, dan aman; jenjang karir dan penilaian kinerja yang adil dan transparan; pemenuhan hak-hak karyawan; meningkatkan efektivitas hubungan manajemen dan karyawanGuaranteeing employees’ and their family’s welfare; conducive, healthy, and safe work environment; fair and transparent career path and performance evaluation; fulfillment of employees’ rights; improvement in the effectiveness of the relationship between the Management and employees

PemerintahGovernment

Kepatuhan terhadap Peraturan; Kesehatan Perusahaan; Compliance with the Regulation; health of the Company

Kontribusi ekonomi pada Pemerintah (pajak dan kegiatan peningkatan ekonomi masyarakat melalui kegiatan CSR)Economic contribution to the Government (taxes and activities that enhances the community’s economy through CSR)

MasyarakatCommunities

Kegiatan Corporate Social Responsibility meliputi program pendidikan, pelatihan dan pengembangan, serta program sosial ekonomi lainnyaCorporate Social Responsibility activities including education, training, and development, as well as other socio-economic programs

Dapat meningkatkan perekonomian masyarakat seiring dengan pemberdayaan masyarakat secara berkelanjutan melaluipembangunan kesejahteraan masyarakat, baik fisik maupun non-fisik.Improvement in the economic activities in the communities as well as empowerment of the community that is done sustainably to both physical and non-physical welfare development.

Konsumen/PelangganConsumers

Survei Kepuasan Pelanggan, dan program engagement lainnya Consumers’ satisfaction survey, and other engagement programs

Peningkatan fasilitas atas produk-produk Perseroan yang dapat memberikan kenyamanan dan kualitas hidup lebih baik Improvement in facilities for the company’s products that can give additional comfort and better quality of life

Rekanan

Partners

Kontrak dan Perjanjian Kerja Sama, Proses Operasional

Contract and Collective Agreement, Operational Processes

Proses pengadaan yang adil dan transparan; Proses evaluasi yang objektif; Hubungan yang harmonis;

Fair and transparent procurement processes; Objective evaluation processes; harmonious relationship;

Media Massa

Mass Media

Siaran Pers/Keterbukaan Informasi

Press release/Information disclosure

Memperoleh akses informasi yang akurat dan terkini

Access to accurate and up-to-date information

Important Stakeholders Who Impact or are Impacted by the Activities of the CompanyTo realize various strategies and programs, the Company realizes the need to interact with various stakeholders both directly and indirectly influencing or impacting business activities. The Company's stakeholders are identified based on the level of importance of the relationship that affects the Company's performance, and vice versa. The Company always strives to manage stakeholder engagement in order to increase the value of the Company. Stakeholders who are influential or affected by the Company's activities can be described as follows:


Organisasi Pengelolaan Pelaksanaan CSR di Lingkup ElnusaPengelolaan program CSR di lingkup Perseroan dilaksanakan secara koordinatif antar fungsi baik di Perseroan maupun grup. Fungsi yang terlibat meliputi Divisi Operasi, Human Capital, HSSE, Engineering Center & Quality Management, Corporate Secretary dan fungsi terkait lain. Namun, tanggung jawab pengelolaan CSR terkait pelibatan dan pengembangan masyarakat berada dalam koordinasi fungsi Corporate Secretary.

Rencana dan Realisasi Anggaran Program Tanggung Jawab SosialPerseroan telah mengalokasikan dana untuk program kegiatan CSR tahun 2019 sebesar Rp40,8 miliar. Sebagian besar dana CSR digunakan untuk kegiatan CSR di wilayah operasi yang berfokus pada pelibatan dan pengembangan masyarakat. Sementara untuk aspek pengelolaan hak asasi manusia, praktik ketenagakerjaan, pengelolaan lingkungan, prosedur operasi yang wajar, serta tanggung jawab terhadap konsumen, mengikat pada biaya operasional Perseroan.

Management Organization of CSR Implementation within Elnusa The management of CSR programs within the scope of the Company is carried out coordinatively between functions within the Company and in groups. The functions involved include the Operations Division, Human Capital, HSSE, Engineering Center & Quality Management, Corporate Secretary and other related functions. However, the responsibility for managing CSR related to community involvement and development lies in the coordination of the functions of the Corporate Secretary.

Plan and Realization of Social Responsibility Program BudgetThe Company has allocated funds for the CSR program in 2019 amounting to Rp40.8 billion. Most of the CSR funds are used for CSR activities in the area of operations that focus on community engagement and development. Meanwhile, aspects of human rights management, labor practices, environmental management, reasonable operating procedures, and responsibilities to consumers are binding on the Company's operational costs.



TANGGUNG JAWAB SOSIAL TERKAIT OPERASI YANG ADILSocial Responsibility towards Fair Operations

Komitmen dan Kebijakan Terkait Operasi yang AdilPerseroan berkomitmen untuk senantiasa menjalankan praktik-praktik operasi yang adil. Praktik ini didasari bahwa sebagai entitas bisnis Perseroan harus professional dalam menghasilkan produk dan jasanya, menjunjung tinggi integritas dalam melaksanakan bisnisnya, memiliki kesadaran untuk menciptakan iklim persaingan usaha yang sehat, menghargai hak cipta dan sadar untuk mematuhi peraturan perundang-undangan yang berlaku. Melalui langkah-langkah ini, Perseroan berupaya menerapkan praktik operasi yang adil. Sebagai landasan dari praktik ini adalah peraturan perundang-undangan yang berlaku, kebijakan internal, serta berbagai standar industri & internasional.

Sebagai tindak lanjut dari komitmen, Perseroan mengembangan berbagai kebijakan yang mendukung. Kebijakan ini tertera pada peraturan perusahaan, code of conduct, maupun dokumen lainnya. Selain itu, Perseroan juga membangun whistleblowing systems untuk memudahkan pengaduan bila terdapat pelanggaran.

Perseroan menjamin bahwa setiap pihak yang berkepentingan mendapatkan perlakuan yang adil sesuai dengan ketentuan peraturan perundang-undangan yang berlaku. Perseroan menerapkan kegiatan operasional dengan memperhatikan hak para pemangku kepentingan sehingga menciptakan hubungan yang harmonis dan mewujudkan keseimbangan atas kepentingan seluruh para pemangku kepentingan.

Lingkup dan Perumusan Terkait Operasi yang AdilPerseroan berpandangan bahwa prinsip tata kelola perusahaan yang baik merupakan panduan bagi seluruh Insan Perseroan dalam menjalankan kegiatan operasional, berinteraksi dengan sesama kolega, maupun dengan pemangku kepentingan eksternal serta menciptakan praktik bisnis yang bersih dan menjauhi segala bentuk kecurangan. Berdasarkan prinsip ini, Perseroan melakukan pemetaan risiko dari kegiatan bisnis yang dilaksanakan. Tujuan pemetaan risiko ini adalah untuk memastikan bahwa berbagai risiko negatif yang mungkin terjadi dan berdampak terhadap perusahaan dapat dimitigasi sebagai mungkin.

Berdasarkan hasil pemetaan risiko, lingkup praktik operasi yang adil dititikberatkan pada pencegahan korupsi, persaingan usaha, hak kekayaan intelektual, praktik politik praktis, serta kepatuhan regulasi secara umum. Pemetaan ini juga didasarkan atas review regulasi yang berlaku di Indonesia, serta berbagai standar internasional yang relevan dan baik untuk diterapkan.

Praktik anti korupsi merupakan perhatian utama Perseroan. Hal ini didasarkan pengalaman terdahulu bahwa dampak penggelapan (fraud) sangat mempengaruhi budaya dan kinerja Perseroan. Oleh karenanya sebagai bentuk mitigasi risiko, Perseroan menerapkan kebijakan untuk membangun sistem yang menutup celah pelanggaran serta menerapkan sanksi berat atasnya. Pengembangan sistem ini juga merupakan kesungguhan

Commitment and Policy Related to Fair OperationsThe Company is committed to always carrying out fair operating practices. This practice is based on that as a business entity the Company must be professional in producing products and services, upholding integrity in conducting its business, having awareness to create a fair business competition climate, respecting copyright and being aware of compliance with applicable laws and regulations. Through these steps, the Company seeks to implement fair operating practices. As the foundation of this practice are applicable laws and regulations, internal policies, and various industry & international standards.

As a follow up to its commitment, the Company developed various supporting policies. These policies are stated in company regulations, code of conduct, and other documents. In addition, the Company also establishes whistleblowing systems to facilitate complaints if there are violations.

The Company guarantees that all interested parties receive fair treatment in accordance with the provisions of the applicable laws and regulations. The Company implements operational activities by taking into account the rights of the stakeholders so as to create a harmonious relationship and realize a balance of the interests of all stakeholders.

Scope and Formulation Related to Fair OperationThe Company is of the view that the principles of good corporate governance are a guide for all Company Personnel in carrying out operational activities, interacting with colleagues, and with external stakeholders and creating clean business practices and avoiding all forms of fraud. Based on this principle, the Company conducts risk mapping from business activities carried out. The purpose of this risk mapping is to ensure that various negative risks that may occur and have an impact on the company can be mitigated as possible.

Based on the results of risk mapping, the scope of fair operating practices focuses on preventing corruption, business competition, intellectual property rights, practical political practices, and regulatory compliance in general. This mapping is also based on a review of the regulations that apply in Indonesia, as well as various international standards that are relevant and good to apply.

Anti-corruption practices are the Company's main concern. This is based on previous experience that the impact of embezzlement (fraud) greatly affects the culture and performance of the Company. Therefore, as a form of risk mitigation, the Company implements policies to build a system that closes loopholes in violations and imposes severe sanctions on them. The development of this system is also a serious commitment to


untuk memberikan jaminan kepastian penyelenggaraan praktik operasi yang baik kepada seluruh pemangku kepentingan.

Kebijakan Terkait Inisiatif Tanggung Jawab SosialTerkait Operasi yang AdilPenerapan praktik operasi yang adil pada kegiatan usaha Perseroan diwujudkan dalam inisiatif kebijakan strategis sebagai berikut:1. Kebijakan Terkait Anti Korupsi

Meliputi regulasi anti korupsi, kebijakan pemberian dan penerimaan hadiah, jamuan, hiburan, sponsorship, donasi dan lainnya. Setiap pemberian maupun penerimaan harus terlebih dahulu dilaporkan. Setiap pelaporan mendapatkan disposisi untuk ditindaklanjuti selanjutnya.

2. Kebijakan Terkait Praktik Persaingan Usaha yang AdilMeliputi regulasi pengadaaan barang dan jasa yang berlaku baik secara industri, bagian dari Badan Usaha Milik Negara, serta skema yang ditentukan oleh KKKS. Selain itu, sebagai kontraktor jasa, meliputi pula kebijakan internal pengadaan serta contractor safety management system. Setiap keikutsertaan pengadaan barang dan jasa yang dilakukan oleh KKKS, Perseroan mengikuti ketentuan maupun skema wilayah kerja yang berlaku. Sementara saat melakukan pengadaan, Perseroan memastikan layanan jasa terbaik dengan menerapkan praktik kesehatan dan keselamatan kerja terhadap mitra.

3. Komitmen Perseroan untuk Menghormati Hak Atas Kekayaan IntelektualMeliputi berbagai regulasi hak atas kekayaan intelektual yang belaku, serta kebijakan internal dalam melakukan improvisasi maupun inovasi. Hasil improvisasi maupun inovasi, didaftarkan kepada kementerian terkait untuk diverifikasi keabsahannya.

4. Kebijakan Perseroan terhadap Lobi, Kontribusi Politik dan Keterlibatan PolitikMeliputi kebijakan benturan kepentingan praktik proses bisnis dengan kegiatan terkait politik, termasuk di dalamnya larangan sponsor, donasi dan sebagainya. Sementara itu, hak-hak pekerja sebagai individu untuk ikut serta dalam kegiatan politik dipersilahkan selama tidak ada benturan kepentingan.

5. Komitmen Perseroan dalam Rangka Patuh Hukum dan RegulasiMeliputi berbagai regulasi yang berlaku terhadap praktik bisnis Perseroan. Tidak hanya sebagai perusahaan jasa energi melainkan pula sebagai perusahaan terbuka. Selain itu, Perseroan juga mengadopsi berbagai standar international maupun industri untuk memberikan layanan terbaik.

Perencanaan Tanggung Jawab Sosial Terkait Operasi yang AdilPerseroan senantiasa melakukan perencanaan untuk menjamin terlaksananya semua kebijakan praktik operasi yang adil. Proses ini diterapkan oleh banyak fungsi relevan tergantung pada lingkup area. Praktik anti korupsi dan anti politik praktis merupakan ranah

provide certainty for the implementation of good operating practices to all stakeholders.

Policies Regarding Social Responsibility Initiatives Related to Fair OperationsThe implementation of fair operating practices in the Company's business activities is manifested in the following strategic policy initiatives:1. Policy of Anti Corruption

It includes anti-corruption regulations, gift giving and receiving policies, meals, entertainment, sponsorships, donations and more. Every gift and receipt must first be reported. Each report gets a disposition for further action.

2. Policies of Fair Business Competition PracticesIt includes regulations on the procurement of goods and services that apply both industrially, as part of State-Owned Enterprises, and schemes determined by KKKS. In addition, as a service contractor, it also includes internal procurement policies and a contractor safety management system. Every participation in the procurement of goods and services carried out by KKKS, the Company follows the provisions and the applicable work area scheme. Meanwhile, when procuring, the Company ensures the best services by applying work health and safety practices to partners.

3. The Company's Commitment to Respect Intellectual Property RightsIt includes various regulations on intellectual property rights that apply, as well as internal policies in doing improvisation and innovation. The results of improvisation and innovation are registered with the relevant ministries to verify their validity.

4. Company Policy on Lobbying, Political Contributions and Political EngagementIt includes policies regarding conflicts of interest in business process practices with activities related to politics, including a ban on sponsorships, donations and so on. Meanwhile, the rights of workers as individuals to participate in political activities are welcome as long as there are no conflicts of interest.

5. The Company's Commitments in Compliance with Law and RegulationsIt includes various regulations that apply to the Company's business practices, not only as an energy service company but also as a public company. In addition, the Company also adopts various international and industry standards to provide the best service.

Social Responsibility Planning Related to Fair OperationsThe Company is always planning to ensure the implementation of all fair operating policies. This process is implemented by many relevant functions depending on the scope of the area. Anti-corruption and anti-political practice is the realm of the



dari Corporate Secretary. Praktik persaingan usaha yang sehat merupakan ranah dari Marketing dan Supply Chain Management. Sementara penghormatan hak kekayaan intelektual merupakan ranah dari Engineering Center & Quality Management beserta Legal & Contract.

Pelaksanaan dan Pencapaian Inisiatif Tanggung Jawab Sosial Terkait Operasi yang AdilPerseroan berkomitmen untuk menerapkan menjalankan praktik bisnis dengan mengedepankan prinsip-prinsip praktik operasi yang adil. Penerapannya ini mengacu peraturan perundang-undangan yang berlaku, serta kebijakan internal yang diimplementasikan. Praktik operasi yang adil meliputi praktik anti korupsi, persaingan usaha secara sehat, menghormati hak kekayaan intelektual, keterbebasan dari praktik politik, serta komitmen kepatuhan regulasi secara umum.1. Praktik Usaha Anti Korupsi

Sebagai perusahaan jasa, integritas merupakan komitmen utama Perseroan dalam memberikan pelayanan. Oleh karenanya dalam nilai budaya, Perseroan memiliki nilai clean yang bermakna memiliki integritas, komitmen tinggi dan dapat diandalkan dalam menjalankan setiap aktivitas bisnis perusahaan.

Komitmen ini sejalan dengan undang-undang anti korupsi, serta tak terpisahkan dengan impelementasi prinsip tata kelola perusahaan yang baik. Tujuannya antara lain meningkatkan kepercayaan pelanggan, investor, pemegang saham serta publik secara umum.

Untuk itu, Perseroan berupaya menutup pintu-pintu yang membuka peluang terjadinya penyalahgunaan jabatan, praktik gratifikasi maupun penyuapan. Komitmen ini tercantum dalam standar etika perilaku dan berlaku bagi seluruh karyawan Perseroan tanpa terkecuali. Karyawan diharuskan menandatangani pakta integritas yang berisi komitmen anti korupsi, kolusi, dan nepotisme. Pakta ini juga mengharuskan semua karyawan untuk bertindak jujur dan menghindari memberi maupun menerima hadiah atau penyuapan.

Atas penerapan komitmen ini, pada 2019 tidak ada insiden korupsi yang terbukti dan tindakan yang diambil atas insiden tersebut.

2. Persaingan Usaha Secara SehatDalam melaksanakan bisnis, Perseroan senantiasa mengikuti ketentuan bisnis yang diberlakukan dan bersaing secara sehat. Secara umum, ada dua mekanisme yang diberlakukan oleh klien terhadap Perseroan, yaitu tender dan penunjukan langsung. Umumnya penentuan mekanisme ini mengikuti skema wilayah kerja yang dipilih oleh KKKS sebagai klien. Pada skema cost recovery, Perseroan mengikuti tender sebagaimana diberlakukan. Sebaliknya pada skema gross split, Perseroan mengikuti ketentuan klien, baik ditunjuk langsung ataupun mengikuti tender.

Corporate Secretary. The practice of fair business competition is the domain of Marketing and Supply Chain Management. While respect for intellectual property rights is the domain of the Engineering Center & Quality Management along with Legal & Contract.

Implementation and Achievement of Social Responsibility Initiatives Related to Fair OperationsThe Company is committed to implementing business practices by prioritizing the principles of fair operating practices. Its application refers to the applicable laws and regulations, as well as the implemented internal policies. Fair operating practices include anti-corruption practices, fair business competition, respect for intellectual property rights, freedom from political practices, and commitment to regulatory compliance in general.

1. Anti Corruption Business PracticesAs a service company, integrity is the Company's main commitment in providing services. Therefore, in terms of cultural value, the Company has a clean value meaning itb has integrity, high commitment and can be relied on in carrying out each of the company's business activities.

This commitment is in line with anti-corruption laws, and is inseparable from the implementation of the principles of good corporate governance. The aim is to increase the trust of customers, investors, shareholders and the general public.

To that end, the Company seeks to refrain from opportunities for misuse of office, gratuity and bribery practices. This commitment is stated in the ethical standards of conduct and applies to all employees of the Company without exception. Employees are required to sign an integrity pact containing commitments against corruption, collusion and nepotism. This pact also requires all employees to act honestly and avoid giving or receiving gifts or bribes.

As a result of the implementation of this commitment, in 2019, there were no proven corruption incidents and actions taken on these incidents.

2. Fair Business CompetitionIn conducting business, the Company always follows the applicable business regulations and competes fairly. In general, there are two mechanisms imposed by clients on the Company, namely tendering and direct appointment. In general, the determination of this mechanism follows the work area scheme chosen by the PSC as a client. In the cost recovery scheme, the Company follows the tender as it applies. In contrast to the gross split scheme, the Company follows the client's provisions, either directly appointed or in the tender.


Perseroan berupaya semaksimal mungkin merumuskan strategi-strategi khusus untuk memenangkan persaingan, dengan tetap menjunjung tinggi praktik usaha yang sehat. Pada 2019, tidak ada laporan dan tindakan antipersaingan yang terkait dengan praktik bisnis Perseroan.

Selain hal itu, Perseroan juga memberikan kesempatan yang sama kepada semua pihak untuk menjadi mitra dalam proses pengadaan barang dan jasa. Setiap perusahaan yang ingin menjadi mitra kerja harus terlebih dahulu mendaftar sebagai rekanan Perseroan. Hal ini dimaksudkan agar Perseroan dapat memastikan keberadaan dan legalitas persyaratan administratif mitra telah sesuai dengan peraturan perundang-undangan yang berlaku.

Khusus untuk mitra yang memiliki risiko tinggi kecelakaan kerja, Perseroan memiliki dan menerapkan contractor safety management system. Melalui sistem ini, Perseroan berupaya memastikan bahwa mitra kerja juga menerapkan standar kesehatan dan keselamatan kerja yang baik pula.

Untuk proses pemilihan mitra kerja diterapkan dengan prinsip transparan, terbuka, adil dan kompetitif. Mitra kerja diseleksi berdasarkan ketentuan yang diatur dalam ketentuan dan syarat pengadaan. Ketentuan ini berlaku untuk seluruh mitra kerja baik lokal maupun multinasional. Detail mengenai proses ini terdapat pada Pedoman Tata Cara Pengadaan Barang dan Jasa. Sebagai bentuk sosialisasi perkembangan Perseroan kepada mitra kerja, Perseroan menyelenggarakan vendor annual meeting setiap tahunnya.

3. Penghormatan Hak Kekayaan IntelektualPerseroan sangat menjunjung originalitas dan hak kekayaan intelektual. Oleh karenanya, Perseroan terus mengembangkan berbagai inovasi dengan tetap memperhatikan unsur originalitas serta aspek-aspek kekayaan intelektual yang ada. Dasar dari penghormatan hak kekayaan intelektual yang diterapkan Perseroan adalah peraturan maupun perundang-undangan Hak Kekayaan Intelektual yang berlaku di Indonesia.

Sebagai bentuk penjagaan maupun verifikasi atas berbagai inovasi yang telah dikembangkan, Perseroan juga mendaftarkan berbagai produk maupun jasanya ke Kementrian Hukum dan HAM. Selama 2019, tidak ada gugatan hukum yang dilayangkan ke Perseroan dengan dugaan pengakuan terhadap hak kekayaan intelektual badan maupun orang lain.

4. Praktik Usaha Bebas PolitikPerseroan menjamin hak berpolitik karyawan sebagaimana diatur pada undang-undang dan selama bebas dari benturan kepentingan yang merugikan perusahaan. Dalam menyelenggarakan usaha, Perseroan memiliki sejumlah kebijakan yang mengatur larangan praktik usaha yang berkaitan dengan politik praktis. Hal ini meliputi berbagai aktivitas pemberian sponsor, hadiah, donasi maupun lainnya dengan tujuan politik praktis. Kebijakan ini disosialisasikan

The Company makes every effort to formulate specific strategies to win the competition, while upholding sound business practices. In 2019, there were no reports and anti-competitive actions related to the Company's business practices.

In addition, the Company also provides equal opportunities to all parties to become partners in the process of procurement of goods and services. Every company that wants to become a partner must first register as a partner of the Company. This is intended so that the Company can ensure the existence and legality of the administrative requirements of partners in accordance with applicable laws and regulations.

Specifically for partners who have a high risk of work accidents, the Company owns and implements a contractor safety management system. Through this system, the Company strives to ensure that work partners also apply good occupational health and safety standards as well.

For the selection process, partners are applied with the principles of transparent, open, fair and competitive. Business partners are selected based on the provisions stipulated in the terms and conditions of procurement. This provision applies to all partners both local and multinational. Details about this process can be found in the Guidelines for Procurement of Goods and Services. As a form of socialization of the Company's development to its partners, the Company holds a vendor annual meeting every year.

3. Respect for Intellectual Property RightsThe Company strongly upholds originality and intellectual property rights. Therefore, the Company continues to develop various innovations while still paying attention to the elements of originality and aspects of existing intellectual property. The basis of respect for intellectual property rights applied by the Company is the intellectual property laws and regulations that apply in Indonesia.

As a form of guarding and verifying various innovations that have been developed, the Company also registers various products and services to the Ministry of Law and Human Rights. During 2019, no lawsuits were filed with the Company with the alleged acknowledgment of the intellectual property rights of the body and others.

4. Political Free Business PracticesThe Company guarantees the political rights of employees as stipulated in the law and as long as it is free from conflicts of interest that harm the company. In conducting business, the Company has a number of policies governing the prohibition of business practices related to practical politics. This includes a variety of sponsorship activities, gifts, donations and others with practical political objectives. This policy is continuously socialized to all employees. Through this effort, the Company



secara kontinyu kepada seluruh karyawan. Melalui upaya ini, Perseroan memastikan praktik usaha bebas politik. Sepanjang 2019, tidak ada keluhan maupun teguran pihak ketiga tentang keterlibatan Dewan Komisaris, Direksi maupun karyawan mengenai politik prastis.

5. Komitmen Kepatuhan Regulasi Secara UmumSebagai bagian dari badan usaha di Indonesia, Perseroan berkomitmen untuk mematuhi berbagai regulasi yang berlaku. Kepatuhan ini tidak hanya sebatas peraturan maupun perundang-undangan, melainkan berbagai kepatuhan regulasi yang diharapkan oleh regulator yang diberi kewenangan oleh Pemerintah. Hal ini meliputi Peraturan Otoritas Jasa Keuangan, maupun Bursa Efek Indonesia. Sepanjang 2019, tidak ada teguran yang diterima Perseroan akibat kelalaian terhadap regulasi tertentu.

Selain itu, Perseroan menyadari bahwa standarisari perlu pula dikembangkan. Oleh karenanya, secara mandiri Perseroan berinisiatif mengimplementasikan berbagai standar yang berlaku di industri serta internasional.

Prosedur dan Mekanisme Penanganan KonflikTerkait Operasi yang AdilPerseroan menjamin terlaksananya kebijakan dengan baik dan meminimalisasi konflik yang terjadi terkait kegiatan operasi yang adil. Oleh karenanya, Perseroan membuka akses whistleblowing system yang terbuka luas untuk para pemangku kepentingan. Whistleblowing system dapat diakses melalui alamat web whistleblower.elnusa.co.id. Setiap keluhan maupun pengaduan yang sampai, akan ditindaklanjuti secara independen dan rahasia oleh fungsi-fungsi terkait. Identitas pelapor dijamin kerahasiaannya, sehingga mekanisme ini aman bagi para pelapor.

Pelaporan yang masuk akan ditelusuri fakta material yang terjadi. Bila memang terdapat pelanggaran, maka Perseroan akan memberikan sanksi sesuai dengan tingkatan pelanggaran yang dilakukan. Sepanjang 2019, Perseroan telah menerima informasi keluhan maupun pelaporan pelanggaran dari beberapa pihak. Informasi ini kemudian ditindaklanjuti dan diselesaikan sesuai Peraturan Perusahaan yang berlaku.

Sertifikasi Terkait Operasi yang AdilPerseroan belum memiliki sertifikasi atas praktik operasi yang adil. Namun demikian, Perseroan telah terserfikasi ISO 9001 Manajemen Mutu oleh lembaga sertifikasi eksternal. Sertifikasi ini merupakan salah satu bentuk verifikasi atas keunggulan layanan yang Perseroan berikan, termasuk di dalamnya praktik operasi yang adil.

Penghargaan Terkait Operasi yang AdilPerseroan mendapatkan banyak penghargaan dari klien atas jasa yang diberikan. Berbagai penghargaan yang diberikan ini secara umum dapat diasumsikan bahwa pelanggan mendapatkan kepuasan atas layanan Perseroan, termasuk di dalamnya praktik-praktik operasi yang adil yang dijalankan Perseroan. Salah satunya adalah mengenai praktik antikorupsi yang diimplementasikan.

ensured political-free business practices. Throughout 2019, there were no complaints or reprimands from third parties regarding the involvement of the Board of Commissioners, Directors and employees regarding prastis politics.

5. Commitment of Regulatory Compliance in GeneralAs part of a business entity in Indonesia, the Company is committed to comply with various applicable regulations. This compliance is not only limited to rules and regulations, but also various regulatory compliance that is expected by regulators who are authorized by the Government. This includes the Financial Services Authority Regulations, as well as the Indonesia Stock Exchange. During 2019, no warning was received by the Company due to negligence of certain regulations.

In addition, the Company realizes that standardization needs to be developed. Therefore, the Company independently took the initiative to implement various standards that apply in industry and internationally.

Procedures and Mechanisms of Conflict Management Related to Fair OperationsThe Company ensures the implementation of policies properly and minimizes conflicts that occur related to fair operating activities. Therefore, the Company has opened access to a whistleblowing system that is wide open for stakeholders. Whistleblowing system can be accessed via the web address whistleblower.elnusa.co.id. Every complaint informed will be followed up independently and confidentially by the relevant functions. The identity of the reporter is guaranteed confidentiality, so this mechanism is safe for the reporters.

Incoming reports will be traced to the material facts that occurred. If there is indeed a violation, the Company will impose sanctions according to the level of violation committed. Throughout 2019, the Company has received complaints and reporting violations from several parties. This information is then followed up and resolved in accordance with applicable Company Regulations.

Certification Related to Fair OperationsThe Company does not yet have a certification of fair operating practices. However, the Company has been certified by ISO 9001 Quality Management by an external certification body. This certification is a form of verification of the service excellence that the Company provides, including fair operating practices.

Awards Related to Fair OperationsThe Company achieves many awards from clients for the services they provide. Various awards given in general can be assumed that customers get satisfaction with the Company's services, including fair operating practices carried out by the Company. One of them is regarding the anti-corruption practices implemented.


TANGGUNG JAWAB SOSIAL TERKAIT HAK ASASI MANUSIA (HAM)

Social Responsibility towards Human Rights

Komitmen dan Kebijakan Terkait Hak Asasi ManusiaSebagai perusahaan jasa energi, sumber daya manusia merupakan aset utama yang dimiliki Perseroan. Oleh karenanya, Perseroan berupaya penuh dalam pengelolaan sumber daya manusia. Pengelolaan ini termasuk jaminan hak asasi manusia yang merupakan hak dasar. Komitmen Perseroan adalah berupaya memastikan kesetaraan hak serta kesempatan untuk berpartisipasi dan memberikan kontribusi dalam praktik bisnis yang dijalankan Perseroan.

Landasan dasar Perseroan sebagai kebijakan pengelolaan hak asasi manusia mengacu pada ISO 26000 Tanggung Jawab Sosial. Hal ini meliputi praktik nondiskriminasi dan perhatian pada kelompok rentan; termasuk di dalamnya masyarakat lokal, perempuan, orang dengan disabilitas dan lain-lain.

Cakupan definitif ini telah dilaksanakan oleh Perseroan, baik dalam kegiatan operasional yang melibatkan karyawan, maupun kegiatan pengelolaan kegiatan usaha yang melibatkan masyarakat di sekitar lokasi usaha. Perseroan mendefinisikan hak asasi manusia sebagai hak mendasar bagi setiap individu yang terlibat maupun yang terkena dampak dari kegiatan operasi dan usaha yang dilakukan Perseroan.

Lingkup dan Perumusan terhadap Hak Asasi ManusiaKomitmen Perseroan dalam penegakan hak asasi manusia adalah memperlakukan semua karyawan, calon karyawan, mitra kerja dan masyarakat lokal secara setara tanpa membedakan jenis kelamin, suku, agama, ras dan pandangan politik. Perseroan memberikan pula kesempatan dan kesetaraan hak kepada penyandang disabilitas untuk turut serta berkontribusi dalam kegiatan operasional yang dijalankan. Perhatian ini tidak hanya melingkupi pelaksanaan di area kantor pusat, melainkan pula di area operasi dengan tetap memperhatikan berbagai risiko yang mungkin muncul.

Perseroan juga menjamin hak masyarakat lokal untuk turut berkontribusi dan menjalani kehidupan dengan tenang tanpa terganggu atau terkena dampak negatif akibat kegiatan operasional Perseroan. Jika upaya penghormatan hak asasi manusia sudah ditegakkan, dan ternyata masih terjadi masalah yang berkaitan dengan hak asasi manusia, maka Perseroan berusaha untuk menyelesaikan masalah tersebut dengan baik, melalui musyawarah untuk mufakat. Dengan berbagai pertimbangan ini, maka Perseroan berupaya semaksimal mungkin agar hak asasi manusia dapat terkelola dengan baik.

Perencanaan Tanggung Jawab Sosial Bidang Hak Asasi ManusiaPerseroan menargetkan untuk senantiasa menjalankan prinsip-prinsip hak asasi manusia yang ditujukan untuk membina hubungan industrial secara proporsional serta menciptakan hubungan yang sinergis antara Perseroan dan karyawan untuk meningkatkan nilai. Program tanggung jawab sosial terkait hak asasi manusia yang direncanakan oleh Perseroan di antaranya

Commitments and Policies Related to Human RightsAs an energy service company, human resources are the main assets owned by the Company. Therefore, the Company exerts in managing human resources. This management includes guarantees of human rights which are basic rights. The Company's commitment is to strive to ensure equality of rights and opportunities to participate and contribute to the business practices of the Company.

The basic foundation of the Company as a human rights management policy refers to ISO 26000 Social Responsibility. This includes the practice of non-discrimination and attention to vulnerable groups; including local communities, women, people with disabilities and others.

This definitive scope has been implemented by the Company, both in operational activities involving employees, as well as in managing business activities that involve the community around the business location. The Company defines human rights as fundamental rights for every individual involved and affected by the Company's operational and business activities.

Scope and Formulation of Human RightsThe Company's commitment to upholding human rights is to treat all employees, prospective employees, business partners and the local community equally without differentiating gender, ethnicity, religion, race and political views. The Company also provides opportunities and equal rights to persons with disabilities to participate in and contribute to the operational activities carried out. This attention does not only cover the implementation in the head office area, but also in the operational area while still taking into account various risks that may arise.

The Company also guarantees the right of local communities to contribute and live peacefully without being disturbed or negatively affected by the Company's operational activities. If efforts to respect human rights have been upheld, and in fact there are still problems relating to human rights, the Company is trying to resolve the problem properly, through deliberations to reach consensus. With these considerations, the Company makes every effort to ensure that human rights are well managed.

Planning for Social Responsibility towards Human RightsThe Company aims to continuously implement the principles of human rights. The aim is to foster industrial relations in a proportional manner and to create synergy between the Company and employees in order to increase values. The social responsibility programs on human rights that are planned by the Company include equality in employment opportunities and



adalah kesetaraan dalam kesempatan kerja dan pengembangan kompetensi, keadilan dalam pengupahan dan penghapusan diskriminasi, serta perlindungan penyaluran aspirasi dan pengaduan karyawan. Program kegiatan tanggung jawab terkait dengan hak asasi manusia ini, diharapkan membawa dampak positif bagi peningkatan produktivitas dan kinerja Perseroan, sehingga pada akhirnya dapat membawa pengaruh kepada peningkatan kesejahteraan karyawan sesuai dengan harapan stakeholder.

Pelaksanaan dan Pencapaian Inisiatif Tanggung Jawab Sosial Bidang Hak Asasi ManusiaDalam upaya memenuhi tanggung jawab sosial di bidang Hak Asasi Manusia, Perseroran menerapkan berbagai upaya. Beberapa di antaranya adalah sebagai berikut:

1. Kesetaraan dan Kesempatan Bekerja Penyandang DisabilitasPerseroan mempraktikan praktik ketenagakerjaan secara professional tanpa membedakan suku, agama, ras, golongan, gender, dan kondisi fisik. Hal ini termasuk kesempatan bagi penyandang disabilitas untuk dapat berkarya dan berkontribusi sebagai Pekerja Perseroan. Selain untuk memperoleh talenta terbaik yang ada, hal ini juga dilakukan untuk menciptakan budaya Perseroan yang menghargai keberagaman.

2. Pelibatan Masyarakat dalam Kegiatan OperasiPerseroan memberikan kesempatan dan kesetaraan yang sama kepada masyarakat lokal untuk berkontribusi dalam berbagai kegiatan di area operasi. Tentunya hal ini dengan mempertimbangkan berbagai faktor, salah satunya adalah kesehatan dan keselamatan kerja. Pelibatan masyarakat lokal sebagai bagian dari proyek perusahaan umumnya adalah sebagai tenaga teknis. Fungsi kerja yang dilibatkan antara lain sebagai humas lokal, pekerja pengeboran, topografi dan sebagainya dalam survei seismik, hingga admin maupun pekerjaan lainnya.

Dalam pelibatan ini, tidak ada masyarakat lokal yang dipekerjakan secara paksa, maupun pekerja di bawah umur. Selain itu setiap pekerja juga mendapatkan honor sesuai dengan kesepakatan awal.

3. Papuan AcademySalah satu langkah nyata Perseroan antara lain dengan membuka kesempatan bagi Pekerja yang berasal Timur Indonesia (Papua) untuk dapat bekerja di Perseroan. Program ini dikemas dalam “Papuan Academy” dimana para lulusan baru yang berasal dari Papua diberikan in class training dan on the job training sebelum terjun di dunia kerja.

4. Kebebasan BerserikatPerseroan memberikan hak kepada karyawan untuk bergabung dalam organisasi serikat pekerja. Organisasi ini diakui sebagai organisasi sah mewakili kepentingan karyawan di perusahaan serta dilibatkan dalam proses penyusunan Peraturan Perusahaan. Berbagai persoalan terkait ketenagakerjaan didiskusikan untuk musyawarah mufakat secara bipartit maupun tripartit.

competency development, fairness in wage and elimination of discrimination, as well as protection for the delivery of aspirations and complaints. These programs of social responsibility activities towards human rights are expected to have a positive impact on the productivity and performance of the Company. In the end, this will improve employee’s welfare according to stakeholder expectations.

Implementation and Achievement of Social Responsibility Initiatives in the Field of Human RightsIn an effort to fulfill social responsibility in the field of Human Rights, the Association has implemented various efforts. Some of them are as follows:

1. Equality and Employment Opportunities for Persons with DisabilitiesThe Company practices labor practices in a professional manner regardless of ethnicity, religion, race, class, gender, and physical conditions. This includes opportunities for people with disabilities to work and contribute as Company Workers. In addition to obtaining the best available talent, this is also done to create a corporate culture that values diversity.

2. Community Involvement in OperationsThe Company provides equal opportunities and equality to local communities to contribute to various activities in the area of operations. Of course this is by considering various factors, one of which is work health and safety. Involvement of local communities as part of company projects is generally as technical personnel. The functions of work involved include local public relations, drilling workers, topography and so on in seismic surveys, to administrators and other jobs.

In this engagement, there are no local people who are forced labor, or underage workers. In addition, each worker also gets a salary in accordance with the initial agreement.

3. Papuan AcademyOne of the concrete steps taken by the Company is by opening opportunities for Workers from Eastern Indonesia (Papua) to work at the Company. This program is packaged in "Papuan Academy" where new graduates who come from Papua are given in class training and on the job training before entering the workforce.

4. Freedom of Association The Company grants the right to employees to join trade union organizations. This organization is recognized as a legitimate organization representing the interests of employees in the company and is involved in the process of drafting Company Regulations. Various labor-related issues were discussed for consensus in bipartite and tripartite agreements.


5. Kegiatan Ibadah KeagamaanPerseroan memberikan kesempatan serta keleluasan kepada karyawan untuk menjalankan kegiatan ibadah wajib, sesuai dengan agama yang dianutnya. Perseroan juga menyediakan tempat dan sarana ibadah, untuk dipergunakan sebagai tempat peribadatan tersebut.

Inisiatif Tanggung Jawab Sosial Bidang Hak Asasi ManusiaPerseroan berkomitmen untuk menjadi perusahaan terkemuka jasa energi melalui solusi total terbaik pada layanannya. Solusi total ini sangat di pengaruhi oleh implementasi budaya kerja produktif dan terencana dalam organisasi. Maka Perseroan menetapkan sebagai salah satu instrument untuk membentuk budaya kerja yang produktif dan berkualitas dengan mengatur hak-hak dan kewajibaan normatif pekerja yang meliputi syarat-syarat kerja, tata tertib, kondisi kerja serta mewujudkan kepastian hukum bagi pekerja dalam pelaksanaan hubungan kerjanya dengan Perseroan. al ini untuk mendorong kinerja sebagaimana harapan bersama dan juga untuk meningkatkan motivasi dan ketenangan bekerja serta meningkatkan kesejahteraan pekerja.

Dalam membuat Peraturan Perusahaan yang mengatur tentang hak dan kewajiban pekerja, Perseroan melakukan konsultasi dengan Serikat Pekerja Perseroan. Dimana Peraturan Perusahaan ini wajib ditaati serta di penuhi oleh Perseroan, Serikat Pekerja, dan seluruh pekerja.

Prosedur dan Mekanisme Penanganan KonflikTerkait Hak Asasi ManusiaPerseroan menjamin terlaksananya kebijakan dengan baik dan meminimalisasi konflik yang terjadi terkait hak asasi manusia. Oleh karenanya, Perseroan mempersilahkan setiap aduan permasalahan disampaikan kepada serikat pekerja. Setiap keluhan maupun pengaduan yang sampai akan ditindaklanjuti secara independen. Serikat pekerja dapat melakukan advokasi maupun meminta ruang penyelesaian atas suatu permasalahan.

Dampak Terkait Praktik Hak Asasi ManusiaAtas pengelolaan ini, hubungan antara Perseroan dan serikat pekerja sebagai organisasi karyawan yang sah berlangsung dengan baik. Sepanjang 2019, tidak ada persoalan antara Perseroan dengan serikat pekerja maupun karyawan.

Sertifikasi Terkait Praktik Hak Asasi ManusiaPerseroan menerapkan ISO 26000 sebagai panduan praktik hak asasi manusia. Penerapan ini meliputi kesempatan serta kesetaraan hak individu untuk berkontribusi terhadap kemajuan perusahaan, praktik nondiskriminasi terhadap pekerja pada gender, etnis maupun suku yang berbeda, serta dorongan untuk pekerja disabilitas.

5. Religious Worship ActivitiesThe Company provides opportunities and flexibility for employees to carry out compulsory worship activities, in accordance with their religion. The Company also provides a place of worship and facilities, to be used as a place of worship.

Initiatives of Social Responsibility towards Human RightsThe Company is committed to becoming a leading company in energy services by offering the best total solution services. This total solution service is influenced by the implementation of work culture that focus on productivity and planning. As such, the Company sets an instrument to ensure the productive and high quality work culture, which regulates workers' normative rights and obligations that include work conditions, rules of conduct, working conditions, as well as ensures legal certainty for workers in the implementation of their working relationship with the Company. This is conducted to improve performance as expected together and to increase motivations to work, as well as to improve worker welfare.

In creating the Company’s Regulations that govern workers' rights and obligations, the Company also consulted with the Company's Labour Union. The Company’s Regulations must be obeyed and fulfilled by the Company, Labour Union, and all workers.

Procedures and Mechanisms for Managing Conflict Related to Human RightsThe Company guarantees the implementation of policies properly and minimizes conflicts that occur related to human rights. Therefore, the Company invites every complaint to be submitted to the union. Any complaints or complaints that will be followed up independently. Trade unions can advocate and ask for a solution to a problem.

Impacts Regarding Human Rights PracticesFor this management, the relationship between the Company and trade unions as a legitimate employee organization runs well. Throughout 2019, there were no problems between the Company and trade unions and employees.

Certification Related to Human Rights PracticesThe Company applies ISO 26000 as a guide to human rights practices. These applications include opportunities and equal rights of individuals to contribute to the progress of the company, the practice of non-discrimination against workers of different genders, ethnicities and ethnicities, as well as encouragement for workers with disabilities.



TANGGUNG JAWAB SOSIAL PERUSAHAANBIDANG LINGKUNGAN HIDUPCorporate Social Responsibility towards the Environment

Komitmen dan KebijakanPerseroan menyadari bahwa aktivitas operasional yang dilakukan dapat memberikan dampak positif maupun negatif bagi lingkungan hidup. Oleh karena itu, Perseroan berkomitmen untuk memaksimalkan dampak positif dari kegiatan operasional, serta meminimalkan dampak negatif yang dihasilkan terhadap lingkungan. Komitmen ini direalisasikan dengan melakukan pengelolaan lingkungan sebaik mungkin.

Upaya untuk mengimplementasikan pengelolaan lingkungan hidup ini dituangkan dalam kebijakan sebagai berikut:1. Memastikan pengelolaan lingkungan sesuai dengan regulasi,

persyaratan pelanggan dan memenuhi standar industri yang berlaku

2. Memitigasi risiko serta meminimalisasi dampak negatif dari aktivitas perusahaan dengan perbaikan berkelanjutan

3. Melaksanakan pengukuran dan pemantauan kualitas lingkungan secara berkala

4. Menggunakan teknologi dan sarana-prasarana yang memenuhi standar pengelolaan lingkungan.

5. Menyiapkan emergency response dan Sumber daya manusia yang kompeten

Sebagai landasan dari penerapan pengelolaan lingkungan hidup yang dilakukan Perseroan adalah Undang-Undang Nomor 32 Tahun 2009 tentang Perlindungan dan Pengelolaan Lingkungan Hidup, Undang-Undang Nomor 18 Tahun 2008 mengenai Pengelolaan Sampah, Undang-Undang Nomor 7 Tahun 2004 tentang Sumber Daya Air, Peraturan Pemerintah Nomor 27 Tahun 1999 tentang Analisis Mengenai Dampak Lingkungan Hidup (AMDAL), Peraturan Pemerintah Nomor 27 Tahun 2012 tentang Izin Lingkungan, Peraturan Pemerintah Nomor 101 Tahun 2014 tentang Pengelolaan Limbah Berbahaya dan Beracun

Risiko dan Dampak Kegiatan Usaha Perusahaan terhadap LingkunganPerseroan memiliki tiga jasa utama yang sifat layanannya berbeda-beda. Jasa hulu migas dengan lini jasa survei seismik umumnya berlokasi di area pemukiman penduduk, hutan, hingga laut. Sementara lini jasa pengeboran dan pengelolaan lapangan migas umumnya berlokasi di area operasional yang lebih terbatas bagi penduduk. Jasa distribusi dan logistik energi dengan kegiatan utama distribusi BBM beroperasi di berbagai wilayah padat penduduk. Jasa pendukung umumnya beroperasi di area fabrikasi ataupun warehouse.

Perbedaaan sifat layanan yang berbeda-beda ini tentunya memiliki risiko dan menimbulkan dampak yang berbeda-beda terhadap lingkungan. Pada jasa hulu migas lini jasa survei seimik, Perseroan menggunakan berbagai sumber getar dalam proses perekaman, memanfaatkan air sekitar untuk pengeboran, hingga melakukan pembukaan lintasan bila diperlukan. Salah satu risiko negatif yang mungkin muncul dari berbagai aktivitas ini antara lain perubahan struktur bawah tanah maupun lautan, berubahnya vegetasi sekitar hingga limbah yang dihasilkan.

Commitment and PolicyThe Company realizes that its operational activities can have positive or negative effects on the environment. Therefore, the Company is committed to maximizing the positive impacts of operational activities, as well as minimizing the negative impacts generated on the environment. This commitment is realized by making the best possible environmental management.

Efforts to implement the Company’s environmental management are outlined in the following policies:1. Ensuring environmental management complies with

regulations, customer requirements and meets applicable industry standards

2. Mitigating risks and minimizing the negative impact of company activities with continuous improvement

3. Carry out environmental quality measurements and monitoring on a regular basis

4. Using technology and infrastructure that meets environmental management standards.

5. Preparing emergency response and competent human resources

As the foundation of the implementation of environmental management carried out by the Company are Law Number 32 of 2009 concerning Environmental Protection and Management, Law Number 18 of 2008 concerning Waste Management, Law Number 7 of 2004 concerning Water Resources, Government Regulations Number 27 of 1999 concerning Analysis of Environmental Impacts (AMDAL), Government Regulation Number 27 of 2012 concerning Environmental Permits, Government Regulation Number 101 of 2014 concerning Management of Hazardous and Toxic Wastes.

Risks and Impacts of the Company's Business Activities on the EnvironmentThe Company has three main services, the nature of which is different. Upstream oil and gas services with seismic survey line services are generally located in residential areas, forests, to the sea. While the oil and gas field management and service lines are generally located in more limited operational areas for residents. Energy distribution and logistics services with the main activities of distribution of BBM operating in various densely populated areas. Supporting services generally operate in the fabrication or warehouse area.

The difference in the nature of these different services certainly has risks and causes different impacts on the environment. In the upstream oil and gas services, seimic survey line services, the Company uses various sources of vibration in the recording process, utilizing the surrounding water for drilling, to carrying out the opening of the track if necessary. One of the negative risks that may arise from these activities includes changes in the structure of the underground and ocean, changes in the surrounding vegetation to the resulting waste.


Sementara pada jasa hulu migas lini jasa pengeboran dan pengelolaan lapangan migas, Perseroan menggunakan alat pengeboran modular untuk mencapai sumber minyak. Kedalaman pengeboran dapat mencapai ribuan meter di bawah permukaan tanah. Selain itu, perseroan juga menggunakan berbagai teknologi untuk meningkatkan produksi termasuk penggunaan material maupun senyawa kimia. Risiko negatif yang muncul dari aktivitas ini antara lain pencemaran lingkungan karena material ataupun senyawa kimia yang digunakan, adanya tumpahan minyak hingga limbah B3 yang dihasilkan.

Pada jasa distribusi dan logistik energi, Perseroan mendistribusikan BBM dari suatu titik ke titik lainnya. Risiko negatif yang mungkin muncul adalah terjadinya tumpahan BBM hingga pencemaran udara yang dihasilkan dari kendaraan bermotor. Sementara jasa penunjang, memiliki risiko negatif yaitu pencemaran limbah B3 sebagai hasil aktivitas fabrikasi.

Berdasarkan berbagai risiko negatif ini, Perseroan berupaya sebaik mungkin melakukan pengelolaan lingkungan melalui berbagai kebijakan maupun program-program yang dilaksanakan.

Rencana dan Target Kegiatan di Sepanjang Tahun 2019Secara umum, Perseroan merencanakan berbagai program pengelolaan lingkungan baik di wilayah operasi, cabang, maupun kantor pusat. Program-program yang dilakukan meliputi upaya pengelolaan energi, material, air maupun sumber daya lain, pengukuran maupun pemantauan kualitas lingkungan, memastikan tidak terjadinya tumpahan minyak, dan sebagainya.

Sebagai target kinerja di tahun 2019, Perseroan menargetkan tidak adanya tumpahan minyak maupun kerusakan lingkungan sebagai indikator utama. Tentunya hal ini selain dari target umum bahwa hasil kualitas lingkungan tetap berada di bawah ambang batas.

Program dan Kegiatan yang DilakukanPerseroan melakukan program dan kegiatan tanggung jawab sosial terkait lingkungan hidup dalam bentuk kepedulian Perseroan terhadap kelestarian lingkungan dengan mencegah dampak pencemaran yang mungkin ditimbulkan dari kegiatan operasional Perseroan. Adapun program dan kegiatan tanggung jawab sosial perusahaan bidang lingkungan hidup yang dilakukan Perseroan adalah sebagai berikut:1. Pembaruan Dokumen Pengelolaan Lingkungan

Perseroan melakukan pembaruan dokumen terkait pengelolaan lingkungan di area operasional secara berkala. Tujuan dari pembaruan ini adalah untuk memastikan bahwa praktik pengelolaan lingkungan yang Perseroan jalankan telah sesuai dengan perkembangan standar industri yang berlaku. Salah satu standar yang menjadi acuan pembaruan dokumen adalah ISO 14001: 2015 Manajemen Pengelolaan Lingkungan.

2. Pemanfaatan Material/Chemical secara EfektifPerseroan menggunakan berbagai material/ chemical dalam melaksanakan berbagai layanan jasa energinya. Diversifikasi jasa yang dilakukan mempengaruhi penggunaan jenis material/ chemical ini berbeda-beda tiap tahunnya. Namun demikian, Perseroan selalu berusaha melakukan penggunaan material/ chemical tersebut secara efektif dan efisien.

Meanwhile, in the upstream oil and gas services, drilling and oil and gas field management services, the Company uses modular drilling tools to reach oil sources. The depth of drilling can reach thousands of meters below ground level. In addition, the Company also uses various technologies to increase production including the use of materials and chemical compounds. Negative risks arising from this activity include environmental pollution due to the material or chemical compounds used, the presence of oil spills to hazard waste produced.

In energy distribution and logistics services, the Company distributes fuel from one point to another. Negative risks that may arise are the occurrence of fuel spills to air pollution generated from motor vehicles. While supporting services, have a negative risk that is hazard waste pollution as a result of fabrication activities.

Based on these negative risks, the Company makes every effort to manage the environment through various policies and programs implemented.

Plan and Target of the Activities in 2019In general, the Company plans various environmental management programs in the area of operations, branches and headquarters. The programs carried out include efforts to manage energy, materials, water and other resources, measurement and monitoring of environmental quality, ensuring that oil spills do not occur, and so on.

As a performance target in 2019, the Company targets no oil spills or environmental damage as the main indicator. Surely this is apart from the general target that environmental quality results remain below the threshold.

Implemented Programs and ActivitiesThe Company implements social responsibility programs and activities towards the environment as part of the Company’s concern towards the environment. This is done by limiting pollution that may arise from the operational activities of the Company. The social responsibility programs and activities towards the environment that have been done by the Company are as follows:1. Renewal of Environmental Management Documents

The Company regularly updates documents related to environmental management in the operational area. The purpose of this reform is to ensure that the Company's environmental management practices are in accordance with the development of applicable industry standards. One of the standards used as a reference for document renewal is ISO 14001: 2015 Management of Environmental Management.

2. Effective use of materials/chemicalsThe Company uses various materials/chemicals in carrying out its various energy services. The diversification of services performed affects the use of this type of material/chemical, which varies each year. However, the Company always strives to use these materials/chemicals effectively and efficiently.



3. Pemanfaatan Sumber EnergiPerseroan menggunakan tiga jenis sumber energi dalam menunjang kegiatan operasional, yaitu solar, bensin dan listrik. Upaya penghematan dilakukan dengan menerapkan kebijakan-kebijakan efisiensi energi, seperti kebijakan efisiensi pencahayaan gedung pada area kurang produktif, pemanfaatan teknologi yang lebih ramah lingkungan, melakukan upaya perbaikan bangunan warehouse agar lebih ramah lingkungan dan lain-lain.

4. Pengukuran Kualitas Lingkungan KerjaSesuai dengan regulasi dan standar industri serta pemenuhan standar ISO 14001:2015, komitmen Perseroan terhadap kualitas lingkungan kerja diterapkan dalam bentuk pemantauan atas kualitas lingkungan kerja, baik di kantor pusat, kantor cabang, maupun warehouse tempat perusahaan beroperasi. Melalui fungsi Property Management, HSSE dan Asset Management menyelenggarakan pengukuran maupun evaluasi kualitas lingkungan kerja secara rutin.

5. Pengelolaan LimbahPerseroan menerapkan standarisasi pengelolaan limbah meliputi pengelolaan sampah biasa atau limbah padat non B3, pengelolaan limbah padat B3, serta pengelolaan limbah cair. Pengelolaan limbah padat diimplementasikan melalui pemilahan organik, anorganik serta wadah khusus untuk limbah B3 baik di kantor pusat, kantor cabang maupun area operasi. Perseroan bekerja sama dengan pihak ketiga untuk pengangkutan, pengelolaan limbah B3 hingga proses disposal akhir. Untuk pengelolaan limbah cair, Perseroan mengolah limbah yang dihasilkan di Kantor Pusat menggunakan sewage treatment plant sehingga memenuhi baku mutu dan menjadi layak buang. Limbah yang telah diolah, dapat dimanfaatkan kembali dan/atau dibuang pada saluran umum.

6. Kampanye Kesadaran LingkunganPerseroan melakukan berbagai kampanye untuk terus meningkatkan budaya pengelolaan lingkungan. Beberapa di antaranya mengambil momen pada perayaan dunia, seperti Hari Air Sedunia pada 22 Maret 2019, Peringatan Hari Bumi pada 22 April 2019, Peringatan Hari Lingkungan Hidup Sedunia pada 5 Juni 2019, dan kampanye lainnya.

3. Utilization of Energy SourcesThe Company uses three types of energy sources to support its operational activities, namely solar, gasoline and electricity. The saving effort is carried out by implementing energy efficiency policies, such as building lighting efficiency policies in less productive areas, utilizing more environmentally friendly technologies, making efforts to improve warehouse buildings to be more environmentally friendly and others.

4. Measurement of the Quality of the Work EnvironmentIn accordance with regulations and industry standards and compliance with ISO 14001: 2015 standards, the Company's commitment to the quality of the work environment is implemented in the form of monitoring the quality of the work environment, both at the head office, branch offices, and warehouses where the Company operates. Through the Property Management function, HSSE and Asset Management conduct measurements and evaluations of the quality of the work environment on a regular basis.

5. Waste ManagementThe Company implements standardization of waste management including management of ordinary or non-hazardous solid waste, management of hazardous solid waste, and liquid waste management. Solid waste management is implemented through organic, inorganic sorting and special containers for hazard waste at the head office, branch offices and operational areas. The Company cooperates with third parties for the transportation, management of B3 waste to the final disposal process.For liquid waste management, the Company processes waste generated at the Head Office using a sewage treatment plant so that it meets quality standards and is suitable for disposal. Waste that has been treated, can be reused and/or disposed of in public channels.

6. Environmental Awareness CampaignThe Company carries out various campaigns to continuously improve the culture of environmental management. Some of them took moments at world celebrations, such as World Water Day on March 22, 2019, Commemoration of Earth Day on April 22, 2019, Commemoration of World Environment Day on June 5, 2019, and other campaigns.


Bentuk Pelaksanaan CSR Bidang Lingkungan terkait Dampak terhadap Perusahaan, Pemegang Saham dan Stakeholder LainnyaKegiatan pengelolaan lingkungan yang dilalukan Perseroan di tahun 2019, berdampak positif terhadap kelangsungan Perseroan. Dimana melalui pengelolaan yang tepat dan sesuai prosedur yang berlaku atas operasional Perseroan, menghasilkan efisiensi biaya yang tentu saja berdampak positif terhadap kinerja keuangan Perseroan. Di samping itu, pengelolaan lingkungan terkait kegiatan operasional juga berdampak positif terhadap kelancaran proses kegiatan usaha Perseroan, dimana hampir tidak ada pengaduan yang signifikan dari masyarakat sekitar dan pihak-pihak yang berkepentingan terkait dampak kegiatan usaha Perseroan yang mencemari lingkungan.

Sementara itu, proses identifikasi bahaya lingkungan sejak dini dan pemantauan atas dampak dan risiko lingkungan yang secara berkala dilakukan Perseroan, berdampak positif terhadap keberlanjutan usaha Perseroan yang secara langsung maupun tidak langsung memperkuat serta meningkatkan kepercayaan pemegang saham terhadap Perseroan. Di mana hingga akhir tahun 2019, hampir tidak ada pengaduan terkait masalah atau pencemaran lingkungan dari masyarakat sekitar atas setiap proses kegiatan usaha Perseroan yang berdampak signifikan terhadap kelangsungan usaha Perseroan.

Begitupun dengan pengelolaan limbah, yang dilakukan secara tepat dan berdasarkan kentetuan serta prosedur yang berlaku, sejauh ini relatif aman dan tidak terdapat pengaduan dari masyarakat lingkungan sekitar terkait pencemaran lingkungan. Hal ini tentu saja lebih memperkuat kepercayaan para pemegangan saham dalam mendukung kinerja Perseroan ke depannya, guna mencapai pertumbuhan yang berkelanjutan.

Prosedur dan Mekanisme Pengaduan Masalah Lingkungan

Perseroan telah menyusun mekanisme pengaduan masalah lingkungan terkait kegiatan usaha yang dilakukan Perseroan. Upaya ini dilakukan untuk mengontrol tingkat kenyamanan masyarakat sekitar akibat kegiatan usaha yang dilakukan oleh Perseroan. Secara umum berbagai keluhan mengenai dampak kegiatan operasional terhadap lingkungan dapat dibagi pada dua area. Untuk area operasi, keluhan dapat disampaikan langsung kepada pimpinan yang bertanggung jawab dalam proyek. Sementara untuk area kantor pusat, dapat disampaikan langsung kepada pengelola gedung.

Form of Implementation of CSR Activities towards the Environment That Have Impact on the Company, Shareholders, and Other StakeholdersEnvironmental management activities carried out by the Company in 2019 have a positive impact on the sustainability of the Company. Through proper management and in accordance with applicable procedures for the Company's operations, The Company obtains cost efficiency, which positively impact the Company's financial performance. In addition, environmental management related to operational activities also has a positive impact on the smooth operation of the Company's business activities, whereby almost no significant complaints were received from the surrounding communities and stakeholders on the negative impact of the Company's business activities to the environment.

Meanwhile, the process of identifying environmental hazards in the early stage, and the regular monitoring of environmental impacts and risks carried out by the Company, have a positive impact on the sustainability of the Company's business, which directly and indirectly strengthens and increases shareholders’ confidence in the Company. Until the end of 2019, there were almost no complaints related to environmental problems or pollution from the surrounding communities on every process of the Company's business activity that had a significant impact on the Company's business.

Moreover, waste management is carried out in an appropriate manner and based on the prevailing rules and procedures. This is to ensure that the activities are relatively safe, and there are no complaints from the surrounding communities related to environmental pollution due to these activities. This further strengthens the confidence of shareholders in supporting the Company's performance going forward, in order to achieve sustainable growth.

Procedures and Mechanisms of Reporting for Environmental ProblemsThe Company has established a mechanism for reporting complaints on environmental issues that are related to the Company’s business activities. In general, various complaints regarding the impact of operational activities on the environment can be divided into two areas. For the area of operations, complaints can be submitted directly to the leader in charge of the project. While for the head office area, it can be delivered directly to the building manager.



Penghargaan dan Sertifikasi di Bidang Lingkungan HidupPerseroan menerapkan ISO 14001: 2015 dalam hal pengelolaan lingkungan. Standarisasi ini merupakan inisiatif Perseroan untuk melakukan evaluasi dan memastikan bahwa pengelolaan lingkungan yang diterapkan telah sesuai standar eksternal. Sertifikasi dari standar ini masih berlaku hingga dua tahun mendatang.

Selain itu, atas pencapaian pengelolaan lingkungan yang telah diterapkan, Perseroan meraih beberapa penghargaan. Salah satunya adalah Mahakam Award untuk ke-8 kalinya.

Sertifikasi Bidang Lingkungan yang Masih Berlaku di Tahun 2019Certifications on Environmental Aspects that Are Still Valid in 2019

Tanggal Dikeluarkannya Sertifikasi

Date of Issuance

Jenis SertifikatTypes of Certification

Dikeluarkan OlehIssuing Body

Masa Berlaku HinggaValidity period

22 Agustus 2018August 22, 2019 ISO 14001 : 2015 SGS Indonesia 21 Agustus 2021

August 21, 2021

Penghargaan di Bidang Lingkungan Tahun 2019Awards on the Environmental Aspect in 2019

TanggalDate

Nama PenghargaanAward

Institusi yang MemberikanAwarding Institution

4 Februari 2019February 4, 2019

Penghargaan kategori “very good”dalam penerapan sistem manajemen HSE kontraktor tahun 2018 untuk kegiatan survei seismic"Very good" award in the implementation of 2018 HSE contractor management system for seismic survey activity

Pertamina EP

28 Februari 2019February 28, 2019 HSE Communication Forum 2019 (The most improved camp accommodation) Pertamina Hulu Mahakam

Dampak Pengelolaan LingkunganSepanjang 2019, tidak ada keluhan yang disampaikan masyarakat maupun pihak ketiga atas pengelolaan limbah yang dilakukan Perseroan baik di wilayah operasi maupun kantor pusat. Tidak ada pula tumpahan minyak yang terjadi.

Biaya dan/atau Investasi Kegiatan CSR Aspek Lingkungan

Biaya pengelolaan lingkungan Perseroan mengikat pada biaya operasional.

Awards and Certificates in Environmental AspectThe Company applies ISO 14001: 2015 in terms of environmental management. This standardization is an initiative of the Company to conduct evaluations and ensure that the environmental management that is implemented complies with external standards. Certification of this standard is still valid for the next two years.

In addition, for the achievement of environmental management that has been implemented, the Company won several awards. One of them is the Mahakam Award for the 8th time.

Impact of Environmental ManagementThroughout 2019, there were no complaints made by the public or third parties regarding waste management carried out by the Company both in the operational area and in the head office. No oil spill happened.

Costs and/or Investments in CSR Activities Environmental AspectsThe Company's environmental management costs are binding on operational costs.


TANGGUNG JAWAB SOSIAL PERUSAHAAN BIDANG KETENAGAKERJAAN, KESEHATAN DAN KESELAMATAN KERJA

Corporate Social Responsibility towards Employment, Occupational Health and Safety

Komitmen dan KebijakanHubungan industrial yang baik antara Perseroan dengan seluruh karyawan merupakan kunci dalam menunjang pencapaian berbagai target Perseroan. Implementasi kebijakan tanggung jawab sosial perusahaan terkait praktik ketenagakerjaan adalah tanggung jawab Perseroan terhadap karyawan sebagai pemangku kepentingan internal. Implementasi ini meliputi praktik terbaik atas pengelolaan ketenagakerjaan, keseimbangan antara pekerjaan dengan kehidupan pribadi, serta persamaan hak dan kesempatan kerja.

Untuk memastikan praktik ketenagakerjaan ini, Perseroan menerapkan berbagai kebijakan. Di antaranya melakukan berbagai pemenuhan atas hak karyawan, melakukan pengembangan talenta, mengupayakan remunerasi yang kompetitif, memberikan apresiasi serta menciptakan lingkungan kerja yang kondusif.

Selain praktik ketenagakerjaan, Perseroan juga mengupayakan praktik mitigas kesehatan dan keselamatan kerja terbaik untuk para pekerjanya. Komitmen ini meliputi mitigasi maupun minimalisasi atas risiko kecelakaan, penyakit ataupun absensi kerja yang dapat terjadi pada karyawan, pelanggan, mitra kerja ataupun pemangku kepentingan lainnya.

Komitmen Perseroan dalam memprioritaskan aspek kesehatan dan keselamatan kerja dikenal dengan slogan PUT 5M, yaitu dengan menjadikan K3 sebagai 1) Prioritas utama setiap melakukan kegiatan, 2) Ukuran untuk menilai kualitas pekerjaan dan pekerja, dan 3) Tanggung jawab manajemen dan seluruh pekerja. Untuk memastikan PUT, Perseroan memiliki kebijakan Quality, Health, Safety, Security, & Environment (QHSSE) untuk:

1. Menerapkan standar QHSSE yang memenuhi peraturan perundangan, persyaratan pelanggan dan standar industri yang berlaku.

2. Menyiapkan organisasi dan sumber daya manusia yang kompeten dan profesional.

3. Menggunakan teknologi dan sarana-prasarana kerja yang tepat dan memenuhi standar QHSSE.

4. Menetapkan, mengukur, mengaudit dan melaporkan kinerja QHSSE untuk melakukan perbaikan secara berkesinambungan.

5. Menghilangkan bahaya dan meminimalkan risiko keselamatan, kesehatan, keamanan dan lingkungan, mencegah pencemaran dan kerugian akibat aktifitas perusahaan dengan melakukan perbaikan berkelanjutan.

Kebijakan yang diterapkan Perseroan dalam memitigasi risiko kerja adalah tetap melanjutkan kebijakan sebelumnya, yaitu 9 HSE Golden Rules dan Elnusa Zero Tolerance dalam seluruh aktivitas operasional di lingkungan kerja Elnusa Group dan berlaku untuk semua level.

Commitment and PolicySound industrial relations between the Company and all employees is key in supporting the achievement of various targets of the Company. Implementation of corporate social responsibility policies related to labor practices is the Company's responsibility towards employees as internal stakeholders. This implementation includes the best practices for managing labor, the balance between work and personal life, as well as equal rights and employment opportunities.

The Company puts occupational health and safety as central focus points in each of its operational activities. This is a commitment of the Company to mitigate and minimize the risk of accidents, illness or absenteeism that can occur among employees, customers, work partners or other stakeholders.

In addition to labor practices, the Company also strives for the best occupational health and safety mitigation practices for its employees. This commitment includes mitigation and minimization of the risk of accidents, illness or work absences that can occur to employees, customers, business partners or other stakeholders.

The Company’s commitment to put priority on the occupational health and safety aspects in its operations is known as “PUT 5M”. This places health and safety as 1) its main priority for each activity, 2) a measure for assessing the quality of its work and its workers, and 3) the responsibility of management and all workers. In order to ensure the implementation of PUT, the Company makes use of the following Quality, Health, Safety, Security, & Environment (QHSSE) policies:1. Implementing QHSSE standards that are in line with

prevailing laws and regulations, customer requirements and industry standards.

2. Preparing competent and professional organizations and human resources.

3. Using appropriate technology and work facilities that meet QHSSE standards.

4. Establishing, measuring, auditing and reporting on QHSSE performance in order to make continuous improvements.

5. Eliminating hazards and minimizing health, safety and environmental risks, and preventing pollution and losses due to company activities by carrying out continuous repairs

The Company’s policy for mitigating work-related risks is to continue implementing its previous policies, namely, its 9 HSE Golden Rules and its Elnusa Zero Tolerance, in all of its operational activities in the work environment of Elnusa Group. This policy applies to all levels of the organization.



Setiap pekerja wajib mengenakan Alat Pelindung Diri (APD) yang sesuai

saat bekerja.Each worker must wear the

appropriate Personal Protective Equipment (PPE) while working

Prosedur dan program kerja harus dipatuhi dan dijalankan oleh pekerjaWork procedures and programs must be obeyed and carried out by workers.

Setiap perubahan, prosedur dan proses kerja harus dicatat dalam manajemen

perubahan.Each change as well as work procedure and program must be recorded in the

management of change.

Setap pekerjaan berisiko tinggi harus mendapatkan izin kerja

Any kind of high-risk work must require a work permit

Sanksi tegas terhadap pekerja yang mengkonsumsi miras dan narkoba

saat bekerjaThere are strict sanctions for workers who consume alcohol and drugs while

working.

Setiap operasi pengangkatan harus memenuhi ketentuan persyaratan keselamatan pengangkatan yang

ditetapkanEach lifting operation must meet the

stipulated safety requirements.

Kalibrasi dan sertifikasi harus selalu dilakukan pada setiap peralatan yang

akan digunakan untuk pekerjaan berisiko tnggi

Calibration and certification must always be carried out on any equipment that will

be used for high-risk work.

Setiap peralatan atau sistem yang menyimpan energi harus sudah

dipastikan isolasi energinyaAny equipment or system that stores

energy must be ensured that its energy has been properly isolated.

Pekerja berkewajiban mematuhi standar keselamatan transportasi

yang berlaku.Workers are obliged to comply with

applicable transportation safety standards.

9 HSE GOLDEN RULES

Wajib menggunakan APD sesuai pekerjaan dan area kerja.

Must use the appropriate PPE in accordance to the nature of the work

and work areas involved.

Tidak madat, mabuk, miras narkoba & obat-obatan terlarang.

Must not be inebriated or consume alcoholic drinks or illegal drugs.

Elnusa Zero Tolerance

Wajib menggunakan sabuk pengaman saat berkendara (pengemudi dan

penumpang).Must use a seat belt when driving

(both driver and passengers).

Wajib menggunakan life jacket saat menggunakan alat transportasi air.Must use a life jacket when using

water transportation.

Tidak menggunakan alat komunikasi saat berkendara (pengemudi).

Don’t use communication tools when driving (driver).

Tidak merokok saat berada di kendaraan atau perahu (pengemudi

dan penumpang).Don’t smoke while in a vehicle or boat

(both driver and passengers).

Tidak mengemudi di atas batas kecepatan yang ditetapkan.

Don’t drive above specified speed limits.


Lingkup dan Perumusan Tanggung Jawab Sosial Aspek Ketenagakerjaan, Kesehatan dan Keselamatan KerjaLingkup kegiatan tanggung jawab sosial perusahaan terkait ketenagakerjaan, kesehatan dan keselamatan kerja terdiri dari pada program ketenagakerjaan yang meliputi kesetaraan gender, kesempatan kerja yang sama, kesetaraan dalam program pengembangan kompetensi, pemenuhan hak kesejahteraan karyawan, remunerasi, pembentukan lingkungan kerja yang kondusif, rekrutmen dan turnover karyawan, apresiasi terhadap karyawan, kebebasan berserikat, serta program lainnya.

Rencana dan Target Kegiatan di Sepanjang Tahun 2019Perseroan merencanakan dan menargetkan obyektif yang hendak dicapai tiap tahunnya. Dalam lingkup tanggung jawab sosial ketenagakerjaan, Perseroan menargetkan peningkatan kapabilitas SDM yang unggul melalui program multi talented, membangun budaya kinerja tinggi dan mengimplementasikan berbagai program otomasi proses bisnis ketenagakerjaan untuk meningkatkan layanan kepada pekerjanya. Selain itu untuk memastikan peran strategisnya, Perseroan juga memastikan ketersediaan sumber daya yang kompeten untuk dapat memberikan jasa terbaik kepada pelanggan.

Dalam lingkup tanggung jawab sosial kesehatan dan keselamatan kerja, Perseroan menargetkan tidak adanya kecelakaan kerja yang menyebabkan kematian maupun hilangnya waktu kerja. Target ini berlaku bukan hanya kepada karyawan, melainkan mitra kerja yang turut serta mendukung pekerjaan operasional perusahaan.

Program dan Kegiatan Terkait Ketenagakerjaan1. Pemenuhan Hak Karyawan: Keseimbangan antara Pekerjaan

dan Kehidupan Pribadi, Kesetaraan Gender, Kesempatan Kerja yang Sama, dan Pengembangan KarirSistem rekrutmen Perseroan memberikan kesempatan yang sama kepada semua Warga Negara Republik Indonesia untuk dapat diterima menjadi karyawan Perseroan. Perseroan menjamin tidak adanya pemaksaan kerja kepada karyawan. Setiap pekerja yang mendapatkan perintah untuk bekerja lembur mendapatkan kompensasi sebagai timbal balik. Demikian juga halnya dalam pengembangan karir, sistem pengembangan Sumber Daya Manusia (SDM) yang berlaku di internal Perseroan memberikan kesempatan yang sama kepada setiap karyawan untuk dipromosikan ke jabatan yang lebih tinggi. Perseroan memberikan hak yang sama pada setiap karyawan tanpa membedakan latar belakang identitas dan gender, sebagaimana tercantum dalam Peraturan Perusahaan.

2. Pengembangan Talenta Tenaga KerjaSumber Daya Manusia merupakan penggerak utama dalam operasional Perseroan, karena itu potensi dan talenta yang dimiliki SDM harus dapat dipertahankan dan dikembangkan serta dipergunakan secara optimal. Perseroan berkewajiban untuk melakukan upaya-upaya tersebut, salah satunya berbentuk pendidikan dan pelatihan.

Scope and Formulation of Social Responsibility towards Employment, Occupational Health and SafetyThe Scope of Social Responsibility towards employment, Health, and Safety comprises of employment programs which relates to gender equality, equal opportunities, equality in competency development programs, fulfilment of welfare rights for employees, remuneration, conducive work environment, employee’s recruitment and turnover, employee’s appreciation, freedom to create union, as well as other programs.

Planned Activities and Target in 2019The Company plans and targets the objectives to be achieved each year. Within the scope of social responsibility for labor, the Company targets to improve the capability of superior human resources through multi-talented programs, build a high-performance culture and implement various employment business process automation programs to improve services to its employees. In addition to ensuring its strategic role, the Company also ensures the availability of competent resources to be able to provide the best service to customers.

Within the scope of occupational health and safety social responsibility, the Company targets no work accidents that cause death or loss of work time. This target applies not only to employees, but partners who participate in supporting the company's operational work.

Programs and Activities Related to Employment1. Fulfillment of Employee Rights: Work Life Balance, Gender

Equality, Equal Opportunity in Working and Career DevelopmentThe Company's recruitment system provides equalopportunities to all citizens of the Republic of Indonesia to be accepted as employees. The Company guarantees there is no forced labor to employees. Every workers with over time request had a fair compensation. This is also the case in career development in which the internal Human Resources (HR) development system provides equalopportunities for each employee to be promoted to a higher position. The Company grants the same rights to every employee regardless of identity and gender background, as stated in Company Regulations

2. Workforce Talent DevelopmentHuman Resources is the main driver of the Company's operations. Therefore, the potential talents and skills of the employees must be maintained and developed and used optimally. The Company is obliged to make these efforts, and one of which takes the form of education and training.



Pendidikan dan pelatihan bertujuan untuk meningkatkan mutu, keahlian, kemampuan dan keterampilan serta profesionalisme. Perseroan memberikan kesempatan yang sama kepada karyawan untuk mengikuti Program Pendidikan dan Pelatihan dengan biaya penuh dari Perseroan.

3. RemunerasiPerseroan senantiasa mentaati seluruh aturan yang berlaku terkait remunerasi kepada karyawan, yang besarannya telah disesuaikan dengan ketentuan yang berlaku dan berada di atas standar Upah Minimum yang berlaku di wilayah operasional Perseroan. Terkait dengan remunerasi, Perseroan senantiasa berupaya menjaga gap rasio gaji seluruh karyawan agar tidak terdapat perbedaan yang terlalu tinggi. Sebagai bagian dari transparansi informasi, berikut disampaikan rasio gaji/remunerasi tertinggi dan terendah per bulan yang menggambarkan jenjang gaji/remunerasi yang diberlakukan Perseroan.

Rasio Gaji/Remunerasi Tertinggi dan Terendah per BulanHighest and Lowest Salary/Remuneration Ratio per Month

Rasio Gaji/RemunerasiSalary/Remuneration Ratio

Skala PerbandinganComparison Scale

2019 2018Rasio gaji karyawan yang tertinggi dan terendahRatio of Highest and lowest salary of employee 1 :21,13 1 :21,92

Rasio gaji Direksi yang tertinggi dan terendahRatio of the highest and the lowest salary of the member of the Board of Directors 1 :1,18 1 :1,11

Rasio gaji Dewan Komisaris yang tertinggi dan terendahRatio of the highest and the lowest salary of the member of the Board of Commissioners 1 :1,11 1 :1,11

Rasio gaji Direksi yang tertinggi dan karyawan tertinggiRatio of the highest salary of the member of the Board of Directors and highest salary of the employee

1 :2,16 1 :2,29

Yang dimaksud karyawan tertinggi pada tabel di atas adalah level Vice President, sementara karyawan terendah adalah level staff.

4. ApresiasiPerseroan memberikan penghargaan internal dalam rangka memotivasi efektivitas kinerja karyawan, penghargaan ini diharapkan dapat menjadi contoh baik bagi karyawan lainnya untuk dapat meningkatkan standarisasi yang sesuai dengan prosedur tetap yang dimiliki Perseroan.

Perseroan juga memberikan tanda penghargaan yang diberikan kepada karyawan yang telah berkontribusi dan memperlihatkan loyalitasnya kepada Perseroan. Tanda penghargaan yang diberikan Perseroan kepada karyawan yang telah bekerja terus menerus dengan sungguh-sungguh setia dan berkelakuan baik dalam jangka waktu tertentu.

5. Pembentukan Lingkungan Kerja yang KondusifDalam rangka untuk menciptakan lingkungan kerja yang baik bagi seluruh pekerja, sekaligus menjalankan program community development untuk lingkungan sekitar, Perseroan telah melakukan serangkaian program employee welfare di lingkungan Perseroan. Program-program tersebut dilakukan secara mingguan, bulanan, maupun tahunan dalam bentuk

Education and training aims to improve the quality, expertise, abilities and skills and professionalism of the employees. The Company provides equal opportunities for all employees to take part in the Education and Training Program at the full expense of the Company.

3. RemunerationThe Company continuously follows all prevailing regulations related to employees’ remuneration. The amount of remuneration has been adjusted to be based on the prevailing requirements, and is above the Minimum Wage in the Company's operational areas. Related to remuneration, the Company always strives to minimize the gap of salaries for all employees so that there are no differences that are significantly high. As part of information transparency, the following is the highest salary/remuneration ratio per month that illustrates the salary/remuneration level imposed by the Company.

The highest employee in this table refers to Vice President level, and the lowest refers to staff.

4. AppreciationThe Company gives internal awards in order to motivate the employee to work effectively. This award serves as a good example for other employees so as to be able to increase standardization processes in accordance with fixed procedure of the Company.

The Company also gives a token of appreciation to employees who have contributed and show their loyalty to the Company. A token of appreciation is given by the Company to employees who have loyally worked continuously in a good manner for a certain period.

5. Establishing Conducive Work EnvironmentIn order to create a good work environment for all employees, as well as to run community development programs for the surrounding environment, the Company has done a series of welfare programs for employees within the Company. These programs are carried out on a weekly, monthly, or annual basis in the form of sports, religious activities, and


other facilities, as well as in other forms, such as providing welfare assistance:a. Work service/anniversary rewardsb. Pension preparation program and award of retirement

age 55 yearsc. Prizes for hajj, umrah & jerusalem trips, as well as

scholarships for children of outstanding workersd. Medical check-ups, vaccinations, and provision of

health facilities (clinics, doctors & ambulances)e. Birth and funeral assistancef. Provision of sports facilities includes 17 sports and

2 artsg. Provision of worship facilities and religious activities

include Muslim recitation, deepening of the faith and so on

h. Celebration of the Company's anniversary

6. Employees’ turnover

In the last five years, to adapt to fluctuations in world oil prices, the Company shifted the focus of the strategy to non-asset based businesses. Examples of this work include engineering, procurement, construction, operation & maintenance. The adaptation of this business strategy has resulted in an increase in the number of new employees, especially in 2018 and 2019. The turnover rate throughout 2015 to 2018 is below 2%, while there is a slight increase in 2019 to 2.5%

kegiatan olahraga, keagamaan dan fasilitas serta bentuk lain nya, seperti memberikan bantuan kesejahteraan :a. Penghargaan masa kerja/ ulang tahun dinasb. Program siap pensiun dan penghargaan masa persiapan

pensiun usia 55 tahunc. Hadiah perjalanan ibadah haji, umrah, & jerusalem,

maupun beasiswa untuk anak pekerja yang berprestasid. Medical check up, vaksinasi, maupun penyediaan

fasilitas kesehatan (klinik, dokter & ambulance)e. Bantuan melahirkan dan pemakamanf. Penyediaan fasilitas olahraga meliputi 17 cabang

olahraga dan 2 cabang keseniang. Penyediaan fasilitas ibadah dan aktivitas keagamaan

meliputi pengajian muslim, pendalaman iman dan sebagainya

h. Perayaan hari ulang tahun Perseroan

6. Turnover Pekerja

124103

147

373

386

92

165

172

86

384

20192017 201820162015

Pekerja MasukNew Workers

Pekerja KeluarResigned workers

Jumlah PekerjaTotal workers

1.299

1.1441.086

1.354 1.349

Movement PekerjaWorkers Movement

Pada lima tahun terakhir, untuk beradaptasi terhadap fluktuasi harga minyak dunia, Perseroan mengalihkan fokus strategi menjadi bisnis berbasis non-aset. Contoh dari pekerjaan ini antara lain engineering, procurement, construction, operation & maintenance. Adaptasi strategi bisnis ini menyebabkan jumlah penerimaan pekerja baru mengalami peningkatan terutama pada tahun 2018 dan 2019.

Untuk turn over rate Sepanjang tahun 2015 sampai 2018 di bawah 2%, sedangkan di tahun 2019 ada sedikit peningkatan sebesar 2,5%.



7. Employees’ Satisfaction SurveyIn order to increase morale and harmonious communication, and build the company into a strong organization, and a pleasant workplace. So the Company has conducted an Employee Engagement Survey (EES) in 2019 to obtain input on the level of satisfaction and motivation of all Company Workers. Based on the survey results, the Company obtained an employee satisfaction index of 93.5%.

8. Freedom of AssociationThe Company always strives to build healthy employment relations in accordance with prevailing regulations as stated in Law No. 13 of 2003 regarding employment, which guarantees freedom of association for all employees. The Company has a professionally managed worker’s union as a mean of liaising between employees and the Company.

The Elnusa trade union, namely SP Elnusa (SPE), also gives consultations to the Company in the preparation of Company Regulations (PP), which regulates employees' rights and obligations to the Company and vice versa. The last document on the Company Regulation (PP) that binds the Company Management and the Elnusa SP was ratified by Decision of the Director General of Industrial Relations and Workers Social Security No. KEP.411/PHIJSK-PKKAD/PP/IV/2015 on April 17, 2015. The Company has been quite successful in managing conducive relationships with employees, whereby throughout 2019, there were no demonstrations conducted by employees.

Programs and Activities Related to Occupational Health and Safety (OHS)1. Implementation of the OHS Program in All Operations Areas

This program is the Company's commitment to ensuring zero fatality and excellent OHS performance in every area of operations. This work is done by:

Tingkat Turnover Pekerja 2015-2019Employees Turnover Rate 2015-2019

1,3%

1,7%

1,7%

1,8%

2,5%

2015

2016

2017

2018

2019

7. Survei Kepuasan PekerjaDalam rangka meningkatkan semangat kerja dan komunikasi yang harmonis, dan membangun Perseoran menjadi organisasi yang tangguh, serta tempat kerja yang menyenangkan. Maka Perseroan telah melakukan Employee Engagement Survey (EES) pada tahun 2019 untuk memperoleh masukan mengenai tingkat kepuasan serta motivasi dari seluruh Pekerja Perseroan. Berdasarkan hasil survei, Perseroan mendapatkan indeks kepuasan karyawan sebesar 93,5%.

8. Kebebasan BerserikatPerseroan selalu berupaya membangun hubungan ketenagakerjaan yang sehat sesuai dengan aturan yang berlaku sebagaimana yang di atur dalam Undang-Undang No. 13 Tahun 2003 tentang Ketenagakerjaan yang menjamin kebebasan berserikat bagi semua karyawan. Perseroan telah memiliki organisasi pekerja yang dikelola profesional sebagai sarana penghubung antara karyawan dan Perseroan.

Serikat pekerja Elnusa bernama SP Elnusa (SPE) juga memberikan konsultasi kepada Perseroan dalam penyusunan Peraturan Perusahaan (PP) yang mengatur hak dan kewajiban karyawan kepada Perseroan dan sebaliknya. Dokumen Peraturan Perusahaan (PP) yang mengikat pihak Manajemen Perseroan dan SP Elnusa terakhir disahkan melalui Keputusan Direktur Jenderal Pembinaan Hubungan Industrial dan Jaminan Sosial Tenaga Kerja No. KEP.411/ PHIJSK-PKKAD/PP/IV/2015 pada tanggal 17 April 2015. Perseroan terbilang cukup berhasil dalam mengelola hubungan yang kondusif dengan karyawan, dimana di sepanjang tahun 2019, tidak terdapat demonstrasi yang dilakukan oleh para karyawan.

Program dan Kegiatan Terkait Kesehatan dan Keselamatan Kerja (K3)1. Implementasi Program K3 di Seluruh Area Operasi

Program ini merupakan komitmen Perseroan dalam memastikan zero fatality dan kinerja K3 ekselen di setiap area operasi. Upaya ini dilakukan dengan:


a. Melaksanakan dan mengembangkan program kerja K3 operasi yang mengacu pada rencana & target perusahaan, sistem manajemen, persyaratan klien serta perundang- undangan yang berlaku,

b. Melakukan kampanye K3, induksi, pelatihan kompetensi dan program pendukung K3lain,

c. Memonitor dan memastikan implementasi K3 operasi telah sesuai dengan standar manajemen K3 Perseroan, dan

d. Menjalankan, mengawasi, mengkoordinasikan serta menyiapkan sarana dan prasarana serta SDM yang dibutuhkan untuk menunjang implementasi program kerja K3.

Untuk menjamin pemenuhan aspek K3 bagi pekerja, Perseroan juga menegaskan komitmen ini dalam Peraturan Perusahaan (PP). Pemenuhan aspek K3 bagi pekerja tercantum dalam PP Bab VI Pasal 32 hingga Pasal 45, atau 20% dari keseluruhan pasal yang terdapat pada PP. Hal ini merupakan bentuk kepatuhan dan komitmen terhadap K3 yang menjadi tanggung jawab bersama baik pihak manajemen maupun karyawan.

2. Mengembangkan Sistem Pemantauan Kinerja K3 Perseroan mengembangkan sistem daring pemantauan kinerja operasi dan K3 secara terintegrasi. Pada sistem ini kinerja K3 Perseroan dan anak perusahaan telah dapat dipantau dengan baik melalui dashboard kinerja.

3. Penerapan Sistem Manajemen Keselamatan Kerja Kontraktor (CSMS)Sistem ini merupakan standar wajib untuk dipenuhi mitra kerja Perseroan dengan risiko pekerjaan pada level medium - tinggi. Melalui sistem ini, Perseroan melakukan penilaian dan perbaikan kinerja K3 mitra kerja sebelum memulai pekerjaan. Hal ini untuk memastikan bahwa mitra kerja layak untuk melakukan pekerjaan dan mendukung tercapainya target kinerja HSE Perseroan.

4. Pelatihan Kompetensi K3Perseroan menyelenggarakan pelatihan kepada seluruh karyawan untuk mendukung penerapan K3. Topik pelatihan wajib yang diikuti karyawan antara lain basic safety training dan basic first aid. Pelatihan mandatori lainnya adalah manajemen K3 berbasis ISO 9001, ISO 14001 serta OHSAS 18001 level manajemen dan personel operasi.

5. Manajemen Krisis secara Terintegrasi.Perseroan mengintegrasikan seluruh fungsi terkait dalam penanggulangan krisis HSE sebagai bentuk tanggap darurat untuk mempercepat proses penanganan dengan berpusatkan di Crisis Management Center.

6. Pelayanan Kesehatan dan Penanganan Evakuasi MedisPerseroan menjalin kerja sama dengan klinik eksternal untuk menyediakan pelayanan medis dan penanganan evakuasi medis untuk seluruh karyawan Elnusa. Klinik ini juga berfungsi dalam memantau pelaksanakan pemeriksaan kesehatan karyawan secara rutin.

a. Implement and develop awork program of OHS operation that refers to the company's plans & targets, management systems, client requirements and applicable laws,

b. Carrying out OHS campaigns, induction, competency training and other OHS support programs,

c. Monitor and ensure the implementation of OHS operations in accordance with the Company's OHS management standards, and

d. Run, supervise, coordinate and prepare the facilities and infrastructure and human resources needed to support the implementation of the OHS work program.

To ensure the fulfillment of OHS aspects for workers, the Company also confirms this commitment in Company Regulations (PP). Compliance with K3 aspects for workers is listed in PP Chapter VI Article 32 to Article 45, or 20% of all articles contained in PP. This is a form of compliance and commitment to OHS which is a joint responsibility of both management and employees.

2. Developing OHS Performance Monitoring SystemThe Company has developed an integrated online system for monitoring operational and OS.H. performance. In this system the K3 performance of the Company and its subsidiaries has been well monitored through the performance dashboard.

3. Implementation of a Contractor Safety Management System (CSMS)This system is a mandatory standard to be fulfilled by the Company's business partners with work risks at medium - high level. Through this system, the Company conducts an assessment and improvement of the work partners' K3 performance before starting work. This is to ensure that the work partners are fit to do the work and support the achievement of the Company's HSE performance targets.

4. OHS Competency TrainingThe Company conducts training for all employees to support the application of OHS. The topic of compulsory training attended by employees includes basic safety training and basic first aid. Other mandatory training is OHS management based on ISO 9001, ISO 14001 and OHSAS 18001 level of management and operations personnel.

5. Integrated Crisis Management.The Company integrates all related functions in HSE crisis management as a form of emergency response to speed up the handling process by focusing on the Crisis Management Center.

6. Health Services and Medical Evacuation HandlingThe Company cooperates with external clinics to provide medical services and medical evacuation handling for all Elnusa employees. This clinic also functions in monitoring the implementation of routine employee health checks.



7. Pemeriksaan Kesehatan Rutin dan Berkala.Perseroan berkomitmen menerapkan medical check-up rutin untuk meminimalkan risiko kecelakaan kerja akibat faktor kesehatan. Program ini juga di monitor secara langsung tindak lanjutnya oleh Klinik Elnusa dan dilakukan pemantauan kesehatan terhadap personel yang membutuhkan. Program ini merupakan komitmen Perseroan yang tercantum dalam Peraturan Perusahaan untuk senantiasa memeriksakan kesehatan para karyawannya dan meminimalisasi risiko kecelakaan kerja akibat faktor kesehatan.

8. Standarisasi Manajemen K3 Anak PerusahaanPerseroan menyelaraskan standar K3 Perseroan dengan Anak Perusahaan guna meningkatkan implementasi standar K3 konsolidasi. Upaya ini diimplementasikan dengan melaksanakan audit baik secara prosedur maupun implementasinya di area operasi. Pelaksanaan audit ini dilakukan secara rutin setiap tahunnya.

9. Audit Sistem Manajemen TerintegrasiPerseroan mengadopsi Integrated Management System (IMS), yang terdiri dari ISO 9001:2018 dan ISO 14001:2015 serta OHSAS 18001:2007 dalam melakukan standarisasi manajemen terintegrasi. Tujuan audit ini adalah untuk meningkatkan kepatuhan dan penaatan standar K3.

10. Stop Work AuthorityProgram ini merupakan pemberian kewenangan kepada karyawan, mitra kerja, pelanggan, maupun tamu untuk melakukan pemberhentian aktivitas kerja apabila menemukan kondisi atau tindakan tidak aman dalam suatu pekerjaan yang sedang berlangsung. Bentuk implementasinya adalah dengan menyediakan kartu penghentian kerja (SWA Card) untuk setiap individu yang berkunjung ke lingkungan kerja Perseroan.

Dampak Kuantitatif atas Pelaksanaan Tanggung Jawab Sosial Bidang Ketenagakerjaan Kesehatan dan Keselamatan KerjaDampak dari pelaksanaan kegiatan tanggung jawab sosial terkait dengan ketenagakerjaan, kesehatan dan keselamatan kerja (K3) terlihat dari susana yang kondusif dilingkungan Perseroan, di mana hingga akhir tahun 2019, tidak terdapat demo yang dilakukan karyawan, baik di kantor pusat maupun di area operasi. Hal ini membuktikan bahwa kegiatan tanggung jawab sosial terkait ketenagakerjaan, kesehatan dan keselamatan kerja yang dilakukan Perseroan terhadap seluruh karyawan yang terlibat dalam kegiatan usaha Perusahaan, baik karyawan tetap maupun karyawan honorer, telah berjalan dengan baik dan sesuai peraturan yang berlaku.

Secara ketenagakerjaan, seiring dengan berbagai program ketenagakerjaan yang diimplementasikan Perseroan, kepuasan karyawan mencapai 93,5%. Persentase kepuasan karyawan ini diperoleh berdasarkan survei yang dilaksanakan oleh lembaga eksternal dengan total responden sebanyak 551 karyawan. Aspek kepuasan tertinggi karyawan ada pada keberagaman & inklusi, reputasi dan keseimbangan kehidupan kerja.

7. Regular and Periodical Health Examinations.The Company is committed to implementing routine medical check-ups to minimize the risk of work accidents due to health factors. The program is also monitored directly by the follow-up by Elnusa Clinic and health monitoring of personnel in need. This program is the Company's commitment stated in the Company Regulations to always check the health of its employees and minimize the risk of work accidents due to health factors.

8. Standardization of OHS Management of SubsidiariesThe Company aligns the Company's OHS standards with its Subsidiaries to improve the implementation of the consolidated OHS standards. This effort is implemented by carrying out audits both procedures and their implementation in the area of operations. This audit is carried out routinely every year.

9. Integrated Management System AuditThe Company adopted the Integrated Management System (IMS), which consists of ISO 9001: 2018 and ISO 14001: 2015 and OHSAS 18001: 2007 in standardizing integrated management. This audit aims to improve compliance and compliance with OHS standards.

10. Stop Work AuthorityThis program is giving authority to employees, work partners, customers, and guests to stop work activities if they find unsafe conditions or actions in an ongoing work. The form of implementation is to provide a work stoppage card (SWA Card) for each individual who visits the Company's work environment.

Quantitative Impact of the Implementation of Social Responsibility towards Employment Occupational Health and SafetyThe impact of the implementation of social responsibility activities towards employment, health and safety (HSE) can be seen from the work environment that is conducive. Until the end of 2019, there were no demonstrations conducted by employees, both at the head office and in the operational areas. This proves that the social responsibility activities related to employment, health and work safety that are carried out by the Company for all employees in the Company's business activities, both permanent employees and honorary employees, have been done well and in accordance with the prevailing regulations.

In terms of employment, along with various employment programs implemented by the Company, employee satisfaction reaches 93.5%. This percentage of employee satisfaction was obtained based on a survey conducted by an external agency with a total of 551 employees. The highest aspects of employee satisfaction are on diversity & inclusion, reputation and work life balance.


Sementara, melalui berbagai upaya yang telah dilakukan Perseroan untuk mencapai kinerja HSE ekselen, pada 2019 ini tercapai lebih dari 40 juta jam kerja. Secara keseluruhan, kinerja HSE tahun 2019 bila dibandingkan dengan pencapaian setahun terakhir menunjukkan tren penurunan. Hal ini di karenakan sedikit pergeseran sifat proyek, dari yang sebelumnya lebih banyak menggunakan tenaga kerja, beralih ke proyek yang banyak menggunakan peralatan. Detail informasi dapat dilihat pada tabel di bawah ini.

IndikatorIndicator 2019 2018 2017

Fatality - 1 -Lost Time Injury - 2 1Restricted Work Case 2 - 1Medical Treatment Case 6 1 3First Aid Case 7 7 28Environmental Damage - - 1Property Damage 10 2 8Near Miss 128 - 21Man-hours 40.566.658 43.228.982 35.855.207Lost Time Injury Frequency Rate (LTIFR) - 0,04 0,14Total Recordable Injury Frequency Rate (TRIFR) 0,19 0,09 0,03

* data konsolidasi dengan anak perusahaan / consolidated data with subsidiaries

Pencapain Kinerja HSE Ekselen 2019Excellent achievement of HSE performance

IndikatorIndicator

2019Hasil Kinerja

Performance Results Target

Fatality - -Lost Time Injury Frequency Rate (LTIFR) - 0.02Total Recordable Injury Frequency Rate (TRIFR) 0.19 0.09Environmental Damage (Oil Spill) - -

Berdasarkan catatan kinerja di atas, dapat disimpulkan bahwa pada tahun 2019 Perseroan berhasil mencapai kinerja HSE ekselen. Tidak ada kematian kerja (fatality) maupun hilangnya hari kerja yang disebabkan kecelakaan (lost time injury). Secara rata-rata, nilai LTIFR mencapai angka maksimal, sedangkan TRIFR masih memerlukan perbaikan. Semakin kecil nilai LTIFR dan TRIFR menunjukkan semakin baik kinerja Perseroan pada aspek HSE. Namun demikian, capaian kinerja HSE tahun ini lebih baik dibandingkan tahun sebelumnya. Catatan tahun ini akan menjadi perbaikan pada tahun selanjutnya.

Mekanisme Pengaduan Masalah Ketenagakerjaan dan K3

Perseroan selalu berupaya untuk memenuhi peraturan perundangan yang berlaku, salah satunya adalah Undang-Undang No. 13 Tahun 2003 tentang Ketenagakerjaan, maka Perseroan menyusun suatu mekanisme pengaduan masalah ketenagakerjaan, kesehatan dan keselamatan kerja. Perseroan setiap saat siap untuk melakukan tindakan pengendalian terhadap kegiatan-kegiatan, produk barang dan jasa yang dapat menimbulkan risiko kecelakaan dan penyakit akibat kerja. Perseroan pun terus berupaya untuk mencegah terjadinya kejadian yang tidak diinginkan terhadap kenyamanan, keselamatan, kesehatan, ketertiban, keamanan, kualitas lingkungan dan produktivitas kerja akibat aktivitas kerja dari penggunaan alat, mesin, dan bahan berbahaya dalam kegiatan operasional Perseroan.

Meanwhile, through various efforts, the Company has managed to achieve excellent performance in HSE. In 2019, the Company has managed to reach 40 million in total working hours. In total, the HSE performance in 2019 as compared to the performance in the past two years show a trend of increase. This is because a slight shift in the nature of the project, from which previously used more labor, turned to projects that use a lot of equipment. Detailed information can be seen in the table below.

Based on the performance records above, it can be concluded that in 2019 the Company succeeded in achieving its outstanding HSE performance. There is no fatality or loss of workdays due to accidents (lost time injury). On average, the LTIFR value reaches a maximum, while TRIFR still needs improvement. The smaller the value of LTIFR and TRIFR shows the better performance of the Company in the HSE aspect. However, the achievement of HSE performance this year is better than the previous year. Note this year will be an improvement in the following year.

Mechanisms fo Reporting of Problems Related to Employment and HSEThe Company continuously strives to comply with prevailing laws and regulations, one of which is Law No. 13 of 2003 regarding employment. As such, the Company developed a mechanism for reporting of complaints related to employment, health and safety issues. The Company is ready at all times to take control of activities, products and services that can pose a risk of accidents and occupational illness. The Company also continuously strive to prevent the occurrence of unwanted events that may impact comfort, safety, health, order, security, environmental quality and work productivity which comes from the use of tools, machinery and hazardous materials in the Company's operational activities.



Keluhan mengenai praktik ketenagakerjaan dapat disampaikan kepada Serikat Pekerja. Secara musyawarah, Serikat Pekerja dapat menjembatani penyampaian keluhan tersebut dan memberikan advokasi kepada pekerja. Keluhan mengenai praktik K3 dapat disampaikan melalui berbagai saluran keselamatan, seperti hazard observation card, stop work authority dan lainnya.

Sertifikasi dan Penghargaan di Bidang Ketenagakerjaan, Kesehatan dan Keselamatan KerjaPerseroan memiliki dua sertifikasi eksternal terkait ketenagakerjaan, kesehatan dan keselamatan kerja yang berlaku hingga 2021. Kedua sertifikasi merupakan bagian dari sistem manajemen terintegrasi yang dimiliki. Detail dari sertifikasi sebagaimana tersaji pada tabel di bawah.

Sementara itu atas upaya yang telah dilakukan sepanjang 2019, Perseroan meraih tujuh penghargaan dari berbagai pihak. Dua di antaranya adalah penghargaan atas pengelolaan baik sumur-sumur di Blok Mahakam selama 9 kali serta pengakuan dari SOCO Exploration (Vietnam) Ltd atas kerja survei seismik yang dilakukan. Detail dari penghargaan yang diperoleh Perseroan tersaji pada tabel di bawah.

Sertifikasi Bidang Ketenagakerjaan, Kesehatan dan Keselamatan Kerja yang Masih Berlaku di Tahun 2019Certifications of the Employment, Health and Safety That Are Still Valid in 2019

Tanggal Dikeluarkannya SertifikasiDate of Issuance

Jenis SertifikatTypes of Certifications


Masa Berlaku HinggaValidity


August 21, 202119 Juli 2018July 19, 2018 OHSAS 18001 : 2007 SGS Indonesia 12 Maret 2021

March 12, 2021

Penghargaan di Bidang Ketenagakerjaan, Kesehatan dan Keselamatan Kerja Tahun 2019Awards on the Employment, Health and Safety in 2019

TanggalDate

Nama PenghargaanName of Award

Institusi yang MemberikanAwarding institutions


Excellent Safety Performance 332,322 Man-Hours (Onshore Construction Services) Operating Without Recordable Incidents for Contracts CS-16945600 Conoco Philips


Penghargaan kategori “very good”dalam penerapan sistem manajemen HSE kontraktor tahun 2018 untuk kegiatan survei seismic"Very good" award in the 2018 HSE contractor management system for seismic survey activities

Pertamina EP

21 Februari 2019February 21, 2019 Zero accident award Nusantara Regas

28 Februari 2019February 28, 2019 HSE Communication Forum 2019 (The most improved camp accommodation) Pertamina Hulu Mahakam

22 Maret 2019March 22, 2019

Zero accident pada project perforasi & pipe recovery area Jawa & KTI periode 1 Januari 2015 – 7 Maret 2019Zero accident in the perforation project & pipe recovery area of Java & KTI for the period of January 1, 2015 - March 7, 2019

Pertamina EP

1 Juni 2019Juny 1, 2019

Completion SOCO Exploration (Vietnam) Ltd, Marine 2D Seismic, Gravity & Magnetic Data Acquisition of 7000 line Km program, April to May 2019 by MV Elsa Regent, Conducted by a professional crew within the timed schedule without LTI & excellent data quality

SOCO Exploration (Vietnam) Ltd


Penyelesaian pekerjaan jasa pengelolaan well based mud & oil based mud dengan performa baik, sukses dan tidak ada accident fatalityWork completion of well based mud & oil based mud management services with good performance, success and no accident fatality

Pertamina EP

Complaints regarding labor practices can be submitted to the Trade Union. In deliberations, Trade Unions can bridge the submission of complaints and provide advocacy to workers. Complaints about OHS practices can be conveyed through various safety channels, such as hazard observation cards, stop work authorities and others.

Certifications and Awards in the Employment, Health and Safety

The Company has two external certifications related to employment, health and safety that are valid until 2021. Both certifications are part of its integrated management system. Details of the certification are presented in the table below.

Meanwhile for the efforts made throughout 2019, the Company won seven awards from various parties. Two of them are awards for the good management of the wells in the Mahakam Block for 9 times as well as recognition from SOCO Exploration (Vietnam) Ltd for the work of the seismic survey conducted. Details of the awards obtained by the Company are presented in the table below.


TANGGUNG JAWAB SOSIAL PERUSAHAAN BIDANG PENGEMBANGAN SOSIAL DAN KEMASYARAKATAN

Corporate Social Responsibility towards Social and Community Development

Komitmen dan KebijakanPerseroan berkomitmen untuk melaksanakan program pengembangan sosial dan kemasyarakatan atau community involvement & development (CID) dalam rangka memberikan manfaat bagi masyarakat sekitar. Komitmen ini didasari bahwa CID merupakan investasi sosial dan salah satu upaya peningkatan kapasitas masyarakat di sekitar wilayah kerja. Upaya ini kami lakukan sebagai corporate citizenship yang tentunya selaras dengan kinerja ekonomi.

Pergeseran aktivitas industri migas dari hilir ke hulu migas mempengaruhi kinerja ekonomi Perseroan. Namun demikian ditengah pergeseran kondisi yang ada, Perseroan tetap berkomitmen bahwa CID merupakan investasi sosial dan bagian terpadu dalam proses bisnis. Komitmen pelaksanaan CID Perseroan tertuang pada kebijakan Corsec-K.1.3 (Rev.01) yang mengacu pada ISO 26000: Social Responsibility dalam pelaksanaannya dan merupakan bentuk kepatuhan Perseroan terhadap Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas.

Dalam melaksanakan komitmen CID, kebijakan yang dilaksanakan Perseroan adalah sebagai berikut:1. Kegiatan CID harus berlandaskan nilai-nilai dan standar

etika Perseroan yang berlaku dengan berprinsip pada akuntabilitas, transparansi, berperilaku etis, menghormati kepentingan para stakeholders, mematuhi hukum yang berlaku, menghormati norma yang berlaku, serta menghormati hak asasi manusia.

2. Strategi CID harus selaras dengan strategi korporasi baik jangka pendek maupun panjang

3. CID merupakan bagian dari investasi sosial serta strategi bisnis untuk menjamin keberlanjutan pertumbuhan usaha.

Isu dan Risiko Sosial yang Dihadapi PerusahaanSecara sifat bisnis, Perseroan memiliki tiga segmen yang karakteristik isu sosialnya berbeda-beda. Lokasi kerja jasa hulu migas umumnya berada di hutan, laut maupun pemukiman rendah penduduk. Jasa distribusi dan logistik energi pada segmen hilir berada pada area pemukiman ramai penduduk. Sementara jasa penunjang berlokasi di area fabrikasi. Untuk durasi proyek, jasa hulu migas dan penunjang berkisar 6-15 bulan, sedangkan jasa distribusi dan logistik energi memiliki durasi kontrak yang lebih panjang. Selain wilayah operasi, Perseroan juga mengembangkan kegiatan pelibatan dan pengembangan masyarakat di kantor pusat. Secara karakteristik, area kantor pusat berdampingan dengan pemukiman padat penduduk serta perkantoran lain.

Berdasarkan karakteristik ini, isu dan risiko sosial pelibatan dan pengembangan masyarakat yang dihadapi Perseroan sangat bervariatif. Secara umum dapat dipetakan sebagai berikut:

Commitment and PolicyThe Company is committed to implementing social and community development programs or community involvement & development (CID) in order to provide benefits to the surrounding community. This commitment is based on CID as a social investment and an effort to increase the capacity of the community around the work area. We have made this effort as a corporate citizenship which is certainly in harmony with economic performance.

The shift of oil and gas industry activities from downstream to upstream oil and gas affects the Company's economic performance. However, amidst the shifting conditions, the Company remains committed that CID is a social investment and an integrated part of the business process. The commitment to implement the Company's CID is stated in Corsec-K.1.3 (Rev.01) policy which refers to ISO 26000: Social Responsibility in its implementation and is a form of the Company's compliance with Law Number 40 Year 2007 concerning Limited Liability Companies.

In implementing the CID commitments, the policies implemented by the Company are as follows:1. CID activities are based on the Company’s values and

ethical standards, which are based on the principles of good corporate governance, namely, transparency, accountability, responsibility, independence, and fairness;

2. The CID strategy must be aligned with short term and long term corporate strategy.

3. CID is part of social investment and business strategies to ensure the sustainability of business growth.

Social Issues and Risks Faced by the CompanyIn terms of business nature, the Company has three segments with different social issue characteristics. The upstream oil and gas service work locations are generally located in forests, sea and low population settlements. Energy distribution and logistics services in the downstream segment are in crowded residential areas. While supporting services are located in the fabrication area. For the duration of the project, upstream oil and gas and supporting services range from 6-15 months, while energy distribution and logistics services have a longer contract duration. In addition to the operational area, the Company also develops community engagement and development activities at the head office. Characteristically, the head office area is adjacent to densely populated settlements and other offices.

Based on these characteristics, social engagement and community development issues and risks faced by the Company are very varied. Generally, it can be mapped as follows:



1. Wilayah operasi. Isu yang sering muncul adalah permintaan masyarakat sekitar untuk dapat dilibatkan dalam kegiatan operasional, permohonan dukungan berbagai kegiatan kemasyarakatan, keluhan umum pelaksanaan kegiatan operasional dan sebagainya.

2. Wilayah kantor pusat. Isu yang sering mundul adalah kepedulian sosial perusahaan.

Sementara risiko yang dapat terjadi antara lain ketidaksepahaman antara Perseroan dengan masyarakat. Umumnya di karenakan antara rencana Perseroan dan keinginan masyarakat tidak sejalan.

Lingkup dan Perumusan Tanggung Jawab Sosial Perusahaan terhadap Pengembangan Sosial dan KemasyarakatanLingkup dan perumusan tanggung sosial perusahaan terhadap pengembangan sosial kemasyarakatan meliputi pelibatan masyarakat lokal sebagai tenaga kerja operasi, serta program peningkatan kualitas hidup masyarakat, seperti pemberdayaan masyarakat, perbaikan sarana dan prasarana sosial, peningkatan pendidikan dan kesehatan serta kepedulian sosial lainnya.

Mekanisme perumusan program didasarkan atas risiko negatif kegiatan operasional Perseroan dan dampak yang mungkin muncul terhadap kondisi sosial masyarakat. Berdasarkan risiko-risiko yang mungkin muncul ini, Perseroan berupaya meminimalisasi dampaknya melalui berbagai tanggung jawab sosial. Selain itu, program juga dirumuskan berdasarkan kondisi sosial masyarakat serta rencana pengembangan komunitas Perseroan.

Strategi Perseroan dalam tanggung jawab pengembangan sosial dan kemasyarakatan adalah :1. Melibatkan masyarakat maupun stakeholders terkait lain

di area kerja sebagai bagian dalam kegiatan operasional;2. Berpartisipasi aktif dalam kepedulian sosial dengan

menerapkan pemberdayaan komunitas atau community involvement & development melalui aspek three fundamentals for a better life;

3. Berorientasi terhadap Sustainable Development Goals dan delapan kategori Asnaf.

Rencana dan Target Kegiatan di Sepanjang Tahun 2019Perseroan memiliki target bahwa dalam setiap pelaksanaan kegiatan operasi yang dilaksanakan, tidak adanya dampak negatif, pelanggaran maupun pengaduan yang terjadi baik di kantor pusat, cabang, warehouse maupun di area operasi. Tidak ada sanksi moneter maupun non-moneter yang diberikan atas ketidakpatuhan terhadap hukum serta peraturan yang berlaku.

Selain itu, Perseroan menargetkan bahwa jumlah benefisiaris yang dilibatkan dan diberdayakan meningkat setiap tahunnya. Peningkatan benefisiaris ini merupakan salah satu indikator yang menjadi acuan kinerja pelibatan dan pemberdayaan masyarakat yang dilakukan Perseroan.

1. Operating area. The issue that often arises is the request of the surrounding community to be involved in operational activities, requests for support of various community activities, general complaints regarding the implementation of operational activities and so on.

2. Head office area. The issue that often arises is corporate social awareness.

Meanwhile, the risks that can occur include disagreement between the Company and the community. Those occur due to the Company's plans and people's desires are not in line.

Scope and Formulation of Corporate Social Responsibility towards Social and Community DevelopmentThe scope and formulation of corporate social responsibility towards social development include programs to improve the quality of life of the community, such as the distribution of aid, community empowerment, improvement of social facilities and infrastructure, improvement of education and health and other forms of donation/empowerment.

The formulation mechanism of the program is based on the negative risks of the Company's operational activities and the impact that may arise on the social conditions of the community. Based on the risks that may arise, the Company seeks to minimize its impact through various social responsibilities. In addition, the program was also formulated based on the social conditions of the community and the Company's community development plans.

The Company's strategies for social and community development responsibility are:1. Involving the community and other relevant stakeholders

in the work area as part of operational activities;2. Participating actively in social care by implementing

community empowerment or community involvement & development through aspects of three fundamentals for a better life;

3. Oriented towards Sustainable Development Goals and eight categories of Asnaf.

Planned Activities and Target in 2019The Company has a target to eliminate negative impact resulted from operational activities, such as violation and complaint that occur either at the head office, branches, warehouses or in the area of operations. No monetary or non-monetary sanctions are imposed for non-compliance with applicable laws and regulations.

In addition, the Company targets that the number of beneficiaries involved and empowered increases every year. The increase in beneficiaries is one indicators that becomes the reference for the performance of community involvement and empowerment conducted by the Company.


Program dan Kegiatan yang Dilakukan dan Dampaknya1. Pemberdayaan Tenaga Kerja Lokal dalam Aktivitas Operasi

Pelibatan masyarakat sebagai tenaga kerja lokal bertujuan untuk mendukung kesejahteraan hidup masyarakat di sekitar daerah operasi. Pelibatan diawali dengan pelatihan teknis hingga pelaksanaan pekerjaan dengan tetap memperhatikan aspek QHSSE. Upaya ini merupakan bisnis inklusif yang dilakukan Perseroan di berbagai area operasional. Posisi yang dipekerjakan antara lain: asisten humas, tim pengeboran, tim topografi, signal man, wakar personel, waterline crew dan lain-lain untuk berbagai proyek Perseroan.

2. Pengembangan Komunitas BerkelanjutanDalam pengembangan komunitas berkelanjutan, Perseroan terus melanjutkan berbagai aktivitas pengembangan dengan mengacu pada tiga tujuan, yaitu peningkatan kualitas pendidikan, pengembangan ekonomi lokal, serta peningkatan kualitas layanan kesehatan. Aktivitas pada berbagai bidang adalah sebagai berikut:a. Bidang Pendidikan dan Sosial

• Beasiswa Tepadu (BEST)Secara Konsisten, Perseroan memberikan Beasiswa Terpadu melalui aktivitas yang dilengkapi dengan pendampingan prestasi pada bidang akademik, pembangunan karakter kepemimpinan serta pembimbing spiritual kepada siswa/siswi yang berasal dari keluarga berpenghasilan rendah sebagai bentuk kepedulian terhadap dunia pendidikan.

• Taman Belajar Elnusa (TBE)Kegiatan TBE merupakan pendidikan tanpa dipungut biaya yang difasilitasi oleh Perseroan dengan menerapkan sistem pembelajaran berdasarkan gabungan dari beberapa kurikulum terakreditasi secara nasional. Kegiatan ini terdiri dari PAUD (Pendidikan Anak Usia Dini) dalam bentuk TKIT (Taman Kanak- kanak Islam Terpadu), TK Umum Baitul Hikmah Patra, dan TPA (Taman Pendidikan Al-Quran).

• Beasiswa Operasi dan BerprestasiProgram ini merupakan salah satu apresiasi yang diberikan kepada putra/putri berprestasi dari karyawan maupun mitra kerja dalam lingkup Perseroan. Program bersifat rutin.

• Ramadhan di ElnusaKegiatan Ramadhan di Elnusa merupakan salah satu kegiatan preferensi karyawan muslim Perseroan yang diadakan selama sebulan penuh pada bulan suci Ramadhan. Melalui program ini Perseroan berupaya memperbaiki perilaku maupun kinerja karyawan berdasarkan nilai-nilai agama islam. Kegiatan tersebut tentunya bukan hanya terbatas pada edukasi keislaman dalam bentuk pengajian

Implemented Programs and Activities and Their Impacts1. Empowerment of local workers in operational activities

The involvement of the community as a local workforce is carried out with the aim of supporting the welfare of communities in the surrounding areas of operations of the Company. This involvement begins with technical training and goes all the way to carrying out work, while taking aspects of QHSSE into account. This effort is a manifestation of inclusive business that is carried out by the Company in various operational areas. Employment positions for community members include public relations assistant, drilling team, topography team, signal man, wakar personnel, waterline crew, and others

2. Development of Sustainable CommunitiesIn its sustainable community development efforts, the Company continues to develop various activities base on three objectives. These objectives are improving education quality, local economy development, and improving the quality of healthcare services. The Company’s activities for meeting these objectives are as follows:a. Education and Social Aspects

• Integrated Scholarships (BEST) The Company has consistently delivered its Integrated Scholarships through activities that include performance assistance efforts in academics, leadership development and spiritual guidance for students from low-income families as its way of showing its concern for the world of education.

• Elnusa Learning Park (TBE) TBE activities are forms of education provided free of charge. The education delivered is based on a combination of several nationally-accredited curricula. The list of activities consists of Early Childhood Education (PAUD) in the form of Integrated Islamic Kindergartens (TKIT), Patra General Kindergartens, and Al-Quran Education Parks (TPA).

• Operational and Achievement ScholarshipsThis program is one of the appreciations given to the talented children of employees and working partners within the scope of the Company. Programs are routine.

• Ramadhan at Elnusa The Ramadhan activities in Elnusa is an activity that is preferred by the Muslim employees. This activity is held for a full month during the holy month of Ramadhan. Through these activities, the Company strives to improve employee behavior and performance, based on Islamic values. These activities are not only limited to Islamic education in the form of recitation and assemblies, but also



maupun majelis ilmu, namun juga dengan kegiatan lain seperti buka puasa bersama masyarakat di sekitar Graha Elnusa, Sholat tarawih berjamaah dan bahkan berdiam diri (I’tikaf) di Masjid Baitul Hikmah pada sepuluh malam terakhir.

• Pengembangan Sekolah MandiriPerseroan dan Grup selalu berupaya untuk mendukung dan mengutamakan dunia pendidikan melalui pengembangan sekolah mandiri di berbagai daerah. Bentuk dari dukungan yang dilakukan adalah pengembangan dengan peningkatan kualitas maupun kuantitas dari sarana dan prasarana yang ada.

b. Bidang Ekonomi• Tabungan Hikmah Mandiri (THM)

Kegiatan ini merupakan salah satu bentuk pemberdayaan ekonomi masyarakat dengan mengadopsi prinsip lembaga keuangan mikro syariah Baitul Maal Wat Tamwil (BMT) untuk meningkatkan kemampuan para pelaku usaha mikro dan kecil di lingkungan sekitar kantor pusat. Program ini diwujudkan dengan memberikan pinjaman modal usaha disertai dengan pendampingan serta pembinaan guna menjadikan para pelaku usaha yang mandiri.

• Aksi Tebar Hewan KurbanProgram ini merupakan program rutin tahunan Perseroan yang digelar setiap hari raya islam Idul Adha. Perseroan dan Grup melakukan aksi tebar hewan kurban di berbagai area kerja di seluruh Indonesia.

• Elnusa Berbagi KasihProgram dari kegiatan ini merupakan aktivitas kepedulian sosial Perseroan dan Grup yang dilakukan dengan membagikan paket bantuan kepada masyarakat kurang mampu di berbagai area kerja Perseroan. Momen berbagi ini biasanya dilakukan menjelang Idul Fitri, HUT Perseroan maupun Grup, maupun momen lainnya. Penerima manfaat kegiatan ini adalah keluarga dalam kriteria delapan Asnaf.

c. Bidang Kesehatan• Forum Posyandu

Perseroan mendukung peningkatan layanan Posyandu dengan memfasilitasi forum pertemuan untuk 14 Posyandu di sekitar kantor pusat. Kegiatan ini merupakan dukungan Perseroan terhadap SDG Nomor 3: Kesehatan yang baik dan kesejahteraan.

include other activities such as breaking the fast with people around Graha Elnusa, “tarawih” prayers in congregation and observing silence (I’tikaf) at Baitul Hikmah Mosque during the last ten nights of the month.

• Development of Independent Schools The Company and the Group always strive to support and prioritize the world of education through the development of independent schools in various regions. The support is carried out in a form of development and improvement of the quality and quantity of educational facilities and infrastructure.

b. Economic Aspect• Hikmah Mandiri Savings (THM)

This activity is a form of community economic empowerment that adopts the Islamic microfinance principles of the Baitul Maal Wat Tamwil (BMT) institution as a way of improving the capabilities of micro and small business actors in areas surrounding the Company’s head office. This program is carried out by providing business capital loans as well as mentorship and guidance to help turn these business owners into self-sufficient businesses.

• Distribution of Sacrificial Animals This program is something that the Company does routinely every year during the Islamic holiday of Eid al-Adha. the Company and the Group distribute sacrificial animals in its various operational areas throughout the country.

• Elnusa Caring Concern This program consists of activities related to the distribution of aid packages to underprivileged people throughout the Company’s areas of operations. These sharing activities are usually done in the period leading up to Eid Al-Fitr, or to the Company’s and the Group’s anniversary, and during other moments as well. The beneficiaries of this activity are families that are categorized as being within the eight Asnaf criteria.

c. Healthcare Aspect• Posyandu Forum

The Company supports the improvement of Integrated Healthcare Centre (Posyandu) services by facilitating meeting forums for 14 of these Posyandu located around the Company’s head office. This activity represents the Company’s support for theSDG's No. 3, which is about healthy and prosperous living. Good health and well-being.


• Pos SehatSelain adanya fasilitas layanan posyandu, Perseroan dan Grup juga memfasilitasi layanan kesehatan kepada masyarakat di wilayah sekitar Graha Elnusa dengan Pos Sehat. Adapun aktivitas dari Pos Sehat ini berbeda dengan Posyandu. Aktivitas di Pos Sehat ini berupa pemeriksaan, pengobatan, serta penyuluhan kesehatan lainnya.

• Donor DarahKegiatan rutin tiga bulanan ini merupakan wujud preferensi dan kepedulian karyawan, penyewa Gedung Graha Elnusa dan masyarakat umum di sekitar Graha Elnusa untuk turut serta berdonor darah dan membantu sesama.

3. Tanggap Darurat atas Bencana AlamPerseroan memiliki Emergency Response Team yang bersiap-siaga pada berbagai keadaan darurat. Atas bencana alam yang terjadi di Indonesia, Perseroan langsung mengaktifkan tim ini untuk melakukan berbagai tanggung jawab maupun kepedulian sosial baik pascabencana, maupun saat pemulihan. Lebih dari 13 ribu keluarga mendapatkan bantuan dari kegiatan Perseroan ini.

Biaya Tanggung Jawab Sosial Bidang Pengembangan Sosial dan KemasyarakatanJumlah penyaluran program tanggung jawab sosial bidang pengembangan sosial dan kemasyarakatan dapat dilihat pada tabel di bawah ini.

TahunYear 2019 2018 2017

Nilai Investasi (Rp Miliar)Investment Value (Rp Billion) 40,8 16,4 10,3

Penghargaan Bidang Pengembangan Sosial dan KemasyarakatanPada tahun ini, Perseroan hanya mendapatkan apresiasi resmi dari Palang Merah Indonesia atas konsistensinya menyelenggarakan penggalangan donor darah rutin di Kantor Pusat.

• Health Posts In addition to its Posyandu service facilities, the Company and the Group has also facilitated health services for the community in the area around Graha Elnusa through its Health Posts. The activities of these Health Post are different from those of the Posyandu. They include examinations, treatment, and various forms of health counseling.

• Blood Donations This activity is done routinely every quarter and serves as a manifestation of the preferences and concerns of employees, of Graha Elnusa building tenants, and of the general public surrounding Graha Elnusa. all of these people want to participate in donating their blood and helping others.

3. Emergency Response to Natural DisastersThe Company has an Emergency Response Team prepared for various emergencies. The Company uses this team for natural disasters that occur in Indonesia. The team carries out various forms of social responsibility and social care both after the disasters have taken place and during the recovery process for communities afflicted by these disasters. More than 13 thousand families received assistance from the Company's activities.

The Cost of Social Responsibility towards Social and Community DevelopmentThe total cost of conducting the social responsibility programs related to social and community development can be seen in the table below.

Awards in the Field of Social and Community DevelopmentThis year, the Company only received official appreciation from the Indonesian Red Cross for its consistency in holding a routine blood drive at the Head Office.



TANGGUNG JAWAB TERHADAP KONSUMENCorporate Social Responsibility in the Scope of Responsibility to Customers

Komitmen dan KebijakanSebagai perusahaan jasa energi, Perseroan memiliki segmen bisnis yang luas. Kompetensi ini meliputi segmen jasa hulu migas, jasa distribusi dan logistik energi, serta jasa penunjang. Sesuai sifat bisnis perusahaan jasa, jenis servis maupun lokasi kerja berganti-ganti sepanjang waktu menyesuaikan dengan wilayah kerja konsumen atau pelanggan. Durasi waktu pekerjaan pun menyesuaikan dengan permintaan jasa yang diharapkan oleh pelanggan. Perseroan selalu diharapakan untuk memberikan jasa yang memberikan solusi atas permasalahan pelanggan dengan lebih cepat, lebih baik, lebih kompetitif, lebih terkini serta lebih aman. Untuk menjawab tantangan ini, tentunya Perseroan harus dapat memberikan peningkatan kualitas jasa.

Kesungguhan untuk memberikan layanan terbaik kepada pelanggan melalui peningkatan kualitas jasa ini merupakan semangat Perseroan. Hal ini didasari bahwa pelanggan adalah pemangku kepentingan yang mempunyai peran strategis dalam menjamin keberlangsungan usaha. Kesuksesan pelanggan merupakan kesuksesan Perseroan. Realisasi komitmen ini dilaksanakan Perseroan dengan menerapkan kebijakan-kebijakan sebagai berikut:1. Mengadopsi standarisasi yang berlaku secara internasional

dan memperbaharuinya secara rutin & berkala2. Memastikan inovasi berkelanjutan pada setiap fungsi

Perseroan3. Mengimplementasikan sosialiasi, monitor dan evaluasi

terhadap mutu dari fungsi Perseroan

Sebagai turunan dari kebijakan pengelolaan kualitas jasa, Perseroan terus melakukan berbagai upaya baik perbaikan pada lini servis yang telah ada, maupun penambahan value preposition baru dengan digitalisasi.

Lingkup dan Perumusan Tanggung Jawab Sosial Perusahaan terhadap KonsumenPerseroan memiliki tiga segmen bisnis jasa energi yaitu 1) Jasa hulu migas, 2) Jasa distribusi dan logistik energi, dan 3) Jasa penunjang. Detail informasi mengenai segmen bisnis ini dapat dibaca pada subbab bidang usaha, bab Profil Perusahaan. Komunikasi pemasaran atas jasa melalui berbagai aktivitas maupun media pemasaran secara business to business kepada pelanggan.

Peran Perseroan dalam memberikan jasa dilakukan dengan menyediakan sumber daya profesional, peralatan maupun material yang diperlukan untuk memberikan solusi atas permasalahan pelanggan. Proses penunjukkan Perseroan sebagai kontraktor jasa dilakukan sesuai dengan prosedur yang berlaku di Indonesia. Tidak ada insiden ketidakpatuhan terhadap peraturan dalam hal ini.

Commitment and PolicyAs an energy services company, the Company has a broad business segment. This competency covers the upstream oil and gas services segment, energy distribution and logistics services, and supporting services. Depending on the nature of the service company's business, the type of service or work location changes all the time according to the work area of the consumer or customer. The duration of work time also adjusts to the demand for services expected by the customer. The Company is always expected to provide services that provide solutions to customer problems faster, better, more competitive, more up to date and safer. To answer this challenge, of course, the Company must be able to provide quality improvement services.

Eagerness to provide the best service to customers through improving the quality of this service is the spirit of the Company which is based on the fact that customers are stakeholders who have a strategic role in ensuring business continuity. Customer success is the success of the Company. The realization of this commitment is carried out by the Company by implementing the following policies:

1. Adopting standards that apply internationally and renewing these standards regularly and periodically

2. Encouraging continuous innovations in every function of the Company

3. Implementing socialization, monitoring and evaluation of the quality of the Company’s functions

As a derivative of a service quality management policy, The Company continues to make various efforts to improve existing service lines, as well as adding value prepositions new with digitalization.

Scope and Formulation of Corporate Social Responsibility towards ConsumersThe Company has three business segments of energy services. They are 1) Upstream oil and gas services, 2) Energy logistics distribution and services, and 3) supporting services. Detailed information about these business segments can be found in the Field of Business sub-section of the Company Profile section. Marketing communication for services offered is done through various activities and through business-to-business media marketing to customers.

The role of the Company in providing services is done by means of providing professional resources, equipment and materials needed to provide solutions to customer problems. The Company’s appointment process as a service contractor is carried out in accordance with tender procedures applicable in Indonesia. There have been no incidents of non-compliance with regulations on this matter.


Dalam memberikan layanan jasa kepada para pelanggan, Perseroan selalu memastikan bahwa pelanggan tidak hanya mendapatkan layanan jasa operasi terbaik. Namun, bersungguh-sungguh mengupayakan praktik kesehatan dan keselamatan kerja pelanggan, praktik operasi yang bertanggung jawab terhadap lingkungan, serta praktik ketenagakerjaan yang adil. Upaya untuk merumuskan praktik-praktik ini ada dalam berbagai ketentuan yang ada pada Perseroan.

Rencana dan Target KegiatanPerseroan merencanakan berbagai program untuk meningkatkan kepuasan pelanggan. Target yang hendak dicapai antara lain tidak adanya keluhan pelanggan yang menimbulkan adanya sanksi ataupun denda atas penyediaan jasa yang dilakukan. Selain itu sebagai upaya peningkatan penyediaan jasa, Perseroan menargetkan tersusunnya 110 risalah inovasi pada tahun ini.

Program dan Kegiatan yang Dilakukan1. Project Quality Plan (PQP)

Perseroan membuat PQP sebelum memulai suatu pekerjaan. Perencanaan ini meliputi aspek sumber daya manusia, QHSSE, teknologi, target pelanggan dan lain-lain. Melalui PQP, Perseroan berupaya memitigasi risiko yang mungkin terjadi, sehingga dapat mencegah hal-hal yang berdampak negatif dalam pelaksanaan pekerjaan yang dapat berakibat ketidakpuasan pelanggan terhadap jasa yang diberikan. Tahun 2019, Perseroan telah menyusun 6 Project Quality Plan.

2. Continuous Improvement Program (CIP)Perseroan menetapkan CIP sebagai Key Performance Indicator (KPI) 2019 untuk semua divisi dan anak perusahaan. Pada tahun ini terkumpul 147 dari target 110 risalah CIP dari berbagai fungsi. Program CIP ini dikompetisikan dalam berbagai ajang baik internal Perseroan, Grup Pertamina maupun Internasional. Estimasi value creation yang dihasilkan dari inovasi mencapai Rp249,6 miliar.

Perseroan menerapkan audit terpadu secara internal dan eksternal atas implementasi ISO 9001:2015, ISO 14001:2015, OHSAS 18001:2007 dan ISO 55001:2014. Total obyek audit internal adalah 11 fungsi shared services dan 11 area operasi. Sedangkan obyek audit eksternal adalah 10 fungsi di kantor pusat dan 3 di area operasi. Berdasarkan hasil audit internal terdapat 142 temuan yang kemudian telah ditindaklanjuti dengan capaian 100% closed, dan untuk hasil audit eksternal menyatakan bahwa tidak ada ketidaksesuaian yang bersifat mayor. Perseroan tercatat baik dalam menerapkan sistem manajemen QHSSE terintegrasi di atas.

3. Survei Kepuasan PelangganTingkat kepuasan pelanggan terhadap kinerja Elnusa tahun 2019 ini menurun bila dibandingkan tahun sebelumnya. Tercatat untuk indeks kepuasan pelanggan (menggunakan skala 5) adalah 4,03 dari sebelumnya 4,55 pada tahun 2018. Menurunnya hasil CSI di karenakan per tahun 2019, Perseroan menerapkan standar penilaian yang berbeda. Kriteria penilaian yang diimplementasikan tahun ini lebih merepresentasikan penilaian pelanggan.

In providing services to customers, the Company always ensures that customers receive more than the best operating services. Also, the Company eagerly exerts all efforts for occupational health and safety practices of customers, environmentally responsible operating practices, and fair employment practices. The Company’s efforts to formulate these practices are contained in various provisions.

Plan and Target ActivitiesThe Company plans various programs to increase customer satisfaction. Targets to be achieved include the absence of customer complaints that lead to sanctions or fines for the provision of services performed. In addition, as an effort to increase service provision, the Company is targeting to compile 110 innovation treatises this year.

Implemented Programs and Activities 1. Project Quality Plan

The Company makes PQP before starting a job. This plan covers aspects that include human resources, QHSSE, technology, target customers and others. Through PQP, the Company tries to mitigate risks that might occur. Doing so allows the Company to prevent things that have a negative impact to occur during implementation of work, which can result in customer dissatisfaction with the services being provided. In 2019, the Company has developed 6 Project Quality Plans

2. Continuous Improvement Programs (CIP)The Company uses CIP as a Key Performance Indicator in 2019 for all its divisions and subsidiaries. This year 147 of targeted 110 innovation programs obtained from various functions. These CIP programs are competed in various events, whether internally, Pertamina Group, or internationally. The estimated value creation resulting from these innovations reached Rp249.6 billion.

The Company implements integrated internal and external audits. These audits are done as a way to implement ISO 9001: 2018, ISO 14001: 2015 and OHSAS 18001: 2007. The total number of objects for internal audits is comprised of 11 shared service functions and 11 areas of operations. Meanwhile, the total number of objects for external audit is 10 functions at the head office and 3 in operating areas. Based on the results of internal audits, there were 142 findings which were then followed up with 100% achievement rates, while the results of external audits found that there was no major discrepancy. The Company has implemented its aforementioned integrated QHSSE management system well.

3. Customer Satisfaction Survey Customer satisfaction level towards Elnusa’s performance in 2019 has decreased as compared to the previous year. The customer satisfaction index (on a 5-point scale) was recorded at 4.03 from 4.55 in 2018. The decrease in the CSI result is due to the fact that in 2019, the Company applies different assessment standards. The assessment criteria implemented this year more likely represent customer ratings.



4. Quality Management AssessmentKegiatan ini merupakan salah satu bentuk penilaian terhadap kinerja perusahaan dalam lingkup Pertamina Group yang dilakukan setiap dua tahun sekali. Perseroan dinilai berdasarkan KKEP untuk empat fokus kriteria, yaitu kepemimpinan & keberlanjutan bisnis, operasional ekselen, fokus tenaga kerja dan fokus pelanggan, yang akan menghasilkan peluang perbaikan (OFI) pada tahun 2017 dengan score 546 dengan 18 OFI yang telah ditindaklanjuti sebagai aksi perbaikan (AFI) dan closed 100%. Pada tahun 2019 Perseroan tidak melakukan evaluasi, di karenakan agar siklus dua tahunan bersamaan dengan APH Pertamina, sehingga Penyusunan DKE KKEP dilakukan pada tahun 2020.

5. Knowledge ManagementKegiatan ini bertujuan untuk berbagi pengetahuan terkait dengan operasional dan nonoperasional untuk meningkatkan knowledge karyawan. Sharing dilakukan dengan menyelenggarakan pertemuan yang difasilitasi oleh EPS setiap pekan sekali di setiap hari Jumat. Materi dari sharing session di-upload di dms.elnusa.co.id. Selama tahun 2019 tercatat dilakukan 41 kali sharing offline melalui kegiatan sharing session EPS dan 2 kali sharing online melalui Webinar Pertamina.

Pencapaian Kegiatan Tanggung Jawab Sosial Perusahaan Lingkup Tanggung Jawab terhadap KonsumenBentuk pencapaian kegiatan tanggung jawab sosial perusahaan lingkup tanggung jawab terhadap konsumen dapat dilihat dari pencapaian kinerja mutu disepanjang tahun 2019 sebagaimana terlampir di bawah ini.

IndikatorIndicator

PencapaianAchievements

Risalah CIPCIP Summaries

147 risalah147 documents

Value creation Rp249,6 miliar | billionScore Quality Management Assesment (QMA) 546

TemuanFindings

QMA: 18 OFIAudit internal: 142 CARAudit eksternal QHSE: 4 minor dan 10 observasiAudit eksternal Asset: 1 minor dan 7 observasi

QMA: 18 OFIInternal Audit: 142 CARExternal Audit QHSE: 4 minor and 10 observationsExternal Audit on Asset: 1 minor and 7 observations

Pengaduan Terkait Layanan serta Produk Perusahaan dan PenanganannyaAgar dapat memberikan pelayanan terbaik kepada konsumen, Perseroan berupaya untuk memperoleh umpan balik dan masukan, baik dari konsumen maupun dari para pemangku kepentingan. Perseroan juga telah memiliki mekanisme dalam menangani pengaduan konsumen baik secara langsung maupun pengaduan melalui media, mulai dari lini depan hingga unit yang bertanggungjawab. Bagi Manajemen, pengaduan ini dapat digunakan untuk memperbaiki kinerja Perseroan di masa datang. Konsumen dan stakeholders dapat melakukan pengaduan lewat berbagai media yang sudah disediakan, yaitu contact center dan situs web Perseroan.

4. Quality Management Assessment This activity is a type of assessment on the performance of the Company within the Pertamina Group which is done once every two years. The basis of the evaluation is the Company’s four Opportunities for Improvement (OFI) focuses: leadership & business sustainability, excellent operations, employees focus, and customer focus. The results can be seen in the opportunity for improvement in 2017 with a score of 546 and 18 OFI that has been followed up as a corrective action (AFI) and 100% completed. In 2019, the Company does not conduct evaluation because the 2 years cycle of the Company is together with the APH Pertamina, so the Assessment will be done in 2020.

5. Knowledge Management This activity is conducted to share knowledge on operational and non-operational activities which will increase the knowledge of employees. The sharing of knowledge is done through meetings that are facilitated by EPS every week on Friday. The materials for the sharing session are uploaded in dms.elnusa.co.id. Throughout 2019, there were 41 offline sharing sessions in EPS and 2 online sharing session based on Webinar of Pertamina.

Achievement of the Corporate Social Responsibility Activities towards ConsumersThe form of achievement of the corporate social responsibility activities towards responsibility to consumers can be seen from the achievement in the quality performance throughout 2019 as shown below:

Complaint on the Services and Products of the Company and Its Handling ProcessIn order to provide the best service to the consumers, the Company tries to obtain feedback and inputs, both from consumers and from stakeholders. The Company also has a mechanism to deal with consumer complaints both directly, as well as for complaints via other media, starting from the front lines to the respective units. For the Management, these complaints can be used to further improve the Company's performance in the future. Consumers and stakeholders can make complaints through the provided channels, namely the Call Center and on the Company's website.


Data di bawah ini merupakan data jumlah keluhan dari pelanggan yang didapatkan dari hasil kegiatan survei kepuasan pelanggan di proyek Elnusa.

Jumlah dan Penanganan Keluhan Layanan serta Produk PerseroanTotal Amount and Handling of Service and Product Complaint

2019(keluhan)

(Complains)

2018(keluhan)

(Complains)

Kenaikan (%)

IncreaseJumlah KeluhanNumber of Complains 9 8 12,5

Sertifikasi dan Penghargaan Tanggung Jawab Perusahaan terhadap Konsumen atau PelangganBerikut ini adalah sertifikat dan penghargaan yang berhasil Elnusa pertahankan dan dapatkan selama tahun 2019.

Sertifikasi yang Masih Berlaku di Tahun 2019Valid Certifications in 2019

Tanggal Dikeluarkannya SertifikasiDate of issuance

Jenis SertifikatTypes of certificates


Masa Berlaku HinggaValidity


August 12, 202122 Agustus 2018August 22, 2018 ISO 14001 : 2015 SGS Indonesia 21 Agustus 2021

August 21, 202119 Juli 2018July 19, 2018 OHSAS 18001 : 2007 SGS Indonesia 12 Maret 2021

March 12, 202109 Januari 2018January 9, 2018 ISO 55001 : 2014 SGS Indonesia 08 Januari 2021

January 8, 2021

Penghargaan di Tahun 2019Awards in 2019

TanggalDate

Nama PenghargaanName of Awards

Institusi yang MemberikanInstitution Presenting the Award

20 Maret 2019March 20, 2019 APQ Awards Kategori Gold CIP I Prove ISVES PT Pertamina Persero

20 Maret 2019March 20, 2019 APQ Awards Kategori Gold CIP PC Prove ECMA PT Pertamina Persero

20 Maret 2019March 20, 2019 APQ Awards Kategori Gold CIP PC Prove Gorong-gorong PT Pertamina Persero

20 Maret 2019March 20, 2019 APQ Awards Kategori Gold CIP PC Prove LOSSMEN PT Pertamina Persero

20 Maret 2019March 20, 2019 APQ Awards Kategori Gold CIP PC Prove MELISSA PT Pertamina Persero

The data below is the total number of complaints from consumers that are gathered based on the consumer satisfaction survey on Elnusa’s projects

Certifications and Awards for Corporate Responsibility to ConsumersBelow is the certifications and awards that are managed to be maintained and obtained by Elnusa throughout 2019.

07LampiranAppendix


REFERENSI SILANGPOJK 29/POJK.04/2016 DANSEOJK 30/SEOJK.04/2016Table of Contens

KETERANGANDESCRIPTION

HALAMANPAGE

I. Bentuk Laporan Tahunan

Laporan Tahunan wajib disajikan dalam Bahasa Indonesia dan bahasa asing. Laporan Tahunan yang menggunakan bahasa asing wajib memuat informasi yang sama dengan informasi dalam Laporan Tahunan yang menggunakan Bahasa Indonesia.Laporan Tahunan wajib disajikan dalam Bahasa Indonesia dan bahasa asing. Laporan Tahunan yang menggunakan bahasa asing wajib memuat informasi yang sama dengan informasi dalam Laporan Tahunan yang menggunakan Bahasa Indonesia.Laporan Tahunan disajikan dalam bentuk dokumen cetak dan salinan dokumen elektronik. Laporan Tahunan disajikan dalam bentuk dokumen cetak dan salinan dokumen elektronik.Laporan Tahunan yang disajikan dalam bentuk dokumen cetak, dicetak pada kertas yang berwarna terang, berkualitas baik, berukuran A4, dijilid, dan dapat diperbanyak dengan kualitas yang baik.Laporan Tahunan yang disajikan dalam bentuk dokumen cetak, dicetak pada kertas yang berwarna terang, berkualitas baik, berukuran A4, dijilid, dan dapat diperbanyak dengan kualitas yang baik.Laporan Tahunan yang disajikan dalam bentuk salinan dokumen elektronik merupakan Laporan Tahunan yang dikonversi dalam format pdf.Laporan Tahunan yang disajikan dalam bentuk salinan dokumen elektronik merupakan Laporan Tahunan yang dikonversi dalam format pdf.



HALAMANPAGE

II. Isi Laporan Tahunan

1. Ketentuan Umum

Ketentuan Umum

a. Laporan Tahunan paling sedikit memuat informasi mengenai:

Laporan Tahunan paling sedikit memuat informasi mengenai:

I. ikhtisar data keuangan penting;II. informasi saham (jika ada);III. laporan Direksi;IV. laporan Dewan Komisaris;V. profil Emiten atau Perusahaan Publik;VI. analisis dan pembahasan manajemen;VII. tata kelola Emiten atau Perusahaan Publik;VIII. tanggung jawab sosial dan lingkungan Emiten atau

Perusahaan Publik;IX. laporan keuangan tahunan yang telah diaudit; danX. surat pernyataan anggota Direksi dan anggota Dewan

Komisaris tentang tanggung jawab atas Laporan Tahunan;

I. ikhtisar data keuangan penting;II. informasi saham (jika ada);III. laporan Direksi;IV. laporan Dewan Komisaris;V. profil Emiten atau Perusahaan Publik;VI. analisis dan pembahasan manajemen;VII. tata kelola Emiten atau Perusahaan Publik;VIII. tanggung jawab sosial dan lingkungan Emiten

atau Perusahaan Publik;IX. laporan keuangan tahunan yang telah diaudit; danX. surat pernyataan anggota Direksi dan anggota Dewan

Komisaris tentang tanggung jawab atas Laporan Tahunan;

b. Laporan Tahunan dapat menyajikan informasi berupa gambar, grafik, tabel, dan/atau diagram dengan mencantumkan judul dan/atau keterangan yang jelas, sehingga mudah dibaca dan dipahami;Laporan Tahunan dapat menyajikan informasi berupa gambar, grafik, tabel, dan/atau diagram dengan mencantumkan judul dan/atau keterangan yang jelas, sehingga mudah dibaca dan dipahami;



HALAMANPAGE

2. Uraian Isi Laporan Tahunan

Uraian Isi Laporan Tahunan

a. Ikhtisar Data Keuangan PentingIkhtisar Data Keuangan Penting memuat informasi keuangan yang disajikan dalam bentuk perbandingan selama 3 (tiga) tahun buku atau sejak memulai usahanya jika Emiten atau Perusahaan Publik tersebut menjalankan kegiatan usahanya kurang dari 3 (tiga) tahun, paling sedikit memuat:

Ikhtisar Data Keuangan PentingIkhtisar Data Keuangan Penting memuat informasi keuangan yang disajikan dalam bentuk perbandingan selama 3 (tiga) tahun buku atau sejak memulai usahanya jika Emiten atau Perusahaan Publik tersebut menjalankan kegiatan usahanya kurang dari 3 (tiga) tahun, paling sedikit memuat:

I. pendapatan/penjualan;II. laba bruto;III. laba (rugi);IV. jumlah laba (rugi) yang dapat diatribusikan kepada

pemilik entitas induk dan kepentingan non pengendali;V. total laba (rugi) komprehensif;VI. jumlah laba (rugi) komprehensif yang dapat

diatribusikan kepada pemilik entitas induk dan kepentingan non pengendali;

VII. laba (rugi) per saham;VIII. jumlah aset;IX. jumlah liabilitas;X. jumlah ekuitas;XI. rasio laba (rugi) terhadap jumlah aset;XII. rasio laba (rugi) terhadap ekuitas;XIII. rasio laba (rugi) terhadap pendapatan/penjualan;XIV. rasio lancar;XV. rasio liabilitas terhadap ekuitas;XVI. rasio liabilitas terhadap jumlah aset; danXVII. informasi dan rasio keuangan lainnya yang relevan

dengan Emiten atau Perusahaan Publik dan jenis industrinya;

I. pendapatan/penjualan;II. laba bruto;III. laba (rugi);IV. jumlah laba (rugi) yang dapat diatribusikan kepada

pemilik entitas induk dan kepentingan non pengendali;V. total laba (rugi) komprehensif;VI. jumlah laba (rugi) komprehensif yang dapat

diatribusikan kepada pemilik entitas induk dan kepentingan non pengendali;

VII. laba (rugi) per saham;VIII. jumlah aset;IX. jumlah liabilitas;X. jumlah ekuitas;XI. rasio laba (rugi) terhadap jumlah aset;XII. rasio laba (rugi) terhadap ekuitas;XIII. rasio laba (rugi) terhadap pendapatan/penjualan;XIV. rasio lancar;XV. rasio liabilitas terhadap ekuitas;XVI. rasio liabilitas terhadap jumlah aset; danXVII. informasi dan rasio keuangan lainnya yang relevan

dengan Emiten atau Perusahaan Publik dan jenis industrinya;



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b. Informasi SahamInformasi saham (jika ada) paling sedikit memuat:

I. saham yang telah diterbitkan untuk setiap masa triwulan (jika ada) yang disajikan dalam bentuk perbandingan selama 2 (dua) tahun buku terakhir, paling sedikit meliputi:• jumlah saham yang beredar;• kapitalisasi pasar berdasarkan harga pada Bursa Efek

tempat saham dicatatkan;• harga saham tertinggi, terendah, dan penutupan

berdasarkan harga pada Bursa Efek tempat saham dicatatkan; dan

• volume perdagangan pada Bursa Efek tempat saham dicatatkan;

Informasi pada huruf a) diungkapkan oleh Emiten yang merupakan Perusahaan Terbuka yang sahamnya tercatat maupun tidak tercatat di Bursa Efek;Informasi pada huruf b), huruf c), dan huruf d) hanya diungkapkan jika Emiten merupakan Perusahaan Terbuka dan sahamnya tercatat di Bursa Efek;

II. dalam hal terjadi aksi korporasi, seperti pemecahan saham (stock split), penggabungan saham (reverse stock), dividen saham, saham bonus, dan perubahan nilai nominal saham, informasi saham sebagaimana dimaksud pada angka 1) ditambahkan penjelasan paling sedikit mengenai:• tanggal pelaksanaan aksi korporasi;• rasio pemecahan saham (stock split), penggabungan

saham (reverse stock), dividen saham, saham bonus, dan perubahan nilai nominal saham;

• jumlah saham beredar sebelum dan sesudah aksi korporasi; dan

• harga saham sebelum dan sesudah aksi korporasi;III. dalam hal terjadi penghentian sementara perdagangan

saham (suspension), dan/atau penghapusan pencatatan saham (delisting) dalam tahun buku, Emiten atau Perusahaan Publik menjelaskan alasan penghentian sementara perdagangan saham (suspension) dan/atau penghapusan pencatatan saham (delisting) tersebut; dan

IV. dalam hal penghentian sementara perdagangan saham (suspension) dan/atau penghapusan pencatatan saham (delisting) sebagaimana dimaksud pada angka 3) masih berlangsung hingga akhir periode Laporan Tahunan, Emiten atau Perusahaan Publik menjelaskan tindakan yang dilakukan untuk menyelesaikan penghentian sementara perdagangan saham (suspension) dan/atau penghapusan pencatatan saham (delisting) tersebut;



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b Informasi SahamInformasi saham (jika ada) paling sedikit memuat:

I. saham yang telah diterbitkan untuk setiap masa triwulan (jika ada) yang disajikan dalam bentuk perbandingan selama 2 (dua) tahun buku terakhir, paling sedikit meliputi:• jumlah saham yang beredar;• kapitalisasi pasar berdasarkan harga pada Bursa Efek

tempat saham dicatatkan;• harga saham tertinggi, terendah, dan penutupan

berdasarkan harga pada Bursa Efek tempat saham dicatatkan; dan

• volume perdagangan pada Bursa Efek tempat saham dicatatkan;

Informasi pada huruf a) diungkapkan oleh Emiten yang merupakan Perusahaan Terbuka yang sahamnya tercatat maupun tidak tercatat di Bursa Efek;Informasi pada huruf b), huruf c), dan huruf d) hanya diungkapkan jika Emiten merupakan Perusahaan Terbuka dan sahamnya tercatat di Bursa Efek;

II. dalam hal terjadi aksi korporasi, seperti pemecahan saham (stock split), penggabungan saham (reverse stock), dividen saham, saham bonus, dan perubahan nilai nominal saham, informasi saham sebagaimana dimaksud pada angka 1) ditambahkan penjelasan paling sedikit mengenai:• tanggal pelaksanaan aksi korporasi;• rasio pemecahan saham (stock split), penggabungan

saham (reverse stock), dividen saham, saham bonus, dan perubahan nilai nominal saham;

• jumlah saham beredar sebelum dan sesudah aksi korporasi; dan

• harga saham sebelum dan sesudah aksi korporasi;III. dalam hal terjadi penghentian sementara perdagangan

saham (suspension), dan/atau penghapusan pencatatan saham (delisting) dalam tahun buku, Emiten atau Perusahaan Publik menjelaskan alasan penghentian sementara perdagangan saham (suspension) dan/atau penghapusan pencatatan saham (delisting) tersebut; dan

IV. dalam hal penghentian sementara perdagangan saham (suspension) dan/atau penghapusan pencatatan saham (delisting) sebagaimana dimaksud pada angka 3) masih berlangsung hingga akhir periode Laporan Tahunan, Emiten atau Perusahaan Publik menjelaskan tindakan yang dilakukan untuk menyelesaikan penghentian sementara perdagangan saham (suspension) dan/atau penghapusan pencatatan saham (delisting) tersebut;

c. Laporan DireksiLaporan Direksi paling sedikit memuat:

I. uraian singkat mengenai kinerja Emiten atau Perusahaan Publik, paling sedikit meliputi:• strategi dan kebijakan strategis Emiten atau

Perusahaan Publik;• perbandingan antara hasil yang dicapai dengan yang

ditargetkan; dan• kendala yang dihadapi Emiten atau Perusahaan

Publik;II. gambaran tentang prospek usaha;III. penerapan tata kelola Emiten atau Perusahaan Publik;

danIV. perubahan komposisi anggota Direksi dan alasan

perubahannya (jika ada);



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c. Laporan DireksiLaporan Direksi paling sedikit memuat:

I. uraian singkat mengenai kinerja Emiten atau Perusahaan Publik, paling sedikit meliputi:• strategi dan kebijakan strategis Emiten atau

Perusahaan Publik;• perbandingan antara hasil yang dicapai dengan yang

ditargetkan; dan• kendala yang dihadapi Emiten atau Perusahaan

Publik;II. gambaran tentang prospek usaha;III. penerapan tata kelola Emiten atau Perusahaan Publik;

danIV. perubahan komposisi anggota Direksi dan alasan

perubahannya (jika ada);d. Laporan Dewan Komisaris

Laporan Dewan Komisaris paling sedikit memuat:

I. penilaian terhadap kinerja Direksi mengenai pengelolaan Emiten atau Perusahaan Publik;

II. pengawasan terhadap implementasi strategi Emiten atau Perusahaan Publik;

III. pandangan atas prospek usaha Emiten atau Perusahaan Publik yang disusun oleh Direksi;

IV. pandangan atas penerapan tata kelola Emiten atau Perusahaan Publik;

V. perubahan komposisi anggota Dewan Komisaris dan alasan perubahannya (jika ada); dan

VI. frekuensi dan cara pemberian nasihat kepada anggota Direksi;

d. Laporan Dewan KomisarisLaporan Dewan Komisaris paling sedikit memuat:

I. penilaian terhadap kinerja Direksi mengenai pengelolaan Emiten atau Perusahaan Publik;

II. pengawasan terhadap implementasi strategi Emiten atau Perusahaan Publik;

III. pandangan atas prospek usaha Emiten atau Perusahaan Publik yang disusun oleh Direksi;

IV. pandangan atas penerapan tata kelola Emiten atau Perusahaan Publik;

V. perubahan komposisi anggota Dewan Komisaris dan alasan perubahannya (jika ada); dan

VI. frekuensi dan cara pemberian nasihat kepada anggota Direksi;



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e. Profil Emiten atau Perusahaan PublikProfil Emiten atau Perusahaan Publik paling sedikit memuat:

e. Profil Emiten atau Perusahaan PublikProfil Emiten atau Perusahaan Publik paling sedikit memuat:

I. nama Emiten atau Perusahaan Publik termasuk apabila terdapat perubahan nama, alasan perubahan, dan tanggal efektif perubahan nama pada tahun buku;

II. akses terhadap Emiten atau Perusahaan Publik termasuk kantor cabang atau kantor perwakilan yang memungkinkan masyarakat dapat memperoleh informasi mengenai Emiten atau Perusahaan Publik, meliputi:• a) alamat;• b) nomor telepon;• c) nomor faksimile;• d) alamat surat elektronik; dan• e) alamat Situs Web;

I. nama Emiten atau Perusahaan Publik termasuk apabila terdapat perubahan nama, alasan perubahan, dan tanggal efektif perubahan nama pada tahun buku;

II. akses terhadap Emiten atau Perusahaan Publik termasuk kantor cabang atau kantor perwakilan yang memungkinkan masyarakat dapat memperoleh informasi mengenai Emiten atau Perusahaan Publik, meliputi:• a) alamat;• b) nomor telepon;• c) nomor faksimile;• d) alamat surat elektronik; dan• e) alamat Situs Web;

III. riwayat singkat Emiten atau Perusahaan Publik; riwayat singkat Emiten atau Perusahaan Publik;IV. visi dan misi Emiten atau Perusahaan Publik; riwayat singkat Emiten atau Perusahaan Publik;V. kegiatan usaha menurut anggaran dasar terakhir,

kegiatan usaha yang dijalankan pada tahun buku, serta jenis barang dan/atau jasa yang dihasilkan;

kegiatan usaha menurut anggaran dasar terakhir, kegiatan usaha yang dijalankan pada tahun buku, serta jenis barang dan/atau jasa yang dihasilkan;

VI. struktur organisasi Emiten atau Perusahaan Publik dalam bentuk bagan, paling sedikit sampai dengan struktur 1 (satu) tingkat di bawah Direksi, disertai dengan nama dan jabatan;

struktur organisasi Emiten atau Perusahaan Publik dalam bentuk bagan, paling sedikit sampai dengan struktur 1 (satu) tingkat di bawah Direksi, disertai dengan nama dan jabatan;



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VII. profil Direksi, paling sedikit memuat:• nama dan jabatan yang sesuai dengan tugas dan

tanggung jawab;• foto terbaru;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai anggota Direksi pada Emiten atau Perusahaan Publik yang bersangkutan;

» rangkap jabatan, baik sebagai anggota Direksi, anggota Dewan Komisaris, dan/atau anggota komite serta jabatan lainnya (jika ada); dan

» pengalaman kerja beserta periode waktunya baik di dalam maupun di luar Emiten atau Perusahaan Publik;

» pendidikan dan/atau pelatihan yang telah diikuti anggota Direksi dalam meningkatkan kompetensi dalam tahun buku (jika ada); dan

» hubungan Afiliasi dengan anggota Direksi lainnya, anggota Dewan Komisaris, dan pemegang saham utama (jika ada) meliputi nama pihak yang terafiliasi;

VII. profil Direksi, paling sedikit memuat:• nama dan jabatan yang sesuai dengan tugas dan

tanggung jawab;• foto terbaru;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai anggota Direksi pada Emiten atau Perusahaan Publik yang bersangkutan;

» rangkap jabatan, baik sebagai anggota Direksi, anggota Dewan Komisaris, dan/atau anggota komite serta jabatan lainnya (jika ada); dan


» pendidikan dan/atau pelatihan yang telah diikuti anggota Direksi dalam meningkatkan kompetensi dalam tahun buku (jika ada); dan

» hubungan Afiliasi dengan anggota Direksi lainnya, anggota Dewan Komisaris, dan pemegang saham utama (jika ada) meliputi nama pihak yang terafiliasi;



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VIII. profil Dewan Komisaris, paling sedikit memuat:• nama;• foto terbaru;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai anggota Dewan Komisaris yang bukan merupakan Komisaris Independen pada Emiten atau Perusahaan Publik yang bersangkutan;

» dasar hukum penunjukan pertama kali sebagai anggota Dewan Komisaris yang merupakan Komisaris Independen pada Emiten atau Perusahaan Publik yang bersangkutan;

» rangkap jabatan, baik sebagai anggota Dewan Komisaris, anggota Direksi, dan/atau anggota komite serta jabatan lainnya (jika ada); dan


» pendidikan dan/atau pelatihan yang telah diikuti anggota Dewan Komisaris dalam meningkatkan kompetensi dalam tahun buku (jika ada);

» hubungan Afiliasi dengan anggota Dewan Komisaris lainnya dan pemegang saham utama (jika ada) meliputi nama pihak yang terafiliasi; dan

» pernyataan independensi Komisaris Independen dalam hal Komisaris Independen telah menjabat lebih dari 2 (dua) periode (jika ada);

VIII. profil Dewan Komisaris, paling sedikit memuat:• nama;• foto terbaru;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai anggota Dewan Komisaris yang bukan merupakan Komisaris Independen pada Emiten atau Perusahaan Publik yang bersangkutan;

» dasar hukum penunjukan pertama kali sebagai anggota Dewan Komisaris yang merupakan Komisaris Independen pada Emiten atau Perusahaan Publik yang bersangkutan;



» pendidikan dan/atau pelatihan yang telah diikuti anggota Dewan Komisaris dalam meningkatkan kompetensi dalam tahun buku (jika ada);

» hubungan Afiliasi dengan anggota Dewan Komisaris lainnya dan pemegang saham utama (jika ada) meliputi nama pihak yang terafiliasi; dan

» pernyataan independensi Komisaris Independen dalam hal Komisaris Independen telah menjabat lebih dari 2 (dua) periode (jika ada);



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IX. dalam hal terdapat perubahan susunan anggota Direksi dan/atau anggota Dewan Komisaris yang terjadi setelah tahun buku berakhir sampai dengan batas waktu penyampaian Laporan Tahunan, susunan yang dicantumkan dalam Laporan Tahunan adalah susunan anggota Direksi dan/atau anggota Dewan Komisaris yang terakhir dan sebelumnya;

dalam hal terdapat perubahan susunan anggota Direksi dan/atau anggota Dewan Komisaris yang terjadi setelah tahun buku berakhir sampai dengan batas waktu penyampaian Laporan Tahunan, susunan yang dicantumkan dalam Laporan Tahunan adalah susunan anggota Direksi dan/atau anggota Dewan Komisaris yang terakhir dan sebelumnya;

X. jumlah karyawan dan deskripsi sebaran tingkat pendidikan dan usia karyawan dalam tahun buku;

jumlah karyawan dan deskripsi sebaran tingkat pendidikan dan usia karyawan dalam tahun buku;

XI. nama pemegang saham dan persentase kepemilikan pada akhir tahun buku, yang terdiri dari:• pemegang saham yang memiliki 5% (lima persen)

atau lebih saham Emiten atau Perusahaan Publik;• anggota Direksi dan anggota Dewan Komisaris yang

memiliki saham Emiten atau Perusahaan Publik; dan• kelompok pemegang saham masyarakat, yaitu

kelompok pemegang saham yang masing-masing memiliki kurang dari 5% (lima persen) saham Emiten atau Perusahaan Publik;

nama pemegang saham dan persentase kepemilikan pada akhir tahun buku, yang terdiri dari:• pemegang saham yang memiliki 5% (lima persen)

atau lebih saham Emiten atau Perusahaan Publik;• anggota Direksi dan anggota Dewan Komisaris yang

memiliki saham Emiten atau Perusahaan Publik; dan• kelompok pemegang saham masyarakat, yaitu

kelompok pemegang saham yang masing-masing memiliki kurang dari 5% (lima persen) saham Emiten atau Perusahaan Publik;

XII. jumlah pemegang saham dan persentase kepemilikan per akhir tahun buku berdasarkan klasifikasi:• kepemilikan institusi lokal;• kepemilikan institusi asing;• kepemilikan individu lokal; dan• kepemilikan individu asing;

jumlah pemegang saham dan persentase kepemilikan per akhir tahun buku berdasarkan klasifikasi:• kepemilikan institusi lokal;• kepemilikan institusi asing;• kepemilikan individu lokal; dan• kepemilikan individu asing;

XIII. informasi mengenai pemegang saham utama dan pengendali Emiten atau Perusahaan Publik, baik langsung maupun tidak langsung, sampai kepada pemilik individu, yang disajikan dalam bentuk skema atau bagan;

informasi mengenai pemegang saham utama dan pengendali Emiten atau Perusahaan Publik, baik langsung maupun tidak langsung, sampai kepada pemilik individu, yang disajikan dalam bentuk skema atau bagan;



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XIV. nama entitas anak, perusahaan asosiasi, perusahaan ventura bersama dimana Emiten atau Perusahaan Publik memiliki pengendalian bersama entitas, beserta persentase kepemilikan saham, bidang usaha, total aset, dan status operasi Emiten atau Perusahaan Publik tersebut (jika ada); Untuk entitas anak, ditambahkan informasi mengenai alamat entitas anak tersebut;

nama entitas anak, perusahaan asosiasi, perusahaan ventura bersama dimana Emiten atau Perusahaan Publik memiliki pengendalian bersama entitas, beserta persentase kepemilikan saham, bidang usaha, total aset, dan status operasi Emiten atau Perusahaan Publik tersebut (jika ada); Untuk entitas anak, ditambahkan informasi mengenai alamat entitas anak tersebut;

XV. kronologi pencatatan saham, jumlah saham, nilai nominal, dan harga penawaran dari awal pencatatan hingga akhir tahun buku serta nama Bursa Efek dimana saham Emiten atau Perusahaan Publik dicatatkan (jika ada);

kronologi pencatatan saham, jumlah saham, nilai nominal, dan harga penawaran dari awal pencatatan hingga akhir tahun buku serta nama Bursa Efek dimana saham Emiten atau Perusahaan Publik dicatatkan (jika ada);

XVI. kronologi pencatatan Efek lainnya selain Efek sebagaimana dimaksud pada angka 15), yang paling sedikit memuat nama Efek, tahun penerbitan, tanggal jatuh tempo, nilai penawaran, dan peringkat Efek (jika ada);

XVII. kronologi pencatatan Efek lainnya selain Efek sebagaimana dimaksud pada angka 15), yang paling sedikit memuat nama Efek, tahun penerbitan, tanggal jatuh tempo, nilai penawaran, dan peringkat Efek (jika ada);

XVIII. nama dan alamat lembaga dan/atau profesi penunjang pasar modal;

XIX. nama dan alamat lembaga dan/atau profesi penunjang pasar modal;

XX. dalam hal terdapat profesi penunjang pasar modal yang memberikan jasa secara berkala kepada Emiten atau Perusahaan Publik, diungkapkan informasi mengenai jasa yang diberikan, komisi (fee), dan periode penugasan; dan

XXI. dalam hal terdapat profesi penunjang pasar modal yang memberikan jasa secara berkala kepada Emiten atau Perusahaan Publik, diungkapkan informasi mengenai jasa yang diberikan, komisi (fee), dan periode penugasan; dan



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XXII. penghargaan dan/atau sertifikasi yang diterima Emiten atau Perusahaan Publik baik yang berskala nasional maupun internasional dalam tahun buku terakhir (jika ada), yang memuat:• nama penghargaan dan/atau sertifikasi;• badan atau lembaga yang memberikan; dan• masa berlaku penghargaan dan/atau sertifikasi (jika

ada);XXIII. penghargaan dan/atau sertifikasi yang diterima

Emiten atau Perusahaan Publik baik yang berskala nasional maupun internasional dalam tahun buku terakhir (jika ada), yang memuat:• nama penghargaan dan/atau sertifikasi;• badan atau lembaga yang memberikan; dan• masa berlaku penghargaan dan/atau sertifikasi (jika

ada);f. Analisis dan Pembahasan

ManajemenAnalisis dan pembahasan manajemen memuat analisis dan pembahasan mengenai laporan keuangan dan informasi penting lainnya dengan penekanan pada perubahan material yang terjadi dalam tahun buku, yaitu paling sedikit memuat:

f. Analisis dan Pembahasan ManajemenAnalisis dan pembahasan manajemen memuat analisis dan pembahasan mengenai laporan keuangan dan informasi penting lainnya dengan penekanan pada perubahan material yang terjadi dalam tahun buku, yaitu paling sedikit memuat:

I. tinjauan operasi per segmen operasi sesuai dengan jenis industri Emiten atau Perusahaan Publik, paling sedikit mengenai:• produksi, yang meliputi proses, kapasitas, dan

perkembangannya;• pendapatan/penjualan; dan• profitabilitas;

I. tinjauan operasi per segmen operasi sesuai dengan jenis industri Emiten atau Perusahaan Publik, paling sedikit mengenai:• produksi, yang meliputi proses, kapasitas, dan

perkembangannya;• pendapatan/penjualan; dan• profitabilitas;

II. kinerja keuangan komprehensif yang mencakup perbandingan kinerja keuangan dalam 2 (dua) tahun buku terakhir, penjelasan tentang penyebab adanya perubahan dan dampak perubahan tersebut, paling sedikit mengenai:• aset lancar, aset tidak lancar, dan total aset;• liabilitas jangka pendek, liabilitas jangka panjang, dan

total liabilitas;• ekuitas;• pendapatan/penjualan, beban, laba (rugi),

penghasilan komprehensif lain, dan total laba (rugi) komprehensif; dan

• arus kas;II. kinerja keuangan komprehensif yang mencakup

perbandingan kinerja keuangan dalam 2 (dua) tahun buku terakhir, penjelasan tentang penyebab adanya perubahan dan dampak perubahan tersebut, paling sedikit mengenai:• aset lancar, aset tidak lancar, dan total aset;• liabilitas jangka pendek, liabilitas jangka panjang, dan

total liabilitas;• ekuitas;• pendapatan/penjualan, beban, laba (rugi),

penghasilan komprehensif lain, dan total laba (rugi) komprehensif; dan

• arus kas;



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III. kemampuan membayar utang dengan menyajikan perhitungan rasio yang relevan;

kemampuan membayar utang dengan menyajikan perhitungan rasio yang relevan;

IV. tingkat kolektibilitas piutang Emiten atau Perusahaan Publik dengan menyajikan perhitungan rasio yang relevan;

tingkat kolektibilitas piutang Emiten atau Perusahaan Publik dengan menyajikan perhitungan rasio yang relevan;

V. struktur modal (capital structure) dan kebijakan manajemen atas struktur modal (capital structure) tersebut disertai dasar penentuan kebijakan dimaksud;

struktur modal (capital structure) dan kebijakan manajemen atas struktur modal (capital structure) tersebut disertai dasar penentuan kebijakan dimaksud;

VI. bahasan mengenai ikatan yang material untuk investasi barang modal dengan penjelasan paling sedikit meliputi:• tujuan dari ikatan tersebut;• sumber dana yang diharapkan untuk memenuhi

ikatan tersebut;• mata uang yang menjadi denominasi; dan• langkah yang direncanakan Emiten atau

Perusahaan Publik untuk melindungi risiko dari posisi mata uang asing yang terkait;

. bahasan mengenai ikatan yang material untuk investasi barang modal dengan penjelasan paling sedikit meliputi:• tujuan dari ikatan tersebut;• sumber dana yang diharapkan untuk memenuhi

ikatan tersebut;• mata uang yang menjadi denominasi; dan• langkah yang direncanakan Emiten atau

Perusahaan Publik untuk melindungi risiko dari posisi mata uang asing yang terkait;

VII. bahasan mengenai investasi barang modal yang direalisasikan dalam tahun buku terakhir, paling sedikit meliputi:• jenis investasi barang modal;• tujuan investasi barang modal; dan• nilai investasi barang modal yang dikeluarkan;

bahasan mengenai investasi barang modal yang direalisasikan dalam tahun buku terakhir, paling sedikit meliputi:• jenis investasi barang modal;• tujuan investasi barang modal; dan• nilai investasi barang modal yang dikeluarkan;

VIII. informasi dan fakta material yang terjadi setelah tanggal laporan akuntan (jika ada);

informasi dan fakta material yang terjadi setelah tanggal laporan akuntan (jika ada);



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IX. prospek usaha dari Emiten atau Perusahaan Publik dikaitkan dengan kondisi industri, ekonomi secara umum dan pasar internasional disertai data pendukung kuantitatif dari sumber data yang layak dipercaya;

prospek usaha dari Emiten atau Perusahaan Publik dikaitkan dengan kondisi industri, ekonomi secara umum dan pasar internasional disertai data pendukung kuantitatif dari sumber data yang layak dipercaya;

X. perbandingan antara target/proyeksi pada awal tahun buku dengan hasil yang dicapai (realisasi), mengenai:• pendapatan/penjualan;• laba (rugi);• struktur modal (capital structure); atau• hal lainnya yang dianggap penting bagi Emiten

atau Perusahaan Publik; perbandingan antara target/proyeksi pada awal

tahun buku dengan hasil yang dicapai (realisasi), mengenai:• pendapatan/penjualan;• laba (rugi);• struktur modal (capital structure); atau• hal lainnya yang dianggap penting bagi Emiten

atau Perusahaan Publik;XI. target/proyeksi yang ingin dicapai Emiten atau

Perusahaan Publik untuk 1 (satu) tahun mendatang, mengenai:• pendapatan/penjualan;• laba (rugi);• struktur modal (capital structure);• kebijakan dividen; atau• hal lainnya yang dianggap penting bagi Emiten

atau Perusahaan Publik; target/proyeksi yang ingin dicapai Emiten atau

Perusahaan Publik untuk 1 (satu) tahun mendatang, mengenai:• pendapatan/penjualan;• laba (rugi);• struktur modal (capital structure);• kebijakan dividen; atau• hal lainnya yang dianggap penting bagi Emiten

atau Perusahaan Publik;XII. aspek pemasaran atas barang dan/atau jasa Emiten

atau Perusahaan Publik, paling sedikit mengenai strategi pemasaran dan pangsa pasar;

aspek pemasaran atas barang dan/atau jasa Emiten atau Perusahaan Publik, paling sedikit mengenai strategi pemasaran dan pangsa pasar;



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XIII. uraian mengenai dividen selama 2 (dua) tahun buku terakhir (jika ada), paling sedikit:• kebijakan dividen;• tanggal pembayaran dividen kas dan/atau tanggal

distribusi dividen non kas;• jumlah dividen per saham (kas dan/atau non kas);

dan• jumlah dividen per tahun yang dibayar;

. uraian mengenai dividen selama 2 (dua) tahun buku terakhir (jika ada), paling sedikit:• kebijakan dividen;• tanggal pembayaran dividen kas dan/atau tanggal

distribusi dividen non kas;• jumlah dividen per saham (kas dan/atau non kas);

dan• jumlah dividen per tahun yang dibayar;

XIV. realisasi penggunaan dana hasil Penawaran Umum, dengan ketentuan:• dalam hal selama tahun buku, Emiten memiliki

kewajiban menyampaikan laporan realisasi penggunaan dana, maka diungkapkan realisasi penggunaan dana hasil Penawaran Umum secara kumulatif sampai dengan akhir tahun buku; dan

• dalam hal terdapat perubahan penggunaan dana sebagaimana diatur dalam Peraturan Otoritas Jasa Keuangan tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum, maka Emiten menjelaskan perubahan tersebut;

realisasi penggunaan dana hasil Penawaran Umum, dengan ketentuan:• dalam hal selama tahun buku, Emiten memiliki

kewajiban menyampaikan laporan realisasi penggunaan dana, maka diungkapkan realisasi penggunaan dana hasil Penawaran Umum secara kumulatif sampai dengan akhir tahun buku; dan

• dalam hal terdapat perubahan penggunaan dana sebagaimana diatur dalam Peraturan Otoritas Jasa Keuangan tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum, maka Emiten menjelaskan perubahan tersebut;

XV. informasi material (jika ada), antara lain mengenai investasi, ekspansi, divestasi, penggabungan/peleburan usaha, akuisisi, restrukturisasi utang/modal, transaksi Afiliasi, dan transaksi yang mengandung benturan kepentingan,yang terjadi pada tahun buku, antara lain memuat:• tanggal, nilai, dan objek transaksi;• nama pihak yang melakukan transaksi;• sifat hubungan Afiliasi (jika ada);• penjelasan mengenai kewajaran transaksi; dan• pemenuhan ketentuan terkait;

informasi material (jika ada), antara lain mengenai investasi, ekspansi, divestasi, penggabungan/peleburan usaha, akuisisi, restrukturisasi utang/modal, transaksi Afiliasi, dan transaksi yang mengandung benturan kepentingan,yang terjadi pada tahun buku, antara lain memuat:• tanggal, nilai, dan objek transaksi;• nama pihak yang melakukan transaksi;• sifat hubungan Afiliasi (jika ada);• penjelasan mengenai kewajaran transaksi; dan• pemenuhan ketentuan terkait;



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XVI. perubahan ketentuan peraturan perundang-undangan yang berpengaruh signifikan terhadap Emiten atau Perusahaan Publik dan dampaknya terhadap laporan keuangan (jika ada); dan

perubahan ketentuan peraturan perundang-undangan yang berpengaruh signifikan terhadap Emiten atau Perusahaan Publik dan dampaknya terhadap laporan keuangan (jika ada); dan

XVII. perubahan kebijakan akuntansi, alasan dan dampaknya terhadap laporan keuangan (jika ada);

perubahan kebijakan akuntansi, alasan dan dampaknya terhadap laporan keuangan (jika ada);

g. Tata Kelola Emiten atau Perusahaan PublikTata kelola Emiten atau Perusahaan Publik paling sedikit memuat uraian singkat mengenai:

I. Direksi, mencakup antara lain:• tugas dan tanggung jawab masing-masing anggota

Direksi;• pernyataan bahwa Direksi memiliki pedoman atau

piagam (charter) Direksi;• prosedur, dasar penetapan, struktur, dan besarnya

remunerasi masing-masing anggota Direksi, serta hubungan antara remunerasi dengan kinerja Emiten atau Perusahaan Publik;

• kebijakan dan pelaksanaan tentang frekuensi rapat Direksi, termasuk rapat bersama Dewan Komisaris, dan tingkat kehadiran anggota Direksi dalam rapat tersebut;

• informasi mengenai keputusan RUPS 1 (satu) tahun sebelumnya, meliputi: » keputusan RUPS yang direalisasikan pada tahun

buku; dan » alasan dalam hal terdapat keputusan yang

belum direalisasikan;• informasi mengenai keputusan RUPS pada tahun

buku, meliputi: » keputusan RUPS yang direalisasikan pada tahun


belum direalisasikan; dan• penilaian terhadap kinerja komite yang

mendukung pelaksanaan tugas Direksi;



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g. Tata Kelola Emiten atau Perusahaan PublikTata kelola Emiten atau Perusahaan Publik paling sedikit memuat uraian singkat mengenai:

I. Direksi, mencakup antara lain:• tugas dan tanggung jawab masing-masing anggota

Direksi;• pernyataan bahwa Direksi memiliki pedoman atau

piagam (charter) Direksi;• prosedur, dasar penetapan, struktur, dan besarnya

remunerasi masing-masing anggota Direksi, serta hubungan antara remunerasi dengan kinerja Emiten atau Perusahaan Publik;

• kebijakan dan pelaksanaan tentang frekuensi rapat Direksi, termasuk rapat bersama Dewan Komisaris, dan tingkat kehadiran anggota Direksi dalam rapat tersebut;

• informasi mengenai keputusan RUPS 1 (satu) tahun sebelumnya, meliputi: » keputusan RUPS yang direalisasikan pada tahun


belum direalisasikan;• informasi mengenai keputusan RUPS pada tahun

buku, meliputi: » keputusan RUPS yang direalisasikan pada tahun


belum direalisasikan; dan• penilaian terhadap kinerja komite yang

mendukung pelaksanaan tugas Direksi;



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II. Dewan Komisaris, mencakup antara lain:• tugas dan tanggung jawab Dewan Komisaris;• pernyataan bahwa Dewan Komisaris memiliki

pedoman atau piagam (charter) Dewan Komisaris;• prosedur, dasar penetapan, struktur, dan besarnya

remunerasi masing-masing anggota Dewan Komisaris;

• kebijakan dan pelaksanaan tentang frekuensi rapat Dewan Komisaris, termasuk rapat bersama Direksi, dan tingkat kehadiran anggota Dewan Komisaris dalam rapat tersebut;

• e) kebijakan Emiten atau Perusahaan Publik tentang penilaian terhadap kinerja anggota Direksi dan anggota Dewan Komisaris dan pelaksanaannya, paling sedikit meliputi: » prosedur pelaksanaan penilaian kinerja; » kriteria yang digunakan; dan » pihak yang melakukan penilaian;

• penilaian terhadap kinerja komite yang mendukung pelaksanaan tugas Dewan Komisaris; dan

• dalam hal Dewan Komisaris tidak membentuk Komite Nominasi dan Remunerasi, dimuat informasi paling sedikit mengenai: » alasan tidak dibentuknya komite; dan » prosedur nominasi dan remunerasi yang

dilakukan dalam tahun buku;

II. Dewan Komisaris, mencakup antara lain:• tugas dan tanggung jawab Dewan Komisaris;• pernyataan bahwa Dewan Komisaris memiliki

pedoman atau piagam (charter) Dewan Komisaris;• prosedur, dasar penetapan, struktur, dan besarnya

remunerasi masing-masing anggota Dewan Komisaris;

• kebijakan dan pelaksanaan tentang frekuensi rapat Dewan Komisaris, termasuk rapat bersama Direksi, dan tingkat kehadiran anggota Dewan Komisaris dalam rapat tersebut;

• e) kebijakan Emiten atau Perusahaan Publik tentang penilaian terhadap kinerja anggota Direksi dan anggota Dewan Komisaris dan pelaksanaannya, paling sedikit meliputi: » prosedur pelaksanaan penilaian kinerja; » kriteria yang digunakan; dan » pihak yang melakukan penilaian;

• penilaian terhadap kinerja komite yang mendukung pelaksanaan tugas Dewan Komisaris; dan

• dalam hal Dewan Komisaris tidak membentuk Komite Nominasi dan Remunerasi, dimuat informasi paling sedikit mengenai: » alasan tidak dibentuknya komite; dan » prosedur nominasi dan remunerasi yang

dilakukan dalam tahun buku;



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III. Dewan Pengawas Syariah, bagi Emiten atau Perusahaan Publik yang menjalankan kegiatan usaha berdasarkan prinsip syariah sebagaimana tertuang dalam anggaran dasar, paling sedikit memuat:• nama;• tugas dan tanggung jawab Dewan Pengawas

Syariah; dan• frekuensi dan cara pemberian nasihat dan saran

serta pengawasan pemenuhan Prinsip Syariah di Pasar Modal terhadap Emiten atau Perusahaan Publik;

III. Dewan Pengawas Syariah, bagi Emiten atau Perusahaan Publik yang menjalankan kegiatan usaha berdasarkan prinsip syariah sebagaimana tertuang dalam anggaran dasar, paling sedikit memuat:• nama;• tugas dan tanggung jawab Dewan Pengawas

Syariah; dan• frekuensi dan cara pemberian nasihat dan saran

serta pengawasan pemenuhan Prinsip Syariah di Pasar Modal terhadap Emiten atau Perusahaan Publik;

IV. Komite Audit, mencakup antara lain:• nama dan jabatannya dalam keanggotaan komite;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai anggota komite;



• periode dan masa jabatan anggota Komite Audit;• pernyataan independensi Komite Audit;• kebijakan dan pelaksanaan tentang frekuensi

rapat Komite Audit dan tingkat kehadiran anggota Komite Audit dalam rapat tersebut;

• pendidikan dan/atau pelatihan yang telah diikuti dalam tahun buku (jika ada); dan

• pelaksanaan kegiatan Komite Audit pada tahun buku sesuai dengan yang dicantumkan dalam pedoman atau piagam (charter) Komite Audit;



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IV. Komite Audit, mencakup antara lain:• nama dan jabatannya dalam keanggotaan komite;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:




• periode dan masa jabatan anggota Komite Audit;• pernyataan independensi Komite Audit;• kebijakan dan pelaksanaan tentang frekuensi

rapat Komite Audit dan tingkat kehadiran anggota Komite Audit dalam rapat tersebut;


• pelaksanaan kegiatan Komite Audit pada tahun buku sesuai dengan yang dicantumkan dalam pedoman atau piagam (charter) Komite Audit;

V. komite lain yang dimiliki Emiten atau Perusahaan Publik dalam rangka mendukung fungsi dan tugas Direksi dan/atau Dewan Komisaris, seperti Komite Nominasi dan Remunerasi, mencakup antara lain:• nama dan jabatannya dalam keanggotaan komite;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:




• periode dan masa jabatan anggota komite;• uraian tugas dan tanggung jawab;• pernyataan bahwa telah memiliki pedoman atau

piagam (charter) komite;• pernyataan independensi komite;• kebijakan dan pelaksanaan tentang frekuensi rapat

komite dan tingkat kehadiran anggota komite dalam rapat tersebut;


• uraian singkat pelaksanaan kegiatan komite pada tahun buku;



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V. komite lain yang dimiliki Emiten atau Perusahaan Publik dalam rangka mendukung fungsi dan tugas Direksi dan/atau Dewan Komisaris, seperti Komite Nominasi dan Remunerasi, mencakup antara lain:• nama dan jabatannya dalam keanggotaan komite;• usia;• kewarganegaraan;• riwayat pendidikan;• riwayat jabatan, meliputi informasi:




• periode dan masa jabatan anggota komite;• uraian tugas dan tanggung jawab;• pernyataan bahwa telah memiliki pedoman atau

piagam (charter) komite;• pernyataan independensi komite;• kebijakan dan pelaksanaan tentang frekuensi rapat

komite dan tingkat kehadiran anggota komite dalam rapat tersebut;


• uraian singkat pelaksanaan kegiatan komite pada tahun buku;

VI. Sekretaris Perusahaan, mencakup antara lain:• nama;• domisili;• iwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai Sekretaris Perusahaan; dan


• riwayat pendidikan;• pendidikan dan/atau pelatihan yang diikuti dalam

tahun buku; dan• uraian singkat pelaksanaan tugas Sekretaris

Perusahaan pada tahun buku;

VI. Sekretaris Perusahaan, mencakup antara lain:• nama;• domisili;• iwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai Sekretaris Perusahaan; dan


• riwayat pendidikan;• pendidikan dan/atau pelatihan yang diikuti dalam

tahun buku; dan• uraian singkat pelaksanaan tugas Sekretaris

Perusahaan pada tahun buku;



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VII. Unit Audit Internal, mencakup antara lain:• nama kepala Unit Audit Internal;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai kepala Unit Audit Internal; dan


• kualifikasi atau sertifikasi sebagai profesi audit internal (jika ada);

• pendidikan dan/atau pelatihan yang diikuti dalam tahun buku;

• struktur dan kedudukan Unit Audit Internal;• uraian tugas dan tanggung jawab;• pernyataan bahwa telah memiliki pedoman atau

piagam (charter) Unit Audit Internal; dan• uraian singkat pelaksanaan tugas Unit Audit

Internal pada tahun buku;

VII. Unit Audit Internal, mencakup antara lain:• nama kepala Unit Audit Internal;• riwayat jabatan, meliputi informasi:

» dasar hukum penunjukan sebagai kepala Unit Audit Internal; dan


• kualifikasi atau sertifikasi sebagai profesi audit internal (jika ada);

• pendidikan dan/atau pelatihan yang diikuti dalam tahun buku;

• struktur dan kedudukan Unit Audit Internal;• uraian tugas dan tanggung jawab;• pernyataan bahwa telah memiliki pedoman atau

piagam (charter) Unit Audit Internal; dan• uraian singkat pelaksanaan tugas Unit Audit

Internal pada tahun buku;VIII. uraian mengenai sistem pengendalian internal

(internal control) yang diterapkan oleh Emiten atau Perusahaan Publik, paling sedikit mengenai:• pengendalian keuangan dan operasional, serta

kepatuhan terhadap peraturan perundang-undangan lainnya; dan

• tinjauan atas efektivitas sistem pengendalian internal;

VIII. uraian mengenai sistem pengendalian internal (internal control) yang diterapkan oleh Emiten atau Perusahaan Publik, paling sedikit mengenai:• a) pengendalian keuangan dan operasional,

serta kepatuhan terhadap peraturan perundang-undangan lainnya; dan

• b) tinjauan atas efektivitas sistem pengendalian internal;



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IX. sistem manajemen risiko yang diterapkan oleh Emiten atau Perusahaan Publik, paling sedikit mengenai:• gambaran umum mengenai sistem manajemen

risiko Emiten atau Perusahaan Publik;• jenis risiko dan cara pengelolaannya; dan• tinjauan atas efektivitas sistem manajemen risiko

Emiten atau Perusahaan Publik;IX. sistem manajemen risiko yang diterapkan oleh

Emiten atau Perusahaan Publik, paling sedikit mengenai:• gambaran umum mengenai sistem manajemen

risiko Emiten atau Perusahaan Publik;• jenis risiko dan cara pengelolaannya; dan• tinjauan atas efektivitas sistem manajemen risiko

Emiten atau Perusahaan Publik;X. perkara penting yang dihadapi oleh Emiten atau

Perusahaan Publik, entitas anak, anggota Direksi dan anggota Dewan Komisaris (jika ada), antara lain meliputi:• pokok perkara/gugatan;• status penyelesaian perkara/gugatan; dan• pengaruhnya terhadap kondisi Emiten atau

Perusahaan Publik;X. perkara penting yang dihadapi oleh Emiten atau

Perusahaan Publik, entitas anak, anggota Direksi dan anggota Dewan Komisaris (jika ada), antara lain meliputi:• pokok perkara/gugatan;• status penyelesaian perkara/gugatan; dan• pengaruhnya terhadap kondisi Emiten atau

Perusahaan Publik;XI. informasi tentang sanksi administratif yang dikenakan

kepada Emiten atau Perusahaan Publik, anggota Dewan Komisaris dan Direksi, oleh otoritas Pasar Modal dan otoritas lainnya pada tahun buku (jika ada);

XI. informasi tentang sanksi administratif yang dikenakan kepada Emiten atau Perusahaan Publik, anggota Dewan Komisaris dan Direksi, oleh otoritas Pasar Modal dan otoritas lainnya pada tahun buku (jika ada);

XII. informasi mengenai kode etik Emiten atau Perusahaan Publik meliputi:• pokok-pokok kode etik;• bentuk sosialisasi kode etik dan upaya

penegakannya; dan• pernyataan bahwa kode etik berlaku bagi anggota

Direksi, anggota Dewan Komisaris, dan karyawan Emiten atau Perusahaan Publik;

XII. informasi mengenai kode etik Emiten atau Perusahaan Publik meliputi:• pokok-pokok kode etik;• bentuk sosialisasi kode etik dan upaya

penegakannya; dan• pernyataan bahwa kode etik berlaku bagi anggota

Direksi, anggota Dewan Komisaris, dan karyawan Emiten atau Perusahaan Publik;

XIII. informasi mengenai budaya perusahaan (corporate culture) atau nilai-nilai perusahaan (jika ada);

XIII. informasi mengenai budaya perusahaan (corporate culture) atau nilai-nilai perusahaan (jika ada);



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XIV. uraian mengenai program kepemilikan saham oleh karyawan dan/atau manajemen yang dilaksanakan Emiten atau Perusahaan Publik (jika ada), antara lain mengenai:• jumlah saham dan/atau opsi;• jangka waktu pelaksanaan;• persyaratan karyawan dan/atau manajemen yang

berhak; dan• harga pelaksanaan;

XIV. uraian mengenai program kepemilikan saham oleh karyawan dan/atau manajemen yang dilaksanakan Emiten atau Perusahaan Publik (jika ada), antara lain mengenai:• jumlah saham dan/atau opsi;• jangka waktu pelaksanaan;• persyaratan karyawan dan/atau manajemen yang

berhak; dan• harga pelaksanaan;

XV. uraian mengenai sistem pelaporan pelanggaran (whistleblowing system) di Emiten atau Perusahaan Publik (jika ada), antara lain meliputi:• cara penyampaian laporan pelanggaran;• perlindungan bagi pelapor;• penanganan pengaduan;• pihak yang mengelola pengaduan; dan• hasil dari penanganan pengaduan, paling sedikit

meliputi: » jumlah pengaduan yang masuk dan diproses

dalam tahun buku; dan » tindak lanjut pengaduan;

XV. uraian mengenai sistem pelaporan pelanggaran (whistleblowing system) di Emiten atau Perusahaan Publik (jika ada), antara lain meliputi:• cara penyampaian laporan pelanggaran;• perlindungan bagi pelapor;• penanganan pengaduan;• pihak yang mengelola pengaduan; dan• hasil dari penanganan pengaduan, paling sedikit

meliputi: » jumlah pengaduan yang masuk dan diproses

dalam tahun buku; dan » tindak lanjut pengaduan;

XVI. penerapan atas Pedoman Tata Kelola Perusahaan Terbuka bagi Emiten yang menerbitkan Efek Bersifat Ekuitas atau Perusahaan Publik, meliputi:• pernyataan mengenai rekomendasi yang telah

dilaksanakan; dan/atau• penjelasan atas rekomendasi yang belum

dilaksanakan, disertai alasan dan alternatif pelaksanaannya (jika ada);

XVI. penerapan atas Pedoman Tata Kelola Perusahaan Terbuka bagi Emiten yang menerbitkan Efek Bersifat Ekuitas atau Perusahaan Publik, meliputi:• a) pernyataan mengenai rekomendasi yang telah

dilaksanakan; dan/atau• b) penjelasan atas rekomendasi yang belum

dilaksanakan, disertai alasan dan alternatif pelaksanaannya (jika ada);



HALAMANPAGE

h. Tanggung Jawab Sosial dan Lingkungan Emiten atau Perusahaan Publik

Tanggung Jawab Sosial dan Lingkungan Emiten atau Perusahaan Publik

I. Informasi mengenai tanggung jawab sosial dan lingkungan Emiten atau Perusahaan Publik meliputi kebijakan, jenis program, dan biaya yang dikeluarkan, antara lain terkait aspek:

I. Informasi mengenai tanggung jawab sosial dan lingkungan Emiten atau Perusahaan Publik meliputi kebijakan, jenis program, dan biaya yang dikeluarkan, antara lain terkait aspek:• lingkungan hidup, antara lain:

» penggunaan material dan energi yang ramah lingkungan dan dapat didaur ulang;

» sistem pengolahan limbah Emiten atau Perusahaan Publik;

» mekanisme pengaduan masalah lingkungan; dan

» sertifikasi di bidang lingkungan yang dimiliki;• lingkungan hidup, antara lain:

» penggunaan material dan energi yang ramah lingkungan dan dapat didaur ulang;

» sistem pengolahan limbah Emiten atau Perusahaan Publik;

» mekanisme pengaduan masalah lingkungan; dan

» sertifikasi di bidang lingkungan yang dimiliki;• praktik ketenagakerjaan, kesehatan, dan

keselamatan kerja, antara lain: » kesetaraan gender dan kesempatan kerja; » sarana dan keselamatan kerja; » tingkat perpindahan (turnover) karyawan; » tingkat kecelakaan kerja; » pendidikan dan/atau pelatihan; » remunerasi; dan » mekanisme pengaduan masalah

ketenagakerjaan;• praktik ketenagakerjaan, kesehatan, dan

keselamatan kerja, antara lain: » kesetaraan gender dan kesempatan kerja; » sarana dan keselamatan kerja; » tingkat perpindahan (turnover) karyawan; » tingkat kecelakaan kerja; » pendidikan dan/atau pelatihan; » remunerasi; dan » mekanisme pengaduan masalah

ketenagakerjaan;



HALAMANPAGE

• pengembangan sosial dan kemasyarakatan, antara lain: » penggunaan tenaga kerja lokal; » pemberdayaan masyarakat sekitar Emiten

atau Perusahaan Publik antara lain melalui penggunaan bahan baku yang dihasilkan oleh masyarakat atau pemberian edukasi;

» perbaikan sarana dan prasarana sosial; » bentuk donasi lainnya; dan » komunikasi mengenai kebijakan dan prosedur

anti korupsi di Emiten atau Perusahaan Publik, serta pelatihan mengenai anti korupsi (jika ada);

• pengembangan sosial dan kemasyarakatan, antara lain: » penggunaan tenaga kerja lokal; » pemberdayaan masyarakat sekitar Emiten

atau Perusahaan Publik antara lain melalui penggunaan bahan baku yang dihasilkan oleh masyarakat atau pemberian edukasi;

» perbaikan sarana dan prasarana sosial; » bentuk donasi lainnya; dan » komunikasi mengenai kebijakan dan prosedur

anti korupsi di Emiten atau Perusahaan Publik, serta pelatihan mengenai anti korupsi (jika ada);

• tanggung jawab barang dan/atau jasa, antara lain: » kesehatan dan keselamatan konsumen; » informasi barang dan/atau jasa; dan » sarana, jumlah, dan penanggulangan atas

pengaduan konsumen.• tanggung jawab barang dan/atau jasa, antara lain:

» kesehatan dan keselamatan konsumen; » informasi barang dan/atau jasa; dan » sarana, jumlah, dan penanggulangan atas

pengaduan konsumen.II. Dalam hal Emiten atau Perusahaan Publik

menyajikan informasi mengenai tanggung jawab sosial dan lingkungan sebagaimana dimaksud pada angka 1) pada laporan tersendiri seperti laporan tanggung jawab sosial dan lingkungan atau laporan keberlanjutan (sustainability report), Emiten atau Perusahaan Publik dikecualikan untuk mengungkapkan informasi mengenai tanggung jawab sosial dan lingkungan dalam Laporan Tahunan; dan

II. Dalam hal Emiten atau Perusahaan Publik menyajikan informasi mengenai tanggung jawab sosial dan lingkungan sebagaimana dimaksud pada angka 1) pada laporan tersendiri seperti laporan tanggung jawab sosial dan lingkungan atau laporan keberlanjutan (sustainability report), Emiten atau Perusahaan Publik dikecualikan untuk mengungkapkan informasi mengenai tanggung jawab sosial dan lingkungan dalam Laporan Tahunan; dan

III. Laporan sebagaimana dimaksud pada angka 2) disampaikan kepada Otoritas Jasa Keuangan bersamaan dengan penyampaian Laporan Tahunan;

III. Laporan sebagaimana dimaksud pada angka 2) disampaikan kepada Otoritas Jasa Keuangan bersamaan dengan penyampaian Laporan Tahunan;



HALAMANPAGE

i. Laporan Keuangan Tahunan yang Telah DiauditLaporan keuangan tahunan yang dimuat dalam Laporan Tahunan disusun sesuai dengan Standar Akuntansi Keuangan di Indonesia dan telah diaudit oleh Akuntan. Laporan keuangan dimaksud memuat pernyataan mengenai pertanggungjawaban atas laporan keuangan sebagaimana diatur dalam peraturan perundang- undangan di sektor Pasar Modal yang mengatur mengenai tanggung jawab Direksi atas laporan keuangan atau peraturan perundang-undangan di sektor Pasar Modal yang mengatur mengenai laporan berkala Perusahaan Efek dalam hal Emiten merupakan Perusahaan Efek; dan

Laporan Keuangan Tahunan yang Telah DiauditLaporan keuangan tahunan yang dimuat dalam Laporan Tahunan disusun sesuai dengan Standar Akuntansi Keuangan di Indonesia dan telah diaudit oleh Akuntan. Laporan keuangan dimaksud memuat pernyataan mengenai pertanggungjawaban atas laporan keuangan sebagaimana diatur dalam peraturan perundang- undangan di sektor Pasar Modal yang mengatur mengenai tanggung jawab Direksi atas laporan keuangan atau peraturan perundang-undangan di sektor Pasar Modal yang mengatur mengenai laporan berkala Perusahaan Efek dalam hal Emiten merupakan Perusahaan Efek; dan



HALAMANPAGE

j. Surat Pernyataan Anggota Direksi dan Anggota Dewan Komisaris tentang Tanggung Jawab atas Laporan TahunanSurat pernyataan anggota Direksi dan anggota Dewan Komisaris tentang tanggung jawab atas Laporan Tahunan disusun sesuai dengan format Surat Pernyataan Anggota Direksi dan Anggota Dewan Komisaris tentang Tanggung Jawab atas Laporan Tahunan sebagaimana tercantum dalam Lampiran yang merupakan bagian tidak terpisahkan dari Surat Edaran Otoritas Jasa Keuangan ini.

Surat Pernyataan Anggota Direksi dan Anggota Dewan Komisaris tentang Tanggung Jawab atas Laporan TahunanSurat pernyataan anggota Direksi dan anggota Dewan Komisaris tentang tanggung jawab atas Laporan Tahunan disusun sesuai dengan format Surat Pernyataan Anggota Direksi dan Anggota Dewan Komisaris tentang Tanggung Jawab atas Laporan Tahunan sebagaimana tercantum dalam Lampiran yang merupakan bagian tidak terpisahkan dari Surat Edaran Otoritas Jasa Keuangan ini.

Halaman ini sengaja dikosongkan.This page is intentionally left blank.


PT Elnusa Tbkdan ent itas anaknya/ and its subsidiaries

Laporan keuangan konsolidasiantanggal 31 Desember 2019dan untuk tahun yang berakhir pada tanggal tersebutbeserta laporan auditor independen/Consolidated financial statementsas of December 31, 2019and for the year then endedwith independent auditors’ report


The original consolidated financial statements included hereinare in the Indonesian language.

PT ELNUSA TBK DAN ENTITAS ANAKNYALAPORAN KEUANGAN KONSOLIDASIAN

TANGGAL 31 DESEMBER 2019DAN UNTUK TAHUN YANG BERAKHIR

PADA TANGGAL TERSEBUTBESERTA LAPORAN AUDITOR INDEPENDEN

PT ELNUSA TBK AND ITS SUBSIDIARIESCONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2019AND FOR THE YEAR THEN ENDED

WITH INDEPENDENT AUDITORS’ REPORT

Daftar Isi Table of Contents

Halaman/Page

Laporan Auditor Independen Independent Auditors’ Report

Laporan Posisi Keuangan Konsolidasian........................ 1-2 ............Consolidated Statement of Financial Position

Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or LossKomprehensif Lain Konsolidasian............................ 3 .......................and Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian .................... 4 ...........Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian .................................... 5 ..................... Consolidated Statement of Cash Flows

Catatan Atas Laporan Keuangan Konsolidasian............. 6-108 ....... Notes to the Consolidated Financial Statements

Lampiran I: Informasi Keuangan Entitas Induk .............. 109-114 ......... Appendix I: Parent Entity Financial Information

**************************



Catatan atas laporan keuangan konsolidasian terlampirmerupakan bagian yang tidak terpisahkan dari laporan keuangan

konsolidasian ini secara keseluruhan.

The accompanying notes to the consolidated financial statementsform an integral part of these consolidated financial statements

taken as a whole.

1

PT ELNUSA TBK DAN ENTITAS ANAKNYALAPORAN POSISI KEUANGAN

KONSOLIDASIANTanggal 31 Desember 2019

(Disajikan dalam jutaan Rupiah,kecuali dinyatakan lain)

PT ELNUSA TBK AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF

FINANCIAL POSITIONAs of December 31, 2019

(Expressed in millions of Rupiah,unless otherwise stated)

31 Desember/ 31 Desember/December 31, Catatan/ December 31,

2019 Notes 2018

ASET ASSETS

ASET LANCAR CURRENT ASSETSKas dan setara kas 856.122 2f,2g,4,30a 719.457 Cash and cash equivalentsPiutang usaha - neto: 2g,5 Trade receivables - net:

Pihak ketiga 254.293 286.007 Third partiesPihak berelasi 1.835.665 2i,30b 1.285.836 Related parties

Aset keuangan lancar lainnya - neto: 2g,6 Other current financial assets - net:Pihak ketiga 4.628 3.240 Third partiesPihak berelasi 30.496 2i,30c 17.850 Related parties

Persediaan - neto 213.298 2h,7 167.065 Inventories - netUang muka 129.979 8 89.952 AdvancesPajak dibayar di muka - bagian lancar 350.353 2t,18a 574.087 Prepaid taxes - current portionBiaya dibayar di muka 23.536 9 15.013 Prepaid expenses

Total Aset Lancar 3.698.370 3.158.507 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETSAset keuangan tidak lancar lainnya - neto: 2f,2g,3b,10 Other non-current financial assets - net:

Pihak ketiga 131.165 110.651 Third partiesPihak berelasi 333.788 2i,30d 53.310 Related parties

Investasi pada saham - neto 16.660 11 8.946 Investments in shares - netUang muka 49.509 2g,8 22.123 AdvancesAset tetap - neto 1.819.321 2j,3b,12 1.735.854 Fixed assets - netAset takberwujud - neto 13.745 2k,2n,13 18.267 Intangible assets - netProperti investasi - neto 51.876 2m,3b,14 51.993 Investment properties - netPajak dibayar di muka - Prepaid taxes - non-current

bagian tidak lancar 492.276 18a 327.212 portionAset pajak tangguhan 127.598 2t,3b,18d 109.684 Deferred tax assetsAset lain-lain 70.729 60.780 Other assets

Total Aset Tidak Lancar 3.106.667 2.498.820 Total Non-current Assets

TOTAL ASET 6.805.037 5.657.327 TOTAL ASSETS






taken as a whole.

2

PT ELNUSA TBK DAN ENTITAS ANAKNYALAPORAN POSISI KEUANGAN

KONSOLIDASIAN (lanjutan)Tanggal 31 Desember 2019


PT ELNUSA TBK AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OFFINANCIAL POSITION (continued)

As of December 31, 2019(Expressed in millions of Rupiah,

unless otherwise stated)

31 Desember/ 31 Desember/December 31, Catatan/ December 31,

2019 Notes 2018

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES2g,15,

Pinjaman bank jangka pendek 309.302 30e,31d 608.865 Short-term bank loansUtang usaha: 2g,16 Trade payables:

Pihak ketiga 448.171 257.084 Third partiesPihak berelasi 244.626 2i,30f 260.386 Related parties

Liabilitas jangka pendek lainnya 55.078 2g,17 54.673 Other current liabilitiesLiabilitas imbalan kerja Short-term employee

jangka pendek 119.055 22d 85.031 benefits liabilityUtang pajak 73.424 2g,18b 28.780 Taxes payableBeban akrual 1.004.400 3b,19 822.079 Accrued expensesPendapatan ditangguhkan - Deferred Income -

bagian lancar 10.700 21 - current portionPinjaman bank jangka panjang - Long-term bank loans -

bagian lancar 239.579 20 - current portion

Total Liabilitas Jangka Pendek 2.504.335 2.116.898 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIESPendapatan ditangguhkan - Deferred Income -

bagian tidak lancar 90.950 21 - net of current portionPinjaman bank jangka panjang -

setelah dikurangi bagian Long-term bank loans -lancar 578.159 20 212.550 net of current portion

Liabilitas imbalan kerja 54.895 2r,3b,22 27.679 Employee benefits liability

Total Liabilitas Jangka Panjang 724.004 240.229 Total Non-current Liabilities

TOTAL LIABILITAS 3.228.339 2.357.127 TOTAL LIABILITIES

EKUITAS EQUITY

Ekuitas yang dapat diatribusikan Equity attributable tokepada pemilik entitas induk owners of the parent

Modal saham - nilai nominal Share capital - Rp100 (full amount)Rp100 (nilai penuh) per saham par value per shareModal dasar - 22.500.000.000 saham Authorized - 22,500,000,000 sharesModal ditempatkan dan disetor penuh - Issued and fully paid -

7.298.500.000 saham 729.850 23a,35e 729.850 7,298,500,000 sharesTambahan modal disetor 435.691 2e,2w,23b 435.691 Additional paid-in capitalSaldo laba: Retained earnings:

Dicadangkan 135.229 2b,23c 134.229 AppropriatedTidak dicadangkan 2.329.556 2.043.161 Unappropriated

Penghasilan komprehensif lain (55.288) 2c,23d (44.436) Other comprehensive income

Ekuitas yang dapat diatribusikan Equity attributable tokepada pemilik entitas induk - neto 3.575.038 3.298.495 owners of the parent entity - net

Kepentingan nonpengendali 1.660 2b,24 1.705 Non-controlling interests

EKUITAS - NETO 3.576.698 3.300.200 EQUITY - NET

TOTAL LIABILITAS DAN EKUITAS 6.805.037 5.657.327 TOTAL LIABILITIES AND EQUITY






taken as a whole.

3

PT ELNUSA TBK DAN ENTITAS ANAKNYALAPORAN LABA RUGI DAN PENGHASILAN

KOMPREHENSIF LAIN KONSOLIDASIANUntuk Tahun yang Berakhir pada

Tanggal 31 Desember 2019(Disajikan dalam jutaan Rupiah,

kecuali dinyatakan lain)

PT ELNUSA TBK AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOMEFor the Year EndedDecember 31, 2019


Tahun yang berakhir padatanggal 31 Desember/

Year ended December 31,

Catatan/2019 Notes 2018

PENDAPATAN 8.385.122 2q,25,30i 6.624.774 REVENUES

BEBAN POKOK PENDAPATAN (7.514.040) 2q,26,30j (5.972.680) COST OF REVENUES

LABA BRUTO 871.082 652.094 GROSS PROFIT

Beban penjualan (4.180) (2.579) Selling expensesBeban umum dan administrasi (333.221) 27 (268.740) General and administrative expensesPendapatan keuangan 17.093 18.605 Finance incomeBeban keuangan (40.490) 28 (90.092) Finance expensesPenghasilan (beban) lain-lain - neto (15.705) 29 67.530 Other income (expenses) - net

LABA SEBELUM PAJAK FINAL PROFIT BEFORE FINAL TAXDAN PAJAK PENGHASILAN 494.579 376.818 AND INCOME TAX

Beban pajak final (27.830) 2t (25.011) Final tax expense

LABA SEBELUM PAJAK PENGHASILAN 466.749 351.807 PROFIT BEFORE INCOME TAX

Beban pajak penghasilan (110.272) 2t,18c (75.491) Income tax expense

LABA TAHUN BERJALAN 356.477 276.316 PROFIT FOR THE YEAR

PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Pos-pos yang tidak akan direklasifikasi Items that will not be reclassified toke laba rugi profit or lossPengukuran kembali program Remeasurements of defined

imbalan pasti (14.469) 2r 15.679 benefit plansPajak tangguhan terkait 3.617 2t,18d (3.920) Related deferred tax

PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOMESETELAH PAJAK (10.852) 23d 11.759 AFTER TAX

TOTAL LABA KOMPREHENSIF TOTAL COMPREHENSIVE INCOMETAHUN BERJALAN 345.625 288.075 FOR THE YEAR

LABA TAHUN BERJALAN YANG PROFIT FOR THE YEARDAPAT DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:Pemilik entitas induk 356.474 276.314 Owners of the parentKepentingan nonpengendali 3 2 Non-controlling interests

Total 356.477 276.316 Total

TOTAL LABA KOMPREHENSIF TOTAL COMPREHENSIVE INCOMETAHUN BERJALAN YANG FOR THE YEARDAPAT DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:Pemilik entitas induk 345.622 288.073 Owners of the parentKepentingan nonpengendali 3 2 Non-controlling interests

Total 345.625 288.075 Total

LABA PER SAHAM EARNINGS PER SHARE(NILAI PENUH) 48,84 2v,33 37,86 (FULL AMOUNT)


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taken as a whole.

5

PT ELNUSA TBK DAN ENTITAS ANAKNYALAPORAN ARUS KAS KONSOLIDASIAN

Untuk Tahun yang Berakhir padaTanggal 31 Desember 2019


PT ELNUSA TBK AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF CASH FLOWS

For the Year EndedDecember 31, 2019


Tahun yang berakhir padatanggal 31 Desember /


Catatan/2019 Notes 2018

ARUS KAS DARI CASH FLOWS FROMAKTIVITAS OPERASI OPERATING ACTIVITIESPenerimaan dari pelanggan 8.010.747 6.458.067 Receipts from customersPembayaran kepada pemasok Payments to suppliers

dan kontraktor (6.520.717) (5.044.707) and contractorsPembayaran untuk karyawan (1.166.954) (913.226) Payments to employees

Kas yang dihasilkan dari operasi 323.076 500.134 Cash generated from operationsPenerimaan pendapatan keuangan 16.486 19.345 Receipts of finance incomePembayaran beban keuangan (60.015) (46.504) Payments of finance expensesPembayaran pajak penghasilan (234.300) (214.552) Payments of income taxesPenerimaan restitusi pajak 525.037 18e 78.625 Receipts of tax refundsPenerimaan lainnya - neto 5.513 7.708 Other receipts - net

Kas neto diperoleh dari Net cash provided byaktivitas operasi 575.797 344.756 operating activities

ARUS KAS DARI CASH FLOWS FROMAKTIVITAS INVESTASI INVESTING ACTIVITIESPenerimaan dividen kas dari Receipts of cash dividends from

perusahaan asosiasi 1.500 2.100 associatesPembelian aset tetap (377.718) (526.730) Purchases of fixed assetsPembelian aset tetap untuk piutang Purchases of fixed assets

sewa pembiayaan (236.992) (9.955) for finance lease receivablesPembayaran uang muka Payments for advance for

pembelian aset tetap (35.078) (2.570) fixed assetsPembelian aset tak berwujud (2.269) (11.674) Purchases of intangible assetsPembelian barang konsumsi Purchases of long-life

tahan lama (29.611) (38.578) consumable goodsPenerimaan dari penjualan aset tetap 3.305 12 2.348 Proceeds from sale of fixed assetsPenambahan investasi di entitas anak - (1.000) Addition of investment in subsidiaryPenerimaan (penempatan) atas Proceeds (placement) for other

aktivitas investasi lainnya 5.750 (612) investing activities

Kas neto digunakan untuk Net cash used in investingaktivitas investasi (671.113) (586.671) activities

ARUS KAS DARI CASH FLOWS FROMAKTIVITAS PENDANAAN FINANCING ACTIVITIESPenerimaan dari pinjaman bank 2.196.382 1.437.165 Proceeds from bank loansPembayaran pinjaman bank (1.869.410) 15,20 (1.358.273) Payments of bank loansPembayaran dividen kas (69.079) 23c (37.071) Payments of cash dividendsPenempatan kas yang Placement of

dibatasi penggunaannya - neto (18.607) (4.447) restricted cash - net

Kas neto yang diperoleh dari Net cash provided byaktivitas pendanaan 239.286 37.374 financing activities

Dampak perubahan selisih kurs Effect of exchange rate changesterhadap kas dan setara kas (7.305) 21.435 on cash and cash equivalents

KENAIKAN (PENURUNAN) NETO NET INCREASE (DECREASE) INKAS DAN SETARA KAS 136.665 (183.106) CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTSPADA AWAL TAHUN 719.457 4 902.563 AT THE BEGINNING OF THE YEAR

KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTSAKHIR TAHUN 856.122 4 719.457 AT THE END OF THE YEAR



PT ELNUSA Tbk DAN ENTITAS ANAKNYACATATAN ATAS LAPORAN KEUANGAN

KONSOLIDASIANTanggal 31 Desember 2019 dan untuk

Tahun yang Berakhir pada Tanggal Tersebut(Disajikan dalam jutaan Rupiah,


PT ELNUSA Tbk AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTSAs of December 31, 2019, and

For the Year Then Ended(Expressed in millions of Rupiah,


6

1. UMUM 1. GENERAL

a. Pendirian Perusahaan a. Establishment of the Company

PT Elnusa Tbk (“Perusahaan”) didirikan dengannama PT Electronika Nusantara berdasarkanAkta Notaris No. 18 tanggal 25 Januari 1969dari Tan Thong Kie, S.H., sebagaimana diubahmelalui Akta Notaris No. 10 tanggal 13 Februari1969 dari notaris yang sama. Akta pendirian ini,yang merupakan Anggaran Dasar Perusahaan,telah mendapat pengesahan dari MenteriKehakiman Republik Indonesia melalui SuratKeputusan No. J.A.5/18/24 tanggal 19 Februari1969, serta telah diumumkan dalam BeritaNegara Republik Indonesia No. 35, TambahanNo. 58 tanggal 2 Mei 1969. Anggaran DasarPerusahaan telah beberapa kali mengalamiperubahan. Perubahan terakhir adalah untukmenyesuaikan ruang lingkup kegiatanPerusahaan berdasarkan Akta Notaris No. 37tanggal 31 Agustus 2018 dari Aulia Taufani,S.H., yang telah diberitahukan kepada MenteriHukum dan Hak Asasi Manusia RepublikIndonesia dan memperoleh surat penerimaanpemberitahuan No. AHU-0019251.AH.01.02tanggal 18 September 2018

PT Elnusa Tbk (the “Company”) was establishedunder the name of PT Electronika Nusantarabased on Notarial Deed No. 18 dated January 25,1969 of Tan Thong Kie, S.H., which wassubsequently amended by Notarial Deed No. 10dated February 13, 1969 of the same notary. TheDeed of Establishment, which is the Company’sArticles of Association, was approved by theMinister of Justice of the Republic of Indonesia inits Decision Letter No. J.A.5/18/24 dated February19, 1969, and was published in SupplementNo. 58 of State Gazette of the Republic ofIndonesia No. 35 dated May 2, 1969. TheCompany’s Articles of Association have beenamended several times. The latest amandmentwas made to adjust the scope of the Company’sactivities, under Notarial Deed No. 37 datedAugust 31, 2018 of Aulia Taufani, S.H., which hasbeen reported to the Minister of Law and HumanRights of the Republic of Indonesia andhas been acknowledged through its letter ofacknowledgement No. AHU-0019251.AH.01.02dated September 18, 2018.

Berdasarkan Anggaran Dasar Perusahaan,ruang lingkup kegiatan Perusahaan adalahbergerak di bidang jasa, pengelolaan air dan airlimbah, perdagangan, pertambangan,pembangunan dan perindustrian. Saat ini,Perusahaan beroperasi di bidang jasa hulumigas dan penyertaan saham pada entitas anakserta ventura bersama yang bergerak dalamberbagai bidang usaha jasa penunjang migasdan jasa distribusi dan logistik energi.Perusahaan juga beroperasi di bidangpenyediaan barang dan jasa termasukpenyediaan dan pengelolaan ruangperkantoran kepada entitas anak, pihak berelasidan pihak ketiga.

In accordance with the Company’s Articles ofAssociation, the scope of its activities is in thebusiness of services, water and wastewatermanagement, trading, mining, construction andindustry. Currently, the Company is engaged inupstream oil and gas services and investing inshares of stock of subsidiaries and joint venturesthat are engaged in various businesses in oil andgas support services and energy distribution andlogistics services. The Company also providesgoods and services including providing andmanaging office space for its subsidiaries, relatedparties and third parties.

Perusahaan berdomisili di Graha Elnusa,Lantai 16, Jl. T.B. Simatupang Kav. 1B, JakartaSelatan, dan mulai beroperasi secara komersialpada bulan September 1969.

The Company is located at Graha Elnusa,16th Floor, Jl. T.B. Simatupang Kav. 1B, SouthJakarta, and started its commercial operations inSeptember 1969.

Entitas induk Perusahaan adalahPT Pertamina (Persero) dan entitas indukterakhirnya adalah Pemerintah RepublikIndonesia.

The Company’s parent is PT Pertamina (Persero)and its ultimate parent is the Government of theRepublic of Indonesia.











7

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Penawaran umum saham b. Public offering of shares

Pada tanggal 25 Januari 2008, BadanPengawas Pasar Modal dan LembagaKeuangan (“Bapepam-LK”) menerbitkan SuratPemberitahuan Efektif Pernyataan Pendaftaransehubungan dengan Penawaran Umum SahamPerdana Perusahaan sebanyak 1.460.000.000saham. Pada tanggal 6 Februari 2008, sahamPerusahaan mulai diperdagangkan di BursaEfek Indonesia dengan harga penawaranperdana sebesar Rp400 (nilai penuh) persaham.

On January 25, 2008, the Capital Market andFinancial Institutions Supervisory Agency(“Bapepam-LK”) issued the Effective StatementLetter in accordance with the Company’s InitialPublic Offering of 1,460,000,000 shares. OnFebruary 6, 2008, the Company’s shares werelisted on the Indonesia Stock Exchange at aninitial offering price of Rp400 (full amount) pershare.

Ringkasan tindakan Perusahaan (corporateactions) yang mempengaruhi saham yangditerbitkan sejak tanggal penawaran umumperdana sampai dengan tanggal 31 Desember2019 dan 2018, adalah sebagai berikut:

The summary of the Company’s corporate actionsaffecting its capital stock from the date of its initialpublic offering up to December 31, 2019 and 2018is as follows:

Tanggal/DateKeterangan/Description

Jumlah sahamditempatkandan disetor

penuh/Number of

shares issuedand fully paid

Nilai nominalper saham

dalam Rupiah(angka penuh)/Par value per

share in Rupiah(full amount)

29-31 Januari 2008/January 29-31, 2008

Penawaran umum perdana sebanyak 20%dari Modal Dasar atau sebanyak1.460.000.000 saham/Initial public offering amounting to 20% ofAuthorized Capital or equivalent to1,460,000,000 shares 7.298.500.000 100

6 Februari 2008/February 6, 2008

Mencatatkan saham Perseroan yang beredarsebanyak 7.298.500.000 saham di BEIdengan kode perdagangan “ELSA”/Listed 7,298,500,000 shares issued at IDXunder “ELSA” ticker 7.298.500.000 100

13 Oktober 2008 -12 Januari 2009/October 13, 2008 -January 12, 2009

Pembelian kembali 99.738.000 saham danmencatatkannya sebagai saham treasury/Buy back of 99,738,000 shares and recordedas treasury stocks 7.298.500.000 100

16 Desember 2011/December 16, 2011

Menerbitkan Keterbukaan Informasi untukmelakukan penjualan kembali atas sahamtreasury efektif mulai 2 Januari 2012/Published an information disclosure regardingsell back program on the treasury stockseffective on January 2, 2012 7.298.500.000 100

28 Juni 2013/June 23, 2013

Menerbitkan Keterbukaan Informasi bahwaPerusahaan telah melakukan pengalihan ataupenjualan atas seluruh saham hasil pembeliankembali/Published an information disclosure regardingsell back of the Company’s shares on the buyback program 7.298.500.000 100











8


b. Penawaran umum saham (lanjutan) b. Public offering of shares (continued)

Pada tanggal 31 Desember 2019 dan 2018,seluruh saham Perseroan tercatat di Bursa EfekIndonesia.

As of December 31, 2019 and 2018, all of theCompany’s shares are listed on the IndonesiaStock Exchange.

c. Dewan Komisaris, Direksi, Komite Audit dankaryawan

c. Board of Commissioners, Directors, AuditCommittee and employees

Pada tanggal 31 Desember 2019 dan 2018,susunan Dewan Komisaris dan DireksiPerusahaan adalah sebagai berikut:

As of December 31, 2019 and 2018, thecomposition of the Company’s Boards ofCommissioners and Directors is as follows:

31 Desember 2019 December 31, 2019Dewan Komisaris Board of CommissionersKomisaris Utama Narendra Widjajanto President CommissionerKomisaris Independen Lusiaga Levi Susila Independent CommissionerKomisaris Independen Anis Baridwan Independent CommissionerKomisaris Antonius Ratdomopurbo CommissionerKomisaris Eman Salman Arief Commissioner

Direksi DirectorsDirektur Utama Elizar Parlindungan Hasibuan President DirectorDirektur Pengembangan Usaha Business Development Director

dan Direktur Operasi and Operations Director(Direktur Independen) Arief Riyanto (Independent Director)

Direktur Keuangan Hery Setiawan Finance DirectorDirektur Sumber Daya Manusia Human Resources &

& Umum RM Happy Paringhadi J.S. General Affair Director

31 Desember 2018 December 31, 2018Dewan Komisaris Board of CommissionersKomisaris Utama Narendra Widjajanto President CommissionerKomisaris Independen Lusiaga Levi Susila Independent CommissionerKomisaris Independen Pradana Ramadhian G. Independent CommissionerKomisaris Afdal Martha CommissionerKomisaris Eman Salman Arief Commissioner

Direksi DirectorsDirektur Utama Tolingul Anwar President DirectorDirektur Operasi Elizar Parlindungan Hasibuan Operations DirectorDirektur Pengembangan Usaha Business Development Director

(Direktur Independen) Arief Riyanto (Independent Director)Direktur Keuangan Hery Setiawan Finance DirectorDirektur Sumber Daya Manusia Human Resources & General

& Umum RM Happy Paringhadi J.S. Director

Personil manajemen kunci Perusahaan adalahDewan Komisaris dan Direksi sebagaimanadisebutkan di atas (Catatan 30h).

Key management personnel of the Company arethe above mentioned Boards of Commissionersand Directors (Note 30h).











9


c. Dewan Komisaris, Direksi, Komite Audit dankaryawan (lanjutan)

c. Board of Commissioners, Directors, AuditCommittee and employees (continued)

Pada tanggal 31 Desember 2019 dan 2018,susunan Komite Audit Perusahaan adalahsebagai berikut:

As of December 31, 2019 and 2018, thecomposition of the Company’s Audit Committee isas follows:

31 Desember 2019 Desember 31, 2019Ketua Anis Baridwan ChairmanAnggota Reynold M. Batubara MemberAnggota Eddy Rachmadi Member

31 Desember 2018 December 31, 2018Ketua Pradana Ramadhian G. ChairmanAnggota Reynold M. Batubara MemberAnggota Eddy Rachmadi Member

Perusahaan dan entitas anaknya memiliki 2.075karyawan (1.425 karyawan tetap dan 650karyawan kontrak) dan 2.090 karyawan (1.414karyawan tetap dan 676 karyawan kontrak)masing-masing pada tanggal 31 Desember2019 dan 2018.

The Company and its subsidiaries have 2,075employees (1,425 permanent employees and 650contractual employees) and 2,090 employees(1,414 permanent employees and 676 contractualemployees) as of December 31, 2019 and 2018,respectively.

d. Entitas Anak d. Subsidiaries

Laporan keuangan konsolidasian meliputilaporan keuangan Perusahaan dan entitasanaknya (secara kolektif disebut sebagai“Grup”) sebagai berikut:

The consolidated financial statements include thefinancial statements of the Company and itssubsidiaries (collectively referred to as the“Group”) as follows:

Mulai Persentase kepemilikan Total aset sebelumberoperasi efektif/ eliminasi/

secara Effective percentage of Total assets beforeTempat komersial/ ownership elimination

kedudukan/ Start ofNama entitas anak/ Kegiatan usaha/ Place of commercial 31 Desember/December 31, 31 Desember/December 31,

Name of subsidiaries Business activities domicile operations 2019 2018 2019 2018

Kepemilikan langsung/Direct ownership

PT Sigma Cipta Utama Manajemen data, teknologi Jakarta 1980 99,99 99,99 156.015 137.532(“SCU”) informasi dan

telekomunikasi/Data management,information technologyand telecommunications

PT Elnusa Fabrikasi Jasa penguliran, perdagangan Batam 1983 99,97 99,97 162.894 109.430Konstruksi (“EFK”) dan pabrikasi pipa/

Pipe threading, trading andmanufacturing services

PT Elnusa Petrofin SPBU, depo, transportasi dan Jakarta 1996 99,99 99,99 1.974.247 1.378.949(“EPN”) perdagangan BBM dan

bahan kimia/Retail gas station, fuelstorage, oil and chemicalsdistribution and trading

PT Elnusa Patra Ritel Saat ini tidak beroperasi/ Jakarta 1996 -*) -*) -*) -*)

(“EPR”) *) Currently not in operation

*) Efektif tanggal 30 Juni 2018, EPR digabung ke EFK/Effective starting June 30, 2018, EPR was merged to EFK











10


d. Entitas Anak (lanjutan) d. Subsidiaries (continued)

Laporan keuangan konsolidasian meliputilaporan keuangan Perusahaan dan entitasanaknya (secara kolektif disebut sebagai“Grup”) sebagai berikut: (lanjutan)

The consolidated financial statements include thefinancial statements of the Company and itssubsidiaries (collectively referred to as the“Group”) as follows: (continued)

Mulai Persentase kepemilikan Total aset sebelumberoperasi efektif/ eliminasi/

secara Effective percentage of Total assets beforeTempat komersial/ ownership elimination

kedudukan/ Start ofNama entitas anak/ Kegiatan usaha/ Place of commercial 31 Desember/December 31, 31 Desember/December 31,

Name of subsidiaries Business activities domicile operations 2019 2018 2019 2018

Kepemilikan langsung/Direct ownership

PT Patra Nusa Data Jasa perolehan dan Jakarta 1998 99,50 99,50 141.794 149.381(“PND”) pengelolaan data eksplorasi

dan produksi migas/Oil and gas exploration andproduction data acquisitionand management services

PT Elnusa Trans Samudera Jasa penyewaan kapal laut Jakarta 2014 99,99 99,99 500.169 416.776(“ETSA”) dan agen perkapalan

perusahaan pelayaran/Ship rental services andshipping agent ofshipping company

PT Elnusa Geosains Belum beroperasi/ Jakarta - 99,99 99,99 11.601 12.270Indonesia (“EGI”) Pre-operating

PT Elnusa Oilfield Services Belum beroperasi/ Jakarta - 99,99 99,99 36.513 35.576(“EOS”) Pre-operating

KSO Elnusa - RAGA Jasa pemeliharaan mekanik/Mechanical maintenance

service Jakarta 2016 100,00 100,00 77.437 23.280

Kepemilikan melalui EFK(dahulu EPR)/Ownership through EFK(formerly EPR) *)

PT Elnusa Daya Kreatif Belum beroperasi/ Jakarta - 99,99 99,99 10.001 10.001(“EDK”) Pre-operating

Pada tanggal 30 April 2018, Perusahaan telahmenandatangani Perjanjian Pengikatan JualBeli Saham atas 2,62% kepemilikan sahamEFK yang dikuasai oleh PT Multi Guna Laksindo(MGL) dengan harga Rp1.000. Pada tanggal30 April 2018, Perusahaan telah melakukanpembayaran kepada MGL. Selisih sebesarRp792 (saldo debit) antara biaya perolehan danpenyesuaian kepentingan nonpengendalidicatat sebagai “Tambahan Modal Disetor”dalam laporan posisi keuangan konsolidasianPerusahaan.

On April 30, 2018, the Company has entered intoSale and Purchase of Shares Agreement toacquire additonal 2,62% ownership interest inEFK owned by PT Multi Guna Laksindo (MGL)amounted to Rp1,000. On April 30, 2018 theCompany has made the payment to MGL. Thedifference of Rp792 (debit balance) between thecost and adjustment in non-controlling interestwas recorded as “Additional Paid in Capital” in theCompany’s consolidated statement of financialposition.











11


d. Entitas anak (lanjutan) d. Subsidiaries (continued)

Pada tanggal 4 Juni 2018, Perusahaan telahmenandatangani Perjanjian Pengikatan JualBeli Saham atas 2% kepemilikan saham EPRyang dikuasai oleh SCU dengan harga Rp30.Pada tanggal 21 Juni 2018, Perusahan telahmelakukan pembayaran kepada SCU. Selisihlaba sebesar Rp795 antara biaya perolehandan penyesuaian kepentingan nonpengendalidicatat sebagai “Tambahan Modal Disetor”dalam laporan posisi keuangan konsolidasian.

On June 4, 2018, the Company has entered intoSale and Purchase of Shares Agreement toacquire additonal 2% ownership interest in SCUowned by SCU amounted to Rp30. On June 21,2018 the Company has made the payment toSCU. The gain difference of Rp795 between thecost and adjustment in non-controlling interestwas recorded as “Additional Paid in Capital” inconsolidated statement of financial position.

Berdasarkan Rapat Umum Pemegang SahamLuar Biasa EFK pada tanggal 26 Juni 2018 yangdiaktakan melalui Akta Notaris Aulia TaufaniS.H No. 43 tanggal 26 Juni 2018 dan telahditerima oleh Menteri Hukum dan Hak AsasiManusia Republik Indonesia melalui SuratPenerimaan Pemberitahuan PenggabunganUsaha EFK No. AHU-AH.01.10-0006497tanggal 29 Juni 2018, pemegang saham EFKmenyetujui penggabungan EFK dengan EPRyang berlaku efektif sejak tanggal 30 Juni 2018.Sebagai hasil penggabungan usaha, EFKsebagai entitas yang menerima penggabungandan EPR bubar demi hukum.

Based on the Extraordinary Shareholders’General Meeting of EFK dated June 26, 2018which was notarised through Notarial Deed No. 43Aulia Taufani S.H, dated June 26, 2018 and wasreceived by the Minister of Law and Human Rightsof the Republic of Indonesia through Receipt ofNotification for Merger of EFK No. AHU-AH.01.10-0006497 dated June 29, 2018, the EFK’sshareholders approved EFK’s merger with EPR,which was effective since Juni 30, 2018. As aresult of the merger, EFK as the surviving entityand EPR was dissolved by the law.

e. Penerbitan laporan keuangan konsolidasian e. Issuance of consolidated financial statements

Laporan keuangan konsolidasian inidiselesaikan dan diotorisasi untuk terbit olehDireksi Perusahaan pada tanggal14 Februari 2020. Direksi Perusahaan yangmenandatangani Surat Pernyataan Direksibertanggung jawab atas penyusunan danpenyajian wajar laporan keuangankonsolidasian tersebut.

These consolidated financial statements arecompleted and authorized for issuance by theCompany’s Directors on February 14, 2020. TheCompany’s Directors who signed the Directors’Statement are responsible for the fair preparationand presentation of such consolidated financialstatements.

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES

Berikut ini adalah kebijakan akuntansi signifikanyang diterapkan dalam penyusunan laporankeuangan konsolidasian Grup yang sesuai denganStandar Akuntansi Keuangan (“SAK”), yangmencakup Pernyataan dan Interpretasi yangdikeluarkan oleh Dewan Standar AkuntansiKeuangan Ikatan Akuntan Indonesia dan PeraturanNo. VIII.G.7 sebagai lampiran dari Keputusan KetuaOJK (dahulu Bapepam-LK) No. KEP-347/BL/2012tertanggal 25 Juni 2012 tentang Penyajian danPengungkapan Laporan Keuangan Emiten atauPerusahaan Publik.

Presented below are the significant accountingpolicies adopted in preparing the Group’s consolidatedfinancial statements, which are in conformity withIndonesian Financial Accounting Standards (“SAK”)which comprised of Statements and Interpretationsissued by the Board of Financial Accounting Standardsof the Institute of Indonesia Chartered Accountantsand Regulation No. VIII.G.7 as appendix of the Decreeof the Chairman of OJK (formerly Bapepam-LK) No.KEP-347/BL/2012 dated June 25, 2012 regarding thePresentation and Disclosure of Financial Statementsof an Issuer or a Public Company.











12

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN(lanjutan)

2. SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES (continued)

Kebijakan ini telah diterapkan secara konsistenterhadap seluruh periode yang disajikan, kecuali jikadinyatakan lain.

These policies have been consistently applied to allperiods presented, unless otherwise stated.

a. Dasar penyajian laporan keuangankonsolidasian

a. Basis of preparation of the consolidatedfinancial statements

Laporan keuangan konsolidasian, kecualilaporan arus kas konsolidasian, disusunberdasarkan konsep akrual dan biayaperolehan historis, kecuali beberapa akuntertentu yang diukur dengan cara sebagaimanayang diuraikan dalam kebijakan akuntansi diakun yang bersangkutan.

The consolidated financial statements, except forthe consolidated statement of cash flows, areprepared using the accrual basis and based onhistorical costs, except for certain accounts whichare measured on the bases described in therelated accounting policies of those accounts.

Laporan arus kas konsolidasian disajikandengan menggunakan metode langsung yangmengelompokkan penerimaan danpengeluaran kas dan setara kas ke dalamaktivitas operasi, investasi dan pendanaan.

The consolidated statement of cash flows ispresented using the direct method by classifyingthe receipts and disbursements of cash and cashequivalents into operating, investing and financingactivities.

Seluruh angka dalam laporan keuangankonsolidasian ini, dibulatkan dan disajikandalam jutaan Rupiah (“Rp”), kecuali dinyatakanlain.

All figures in the consolidated financial statementsare rounded to and expressed in millions ofRupiah (“Rp”), unless otherwise stated.

b. Prinsip-prinsip konsolidasi b. Principles of consolidation

Laporan keuangan konsolidasian meliputilaporan keuangan Perusahaan dan entitasanaknya seperti yang diungkapkan dalamCatatan 1d. Entitas anak merupakan semuaentitas dimana Perusahaan terekspos ataumemiliki hak atas imbal hasil variabel dariketerlibatannya dengan entitas tersebut danmemiliki kemampuan untuk mempengaruhiimbal hasil tersebut melalui kekuasaannya atasentitas tersebut. Dengan demikian, suatuentitas dianggap sebagai entitas anak jika danhanya jika Perusahaan memiliki kekuasaanatas entitas tersebut, eksposur atau hak atasimbal hasil variabel dari keterlibatannya denganentitas tersebut dan kemampuan untukmenggunakan kekuasaannya atas entitastersebut untuk mempengaruhi jumlah imbalhasil Perusahaan.

The consolidated financial statements include thefinancial statements of the Company and itssubsidiaries as disclosed in Note 1d. Subsidiariesare all entities over which the Company isexposed, or has rights, to variable returns from itsinvolvement with the entities and has the ability toaffect those returns through its power over theentities. Thus, an entity is considered a subsidiaryif and only if the Company has power over theentity, exposure or rights to variable returns fromits involvement with the entity and the ability touse its power over the investee to affect theamount of the Company’s returns.

Semua saldo dan transaksi antar entitas yangmaterial, termasuk keuntungan atau kerugianyang belum direalisasi, jika ada, dieliminasiuntuk mencerminkan posisi keuangan dan hasiloperasi Grup sebagai satu kesatuan usaha.Kebijakan akuntansi di entitas anak telahdiubah seperlunya agar konsisten dengankebijakan akuntansi yang diterapkan oleh Grup.

All material intercompany accounts andtransactions, including unrealized gains or losses,if any, are eliminated to reflect the financialposition and the results of operations of the Groupas a single business entity. Accounting policies ofsubsidiaries have been changed wherenecessary to ensure consistency with the policiesadopted by the Group.











13



b. Prinsip-prinsip konsolidasi (lanjutan) b. Principles of consolidation (continued)

Entitas anak dikonsolidasikan mulai dari tanggalpengendalian beralih kepada Perusahaan dantidak lagi dikonsolidasikan dari tanggalhilangnya pengendalian.

Subsidiaries are fully consolidated from the dateon which control is transferred to the Company.They are deconsolidated from the date on whichthat control ceases.

Kepentingan nonpengendali (“KNP”)mencerminkan bagian atas laba rugi,penghasilan komprehensif lain dan aset netodari entitas anak yang tidak dapat diatribusikansecara langsung maupun tidak langsungkepada pemilik entitas induk, yang masing-masing disajikan dalam laporan laba rugi danpenghasilan komprehensif lain konsolidasiandan sebagai ekuitas dalam laporan posisikeuangan konsolidasian, terpisah dari bagianyang dapat diatribusikan kepada pemilik entitasinduk.

Non-controlling interest (“NCI”) represents theportion of profit or loss, other comprehensiveincome and net assets of the subsidiary notattributable directly or indirectly to the owners ofthe parent entity, which are presented in theconsolidated statement of profit or loss and othercomprehensive income and under the equitysection of the consolidated statement of financialposition, respectively, separately from thecorresponding portion attributable to the ownersof the parent entity.

Rugi entitas anak yang tidak dimiliki secarapenuh diatribusikan kepada KNP, bahkan jikahal ini mengakibatkan KNP mempunyai saldodefisit.

Losses of a non-wholly owned subsidiary areattributed to NCI even if such losses result in adeficit balance for the NCI.

Jika kehilangan pengendalian atas suatu entitasanak, maka Perusahaan:

In case it loses control over a subsidiary, theCompany:

- menghentikan pengakuan aset (termasukgoodwill) dan liabilitas entitas anak;

- derecognizes the assets (including goodwill)and liabilities of the subsidiary;

- menghentikan pengakuan jumlah tercatatsetiap KNP;

- derecognizes the carrying amount of anyNCI;

- menghentikan pengakuan akumulasiselisih penjabaran, yang dicatat di ekuitas,bila ada;

- derecognizes the cumulative translationdifferences, recorded in equity, if any;

- mengakui nilai wajar pembayaran yangditerima;

- recognizes the fair value of the considerationreceived;

- mengakui setiap sisa investasi pada nilaiwajarnya;

- recognizes the fair value of any investmentretained;

- mengakui setiap surplus dan defisit dalamlaba rugi;

- recognizes any surplus or deficit in profit orloss;

- mereklasifikasi bagian Perusahaan ataskomponen yang sebelumnya diakuisebagai penghasilan komprehensif lain kelaba rugi atau saldo laba, mana yangsesuai.

- reclassifies the Company’s share ofcomponents previously recognized in othercomprehensive income to profit or loss orretained earnings, as appropriate.

Perubahan dalam bagian kepemilikan Gruppada entitas anak yang tidak mengakibatkanhilangnya pengendalian dicatat sebagaitransaksi ekuitas.

A change in the ownership interest of a subsidiary,without a loss of control, is accounted for as anequity transaction.











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c. Investasi pada ventura bersama c. Investment in joint ventures

Ventura bersama adalah semua entitas yangdikendalikan bersama oleh Grup bersamadengan venturer lain dimana Grup memilik hakatas aset neto ventura bersama tersebut.Investasi pada ventura bersama dicatat denganmenggunakan metode ekuitas yang padaawalnya diakui pada harga perolehannya.

Joint ventures are all entities which are jointlycontrolled by the Group and other venturers, inwhich the Group has rights to only the net assetsof the joint ventures. Investments in joint venturesare accounted for using the equity method ofaccounting and initially recognized at cost.

Bagian Grup atas laba rugi ventura bersamapasca akuisisi diakui dalam laba rugi dan bagianatas mutasi penghasilan komprehensif lainpasca akuisisi diakui di dalam penghasilankomprehensif lain dan diikuti denganpenyesuaian pada jumlah tercatat investasi.Dividen yang akan diterima dari venturabersama diakui sebagai pengurang jumlahtercatat investasi. Jika bagian Grup ataskerugian ventura bersama sama dengan ataumelebihi nilai kepemilikannya di venturabersama, Grup menghentikan pengakuanbagian kerugiannya, kecuali Grup memilikikewajiban hukum atau harus melakukanpembayaran tertentu atas nama venturabersama tersebut.

The Group’s share of the joint ventures’ post-acquisition profits or losses is recognized in profitor loss, and its share of post-acquisitionmovements in other comprehensive income isrecognized in other comprehensive income with acorresponding adjustment to the carrying amountof the investment. Dividends receivable from jointventures are recognized as reductions in thecarrying amount of the investment. When theGroup’s share of losses in a joint venture equalsor exceeds its interest in the joint venture, theGroup does not recognize further losses, unlessthe Group has incurred legal or constructiveobligations or made payments on behalf of thejoint venture.

Laba rugi yang dihasilkan dari transaksi antaraGrup dengan ventura bersama diakui dalamlaporan keuangan konsolidasian Grup hanyasebesar bagian venturer lain yang tidak berelasidalam ventura bersama. Pada setiap tanggalpelaporan, Grup menentukan apakah terdapatbukti obyektif bahwa telah terjadi penurunannilai pada investasi di ventura bersama. Jikademikian, maka Grup menghitung besarnyapenurunan nilai sebagai selisih antara jumlahyang terpulihkan dan jumlah tercatat investasipada ventura bersama dan mengakui selisihtersebut pada “bagian atas laba (rugi) venturabersama” dalam laba rugi.

Profits and losses resulting from transactionsbetween the Group and its joint ventures arerecognized in the Group’s consolidated financialstatements only to the extent of unrelatedventurer’s interest in the joint ventures. The Groupdetermines at each reporting date whether thereis any objective evidence that the investment inthe joint venture is impaired. If this is the case, theGroup calculates the amount of impairment as thedifference between the recoverable amount of thejoint venture and its carrying amount andrecognizes the amount adjacent to “shares ofprofit (loss) of joint ventures” in profit or loss.











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d. Kombinasi bisnis d. Business combination

Kombinasi bisnis dicatat dengan menggunakanmetode akuisisi. Biaya perolehan dari sebuahakuisisi diukur pada nilai agregat imbalan yangdialihkan, diukur pada nilai wajar pada tanggalakuisisi dan jumlah setiap KNP pada pihak yangdiakuisisi. Untuk setiap kombinasi bisnis, Grupmengukur KNP pada entitas yang diakuisisi,baik pada nilai wajar ataupun pada proporsikepemilikan KNP atas aset neto yangteridentifikasi dari entitas yang diakuisisi. Biaya-biaya akuisisi yang timbul dibebankan langsungdan dimasukkan dalam “beban umum danadministrasi”.

Business combinations are accounted for usingthe acquisition method. The cost of an acquisitionis measured as the aggregate of the considerationtransferred, measured at acquisition date fairvalue and the amount of any NCI in the acquiree.For each business combination, the Groupmeasures the NCI in the acquiree either at fairvalue or at the proportionate share of theacquiree’s identifiable net assets. Acquisitioncosts incurred are directly expensed and includedin “general and administrative expenses”.

Ketika melakukan akuisisi atas sebuah bisnis,Grup mengklasifikasikan dan menentukan asetkeuangan yang diperoleh dan liabilitaskeuangan yang diambil alih berdasarkan padapersyaratan kontraktual, kondisi ekonomi dankondisi terkait lain yang ada pada tanggalakuisisi. Hal ini termasuk pemisahan derivatifmelekat dalam kontrak utama oleh pihak yangdiakuisisi.

When the Group acquires a business, it assessesthe financial assets acquired and liabilitiesassumed for appropriate classification anddesignation in accordance with the contractualterms, economic circumstances and pertinentconditions as at the acquisition date. This includesthe separation of embedded derivatives in hostcontracts by the acquiree.

Pada tanggal akuisisi, goodwill awalnya diukurpada biaya perolehan yang merupakan selisihlebih nilai agregat dari imbalan yang dialihkandan jumlah setiap KNP atas selisih jumlah dariaset neto teridentifikasi yang diperoleh danliabilitas yang diambil alih. Jika imbalan tersebutkurang dari nilai wajar aset neto entitas yangdiakuisisi, selisih tersebut diakui dalam laba rugisebagai keuntungan dari pembelian dengandiskon setelah sebelumnya manajemenmeninjau kembali identifikasi dan nilai wajar dariaset yang diperoleh dan liabilitas yang diambilalih.

At acquisition date, goodwill is initially measuredat cost being the excess of the aggregate of theconsideration transferred and the amountrecognized for NCI over the net identifiable assetsacquired and liabilities assumed. If thisconsideration is lower than the fair value of the netassets of the acquiree, the difference isrecognized in profit or loss as gain on bargainpurchase after revisiting the identification and fairvalue measurement of the acquired assets andthe assumed liabilities.

Setelah pengakuan awal, goodwill diukur padajumlah tercatat dikurangi akumulasi penyisihanpenurunan nilai. Untuk tujuan pengujianpenurunan nilai, goodwill yang diperoleh darisuatu kombinasi bisnis, sejak tanggal akuisisidialokasikan kepada setiap unit penghasil kas(“UPK”) dari Grup yang diharapkan akanmemberikan manfaat dari sinergi kombinasitersebut, terlepas dari apakah aset atauliabilitas lain dari pihak yang diakuisisiditetapkan atas UPK tersebut.

After initial recognition, goodwill is measured atcost less any accumulated allowance forimpairment. For the purpose of impairmenttesting, goodwill acquired in a businesscombination is, from the acquisition date,allocated to each of the Group’s cash-generatingunits (“CGU”) that are expected to benefit from thecombination, irrespective of whether other assetsor liabilities of the acquiree are assigned to thoseCGUs.











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d. Kombinasi bisnis (lanjutan) d. Business combination (continued)

Jika goodwill telah dialokasikan pada suatuUPK dan operasi tertentu atas UPK tersebutdihentikan, maka goodwill yang diasosiasikandengan operasi yang dihentikan tersebuttermasuk dalam jumlah tercatat operasitersebut ketika menentukan keuntungan ataukerugian dari pelepasan. Goodwill yangdilepaskan tersebut diukur berdasarkan nilairelatif operasi yang dihentikan dan porsi UPKyang ditahan.

Where goodwill forms part of a CGU and part ofthe operation within that CGU is disposed of, thegoodwill associated with the operation disposed ofis included in the carrying amount of the operationwhen determining the gain or loss on disposal ofthe operation. Goodwill disposed of in thiscircumstance is measured based on the relativevalues of the operation disposed of and theportion of the CGU retained.

e. Kombinasi bisnis entitas sepengendali e. Business combination of entities undercommon control

Kombinasi bisnis entitas sepengendali, berupapengalihan bisnis yang dilakukan dalam rangkareorganisasi entitas-entitas yang berada dalamsuatu kelompok usaha yang sama, bukanmerupakan perubahan kepemilikan dalam artisubstansi ekonomi, sehingga transaksi tersebuttidak dapat menimbulkan laba atau rugi bagikelompok usaha secara keseluruhan ataupunbagi entitas individual dalam kelompok usahatersebut. Oleh karena itu, transaksi tersebutdiakui pada jumlah tercatat berdasarkanmetode penyatuan kepemilikan. Laporankeuangan entitas yang bergabung disajikansedemikian rupa seolah-olah penggabungantersebut telah terjadi sejak awal periode entitasyang bergabung berada dalam sepengendalian.

Business combination of entities under commoncontrol, represents the transfer of business whichis carried out within the framework of reorganizingentities under the same group, does not constitutea change of ownership based on the economicsubstance of such transaction, hence it does notresult in gain or loss to the group as a whole or tothe individual entity within the group. Hence, suchtransaction is recognized at carrying amountusing the pooling-of-interests method. Thefinancial statements of the combined entities arepresented as if they had been combined from thebeginning of the period they were under commoncontrol.

Selisih antara imbalan yang diberikan/diterimadan jumlah tercatat bisnis yang diterima/dilepasdalam kombinasi bisnis entitas sepengendalidicatat pada akun tambahan modal disetordalam laporan posisi keuangan konsolidasian.

Difference between the considerationtransferred/received and the carrying amount ofthe acquired/disposed business in a businesscombination of entities under common control isrecorded in additional paid-in capital account inthe consolidated statement of financial position.

f. Kas dan setara kas f. Cash and cash equivalents

Kas dan setara kas terdiri dari kas, bank dandeposito berjangka yang jatuh tempo dalam3 (tiga) bulan atau kurang dari tanggalpenempatannya dan tidak digunakan sebagaijaminan atau dibatasi penggunaannya.

Cash and cash equivalents are cash on hand,cash in banks and time deposits with maturityperiods of 3 (three) months or less at the time ofplacement and which are not used as collateral ornot restricted.

Deposito berjangka dengan jangka waktu lebihdari 3 (tiga) bulan tapi tidak melebihi 1 (satu)tahun dari tanggal penempatannya disajikansebagai bagian dari “aset keuangan lancarlainnya”.

Time deposits with maturities of more than3 (three) months but not exceeding 1 (one) yearat the time of placement are presented as part of“other current financial assets”.











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f. Kas dan setara kas (lanjutan) f. Cash and cash equivalents (continued)

Kas dan setara kas yang dibatasipenggunaannya yang akan digunakan untukmembayar liabilitas yang akan jatuh tempodalam waktu 1 (satu) tahun disajikan sebagai“kas yang dibatasi penggunaannya” sebagaibagian dari ”aset keuangan lancar lainnya”. Kasdan setara kas yang dibatasi penggunaannyauntuk membayar liabilitas yang akan jatuhtempo dalam waktu lebih dari 1 (satu) tahundisajikan sebagai bagian dari “aset keuangantidak lancar lainnya”.

Cash and cash equivalents which are restrictedfor repayment of current maturing obligations arepresented as “restricted cash” under “othercurrent financial assets”. Cash and cashequivalents which are restricted for repayment ofobligations maturing after 1 (one) year arepresented as part of “other non-current financialassets”.

g. Instrumen keuangan g. Financial instruments

i. Aset keuangan i. Financial assets

Pengakuan awal Initial recognition

Aset keuangan diklasifikasikan sebagaiaset keuangan yang diukur pada nilai wajarmelalui laba rugi, pinjaman yang diberikandan piutang, investasi dimiliki hingga jatuhtempo, dan aset keuangan tersedia untukdijual, mana yang sesuai. Grupmenetapkan klasifikasi aset keuangansetelah pengakuan awal dan, jikadiperbolehkan dan sesuai, akan melakukanevaluasi atas klasifikasi ini pada setiaptanggal pelaporan.

Financial assets are classified as financialassets at fair value through profit or loss,loans and receivables, held-to-maturityinvestments, or available-for-sale financialassets, as appropriate. The Groupdetermines the classification of its financialassets after initial recognition and, whereallowed and appropriate, re-evaluates thisdesignation at each reporting date.

Aset keuangan Grup yang meliputi kas dansetara kas, piutang usaha, aset keuanganlancar lainnya, dan aset keuangan tidaklancar lainnya diklasifikasikan sebagaipinjaman yang diberikan dan piutang,sementara investasi pada saham denganpersentase kepemilikan di bawah 20%diklasifikasikan sebagai aset keuangantersedia untuk dijual.

The Group’s financial assets which includecash and cash equivalents, tradereceivables, other current financial assets,and other non-current financial assets areclassified as loans and receivables, whileinvestments in shares with percentage ofownership interest less than 20% areclassified as available-for-sale financialassets.

Pada tanggal 31 Desember 2019 dan2018, Grup tidak memiliki aset keuanganyang diukur pada nilai wajar melalui labarugi dan investasi dimiliki hingga jatuhtempo.

As of December 31, 2019 and 2018, theGroup does not have any financial assets atfair value through profit or loss and held-to-maturity investments.

Pada saat pengakuan awalnya, asetkeuangan diukur pada nilai wajar ditambahdengan biaya transaksi yang dapatdiatribusikan secara langsung.

When financial assets are recognized initially,they are measured at fair value plus directlyattributable transaction costs.











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g. Instrumen keuangan (lanjutan) g. Financial instruments (continued)

i. Aset keuangan (lanjutan) i. Financial assets (continued)

Pengakuan awal (lanjutan) Initial recognition (continued)

Pada saat pengakuan awalnya, asetkeuangan diukur pada nilai wajar ditambahdengan biaya transaksi yang dapatdiatribusikan secara langsung.

When financial assets are recognized initially,they are measured at fair value plus directlyattributable transaction costs.

Pengukuran setelah pengakuan awal Subsequent measurement

Pinjaman yang diberikan dan piutangadalah aset keuangan nonderivatif denganpembayaran tetap atau telah ditentukandan tidak memiliki kuotasi di pasar aktif.Setelah pengakuan awal, aset tersebutdicatat pada biaya perolehan yangdiamortisasi dengan menggunakan metodesuku bunga efektif (SBE) dan keuntunganatau kerugian terkait diakui dalam laba rugiketika aset tersebut mengalami penurunannilai atau melalui proses amortisasi. Aruskas terkait dengan pinjaman yang diberikandan piutang jangka pendek tidakdidiskontokan apabila efek diskonto tidakmaterial.

Loans and receivables are non-derivativefinancial assets with fixed or determinablepayments that are not quoted in an activemarket. After initial recognition, such assetsare carried at amortized cost using theeffective interest (EIR) method and therelated gains or losses are recognized inprofit or loss when the assets are impaired orthrough amortization process. Cash flowsrelating to short-term loans and receivablesare not discounted if the effect of discountingis immaterial.

Aset keuangan tersedia untuk dijual adalahaset keuangan nonderivatif yangditetapkan sebagai tersedia untuk dijualatau yang tidak diklasifikasikan dalam3 (tiga) kategori lainnya. Setelahpengukuran awal, aset keuangan tersediauntuk dijual diukur dengan nilai wajardengan keuntungan atau kerugian yangbelum terealisasi diakui dalam ekuitassampai aset tersebut dihentikanpengakuannya.

Available-for-sale financial assets are non-derivative financial assets that aredesignated as available-for-sale or are notclassified in any of the 3 (three) precedingcategories. After initial measurement,available-for-sale financial assets aremeasured at fair value with unrealized gainsor losses recognized in equity until the assetsare derecognized.

Penghentian pengakuan Derecognition

Penghentian pengakuan atas suatu asetkeuangan, atau, bila dapat diterapkanuntuk bagian dari aset keuangan ataubagian dari kelompok aset keuanganserupa, terjadi bila:

A financial asset, or, where applicable a partof a financial asset or part of a group of similarfinancial assets, is derecognized when:

i. hak kontraktual atas arus kas yangberasal dari aset keuangan tersebutberakhir; atau

i. the contractual rights to receive cashflows from the financial asset haveexpired; or











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Penghentian pengakuan (lanjutan) Derecognition (continued)

ii. Grup mentransfer hak kontraktualuntuk menerima arus kas yang berasaldari aset keuangan tersebut ataumenanggung kewajiban untukmembayar arus kas yang diterimatersebut tanpa penundaan yangsignifikan kepada pihak ketiga melaluisuatu kesepakatan penyerahan danapabila (a) secara substansialmentransfer seluruh risiko danmanfaat atas kepemilikan asetkeuangan tersebut, atau (b) secarasubstansial tidak mentransfer dantidak mempertahankan seluruh risikodan manfaat atas kepemilikan asetkeuangan tersebut, namun telahmentransfer pengendalian atas asetkeuangan tersebut.

ii. The Group has transferred itscontractual rights to receive cash flowsfrom the financial asset or has assumedan obligation to pay them in full withoutmaterial delay to a third party under a“pass-through” arrangement and either(a) has transferred substantially all therisks and rewards of the financial asset,or (b) has neither transferred norretained substantially all the risks andrewards of the financial asset, but hastransferred control of the financial asset.

Apabila Grup mentransfer hak untukmenerima arus kas yang berasal dari asetkeuangan atau mengadakan kesepakatanpenyerahan, atau tidak mentransfermaupun tidak mempertahankan secarasubstansial seluruh risiko dan manfaat atasaset keuangan tersebut namun telahmentransfer pengendalian atas asetkeuangan tersebut, maka suatu asetkeuangan baru diakui oleh Grup sebesarketerlibatannya yang berkelanjutan denganaset keuangan tersebut.

Where the Group has transferred its rights toreceive cash flows from a financial asset orhas entered into a pass-througharrangement, or has neither transferred norretained substantially all the risks andrewards of the financial asset but hastransferred control of the financial asset, anew financial asset is recognized to theextent of the Group’s continuing involvementin the asset.

Pada saat penghentian pengakuan atasaset keuangan secara keseluruhan, makaselisih antara nilai tercatat dan jumlah dari(i) pembayaran yang diterima, termasukaset baru yang diperoleh dikurangi denganliabilitas baru yang ditanggung; dan(ii) keuntungan atau kerugian kumulatifyang telah diakui secara langsung dalamekuitas, harus diakui dalam laba rugi.

On derecognition of a financial asset in itsentirety, the difference between the carryingamount and the sum of (i) the considerationreceived, including any new asset obtainedless any new liability assumed; and (ii) anycumulative gain or loss that has beenrecognized directly in equity, is recognized inprofit or loss.











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Penurunan nilai Impairment

Pada setiap tanggal pelaporan, Grupmengevaluasi apakah terdapat bukti yangobyektif bahwa aset keuangan ataukelompok aset keuangan mengalamipenurunan nilai. Penurunan nilai atas asetkeuangan atau kelompok aset keuangandianggap telah terjadi, jika dan hanya jika,terdapat bukti yang obyektif mengenaipenurunan nilai sebagai akibat dari satuatau lebih peristiwa yang terjadi setelahpengakuan awal aset tersebut (“peristiwakerugian”), dan peristiwa kerugian tersebutberdampak pada estimasi arus kas masadepan aset keuangan atau kelompok asetkeuangan yang dapat diestimasi secaraandal.

The Group assesses at each reporting datewhether there is any objective evidence thata financial asset or a group of financial assetsis impaired. A financial asset or a group offinancial assets is deemed to be impaired if,and only if, there is an objective evidence ofimpairment as a result of one or more eventsthat has occurred after the initial recognitionof the asset (an incurred “loss event”) andthat loss event has an impact on theestimated future cash flows of the financialasset or the group of financial assets that canbe reliably estimated.

Bukti penurunan nilai dapat meliputiindikasi pihak peminjam atau kelompokpeminjam mengalami kesulitan keuangansignifikan, wanprestasi atau tunggakanpembayaran bunga atau pokok, terdapatkemungkinan bahwa pihak peminjam akandinyatakan pailit atau melakukanreorganisasi keuangan lainnya, dan padasaat data yang dapat diobservasimengindikasikan adanya penurunan yangdapat diukur atas estimasi arus kas masadepan, seperti meningkatnya tunggakanatau kondisi ekonomi yang berkorelasidengan wanprestasi.

Evidence of impairment may includeindications that the debtors or a group ofdebtors are experiencing significant financialdifficulty, default or delinquency in interest orprincipal payments, the probability that theywill enter bankruptcy or other financialreorganization, and when observable dataindicate that there is a measurable decreasein the estimated future cash flows, such aschanges in arrears or economic conditionsthat correlate with defaults.

Untuk pinjaman yang diberikan dan piutangyang dicatat pada biaya perolehan yangdiamortisasi, Grup pertama kali secaraindividual menentukan bahwa terdapatbukti obyektif mengenai penurunan nilaiatas aset keuangan yang signifikan secaraindividual, atau secara kolektif untuk asetkeuangan yang tidak signifikan secaraindividual. Jika Grup menentukan tidakterdapat bukti obyektif mengenaipenurunan nilai atas aset keuangan yangdinilai secara individual, terlepas asetkeuangan tersebut signifikan atau tidak,maka Grup memasukkan aset tersebut kedalam kelompok aset keuangan yangmemiliki karakteristik risiko kredit yangsejenis dan menilai penurunan nilaikelompok tersebut secara kolektif. Asetyang penurunan nilainya dinilai secaraindividual dan untuk itu kerugianpenurunan nilai diakui atau tetap diakui,tidak termasuk dalam penilaian ataupenurunan nilai secara kolektif.

For loans and receivables carried atamortized cost, the Group first assessesindividually whether objective evidence ofimpairment exists individually for financialassets that are individually significant, orcollectively for financial assets that are notindividually significant. If the Groupdetermines that no objective evidence ofimpairment exists for an individuallyassessed financial asset, whether significantor not, it includes the asset in a group offinancial assets with similar credit riskcharacteristics and collectively assessesthem for impairment. Assets that areindividually assessed for impairment and forwhich an impairment loss is, or continues tobe, recognized are not included in a collectiveassessment or impairment.











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Penurunan nilai (lanjutan) Impairment (continued)

Jika terdapat bukti obyektif bahwa kerugianpenurunan nilai telah terjadi, maka jumlahkerugian tersebut diukur berdasarkanselisih antara nilai tercatat aset dengannilai kini estimasi arus kas masa depan(tidak termasuk ekspektasi kerugian kreditmasa depan yang belum terjadi). Nilai kiniestimasi arus kas masa depan didiskontomenggunakan SBE awal dari asetkeuangan tersebut. Jika pinjaman yangdiberikan atau piutang memiliki suku bungavariabel, tingkat diskonto untuk mengukurkerugian penurunan nilai adalah SBEterkini.

When there is objective evidence that animpairment loss has occurred, the amount ofthe loss is measured as the differencebetween the asset’s carrying amount and thepresent value of estimated future cash flows(excluding future expected credit losses thathave not been incurred). The present value ofthe estimated future cash flows is discountedat the financial asset’s original EIR. If a loanor receivable has a variable interest rate, thediscount rate for measuring impairment lossis the current EIR.

Nilai tercatat aset keuangan dikurangimelalui penggunaan akun penyisihan danjumlah kerugian tersebut diakui secaralangsung dalam laba rugi. Pendapatanbunga terus diakui atas nilai tercatat yangtelah dikurangi tersebut berdasarkan sukubunga yang digunakan untukmendiskontokan arus kas masa depandengan tujuan untuk mengukur kerugianpenurunan nilai. Pinjaman yang diberikandan piutang beserta dengan penyisihanterkait dihapuskan jika tidak terdapatkemungkinan yang realistis atas pemulihandi masa mendatang dan seluruh agunan,jika ada, sudah direalisasi atau ditransferkepada Grup.

The carrying amount of the asset is reducedthrough the use of an allowance account andthe amount of the loss is directly recognizedin profit or loss. Interest income continues tobe accrued on the reduced carrying amountbased on the rate of interest used to discountfuture cash flows for the purpose ofmeasuring impairment loss. Loans andreceivables, together with the associatedallowance are written off when there is norealistic prospect of future recovery and allcollateral, if any, has been realized or hasbeen transferred to the Group.

Ketika penurunan nilai wajar asetkeuangan tersedia untuk dijual telah diakuidalam ekuitas dan terdapat bukti obyektifbahwa aset tersebut mengalami penurunannilai, maka kerugian kumulatif yangsebelumnya diakui dalam ekuitas harusdikeluarkan dari ekuitas dan diakui dalamlaba rugi meskipun aset keuangan tersebutbelum dihentikan pengakuannya. Jumlahkerugian kumulatif yang dikeluarkan dariekuitas dan diakui dalam laba rugimerupakan selisih antara biaya perolehandengan nilai wajar kini, dikurangi kerugianpenurunan nilai aset keuangan yangsebelumnya telah diakui dalam laba rugi.

When a decline in the fair value of anavailable-for-sale financial asset has beenrecognized in equity and there is objectiveevidence that the assets are impaired, thecumulative loss that had been recognized inequity will be reclassified from equity to profitor loss even though the financial asset hasnot been derecognized. The amount of thecumulative loss that is reclassified fromequity to profit or loss is the differencebetween the acquisition cost and the currentfair value, less any impairment loss on thatfinancial asset previously recognized in profitor loss.











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Penurunan nilai (lanjutan) Impairment (continued)

Jika, dalam periode pelaporan berikutnya,nilai estimasi kerugian penurunan nilai asetkeuangan bertambah atau berkurang yangdikarenakan peristiwa yang terjadi setelahpenurunan nilai diakui, maka kerugianpenurunan nilai yang sebelumnya diakuiditambahkan atau dikurangi (dipulihkan)dengan menyesuaikan akun penyisihan.Pemulihan tersebut tidak bolehmengakibatkan nilai tercatat asetkeuangan melebihi biaya perolehan yangdiamortisasi yang seharusnya jikapenurunan nilai tidak diakui pada tanggalpemulihan dilakukan. Jika penghapusannantinya terpulihkan, jumlah pemulihanaset keuangan diakui dalam laba rugi.

If, in the subsequent reporting period, theamount of the estimated impairment lossincreases or decreases because of eventoccurring after the impairment wasrecognized, the previously recognizedimpairment loss is increased or reduced byadjusting the allowance account. Thereversal shall not result in a carrying amountof the financial asset that exceeds what theamortized cost would have been had theimpairment not been recognized at the datethe impairment is reversed. If a future write-off is later recovered, the recovery isrecognized in profit or loss.

ii. Liabilitas keuangan ii. Financial liabilities

Pengakuan awal Initial recognition

Liabilitas keuangan diklasifikasikansebagai liabilitas keuangan yang diukurpada nilai wajar melalui laba rugi, utangdan pinjaman, atau derivatif yangditetapkan sebagai instrumen lindung nilaidalam lindung nilai yang efektif, mana yangsesuai. Grup menetapkan klasifikasi atasliabilitas keuangan pada saat pengakuanawal.

Financial liabilities are classified as financialliabilities at fair value through profit or loss,loans and borrowings, or derivativesdesignated as hedging instruments in aneffective hedge, as appropriate. The Groupdetermines the classification of its financialliabilities at initial recognition.

Liabilitas keuangan Grup yang meliputipinjaman bank jangka pendek, utangusaha, liabilitas jangka pendek lainnya -utang lain-lain dan titipan pelanggan,beban akrual, utang pihak berelasi danpinjaman bank jangka panjangdiklasifikasikan sebagai utang danpinjaman.

The Group’s financial liabilities which includeshort-term bank loans, trade payables, othercurrent liabilities - other payables andcustomer deposits, accrued expenses, due torelated parties and long-term bank loans areclassified as loans and borrowings.

Pada tanggal 31 Desember 2019 dan2018, Grup tidak memiliki liabilitaskeuangan yang diukur pada nilai wajarmelalui laba rugi dan derivatif yangditerapkan sebagai instrumen lindung nilaidalam lindung nilai yang efektif.

As of December 31, 2019 and 2018, theGroup does not have any financial liabilitiesat fair value through profit or loss andderivatives designated as hedginginstruments in an effective hedge.

Pada saat pengakuan awalnya, liabilitaskeuangan diukur pada nilai wajar dikurangidengan biaya transaksi yang dapatdiatribusikan secara langsung.

When financial liabilities are recognizedinitially, they are measured at fair value lessdirectly attributable transaction costs.











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ii. Liabilitas keuangan (lanjutan) ii. Financial liabilities (continued)

Pengukuran setelah pengakuan awal Subsequent measurement

Setelah pengakuan awal, utang danpinjaman diukur pada biaya perolehanyang diamortisasi dengan menggunakanmetode SBE dan keuntungan ataukerugian terkait diakui dalam laba rugimelalui proses amortisasi. Biaya perolehanyang diamortisasi diukur denganmenggunakan metode SBE dikurangipenyisihan penurunan nilai danpembayaran atau pengurangan pokok.Perhitungan ini mencakup seluruh premiatau diskonto pada saat perolehan danmencakup biaya transaksi serta komisiyang merupakan bagian tak terpisahkandari SBE. Arus kas terkait dengan pinjamandan utang jangka pendek tidakdidiskontokan apabila efek diskonto tidakmaterial.

Subsequent to initial recognition, loans andborrowings are measured at amortized costsusing the EIR method and the related gainsand losses are recognized in profit or lossthrough amortization process. Amortized costis computed using the EIR method less anyallowance for impairment and principalrepayment or reduction. The calculationtakes into account any premium or discounton acquisition and includes transaction costsand fees that are an integral part of the EIR.Cash flows relating to short-term loans andborrowings are not discounted if the effect ofdiscounting is immaterial.

Penghentian pengakuan Derecognition

Suatu liabilitas keuangan dihentikanpengakuannya pada saat kewajiban yangditetapkan dalam kontrak dihentikan,dibatalkan atau kadaluwarsa.

A financial liability is derecognized when theobligation under the contract is discharged,cancelled or expired.

Ketika suatu liabilitas keuangan ditukardengan liabilitas keuangan lain daripemberi pinjaman yang sama ataspersyaratan yang secara substansialberbeda, atau bila persyaratan dariliabilitas keuangan tersebut dimodifikasisecara substansial, pertukaran ataumodifikasi persyaratan tersebut dicatatsebagai penghentian pengakuan liabilitaskeuangan awal dan pengakuan liabilitaskeuangan baru, dan selisih antara nilaitercatat masing-masing liabilitas keuangantersebut diakui dalam laba rugi.

When an existing financial liability is replacedby another from the same lender onsubstantially different terms, or the terms ofan existing liability are substantially modified,such an exchange or modification is treatedas derecognition of the original liability andthe recognition of a new liability, and thedifference in the respective carrying amountsis recognized in profit or loss.











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iii. Saling hapus instrumen keuangan iii. Offsetting of financial instruments

Aset keuangan dan liabilitas keuangansaling hapus dan nilai netonya disajikandalam laporan posisi keuangankonsolidasian jika, dan hanya jika, terdapathak yang berkekuatan hukum untukmelakukan saling hapus atas jumlah yangtelah diakui dari aset keuangan danliabilitas keuangan tersebut dan terdapatintensi untuk menyelesaikan denganmenggunakan dasar neto, atau untukmerealisasikan aset dan menyelesaikanliabilitasnya secara bersamaan.

Financial assets and financial liabilities areoffset and the net amount reported in theconsolidated statement of financial position if,and only if, there is a currently enforceablelegal right to offset the recognized amountsand there is an intention to settle on a netbasis, or to realize the assets and settle theliabilities simultaneously.

iv. Nilai wajar instrumen keuangan iv. Fair value of financial instruments

Nilai wajar instrumen keuangan yang tidakdiperdagangkan di pasar aktif ditentukandengan menggunakan teknik penilaian.Teknik penilaian tersebut meliputipenggunaan transaksi pasar terkini yangdilakukan secara wajar oleh pihak-pihakyang berkeinginan dan memahami (recentarm’s-length market transaction), referensiatas nilai wajar terkini dari instrumen lainyang secara substansial sama, analisisarus kas yang didiskonto, atau modelpenilaian lainnya.

The fair value of financial instruments that arenot traded in active markets is determinedusing valuation techniques. Such techniquesmay include using recent arm’s-length markettransaction, reference to the current fair valueof another instrument that is substantially thesame, discounted cash flow analysis, or othervaluation models.

h. Persediaan h. Inventories

Persediaan dinyatakan sebesar nilai terendahantara biaya perolehan atau nilai realisasi neto.Biaya perolehan ditentukan dengan metoderata-rata tertimbang dan termasuk semuapengeluaran untuk memperoleh persediaan,biaya produksi atau konversi, dan biaya lainnyayang timbul untuk membawa persediaan ketempat dan kondisi saat ini. Biaya tersebut tidaktermasuk biaya pinjaman. Nilai realisasi netoadalah estimasi harga penjualan dalamkegiatan usaha normal dikurangi dengan biayapenyelesaian dan penjualannya.

Inventories are stated at the lower of cost or netrealizable value. Cost is determined using theweighted average cost method and includesexpenditure incurred in acquiring the inventories,production or conversion costs and other costsincurred in bringing the inventory to its existinglocation and condition. It excludes borrowingcosts. Net realizable value is the estimated salesamount in the ordinary course of business less thecosts of completion and selling expenses.

Penyisihan persediaan usang dibentuk untukmengurangi jumlah tercatat persediaan ke nilairealisasi netonya yang ditentukan melaluipengujian berkala atas estimasi penggunaanatau penjualan masing-masing jenis persediaandi masa yang akan datang.

Allowance for inventory obsolescence is providedto reduce the carrying amount of inventories totheir net realizable value based on the periodicreview of the estimated future usage or sale ofindividual inventory items.











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i. Transaksi dengan pihak-pihak berelasi i. Transactions with related parties

Grup mempunyai transaksi dengan pihakberelasi sebagaimana didefinisikan pada PSAKNo. 7 (Penyesuaian 2015) “PengungkapanPihak-pihak Berelasi”.

The Group has transactions with related partiesas defined in PSAK No. 7 (Improvement 2015),“Related Party Disclosures”.

Transaksi ini dilakukan berdasarkanpersyaratan yang disetujui oleh kedua belahpihak, dimana persyaratan tersebut mungkintidak sama dengan transaksi lain yangdilakukan dengan pihak-pihak yang tidakberelasi.

The transactions are made based on termsagreed by the parties, in which such terms maynot be the same as those of the transactionsbetween unrelated parties.

Saldo dan transaksi signifikan dengan pihak-pihak berelasi diungkapkan dalam Catatan 30.

All significant balances and transactions withrelated parties are disclosed in Note 30.

j. Aset tetap j. Fixed assets

Seluruh aset tetap awalnya diakui sebesarbiaya perolehan, yang terdiri atas hargaperolehan dan biaya-biaya tambahan yangdapat di atribusikan langsung untuk membawaaset ke lokasi dan kondisi yang diinginkansupaya aset tersebut siap digunakan sesuaidengan maksud manajemen.

All fixed assets are initially recognized at cost,which comprises the purchase price and anycosts directly attributable in bringing the assets tothe location and condition necessary for theassets to be capable of operating in the mannerintended by management.

Aset tetap dinyatakan sebesar biaya perolehandikurangi dengan akumulasi penyusutan danpenyisihan penurunan nilai. Tanah tidakdisusutkan. Termasuk juga ke dalam biayaperolehan adalah biaya-biaya penggantianbagian dari aset tetap jika biaya itu terjadi, danapabila terdapat kemungkinan yang besarbahwa Grup akan mendapat manfaat ekonomisdi masa depan dari bagian aset tersebut sertabiaya perolehannya dapat diukur secara andal.Demikian pula, pada saat inspeksi yangsignifikan dilakukan, biaya inspeksi itu diakui kedalam jumlah tercatat (carrying amount) asettetap sebagai suatu penggantian jika memenuhikriteria pengakuan. Semua biaya pemeliharaandan perbaikan yang tidak memenuhi kriteriapengakuan diakui dalam laba rugi pada saatterjadinya.

Fixed assets are stated at cost less accumulateddepreciation and allowance for impairment. Landis not depreciated. The cost includes the cost ofreplacing part of the fixed assets when that cost isincurred, only when it is probable that futureeconomic benefits associated with the item willflow to the Group and the cost of the item can bemeasured reliably. Likewise, when a majorinspection is performed, its cost is recognized inthe carrying amount of the fixed assets as areplacement if the recognition criteria aresatisfied. All other repairs and maintenance coststhat do not meet the recognition criteria arerecognized in profit or loss as incurred.

Biaya legal awal yang terjadi untuk memperolehhak atas tanah diakui sebagai bagian dari biayaakuisisi.

Initial legal costs incurred to obtain legal rights ofland are recognized as part of the acquisitioncosts.











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j. Aset tetap (lanjutan) j. Fixed assets (continued)

Penyusutan dihitung dengan menggunakanmetode garis lurus selama estimasi masamanfaat aset tetap yang bersangkutan yaitusebagai berikut:

Depreciation is calculated using the straight-linemethod over the estimated useful lifes of theassets as follows:

Tahun/Year

Bangunan, prasarana dan instalasi 4-20 Buildings, improvements and installationsMesin dan peralatan 2-10 Machinery and equipmentPerabotan dan perlengkapan kantor 2-5 Office furniture, fixtures and equipmentAlat transportasi 2-5 Transportation equipmentKonstruksi baja 10 Steel constructions

Aset dalam penyelesaian merupakan biaya-biaya yang berhubungan langsung denganpembangunan dan akuisisi aset tetap, termasukbiaya pendanaan, jika ada. Biaya-biayatersebut akan dipindahkan ke aset tetap yangbersangkutan pada saat pembangunannyatelah selesai. Penyusutan mulai dibebankanpada saat aset tersebut siap digunakan.

Construction in progress represents costs directlyattributable to the construction and acquisition offixed assets, including financial costs, if any.These costs are transferred to the relevant assetaccount when the construction is complete.Depreciation is charged from the date the assetsare ready for use.

Jumlah tercatat aset tetap dihentikanpengakuannya pada saat dilepaskan atau saattidak ada manfaat ekonomis di masa depanyang diharapkan dari penggunaan ataupelepasannya. Laba atau rugi yang timbul daripenghentian pengakuan aset, yang merupakanperbedaan antara jumlah neto hasil pelepasandengan jumlah tercatatnya, disajikan dalamlaba rugi.

An item of fixed asset is derecognized upondisposal or when no future economic benefits areexpected from its use or disposal. Any gain or lossarising from derecognition of the asset, calculatedas the difference between the net disposalproceeds and the carrying amount of the asset, isincluded in profit or loss.

Nilai residu, umur manfaat dan metodepenyusutan ditinjau ulang dan, jika diperlukan,akan disesuaikan secara prospektif pada setiaptanggal pelaporan.

The residual values, useful lifes and methods ofdepreciation are reviewed, and adjustedprospectively, if appropriate, at each reportingdate.

k. Aset takberwujud k. Intangible assets

Biaya terkait dengan pembaruan hak atas tanahdiakui sebagai aset takberwujud dandiamortisasi sepanjang umur hukum hak yangberkisar antara 20 (dua puluh) sampai30 (tiga puluh) tahun.

Cost related to renewal of land rights arerecognized as intangible assets and amortizedduring the period of the land rights which areranging from 20 (twenty) to 30 (thirty) years.

Biaya yang terkait dengan pemeliharaanprogram piranti lunak komputer diakui sebagaibeban pada saat terjadinya. Biaya perolehanatau pengembangan yang dapat secaralangsung diatribusikan kepada desain danpengujian produk piranti lunak diakui sebagaiaset takberwujud.

Costs associated with maintaining computersoftware programs are recognized as an expenseas incurred. Acquisition and development coststhat are directly attributable to the design andtesting of software products are recognized asintangible assets.











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k. Aset takberwujud (lanjutan) k. Intangible assets (continued)

Biaya-biaya yang dapat diatribusikan secaralangsung dan dikapitalisasi sebagai bagian dariproduk piranti lunak mencakup beban pekerjapengembang piranti lunak dan overhead yangrelevan.

Directly attributable costs that are capitalized aspart of the software product include the softwaredevelopment employee costs and an appropriateportion of the relevant overheads.

Biaya perolehan dan pengembangan pirantilunak diamortisasi dengan menggunakanmetode garis lurus selama 2 (dua) tahun.

The acquisition and development costs isamortized using the straight-line method over2 (two) years.

l. Sewa l. Lease

Penentuan apakah suatu perjanjianmerupakan, atau mengandung, sewa dibuatberdasarkan substansi perjanjian itu sendiri danpenilaian apakah pemenuhan atas perjanjianbergantung dari penggunaan aset tertentu atauaset, dan apakah perjanjian memberikan hakuntuk menggunakan aset.

Determination whether an arrangement is, orcontains, a lease is made based on the substanceof the arrangement and assessment of whetherfulfilment of the arrangement is dependent on theuse of a specific asset or assets, and whether thearrangement conveys a right to use the asset.

Sewa yang secara substansial mengalihkanseluruh risiko dan manfaat yang terkait dengankepemilikan aset, diklasifikasikan sebagai sewapembiayaan. Sedangkan suatu sewadiklasifikasikan sebagai sewa operasi, jika sewatidak mengalihkan secara substansial seluruhrisiko dan manfaat yang terkait dengankepemilikan aset tersebut.

Leases that transfer substantially to the lessee allthe risks and rewards incidental to ownership ofthe leased item are classified as finance leases.Leases which do not transfer substantially all therisks and rewards incidental to ownership of theleased item are classified as operating leases.

Grup terlibat dalam transaksi sewa sebagaipihak yang menyewakan.

The Group is involved in lease transactions as thelessor.

Dalam sewa pembiayaan, Grup tidak mengakuiaset yang disewakan dalam laporan posisikeuangan konsolidasian dan menyajikannyasebagai piutang sewa pembiayaan sebesarjumlah yang sama dengan investasi sewa neto.Penerimaan piutang sewa diperlakukansebagai pembayaran pokok dan pendapatanpembiayaan. Pengakuan pendapatanpembiayaan ditetapkan berdasarkan suatu polatertentu yang mencerminkan tingkatpengembalian periodik yang konstan atasinvestasi neto Grup dalam sewa pembiayaantersebut.

Under a finance lease, the Group derecognizesassets held under a finance lease in itsconsolidated statement of financial position andpresents them as a finance lease receivable at anamount equal to the net investment in the lease.Receipt of a lease receivable is treated asrepayment of principal and finance income. Therecognition of finance income shall be based on apattern reflecting a constant periodic rate of returnon the Group’s net investment in the financelease.











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l. Sewa (lanjutan) l. Lease (continued)

Dalam sewa operasi, Grup tetap mengakui asetyang disewakan dalam laporan posisikeuangan konsolidasian sesuai dengan sifatdari aset tersebut. Biaya langsung awalsehubungan proses negosiasi sewa operasiditambahkan ke jumlah tercatat aset yangdisewakan dan diakui sebagai pendapatanselama masa sewa aset yang bersangkutan.Sewa kontinjen, jika ada, diakui sebagaipendapatan pada tahun terjadinya.Penghasilan sewa operasi diakui sebagaipendapatan dengan menggunakan metodegaris lurus sepanjang masa sewanya.

Under an operating lease, the Group presentsassets subject to operating leases in theconsolidated statement of financial positionaccording to the nature of the asset. Initial directcosts incurred in negotiating an operating leaseare added to the carrying amount of the leasedasset and recognized over the lease term on thesame basis as rental income. Contingent rents, ifany, are recognized as revenue in the years inwhich they are earned. Lease income fromoperating leases is recognized as income on astraight-line basis over the lease term.

m. Properti investasi m. Investment property

Properti investasi terdiri dari tanah, bangunanprasarana dan instalasi, yang dikuasai Grupuntuk disewakan atau untuk mendapatkankeuntungan dari kenaikan nilai atau kedua-duanya dan tidak untuk digunakan dalamproduksi atau penyediaan barang atau jasaatau untuk tujuan administratif atau dijual dalamkegiatan usaha normal. Properti investasidinyatakan sebesar biaya perolehan termasukpengeluaran yang dapat diatribusikan secaralangsung untuk perolehan properti investasi.

Investment property consists of land, buildings,facilities and installations, which are held by theGroup to earn rentals or for capital appreciation orboth, rather than for use in the production orsupply of goods or services or for administrativepurposes or sale in the ordinary course ofbusiness. Investment property is stated at cost,including expenditure that is directly attributable toacquisition of the investment property.

Selanjutnya, properti investasi diukurberdasarkan biaya perolehan dikurangiakumulasi penyusutan (kecuali tanah yangtidak disusutkan) dan penyisihan penurunannilai. Jumlah tercatat termasuk bagian biayapenggantian properti investasi yang ada padasaat terjadinya biaya, jika kriteria pengakuanterpenuhi dan tidak termasuk biaya harianpenggunaan properti investasi. Nilai wajarproperti investasi ditentukan berdasarkanacuan harga pasar untuk properti sejenis.

Investment property is subsequently measured atcost less accumulated depreciation (except forland which is not depreciated) and allowance forimpairment. The carrying amount includes thecost of replacing part of an existing investmentproperty at the time that cost is incurred if therecognition criteria are met and excludes the costsof day to day servicing of an investment property.Fair value of the investment property isdetermined with reference to market value for thesame type of property.

Penyusutan bangunan, prasarana dan instalasidihitung dengan menggunakan metode garislurus selama estimasi umur manfaat asetantara 4 (empat) sampai 20 (dua puluh) tahun.

Depreciation of buildings, facilities andinstallations are calculated using the straight-linemethod based on the estimated useful lifes of theassets between 4 (four) and 20 (twenty) years.

Properti investasi dihentikan pengakuannyapada saat pelepasan atau ketika propertiinvestasi tersebut tidak digunakan lagi secarapermanen dan tidak memiliki manfaat ekonomisdi masa depan yang dapat diharapkan padasaat pelepasannya. Laba atau rugi yang timbuldari penghentian pengakuan atau pelepasanproperti investasi diakui dalam laba rugi padasaat terjadinya penghentian atau pelepasantersebut.

Investment property is derecognized either whenit has been disposed of or when the investmentproperty is permanently withdrawn from use andno future benefit is expected from its disposal. Anygains or losses on the derecognition or disposalof an investment property are recognized in profitor loss on the date of derecognition or disposal.











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m. Properti investasi (lanjutan) m. Investment property (continued)

Transfer ke properti investasi dilakukan jika,dan hanya jika, terdapat perubahanpenggunaan yang ditunjukkan denganberakhirnya pemakaian oleh pemilik,dimulainya sewa operasi ke pihak lain atauselesainya pembangunan atau pengembangan.Transfer dari properti investasi dilakukan jikadan hanya jika terdapat perubahanpenggunaan yang ditunjukkan dengandimulainya penggunaan oleh pemilik ataudimulainya pengembangan yang bertujuanuntuk dijual.

Transfers to investment property are made when,and only when, there is a change in use,evidenced by the end of owner occupation,commencement of an operating lease to anotherparty or completion of construction ordevelopment. Transfers from investment propertyare made when, and only when, there is a changein use, evidenced by commencement of owneroccupation or commencement of developmentwith a view to sale.

Untuk transfer dari properti investasi ke asetyang digunakan dalam operasi, Grupmenggunakan metode biaya pada tanggalperubahan penggunaan. Jika aset yangdigunakan Grup menjadi properti investasi,Grup mencatat aset tersebut sesuai dengankebijakan aset tetap sampai dengan tanggalterakhir perubahan penggunaannya.

For a transfer from investment property to anasset used in operations, the Group uses the costmethod at the date of change in use. If the assetused by the Group becomes an investmentproperty, the Group accounts for the asset inaccordance with the policy stated under fixedassets up to the date of change in use.

n. Penurunan nilai aset nonkeuangan n. Impairment of non-financial assets

Aset yang memiliki umur manfaat tidakterbatas, sebagai contoh goodwill atau asettakberwujud yang belum siap digunakan, tidakdiamortisasi dan dilakukan pengujianpenurunan nilai secara tahunan, atau lebihsering apabila terdapat peristiwa atauperubahan pada kondisi yang mengindikasikankemungkinan penurunan nilai.

Assets that have an indefinite useful life - forexample, goodwill or intangible assets not readyfor use - are not subject to amortization and aretested annually for impairment, or more frequentlyif events or changes in circumstances indicatethat they might be impaired.

Aset yang diamortisasi atau disusutkan ditinjauulang ketika terdapat indikasi bahwa jumlahtercatatnya mungkin tidak dapat dipulihkan.Penurunan nilai diakui jika jumlah tercatat asetmelebihi jumlah terpulihkan. Jumlah terpulihkanadalah nilai yang lebih tinggi antara nilai wajaraset dikurangi biaya untuk menjual dan nilaipakai aset. Dalam menentukan penurunan nilai,aset dikelompokkan sampai tingkat yang palingrendah dimana arus kasnya dapat diidentifikasi(“UPK”). Aset nonkeuangan selain goodwillyang mengalami penurunan nilai ditinjau ulangpada setiap tanggal pelaporan untukmenentukan apakah terdapat kemungkinanpemulihan penurunan nilai.

Assets that are subject to amortization ordepreciation are reviewed for impairmentwhenever events or changes in circumstancesindicate that the carrying amount may not berecoverable. An impairment loss is recognized forthe amount by which the asset’s carrying amountexceeds its recoverable amount. The recoverableamount is the higher of an asset’s fair value lesscosts to sell and value in use. For the purposes ofassessing impairment, assets are grouped at thelowest levels for which there are separatelyidentifiable cash flows (“CGU”). Non-financialassets other than goodwill that suffer animpairment are reviewed for possible reversal ofthe impairment at each reporting date.











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n. Penurunan nilai aset nonkeuangan(lanjutan)

n. Impairment of non-financial assets(continued)

Pemulihan kerugian penurunan nilai untuk asetselain goodwill, diakui jika, terdapat perubahanestimasi yang digunakan dalam menentukanjumlah terpulihkan aset sejak peninjauan ulangpenurunan nilai yang terakhir. Pembalikankerugian penurunan nilai tersebut diakui segeradalam laba rugi, kecuali untuk aset yangdisajikan pada jumlah revaluasian yang diaturPSAK lain. Kerugian penurunan nilai yangdiakui atas goodwill tidak dibalik kembali.

Reversal on impairment loss for assets other thangoodwill would be recognized if there had been achange in the estimates used to determine theasset’s recoverable amount since the lastimpairment test was carried out. Reversal onimpairment loss will be immediately recognized inprofit or loss, except for assets measured usingthe revaluation model as required by other PSAK.Impairment loss relating to goodwill would not bereversed.

o. Biaya pinjaman o. Borrowing costs

Biaya pinjaman yang terjadi untuk konstruksiaset kualifikasian, dikapitalisasi selama waktuyang dibutuhkan untuk menyelesaikankonstruksi. Untuk pinjaman yang dapatdiatribusikan secara langsung pada suatu asetkualifikasian, jumlah yang dikapitalisasi adalahsebesar biaya pinjaman yang terjadi selamatahun berjalan dikurangi pendapatan investasijangka pendek dari pinjaman tersebut. Untukpinjaman yang tidak dapat diatribusi secaralangsung pada suatu aset kualifikasian, jumlahbiaya pinjaman yang dikapitalisasi ditentukandengan mengalikan tingkat kapitalisasi denganpengeluaran untuk aset kualifikasian. Tingkatkapitalisasi adalah rata-rata tertimbang biayapinjaman dibagi dengan jumlah pinjamanselama tahun tertentu, tidak termasuk pinjamanyang dapat diatribusikan secara langsung untukmembiayai aset kualifikasian.

Borrowing cost for a qualifiying asset should becapitalized over the asset construction years. Forborrowings directly attributable to a qualifyingasset, the amount to be capitalized is determinedas the actual borrowing costs incurred during theyear, less any income earned on the temporaryinvestment of such borrowings. For borrowingsthat are not directly attributable to a qualifyingasset, the amount to be capitalized is determinedby applying a capitalization rate to the amountexpended on the qualifying asset. Thecapitalization rate is the weighted-average of theborrowing costs applicable to the total borrowingsoutstanding during the year, excluding borrowingsdirectly attributable to finance the qualifying asset.

p. Provisi p. Provision

Provisi diakui jika, sebagai akibat peristiwamasa lalu, Grup memiliki kewajiban kini, baikbersifat hukum maupun bersifat konstruktif yangdapat diukur secara andal dan kemungkinanbesar penyelesaian kewajiban tersebutmengakibatkan arus keluar sumber daya yangmengandung manfaat ekonomi. Jika dampaknilai waktu uang cukup material, maka provisidinyatakan pada estimasi nilai kini dari jumlahkewajiban yang harus diselesaikan.

A provision is recognized if, as a result of a pastevent, the Group has a present legal orconstructive obligation that can be estimatedreliably, and it is probable that an outflow ofeconomic benefits will be required to settle theobligation. Where the time value of money ismaterial, provision is stated at the present valueof the expenditure expected to be required tosettle the obligation.











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q. Pengakuan pendapatan dan beban q. Revenues and expenses recognition

i. Penjualan barang i. Sales of goods

Pendapatan dari penjualan barang dalamkegiatan usaha normal Grup diukur padanilai wajar imbalan yang diterima atau akanditerima, setelah dikurangi PajakPertambahan Nilai, retur, diskon danpotongan harga.

Revenue from the sale of goods in theordinary course of the Group’s activities ismeasured at the fair value of theconsideration received or receivable, net ofValue Added Tax, returns, discounts andrebates.

Pendapatan penjualan barang diakui padasaat terpenuhinya seluruh kondisi berikut:

Revenue from sales of goods is recognizedwhen all of the following conditions are met:

- Grup telah memindahkan risiko danmanfaat kepemilikan barang secarasignifikan kepada pembeli;

- the Group has transferred to the buyerthe significant risks and rewards ofownership of the goods;

- Grup tidak lagi melanjutkanpengelolaan yang biasanya terkaitdengan kepemilikan atas barangmaupun melakukan pengendalianefektif atas barang yang dijual;

- the Group retains neither continuingmanagerial involvement to the degreeusually associated with ownership noreffective control over the goods sold;

- jumlah pendapatan dapat diukursecara andal;

- the amount of revenue can be measuredreliably;

- kemungkinan besar manfaat ekonomiyang terkait dengan transaksi tersebutakan mengalir ke Grup; dan

- it is probable that the economic benefitsassociated with the transaction will flowto the Group; and

- biaya yang terjadi atau akan terjadisehubungan transaksi penjualantersebut dapat diukur secara andal.

- the costs incurred or to be incurred inrelation to the sales transaction can bemeasured reliably.

ii. Penjualan jasa ii. Sales of services

Pendapatan dari penjualan jasa diakuidalam laba rugi pada saat jasa diberikan.Untuk penjualan jasa yang mengacu padatingkat penyelesaian dari transaksi padatanggal pelaporan, tingkat penyelesaiantransaksi ditentukan denganmemperhatikan survei pekerjaan yangtelah dilaksanakan.

Revenue from sales of services is recognizedin profit or loss when the services arerendered. For sales of services in which theservice are rendered by reference to thestage of completion of the transaction at thereporting date, the stage of completion isassessed by reference to surveys of workperformed.

Pendapatan dari penjualan jasa diakuipada saat terpenuhinya seluruh kondisiberikut:

Revenue from rendering of services isrecognized when all of the followingconditions are met:

- jumlah pendapatan dapat diukursecara andal;

- the amount of revenue can be measuredreliably;

- besar kemungkinan manfaat ekonomisehubungan dengan transaksitersebut akan mengalir ke Grup;

- it is probable that the economic benefitsassociated with the transaction will flowto the Group;

- tingkat penyelesaian dari suatutransaksi pada tanggal pelaporandapat diukur secara andal; dan

- the stage of completion of thetransaction at the reporting date can bemeasured reliably; and

- biaya yang timbul untuk transaksi danbiaya untuk menyelesaikan transaksitersebut dapat diukur dengan andal.

- the costs incurred for the transaction andthe costs to complete the transaction canbe measured reliably.











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q. Pengakuan pendapatan dan beban(lanjutan)

q. Revenues and expenses recognition(continued)

ii. Penjualan jasa (lanjutan) ii. Sales of services (continued)

Bila hasil transaksi penjualan jasa tidakdapat diestimasi dengan andal,pendapatan yang diakui hanya sebesarbeban yang telah diakui yang dapatdiperoleh kembali. Taksiran rugi pada jasasegera diakui dalam laba rugi.

When the outcome of a transaction involvingthe rendering of services cannot be estimatedreliably, revenue is recognized only to theextent of the expenses recognized that arerecoverable. An expected loss on a service isrecognized immediately in profit or loss.

iii. Penghasilan sewa iii. Rental income

Penghasilan sewa dari properti investasidan aset tertentu diakui dalam laba rugidengan dasar garis lurus selama jangkawaktu sewa.

Rental income from investment property andcertain assets is recognized in profit or losson a straight-line basis over the term of thelease.

iv. Beban iv. Expenses

Beban diakui pada saat terjadinyaberdasarkan konsep akrual.

Expenses are recognized when incurred onan accrual basis.

r. Imbalan kerja r. Employee benefits

i. Program imbalan pasti i. Defined benefit plans

Liabilitas program pensiun imbalan pastiyang diakui dalam laporan posisi keuangankonsolidasian adalah nilai kini kewajibanimbalan pasti pada tanggal pelaporandikurangi nilai wajar aset program.Perhitungan tersebut dilakukan olehaktuaris independen denganmenggunakan metode projected unit credit.Nilai kini kewajiban imbalan pastiditentukan dengan mendiskontokanestimasi arus kas keluar di masa depanmenggunakan tingkat bunga obligasipemerintah dengan pertimbangan bahwapada saat ini tidak terdapat pasar aktifuntuk obligasi korporasi yang berkualitastinggi yang memiliki periode jatuhtemponya berdekatan dengan periodeliabilitas tersebut.

The liability recognized in the consolidatedstatement of financial position in respect ofdefined benefit pension plans is the presentvalue of the defined benefit obligation at thereporting date less the fair value of planassets. The calculation is performed by anindependent actuary using the projected unitcredit method. The present value of thedefined benefit obligation is determined bydiscounting the estimated future cashoutflows using government bond interestrates considering currently there is no deepmarket for high quality corporate bonds thathave terms to maturity approximating theterms of the related liability.

Beban yang diakui di laba rugi termasukbiaya jasa kini, beban/pendapatan bunga,biaya jasa lalu dan keuntungan/kerugianpenyelesaian.

Expense charged to profit or loss includescurrent service costs, interestexpense/income, past-service cost and gainsand losses on settlements.











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r. Imbalan kerja (lanjutan) r. Employee benefits (continued)

i. Program imbalan pasti (lanjutan) i. Defined benefit plans (continued)

Pengukuran kembali program imbalanpasti diakui dalam penghasilankomprehensif lain. Pengukuran kembaliterdiri dari keuntungan dan kerugianaktuaria, imbal hasil aset program (diluarpendapatan bunga yang sudahdiakumulasi dalam perhitungan bunganeto/aset) dan setiap perubahan atasdampak batas atas aset (diluar pendapatanbunga yang sudah diakumulasi dalamperhitungan bunga neto/aset).

Remeasurements of defined benefit plansare recognized in other comprehensiveincome. Remeasurements compriseactuarial gains and losses, the return on planassets (excluding amounts included in netinterest on the net defined benefitliability/asset) and any change in the effect ofthe asset ceiling (excluding amounts includedin net interest on the net defined benefitliability/asset).

Biaya jasa lalu diakui segera dalam labarugi, kecuali perubahan pada programpensiun tergantung pada kondisi karyawanmemberikan jasanya selama periodetertentu (periode vesting). Dalam hal ini,biaya jasa lalu diamortisasi denganmenggunakan metode garis lurussepanjang periode vesting.

Past-service costs are recognizedimmediately in profit or loss, unless thechanges to the pension plan are conditionalon the employees remaining in service for aspecified period of time (the vesting period).In this case, the past-service costs areamortized on a straight-line basis over thevesting period.

Keuntungan dan kerugian atas kurtailmendiakui ketika terdapat komitmen untukmengurangi jumlah karyawan yangtercakup dalam suatu program secarasignifikan atau ketika terdapat perubahanketentuan dalam program imbalan pastiyang menyebabkan bagian yang materialdari jasa masa depan, karyawan tidak lagimemberikan imbalan atau memberikanimbalan yang lebih rendah.

Gains and losses on curtailment arerecognized when there is a commitment tomake a material reduction in the number ofemployees covered by a plan or when thereis an amendment of defined benefit planterms such as that a material element offuture services to be provided by currentemployees will no longer qualify for benefits,or will qualify only for reduced benefits.

Program imbalan pasti yangdiselenggarakan oleh Grup meliputipensiun imbalan pasti dan kewajibanimbalan pasti berdasarkan Undang-Undang (“UU”) KetenagakerjaanNo. 13/2003 atau Kontrak Kerja Bersama(“KKB”), mana yang lebih tinggi.

The defined benefit plans provided by theGroup cover defined benefit pension anddefined benefit obligation under Labour LawNo. 13/2003 (“Labour Law”) or the CollectiveLabour Agreement (the “CLA”), whichever ishigher.

ii. Program iuran pasti ii. Defined contribution plans

Program iuran pasti merupakan programimbalan pasca kerja, dimana entitasmembayar iuran tetap kepada suatu entitasterpisah dan tidak memiliki kewajibanhukum ataupun konstruktif untukmembayar iuran lebih lanjut. Kewajibanuntuk membayar iuran secara regulermerupakan biaya imbalan kerja karyawanuntuk tahun dimana jasa diberikan olehkaryawan.

A defined contribution plan is a post-employment benefit plan under which theentity pays fixed contributions into a separateentity and will have no legal or constructiveobligation to pay further amounts. Obligationsfor the regular contributions constituteemployee benefit costs for the year duringwhich services are rendered by employees.











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r. Imbalan kerja (lanjutan) r. Employee benefits (continued)

iii. Imbalan kerja jangka panjang lainnya iii. Other long-term benefits

Karyawan Grup memiliki hak untukmenerima penghargaan masa kerja untukjangka waktu tertentu dalam bentuk kasdalam jumlah tertentu atau barang, yangdisebut Ulang Tahun Dinas (“UTD”) ataucuti berimbalan jangka panjang (“cutibesar”) dalam bentuk jumlah hari cutiberdasarkan periode jasa yangdipersyaratkan.

Employees of the Group are entitled toreceive long service awards, namely UlangTahun Dinas (“UTD”) in the form of certaincash awards or goods and long-service paidleave (“LSL”) in the form of a certain numberof days of leave benefits based on the lengthof service requirements.

Kewajiban terkait dengan UTD dihitungoleh aktuaris independen denganmenggunakan metode projected unit creditdan dibayarkan pada saat karyawanmencapai UTD tertentu selama masakerjanya.

The obligation with respect to UTD iscalculated by an independent actuary usingthe projected unit credit method, and paid atthe time the employees reach certainanniversary dates during employment.

Cuti besar merupakan imbalan sejumlahhari cuti tertentu, yang tergantung padapersetujuan manajemen, diberikan kepadakaryawan yang telah memenuhipersyaratan jumlah tahun memberikanjasa.

LSL is a certain number of days leave benefit,subject to approval by management,provided to employees who have met therequisite number of years of service.

Biaya jasa lalu dan keuntungan ataukerugian aktuarial yang timbul daripenyesuaian akibat perbedaan antaraasumsi aktuarial dan kenyataan danperubahan asumsi-asumsi aktuarialdibebankan secara langsung ke laba rugi.

Past service cost and actuarial gains orlosses arising from experience adjustmentsand changes in actuarial assumptions arecharged immediately to profit or loss.

s. Mata uang s. Currency

i. Mata uang fungsional dan penyajian i. Functional and presentation currency

Pos-pos dalam laporan keuangankonsolidasian dari setiap entitas dalamGrup diukur dalam mata uang padalingkungan ekonomi utama dimana entitasberoperasi (“mata uang fungsional”).Laporan keuangan konsolidasian disajikandalam Rupiah, yang merupakan mata uangfungsional dan penyajian Grup.

Items included in the consolidated financialstatements of each of the Group’s entities aremeasured using the currency of the primaryeconomic environment in which the entityoperates (the “functional currency”). Theconsolidated financial statements arepresented in Rupiah, which is the Group’sfunctional and presentation currency.

ii. Transaksi dan saldo dalam mata uangasing

ii. Transactions and balances in foreigncurrencies

Transaksi dalam mata uang selain matauang Rupiah dijabarkan menjadi matauang Rupiah dengan menggunakan kursyang berlaku pada tanggal transaksi.

Transactions denominated in currenciesother than Rupiah are converted into Rupiahat the rates prevailing as of the date of thetransaction.











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s. Mata uang (lanjutan) s. Currency (continued)

ii. Transaksi dan saldo dalam mata uangasing (lanjutan)

ii. Transactions and balances in foreigncurrencies (continued)

Pada tanggal pelaporan, aset dan liabilitasmoneter dalam mata uang asing dijabarkanke mata uang Rupiah dengan kurs tengahBank Indonesia yang berlaku pada tanggaltersebut. Kurs yang digunakan untuk matauang asing utama adalah sebagai berikut(nilai penuh):

At the reporting date, monetary assets andmonetary liabilities denominated in foreigncurrencies are translated into Rupiah usingthe Bank of Indonesia middle rate prevailingas of that date. The exchange rates of themajor foreign currencies used are as follows(full amount):

31 Desember/ 31 Desember/December 31, December 31,

2019 2018

Dolar AS (“$AS”) 13.901 14.481 US Dollar (“US$”)Dolar Singapura (“$SG”) 10.321 10.603 Singapore Dollar (“SG$”)Euro (“€”) 15.589 16.560 Euro (“€”)

Keuntungan atau kerugian dari selisih kurs,yang sudah terealisasi maupun yangbelum, baik yang berasal dari transaksidalam mata uang asing maupunpenjabaran aset dan liabilitas moneterdibebankan dalam laba rugi, kecuali jikaditangguhkan dalam penghasilankomprehensif lain sebagai lindung nilaiarus kas dan lindung nilai investasi netoyang memenuhi syarat.

Realized or unrealized foreign exchangegains or losses arising from transactions inforeign currency and from the translation offoreign currency monetary assets andliabilities are recognized in profit or loss,except when deferred in othercomprehensive income as qualifying cashflow hedges and qualifying net investmenthedges.

t. Perpajakan t. Taxation

Pajak final Final tax

Peraturan perpajakan di Indonesia mengaturbeberapa jenis penghasilan dikenakan pajakyang bersifat final. Pajak final yang dikenakanatas nilai bruto transaksi tetap dikenakanwalaupun atas transaksi tersebut pelakutransaksi mengalami kerugian.

Tax regulation in Indonesia determined thatcertain income is subject to final tax. Final taxapplied to the gross value of transactions isapplied even when the parties carrying thetransaction are recognizing losses.

Grup menyajikan beban pajak final ataspendapatan dari jasa penyewaan ruangankantor dan tongkang serta penjualan bahanbakar sebagai pos tersendiri, sementara bebanpajak final atas penghasilan bunga disajikansebagai bagian dari “lain-lain - neto” dalam labarugi.

The Group presents final tax expense onrevenues arising from rental of office space andbarges and sales of fuel as a separate line item,while final tax expense on interest income ispresented as part of “others - net” in profit or loss.











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t. Perpajakan (lanjutan) t. Taxation (continued)

Pajak kini Current tax

Aset dan liabilitas pajak kini untuk periodeberjalan diukur sebesar jumlah yang diharapkandapat direstitusi dari atau dibayarkan kepadaotoritas perpajakan. Beban pajak kini ditentukanberdasarkan estimasi penghasilan kena pajakperiode berjalan yang dihitung berdasarkan tarifpajak yang berlaku.

Current tax assets and liabilities for the currentperiod are measured at the amount expected tobe recovered from or paid to the taxationauthority. Current tax expense is determinedbased on the estimated taxable income for theperiod computed using the prevailing tax rates.

Kekurangan pembayaran pajak penghasilandicatat sebagai bagian dari beban pajak kinidalam laba rugi. Grup juga menyajikanbunga/denda, jika ada, sebagai bagian daribeban pajak kini.

Underpayment of income tax are presented aspart of current tax expense in profit or loss. TheGroup also presented interest/penalty, if any, aspart of current tax expense.

Koreksi terhadap liabilitas perpajakan diakuipada saat surat ketetapan pajak diterima atau,jika diajukan keberatan, pada saat keputusanatas keberatan ditetapkan.

Amendments to tax obligations are recordedwhen a tax assessment letter is received or, ifappealed against, when the result of the appeal isdetermined.

Pajak tangguhan Deferred tax

Aset dan liabilitas pajak tangguhan diakuimenggunakan metode liabilitas ataskonsekuensi pajak pada masa mendatang yangtimbul dari perbedaan jumlah tercatat aset danliabilitas menurut laporan keuangankonsolidasian dengan dasar pengenaan pajakaset dan liabilitas pada setiap tanggalpelaporan. Liabilitas pajak tangguhan diakuiuntuk semua perbedaan temporer kena pajakdan aset pajak tangguhan diakui untuk semuaperbedaan temporer yang boleh dikurangkandan akumulasi rugi fiskal, sepanjang besarkemungkinan perbedaan temporer yang bolehdikurangkan dan akumulasi rugi fiskal tersebutdapat dimanfaatkan untuk mengurangipenghasilan kena pajak pada masa depan.

Deferred tax assets and liabilities are recognizedusing the liability method for the future taxconsequences attributable to differences betweenthe carrying amounts of existing assets andliabilities in the consolidated financial statementsand their respective tax bases at each reportingdate. Deferred tax liabilities are recognized for alltaxable temporary differences and deferred taxassets are recognized for all deductible temporarydifferences and accumulated fiscal losses to theextent that it is probable that taxable income willbe available in future years against which thedeductible temporary differences andaccumulated fiscal losses can be utilized.

Jumlah tercatat aset pajak tangguhan ditelaahulang pada akhir setiap periode pelaporan danditurunkan apabila penghasilan kena pajakmungkin tidak memadai untukmengkompensasi sebagian atau semuamanfaat aset pajak tangguhan tersebut. Padaakhir setiap periode pelaporan, Grup menilaikembali aset pajak tangguhan yang tidak diakui.Grup mengakui aset pajak tangguhan yangsebelumnya tidak diakui apabila besarkemungkinan bahwa penghasilan kena pajakpada masa depan akan tersedia untukpemulihannya.

The carrying amount of a deferred tax asset isreviewed at the end of each reporting period andreduced to the extent that it is no longer probablethat sufficient taxable income will be available toallow the benefit of part or all of that deferred taxasset to be utilized. At the end of each reportingperiod, the Group reassesses unrecognizeddeferred tax assets. The Group recognizes apreviously unrecognized deferred tax assets tothe extent that it has become probable that futuretaxable income will allow the deferred tax assetsto be recovered.











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t. Perpajakan (lanjutan) t. Taxation (continued)

Pajak tangguhan (lanjutan) Deferred tax (continued)

Pajak tangguhan dihitung denganmenggunakan tarif pajak yang berlaku atausecara substansial telah berlaku pada tanggalpelaporan. Perubahan nilai tercatat aset danliabilitas pajak tangguhan yang disebabkan olehperubahan tarif pajak dibebankan pada labarugi periode berjalan, kecuali untuk transaksi-transaksi yang sebelumnya telah langsungdibebankan atau dikreditkan ke ekuitas.

Deferred tax is calculated at the tax rates thathave been enacted or substantively enacted atthe reporting date. Changes in the carryingamount of deferred tax assets and liabilities dueto a change in tax rates are charged to currentperiod profit or loss, except to the extent that theyrelate to items previously charged or credited toequity.

Aset dan liabilitas pajak tangguhan disajikansecara saling hapus dalam laporan posisikeuangan konsolidasian, kecuali aset danliabilitas pajak tangguhan untuk entitas yangberbeda, sesuai dengan penyajian aset danliabilitas pajak kini.

Deferred tax assets and liabilities are offset in theconsolidated statement of financial position,except if they are for different legal entities,consistent with the presentation of current taxassets and liabilities.

u. Segmen operasi u. Operating segments

Segmen operasi adalah suatu komponen dariGrup yang melaksanakan aktivitas bisnisdimana komponen tersebut memperolehpendapatan dan menimbulkan beban, termasukpendapatan yang diperoleh dan beban yangtimbul dari transaksi dengan komponen laindalam Grup yang sama.

An operating segment is a component of theGroup that engages in business activities fromwhich it may earn revenues and incur expenses,including revenues and expenses that relate totransactions with other components within theGroup.

Hasil operasi dari segmen operasi tersebut,dimana tersedia informasi keuangan terpisahuntuk segmen tersebut, dikaji ulang secarareguler oleh Pengambil Keputusan Operasional(“PKO”) untuk mengambil keputusan mengenaipengalokasian sumber daya dan untuk menilaikinerja segmen operasi. PKO Grup adalahDireksi.

The operating results of the operating segments,for which discrete financial information isavailable, are reviewed regularly by the ChiefOperating Decision Maker (“CODM”) to makedecisions about resource allocation and to assessperformance. The Group’s CODM are theDirectors.

Kinerja segmen yang dilaporkan kepada Direksimeliputi unsur-unsur yang dapat diatribusikansecara langsung kepada segmen operasitersebut serta yang dapat dialokasikan secaraandal.

Segment results that are reported to the Directorsinclude items directly attributable to a segment aswell as those that can be allocated on areasonable basis.

Pelaporan segmen primer atas informasikeuangan disajikan berdasarkan bisnis utamadari setiap segmen yang dilaporkan. Pelaporansegmen sekunder ditentukan berdasarkankelompok pelanggan.

The primary segment reporting of financialinformation is presented based on the corebusiness of each of the reporting segments. Thesecondary segment reporting is defined based oncustomer grouping.

v. Laba per saham v. Earnings per share

Laba per saham dihitung dengan membagi labaperiode berjalan yang dapat diatribusikankepada pemilik entitas induk dengan jumlahrata-rata tertimbang saham yang beredarsepanjang tahun berjalan.

Earnings per share are calculated by dividing theprofit for the period attributable to owners of theparent by the weighted average number of sharesoutstanding during the year.











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w. Biaya emisi saham w. Shares issuance cost

Biaya langsung yang berkaitan denganpenerbitan saham baru disajikan dalam akun“tambahan modal disetor” sebagai pengurang,setelah dikurangi pajak, dari jumlah yangditerima.

Costs directly attributable to the issuance of newshares are shown in “additional paid-in-capital”account as a deduction, net of tax, from theproceeds.

x. Penerapan standar akuntansi baru x. Adoption of new accounting standards

Efektif tanggal 1 Januari 2019, Grupmenerapkan beberapa standar akuntansi baruyang relevan terhadap Grup berikut ini:

Effective January 1, 2019, the Group adoptedseveral new accounting standards which arerelevant to the Group as follows:

- Amandemen PSAK 24 (2018) - ImbalanKerja tentang Amendemen, kurtailmen,atau Penyelesaian Program, berlakuefektif 1 Januari 2019.

- Amendments to PSAK 24 (2018) -Employee Benefits on the Plan Amendment,Curtailment or Settlement, effectiveJanuary 1, 2019.

Amendemen ini memberikan panduanyang lebih jelas bagi entitas dalammengakui biaya jasa lalu, keuntungandan kerugian penyelesaian, biaya jasakini dan bunga neto setelah adanyaamendemen, kurtailmen, ataupenyelesaian program karenamenggunakan asumsi aktuarial terbaru(sebelumnya menggunakan asumsiakturial pada awal periode pelaporantahunan). Selain itu, AmendemenPSAK 24 juga mengklarifikasi bagaimanapersyaratan akuntansi untukamendemen, kurtailmen, ataupenyelesaian program dapatmempengaruhi persyaratan batas atasaset yang terlihat dari pengurangansurplus yang menyebabkan dampakbatas atas aset berubah.

This amendments provides clearer guidancefor entities in recognizing past service costs,settlement gains and losses, current servicecosts and net interest after plan amendment,curtailment or settlement because they usethe new actuarial assumptions (previouslyusing actuary assumptions at the beginningof the period of annual report). In addition,Amendment to PSAK 24 also clarifies howthe accounting requirements for planamendment, curtailment or settlement canaffect the upper limit of asset requirementswhich can be seen from the reduction insurplus which causes the impact of theasset's upper limit to change.

- Penyesuaian 2018 PSAK 22 - KombinasiBisnis, berlaku efektif 1 Januari 2019.

- 2018 Improvement to PSAK 22 - BusinessCombinations, effective January 1, 2019.

Penyesuaian ini mengklarifikasi bahwaketika salah satu pihak dalam suatupengaturan bersama, memperolehpengendalian atas bisnis yangmerupakan suatu operasi bersama(sebagaimana didefinisikan dalamPSAK 66), dan memiliki hak atas aset dankewajiban atas liabilitas terkait denganoperasi bersama tersebut sesaatsebelum tanggal akuisisi, transaksitersebut adalah kombinasi bisnis yangdilakukan secara bertahap.

This improvement clarifies that when oneparty in a joint arrangement, obtains controlover a business which is a joint operation (asdefined in PSAK 66), and has rights toassets and liabilities related to the jointoperation shortly before date of acquisition,the transaction is a business combinationthat is achieved in stages.











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x. Penerapan standar akuntansi baru (lanjutan) x. Adoption of new accounting standards(continued)

- Penyesuaian 2018 PSAK 26 - BiayaPinjaman, berlaku efektif 1 Januari 2019.

- 2018 Improvement to PSAK 26 - BorrowingCosts, effective January 1, 2019.

Penyesuaian ini mengklarifikasi bahwatarif kapitalisasi biaya pinjaman adalahrata-rata tertimbang biaya pinjaman atassemua saldo pinjaman selama periodenamun entitas mengecualikan dariperhitungan tersebut biaya pinjaman ataspinjaman yang didapatkan secara spesifikuntuk memperoleh aset kualifikasiansampai secara substansial seluruhaktivitas yang diperlukan untukmempersiapkan aset agar dapatdigunakan sesuai dengan intensinya ataudijual telah selesai.

This improvement clarifies that thecapitalization rate of borrowing costs is theweighted average of borrowing costs on allloan balances over the period but the entityexcludes from the calculation the borrowingcosts of loans obtained specifically to obtainqualifying assets up to substantially allactivities needed to prepare the assets sothat can be used according to the intentionor sold has done.

- Penyesuaian 2018 PSAK 46 -Pajak Penghasilan, berlaku efektif1 Januari 2019.

- 2018 Improvement to PSAK 46 - IncomeTaxes, effective January 1, 2019.

Penyesuaian ini menegaskan mengenaikonsekuensi pajak penghasilan atasdividen timbul ketika entitas mengakuiliabilitas untuk membayar dividen.Konsekuensi pajak penghasilan tersebutlebih terkait secara langsung dengantransaksi atau peristiwa masa lalu yangmenghasilkan laba yang dapatdidistribusikan daripada dengan distribusikepada pemilik. Oleh karena itu, entitasmengakui konsekuensi pajakpenghasilan tersebut dalam laba rugi,penghasilan komprehensif lain atauekuitas sesuai dengan pengakuan awalentitas atas transaksi atau peristiwa masalalu tersebut.

This improvement affirming theconsequences of income tax on dividendsarises when an entity recognizes liabilities topay dividends. The consequences of theincome tax are more directly related to pasttransactions or events that generate profitsthat can be distributed rather thandistribution to the owner. Therefore, theentity recognizes the consequences of theincome tax in profit or loss, othercomprehensive income or equity inaccordance with the entity's initialrecognition of the past transaction or event.











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x. Penerapan standar akuntansi baru (lanjutan) x. Adoption of new accounting standards(continued)

- Penyesuaian 2018 PSAK 66 -Pengaturan Bersama, berlaku efektif1 Januari 2019.

- 2018 Improvement to PSAK 66 - JointArrangements, effective January 1, 2019.

Penyesuaian ini mengklarifikasi bahwapihak yang berpartisipasi dalam, tetapitidak memiliki pengendalian bersamaatas, suatu operasi bersama dapatmemperoleh pengendalian bersama atasoperasi bersama dalam hal aktivitasoperasi bersama merupakan suatu bisnis(sebagaimana didefinisikan dalamPSAK 22: Kombinasi Bisnis). Dalamkasus demikian, kepentingan yangdimiliki sebelumnya dalam operasibersama tidak diukur kembali.

This improvement clarifies that the partiesparticipating in, but not having joint controlover, a joint operation can obtain jointcontrol over joint operations in the case thatjoint operating activities are a business (asdefined in PSAK 22: BusinessCombinations). In such cases, the interestsheld previously in joint operations are notmeasured again.

Penerapan ini tidak memberikan dampak yangbesar terhadap pelaporan keuangan danpengungkapan dalam laporan keuangankonsolidasian.

The adoption has no significant impact on thefinancial reporting and disclosures in theconsolidated financial statements.

y. Standar akuntansi yang telah disahkannamun belum berlaku efektif

y. Accounting standards issued but not yeteffective

Standar akuntansi dan interpretasi yang telahdisahkan oleh Dewan Standar AkuntansiKeuangan (DSAK), tetapi belum berlaku efektifuntuk laporan keuangan tahun berjalandiungkapkan di bawah ini. Grup bermaksuduntuk menerapkan standar tersebut, jikadipandang relevan, saat telah menjadi efektif.

The standards and interpretations that are issuedby the Indonesian Financial AccountingStandards Board (DSAK), but not yet effective forcurrent financial statements are disclosed below.The Group intends to adopt these standards, ifapplicable, when they become effective.

- PSAK 71: Instrumen Keuangan, yangdiadopsi dari IFRS 9, berlaku efektif1 Januari 2020.

- PSAK 71: Financial Instruments, adoptedfrom IFRS 9, effective January 1, 2020.

PSAK ini mengatur klasifikasi danpengukuran instrumen keuanganberdasarkan karakteristik dari arus kaskontraktual dan model bisnis entitas;metode kerugian kredit ekspektasianuntuk penurunan nilai yang menghasilkaninformasi yang lebih tepat waktu, relevandan dimengerti oleh pemakai laporankeuangan; akuntansi untuk lindung nilaiyang merefleksikan manajemen risikoentitas lebih baik denganmemperkenalkan persyaratan yang lebihumum berdasarkan pertimbanganmanajemen.

This PSAK provides for classification andmeasurement of financial instruments basedon the characteristics of contractual cashflows and business model of the entity;expected credit loss impairment model thatresulting information more timely, relevantand understandable to users of financialstatements; accounting for hedging thatreflect the entity's risk management betterby introducing a more general requirementsbased on management's judgment.











41



y. Standar akuntansi yang telah disahkannamun belum berlaku efektif (lanjutan)

y. Adoption of new accounting standards(continued)

- PSAK 72: Pendapatan dari Kontrakdengan Pelanggan, yang diadopsi dariIFRS 15, berlaku efektif 1 Januari 2020.

- PSAK 72: Revenue from Contracts withCustomers, adopted from IFRS 15, effectiveJanuary 1, 2020.

PSAK ini adalah standar tunggal untukpengakuan pendapatan yang merupakanhasil dari joint project yang sukses antaraInternational Accounting Standards Boarddan Financial Accounting StandardsBoard, mengatur model pengakuanpendapatan dari kontrak denganpelanggan, sehingga entitas diharapkandapat melakukan analisis sebelummengakui pendapatan.

This PSAK is a single standard that a jointproject between the InternationalAccounting Standards Board (IASB) and theFinancial Accounting Standards Board(FASB), provides revenue recognition fromcontracts with customers, and the entity isexpected to analyze before recognizing therevenue.

- PSAK 73: Sewa, yang diadopsi dari IFRS16, berlaku efektif 1 Januari 2020.

- PSAK 73: Leases, adopted from IFRS 16,effective January 1, 2020.

PSAK ini menetapkan prinsip pengakuan,pengukuran, penyajian, danpengungkapan atas sewa denganmemperkenalkan model akuntansitunggal dengan mensyaratkan untukmengakui aset hak-guna (right-of-useassets) dan liabilitas sewa. Terdapat 2pengecualian opsional dalam pengakuanaset dan liabilitas sewa, yakni untuk: (i)sewa jangka-pendek dan (ii) sewa yangaset pendasarnya (underlying assets)bernilai-rendah.

This PSAK establishes the principles ofrecognition, measurement, presentation,and disclosure of the lease by introducing asingle accounting model, with therequirement to recognize the right-of-useassets and liability of the lease; there are 2optional exclusions in the recognition of thelease assets and liabilities: (i) short-termlease and (ii) lease with low-valueunderlying assets.

- Amandemen PSAK 15 - Investasi padaEntitas Asosiasi dan Ventura Bersama:Kepentingan Jangka Panjang padaEntitas Asosiasi dan Ventura Bersama,berlaku efektif 1 Januari 2020.

- Amendments to PSAK 15 - Investments inJoint Associates and Joint Ventures: Long-term Interests in Associates and JointVentures, effective January 1, 2020.

Amendemen ini mengatur bahwa entitasjuga menerapkan PSAK 71 atasinstrumen keuangan pada entitasasosiasi atau ventura bersama dimanametode ekuitas tidak diterapkan. Hal initermasuk kepentingan jangka panjangyang secara substansi membentukbagian investasi neto entitas pada entitasasosiasi atau ventura bersama.

These amendments provides that the entityalso applies PSAK 71 on the financialinstruments to associates or joint ventureswhere the equity method is not applied. Thisincludes long-term interests thatsubstantively form the entity's netinvestment in an associates or jointventures.











42



y. Standar akuntansi yang telah disahkannamun belum berlaku efektif (lanjutan)

y. Adoption of new accounting standards(continued)

- Amandemen PSAK 71 - InstrumenKeuangan: Fitur Percepatan Pelunasandengan Kompensasi Negatif, berlakuefektif 1 Januari 2020.

- Amendments to PSAK 71 - FinancialInstruments: Prepayment Features withNegative Compensation, effectiveJanuary 1, 2020.

Amendemen ini mengatur bahwa asetkeuangan dengan fitur percepatanpelunasan yang dapat menghasilkankompensasi negatif memenuhi kualifikasisebagai arus kas kontraktual yangberasal semata dari pembayaran pokokdan bunga dari jumlah pokok terutang.

This amendments provides that a financialasset with prepayment features that mayresult in negative compensation qualifies asa contractual cash flow derived solely fromthe principal and interest of the principalamount owed.

Grup sedang mengevaluasi dampak daristandar akuntansi tersebut dan belummenentukan dampaknya terhadap laporankeuangan konsolidasian Perusahaan.

The Group is presently evaluating and has not yetdetermined the effects of these accountingstandards on its consolidated financialstatements.

3. PERTIMBANGAN, ESTIMASI DAN ASUMSIAKUNTANSI SIGNIFIKAN

3. SIGNIFICANT ACCOUNTING JUDGEMENTS,ESTIMATES AND ASSUMPTIONS

Penyusunan laporan keuangan konsolidasiansesuai dengan Standar Akuntansi Keuangan diIndonesia mewajibkan manajemen untuk membuatestimasi dan asumsi yang mempengaruhi jumlah-jumlah yang dilaporkan dari pendapatan, beban,aset dan liabilitas, dan pengungkapan liabilitaskontinjensi pada tanggal pelaporan. Ketidakpastianmengenai asumsi dan estimasi tersebut dapatmengakibatkan penyesuaian nilai tercatat aset danliabilitas dalam periode pelaporan berikutnya.

The preparation of consolidated financial statements,in conformity with Indonesian Financial AccountingStandards, requires management to make judgmentsof estimations and assumptions that affect theamounts reported on income, expenses, assets andliabilities and disclosures of contigent liabilities at thereporting date. The estimation uncertainty may causeadjustment to the carrying amounts of assets andliabilities within the next reporting period.

Manajemen berkeyakinan bahwa pengungkapanberikut telah mencakup ikhtisar pertimbangan,estimasi dan asumsi signifikan yang dibuat olehmanajemen, yang berpengaruh terhadap jumlah-jumlah yang dilaporkan serta pengungkapan dalamlaporan keuangan konsolidasian.

Management believes that the following represent asummary of the significant judgements, estimates andassumptions made that affected certain reportedamounts and disclosures in the consolidated financialstatements.

a. Pertimbangan a. Judgements

Pertimbangan-pertimbangan berikut dibuat olehmanajemen dalam proses penerapan kebijakanakuntansi Grup yang memiliki dampak yangpaling signifikan terhadap jumlah-jumlah yangdiakui dalam laporan keuangan konsolidasian:

The following judgements, made by managementin the process of applying the Group’s accountingpolicies, have the most significant effects on theamounts recognized in the consolidated financialstatements:











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3. PERTIMBANGAN, ESTIMASI DAN ASUMSIAKUNTANSI SIGNIFIKAN (lanjutan)

3. SIGNIFICANT ACCOUNTING JUDGEMENTS,ESTIMATES AND ASSUMPTIONS (continued)

a. Pertimbangan (lanjutan) a. Judgements (continued)

Penentuan mata uang fungsional Determination of functional currency

Mata uang fungsional Perusahaan dan entitasanaknya adalah mata uang dari lingkunganekonomi utama dimana setiap entitasberoperasi. Mata uang tersebut adalah matauang yang terutama mempengaruhipendapatan dan beban dari jasa yangdiberikan.

The functional currency of the Company and itssubsidiaries is the currency of the primaryeconomic environment in which each entityoperates. It is the currency that mainly influencesthe revenue and cost of rendering services.

Klasifikasi aset keuangan dan liabilitaskeuangan

Classification of financial assets and financialliabilities

Grup menetapkan klasifikasi atas aset danliabilitas tertentu sebagai aset keuangan danliabilitas keuangan dengan mempertimbangkanapakah definisi yang ditetapkan PSAK No. 55(Revisi 2014) dipenuhi. Dengan demikian, asetkeuangan dan liabilitas keuangan diakui sesuaidengan kebijakan akuntansi Grup sepertidiungkapkan pada Catatan 2g.

The Group determines the classification of certainassets and liabilities as financial assets andfinancial liabilities by judging if they meet thedefinition set forth in PSAK No. 55 (Revised2014). Accordingly, the financial assets andfinancial liabilities are accounted for inaccordance with the Group’s accounting policiesdisclosed in Note 2g.

Tagihan restitusi pajak dan keberatan atas hasilpemeriksaan pajak

Claims for tax refund and tax assessments underappeal

Berdasarkan peraturan perpajakan yangberlaku saat ini, manajemenmempertimbangkan apakah jumlah tagihanrestitusi pajak yang dicatat dalam akun pajakdibayar di muka dapat dipulihkan dan direstitusioleh Kantor Pajak.

Based on tax regulations currently enacted, themanagement judges if the amounts of claims fortax refund recorded under prepaid taxes accountare recoverable from and refundable by the TaxOffice.

b. Estimasi dan asumsi b. Estimates and assumptions

Asumsi utama mengenai masa depan dansumber utama lain dalam mengestimasiketidakpastian pada tanggal pelaporan yangmempunyai risiko signifikan yang dapatmenyebabkan penyesuaian material terhadapjumlah tercatat aset dan liabilitas dalam periodepelaporan berikutnya diungkapkan di bawah ini.Grup mendasarkan asumsi dan estimasi padaparameter yang tersedia saat laporan keuangankonsolidasian disusun. Kondisi yang ada danasumsi mengenai perkembangan masa depandapat berubah karena perubahan situasi pasaryang berada di luar kendali Grup. Perubahantersebut tercermin dalam asumsi ketikakeadaan tersebut terjadi.

The key assumptions concerning the future andother key sources of estimation uncertainty at thereporting date that have a significant risk ofcausing a material adjustment to the carryingamounts of assets and liabilities within the nextreporting period are disclosed below. The Groupbased its assumptions and estimates onparameters available when the consolidatedfinancial statements were prepared. Existingcircumstances and assumptions about futuredevelopments may change due to marketchanges on circumstances arising beyond thecontrol of the Group. Such changes are reflectedin the assumptions when they occur.











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b. Estimasi dan asumsi (lanjutan) b. Estimates and assumptions (continued)

Penurunan nilai aset keuangan Impairment of financial assets

Penyisihan dibentuk berdasarkan pengalamanpenagihan masa lalu dan faktor-faktor lainnyayang mungkin mempengaruhi kolektibilitas,antara lain kemungkinan kesulitan likuiditasatau kesulitan keuangan yang signifikan yangdialami oleh debitur atau penundaanpembayaran yang signifikan.

The level of allowance is based on past collectionexperience and other factors that may affectcollectability such as the probability of insolvencyor significant financial difficulties of the debtor orsignificant delay in payments.

Jika terdapat bukti obyektif penurunan nilai,maka saat dan besaran total yang dapat ditagihdiestimasi berdasarkan pengalaman kerugianmasa lalu. Penyisihan penurunan nilai dibentukatas akun-akun yang diidentifikasi secaraspesifik telah mengalami penurunan nilai. Akunpinjaman dan piutang dihapusbukukanberdasarkan keputusan manajemen bahwaaset keuangan tersebut tidak dapat ditagih ataudirealisasi meskipun segala cara dan tindakantelah dilaksanakan. Suatu evaluasi ataspiutang, yang bertujuan untuk mengindentifikasitotal penyisihan yang harus dibentuk, dilakukansecara berkala sepanjang tahun. Oleh karenaitu, saat dan besaran total penyisihanpenurunan nilai yang tercatat pada setiap tahundapat berbeda tergantung pada pertimbangandan estimasi yang digunakan.

If there is objective evidence of impairment, timingand collectible amounts are estimated based onhistorical loss data. Allowance for impairment isprovided on accounts specifically identified asimpaired. Loans and receivables written-off arebased on management’s decisions that thefinancial assets are uncollectible or cannot berealized regardless of actions taken. Evaluation ofreceivables to determine the total allowance to beprovided is performed periodically during the year.Therefore, the timing and amount of allowance forimpairment recorded in each year might differbased on the judgements and estimates that havebeen used.

Penentuan nilai wajar dikurangi biaya untukmenjual atau nilai pakai mengharuskanmanajemen untuk membuat estimasi danasumsi mengenai pendapatan, biaya operasi,dan pengeluaran modal di masa depan.Estimasi dan asumsi ini mengandung risiko danketidakpastian; sehingga ada kemungkinanperubahan situasi dapat mengubah proyeksi ini,yang dapat mempengaruhi nilai aset yang dapatdipulihkan kembali. Dalam keadaan seperti itu,sebagian atau seluruh jumlah tercatat asetmungkin akan mengalami penurunan nilai lebihlanjut atau terjadi pengurangan penyisihanpenurunan nilai.

The determination of fair value less costs to sell orvalue in use requires management to makeestimates and assumptions about expectedrevenue, operating costs and future capitalexpenditure. These estimates and assumptionsare subject to risk and uncertainty; hence there isa possibility that changes in circumstances willalter these projections, which may have an impacton the recoverable amount of the assets. In suchcircumstances, some or all of the carrying amountof the assets may be further impaired, or theallowance for impairment may be reduced.











45




Penyusutan, estimasi nilai sisa dan masamanfaat aset tetap dan properti investasi

Depreciation, estimate of residual values anduseful lives of fixed assets and investmentproperties

Masa manfaat aset tetap dan properti investasiGrup diestimasi berdasarkan jangka waktu asettersebut diperkirakan dapat digunakan.Estimasi tersebut didasarkan pada penilaiankolektif berdasarkan bidang usaha yang sama,evaluasi teknis internal dan pengalamanterhadap aset sejenis. Taksiran masa manfaatsetiap aset ditelaah secara berkala dandiperbarui jika estimasi berbeda dari perkiraansebelumnya yang disebabkan karenapemakaian, usang secara teknis atau komersialserta keterbatasan hak atau pembatasanlainnya terhadap penggunaan aset.

The useful lifes of the Group’s fixed assets andinvestment properties are estimated based on theperiod over which the assets are expected to beavailable for use. Such estimation is based on acollective assessment of similar businesses,internal technical evaluations and experience withsimilar assets. The estimated useful life of eachasset is reviewed periodically and updated ifexpectations differ from previous estimates due tophysical wear and tear, technical or commercialobsolescence and legal or other limits on the useof the asset.

Hasil operasi di masa mendatang mungkindapat terpengaruh secara signifikan olehperubahan dalam waktu dan biaya yang terjadikarena perubahan yang disebabkan oleh faktor-faktor yang disebutkan di atas. Penurunantaksiran masa manfaat ekonomis setiap asettetap dan properti investasi akan menyebabkankenaikan beban penyusutan dan penurunannilai tercatat aset tetap dan properti investasi.

It is possible, however, that future results ofoperations could be materially affected bychanges in the amounts and timing of recordedexpenses brought about by changes in the factorsmentioned above. A reduction in the estimateduseful life of any item of fixed assets andinvestment properties would increase therecorded depreciation and decrease the carryingvalues of fixed assets and investment properties.

Beban akrual untuk bonus Accrued expense for bonuses

Beban akrual untuk bonus merupakan biayauntuk manfaat karyawan yang terdiri dari purnajabatan, bonus kinerja dan insentif karyawan.Biaya yang masih harus dibayar tersebutdidasarkan pada metode perhitungan yangdisetujui manajemen dimana tergantungpengukuran kinerja keuangan maupunnonkeuangan. Manajemen mengestimasikanjumlah yang harus diakui berdasarkan padainformasi pendukung yang ada pada tanggalpelaporan. Jumlahnya dapat berubah apabilapengukuran kinerja keuangan dannonkeuangan difinalisasi.

Accrued expense for bonuses representsexpenses from payment of employee benefitswhich consist of post-employee bonuses,performance bonuses and employee incentives.The accrual is based on a formula that wasagreed by management and which depends onfinancial and non-financial performancemeasurements. Management estimates theamount based on the existing supportinginformation at the reporting date. The amount maychange after if the actual financial and non-financial measurements of performance arefinalized.











46




Imbalan kerja Employee benefits

Penentuan liabilitas imbalan kerja Grupbergantung pada pemilihan asumsi yangdigunakan oleh aktuaris independen dalammenghitung jumlah-jumlah tersebut. Asumsitersebut termasuk antara lain, tingkat diskonto,tingkat kenaikan gaji, tingkat kematian, usiapensiun dan tingkat pengunduran diri. Hasilaktual yang berbeda dari asumsi yangditetapkan Grup diakui dalam penghasilankomprehensif lain. Sementara Grupberkeyakinan bahwa asumsi tersebut adalahwajar dan sesuai, perbedaan signifikan padahasil aktual atau perubahan signifikan dalamasumsi yang ditetapkan Grup dapatmempengaruhi secara material liabilitasimbalan kerja dan beban imbalan kerja netoyang diakui dalam laba rugi dan penghasilankomprehensif lain.

The determination of the Group’s employeebenefits liability is dependent on its selection ofcertain assumptions used by the independentactuaries in calculating such amounts. Thoseassumptions include among others, discountrates, salary increase rate, mortality rate,retirement age and resignation rate. Actual resultsthat differ from the Group’s assumptions arerecognized in other comprehensive income. Whilethe Group believes that its assumptions arereasonable and appropriate, significantdifferences in the Group actual results orsignificant changes in the Group’s assumptionsmay materially affect its estimated liabilities foremployee benefits and net employee benefitsexpense recognized in profit or loss and othercomprehensive income.

Beban pajak kini Current tax expense

Grup mengakui beban pajak kini berdasarkanestimasi penghasilan kena pajak periodeberjalan yang dihitung berdasarkan tarif pajakyang berlaku.

The Group recognizes current tax expense basedon the estimated taxable income for the periodcomputed using the prevailing tax rates.

Aset pajak tangguhan Deferred tax assets

Aset pajak tangguhan diakui untuk semuaperbedaan temporer yang boleh dikurangkandan akumulasi rugi fiskal, sepanjang besarkemungkinan perbedaan temporer yang bolehdikurangkan dan akumulasi rugi fiskal tersebutdapat dimanfaatkan untuk mengurangipenghasilan kena pajak pada masa depan.Estimasi signifikan oleh manajemendisyaratkan dalam menentukan total aset pajaktangguhan yang dapat diakui, berdasarkan saatpenggunaan dan tingkat penghasilan kenapajak serta strategi perencanaan pajak masadepan.

Deferred tax assets are recognized for alldeductible temporary differences andaccumulated fiscal losses to the extent that it isprobable that taxable income will be available infuture years against which the deductibletemporary differences and accumulated fiscallosses can be utilized. Significant managementestimates are required to determine the amount ofdeferred tax assets that can be recognized, basedupon the likely timing and the level of the futuretaxable income together with future tax planningstrategies.











47

4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS

Kas dan setara kas terdiri dari: Cash and cash equivalents consist of:

31 Desember/December 31

2019 2018

Kas 2.256 2.940 Cash on hand

Bank Cash in banksRupiah Rupiah

Pihak berelasi (Catatan 30a) Related parties (Note 30a)PT Bank Mandiri (Persero) Tbk 253.024 217.166 PT Bank Mandiri (Persero) TbkPT Bank Negara Indonesia PT Bank Negara Indonesia

(Persero) Tbk 160.833 108.419 (Persero) TbkPT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk 92.095 23.457 (Persero) TbkPT Bank Rakyat Indonesia Syariah 2.468 191 PT Bank Rakyat Indonesia SyariahPT Bank BNI Syariah 1.677 1.055 PT Bank BNI SyariahPT Bank Syariah Mandiri 620 591 PT Bank Syariah Mandiri

510.717 350.879

Pihak ketiga Third partiesPT Bank Maybank Indonesia Tbk 32.781 83.705 PT Bank Maybank Indonesia TbkPT Bank Central Asia Tbk 1.802 2.838 PT Bank Central Asia TbkPT Bank UOB Indonesia 1.224 14.215 PT Bank UOB IndonesiaPT Bank Muamalat Indonesia Tbk 14 18.175 PT Bank Muamalat Indonesia TbkLain-lain (masing-masing Others (each below

di bawah Rp1.000) 2.547 4.222 Rp1,000)

38.368 123.155

Subtotal 549.085 474.034 Sub-total

Dolar AS US DollarPihak berelasi (Catatan 30a) Related parties (Note 30a)

PT Bank Negara Indonesia PT Bank Negara Indonesia(Persero) Tbk 193.909 61.944 (Persero) Tbk

PT Bank Mandiri (Persero) Tbk 15.775 47.300 PT Bank Mandiri (Persero) TbkPT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk 4.062 2.064 (Persero) TbkPT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

Agroniaga Tbk 1.717 1.785 Agroniaga Tbk

215.463 113.093

Pihak ketiga Third partiesPT Bank Maybank Indonesia Tbk 25.188 54.989 PT Bank Maybank Indonesia TbkThe Bank of Tokyo-Mitsubishi UFJ Ltd 3.622 3.773 The Bank of Tokyo-Mitsubishi UFJ LtdPT Bank BTPN Tbk 3.451 5.126 PT Bank BTPN TbkPT Bank UOB Indonesia 3.069 5.881 PT Bank UOB IndonesiaPT Bank ANZ Indonesia 2.886 2.996 PT Bank ANZ IndonesiaPT Bank ICBC Indonesia 2.702 2.504 PT Bank ICBC IndonesiaPT Bank Mizuho Indonesia 2.024 - PT Bank Mizuho IndonesiaPT Bank Central Asia Tbk 2.021 2.790 PT Bank Central Asia TbkLain-lain (masing-masing Others (each below

di bawah Rp2.000) 1.859 4.131 Rp2,000)

46.822 82.190

Subtotal 262.285 195.283 Sub-total

Total bank 811.370 669.317 Total cash in banks











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4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)

Kas dan setara kas terdiri dari: (lanjutan) Cash and cash equivalents consist of: (continued)


2019 2018

Call deposit dan deposito berjangka Call deposits and time depositsRupiah Rupiah

Pihak berelasi (Catatan 30a) Related parties (Note 30a)PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk 17.496 14.000 (Persero) TbkPT Bank BNI Syariah 10.000 10.000 PT Bank BNI SyariahPT Bank Tabungan Negara PT Bank Tabungan Negara

(Persero) Tbk 9.000 12.000 (Persero) TbkPT Bank Syariah Mandiri - 200 PT Bank Syariah Mandiri

36.496 36.200

Pihak ketiga Third partiesPT Bank UOB Indonesia 3.000 3.000 PT Bank UOB IndonesiaPT Bank BTPN Tbk 3.000 - PT Bank BTPN TbkPT Bank Woori Saudara Indonesia - 6.000 PT Bank Woori Saudara IndonesiaPT Bank KEB Hana Indonesia - 2.000 PT Bank KEB Hana Indonesia

6.000 11.000

Total call deposit dan deposito berjangka 42.496 47.200 Total call deposits and time deposits

Total 856.122 719.457 Total

Tingkat suku bunga tahunan call deposit dandeposito berjangka sebesar 4,80% - 7,02% dan5,30% - 8,50% masing-masing untuk tahun 2019dan 2018.

Annual interest rates on call deposits and timedeposits are 4.80% - 7.02% and 5.30% - 8.50% for2019 and 2018, respectively.

5. PIUTANG USAHA 5. TRADE RECEIVABLES

Rincian piutang usaha berdasarkan pelangganadalah sebagai berikut:

The details of trade receivables based on customersare as follows:


2019 2018

Pihak berelasi (Catatan 30b) Related parties (Note 30b)Difakturkan 486.990 264.431 BilledBelum difakturkan 1.360.945 1.031.280 Unbilled

1.847.935 1.295.711Penyisihan penurunan nilai (12.270) (9.875) Allowance for impairment

Piutang usaha pihak berelasi - neto 1.835.665 1.285.836 Trade receivables related parties - net

Pihak ketiga Third partiesDifakturkan 252.015 303.032 BilledBelum difakturkan 150.940 125.156 Unbilled

402.955 428.188Penyisihan penurunan nilai (148.662) (142.181) Allowance for impairment

Piutang usaha pihak ketiga - neto 254.293 286.007 Trade receivables third parties - net











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5. PIUTANG USAHA (lanjutan) 5. TRADE RECEIVABLES (continued)

Rincian piutang usaha berdasarkan mata uangadalah sebagai berikut:

The details of trade receivables based on currenciesare as follows:


2019 2018

Rupiah 1.566.974 1.153.629 RupiahDolar AS 683.655 570.002 US DollarDolar Singapura 261 268 Singapore Dollar

Total 2.250.890 1.723.899 TotalPenyisihan penurunan nilai (160.932) (152.056) Allowance for impairment

Neto 2.089.958 1.571.843 Net

Piutang individual yang diturunkan nilainyadisebabkan karena faktor-faktor yangmempengaruhi kolektibilitas, antara lainkemungkinan kesulitan likuiditas atau keuanganyang dialami oleh debitur atau penundaanpembayaran yang signifikan.

The individually-impaired receivables are mainly dueto factors that may affect collectability, such asprobability of insolvency or significant financialdifficulties of the debtor or significant delay inpayments.

Mutasi penyisihan penurunan nilai untuk tahun 2019dan 2018 adalah sebagai berikut:

The movements in the allowance for impairment in2019 and 2018 are as follows:


2019 2018

Saldo awal 152.056 138.552 Beginning balancesPenyisihan 12.324 7.113 AllowanceSelisih kurs (3.448) 6.391 Foreign exchange differences

Saldo akhir 160.932 152.056 Ending balances

Manajemen berkeyakinan bahwa penyisihanpenurunan nilai cukup untuk menutup kemungkinankerugian yang timbul dari tidak tertagihnya piutangusaha (Catatan 35c).

Management believes that the allowance forimpairment is adequate to cover possible losses thatmay arise from the uncollectability of trade receivables(Note 35c).

Pada tanggal 31 Desember 2019, tidak terdapatpiutang usaha yang digunakan sebagai jaminan.

As of December 31, 2019, there is no tradereceivables used as collateral.

6. ASET KEUANGAN LANCAR LAINNYA 6. OTHER CURRENT FINANCIAL ASSETS

Aset keuangan lancar lainnya terdiri dari: Other current financial assets consist of:


2019 2018

Pihak ketiga : Third parties:Piutang lain-lain 17.711 16.713 Other receivables

Pihak berelasi (Catatan 30c): Related parties (Note 30c):Piutang lain-lain - 3.447 Other receivablesPiutang sewa pembiayaan - bagian lancar 30.496 13.527 Finance lease receivable - current portionBank yang dibatasi penggunaannya - 876 Restricted cash in bank

30.496 17.850

Total 48.207 34.563 TotalPenyisihan penurunan nilai (13.083) (13.473) Allowance for impairment

Neto 35.124 21.090 Net











50

6. ASET KEUANGAN LANCAR LAINNYA (lanjutan) 6. OTHER CURRENT FINANCIAL ASSETS(continued)

Mutasi penyisihan penurunan nilai untuk tahun 2019dan 2018 adalah sebagai berikut:

The movements in the allowance for impairment in2019 and 2018 are as follows:


2019 2018

Saldo awal 13.473 12.784 Beginning balancesSelisih kurs (390) 689 Foreign exchange differences


Manajemen berkeyakinan bahwa penyisihanpenurunan nilai cukup untuk menutup kemungkinankerugian yang timbul dari tidak terpulihkannya asetkeuangan lancar lainnya.

Management believes that the allowance forimpairment is adequate to cover possible losses thatmay arise from the unrecoverability of other currentfinancial assets.

Penghasilan bunga dari sewa pembiayaan untuktahun 2019 dan 2018 masing-masing sebesarRp17.765 dan Rp4.899.

Interest income from finance leases in 2019 and 2018amounted to Rp17,765 and Rp4,899, respectively.

7. PERSEDIAAN 7. INVENTORIES

Persediaan terdiri dari: Inventories consist of:


2019 2018

Barang kebutuhan proyek 139.559 121.596 Project materialsBarang dagangan 46.474 41.833 Merchandise inventoriesBarang dalam proses 27.296 12.488 Work in progressBarang jadi 6.708 11.355 Finished goodsBahan baku 15 56 Raw materials

Total 220.052 187.328 TotalPenyisihan persediaan usang (6.754) (20.263) Allowance for inventory obsolescence

Neto 213.298 167.065 Net

Mutasi penyisihan persediaan using untuk tahun2019 dan 2018 adalah sebagai berikut:

The movements in the allowance for inventoryobsolescence in 2019 and 2018 are as follows:


2019 2018

Saldo awal 20.263 29.206 Beginning balancesProvisi tahun berjalan 1.000 - Provision during the yearPemulihan tahun berjalan (1.501) (8.943) Recoveries during the yearPenjualan tahun berjalan (13.008) - Sales during the year


Manajemen berkeyakinan bahwa penyisihanpersediaan usang cukup untuk menutupkemungkinan kerugian yang timbul dari penurunannilai realisasi neto persediaan.

Management believes that the allowance for inventoryobsolescence is adequate to cover possible lossesthat may arise from a decline in the realizable value ofinventories.











51

7. PERSEDIAAN (lanjutan) 7. INVENTORIES (continued)

Biaya persediaan yang diakui sebagai beban dantermasuk dalam “beban pokok pendapatan” untuktahun yang berakhir pada tanggal31 Desember 2019 dan 2018 masing-masingsebesar Rp1.864.544 dan Rp1.604.191(Catatan 26).

The cost of inventories recognized as an expense andincluded in “cost of revenues” for the years endedDecember 31, 2019 and 2018 amounted toRp1,864,544 and Rp1,604,191, respectively(Note 26).

Pada tanggal 31 Desember 2019 dan 2018,persediaan barang kebutuhan proyek telahdiasuransikan terhadap semua risiko dengan nilaipertanggungan masing-masing sebesar Rp88.737.Manajemen berkeyakinan bahwa asuransi tersebuttelah memadai untuk menutup kerugian yangmungkin timbul atas persediaan yangdipertanggungkan.

As of December 31, 2019 and 2018, project materialsare insured against all risks at a total insurancecoverage amounting to Rp88,737, respectively.Management believes that the insurance coverage isadequate to cover possible losses arising from theinsured inventories.

Pada tanggal 31 Desember 2019 dan 2018,persediaan barang jadi, barang dalam proses danbahan baku tidak diasuransikan karena manajemenmenilai risiko kerugian adalah minimal.

Pada tanggal 31 Desember 2019 dan 2018, tidakterdapat persediaan yang digunakan sebagaijaminan.

As of December 31, 2019 and 2018, finished goods,work in progress and raw materials are not covered byinsurance, as management has assessed the risk ofloss as minimal.

As of December 31, 2019 and 2018, there is noinventory used as collateral.

8. UANG MUKA 8. ADVANCES

Uang muka terdiri dari: Advances consist of:


2019 2018

Lancar CurrentUang muka operasi 125.238 88.975 Advances for operationLain-lain 4.741 977 Others

Total 129.979 89.952 Total

Tidak lancar Non-currentUang muka pembelian aset tetap 49.509 22.123 Advances for purchase of fixed assets

Uang muka operasi merupakan uang muka untuksewa peralatan, pembelian suku cadang, bahanbakar dan biaya operasi lainnya.

Advances for operation mainly represent advances forrental of equipment, purchases of spare parts, fuel andother operating costs.

9. BIAYA DIBAYAR DI MUKA 9. PREPAID EXPENSES

Biaya dibayar di muka terdiri dari: Prepaid expenses consist of:


2019 2018

Sewa 12.179 8.332 RentAsuransi 8.127 3.690 InsuranceLain-lain 3.230 2.991 Others

Total 23.536 15.013 Total











52

10. ASET KEUANGAN TIDAK LANCAR LAINNYA 10. OTHER NON-CURRENT FINANCIAL ASSETS

Aset keuangan tidak lancar lainnya terdiri dari: Other non-current financial assets consist of:


2019 2018

Pihak ketiga: Third parties:Klaim atas deposito ke Bank Mega Claim of deposits to Bank Mega

(Catatan 31a) 111.000 111.000 (Note 31a)Bank yang dibatasi penggunaannya 25.872 6.733 Restricted cash in banks

136.872 117.733

Pihak berelasi (Catatan 30d): Related parties (Note 30d):Piutang sewa pembiayaan - Finance lease receivables -

bagian tidak lancar 333.788 53.310 non-current portion


Neto 464.953 163.961 Net

Penyisihan penurunan nilai terkait dengan efekperubahan nilai waktu uang atas klaim deposito kePT Bank Mega Tbk (Catatan 31a). Mutasipenyisihan penurunan nilai adalah sebagai berikut:

Allowance for impairment is related to the impact oftime value of money from claim of deposits to PT BankMega Tbk (Note 31a). The movements in theallowance for impairment are as follows:


2019 2018

Saldo awal 7.082 5.350 Beginning balancePenyisihan (pemulihan) (1.375) 1.732 Allowance (recovery)

Saldo akhir 5.707 7.082 Ending balance

Manajemen berkeyakinan bahwa penyisihanpenurunan nilai cukup dengan mempertimbangkanestimasi waktu pembayaran klaim deposito tersebut.

Management believes that the allowance forimpairment is adequate considering the estimatedtime of payment of the claim of deposits.

11. INVESTASI PADA SAHAM 11. INVESTMENTS IN SHARES

a. Investasi tersedia untuk dijual a. Available-for-sale investments

Rincian investasi tersedia untuk dijual adalahsebagai berikut:

The details of available-for-sale investments areas follows:

Persentase kepemilikan/ Jumlah tercatat/Percentage of ownership Carrying amount

31 Desember/December 31 31 Desember/December 31

2019 2018 2019 2018

PT Margaraya Jawa Tol 16,7% 16,7% 36.827 36.827 PT Margaraya Jawa TolPT Bhakti Patra Nusantara 10,0% 10,0% 960 960 PT Bhakti Patra Nusantara


Neto - - Net











53

11. INVESTASI PADA SAHAM (lanjutan) 11. INVESTMENTS IN SHARES (continued)

a. Investasi tersedia untuk dijual (lanjutan) a. Available-for-sale investments (continued)

Investasi tersedia untuk dijual diturunkannilainya terutama terkait dengan ketidakpastianatas pengembalian investasi.

Available-for-sale investments are impairedmainly due to uncertainty of return on investment.

b. Investasi pada ventura bersama b. Investment in joint venture

KSO Perusahaan dan PT Waskita AdhiSejahtera (“KSO Elnusa-WAS”)

KSO Perusahaan dan PT Waskita Adhi Sejahtera(“KSO Elnusa-WAS”)

Pada tanggal 12 Desember 2016, Perusahaandan WAS menandatangani PerjanjianKerjasama Operasi (“KSO”). KSO ini dibentukuntuk melakukan proyek jasa pemeliharaanelektrikal dan instrumentasi dari BP Berau Ltd.Komposisi kepemilikan pada KSO adalah 51%oleh Perusahaan dan 49% oleh WAS. Padatanggal 31 Desember 2019 dan 2018, jumlahtercatat investasi pada KSO Elnusa-WASmasing-masing sebesar Rp16.660 danRp8.946.

On December 12, 2016, the Company and WASentered into Joint Operation (“JO”) agreement.The JO is established in order to perform electricaland instrumentation maintenance services projectfrom BP Berau Ltd. The composition ofownerships in JO are 51% owned by theCompany and 49% owned by WAS. As ofDecember 31, 2019 and 2018, the carryingamount of investment in KSO Elnusa-WAS isRp16,660 and Rp8,946, respectively.

Untuk tahun yang berakhir pada tanggal31 Desember 2019 dan 2018, Perusahaanmencatat bagian laba masing-masing sebesarRp7.714 dan Rp4.025 dan disajikan sebagaibagian dari akun penghasilan lain-lain dalamlaporan laba rugi dan penghasilankomprehensif lain konsolidasian.

For the years ended December 31, 2019 and2018, the Company recorded equity incomeamounted to Rp7,714 and Rp4,025 and arepresented as part of other income account in theconsolidated statement of profit or loss and othercomprehensive income.

Ringkasan informasi keuangan KSO Elnusa-WAS adalah sebagai berikut:

The summary of KSO Elnusa-WAS’ financialinformation is as follows:


2019 2018

Total aset 49.590 28.721 Total assetsTotal liabilitas 19.858 11.114 Total liabilitiesTotal ekuitas 29.732 17.607 Total liabilities

Tahun yang berakhir pada tanggal31 Desember/

Year ended December 31

2019 2018

Pendapatan 68.155 41.686 RevenueLaba tahun berjalan 15.125 7.891 Profit for the year











54

12. ASET TETAP 12. FIXED ASSETS

Seluruh aset tetap dimiliki secara langsung olehGrup. Mutasi aset tetap adalah sebagai berikut:

All fixed assets are directly owned by the Group. Themovements in fixed assets are as follows:

Tahun yang berakhir pada tanggal 31 Desember 2019/Year ended December 31, 2019

Saldo awal/ Saldo akhir/Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending

balance Additions Deductions Reclassifications balance

Biaya perolehan CostTanah 232.613 21.597 - - 254.210 LandBangunan, prasarana Buildings, improvements

dan instalasi 467.980 2.157 (6.360) 14.528 478.305 and installationsMesin dan peralatan 1.880.070 18.353 (67.795) 106.866 1.937.494 Machinery and equipmentPerabotan dan perlengkapan Office furniture, fixtures

kantor 64.021 5.667 (1.359) 737 69.066 and equipmentAlat transportasi 286.703 3.293 (3.190) 50.803 337.609 Transportation equipmentKonstruksi baja 1.703.232 42.040 (107.317) 94.803 1.732.758 Steel constructionsAset dalam penyelesaian 70.965 375.854 - (267.737) 179.082 Construction in progress

Total 4.705.584 468.961 (186.021) - 4.988.524 Total

Akumulasi penyusutan Accumulated depreciationBangunan, prasarana Buildings, improvements

dan instalasi (312.077) (23.001) 5.806 - (329.272) and installationsMesin dan peralatan (1.362.171) (174.591) 65.163 - (1.471.599) Machinery and equipmentPerabotan dan perlengkapan Office furniture, fixtures

kantor (64.021) (5.108) 1.359 - (67.770) and equipmentAlat transportasi (102.356) (38.417) 2.811 - (137.962) Transportation equipmentKonstruksi baja (1.119.223) (140.017) 104.744 - (1.154.496) Steel constructions

Total (2.959.848) (381.134) 179.883 - (3.161.099) Total

Penyisihan penurunan nilai (9.882) - 1.778 - (8.104) Allowance for impairment

Nilai buku neto 1.735.854 1.819.321 Net book value




Biaya perolehan CostTanah 229.627 2.986 - - 232.613 LandBangunan, prasarana Buildings, improvements

dan instalasi 416.352 2.645 (5.016) 53.999 467.980 and installationsMesin dan peralatan 1.639.835 27.267 (74.337) 287.305 1.880.070 Machinery and equipmentPerabotan dan perlengkapan Office furniture, fixtures

kantor 60.055 5.386 (1.693) 273 64.021 and equipmentAlat transportasi 228.678 6.165 (3.008) 54.868 286.703 Transportation equipmentKonstruksi baja 1.679.886 7.209 (1.614) 17.751 1.703.232 Steel constructionsAset dalam penyelesaian 14.847 470.314 - (414.196) 70.965 Construction in progress

Total 4.269.280 521.972 (85.668) - 4.705.584 Total

Akumulasi penyusutan Accumulated depreciationBangunan, prasarana Buildings, improvements

dan instalasi (291.207) (24.499) 3.629 - (312.077) and installationsMesin dan peralatan (1.282.304) (153.135) 73.268 - (1.362.171) Machinery and equipmentPerabotan dan perlengkapan Office furniture, fixtures

kantor (60.054) (5.660) 1.693 - (64.021) and equipmentAlat transportasi (73.578) (31.770) 2.992 - (102.356) Transportation equipmentKonstruksi baja (983.184) (137.165) 1.126 - (1.119.223) Steel constructions

Total (2.690.327) (352.229) 82.708 - (2.959.848) Total

Penyisihan penurunan nilai (9.882) - - - (9.882) Allowance for impairment

Nilai buku neto 1.569.071 1.735.854 Net book value











55

12. ASET TETAP (lanjutan) 12. FIXED ASSETS (continued)

Hak kepemilikan atas tanah Grup merupakan HakGuna Bangunan yang hak secara legalnya akanberakhir antara tahun 2024 sampai dengan tahun2045. Manajemen berkeyakinan bahwa hak tersebutakan dapat diperpanjang pada saat berakhirnya.

Land rights of the land owned by the Group are in theform of Building Rights Title (“Hak Guna Bangunan”)which the terms will expire between 2024 up to 2045.Management believes that these land rights can beextended upon their expiration.

Manajemen berkeyakinan bahwa penyisihanpenurunan nilai pada tanggal 31 Desember 2019dan 2018 adalah cukup.

Management believes that the allowance forimpairment as of December 31, 2019 and 2018 isadequate.

Penyusutan aset tetap dibebankan sebagai berikut: Fixed assets depreciation is charged as follows:



2019 2018

Beban pokok pendapatan 376.427 346.942 Cost of revenuesBeban umum dan administrasi 4.707 5.287 General and administrative expenses

Total 381.134 352.229 Total

Rincian aset dalam penyelesaian adalah sebagaiberikut:

The details of construction in progress are as follows:

31 Desember/December 31, 2019

Persentase Akumulasipenyelesaian/ biaya/Percentage of Accumulated Estimasi penyelesaian/

completion costs Estimated completion

Depot bahan bakar minyak 95% 119.602 Maret/March 2020 Depot fuelTruk tangki 90% 28.062 Januari/January 2020 Fuel transportation vehiclesDocking kapal 90% 26.415 Mei/May 2020 VesselLain-lain (masing-masing dibawah

Rp5.000) 90% 5.003 Januari/January 2020 Others (each below Rp5,000)

179.082


Persentase Akumulasipenyelesaian/ biaya/Percentage of Accumulated Estimasi penyelesaian/

completion costs Estimated completion

Geophone string dan transition zone Geophone string and transition zoneequiptment 67% 21.454 Maret/March 2019 equiptment

Depot bahan bakar minyak 30% 19.834 Juni/June 2019 Depot fuelTruk tangki 90% 10.405 Maret/March 2019 Fuel transportation vehiclesHydraulic Workover Unit Hydraulic Workover Unit

dan Coil Tubing Unit 40% 5.293 Maret/March 2019 and Coil Tubing UnitInstalasi gedung 39% 4.691 Maret/March 2019 Building installationLain-lain (masing-masing dibawah

Rp5.000) 75% 9.288 Maret/March 2019 Others (each below Rp5,000)

70.965

Pada tanggal 31 Desember 2019 dan 2018, tidakterdapat aset tetap yang tidak dipakai sementara.

As of December 31, 2019 and 2018, there are no fixedassets temporarily not in use.











56

12. ASET TETAP (lanjutan) 12. FIXED ASSETS (continued)

Pada tanggal 31 Desember 2019 dan 2018, jumlahtercatat bruto aset tetap yang telah disusutkanpenuh dan masih digunakan masing-masingsebesar Rp1.240.141 dan Rp804.365.

As of December 31, 2019 and 2018, the gross carryingamounts of fixed assets which have been fullydepreciated and are still in use amounted toRp1,240,141 and Rp804,365, respectively.

Pada tanggal 31 Desember 2019 dan 2018, tidakterdapat aset tetap yang diklasifikasikan sebagaitersedia untuk dijual atau yang dihentikan daripenggunaan aktif.

As of December 31, 2019 and 2018, there are no fixedassets classified as held for sale or terminated fromactive use.

Rincian rugi penjualan/pelepasan aset tetap di tahun2019 dan 2018 adalah sebagai berikut:

Details of loss on sale/disposal of fixed assets in 2019and 2018 are as follows:


2019 2018

Harga jual 3.353 2.044 ProceedsDikurangi: Nilai buku neto (4.360) (2.960) Less: Net book value

Rugi - neto (1.007) (916) Loss - net

Pada tanggal 31 Desember 2019 dan 2018, asettetap dengan nilai buku masing-masing sebesarRp1.033.356 dan Rp1.163.577 telah diasuransikanatas semua risiko dengan total nilai pertanggunganmasing-masing sebesar Rp751.266 dan$AS114.372.805 dan Rp569.355 dan$AS119.523.242. Manajemen berkeyakinan bahwajumlah tersebut telah memadai untuk menutupkerugian yang mungkin timbul terkait dengan asetyang diasuransikan.

As of December 31, 2019 and 2018, fixed assets withnet book value of Rp1,033,356 and Rp1,163,577,respectively, are covered by insurance against all risksat a total coverage amounting to Rp751,266 andUS$114,372,805 and Rp569,355 andUS$119,523,242, respectively. Management believesthat the insurance coverage is adequate to coverpossible losses arising in relation to the insuredassets.

Nilai wajar aset tetap dengan nilai buku sebesarRp1.496.422 pada tahun yang berakhir tanggal31 Desember 2019 berdasarkan laporan dari penilaiindependen adalah sebesar Rp1.772.370. Totaljumlah nilai buku aset tetap yang tidak dilakukanpenilaian pada tahun yang berakhir pada tanggal31 Desember 2019 sebesar Rp322.899 Manajemenberkeyakinan bahwa tidak ada perbedaan signifikanantara nilai wajar dan jumlah tercatat aset tetap yangtidak dilakukan penilaian tersebut.

The fair value of fixed assets with net book value ofRp1,496,422 as of December 31, 2019 based onindependent appraisal reports amounted toRp1,772,370. The total net book value of fixed assetsthat were not appraised by independent appraiser asof December 31, 2019 amounted to Rp322,899.Management believes that there is no significantdifference between the fair value and carrying amountof these fixed assets.

Pada tanggal 31 Desember 2019, tidak terdapataset tetap yang digunakan sebagai jaminan.

As of December 31, 2019, there is no fixed assetsused as collateral.











57

13. ASET TAKBERWUJUD 13. INTANGIBLE ASSETS

Mutasi aset takberwujud adalah sebagai berikut: The movements in intangible assets are as follows:




Biaya perolehan CostHak atas tanah 8.872 - - - 8.872 Land rightsPerangkat lunak dan lisensi 120.661 3.710 - - 124.371 Software and licenses

Total 129.533 3.710 - - 133.243 Total

Akumulasi amortisasi Accumulated amortizationHak atas tanah (2.647) (406) - - (3.053) Land rightsPerangkat lunak dan lisensi (108.619) (7.826) - - (116.445) Software and licenses

Total (111.266) (8.232) - - (119.498) Total

Nilai buku neto 18.267 13.745 Net book value




Biaya perolehan CostHak atas tanah 8.872 - - - 8.872 Land rightsPerangkat lunak dan lisensi 109.514 11.734 (587) - 120.661 Software and licenses

Total 118.386 11.734 (587) - 129.533 Total

Akumulasi amortisasi Accumulated amortizationHak atas tanah (2.241) (406) - - (2.647) Land rightsPerangkat lunak dan lisensi (102.054) (7.152) 587 (108.619) Software and licenses

Total (104.295) (7.558) 587 - (111.266) Total


Amortisasi aset takberwujud dibebankan sebagaiberikut:

Intangible assets amortization is charged as follows:



2019 2018

Beban pokok pendapatan 6.922 5.206 Cost of revenuesBeban umum dan administrasi 1.310 2.352 General and administrative expenses












58

14. PROPERTI INVESTASI 14. INVESTMENT PROPERTIES

Mutasi properti investasi adalah sebagai berikut: The movements in investment properties are asfollows:




Biaya perolehan CostTanah 50.586 - - - 50.586 LandBangunan, prasarana dan Buildings, improvement

instalasi 14.105 - - - 14.105 and installations

Total 64.691 - - - 64.691 Total

Akumulasi penyusutan Accumulated depreciationBangunan, prasarana dan Buildings, improvement

instalasi (12.698) (117) - - (12.815) and installations





Biaya perolehan CostTanah 50.586 - - - 50.586 LandBangunan, prasarana dan Buildings, improvement

instalasi 14.105 - - - 14.105 and installations

Total 64.691 - - - 64.691 Total

Akumulasi penyusutan Accumulated depreciationBangunan, prasarana dan Buildings, improvement

instalasi (12.578) (120) - - (12.698) and installations


Untuk tahun 2019 dan 2018, beban penyusutanmasing-masing sebesar Rp117 dan Rp120seluruhnya dialokasikan ke “beban umum danadministrasi” dalam laba rugi.

In 2019 and 2018, depreciation expenses amountingto Rp117 and Rp120, respectively, were charged to“general and administrative expenses” in profit or loss.

Nilai wajar properti investasi pada tahun yangberakhir pada tanggal 31 Desember 2019 dan 2018dihitung berdasarkan Nilai Jual Objek Pajak(“NJOP”) masing-masing sebesar Rp434.183 danRp399.544.

The fair value of investment properties for the yearsended December 31, 2019 and 2018 are calculatedbased on taxable sale value (“NJOP”) amounted toRp434,183 and Rp399,544, respectively.

Penghasilan sewa dari properti investasi untuktahun yang berakhir pada tanggal 31 Desember2019 dan 2018 masing-masing sebesar Rp79.591dan Rp49.191.

Rental income from investment properties for theyears ended December 31, 2019 and 2018 amountedto Rp79,591 and Rp49,191, respectively.

Pada tanggal 31 Desember 2019 dan 2018,beberapa properti investasi telah diasuransikanuntuk semua risiko dengan nilai pertanggunganmasing-masing sebesar Rp33.181. Manajemenberkeyakinan bahwa jumlah asuransi tersebut telahmemadai untuk menutup kerugian yang mungkintimbul.

As of December 31, 2019 and 2018, certaininvestment properties were covered by insuranceagainst all risks at a total coverage amounting toRp33,181, respectively. Management believes that theinsurance coverage is adequate to cover possiblelosses.











59

14. PROPERTI INVESTASI (lanjutan) 14. INVESTMENT PROPERTIES (continued)

Berdasarkan penelaahan manajemen Grup, tidakterdapat kejadian-kejadian atau perubahan-perubahan keadaan yang mengindikasikan adanyapenurunan nilai properti investasi pada tanggal31 Desember 2019 dan 2018.

Based on the review of the Group’s management,there were no events or changes in circumstanceswhich indicate impairment in the value of investmentproperties as of December 31, 2019 and 2018.

15. PINJAMAN BANK JANGKA PENDEK 15. SHORT-TERM BANK LOANS

Pinjaman bank jangka pendek terdiri dari: Short-term bank loans consist of:


2019 2018

Rupiah RupiahPihak Ketiga Third parties

PT Bank BTPN Tbk 220.000 174.183 PT Bank BTPN TbkPT Bank UOB Indonesia 6.439 - PT Bank UOB Indonesia

Pihak berelasi (Catatan 30e) Related parties (Note 30e)PT Bank Negara Indonesia PT Bank Negara Indonesia

(Persero) Tbk - 16.268 (Persero) Tbk

Dolar AS US DollarPihak ketiga Third parties

PT Bank BTPN Tbk 69.505 43.443 PT Bank BTPN TbkPT Bank UOB Indonesia 13.358 - PT Bank UOB IndonesiaPT Bank ICBC Indonesia - 217.215 PT Bank ICBC IndonesiaPT Bank Mizuho Indonesia - 130.329 PT Bank Mizuho Indonesia

Pihak berelasi (Catatan 30e) Related parties (Note 30e)PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk - 27.427 (Persero) Tbk

Total 309.302 608.865 Total

a. PT Bank BTPN Tbk*) (“BTPN”) a. PT Bank BTPN Tbk*) (“BTPN”)

Perusahaan The CompanyBerdasarkan perjanjian kredit tanggal26 Oktober 2018, Perusahaan memperolehfasilitas untuk membiayai aktivitas operasionaldan modal kerja Perusahaan yang terdiri darifasilitas perdagangan (LC, Acceptance, Loanon Note - TR) dan fasilitas pinjaman (Loan onNote 1 dan 2) dengan batas maksimumgabungan sebesar $AS20.000.000.

Based on a credit agreement datedOctober 26, 2018, the Company obtainedfacilities to finance the Company’s operatingactivities and working capital consisting of tradefacilities (LC, Acceptance, Loan on Notes - TR)and loan facilities (Loan on Notes 1 and 2) with amaximum combined limit of US$20,000,000.

Fasilitas Loan on Note - TR dan Loan on Note1 dan 2 dikenakan bunga sebesar biayapendanaan SMBC ditambah marjin tertentu pertahun untuk penarikan dalam Dolar AS atauRupiah. Fasilitas ini akan jatuh tempo sampaidengan tanggal 29 Maret 2020.

The Loan on Note - TR and Loan on Notes 1 and2 facilities bear interest at the rate of cost of fundof SMBC plus certain margin per annum forwithdrawal in US Dollar or Rupiah. These facilitieswill mature up to March 29, 2020.

Fasilitas ini mensyaratkan Perusahaan untuk,antara lain, memelihara rasio utang berbungaterhadap EBITDA maksimal sebesar 4 kali danrasio utang terhadap ekuitas maksimal sebesar3 kali. Fasilitas ini diberikan tanpa jaminan(clean-basis).

These facilities require the Company, amongothers, to maintain the maximum interest-bearingdebt to EBITDA ratio at 4 times and the maximumdebt to equity ratio at 3 times. These facilities areprovided on a clean-basis.

*) Entitas yang dipertahankan dari merger PT Bank Tabungan

Pensiunan Nasional Tbk dan PT Bank Sumitomo Mitsui Indonesia

*) The surviving entity from merger of PT Bank Tabungan Pensiunan Nasional

Tbk and PT Bank Sumitomo Mitsui Indonesia











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15. PINJAMAN BANK JANGKA PENDEK (lanjutan) 15. SHORT-TERM BANK LOANS (continued)

a. PT Bank BTPN Tbk (“BTPN”) (lanjutan) a. PT Bank BTPN Tbk (“BTPN”) (continued)

EPN EPNBerdasarkan perjanjian kredit tanggal28 November 2019, EPN memperoleh fasilitasuntuk membiayai aktivitas operasional danmodal kerja Perusahaan yang terdiri darifasilitas perdagangan (LC, Acceptance, Loanon Note - TR) dan fasilitas pinjaman (Loan onNote 1 dan 2) dengan batas maksimumgabungan sebesar Rp350.000.

Based on a credit agreement datedNovember 28, 2019, EPN obtained facilities tofinance the Company’s operating activities andworking capital consisting of trade facilities (LC,Acceptance, Loan on Notes - TR) and loanfacilities (Loan on Notes 1 and 2) with a maximumcombined limit of Rp350,000.

Fasilitas ini mensyaratkan EPN untuk, antaralain, memelihara rasio utang berbunga terhadapEBITDA maksimal sebesar 4 kali dan rasioutang terhadap ekuitas maksimal sebesar 3kali. Fasilitas ini diberikan tanpa jaminan (clean-basis).

These facilities require EPN, among others, tomaintain the maximum interest-bearing debt toEBITDA ratio at 4 times and the maximum debt toequity ratio at 3 times. These facilities areprovided on a clean-basis.

Saldo terutang atas seluruh fasilitas pinjamanini sebesar $AS5.000.000 (setara denganRp69.505) dan Rp220.000 pada tanggal 31Desember 2019 dan $AS3.000.000 (setaradengan Rp43.443) dan Rp174.183 padatanggal 31 Desember 2018.

The outstanding balance of these loan facilitiesamounted to US$5,000,000 (equivalent toRp69,505) and Rp220,000 as of December 31,2019 and US$3,000,000 (equivalent to Rp43,443)and Rp174,183 as of December 31, 2018.

b. PT Bank Negara Indonesia (Persero) Tbk b. PT Bank Negara Indonesia (Persero) Tbk

Berdasarkan perjanjian kredit tanggal4 Juli 2012 yang terakhir kali diubah padatanggal 28 Agustus 2018, Perusahaanmemperoleh fasilitas Kredit Tidak Langsunguntuk keperluan penjaminan dan modal kerjayang terdiri dari Standby Letter of Credit(“SBLC”)/Bank Garansi (“BG”), Letter of Credit(“LC”)/Surat Kredit Berdokumen Dalam Negeri(“SKBDN”), Trust Receipt (“TR”), dan kreditmodal kerja post-financing dengan batasmaksimum gabungan sebesar $AS50.000.000.

Based on a credit agreement dated July 4, 2012,with latest amandement on August 28, 2018, theCompany obtained an Indirect Credit facility forguarantee and working capital purposesconsisting of Standby Letter of Credit(“SBLC”)/Bank Guarantee (“BG”), Letter of Credit(“LC”)/Surat Kredit Berdokumen Dalam Negeri(“SKBDN”), Trust Receipt (“TR”), and post-financing working capital credit with a maximumcombined limit of US$50,000,000.

Fasilitas ini dikenakan bunga yang sukubunganya akan ditetapkan secara negosiasipada saat realisasi dan fasilitas ini akan jatuhtempo sampai dengan tanggal 3 Juli 2020.

These facilities bear interest at the rate which willbe determined through negotiation on withdrawaland these facilities will mature up to July 3, 2020.

Fasilitas ini mensyaratkan Perusahaan untuk,antara lain, mengusahakan rasio lancar minimalsebesar 1 kali dan rasio utang terhadap ekuitasmaksimal sebesar 2,5 kali. Fasilitas ini diberikantanpa jaminan (clean-basis).

These facilities require the Company, amongothers, to reach the minimum current ratio at1 time and the maximum debt to equity ratio at 2.5times. These facilities are provided on a clean-basis.

Pada tanggal 31 Desember 2019 dan 2018,saldo terutang fasilitas pinjaman ini masing-masing sebesar RpNihil dan Rp16.268.

On December 31, 2019 and 2018, the outstandingbalance of these loan facilities amounted to RpNiland Rp16,268, respectively.











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c. PT Bank ICBC Indonesia (“ICBC”) c. PT Bank ICBC Indonesia (“ICBC”)

Berdasarkan perjanjian kredit tanggal21 Oktober 2015, Perusahaan memperolehfasilitas Omnibus Uncommitted untukmembiayai keperluan Perusahaan yang terdiridari pinjaman tetap on-demand (“PTD”), LC,SKBDN, TR dan BG dengan batas maksimumgabungan sebesar $AS20.000.000.

Based on a credit agreement datedOctober 21, 2015, the Company obtainedUncommitted Ombinus facilities to finance theCompany’s expenditure consisting of on-demandfixed loan (“PTD”), LC, SKBDN, TR and BG witha maximum combined limit of US$20,000,000.

Pada tanggal 21 September 2016 dilakukanperpanjangan dan penambahan ETSA sebagaiCo-Borrower dengan maksimal penarikansebesar $AS5.000.000.

As of September 21, 2016, the facilities have beenextended and amended with ETSA as Co-Borrower with maximum amount ofUS$5,000,000.

Fasilitas PTD dikenakan bunga sebesar biayapendanaan ICBC ditambah marjin tertentu pertahun untuk penarikan dalam Dolar AS dansebesar suku bunga tetap tertentu per tahununtuk penarikan dalam Rupiah, sementarafasilitas UPAS/UFAM dan TR dikenakan bungasebesar biaya pendanaan ICBC ditambahmarjin tertentu per tahun. Fasilitas ini akan jatuhtempo sampai dengan tanggal31 Oktober 2020.

The PTD facility bears interest at the rate of costof fund of ICBC plus certain margin per annum forwithdrawal in US Dollar and at certain fixed rateper annum for withdrawal in Rupiah, while theUPAS/UFAM and TR facilities bear interest at therate of cost of fund of ICBC plus certain marginper annum. These facilities will mature up toOctober 31, 2020.

Fasilitas ini mensyaratkan Perusahaan untuk,antara lain, memelihara rasio total utangterhadap EBITDA maksimal sebesar 4 kali.Fasilitas ini diberikan tanpa jaminan(clean-basis).

These facilities require the Company, amongothers, to maintain the maximum total debt toEBITDA ratio at 4 times. These facilities areprovided on a clean-basis.

Pada tanggal 31 Desember 2019 dan 2018,saldo terutang fasilitas pinjaman ini sebesar$ASNihil dan $AS15.000.000 (masing-masingsetara dengan RpNihil dan Rp217.215).

As of December 31, 2019 and 2018, theoutstanding balance of these loan facilitiesamounted to US$Nil and US$15,000,000(equivalent to RpNil and Rp217,215,respectively).

d. PT Bank Mizuho Indonesia (“Mizuho”) d. PT Bank Mizuho Indonesia (“Mizuho”)

Berdasarkan perjanjian kredit tanggal23 November 2015 yang terakhir kali diubahpada tanggal 23 November 2016, Perusahaanmemperoleh fasilitas kredit untuk keperluanpenjaminan dan modal kerja yang terdiri dariLC/SKBDN, TR, kredit modal kerja danBG/SBLC dengan batas maksimum gabungansebesar $AS10.000.000.

Based on a credit agreement datedNovember 23, 2015 which was amanded onNovember 23, 2016, the Company obtained creditfacilities for guarantee and working capitalpurposes consisting of LC/SKBDN, TR, workingcapital credit and BG/SBLC with a maximumcombined limit of US$10,000,000.

Fasilitas ini dikenakan bunga sebesar LIBORditambah marjin tertentu per tahun danberjangka waktu sampai dengan tanggal 23April 2020.

These facilities bear interest at the rate of LIBORplus certain margin per annum and are availableuntil April 23, 2020.











62


d. PT Bank Mizuho Indonesia (“Mizuho”)(lanjutan)

d. PT Bank Mizuho Indonesia (“Mizuho”)(continued)

Fasilitas ini mensyaratkan Perusahaan untuk,antara lain, memelihara rasio utang berbungaterhadap EBITDA maksimal sebesar 4 kali,serta tidak melakukan tindakan-tindakantertentu tanpa memperoleh persetujuan tertulisterlebih dahulu dari Mizuho. Fasilitas inidiberikan tanpa jaminan (clean-basis).

These facilities require the Company, amongothers, to maintain the maximum interest-bearingdebt to EBITDA ratio at 4 times, and not toperform certain actions without prior writtenapproval from Mizuho. These facilities areprovided on a clean-basis.

Pada tanggal 31 Desember 2019 dan 2018,saldo terutang fasilitas pinjaman ini masing-masing $ASNihil dan $AS9.000.000 (masing-masing setara dengan RpNihil dan Rp130.329).

As of December 31, 2019 and 2018, theoutstanding balances of these loan facilitiesamounted to US$Nil and US$9,000,000(equivalent to RpNil and Rp130,329,respectively).

e. PT Bank Rakyat Indonesia (Persero) Tbk(“BRI”)

e. PT Bank Rakyat Indonesia (Persero) Tbk(“BRI”)

Berdasarkan perjanjian tanggal 27 September2017 yang terakhir kali diubah pada tanggal25 Oktober 2019, Perusahaan memperolehfasilitas penjaminan bank yang terdiri dariBG/SBLC dengan batas maksimum sebesar$AS15.000.000 dan interchangeablepenangguhan jaminan impor (“PJI”)KMKI/TRdan Supply Chain Financing Account Payable(SCF AP).

Based on an agreement datedSeptember 27, 2017, with latest amandment onOctober 25, 2019, the Company obtained bankguarantee facilities consisting of BG/SBLC with amaximum limit of US$15,000,000 andinterchangeable preshipment import financing(“PJI”)/KMKI/TR and Supply Chain FinancingAccount Payable (SCF AP).

Berdasarkan perjanjian kredit tanggal5 Februari 2016, Perusahaan memperolehfasilitas kredit modal kerja impor/TR denganbatas maksimum sebesar $AS5.000.000 untukmem-back-up fasilitas PJI dan menampungLC/SKBDN yang telah jatuh tempo. Fasilitas inidikenakan bunga dengan suku bunga tetaptertentu. Fasilitas PJI bersifat interchangeabledengan fasilitas kredit modal kerja impor/TR.

Based on a credit agreement datedFebruary 5, 2016, the Company obtained importworking capital/TR facilities with a maximum limitof US$5,000,000 to back-up the PJI facility and toresettle the LC/SKBDN that has been due. Thesefacilities bear interest at certain fixed rate. The PJIfacility is interchangeable with the import workingcapital credit/TR facilities.

Fasilitas-fasilitas tersebut berjangka waktusampai dengan tanggal 27 September 2020.Fasilitas-fasilitas tersebut mensyaratkanPerusahaan untuk, antara lain, tidak melakukantindakan-tindakan tertentu tanpa memperolehpersetujuan tertulis terlebih dahulu dari BRI.Fasilitas-fasilitas tersebut diberikan tanpajaminan (clean-basis).

These facilities are available untilSeptember 27, 2020. These facilities require theCompany, among others, not to perform certainactions without prior written approval from BRI.These facilities are provided on a clean-basis.

Pada tanggal 31 Desember 2019 dan 2018,saldo terutang fasilitas pinjaman ini masing-masing sebesar $ASNihil dan $AS1.894.000(masing-masing setara dengan RpNihil danRp27.427).

As of December 31, 2019 and 2018, theoutstanding balance of these loan facilitiesamounted to US$Nil and US$1,894,000(equivalent RpNil and Rp27,427, respectively).











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f. PT Bank UOB Indonesia f. PT Bank UOB Indonesia

Berdasarkan perjanjian kredit tanggal3 Desember 2015 yang terakhir kali diubahtanggal 25 Januari 2018, Perusahaanmemperoleh fasilitas Multi Option Trade untukkeperluan modal kerja yang terdiri dariLC/SKBDN, TR, Clean Trust Receipt (“CTR”),Invoice Financing (“IF”) dan SBLC/BG denganbatas maksimum gabungan sebesar$AS20.000.000.

Based on a credit agreement datedDecember 3, 2015 which was amended onJanuary 25, 2018, the Company obtained MultiOption Trade facilities for working capitalpurposes consisting of LC/SKBDN, TR, CleanTrust Receipt (“CTR”), Invoice Financing (“IF”)and SBLC/BG with a maximum combined limit ofUS$20,000,000.

Fasilitas TR, CTR dan IF dikenakan bungasebesar LIBOR ditambah marjin tertentu pertahun untuk penarikan dalam Dolar AS danJIBOR ditambah marjin tertentu per tahun untukpenarikan dalam Rupiah. Fasilitas ini berjangkawaktu sampai dengan tanggal 3 Desember2020.

The TR, CTR and IF facilities bear interest at therate of LIBOR plus certain margin per annum forwithdrawal in US Dollar and JIBOR plus certainmargin per annum for withdrawal in Rupiah.These facilities are available until December 3,2020.

Fasilitas ini mensyaratkan Perusahaan untuk,antara lain, memelihara rasio pengembalianutang minimal sebesar 1,25 kali dan rasio utangbruto terhadap EBITDA maksimal sebesar 4kali. Fasilitas ini diberikan tanpa jaminan (clean-basis).

These facilities require the Company, amongothers, to maintain the minimum debt servicecoverage ratio at 1.25 times and the maximumgross debt to EBITDA ratio at 4 times. Thesefacilities are provided on a clean-basis.

Pada tanggal 31 Desember 2019 dan 2018,saldo terutang fasilitas pinjaman ini masing-masing sebesar $AS960.951 (setara denganRp13.358) dan Rp6.439 serta RpNihil dan$ASNihil.

As of December 31, 2019 and 2018, theoutstanding balances of these loan facilitiesamounted to US$960,951 (equivalent toRp13,358) and Rp6,439 and RpNil and US$Nil,respectively.

g. PT Bank Mandiri (Persero) Tbk g. PT Bank Mandiri (Persero) Tbk

Berdasarkan perjanjian kredit tanggal16 November 2018, Perusahaan memperolehfasilitas non cash loan yang terdiri dari StandbyLetter of Credit (“SBLC”)/Bank Garansi (“BG”),dan Letter of Credit (“LC”)/Surat KreditBerdokumen Dalam Negeri (“SKBDN”) denganbatas maksimum gabungan sebesar$AS20.000.000 dan batas maksimum TrustReceipt (“TR”) sebesar $AS12.000.000.

Based on a credit agreement datedNovember 16, 2018, the Company obtained annon cash loan facility consisting of Standby Letterof Credit (“SBLC”)/Bank Guarantee (“BG”) andLetter of Credit (“LC”)/Surat Kredit BerdokumenDalam Negeri (“SKBDN”) with a maximumcombined limit of US$20,000,000 and TrustReceipt (“TR”) with a maximum limit ofUS$12,000,000.

Fasilitas ini dapat digunakan oleh entitas anakdan grup usaha Perusahaan.

These facilities could be used by the Company’ssubsidiaries and business groups.

Fasilitas ini dikenakan bunga yang sukubunganya akan ditetapkan secara negosiasipada saat realisasi dan fasilitas ini berjangkawaktu sampai dengan tanggal 15 November2020.

These facilities bear interest at the rate which willbe determined through negotiation on withdrawaland these facilities are available untilNovember 15, 2020.











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g. PT Bank Mandiri (Persero) Tbk (lanjutan) g. PT Bank Mandiri (Persero) Tbk (continued)

Fasilitas ini mensyaratkan Perusahaan untuk,antara lain, mengusahakan rasio lancar minimalsebesar 1 kali, rasio utang terhadap ekuitasmaksimal sebesar 3 kali dan rasiopengembalian utang minimal sebesar 1,1 kali.Fasilitas ini diberikan tanpa jaminan (clean-basis).

These facilities require the Company, amongothers, to reach the minimum current ratio at1 time, the maximum debt to equity ratio at 2.5times, and the minimum debt service coverageratio at 1,1 time. These facilities are provided ona clean-basis.

Pada tanggal 31 Desember 2019 dan 2018,saldo terutang fasilitas pinjaman ini masing-masing sebesar AS$Nihil.

As of Desember 31, 2019 and 2018, theoutstanding balance of these loan facilitiesamounted to US$Nil respectively.

Pada tanggal 31 Desember 2019 dan 2018, Gruptelah memenuhi seluruh pembatasan yang diaturdalam perjanjian pinjaman.

As of Desember 31, 2019 and 2018, the Group hascomplied with all covenants as required by the loanagreements.

Tingkat suku bunga kontraktual pinjaman bankjangka pendek adalah sebagai berikut:

Contractual interest rates on short-term bank loans areas follows:



2019 2018

Rupiah RupiahPinjaman pada suku bunga mengambang 6,65% - 8,99% 6,50% - 10,5% Loans at floating interest rate

Dolar AS US DollarPinjaman pada suku bunga mengambang 2,16% - 2,93% 1,90% - 3,15% Loans at floating interest rate

16. UTANG USAHA 16. TRADE PAYABLES

Rincian utang usaha berdasarkan pemasok adalahsebagai berikut:

The details of trade payables based on vendors are asfollows:


2019 2018

Pihak ketiga 448.171 257.084 Third partiesPihak berelasi (Catatan 30f) 244.626 260.386 Related parties (Note 30f)

Total 692.797 517.470 Total

Rincian utang usaha berdasarkan mata uang adalahsebagai berikut:

The details of trade payables based on currencies areas follows:


2019 2018

Rupiah 652.929 464.330 RupiahDolar AS 33.423 51.050 US DollarDolar Singapura 5.403 2.090 Singapore DollarEuro 1.042 - Euro

Total 692.797 517.470 Total











65

16. UTANG USAHA (lanjutan) 16. TRADE PAYABLES (continued)

Saldo utang usaha pada akhir tahun tidak memilikijaminan. Tidak ada surat jaminan yang diberikanmaupun diterima untuk utang usaha.

Outstanding balances of trade payables at the end ofthe year are unsecured. There have been noguarantees provided or received for any tradepayables.

17. LIABILITAS JANGKA PENDEK LAINNYA 17. OTHER CURRENT LIABILITIES

Liabilitas jangka pendek lainnya terdiri dari: Other current liabilities consist of:


2019 2018

Titipan pelanggan 28.033 23.962 Customer depositsUtang lain-lain 16.259 15.812 Other payablesPendapatan diterima di muka 10.786 14.899 Unearned income


18. PERPAJAKAN 18. TAXATION

a. Pajak dibayar di muka a. Prepaid taxes

Pajak dibayar di muka terdiri dari: Prepaid taxes consist of:


2019 2018

Pajak penghasilan badan: Corporate income tax:Tahun berjalan 38.064 47.624 Current yearTahun-tahun sebelumnya 57.751 28.537 Prior years

Pajak Pertambahan Nilai: Value Added Tax:Tahun berjalan 483.366 366.535 Current yearTahun-tahun sebelumnya 263.448 458.603 Prior years

Total 842.629 901.299 Total

Bagian lancar 350.353 574.087 Current portion

Bagian tidak lancar 492.276 327.212 Non-current portion

Pada tahun 2019 dan 2018, Grup menerimasejumlah surat ketetapan pajak terkait denganrestitusi pajak yang diajukan (Catatan 18e).

In 2019 and 2018, the Group received several taxassessment letters in relation to its claims for taxrefund (Note 18e).











66

18. PERPAJAKAN (lanjutan) 18. TAXATION (continued)

b. Utang pajak b. Taxes payable

Utang pajak terdiri dari: Taxes payable consists of:


2019 2018

Pajak penghasilan badan: Corporate income tax:Tahun berjalan 21.879 4.960 Current year

Pajak lain-lain: Other taxes:Pajak final pasal 4 (2) 1.392 461 Final tax article 4 (2)Pajak final pasal 15 586 298 Final tax article 15Pajak penghasilan pasal 21 19.479 3.869 Income tax article 21Pajak penghasilan pasal 22 333 829 Income tax article 22Pajak penghasilan pasal 23 3.326 2.041 Income tax article 23Pajak penghasilan pasal 25 20 - Income tax article 25Pajak penghasilan pasal 26 1.279 323 Income tax article 26Pajak Pertambahan Nilai 25.130 15.999 Value Added Tax


Berdasarkan Peraturan Menteri KeuanganNo. 37/PMK.03/2015 tanggal 4 Maret 2015,Perusahaan ditunjuk sebagai pemungut PajakPertambahan Nilai (“PPN”) efektif tanggal1 April 2015. Dengan adanya peraturan ini,Perusahaan memungut, menyetor danmelaporkan PPN yang terutang ataspenyerahan barang dan jasa oleh pihak lainkepada Perusahaan.

Based on the Finance Minister RegulationNo. 37/PMK.03/2015 dated March 4, 2015, theCompany was appointed as Value Added Taxcollector effective April 1, 2015. As such, theCompany collects, pays and reports the VATarising from the sales of goods and services byother parties to the Company.

Berdasarkan Peraturan Menteri KeuanganNo. 107/PMK.10/2015 tanggal 8 Juni 2015,Perusahaan ditunjuk sebagai pemungut pajakpenghasilan pasal 22 efektif tanggal8 Agustus 2015.

Based on the Finance Minister RegulationNo. 107/PMK.10/2015 dated June 8, 2015, theCompany was appointed as income tax article 22collector effective August 8, 2015.

Saldo utang pajak termasuk PPN dan pajakpenghasilan pasal 22 yang belum disetor ke kasnegara atas kewajiban ini.

The balances of taxes payable include the VATand income tax article 22 which have not yet beenpaid to the treasury fund arising from suchobligation.

c. Beban pajak penghasilan c. Income tax expense

Beban pajak penghasilan terdiri dari: Income tax expense consists of:



2019 2018

Beban pajak kini: Current tax expenses:Tahun berjalan 122.948 89.119 Current yearPenyesuaian atas hasil surat

ketetapan pajak 1.621 - Adjustment for tax assessment letter

124.569 89.119Manfaat pajak tangguhan (14.297) (13.628) Deferred tax benefit

Total 110.272 75.491 Total











67


c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)

Pajak penghasilan badan dihitung untukmasing-masing perusahaan sebagai entitasyang terpisah secara hukum.

Corporate income tax is calculated for eachindividual company as a separate legal entity.

Rekonsiliasi antara beban pajak penghasilandengan jumlah teoritis beban pajak penghasilanyang dihitung berdasarkan laba sebelum pajakpenghasilan dengan menggunakan tarif pajakyang berlaku adalah sebagai berikut:

Reconciliation between income tax expenses andthe theoretical tax amount on profit before incometax using the applicable tax rate is as follows:



2019 2018

Laba sebelum pajak penghasilan -konsolidasian 466.749 351.807 Profit before income tax - consolidated

Dikurangi: Laba sebelum pajakpenghasilan - entitas anak (408.217) (384.688) Less: Profit before income tax - subsidiaries

Laba (Rugi) sebelum pajak penghasilan - Profit (Loss) before income taxPerusahaan 58.532 (32.881) - the Company

Ditambah (dikurangi): Rugi (laba) dari Add (less): Loss (profit)pendapatan yang dikenakan from revenue subject to final taxpajak final - Perusahaan 4.381 9.285 - the Company

Laba (Rugi) yang dikenakan pajak Profit (Loss) subject topenghasilan - Perusahaan 62.913 (23.596) income tax - the Company

Pajak penghasilan dihitung dengan Income tax calculated attarif yang berlaku 20% 12.583 (4.719) applicable rate 20%

Dampak perbedaan permanen: Effect of permanent differences:Beban yang tidak dapat dikurangkan

untuk tujuan perpajakan 5.140 3.243 Non-deductible expensesLaba penjualan asset tetap 145 - Gain on sale of fixed assetPenghasilan bunga yang

dikenakan pajak final (743) (1.010) Interest income subject to final tax

Perusahaan 17.125 (2.486) The CompanyEntitas anak 93.147 77.977 Subsidiaries

Beban pajak penghasilan 110.272 75.491 Income tax expenses











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Rekonsiliasi antara laba sebelum pajakpenghasilan dengan taksiran penghasilan kenapajak adalah sebagai berikut:

Reconciliation between profit before income taxand estimated taxable income is as follows:



2019 2018

Laba sebelum pajak penghasilan -konsolidasian 466.749 351.807 Profit before income tax - consolidated

Dikurangi: Laba sebelum pajakpenghasilan - entitas anak (408.217) (384.688) Less: Profit before income tax - subsidiaries

Laba (Rugi) sebelum pajak penghasilan - Profit (Loss) before income taxPerusahaan 58.532 (32.881) - the Company

Ditambah (dikurangi): Rugi (laba) daripendapatan yang dikenakan Add (less): Loss (profit) from revenuepajak final - Perusahaan 4.381 9.285 subject to final tax - the Company

Laba (Rugi) yang dikenakan pajak Profit (Loss) subjectpenghasilan - Perusahaan 62.913 (23.596) to income tax - the Company

Perbedaan temporer: Temporary differences:Penyusutan aset tetap 31.229 36.348 Fixed assets depreciationGaji, upah dan kesejahteraan

karyawan 20.612 24.034 Salaries, wages and employee benefitsLiabilitas imbalan kerja 9.628 2.312 Employee benefits liabilityPenyisihan penurunan nilai (5.508) (1.867) Allowance for impairment

Perbedaan permanen: Permanent differences:Beban yang tidak dapat dikurangkan

untuk tujuan perpajakan 25.701 16.217 Non-deductible expensesLaba penjualan asset tetap 726 - Gain on sale of fixed assetPenghasilan bunga yang

dikenakan pajak final (3.715) (5.052) Interest income subject to final tax

Taksiran penghasilan Estimated taxable income -kena pajak - Perusahaan 141.586 48.396 the Company











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Perhitungan beban pajak kini - periode/tahunberjalan dan taksiran lebih bayar dan kurangbayar pajak penghasilan badan adalah sebagaiberikut:

The calculation of current tax expense - currentperiod/year and estimated overpayment andunderpayment of corporate income tax is asfollows:



2019 2018

Beban pajak kini - tahun berjalan: Current tax expenses - current year:Perusahaan 28.318 9.679 The CompanyEntitas anak 94.630 79.440 Subsidiaries

122.948 89.119

Dikurangi: Pembayaran di muka Less: Prepayment of incomepajak penghasilan: taxes:Perusahaan (63.345) (46.998) The CompanyEntitas anak (75.788) (84.785) Subsidiaries

(139.133) (131.783)

Taksiran lebih bayar Estimated overpayment ofpajak penghasilan: income tax:Perusahaan 35.027 37.319 The CompanyEntitas anak 3.037 10.305 Subsidaries

38.064 47.624

Taksiran kurang bayar Estimated underpayment ofpajak penghasilan: income tax:Entitas anak 21.879 4.960 Subsidaries

Perhitungan taksiran penghasilan kena pajakpada akhir tahun menjadi dasar dalampengisian Surat Pemberitahuan Tahunan PajakPenghasilan Badan.

The calculation of estimated taxable income at theend of year is used as a basis in filling the annualcorporate income tax return.

Berdasarkan undang-undang perpajakan yangberlaku di Indonesia, entitas-entitas di dalamGrup menghitung dan membayar sendiribesarnya jumlah pajak yang terutang. DirektoratJenderal Pajak dapat menetapkan ataumengubah liabilitas pajak dalam batas waktu 5(lima) tahun sejak saat terutangnya pajak.

Under the taxation laws of Indonesia, entitieswithin the Group calculate and pay tax on thebasis of self assessment. The Directorate Generalof Tax may assess or amend tax liabilities within5 (five) years of the time the tax becomes due.











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d. Aset pajak tangguhan d. Deferred tax assets

Mutasi aset pajak tangguhan adalah sebagaiberikut:

The movements in deferred tax assets are asfollows:


Dibebankan ke/Charged to

PenghasilanSaldo komprehensif Saldoawal/ lain/Other akhir/

Beginning Laba (rugi)/ comprehensive Endingbalance Profit (loss) income balance

Penyusutan aset tetap 51.628 7.141 - 58.769 Fixed assets depreciationPenyisihan penurunan nilai Allowance for impairment of

aset keuangan 36.885 2.647 - 39.532 financial assetsBeban akrual untuk bonus 9.503 4.620 - 14.123 Accrued expense for bonusesLiabilitas imbalan kerja 6.919 3.187 3.617 13.723 Employee benefits liabilityPenyisihan persediaan Allowance for inventory

usang 5.066 (3.377) - 1.689 obsolescenceLain-lain (masing-masing

di bawah Rp5.000) (317) 79 - (238) Others (each below Rp5,000)

Total 109.684 14.297 3.617 127.598 Total


Dibebankan ke/Charged to

PenghasilanSaldo komprehensif Saldoawal/ lain/Other akhir/

Beginning Laba (rugi)/ comprehensive Endingbalance Profit (loss) income balance

Penyusutan aset tetap 40.886 10.742 - 51.628 Fixed assets depreciationPenyisihan penurunan nilai Allowance for impairment of

aset keuangan 34.269 2.616 - 36.885 financial assetsBeban akrual untuk bonus 2.980 6.523 - 9.503 Accrued expense for bonusesLiabilitas imbalan kerja 11.163 (324) (3.920) 6.919 Employee benefits liabilityPenyisihan persediaan Allowance for inventory

usang 7.302 (2.236) - 5.066 obsolescenceLain-lain (masing-masing

di bawah Rp5.000) 3.376 (3.693) - (317) Others (each below Rp5,000)

Total 99.976 13.628 (3.920) 109.684 Total

e. Hasil pemeriksaan pajak signifikan e. Significant tax assessment

Perusahaan The company

Pada tahun 2019, Perusahaan menerimapengembalian lebih bayar pajak atas pajakpenghasilan badan untuk tahun pajak 2017.Setelah dikompensasikan dengan kurang bayarpajak serta surat tagihan pajak untuk masayang sama, jumlah yang diterima sebesarRp21.403. Grup mengakui pendapatan sebesarRp189 sehubungan dengan restitusi tersebutdalam laba rugi tahun 2019.

In 2019, the Company received refund onoverpayment of corporate income tax for fiscalyear 2017. After being compensated withunderpayment and notice of tax collection for thesame tax periods, the net refund receivedamounted to Rp21,403. The Group recognizedincome amounted Rp189 related to such refundin profit or loss for 2019.











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e. Hasil pemeriksaan pajak signifikan(lanjutan)

e. Significant tax assessment (continued)

Perusahaan The Company

Selain itu, pada tahun 2019, Perusahaanmenerima pengembalian lebih bayar pajak atasPPN untuk berbagai masa pajak di tahun pajak2015, 2016 dan 2017. Setelahdikompensasikan dengan kurang bayar pajakserta surat tagihan pajak untuk masa yangsama, jumlah yang diterima sebesarRp347.029. Atas surat tagihan pajak terkaitpengembalian pajak tersebut, Perusahaanmengajukan permohonan pengurangan ataupembatalan kepada Kantor Pajak sebesarRp8.782. Sampai dengan diterbitkannyalaporan keuangan konsolidasian, pengajuan inimasih dalam proses penanganan keberatan diKantor Pajak.

Furthermore, in 2019, the Company receivedrefund on overpayment of VAT for various taxperiods in fiscal year 2015, 2016 and 2017. Afterbeing compensated with underpayment of varioustaxes and notice of tax collection for the same taxperiods, the net refund received amounted toRp347,029. For the related notice of taxcollection, the Company submitted request forreduction or cancellation to the Tax Officeamounted Rp8,782. As of the issuance of theconsolidated financial statements, the submissionis still in process of appeal handling in the TaxOffice.

EPN, PND, ETSA EPN, PND, ETSA

Pada tahun 2019, EPN, PND dan ETSAmenerima pengembalian lebih bayar pajak atasbeberapa jenis pajak untuk berbagai tahunpajak. Setelah dikompensasikan dengankurang bayar serta surat tagihan pajakbeberapa jenis pajak untuk tahun pajak yangsama, jumlah yang diterima sebesarRp156.605. Grup mengakui beban sebesarRp3.692 sehubungan dengan restitusi tersebutdalam laba rugi tahun 2019.

In 2019, EPN, PND and ETSA received refund onoverpayment of certain taxes for various fiscalyear. After being compensated withunderpayment of various taxes and notice of taxcollection for the same fiscal year, the net refundreceived amounted to 156,605. The Grouprecognized expenses amounting to Rp3,692related to such refund in profit or loss for 2019.

f. Beban pajak final f. Final tax expense

Beban pajak final timbul dari pajak final ataspendapatan jasa penyewaan ruangan kantordan tongkang, serta penjualan bahan bakar.

Final tax expense arises from final taxes onrevenue from rental of office space and barges,and sales of fuel.

19. BEBAN AKRUAL 19. ACCRUED EXPENSES

Beban akrual terdiri dari: Accrued expenses consist of:


2019 2018

Jasa subkontrak 379.118 247.659 Sub-contract servicesBeban proyek 327.362 278.230 Project expensesPembelian persediaan 143.997 123.729 Purchase of inventoriesSewa dan fasilitas kantor 108.871 143.908 Rental and office facilitiesJasa profesional 5.531 1.669 Professional servicesLain-lain (masing-masing di bawah Rp5.000) 39.521 26.884 Others (each below Rp5,000)

Total 1.004.400 822.079 Total











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20. PINJAMAN BANK JANGKA PANJANG 20. LONG-TERM BANK LOANS

Pinjaman bank jangka panjang terdiri dari: Long-term bank loans consist of:


2019 2018

Dolar AS US DollarPinjaman Sindikasi 677.674 217.215 Syndicated Loan

Rupiah RupiahPinjaman Sindikasi 144.780 - Syndicated Loan

Total pinjaman bank 822.454 217.215 Total bank loansBiaya pinjaman yang belum diamortisasi (4.716) (4.665) Unamortized costs of loan

Neto 817.738 212.550 Net

Bagian lancar Current portionPinjaman bank 241.009 - Bank loansBiaya pinjaman yang belum diamortisasi (1.430) Unamortized costs of loans

Neto 239.579 - Net

Bagian tidak lancar Non-current portionPinjaman bank 581.445 217.215 Bank loansBiaya pinjaman yang belum diamortisasi (3.286) (4.665) Unamortized costs of loans

Neto 578.159 212.550 Net

a. Pinjaman Sindikasi a. Syndicated Loans

Pada tanggal 22 Februari 2018, Perusahaandan entitas anak (EPN dan ETSA) memperolehfasilitas kredit sindikasi dari PT Bank SumitomoMitsui Indonesia, The Bank of Tokyo-MitsubishiUFJ Ltd., Cabang Jakarta, PT Bank ICBCIndonesia dan PT Bank UOB Indonesia, yangterbagi dalam 3 (tiga) tranche, yaitu:

As of February 22, 2018, the Company andSubsidiaries (EPN and ETSA) obtainedSyndicated Loan facilities from PT BankSumitomo Mitsui Indonesia, The Bank of Tokyo-Mitsubishi UFJ Ltd., Jakarta Branch, PT BankICBC Indonesia and PT Bank UOBIndonesia,which are divided into 3 (three)tranches as follows:

Tranche A

Tranche A dengan batas maksimum sebesar$AS30.000.000 dan akan jatuh tempo dalamwaktu 60 (enam puluh) bulan sejak tanggalperjanjian. Pinjaman ini akan dibayarkanmelalui cicilan bulanan sebanyak 48 (empatpuluh delapan) kali dimulai setelah 13 (tigabelas) bulan sejak tanggal perjanjian ini.

Tranche A

Tranche A with a maximum limit facility ofUS$30,000,000 and will mature in 60(sixty)months since the date of agreement. The loan willbe paid through 48 (forty eight) monthlyinstallment starting 13 (thirteen) months after thedate of this agreement.

Tranche B1

Tranche B1 dalam mata uang Dolar AS denganbatas maksimum sebesar $AS25.000.000 danakan jatuh tempo dalam waktu 60 (enam puluh)bulan sejak tanggal perjanjian. Pinjaman iniakan dibayarkan melalui cicilan bulanansebanyak 36 (tiga puluh enam) kali dimulaisetelah 25 (dua puluh lima) bulan sejak tanggalperjanjian ini.

Tranche B1

Tranche B1 in US Dollar currency with maximumlimit facilities of US$25,000,000 and will mature in60 (sixty) months since the date of agreement.The loan will be paid through 36 (thirty six)monthly installment starting 25 (twenty five)months after the date of this agreement.











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20. PINJAMAN BANK JANGKA PANJANG (lanjutan) 20. LONG-TERM BANK LOANS (continued)

a. Pinjaman Sindikasi (lanjutan) a. Syndicated Loans (continued)

Tranche B2

Tranche B2 dalam mata uang Rupiah denganbatas maksimum setara dengan$AS25.000.000 dan akan jatuh tempo dalamwaktu 60 (enam puluh) bulan sejak tanggalperjanjian. Pinjaman ini akan dibayarkanmelalui cicilan bulanan sebanyak 36 (tiga puluhenam) kali dimulai setelah 25 (dua puluh lima)bulan sejak tanggal perjanjian ini.

EPN dan ETSA memperoleh fasilitas TrancheB1 dan Tranche B2 dengan batas maksimummasing-masing sebesar $AS20.000.000 dan$AS8.000.000.

Tranche B2

Tranche B2 in Rupiah currency with maximumlimit facility equivalent to US$25,000,000 and willmature in 60 (sixty) months since the date ofagreement. The loan will be paid through 36 (thirtysix) monthly installment starting 25 (twenty five)months after the date of this agreement.

EPN and ETSA obtained Tranche B1 and TrancheB2 facility with maximum limit of US$20,000,000and US$8,000,000, respectively.

Fasilitas-fasilitas tersebut diberikan untukkeperluan investasi dan dikenakan bungasebesar 1,68% per tahun ditambah LIBORuntuk pinjaman dalam mata uang Dólar AS dan2,85% per tahun ditambah JIBOR untukpinjaman dalam mata uang Rupiah. Dalam halJIBOR dibawah 4,65%, maka JIBOR dianggap4,65%.

These facilities obtained for investment purposesand bear interest of 1.68% per annual plus LIBORfor loan in US Dollar and 2.85% per annual plusJIBOR for loan in Rupiah. In the event whenJIBOR falls under 4.65%, JIBOR will be deemed4.65%..

Fasilitas-fasilitas tersebut mensyaratkanPerusahaan untuk, antara lain, memelihararasio utang berbunga terhadap EBITDAmaksimal sebesar 4 kali dan rasiopengembalian utang minimal sebesar 1,1 kali,serta tidak melakukan tindakan-tindakantertentu tanpa memperoleh persetujuan tertulisterlebih dahulu dari Sindikasi.

These facilities require the Company, amongothers, to maintain the maximum interet-bearingdebt to EBITDA ratio at 4 times and the minimumdebt service coverage ratio at 1.1 times, and notto perform certain actions without prior writtenapproval from Syndicated.

Fasilitas-fasilitas tersebut diberikan tanpajaminan (clean-basis).

These facilities are provided on a clean-basis.

Saldo terutang atas fasilitas-fasilitas pinjamanini masing-masing sebesar Tranche A:$AS23.750.000 (setara dengan Rp330.149),Tranche B1: $AS25.000.000 (setara denganRp347.525) dan Tranche B2: Rp144.780 padatanggal 31 Desember 2019, dan sebesarTranche B1: $AS15.000.000 (setara denganRp217.215) pada tanggal 31 Desember 2018.

The outstanding balance of these loan facilitieseach amounted to Tranche A: US$23,750,000(equivalent to Rp330,149), Tranche B1:US$25,000,000 (equivalent to Rp347,525) andTranche B2: Rp144,780 as of December 31,2019, respectively, and amounted to Tranche B1:US$15,000,000 (equivalent to Rp217,215) as ofDecember 31, 2018.











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20. PINJAMAN BANK JANGKA PANJANG (lanjutan) 20. LONG-TERM BANK LOANS (continued)

Pada tanggal 31 Desember 2019 dan 2018, Gruptelah memenuhi seluruh pembatasan yang diaturdalam perjanjian pinjaman.

As of December 31, 2019 and 2018, the Group hascomplied with all covenants as required by the loanagreements.

Tingkat suku bunga kontraktual pinjaman bankjangka panjang adalah sebagai berikut:

Contractual interest rates on long-term bank loans areas follows:



2019 2018

Rupiah RupiahPinjaman pada suku bunga tetap - 12,00% Loans at fixed interest ratePinjaman pada suku bunga mengambang 8,16% 12,00% Loans at floating interest rate

Dolar AS US DollarPinjaman pada suku bunga mengambang 3,40% 3,68% - 4,53% Loans at floating interest rate

21. PENDAPATAN DITANGGUHKAN 21. DEFERRED INCOME

Pendapatan ditangguhkan merupakan selisih antaranilai buku aset tetap sewa pembiayaan denganjumlah penerimaan minimum sewa pembiayaan.

Deferred income is the difference between the bookvalue of fixed assets under finance lease with theminimum amount received from finance lease.


2019 2018

Pendapatan tangguhan Deferred income(Catatan 30g dan 31b) 101.650 - (Note 30g and 31b)

Bagian lancar 10.700 - Current portion

Total setelah dikurangi bagian lancar 90.950 - Total net of current portion

22. IMBALAN KERJA 22. EMPLOYEE BENEFITS

Aset program imbalan pensiun (liabilitas imbalankerja) yang diakui dalam laporan posisi keuangankonsolidasian adalah sebagai berikut:

Pension benefit plan assets (employee benefitsliability) recognized in the consolidated statement offinancial position are as follows:


2019 2018

Liabilitas imbalan kerja Employee benefits liabilityProgram imbalan pensiun - Asuransi 33.882 10.818 Pension benefits - InsuranceImbalan kerja jangka panjang lainnya 21.013 16.861 Other long-term employee benefits


Perhitungan aktuarial untuk tahun yang berakhirpada tanggal 31 Desember 2019 dan 2018dilakukan oleh PT Sentra Jasa Aktuaria, denganmenggunakan metode Projected Unit Credit.

The actuarial calculations for the years endedDecember 31, 2019 and 2018 were performed byPT Sentra Jasa Aktuaria, using the Projected UnitCredit method.











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22. IMBALAN KERJA (lanjutan) 22. EMPLOYEE BENEFITS (continued)

a. Program imbalan pensiun a. Pension benefits plan

Imbalan pensiun - Asuransi Pension benefits - Insurance

Grup menyelenggarakan program pensiunimbalan pasti untuk semua karyawan tetapyang dikelola oleh beberapa perusahaanasuransi.

The Group has a defined benefit pension plancovering all permanent employees which ismanaged by several insurance companies.

Asumsi-asumsi penting yang digunakan olehaktuaris dalam laporannya adalah sebagaiberikut:

The significant assumptions used by the actuaryin its reports are as follows:

Tingkat diskonto : 5,42% – 8,19% pada tahun 2019 dan 8.31% pada tahun 2018 : Discount rate5.42% – 8.19%% per annum in 2019 and 8.31% per annum in 2018

Tingkat kenaikan gaji : 7% per tahun / 7% per annum : Salary increase rateTingkat kematian : Tabel Kematian Indonesia III/ : Mortality rate

Indonesian Mortality Table IIIUsia pensiun Retirement age

Perusahaan, EFK, SCU, PND : 56 tahun / 56 years old : The Company, EFK, SCU, PNDEPN : 57 tahun / 57 years old : EPN

Tingkat pengunduran diri Resignation ratePerusahaan : 5% untuk karyawan yang berusia di bawah 30 tahun : The Company

dan akan menurun sampai 0% pada usia 46 tahun/5% for employees younger than 30 years old which

will decrease to 0% at the age of 46 years oldEPN : 1% untuk karyawan yang berusia di bawah 30 tahun : EPN


will decrease to 0% at the age of 47 years oldSCU : 1% untuk karyawan yang berusia di bawah 30 tahun : SCU


will decrease to 0% at the age of 54 years oldPND : 1% untuk karyawan yang berusia di bawah 30 tahun : PND


will decrease to 0% at the age of 46 years oldEFK : 1% untuk karyawan yang berusia di bawah 30 tahun : EFK


will decrease to 0% at the age of 54 years old

Jumlah yang diakui dalam laporan posisikeuangan konsolidasian adalah sebagaiberikut:

Amounts recognized in the consolidatedstatement of financial position are as follows:

31 Desember/December 31, 2019 31 Desember/December 31, 2018_

Entitas EntitasPerusahaan/ anak/ Jumlah/ Perusahaan/ anak/ Jumlah/

Company Subsidiaries Total Company Subsidiaries Total

Nilai kini kewajiban (162.721) (37.035) (199.756) (131.969) (30.428) (162.397) Present value of obligationNilai wajar aset program 141.053 24.821 165.874 135.865 19.610 155.475 Fair value of plan assets

Surplus (Defisit) (21.668) (12.214) (33.882) 3.896 (10.818) (6.922) Surplus (Deficit)Dampak batas atas aset - - - (3.896) - (3.896) Effect of asset ceiling

Surplus (liabilitas Surplus (employeeimbalan kerja) (21.668) (12.214) (33.882) - (10.818) (10.818) benefits liability)











76


a. Program imbalan pensiun (lanjutan) a. Pension benefits plan (continued)

Imbalan pensiun - Asuransi (lanjutan) Pension benefits - Insurance (continued)

Mutasi nilai kini kewajiban adalah sebagaiberikut:

The movements in present value of obligation areas follows:



2019 2018

Saldo awal (162.397) (172.395) Beginning balanceBiaya jasa kini (17.169) (13.955) Current service costBiaya bunga (13.495) (12.413) Interest costKeuntungan (kerugian) aktuarial (22.410) 31.126 Actuarial gains (losses)Imbalan yang dibayarkan 15.715 5.240 Benefits paid

Saldo akhir (199.756) (162.397) Ending balance

Mutasi nilai wajar aset program adalah sebagaiberikut:

The movements in fair value of plan assets are asfollows:



2019 2018

Saldo awal 155.475 144.929 Beginning balanceImbal hasil atas aset program 12.920 10.136 Return on plan assetsKeuntungan (kerugian) aktuarial 3.721 (11.553) Actuarial gains (losses)Iuran pemberi kerja 6.047 20.967 Employer’s contributionsImbalan yang dibayarkan (12.289) (9.004) Benefits paid


Rincian aset program adalah sebagai berikut: The details of plan assets are as follows:


2019 2018

Nilai wajar/ Nilai wajar/Fair value % Fair value %

Instrumen pasar uang 82.492 50 70.482 45 Money market instrumentsInstrumen pendapatan tetap 64.593 39 65.898 43 Fixed income instrumentsInstrumen ekuitas 18.789 11 19.095 12 Equity instruments

Total 165.874 100 155.475 100 Total











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Jumlah yang diakui dalam beban pokokpendapatan dan beban umum dan administrasiadalah sebagai berikut:

Amounts recognized in cost of revenues andgeneral and administrative expenses are asfollows:



2019 2018

Biaya jasa kini 17.169 13.955 Current service costBiaya bunga 13.495 12.413 Interest costBiaya bunga atas dampak batas aset 324 - Interest cost on effect of asset ceilingImbal hasil atas aset program (12.920) (10.136) Return on plan assets


Mutasi liabilitas imbalan kerja adalah sebagaiberikut:

The movements in employee benefits liability areas follows:

Perusahaan CompanyTahun yang berakhir pada tanggal

31 Desember/Year ended December 31

2019 2018

Saldo awal - 8.889 Beginning balanceBiaya diakui dalam laba rugi 13.698 14.190 Expense recognized in profit or lossBiaya (penghasilan) diakui dalam Expense (income) in

penghasilan komprehensif lain 15.671 (11.598) recognized other comprehensive incomeIuran pemberi kerja (5.447) (11.420) Employer’s contributionsImbalan yang dibayarkan (2.254) (61) Benefits paid

Saldo akhir 21.668 - Ending balance

Entitas anak SubsidiariesTahun yang berakhir pada tanggal

31 Desember/Year ended December 31

2019 2018

Saldo awal 10.818 18.577 Beginning balanceBiaya diakui dalam laba rugi 4.372 2.042 Expense recognized in profit or lossBiaya (penghasilan) diakui dalam Expense (income) recognized

penghasilan komprehensif lain (1.202) (4.081) in other comprehensive incomeIuran pemberi kerja (600) (9.547) Employer’s contributionsImbalan yang dibayarkan (1.174) (323) Benefits paidKoreksi aset - 4.150 Asset correction












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Jumlah yang diakui dalam penghasilankomprehensif lain adalah sebagai berikut:

Amounts recognized in other comprehensiveincome are as follows:



2019 2018

(Keuntungan) kerugian aktuarial 14.469 (15.679) Actuarial (gains) losses

Analisa sensitivitas atas perubahan asumsikeuangan adalah sebagai berikut:

Sensitivity analysis on the change of financialassumptions is as follows:


2019 2018

Kenaikan/ Penurunan/ Kenaikan/ Penurunan/Increase of Decrease of Increase of Decrease of

1% 1% 1% 1%

Perubahan tingkat diskonto Change in discount rateDampak pada nilai kini Effect on present value of

kewajiban (17.191) 19.776 (12.596) 14.542 obligationDampak pada biaya jasa

kini (1.835) 2.146 (1.387) 1.632 Effect on current service cost

Perubahan tingkat kenaikangaji Change in salary increase rateDampak pada nilai kini Effect on present value of

kewajiban 19.758 (17.275) 15.779 (13.756) obligationDampak pada biaya jasa

kini 2.107 (1.808) 1.763 (1.506) Effect on current service cost

Profil jatuh tempo pembayaran imbalan adalahsebagai berikut:

Maturity profile of benefit payments is as follows:


2019 2018

Kurang dari 1 tahun 22.277 17.784 Less than 1 yearAntara 1-5 tahun 62.478 49.557 Between 1-5 yearsLebih dari 5 tahun 1.146.862 784.759 More than 5 years











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b. Imbalan kerja jangka panjang lainnya b. Other long-term employee benefits

Imbalan kerja jangka panjang lainnyamerupakan penghargaan tertentu yangdiberikan Perusahaan, EPN, SCU dan PNDkepada para karyawannya berdasarkanlamanya masa kerja karyawan, yangdinamakan Ulang Tahun Dinas (“UTD”).Imbalan ini dalam bentuk kas dalam jumlahtertentu atau barang yang dibayarkan pada saatkaryawan mencapai UTD tertentu selama masakerjanya.

Other long-term employee benefits representcertain awards provided by the Company, EPN,SCU and PND to their employees based on theemployees’ length of service, namely UlangTahun Dinas (“UTD”). The benefit is awarded inthe form of certain cash awards or goods which ispaid at the time the employees reach certainanniversary dates during employment.

Pada tanggal 31 Desember 2019 dan 2018,liabilitas yang diakui dalam laporan posisikeuangan konsolidasian terkait denganprogram ini masing-masing sebesar Rp21.013dan Rp16.861.

As of December 31, 2019 and 2018, liabilityrecognized in the consolidated statement offinancial position with respect to the programamounted to Rp21,013 and Rp16,861,respectively.

c. Program pensiun iuran pasti c. Defined contribution pension plan

Perusahaan, EPN, SCU dan PND menyediakanprogram pensiun iuran pasti untuk karyawantetap yang dipekerjakan sejak 1 Oktober 2002.Iuran program tersebut dikelola oleh DanaPensiun Lembaga Keuangan (”DPLK”) PT BankNegara Indonesia (Persero) Tbk dan DPLKPT Bank Rakyat Indonesia (Persero) Tbk.

The Company, EPN, SCU and PND provide adefined contribution pension plan for employeeshired with permanent status since October 1,2002. The contribution to the plan is managed byDana Pensiun Lembaga Keuangan (“DPLK”)PT Bank Negara Indonesia (Persero) Tbk andDPLK PT Bank Rakyat Indonesia (Persero) Tbk.

Untuk tahun yang berakhir pada tanggal31 Desember 2019 dan 2018, beban yangdiakui terkait dengan program tersebut masing-masing sebesar Rp3.616 dan Rp3.424.

For the years ended December 31, 2019 and2018, expenses recognized with respect to theplan amounted Rp3,616 and Rp3,424,respectively.

d. Liabilitas imbalan kerja jangka pendek d. Short-term employee benefits liability

Akun ini merupakan liabilitas imbalan kerjajangka pendek yang terdiri dari akrual untukgaji, iuran dana pensiun, jaminan sosial tenagakerja dan imbalan kerja karyawan lainnya.

This account represents short-term employeebenefits liability consisting of accounts forsalaries, contributions for pension funds,employee social security and other employeebenefits.











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23. EKUITAS YANG DAPAT DIATRIBUSIKANKEPADA PEMILIK ENTITAS INDUK

23. EQUITY ATTRIBUTABLE TO OWNERS OF THEPARENT

a. Modal saham a. Share capital

Susunan pemegang saham Perusahaan adalahsebagai berikut:

The composition of shareholders of the Companyis as follows:

31 Desember/December 31, 2019 and 2018

Jumlah Persentasesaham/ kepemilikan/

Number of Percentage ofshares ownership Total

PT Pertamina (Persero) 3.000.000.000 41,10% 300.000 PT Pertamina (Persero)Dana Pensiun Pertamina 1.087.407.500 14,90% 108.741 Dana Pensiun PertaminaLain-lain (masing-masing

dengan kepemilikan Others (ownershipkurang dari 5%) 3.211.092.500 44,00% 321.109 below 5% each)

Total 7.298.500.000 729.850 Total

Pada tanggal 31 Desember 2019 dan 2018,seluruh saham Perusahaan telah dicatat diBursa Efek Indonesia.

As of December 31, 2019 and 2018, the entireshares of the Company are listed on the IndonesiaStock Exchange.

b. Tambahan modal disetor b. Additional paid-in capital

Tambahan modal disetor terdiri dari: Additional paid-in capital consists of:


2019 2018

Agio saham 438.000 438.000 Share premiumBiaya emisi saham (18.042) (18.042) Shares issuance costsSelisih nilai transaksi penjualan Difference in value from

saham treasuri 9.654 9.654 sale of treasury stockDifference in value from

Selisih nilai transaksi restrukturisasi restructuring transaction ofentitas sepengendali 1.810 1.810 entities under common control

Selisih transaksi dengan Difference in transactionpihak nonpengendali 4.269 4.269 with non-controlling interestl

Total 435.691 435.691 Total











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23. EKUITAS YANG DAPAT DIATRIBUSIKANKEPADA PEMILIK ENTITAS INDUK (lanjutan)

23. EQUITY ATTRIBUTABLE TO OWNERS OF THEPARENT (continued)

c. Dividen dan cadangan umum c. Dividend and general reserve

Dalam Rapat Umum Pemegang SahamTahunan Perusahaan yang berita acaranyadiaktakan dengan Akta Notaris No. 29 tanggal11 April 2019 dari Aulia Taufani, S.H., dan AktaNotaris No. 24 tanggal 14 Mei 2018 dari AuliaTaufani, S.H., para pemegang sahammenyetujui untuk membagikan dividen kassebesar Rp69.079 dan Rp37.071.

In the Shareholders’ Annual General Meetings ofthe Company, the minutes of which was notarizedunder Notarial Deed No. 29 dated April 11, 2019of Aulia Taufani, S.H., and Notarial Deed No. 24dated May 14, 2018 of Aulia Taufani, S.H., theshareholders agreed to distribute cash dividendsamounting to Rp69,079 and Rp37,071.

Dalam Rapat Umum Pemegang SahamTahunan Perusahaan sebagaimana disebutkandi atas, para pemegang saham juga menyetujuiuntuk membentuk cadangan umum sehinggamenjadi Rp135.229 dan Rp134.229 masing-masing pada tanggal 31 Desember 2019 dan31 Desember 2018. Cadangan umum tersebutditetapkan untuk memenuhi ketentuan Undang-undang No. 40 Tahun 2007 tentang PerseroanTerbatas yang penggunaannya sesuai denganAnggaran Dasar Perusahaan.

In the abovementioned Shareholders’ AnnualGeneral Meetings of the Company, theshareholders also agreed to allocateappropriation for general reserve so that thebalance becoming Rp135,229 and Rp134,229 asof December 31, 2019 and December 31, 2018,respectively. Such general reserve isappropriated to meet the requirement of theLimited Liability Company Law No. 40 of 2007, theuse of which is in accordance with the Company’sArticles of Association.

d. Penghasilan komprehensif lain d. Other comprehensive income

Mutasi penghasilan komprehensif lain (setelahpajak penghasilan) adalah sebagai berikut:

The movements in other comprehensive income(net of income tax) are as follows:


2019 2018

Saldo awal (44.436) (56.195) Beginning balancePenghasilan komprehensif lain Other comprehensive income

tahun berjalan (10.852) 11.759 for the period/year

Saldo akhir (55.288) (44.436) Ending balance

24. KEPENTINGAN NONPENGENDALI 24. NON-CONTROLLING INTERESTS

Kepentingan nonpengendali merupakan bagianpemegang saham nonpengendali atas ekuitasentitas anak sebagai berikut:

Non-controlling interests represent the non-controllingshareholders’ portion on equity of the followingsubsidiaries:


2019 2018

PND 4.218 4.218 PNDEFK 1.055 1.053 EFKSCU 16 16 SCUETSA (24) (26) ETSAEPN (3.605) (3.556) EPN












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25. PENDAPATAN 25. REVENUES

Rincian pendapatan adalah sebagai berikut: The details of revenues are as follows:



2019 2018

Pihak ketiga: Third parties:Jasa distribusi dan logistik energi 1.676.522 1.442.648 Energy distribution and logistics servicesJasa hulu migas terintegrasi 321.778 518.533 Integrated upstream oil and gas servicesJasa penunjang migas 200.547 204.649 Oil and gas support services

2.198.847 2.165.830

Pihak berelasi (Catatan 30i): Related parties (Note 30i):Jasa distribusi dan logistik energi 2.444.795 2.253.208 Energy distribution and logistics servicesJasa hulu migas terintegrasi 3.500.113 2.125.306 Integrated upstream oil and gas servicesJasa penunjang migas 241.367 80.430 Oil and gas support services

6.186.275 4.458.944

Total 8.385.122 6.624.774 Total

Rincian penjualan kepada pelanggan dengan jumlahlebih besar dari 10% pendapatan adalah sebagaiberikut:

Details of sales to customers that make up more than10% of revenues are as follows:



Persentase dari totalpendapatan/Percentage

Pendapatan/Revenue of total revenue

2019 2018 2019 2018

PT Pertamina (Persero) 2.586.687 2.277.838 30,8% 34,4% PT Pertamina (Persero)PT Pertamina EP 1.688.629 1.314.186 20,1% 19,8% PT Pertamina EPPT Pertamina Hulu Indonesia 914.568 489.048 10,9% 7,4% PT Pertamina Hulu Indonesia

Total 5.189.884 4.081.072 61,8% 61,6% Total











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26. BEBAN POKOK PENDAPATAN 26. COST OF REVENUES

Rincian beban pokok pendapatan adalah sebagaiberikut:

The details of cost of revenues are as follows:



2019 2018

Jasa subkontrak 1.503.044 1.297.804 Sub-contract servicesGaji, upah, dan kesejahteraan karyawan 1.109.099 906.316 Salaries, wages, and employee benefitsSewa 1.063.238 631.113 RentBahan bakar 518.242 389.254 FuelPenyusutan dan amortisasi 426.174 378.816 Depreciation and amortizationBahan pembantu yang digunakan 302.716 220.548 Additional materials usedFasilitas kantor 150.933 100.346 Office facilitiesMobilisasi dan demobilisasi 110.393 96.000 Mobilization and demobilizationTransportasi dan perjalanan 103.977 73.820 Transportation and travellingPerbaikan dan pemeliharaan 68.141 28.957 Repairs and maintenanceRepresentasi dan donasi 62.569 35.360 Representation and donationPerlengkapan workshop 47.513 43.861 Workshop suppliesUtilitas 45.171 41.176 UtilitiesPerizinan 39.008 29.448 PermitJasa profesional 36.078 33.592 Professional serviceAsuransi 22.621 23.471 InsuranceDenda proyek 14.201 3.812 Project penaltyLain-lain (masing-masing di bawah Rp5.000) 26.378 34.795 Others (each below Rp5,000)

5.649.496 4.368.489

Persediaan awal 76.194 33.402 Beginning inventoriesPembelian 1.879.016 1.646.983 PurchasesPersediaan akhir (90.666) (76.194) Ending inventories

1.864.544 1.604.191

Total 7.514.040 5.972.680 Total

Pembelian dari pemasok dengan jumlah lebih besardari 10% pendapatan adalah dari PT Pertamina(Persero) masing-masing sebesar Rp2.037.648 danRp1.804.609 untuk tahun yang berakhir padatanggal 31 Desember 2019 dan 2018.

Purchases from vendor that make up more than 10%of revenues are arising from PT Pertamina (Persero)amounting to Rp2,037,648 and Rp1,804,609 for theyears ended December 31, 2019 and 2018,respectively.

27. BEBAN UMUM DAN ADMINISTRASI 27. GENERAL AND ADMINISTRATIVE EXPENSES

Rincian beban umum dan administrasi adalahsebagai berikut:

The details of general and administrative expenses areas follows:



2019 2018

Gaji, upah, dan kesejahteraan karyawan 225.911 188.689 Salaries, wages, and employee benefitsFasilitas kantor 22.566 8.214 Office facilitiesTransportasi dan perjalanan dinas 18.968 9.819 Transportation and travellingJasa teknik dan profesional 15.739 17.931 Technical and professional servicesOffice support 6.841 5.096 Office supportPenyusutan dan amortisasi 6.209 7.629 Depreciation and amortizationUtilitas 6.020 3.507 UtilitiesLain-lain (masing-masing di bawah Rp5.000) 30.967 27.855 Others (each below Rp5,000)

Total 333.221 268.740 Total











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28. BEBAN KEUANGAN 28. FINANCE EXPENSES

Rincian beban keuangan adalah sebagai berikut: The details of finance expenses are as follows:



2019 2018

Bunga pinjaman 47.048 34.477 Interest on loanBiaya administrasi bank 8.325 5.754 Bank administration chargesAmortisasi biaya pinjaman 1.747 65 Amortization of costs of loan

Loss (gain) on foreign currencyRugi (laba) selisih kurs atas pinjaman (16.630) 49.796 exchange of loan


29. PENGHASILAN (BEBAN) LAIN-LAIN 29. OTHER INCOME (EXPENSES)

Rincian akun ini adalah sebagai berikut: The details of this account is as follows:



2019 2018

Gain (loss) on foreign currency exchangeLaba (rugi) selisih kurs mata uang asing - neto (16.875) 41.948 differences - netLain-lain - neto (masing-masing

di bawah Rp10.000) 1.170 25.582 Miscellaneous - net (each below Rp10,000)

Neto (15.705) 67.530 Net

30. INFORMASI MENGENAI PIHAK-PIHAKBERELASI

30. RELATED PARTIES INFORMATION

Dalam kegiatan usaha normal, Grup melakukantransaksi dengan pihak-pihak berelasi. Entitasdianggap berelasi jika entitas tersebut, baik secaralangsung maupun tidak langsung, dapatmengendalikan atau mengendalikan bersama, ataumemiliki pengaruh signifikan atas Grup dalampengambilan keputusan keuangan dan operasional.Entitas juga dianggap berelasi jika entitas tersebutsepengendalian dengan Grup. Karena entitas indukterakhir Perusahaan adalah Pemerintah RepublikIndonesia, Grup mengakui hubungan berelasidengan entitas berelasi dengan Pemerintah.

In the normal course of business, the Group enters intotransactions with related parties. Entities areconsidered to be related if the entity has the ability,directly or indirectly, to control or jointly control or havesignificant influence over the Group in making financialand operating decisions. Entities are also consideredto be related if they are under common control with theGroup. Since the Company’s ultimate parent is theGovernment of the Republic of Indonesia, the Grouprecognized related party relationship withGovernment-related entities.











85

30. INFORMASI MENGENAI PIHAK-PIHAKBERELASI (lanjutan)

30. RELATED PARTIES INFORMATION (continued)

Transaksi dan saldo dengan pihak-pihak berelasiadalah sebagai berikut:

Transactions and balances with related parties are asfollows:

a) Kas dan setara kas (Catatan 4) a) Cash and cash equivalents (Note 4)

Persentase terhadaptotal aset/

Percentage tototal assets

(%)


2019 2018 2019 2018

Bank Cash in banksPT Bank Negara Indonesia PT Bank Negara Indonesia

(Persero) Tbk 354.742 170.363 5,2 3,0 (Persero) TbkPT Bank Mandiri PT Bank Mandiri

(Persero) Tbk 268.799 264.466 3,9 4,7 (Persero) TbkPT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk 96.157 25.521 1,4 0,5 (Persero) TbkPT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

Syariah 2.468 191 0,0 0,0 SyariahPT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

Agroniaga Tbk 1.717 1.785 0,0 0,0 Agroniaga TbkPT Bank BNI Syariah 1.677 1.055 0,0 0,0 PT Bank BNI SyariahPT Bank Syariah Mandiri 620 591 0,0 0,0 PT Bank Syariah Mandiri

Subtotal 726.180 463.972 10,5 8,2 Sub-total

Call deposit dan deposito Call deposits and timeberjangka deposits

PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia(Persero) Tbk 17.496 14.000 0,3 0,2 (Persero) Tbk

PT Bank BNI Syariah 10.000 10.000 0,1 0,2 PT Bank BNI SyariahPT Bank Tabungan Negara PT Bank Tabungan Negara

(Persero) Tbk 9.000 12.000 0,1 0,2 (Persero) TbkPT Bank Syariah Mandiri - 200 - 0,0 PT Bank Syariah Mandiri


Total 762.676 500.172 11,0 8,8 Total











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b) Piutang usaha (Catatan 5) b) Trade receivables (Note 5)

Persentase terhadaptotal aset/Percentage to

total assets(%)


2019 2018 2019 2018

Difakturkan BilledPT Pertamina (Persero) 165.985 111.921 2,4 2,0 PT Pertamina (Persero)PT Pertamina Hulu Indonesia 107.228 59.351 1,6 1,0 PT Pertamina Hulu IndonesiaPT Pertamina EP 91.093 45.623 1,3 0,8 PT Pertamina EPPT Pertamina Hulu Energi 55.063 8.774 0,8 0,2 PT Pertamina Hulu EnergiPT Pertamina Drilling Service 16.869 - 0,2 - PT Pertamina Drilling ServicePT Perusahaan Gas Negara Tbk 13.588 - 0,2 - PT Perusahaan Gas Negara TbkNusantara Regas 5.185 5.210 0,1 0,1 Nusantara RegasLain-lain (masing-masing

dibawah 0,5% dari Others (each below 0.5% ofmodal disetor) 31.979 33.552 0,5 0,6 paid-in capital


Belum difakturkan UnbilledPT Pertamina EP 454.593 555.093 6,7 9,8 PT Pertamina EPPT Pertamina Hulu Energi 386.772 45.990 5,7 0,8 PT Pertamina Hulu EnergiPT Pertamina (Persero) 329.911 255.949 4,8 4,5 PT Pertamina (Persero)PT Pertamina Hulu Indonesia 101.331 95.111 1,5 1,7 PT Pertamina Hulu IndonesiaPT Perusahaan Gas Negara Tbk 33.011 13.586 0,5 0,2 PT Perusahaan Gas Negara TbkPT Pertamina Geothermal Energy 22.518 27.275 0,3 0,5 PT Pertamina Geothermal EnergyPT Pertamina Drilling Services 11.378 19.108 0,2 0,3 PT Pertamina Drilling ServicesLain-lain (masing-masing

dibawah 0,5% dari Others (each below 0.5% ofmodal disetor) 21.431 19.168 0,3 0,4 paid-in capital)

Subtotal 1.360.945 1.031.280 20,0 18,2 Sub-total

Total 1.847.935 1.295.711 27,1 22,9 TotalPenyisihan penurunan nilai (12.270) (9.875) (0,2) (0,2) Allowance for impairment

Neto 1.835.665 1.285.836 26,9 22,7 Net











87



c) Aset keuangan lancar lainnya (Catatan 6) c) Other current financial assets (Note 6)


total assets(%)


2019 2018 2019 2018

Piutang lain-lain Others receivablePT Pertamina (Persero) - 3.447 - 0,1 PT Pertamina (Persero)

Piutang sewa pembiayaan Finance lease receivables -- bagian lancar current portion

PT Pertamina (Persero) 20.837 11.764 0,3 0,2 PT Pertamina (Persero)PT Pertamina Patra Niaga 5.910 - 0,1 - PT Pertamina Patra NiagaPT Pertamina EP 3.749 1.763 0,1 0,0 PT Pertamina EP


Bank yang dibatasipenggunaannya Restricted cash in bank

PT Bank Mandiri PT Bank Mandiri(Persero) Tbk - 875 - 0,0 (Persero) Tbk

PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia(Persero) Tbk - 1 - 0,0 (Persero) Tbk

Subtotal - 876 - 0,0 Sub-total

Total 30.496 17.850 0,5 0,3 Total

d) Aset keuangan tidak lancar lainnya(Catatan 10)

d) Other non-current financial assets (Note 10)


total assets(%)


2019 2018 2019 2018

Piutang sewa pembiayaan Finance lease receivables -- bagian tidak lancar non-current portion

PT Pertamina (Persero) 286.221 44.883 4,2 0,8 PT Pertamina (Persero)PT Pertamina Patra Niaga 41.018 - 0,6 - PT Pertamina Patra NiagaPT Pertamina EP 6.549 8.427 0,1 0,1 PT Pertamina EP

Total 333.788 53.310 4,9 0,9 Total











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e) Pinjaman bank jangka pendek (Catatan 15) e) Short-term bank loans (Note 15)

Persentase terhadaptotal liabilitas/Percentage to

total liabilities(%)


2019 2018 2019 2018

PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia(Persero) Tbk - 27.427 - 1,2 (Persero) Tbk

PT Bank Negara Indonesia PT Bank Negara Indonesia(Persero) Tbk - 16.268 - 0,7 (Persero) Tbk

Total - 43.695 - 1,9 Total

f) Utang usaha (Catatan 16) f) Trade payables (Note 16)




2019 2018 2019 2018

PT Pertamina (Persero) 218.884 240.266 6,8 10,2 PT Pertamina (Persero)PT Pertamina Patra Niaga 15.065 5.613 0,5 0,2 PT Pertamina Patra NiagaPT Pertamina Retail 4.442 6.634 0,1 0,3 PT Pertamina RetailLain-lain (masing-masing

di bawah 0,5% dari Others (each below 0.5% ofmodal disetor) 6.235 7.873 0,2 0,3 paid-in capital)

Total 244.626 260.386 7,6 11,0 Total

g) Pendapatan ditangguhkan (Catatan 21) g) Deferred income (Note 21)




2019 2018 2019 2018

PT Pertamina (Persero) 101.650 - 3,1 - PT Pertamina (Persero)

Total 101.650 - 3,1 - Total

h) Kompensasi personil manajemen kunci h) Key management personnel compensation



2019 2018

Imbalan kerja jangka pendek 31.528 26.380 Short-term employee benefitsPesangon pemutusan kerja 1.280 2.469 Termination benefits












89



i) Pendapatan (Catatan 25) i) Revenues (Note 25)

Persentase terhadaptotal pendapatan/

Percentage tototal revenues

(%)

Tahun yang berakhir pada Tahun yang berakhir padatanggal 31 Desember/ tanggal 31 Desember/

Year ended December 31, Year ended December 31,

2019 2018 2019 2018

PT Pertamina (Persero) 2.586.687 2.277.838 30,8 34,4 PT Pertamina (Persero)PT Pertamina EP 1.688.629 1.314.186 20,1 19,8 PT Pertamina EPPT Pertamina Hulu Indonesia 914.568 489.048 10,9 7,4 PT Pertamina Hulu IndonesiaPT Pertamina Hulu Energi 762.331 124.325 9,1 1,9 PT Pertamina Hulu EnergiPT Perusahaan Gas Negara Tbk 59.909 25.403 0,7 0,4 PT Perusahaan Gas Negara TbkPT Pertamina Geothermal Energy 46.419 38.200 0,6 0,6 PT Pertamina Geothermal EnergyPT Pertamina Drilling PT Pertamina Drilling Services

Services Indonesia 25.001 125.382 0,3 1,9 IndonesiaPT Pertamina Patra Niaga 13.219 - 0,2 PT Pertamina Patra NiagaPT Pertamina Lubricant 3.903 3.398 0,0 0,1 PT Pertamina LubricantLain-lain (masing-masing


Total 6.186.275 4.458.944 73,7 67,2 Total

j) Pembelian (Catatan 26) j) Purchases (Catatan 26)

Persentase terhadap totalbeban pokok pendapatan/

Percentage tototal cost of revenues

(%)

Tahun yang berakhir pada Tahun yang berakhir padatanggal 31 Desember/ tanggal 31 Desember/

Year ended December 31, Year ended December 31,

2019 2018 2019 2018

PT Pertamina (Persero) 2.037.648 1.804.609 27,1 30,2 PT Pertamina (Persero)Koperasi Karyawan Elnusa 312.270 251.710 4,2 4,2 Koperasi Karyawan ElnusaPT Pertamina Niaga 30.437 42.954 0,4 0,7 PT Pertamina NiagaPT Pertamina Lubricant 16.792 14.923 0,2 0,2 PT Pertamina LubricantPT Pertamina Retail 10.058 10.189 0,1 0,2 PT Pertamina RetailPT Pertamina Trans Kontinental 9.312 8.862 0,1 0,1 PT Pertamina Trans KontinentalPT Tugu Pratama Indonesia 8.094 10.022 0,1 0,2 PT Tugu Pratama IndonesiaLain-lain (masing-masing


Total 2.430.626 2.145.747 32,3 35,9 Total











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Ringkasan sifat hubungan dan transaksi yangsignifikan dengan pihak-pihak berelasi adalahsebagai berikut:

Summary of the nature of the relationship andsignificant transactions with related parties is asfollows:

Pihak-pihak berelasi/ Sifat hubungan/ Sifat transaksi/No. Related parties Nature of relationship Nature of transaction

1. PT Pertamina (Persero) Entitas induk/Parent Penjualan barang dan jasa danpembelian barang dagangan/

Sales of goods and services andpurchases of merchandise

inventories2. PT Pertamina EP Entitas sepengendali/ Penjualan jasa/

Entity under common control Sales of services3. PT Pertamina Gas Entitas sepengendali/ Penjualan barang dan jasa/

Entity under common control Sales of goods and services4. PT Pertamina Hulu Energi Entitas sepengendali/ Penjualan jasa/

Entity under common control Sales of services5. PT Pertamina Hulu Indonesia Entitas sepengendali/ Penjualan jasa/

Entity under common control Sales of services6. PT Pertamina Geothermal Energy Entitas sepengendali/ Penjualan jasa/

Entity under common control Sales of services7. PT Pertamina Drilling Services Entitas sepengendali/ Penjualan jasa/

Indonesia Entity under common control Sales of services8. PT Pertamina Lubricant Entitas sepengendali/ Penjualan barang dan

Entity under common control pembelian barang dagangan/Sales of goods and purchases

of merchandise inventories9. PT Nusantara Regas Entitas sepengendali/ Penjualan jasa/

Entity under common control Sales of services10. PT Perusahaan Gas Negara Tbk Entitas sepengendali/ Penjualan jasa/

Entity under common control Sales of services11. PT Tugu Pratama Indonesia Entitas sepengendali/ Pembelian jasa asuransi/

Entity under common control Purchases of insuranceservices

12. PT Pertamina Retail Entitas sepengendali/ Pembelian barang dagangan/Entity under common control Purchases of merchandise

Inventories13. PT Pertamina Patra Niaga Entitas sepengendali/ Pembelian barang dagangan/

Entity under common control Purchases of merchandiseInventories

14. PT Pertamina Trans Kontinental Entitas sepengendali/ Pembelian jasa sewa/Entity under common control Purchases of rental services

15. Koperasi Karyawan Elnusa Manajemen kunci yang sama/ Pembelian jasa sewaCommon key management dan alih daya/

Purchases of rental andoutsourcing services

16. PT Bank Mandiri (Persero) Tbk Entitas berelasi dengan Jasa perbankan/Pemerintah/ Banking services

Government-related entity17. PT Bank Negara Indonesia Entitas berelasi dengan Jasa perbankan/

(Persero) Tbk Pemerintah/ Banking servicesGovernment-related entity

18. PT Bank BNI Syariah Entitas berelasi dengan Jasa perbankan/Pemerintah/ Banking services

Government-related entity19. PT Bank Rakyat Indonesia Entitas berelasi dengan Jasa perbankan/












91



Ringkasan sifat hubungan dan transaksi yangsignifikan dengan pihak-pihak berelasi adalahsebagai berikut:

Summary of the nature of the relationship andsignificant transactions with related parties is asfollows:

Pihak-pihak berelasi/ Sifat hubungan/ Sifat transaksi/No. Related parties Nature of relationship Nature of transaction

20. PT Bank Syariah Mandiri Entitas berelasi dengan Jasa perbankan/Pemerintah/ Banking services

Government-related entity21. PT Bank Tabungan Negara Entitas berelasi dengan Jasa perbankan/


22. PT Bank Rakyat Indonesia Entitas berelasi dengan Jasa perbankan/Syariah Pemerintah/ Banking services

Government-related entity23. PT Bank Rakyat Indonesia Entitas berelasi dengan Jasa perbankan/

Agroniaga Tbk Pemerintah/ Banking servicesGovernment-related entity

31. PERJANJIAN PENTING, KOMITMEN DANKONTINJENSI

31. SIGNIFICANT AGREEMENTS, COMMITMENTSAND CONTINGENCIES

a. Perkara hukum a. Legal case

Dalam kegiatan usaha normal, Grup menjadipihak penggugat dan tergugat dalam perkarahukum termasuk dalam proses hukum yangsedang berjalan. Manajemen telah menilaikemungkinan hasil yang tidak menguntungkandari liabilitas kontinjensi terkait, tuntutan hukumatau proses hukum yang sedang berjalan, danberdasarkan penilaian tersebut, manajemenyakin bahwa tidak akan ada dampak materialyang berpotensi merugikan posisi keuangan,hasil operasi maupun arus kas dari Grup.

In the ordinary course of business, the Group is aplaintiff and defendant in several businesslawsuits as well as the named party in otherproceedings arising. Management has assessedthe likelihood of an unfavourable outcome of suchcontingencies, lawsuits or other proceedings andbased on such assessment, managementbelieves they will not have a material adverseeffect on the financial position, operating resultsor cash flows of the Group.

PT Bank Mega Tbk PT Bank Mega Tbk

Pada tanggal 18 Mei 2011, Perusahaanmengajukan gugatan perdata melaluiPengadilan Negeri Jakarta Selatan kepadaPT Bank Mega Tbk (“Bank Mega”) ataspencairan deposito senilai Rp111.000 yangdilakukan tanpa persetujuan Perusahaan.Gugatan ini terdaftar dalam PerkaraNo. 284/Pdt.G/2011/PN.Jkt.Sel. Pada tanggal21 Juli 2011, Majelis Hakim Pengadilan NegeriJakarta Selatan mengeluarkan penetapan sitajaminan atas 2 (dua) bidang tanah milik BankMega berdasarkan sertifikat sebagai berikut:

On May 18, 2011, the Company filed a civil lawsuitwith the South Jakarta District Court againstPT Bank Mega Tbk (“Bank Mega”) on liquidationof deposits worth Rp111,000without the consent of the Company.The lawsuit was registered in CaseNo. 284/Pdt.G/2011/PN.Jkt.Sel. OnJuly 21, 2011, the Panel of Judges of the SouthJakarta District Court issued an order of collateralforeclosure on 2 (two) plots of land owned byBank Mega based on the following certificates:











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31. PERJANJIAN PENTING, KOMITMEN DANKONTINJENSI (lanjutan)

31. SIGNIFICANT AGREEMENTS, COMMITMENTSAND CONTINGENCIES (continued)

a. Perkara hukum (lanjutan) a. Legal case (continued)

PT Bank Mega Tbk (lanjutan) PT Bank Mega Tbk (continued)

i. Sertifikat Hak Guna Bangunan (“HGB”) No.95/Mampang Prapatan, Jakarta Selatan,tercatat atas nama PT Bank Mega Tbk;

i. Building Rights Title (“HGB”) CertificateNo. 95/Mampang Prapatan, South Jakarta,registered under the name of PT Bank MegaTbk;

ii. Sertifikat HGB No. 97/Mampang Prapatan,Jakarta Selatan, tercatat atas namaPT Bank Mega Tbk.

ii. HGB Certificate No. 97/Mampang Prapatan,South Jakarta, registered under the name ofPT Bank Mega Tbk.

Pada tanggal 22 Maret 2012, PengadilanNegeri Jakarta Selatan mengeluarkan PutusanNo. 284/Pdt.G/2011/PN.Jkt.Sel yang isinya,antara lain, mengabulkan gugatan Perusahaanuntuk sebagian dan memerintahkan Bank Megauntuk membayar dana deposito senilaiRp111.000 dan bunga 6% per tahun kepadaPerusahaan.

On March 22, 2012, the South JakartaDistrict Court issued VerdictNo. 284/Pdt.G/2011/PN.Jkt.Sel, the decision ofwhich, among others, partially accepted thelawsuit filed by the Company and ordered BankMega to pay the deposits fund amounting toRp111,000 and interest of 6% per annum to theCompany.

Atas putusan tersebut, pada tanggal16 April 2012, Bank Mega mengajukan MemoriBanding kepada Pengadilan Tinggi DKI Jakarta.Pada tanggal 11 Mei 2012, Perusahaanmenyampaikan Kontra Memori Banding kepadaPengadilan Tinggi DKI Jakarta.

Responding to the verdict, on April 16, 2012, BankMega filed a Memorandum of Appeal to theJakarta High Court. On May 11, 2012, theCompany submitted its Counter-Memorandum ofAppeal to the Jakarta High Court.

Pada tanggal 5 Februari 2013, PengadilanTinggi DKI Jakarta mengeluarkan PutusanNo. 237/Pdt/2012/PT.DKI tertanggal10 Januari 2013 yang isinya menguatkanputusan Pengadilan Negeri Jakarta Selatanyang memerintahkan Bank Mega untukmembayar dana deposito senilai Rp111.000dan bunga 6% per tahun kepada Perusahaan.

On February 5, 2013, the Jakarta High Courtissued Verdict No. 237/Pdt/2012/PT.DKI datedJanuary 10, 2013, which reaffirmed the verdictissued by the South Jakarta District Court whichordered Bank Mega to pay the deposits fundamounting to Rp111,000 and interest of 6% perannum to the Company.

Atas putusan banding tersebut, pada tanggal26 Februari 2013, Bank Mega mengajukanMemori Kasasi kepada Mahkamah AgungRepublik Indonesia (“MA”) yangpemberitahuannya diterima oleh Perusahaanpada tanggal 13 Maret 2013. Pada tanggal26 Maret 2013, Perusahaan menyampaikanKontra Memori Kasasi kepada MA.

Responding to the appeal verdict, onFebruary 26, 2013, Bank Mega filed aMemorandum of Cassation to the Supreme Courtof the Republic of Indonesia (the “SupremeCourt”) of which the notice was received by theCompany on March 13, 2013. On March 26, 2013,the Company submitted its Counter-Memorandum of Cassation to the Supreme Court.

Pada tanggal 8 Januari 2015, Perusahaanmenerima Surat Pemberitahuan Isi PutusanKasasi MA No. 1111 K/Pdt/2013 tertanggal12 Februari 2014 yang isinya menolakpermohonan kasasi Bank Mega. Dengandemikian, MA telah menguatkan putusanPengadilan Tinggi DKI Jakarta dan PengadilanNegeri Jakarta Selatan yang memerintahkanBank Mega untuk membayar dana depositosenilai Rp111.000 dan bunga 6% per tahunkepada Perusahaan.

On January 8, 2015, the Company received theVerdict Notification Letter from the Supreme CourtNo. 1111 K/Pdt/2013 dated February 12, 2014,which rejected the cassation filed by Bank Mega.As such, the Supreme Court has reaffirmed theverdicts issued by the Jakarta High Court and theSouth Jakarta District Court which ordered BankMega to pay the deposits fund amounting toRp111,000 and interest of 6% per annum to theCompany.











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Atas putusan kasasi tersebut, pada tanggal25 Maret 2015, Bank Mega mengajukanMemori Peninjauan Kembali (“PK”) kepada MA.Pada tanggal 25 Mei 2015, Perusahaanmenyampaikan Kontra Memori PK kepada MA.Sampai dengan tanggal penyelesaian laporankeuangan konsolidasian, Perusahaan belummenerima putusan atas PK tersebut dari MA.

Responding to the cassation verdict, onMarch 25, 2015, Bank Mega filed a Memorandumof Judicial Review to the Supreme Court. OnMay 25, 2015, the Company submitted itsCounter-Memorandum of Judicial Review to theSupreme Court. Up to the date of completion ofthe consolidated financial statements, theCompany has not yet received the verdict on suchJudicial Review from the Supreme Court.

Sehubungan dengan adanya putusan kasasitersebut, Perusahaan mengajukan permohonaneksekusi kepada Pengadilan Negeri JakartaSelatan melalui surat tertanggal 13 April 2015.Ketua Pengadilan NegeriJakarta Selatan kemudian menerbitkanPenetapan No. 10/Eks.Pdt/2016 jo.No. 284/Pdt.G/2011/PN.Jkt.Sel tertanggal23 Februari 2016 yang memerintahkanpemberian teguran (Aanmaning) kepada BankMega agar melaksanakan putusan pengadilantersebut. Pada tanggal 23 Maret 2016, KetuaPengadilan Negeri Jakarta Selatan memberikanteguran (Aanmaning) kepada Bank Megadimana Bank Mega menolak melakukanpembayaran dengan alasan telah mengajukangugatan perlawanan dalam PerkaraNo. 162/Pdt.G/2016/PN.Jkt.Sel.

In relation to the cassation verdict, the Companyfiled a request for execution to theSouth Jakarta District Court through a letter datedApril 13, 2015. The Head of the SouthJakarta District Court then issuedOrder No. 10/Eks.Pdt/2016 jo.No. 284/Pdt.G/2011/PN.Jkt.Sel datedFebruary 23, 2016 which ordered the issuance ofa warning (Aanmaning) to Bank Mega toimplement the courts verdicts. OnMarch 23, 2016, the Head of the South JakartaDistrict Court issued the warning (Aanmaning) toBank Mega in which Bank Mega refused to pay onthe reason that it has filed a tierce oppositionwhich was registered in CaseNo. 162/Pdt.G/2016/PN.Jkt.Sel.

Pada tanggal 31 Maret 2016, Perusahaanmengajukan permohonan lelang eksekusi atas2 (dua) bidang tanah milik Bank Mega yangtelah ditetapkan sebagai sita jaminan dalamperkara ini kepada Pengadilan Negeri JakartaSelatan. Ketua Pengadilan NegeriJakarta Selatan kemudian menerbitkanPenetapan No. 10/Eks.Pdt/2016 jo.No. 284/Pdt.G/2011/PN.Jkt.Sel tertanggal12 April 2016 yang memerintahkanpelaksanaan eksekusi pelelangan/penjualan dimuka umum atas aset-aset sita jaminantersebut.

On March 31, 2016, the Company filed a requestfor executionary auction on 2 (two) plots of landowned by Bank Mega which have beendetermined as collateral foreclosure in this case tothe South Jakarta District Court. The Head ofSouth Jakarta District Court then issuedOrder No. 10/Eks.Pdt/2016 jo.No. 284/Pdt.G/2011/PN.Jkt.Sel datedApril 12, 2016 which ordered the implementationof public executionary auction/sale on suchcollateral foreclosure assets.











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Pada tanggal 6 Desember 2017, Perusahaanmenerima dari kuasa hukum PerusahaanSalinan Putusan Pengadilan Negeri JakartaSelatan terkait gugatan Perlawanan Bank MegaNo. 162/Pdt.G/2016/PN.Jkt.Sel tertanggal25 Oktober 2017, yang isinya antara lainMenolak gugatan perlawanan Bank Mega untukseluruhnya. Selanjutnya pada tanggal10 Januari 2018, Perusahaan telah menerimarelaas (surat) pemberitahuan dari PengadilanNegeri Jakarta Selatan tentang penyerahanmemori banding Bank Mega terhadap putusanperlawanan tersebut.

On December 6, 2017, the Company received theVerdict Letter from South Jakarta District Court, inrelation to the Bank Mega’s caseNo. 162/Pdt.G/2016/PN.Jkt.Sel datedOctober 25, 2017 from the Company legalcounsels, whose contents include rejecting theBank Mega resistance lawsuit to the entirely.Subsequently, on January 10, 2018, the Companyhas received the letter of notification from SouthJakarta District Court on submission letter of BankMega memorandum appeal to the resolution’sdecision.

Terhadap Memori Banding Bank Mega, padatanggal 26 Maret 2018, kuasa hukumPerusahaan mengajukan Kontra MemoriBanding kepada Pengadilan Tinggi DKI Jakartamelalui Pengadilan Negeri Jakarta Selatan.

Responding to Bank Mega Memorandum Appeal,on March 26, 2018, the Company filed Counter –Memorandum Appeal to Jakarta High Court,through South Jakarta District Court.

Sampai dengan tanggal penyelesaian laporankeuangan konsolidasian, perkara ini masihdalam proses di Pengadilan Tinggi DKI Jakarta.

Until the completion date of the consolidatedfinancial statements, the case is stil in process atDKI Jakarta High Court.

b. Perjanjian kerja sama b. Cooperation agreement

Pusat Data dan Informasi Energi dan SumberDaya Mineral (“PUSDATIN”)

Pusat Data dan Informasi Energi dan SumberDaya Mineral (“PUSDATIN”)

Pada bulan Maret 1998, PND menandatanganiPerjanjian Kerjasama dengan Direktur JenderalMinyak dan Gas (“Dirjen Migas”) No.242A/32/DJM/1998: 012/PND/KTR/X100/98untuk pengelolaan dan pemasyarakatan dataminyak dan gas bumi. Perjanjian inididasari atas Surat KeputusanNo. 176.K.702/D.DJM/1997 tanggal24 November 1997, tentang penunjukan PNDsebagai pelaksana pengelolaan danpemasyarakatan data eksplorasi daneksploitasi minyak dan gas bumi.

In March 1998, PND entered into a CooperationAgreement with the Director General of Oil andGas (“Dirjen Migas”) No. 242A/32/DJM/1998:012/PND/KTR/X100/98 to manage and socialisethe oil and gas data. This agreementwas based on the Decision LetterNo. 176.K/702/D.DJM/1997 datedNovember 24, 1997, regarding the appointmentof PND as the executor of oil and gas explorationand exploitation data management andsocialization.











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b. Perjanjian kerja sama (lanjutan) b. Cooperation agreement (continued)

Pusat Data dan Informasi Energi dan SumberDaya Mineral (“PUSDATIN”) (lanjutan)

Pusat Data dan Informasi Energi dan SumberDaya Mineral (“PUSDATIN”) (continued)

Selanjutnya pada tanggal 4 Januari 2007, PNDbersama dengan Dirjen Migas dan PUSDATINmenandatangani Amandemen PerjanjianKerjasama. Dalam amendemen perjanjiantersebut disebutkan bahwa Dirjen Migasmengalihkan seluruh hak dan kewajibannyakepada PUSDATIN. PUSDATIN akanmemperoleh 5% hingga 15% dari penghasilanPND yang diperoleh dari pengelolaan danpemasyarakatan data dan disetorkan ke KasNegara dalam bentuk Penerimaan NegaraBukan Pajak (“PNBP”). Amandemen PerjanjianKerja Sama ini akan berlaku sampai dengantanggal 10 Maret 2018.

Furthermore, on January 4, 2007, PND togetherwith the Dirjen Migas and the PUSDATIN signedthe Amendment on the Cooperation Agreement.The amended agreement stated that the DirjenMigas transferred all of its rights and obligationsto PUSDATIN. PUSDATIN will receive a 5% to15% share from the proceeds of datamanagement and socialization obtained by PNDwhich shall be paid to the State Treasury as Non-tax State Revenues (“PNBP”). The amendedCooperation Agreement will be valid untilMarch 10, 2018.

Sejak tanggal 11 Maret 2018, PT Pertamina(Persero) ditunjuk sebagai pelaksanapengelolaan dan permasyarakatan dataeksplorasi dan eksploitasi minyak dan gasbumi. PT Pertamina (Persero) menunjuklangsung PND untuk pengelolaan danpermasyarakatan data tersebut sampai dengan11 Juli 2020.

Since March 11, 2018, PT Pertamina (Persero)has the right as the executor of oil and gasexploration dan exploitation data managementand socializatio. PND received directappointment from PT Pertamina (Persero) forthose data management and socialization validuntil July 11, 2020.

Grup Pertamina Pertamina Group

Perusahaan menandatangani berbagaiperjanjian pekerjaan jasa data seismic, drillingdan oilfield maintenance dengan GrupPertamina. Perjanjian-perjanjian ini akanberakhir pada berbagai tanggal antara tanggal12 Januari 2019 sampai 9 November 2021.

The Company signed several seismic data,drilling and oilfield maintenance servicesagreements with Pertamina Group. Theseagreements are valid up to various dates fromJanuary 12, 2019 until November 9, 2021.

EPN menandatangani beberapa perjanjiandengan PT Pertamina (Persero) mengenaipengelolaan truk tangki dan jasa sewa pakaitruk tangki di beberapa wilayah. Perjanjian iniakan berakhir pada berbagai tanggal antaratanggal 31 Januari 2020 sampai dengantanggal 28 Februari 2022. Pada tahun yangberakhir pada tanggal 31 Desember 2019 dan2018, total penghasilan jasa dan sewa dariperjanjian tersebut masing-masing sebesarRp1.970.585 dan Rp1.126.406.

EPN signed several agreements withPT Pertamina (Persero) on the management offuel transportation vehicles and also rental oftransportation vehicles services covering severalareas. The agreements will be valid up to variousdates from January 31, 2020 until February 28,2022. For the years ended December 31, 2019and 2018, total service and rental income fromthese agreements amounted to Rp1,970,585 andRp1,126,406, respectively.











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b. Perjanjian kerja sama (lanjutan) b. Cooperation agreement (continued)

Grup Pertamina (lanjutan) Pertamina Group (continued)

EPN dan PT Pertamina (Persero)menandatangani perjanjian penyediaan JasaDepot Mini LPG Pressurized di Amurang,Sulawesi Utara (“Depot Mini LPG”). Jangkawaktu perjanjian ini adalah 10 (sepuluh) tahunsejak dimulainya pengoperasian Depot MiniLPG. Pada saat berakhirnya perjanjian, PTPertamina (Persero) atau afiliasinya berhakuntuk membeli keseluruhan aset dengan nilaiyang disepakati sebesar Rp107.000 ataumemperpanjang perjanjian selama 5 (lima)tahun dengan tarif yang akan disesuaikankemudian. Pada tahun yang berakhir padatanggal 31 Desember 2019, total penghasilansewa dari perjanjian tersebut adalah sebesarRp6.183. Pada tanggal 31 Desember 2019,pendapatan tangguhan yang belumdiamortisasi dari perjanjian tersebut adalahsebesar Rp101.650.

EPN and PT Pertamina (Persero) entered intoagreement to provide Depot Mini LPGPressurized Services in Amurang, North Sulawesi(“Depot Mini LPG”). The duration of theagreement is 10 (ten) years since the start ofoperation of the Depot Mini LPG. At the end of theagreement, PT Pertamina (Persero) or itsaffiliates have rights to purchase the whole assetswith agreed amount of Rp107,000 or to extend theagreement for 5 (five) years with later adjustedtariff. For the year ended December 31, 2019,total rental income from the agreement amountedto Rp6,183. As of December 31, 2019,unamortized deferred income from the agreementamounted to Rp101,650.

PT Waskita Adhi Sejahtera (“WAS”) PT Waskita Adhi Sejahtera (“WAS”)

Perusahaan dan PT Waskita Adhi Perkasa(“WAS”) menandatangani Perjanjian KerjasamaOperasi (“KSO”) dengan tanggal efektifperjanjian yaitu 12 Desember 2016. KSO inidibentuk untuk melakukan proyek jasapemeliharaan elektrikal dan instrumentasi dariBP Berau Ltd. Komposisi kepemilikan padaKSO adalah 51% oleh Perusahaan dan 49%oleh WAS.

The Company and PT Waskita Adhi Perkasa(“WAS”) entered into Joint Operation (“JO”)agreement with effective date of the agreement onDecember 12, 2016. The JO is establised in orderto perform electrical and instrumentationmaintenance services project from BP Berau Ltd.The composition of ownerships in JO are 51%owned by the Company and 49% owned by WAS.

c. Komitmen pengeluaran barang modal c. Capital expenditure commitments

Grup memiliki komitmen pengeluaran barangmodal dalam menjalankan usaha normalnya.Pada tanggal 31 Desember 2019 dan 2018,total komitmen pengeluaran barang modal Grupyang belum terealisasi masing-masing sebesarRp851 dan Rp9.406.

The Group has capital expenditure commitmentsin the normal course of business. As ofDecember 31, 2019 and 2018, the Group’s totaloutstanding capital expenditure commitmentsamounted to Rp851 and Rp9,406, respectively.

d. Fasilitas penjaminan bank d. Bank guarantee facilities

Grup memiliki beberapa fasilitas penjaminanbank yang batas maksimumnya tergabungdengan fasilitas pinjaman dari BNI, BRI, ICBC,Mizuho, UOB, BTPN dan Mandiri (Catatan 15).Pada tanggal 31 Desember 2019 dan 2018,total fasilitas penjaminan bank yang belumdigunakan masing-masing sebesar$AS76.217.740 dan $AS44.564.273.

The Group has several bank guarantee facilitiesof which the maximum limits are combined withthe loan facilities from BNI, BRI, ICBC, Mizuho,UOB, BTPN, and Mandiri (Note 15). As ofDecember 31, 2019 and 2018, the total unusedbank guarantee facilities amounted toUS$76,217,740 and US$44,564,273, respectively











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32. INFORMASI SEGMEN (lanjutan) 32. SEGMENT INFORMATION (continued)

Ringkasan berikut ini menggambarkan bisnis utamadari setiap segmen yang dilaporkan Grup:

The following summary describes the core businessesof each of the Group’s reportable segments:

a) Jasa hulu migas terintegrasi menyediakan jasapengukuran data geofisika/seismik, jasapemboran migas dan jasa oilfield.

a) Integrated upstream oil and gas services providegeophysical/seismic data services, oil and gasdrilling service and oilfield services.

b) Jasa penunjang migas menyediakan jasapenguliran, perdagangan pipa OCGT (OpenCycle Gas Turbine) dan fabrikasi, pembuatanulir (threading) untuk pemboran migas, jasapengelolaan data dan informasi energi dansumber daya mineral (khususnya eksplorasidan eksploitasi minyak dan gas bumi), jasapengelolaan data migas, jasa pembangunansistem teknologi informasi terpadu, jasatelekomunikasi, jasa penyediaan jaringan,telekomunikasi satelit dan sistem komunikasiVSAT (Very-Small-Aperture Terminal).

b) Oil and gas support services provide threadingservices, OCGT (Open Cycle Gas Turbine) pipetrading and manufacturing, threading for oil andgas drilling, data and information on energy andmineral resources management services(particularly oil and gas exploration andexploitation), oil and gas data managementservices, integrated information technologydevelopment services, telecommunicationservices, network services provider, satellitecommunications, and Very-Small-ApertureTerminal-based communication systems.

c) Jasa distribusi dan logistik energi menyediakanjasa penyimpanan, perdagangan,pendistribusian dan pemasaran produk minyakdan gas di Indonesia.

c) Energy distribution and logistics services providestorage services, trading, distribution andmarketing of oil and gas products in Indonesia.

Informasi mengenai segmen yang dilaporkan danrekonsiliasi antara ukuran segmen dengan jumlahyang diakui dalam laporan keuangan konsolidasianadalah sebagai berikut:

Information about reportable segments andreconciliation between segment measures and theamounts recognized in the consolidated financialstatements are as follows:

31 Desember 2019 dan tahun yang berakhir pada tanggal tersebut/December 31, 2019 and the year then ended

JasaJasa distribusi

hulu migas Jasa dan logistikterintegrasi/ penunjang energi/ JumlahIntegrated migas/ Energy sebelumupstream Oil and gas distribution rekonsiliasi/

oil and gas support and logistics Total before Rekonsiliasi/ Konsolidasian/services services services reconciliation Reconciliation Consolidated

Pendapatan eksternal 3.821.891 441.914 4.121.317 8.385.122 - 8.385.122 External revenuesPendapatan antarsegmen 25.124 546.749 242.772 814.645 (814.645) - Inter-segment revenues

Total pendapatan 3.847.015 988.663 4.364.089 9.199.767 (814.645) 8.385.122 Total revenues

Beban pokok pendapatan (3.578.480) (820.397) (3.909.600) (8.308.477) 794.437 (7.514.040) Total cost of revenues

Laba bruto 268.535 168.266 454.489 891.290 (20.208) 871.082 Gross profit

Beban penjualan (2.722) (798) (660) (4.180) - (4.180) Selling expensesGeneral and administrative

Beban umum dan administrasi (193.642) (65.396) (81.465) (340.503) 7.282 (333.221) expensesPendapatan keuangan 3.716 9.206 4.171 17.093 - 17.093 Finance incomeBeban keuangan (24.702) (5.478) (10.310) (40.490) - (40.490) Finance costsPendapatan (beban) lain-lain - neto (15.347) 3.721 (5.720) (17.346) 1.641 (15.705) Other income (expenses) - net

Laba sebelum pajak final dan Profit before final tax andpajak penghasilan 35.838 109.521 360.505 505.864 (11.285) 494.579 income tax

Beban pajak final (17.201) (5.531) (5.098) (27.830) - (27.830) Final tax expense

Laba sebelum pajak penghasilan 18.637 103.990 355.407 478.034 (11.285) 466.749 Profit before income tax

Beban pajak penghasilan (14.328) (11.877) (84.067) (110.272) - (110.272) Income tax expense

Laba tahun berjalan 4.309 92.113 271.340 367.762 (11.285) 356.477 Profit for the year

Penghasilan komprehensif lain (11.753) (1.631) 2.532 (10.852) - (10.852) Other comprehensive income

Total laba komprehensif Total comprehensive incometahun berjalan (7.444) 90.482 273.872 356.910 (11.285) 345.625 for the year

Informasi-informasi lain Other informationTotal aset 4.606.703 1.086.423 1.974.247 7.667.373 (862.336) 6.805.037 Total assetsTotal liabilitas 2.092.940 316.169 1.107.918 3.517.027 (288.688) 3.228.339 Total liabilitiesEkuitas - neto 2.513.762 770.254 866.329 4.150.345 (573.647) 3.576.698 Equity - netPenyusutan dan amortisasi (312.575) (86.512) (45.745) (444.832) 12.449 (432.383) Depreciation and amortizationPenambahan aset tetap 210.948 61.018 210.690 482.656 (13.695) 468.961 Additions of fixed assets











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32. INFORMASI SEGMEN (lanjutan) 32. SEGMENT INFORMATION (continued)

31 Desember 2018 dan tahun yang berakhir pada tanggal tersebut/December 31, 2018 and the year then ended

JasaJasa distribusi

hulu migas Jasa dan logistikterintegrasi/ penunjang energi/ JumlahIntegrated migas/ Energy sebelumupstream Oil and gas distribution rekonsiliasi/

oil and gas support and logistics Total before Rekonsiliasi/ Konsolidasian/services services services reconciliation Reconciliation Consolidated

Pendapatan eksternal 2.636.121 292.797 3.695.856 6.624.774 - 6.624.774 External revenuesPendapatan antarsegmen 17.797 405.706 196.440 619.943 (619.943) - Inter-segment revenues

Total pendapatan 2.653.918 698.503 3.892.296 7.244.717 (619.943) 6.624.774 Total revenues

Beban pokok pendapatan (2.500.157) (577.580) (3.508.346) (6.586.083) 613.403 (5.972.680) Total cost of revenues

Laba bruto 153.761 120.923 383.950 658.634 (6.540) 652.094 Gross profit

Beban penjualan (2.094) (48) (437) (2.579) - (2.579) Selling expensesGeneral and administrative

Beban umum dan administrasi (150.617) (54.374) (75.563) (280.554) 11.814 (268.740) expensesPendapatan keuangan 5.052 5.877 7.676 18.605 - 18.605 Finance incomeBeban keuangan (84.376) (3.275) (2.441) (90.092) - (90.092) Finance expensesPendapatan (beban) lain-lain - neto 64.876 4.157 (1.503) 67.530 - 67.530 Other income (expenses) - net

Laba sebelum pajak final dan Profit before final tax andpajak penghasilan (13.398) 73.260 311.682 371.544 5.274 376.818 income tax

Beban pajak final (16.017) (4.833) (4.161) (25.011) - (25.011) Final tax expense

Laba sebelum pajak penghasilan (29.415) 68.427 307.521 346.533 5.274 351.807 Profit before income tax

Beban pajak penghasilan 5.528 (9.220) (71.799) (75.491) - (75.491) Income tax expense

Laba tahun berjalan (23.887) 59.207 235.722 271.042 5.274 276.316 Profit for the year

Penghasilan komprehensif lain 11.759 1.734 1.326 14.819 (3.060) 11.759 Other comprehensive income

Total laba komprehensif Total comprehensive incometahun berjalan (12.128) 60.941 237.048 285.861 2.214 288.075 for the year

Informasi-informasi lain Other informationTotal aset 4.127.301 884.244 1.378.949 6.390.494 (733.167) 5.657.327 Total assetsTotal liabilitas 1.660.843 172.267 715.780 2.548.890 (191.763) 2.357.127 Total liabilitiesEkuitas - neto 2.466.455 711.977 663.172 3.841.604 (541.404) 3.300.200 Equity - netPenyusutan dan amortisasi 271.776 85.625 34.930 392.331 (5.886) 386.445 Depreciation and amortizationPenambahan aset tetap 371.933 43.739 106.738 522.410 (438) 521.972 Additions of fixed assets

Informasi tentang pelanggan utama Information on major customers

Berikut ini adalah alokasi pendapatan usaha Grupberdasarkan kelompok pelanggan:

The following is the Group’s operating revenuesallocation based on customer grouping:



2019 2018

Pihak ketiga Third partiesBahan bakar minyak 1.676.523 1.966.388 Fuel oilKontraktor bagi hasil 347.119 39.054 Production sharing contractorsPelanggan eceran/masyarakat 37.913 101.187 Retail customers/publicLainnya 137.292 59.201 Others

2.198.847 2.165.830Pihak berelasi (Catatan 30i) 6.186.275 4.458.944 Related parties (Note 30i)

Total 8.385.122 6.624.774 Total

Grup tidak bergantung pada pendapatan dari suatupelanggan tertentu karena jasa-jasa yangdisediakan oleh Grup bukan merupakan jenis jasayang secara khusus diberikan untuk satu kelompokpelanggan tertentu.

The Group does not rely on revenue from any specificcustomer group due to the services provided by theGroup are not being provided exclusively to a certaingroup of customers.











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33. LABA PER SAHAM 33. EARNINGS PER SHARE

Rekonsiliasi perhitungan laba per saham adalahsebagai berikut:

The reconciliation of earnings per share calculation isas follows:



2019 2018

Laba periode berjalan yang dapatdiatribusikan kepada pemilik Profit for the period attributable toentitas induk 356.474 276.314 owners of the parent

Jumlah rata-rata tertimbang saham 7.298.500.000 7.298.500.000 Weighted average number of shares

Laba per saham (nilai penuh) 48,84 37,86 Earnings per share (full amount)

Pada tanggal 31 Desember 2019 dan 2018, tidakterdapat efek yang berpotensi dikonversi menjadisaham biasa yang dapat menimbulkan pengaruhdilusi pada laba per saham.

As of December 31, 2019 and 2018, there were nosecurities potentially converted into ordinary sharesthat would give rise to a dilution of earnings per share.

34. PENGUKURAN NILAI WAJAR 34. FAIR VALUE MEASUREMENT

Nilai wajar didefinisikan sebagai jumlah dimanainstrumen tersebut dapat dipertukarkan di dalamtransaksi jangka pendek antara pihak yangberkeinginan dan memiliki pengetahuan yangmemadai melalui suatu transaksi yang wajar, selaindi dalam penjualan terpaksa atau penjualanlikuidasi.

Fair value is defined as the amount at which aninstrument could be exchanged in a currenttransaction between knowledgeable willing parties inan arm's length transaction, other than in a forced orliquidation sale.

Instrumen keuangan yang disajikan dalam laporanposisi keuangan konsolidasian dicatat sebesar nilaiwajar, atau disajikan dalam jumlah tercatat, baikkarena jumlah tersebut mendekati nilai wajarnyaatau karena nilai wajarnya tidak dapat diukur secarahandal.

Financial instruments presented in the consolidatedstatement of financial position are carried at fair value,otherwise, they are presented at carrying amounts aseither these are reasonable approximation of fairvalues or their fair values cannot be reliably measured.

Grup menentukan pengukuran nilai wajar untuktujuan pengungkapan setiap aset keuangan danliabilitas keuangan berdasarkan metode dan asumsisebagai berikut:

The Group determined the fair value measurement fordisclosure purposes of each financial asset andfinancial liability based on the following methods andassumptions:

- Nilai wajar aset keuangan lancar dan liabilitaskeuangan jangka pendek yang mencakup,antara lain, kas dan setara kas, piutang usaha,aset keuangan lancar lainnya, pinjaman bankjangka pendek, utang usaha, liabilitas jangkapendek lainnya - utang lain-lain dan titipanpelanggan dan beban akrual, dianggapmendekati jumlah tercatatnya.

- The fair value of current financial assets andcurrent financial liabilities which includes, amongothers, cash and cash equivalents, tradereceivables, other current financial assets, short-term bank loans, trade payables, other non-current liabilities - other payables and customerdeposits and accrued expenses, are consideredto approximate their carrying amounts.

- Estimasi nilai wajar aset keuangan tidak lancarlainnya ditentukan dengan mendiskontokanarus kas masa depan menggunakan tingkatsuku bunga bebas risiko untuk instrumenserupa.

- The estimated fair values of other non-currentfinancial assets are determined by discounting thefuture cash flows using risk-free interest rates forsimilar instruments.











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34. PENGUKURAN NILAI WAJAR (lanjutan) 34. FAIR VALUE MEASUREMENT (continued)

- Aset keuangan tersedia untuk dijual yang terdiridari investasi pada saham dengan persentasekepemilikan di bawah 20% dicatat pada biayaperolehan karena investasi pada instrumenekuitas tersebut tidak memiliki kuotasi harga dipasar aktif dan nilai wajarnya tidak dapat diukursecara handal.

- Available-for-sale financial asset that comprisedinvestments in shares with percentage ofownership interest less than 20% are recognizedat cost due to such investments in equityinstruments have no quoted market price in anactive market and their fair value cannot bereliably measureable.

- Estimasi nilai wajar pinjaman bank jangkapanjang ditentukan dengan mendiskontokanarus kas masa depan dengan menggunakantingkat suku bunga pasar untuk instrumendengan syarat, risiko kredit dan jatuh tempoyang serupa.

- The estimated fair values of long-term bank loansare determined by discounting the future cashflows using market interest rates for instrumentswith similar terms, credit risk and remainingmaturities.

Tabel berikut menyajikan perbandingan jumlahtercatat dengan estimasi nilai wajar instrumenkeuangan dalam laporan posisi keuangankonsolidasian.

The following table presents the comparison betweenthe carrying amounts and the estimated fair values offinancial instruments in the consolidated statement offinancial position.

31 Desember/ 31 Desember/December 31, December 31,

2019 2018

Jumlah Estimasi Jumlah Estimasitercatat/ nilai wajar/ tercatat/ nilai wajar/Carrying Estimated Carrying Estimatedamount fair value amount fair value

Aset keuangan Financial assetsKas dan setara kas 856.122 856.122 719.457 719.457 Cash and cash equivalentsPiutang usaha - neto 2.089.958 2.089.958 1.571.843 1.571.843 Trade receivables - netAset keuangan lancar lainnya - Other current financial

neto 35.124 35.124 21.090 21.090 assets - netAset keuangan tidak lancar Other non-current financial

lainnya - neto 464.953 464.953 163.961 163.961 assets - net

Total 3.446.157 3.446.157 2.476.351 2.476.351 Total

Liabilitas keuangan Financial liabilitiesPinjaman bank jangka pendek 309.302 309.302 608.865 608.865 Short-term bank loansUtang usaha 692.797 692.797 517.470 517.470 Trade payablesLiabilitas jangka pendek lainnya Other current liabilities

Titipan pelanggan 28.033 28.033 23.962 23.962 Customer depositsUtang lain-lain 16.259 16.259 15.812 15.812 Other payables

Liabilitas imbalan kerja Short-term employeejangka pendek 119.055 119.055 85.031 85.031 benefits liability

Beban akrual 1.004.400 1.004.400 822.079 822.079 Accrued expensesPinjaman bank jangka panjang 817.738 817.738 212.550 212.550 Long-term bank loans

Total 2.987.584 2.987.584 2.285.769 2.285.769 Total

Hirarki Nilai Wajar Fair Value Hierarchy

Aset dan liabilitas keuangan diklasifikasikan secarakeseluruhan berdasarkan tingkat terendah darimasukan (input) yang signifikan terhadappengukuran nilai wajar. Penilaian dampak signifikandari suatu input tertentu terhadap pengukuran nilaiwajar membutuhkan pertimbangan dan dapatmempengaruhi penilaian dari aset dan liabilitas yangdiukur dan penempatannya dalam hirarki nilai wajar.

Financial assets and liabilities are classified in theirentirety based on the lowest level of input that issignificant to the fair value measurements. Theassessment of the significance of a particular input tothe fair value measurements requires judgement andmay affect the valuation of the assets and liabilitiesbeing measured and their placement within the fairvalue hierarchy.











101


Hirarki Nilai Wajar (lanjutan) Fair Value Hierarchy (continued)

Bukti terbaik dari nilai wajar adalah harga yangdikuotasikan (quoted prices) dalam sebuah pasaryang aktif. Jika pasar untuk sebuah instrumenkeuangan tidak aktif, entitas menetapkan nilai wajardengan menggunakan metode penilaian. Tujuandari penggunaan metode penilaian adalah untukmenetapkan harga transaksi yang terbentuk padatanggal pengukuran dalam sebuah transaksipertukaran yang wajar dengan pertimbangan bisnisnormal. Metode penilaian termasuk penggunaanharga dalam transaksi pasar yang wajar (arm’slength) terakhir antara pihak-pihak yang memahamidan berkeinginan, jika tersedia, referensi kepadanilai wajar terkini dari instrumen lain yang secarasubstansial sama, analisa arus kas yangdidiskontokan dan model harga opsi (option pricingmodels).

The best evidence of fair value is quoted prices in anactive market. If the market for a financial instrumentis not active, an entity establishes fair value by using avaluation technique. The objective of using a valuationtechnique is to establish what the transaction pricewould have been on the measurement date in an arm'slength exchange motivated by normal businessconsiderations. Valuation techniques include usingrecent arm's length market transactions betweenknowledgeable and willing parties, if available,reference to the current fair value of anotherinstrument that is substantially the same, discountedcash flow analysis and option pricing models.

Jika terdapat metode penilaian yang biasadigunakan oleh para peserta pasar untukmenentukan harga dari instrumen dan metodetersebut telah didemonstrasikan untuk menyediakanestimasi yang handal atas harga yang diperoleh daritransaksi pasar yang aktual, entitas harusmenggunakan metode tersebut. Metode penilaianyang dipilih membuat penggunaan maksimum dariinput pasar dan bergantung sedikit mungkin atasinput yang spesifik untuk entitas (entity-specificinputs). Metode tersebut memperhitungkan semuafaktor yang akan dipertimbangkan oleh pesertapasar dalam menentukan sebuah harga dan selarasdengan metode ekonomis untuk penilaian sebuahinstrumen keuangan. Secara berkala, Grupmenelaah metode penilaian dan mengujinya untukvaliditas dengan menggunakan harga dari transaksipasar terkini yang dapat diobservasi untukinstrumen yang sama (yaitu tanpa modifikasi danpengemasan kembali) atau berdasarkan data pasaryang tersedia dan dapat diobservasi.

If there is a valuation technique commonly used bymarket participants to price the instrument and thattechnique has been demonstrated to provide reliableestimates of prices obtained in actual markettransactions, the entity must uses that technique. Thechosen valuation technique makes maximum use ofmarket inputs and relies as little as possible on entity-specific inputs. It incorporates all factors that marketparticipants would consider in setting a price and isconsistent with accepted economic methodologies forpricing financial instruments. Periodically, the Groupcalibrates the valuation technique and tests it forvalidity using prices from any observable currentmarket transactions in the same instrument(i.e., without modification or repackaging) or based onany available observable market data.

Grup menggunakan hirarki di bawah untukmenentukan dan menyajikan nilai wajar dariinstrumen keuangan dalam melakukan pengukuran:

The Group uses the hierarchy to determine andpresent the fair value of financial instruments tomeasure:

• Tingkat 1 : Nilai wajar diukur berdasarkan padaharga kuotasi (tidak disesuaikan)dalam pasar aktif untuk aset atauliabilitas sejenis.

• Level 1 : Fair value measured based on quotedprices (unadjusted) in active marketsfor identical assets or liabilities.











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Hirarki Nilai Wajar (lanjutan) Fair Value Hierarchy (continued)

• Tingkat 2 : Nilai wajar diukur berdasarkanteknik-teknik valuasi, yaitu untukseluruh input yang diketahui baiksecara langsung ataupun tidaklangsung memiliki dampaksignifikan atas nilai wajar tercatat.

• Level 2 : Fair value measured based onvaluation techniques for which allinputs which have a significant effecton the recorded fair values areobservable, either directly or indirectly.

• Tingkat 3 : Nilai wajar diukur berdasarkanteknik-teknik valuasi, yaitu untukseluruh input yang tidak dapatdiketahui baik secara langsungataupun tidak langsung memilikidampak signifikan atas nilai wajartercatat.

• Level 3 : Fair value measured based onvaluation techniques for which anyinputs which have a significant effecton the recorded fair values that are notbased on observable market data(unobservable inputs).

Hirarki nilai wajar Grup pada tanggal 31 Desember2019 dan 2018 adalah sebagai berikut:

Fair value hierarchy of the Group as of December 31,2019 and 2018 are as follows:


Total/ Level 1/ Level 2/ Level 3/Total Level 1 Level 2 Level 3

Aset yang nilai wajarnya diungkapkan Assets for which fair value are disclosedAset tidak lancar Non-current AssetsAset tetap *) 1.772.370 - 1.772.370 - Fixed assets *)Properti investasi 434.183 - 434.183 - Investment properties

*) Untuk aset tetap dengan nilai buku sebesar Rp1.496.422/For fixed assets with net book value of Rp1,496,422


Total/ Level 1/ Level 2/ Level 3/Total Level 1 Level 2 Level 3

Aset yang nilai wajarnya diungkapkan Assets for which fair value are disclosedAset tidak lancar Non-current AssetsAset tetap *) 1.119.070 - 1.119.070 - Fixed assets *)Properti investasi 399.544 - 399.544 - Investment properties

*) Untuk aset tetap dengan nilai buku sebesar Rp164.133/For fixed assets with net book value of Rp164,133

Pada tanggal 31 Desember 2019, tidak terdapatpengalihan antara pengukuran nilai wajar level 1 danlevel 2.

As of December 31, 2019, there is no transfer betweenmeasurement of fair value of level 1 and level 2.

Tidak terdapat aset dan liabilitas lain yang diukurdan diungkapkan selain yang telah dijelaskan diatas.

No other assets and liabilities have been measuredand disclosed other than above explained.











103

35. MANAJEMEN RISIKO KEUANGAN 35. FINANCIAL RISK MANAGEMENT

Risiko utama dari instrumen keuangan Grup adalahrisiko tingkat suku bunga, risiko mata uang, risikokredit dan risiko likuiditas. Penelaahan Direksi dankebijakan yang disetujui untuk mengelola masing-masing risiko ini dijelaskan secara detail sebagaiberikut:

The main risks arising from the Group’s financialinstruments are interest rate risk, currency risk, creditrisk and liquidity risk. The Directors review andapprove policies for managing each of these risks,which are described in more detail as follows:

a. Risiko tingkat suku bunga a. Interest rate risk

Risiko tingkat suku bunga Grup terutama timbuldari pinjaman untuk tujuan modal kerja daninvestasi. Pinjaman pada tingkat suku bungamengambang membuat Grup tereksposterhadap risiko suku bunga atas arus kas.

The Group’s interest rate risk mainly arises fromloans for working capital and investmentpurposes. Loans at floating rates expose theGroup to cash flow interest rate risk.

Untuk pinjaman modal kerja dan investasi, Grupberusaha mengurangi risiko tingkat sukubunganya dengan cara mendapatkan strukturpinjaman dengan suku bunga kompetitif.

For working capital and investment loans, theGroup may seek to mitigate its interest rate risk byobtaining loans structured with competitiveinterest rates.

Tabel berikut ini menunjukkan sensitivitasperubahan tingkat suku bunga pinjaman.Dampak perubahan tingkat suku bungapinjaman terhadap laba sebelum pajakpenghasilan adalah sebagai berikut:

The following table demonstrates the sensitivity tochanges in interest rates of the loans. The effectof changes in interest rates of the loans to profitbefore income tax is as follows:



2019 2018

Kenaikan 50 basis poin 2.429 4.689 Increase by 50 basis pointsPenurunan 50 basis poin (2.429) (4.689) Decrease by 50 basis points

Penurunan/kenaikan laba sebelum pajakpenghasilan tersebut terutama sebagai akibatkenaikan/penurunan biaya bunga ataspinjaman dengan tingkat bunga mengambang.Analisis mengasumsikan bahwa seluruhvariabel lain tetap tidak berubah.

Such decrease/increase in profit before incometax is mainly as a result of higher/lower interestexpense on loans with floating interest rates. Theanalysis assumes that all other variables remainconstant.

b. Risiko mata uang asing b. Foreign currency risk

Mata uang fungsional Grup adalah Rupiah.Grup dapat menghadapi risiko nilai tukar matauang asing karena pinjaman, pendapatan danbiaya beberapa pembelian utamanya dalammata uang Dolar AS atau harganya secarasignifikan dipengaruhi oleh perubahan tolakukur harganya dalam mata uang asing(terutama Dolar AS). Apabila pendapatan danpembelian Grup di dalam mata uang selainRupiah tidak seimbang dalam hal jumlahdan/atau pemilihan waktu, Grup tereksposrisiko mata uang asing.

The Group’s functional currency is the Rupiah.The Group faces foreign exchange risk as itsborrowings, revenues and the costs of certain keypurchases are either denominated in US Dollarsor their prices are significantly influenced by theirbenchmark price movements in foreign currencies(mainly US Dollars). To the extent that therevenue and purchases of the Group aredenominated in currencies other than Rupiah, andare not evenly matched in terms of amount and/ortiming, the Group has exposure to foreigncurrency risk.











104

35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued)

b. Risiko mata uang asing (lanjutan) b. Foreign currency risk (continued)

Grup tidak mempunyai kebijakan lindung nilaiyang formal untuk laju pertukaran mata uangasing. Bagaimanapun, terkait dengan hal-halyang telah didiskusikan pada paragraf di atas,fluktuasi dalam nilai tukar Rupiah dan Dolar ASmenghasilkan lindung nilai natural untuk lajunilai tukar Grup.

The Group does not have any formal hedgingpolicy for foreign exchange exposure. However, inrelation to the matters discussed in the precedingparagraph, the fluctuations in the exchange ratesbetween the Rupiah and US Dollar provide somedegree of natural hedge for the Group’s foreignexchange exposure.

Grup memiliki aset dan liabilitas moneter dalammata uang asing sebagai berikut:

The Group’s monetary assets and liabilitiesdenominated in foreign currencies are as follows:

31 Desember/December 31, 2019 31 Desember/December 31, 2018

Dalam mata Setara dalam Dalam mata Setara dalamuang asing/ Rupiah/ uang asing/ Rupiah/In foreign Equivalent In foreign Equivalentcurrencies in Rupiah currencies in Rupiah

Aset AssetsKas dan setara kas $AS 18.868.070 262.285 $AS 13.485.465 195.283 Cash and cash equivalents

Piutang usaha $AS 49.180.239 683.655 $AS 39.362.061 570.002 Trade receivables$SG 25.289 261 $SG 25.268 268

Aset keuangan lancar lainnya $AS 726.020 10.092 $AS 674.172 9.763 Other current financial assetsAset keuangan tidak lancar

lainnya $AS 1.478.769 20.556 $AS 464.958 6.733 Other non-current financial assetsAset lain-lain $AS 509 7 $AS 509 7 Other assets

€ 242.500 3.780 € 242.500 4.016

Total 980.636 786.072 Total

Liabilitas LiabilitiesPinjaman bank jangka pendek $AS 5.960.951 82.863 $AS 28.893.999 418.414 Short-term bank loansUtang usaha $AS 2.404.331 33.423 $AS 3.525.299 51.050 Trade payables

$SG 523.564 5.403 $SG 197.071 2.090€ 66.845 1.042 € -

Liabilitas jangka pendek lainnya $AS 201.222 2.797 $AS 100.379 1.454 Other current liabilitiesBeban akrual $AS 12.678.189 176.240 $AS 9.036.801 130.862 Accrued expenses

$SG - $SG 208.533 2.211Pinjaman bank jangka

Panjang $AS 48.750.000 677.674 $AS 15.000.000 217.215 Long-term bank loans

Total 979.442 823.296 Total

Aset (liabilitas) neto 1.194 (37.224) Net assets (liabilities)

Apabila aset dan liabilitas moneter dalam matauang asing pada tanggal 31 Desember 2019dijabarkan ke dalam Rupiah denganmenggunakan kurs tengah transaksi yangdipublikasikan Bank Indonesia pada tanggal14 Februari 2020, maka aset moneter neto akanbertambah sebesar Rp49.

Had monetary assets and liabilities denominatedin foreign currencies as of December 31, 2019been translated to the Rupiah using the middlerate transaction published by Bank Indonesia asof February 14, 2020, the net monetary assetswould have been increased by approximatelyRp49.

Tabel berikut ini menunjukkan sensitivitasperubahan nilai tukar mata uang asing. Dampakperubahan nilai tukar mata uang asing terhadaplaba sebelum pajak penghasilan adalahsebagai berikut:

The following table demonstrates the sensitivity tochanges in the exchange rate of foreigncurrencies. The effect of changes in the exchangerate of foreign currencies to profit before incometax is as follows:











105


b. Risiko mata uang asing (lanjutan) b. Foreign currency risk (continued)



2019 2018

Penguatan 1% 12 373 Strengthening by 1%Pelemahan 1% (12) (373) Weakening by 1%

Analisis mengasumsikan bahwa seluruhvariabel lain, khususnya tingkat suku bunga,tetap tidak berubah dan mengabaikan dampakatas perkiraan penjualan dan pembelian.

The analysis assumes that all other variables, inparticular interest rates, remain constant andignores any impact of forecasted sales andpurchases.

c. Risiko kredit c. Credit risk

Eksposur maksimum Grup terhadap risikokredit adalah senilai dengan jumlah tercatat darisetiap aset keuangan.

The Group’s maximum exposure to credit risk isequal to the carrying amount of each financialassets.

Risiko kredit utama yang dihadapi oleh Grupberasal dari kredit yang diberikan kepadapelanggan. Untuk meringankan risiko ini, adakebijakan untuk memastikan penjualanjasa/produk hanya dibuat kepada pelangganyang dapat dipercaya dan terbukti mempunyairekam jejak atau sejarah kredit yang baik. Inimerupakan kebijakan Grup dimana semuapelanggan yang akan melakukan pembelianjasa/produk secara kredit harus melaluiprosedur verifikasi kredit. Untuk pendapatan,Grup memberikan jangka waktu kredit darifaktur yang diterbitkan. Sebagai tambahan,saldo piutang dipantau secara terus menerusuntuk mengurangi kemungkinan piutang yangtidak tertagih.

The main credit risk faced by the Group arisesfrom the credit granted to its customers. Tomitigate this risk, it has policies in place to ensurethat sales of services/products are made only tocreditworthy customers with proven track recordsor good credit history. It is the Group’s policy thatall customers who wish to trade services/productson credit are subject to credit verificationprocedures. For revenues, the Group may grantits customers credit terms from the issue ofinvoices. In addition, receivables balances aremonitored on an ongoing basis to reduceexposure to bad debts.

Tabel berikut menyajikan analisis umur piutangusaha.

The following table presents the aging analysis oftrade receivables.


2019 2018______

Belum jatuh tempo 1.522.730 1.168.704 Not yet overdue

Lewat jatuh tempo Overdue1-30 hari 517.874 295.428 1-30 days31-60 hari 7.986 29.683 31-60 days61-150 hari 27.293 41.173 61-150 daysLebih dari 150 hari 175.007 188.911 Over 150 days

Total 2.250.890 1.723.899 TotalPenyisihan penurunan nilai (160.932) (152.056) Allowance for impairment

Neto 2.089.958 1.571.843 Net











106


c. Risiko kredit c. Credit risk

Risiko piutang usaha yang belum jatuh tempodan tidak mengalami penurunan nilai untukmengalami penurunan nilai adalah kecil karenadebitur memiliki rekam jejak yang baik denganGrup.

The risk of trade receivables that are neitheroverdue nor impaired becoming impaired is low asthe parties have a good track record with theGroup.

Tergantung pada penilaian Grup, penyisihankhusus mungkin dibuat jika piutang dianggaptidak tertagih.

Depending on the Group’s assessment, specificallowance may be made if a receivable wasdeemed uncollectible.

Aset keuangan tidak lancar lainnya tertentumengalami penurunan nilai yaitu terkait denganefek perubahan nilai waktu uang atas klaimdeposito ke Bank Mega (Catatan 10 dan 31a).

Certain other non-current financial assets havebeen impaired related to the impact of time valueof money from claim of deposits to Bank Mega(Notes 10 and 31a).

d. Risiko likuiditas d. Liquidity risk

Grup mengelola profil likuiditasnya untuk dapatmendanai pengeluaran modalnya danmengelola utang yang jatuh tempo denganmenjaga kas yang cukup dan ketersediaanpendanaan melalui jumlah fasilitas kreditberkomitmen yang cukup.

The Group manages its liquidity profile to be ableto finance its capital expenditure and manage itsmaturing debts by maintaining sufficient cash andthe availability of funding through an adequateamount of committed credit facilities.

Grup secara reguler mengevaluasi proyeksiarus kas dan terus menerus menilai kondisipasar keuangan untuk mengevaluasikemungkinan mengejar inisiatif penggalangandana.

The Group regularly evaluates its projected andactual cash flow information and continuouslyassesses conditions in the financial markets toevaluate the possibility of pursuing fund-raisinginitiatives.

Tabel berikut menyajikan profil jangka waktupembayaran liabilitas keuangan Grupberdasarkan pembayaran kontraktual yangtidak didiskontokan.

The following table presents the maturity profile ofthe Group’s financial liabilities based onundiscounted contractual payments.


Biaya Jumlahpinjaman/ tercatat/

< 1 tahun/ 1-2 tahun/ 2-3 tahun/ Costs of Carrying< 1 year 1-2 years 2-3 years Total loan amounts

Pinjaman bank jangkapendek 309.302 - - 309.302 - 309.302 Short-term bank loans

Utang usaha 692.797 - - 692.797 - 692.797 Trade payablesLiabilitas jangka pendek

lainnya Other current liabilitiesUtang lain-lain 16.259 - - 16.259 - 16.259 Other payablesTitipan pelanggan 28.033 - - 28.033 - 28.033 Customer deposits

Liabilitas imbalan kerja Short-term employeejangka pendek 119.055 - - 119.055 - 119.055 benefits liability

Beban akrual 1.004.400 - - 1.004.400 - 1.004.400 Accrued expensesPinjaman bank jangka

panjang 241.009 536.719 44.726 822.454 (4.716) 817.738 Long-term bank loans

Total 2.410.855 536.719 44.726 2.992.300 (4.716) 2.987.584 Total











107


d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued)


Biaya Jumlahpinjaman/ tercatat/

< 1 tahun/ 1-2 tahun/ 2-3 tahun/ Costs of Carrying< 1 year 1-2 years 2-3 years Total loan amounts

Pinjaman bank jangkapendek 608.865 - - 608.865 - 608.865 Short-term bank loans

Utang usaha 517.470 - - 517.470 - 517.470 Trade payablesLiabilitas jangka pendek

lainnya Other current liabilitiesUtang lain-lain 15.812 - - 15.812 - 15.812 Other payablesTitipan pelanggan 23.962 - - 23.962 - 23.962 Customer deposits

Liabilitas imbalan kerja Short-term employeejangka pendek 85.031 - - 85.031 - 85.031 benefits liability

Beban akrual 822.079 - - 822.079 - 822.079 Accrued expensesPinjaman bank jangka

panjang - 132.742 84.473 217.215 (4.665) 212.550 Long-term bank loans

Total 2.073.219 132.742 84.473 2.290.434 (4.665) 2.285.769 Total

e. Pengelolaan modal e. Capital management

Tujuan Grup dalam pengelolaan modal adalahuntuk mempertahankan kelangsungan usahaGrup guna memberikan imbal hasil kepadapemegang saham dan manfaat kepadapemangku kepentingan lainnya serta menjagastruktur modal yang optimal yang meliputi utangdan ekuitas untuk mengurangi biaya modal.

The Group’s objectives when managing capitalare to safeguard the Group’s ability to continue asa going concern in order to provide returns forshareholders and benefits to other stakeholdersand to maintain an optimum capital structurecovering debt and equity to minimise the cost ofcapital.

Secara periodik, Grup melakukan penilaianutang untuk menilai kemungkinan pembiayaankembali utang yang ada dengan utang baruyang memiliki biaya yang lebih efisien sehinggamengoptimalkan biaya utang.

Periodically, the Group conducts debt valuation toassess possibilities of refinancing existing debtswith new ones which have more efficient cost thatwill lead to more optimized cost-of-debt.

Grup dipersyaratkan oleh Undang-undangNo. 40 tahun 2007 tentang Perseroan Terbatasuntuk mengalokasikan dana cadangan yangtidak boleh didistribusikan sampai dengan 20%dari modal saham ditempatkan dan disetorpenuh. Persyaratan permodalan eksternaltersebut dipertimbangkan oleh Grup dalamRapat Umum Pemegang Saham.

The Group is required by the Limited LiabilityCompany Law No. 40 of 2007 to allocate andmaintain a non-distributable reserve fund untilsuch reserve reaches 20% of the issued and fullypaid capital stock. This externally imposed capitalrequirement is considered by the Group in theGeneral Meeting of Shareholders.

Perusahaan dan EPN dipersyaratkan untukmemelihara tingkat permodalan tertentu olehperjanjian pinjaman bank (Catatan 15 dan 20).Pada tanggal 31 Desember 2019 dan 2018,persyaratan permodalan eksternal tersebuttelah dipenuhi.

The Company and EPN are required to maintaincertain level of capital by bank loan agreements(Notes 15 and 20). As of December 31, 2019 and2018, this externally imposed capital requirementhas been complied.

Strategi Grup adalah mempertahankan rasioutang terhadap ekuitas maksimal sebesar3 kali dan rasio pengembalian utang minimalsebesar 1,1 kali.

The Group’s strategy is to maintain the maximumdebt to equity ratio at 3 times and the minimumdebt service coverage ratio at 1.1 times.

Rasio utang terhadap ekuitas dihitungberdasarkan total liabilitas dibandingkandengan ekuitas neto. Perhitungan rasio utangterhadap ekuitas adalah sebagai berikut:

Debt to equity ratio was calculated by comparingtotal liabilities to net equity. The calculation of debtto equity ratios is as follows:











108


e. Pengelolaan modal (lanjutan) e. Capital management (continued)


2019 2018

Total liabilitas 3.228.339 2.357.127 Total liabilitiesEkuitas - neto 3.576.698 3.300.200 Equity - net

Rasio utang terhadap ekuitas 0,90 0,71 Debt to equity ratio

Rasio pengembalian utang dihitungberdasarkan laba sebelum pajak, bunga,penyusutan dan amortisasi dikurangi dividenterhadap pembayaran pokok dan bunga.Pembayaran pokok dan bunga tidak termasukpelunasan yang dipercepat. Perhitungan rasiopengembalian utang adalah sebagai berikut:

Debt service coverage ratio was calculated bycomparing earning before tax, interest,depreciation and amortization less dividend toprincipal and interest payment. Principal andinterest payment exclude early repayment made.The calculation of debt service coverage ratios isas follows:



2019 2018

Laba sebelum pajak, bunga, Profit before tax, interest, depreciationpenyusutan dan amortisasi 950.359 767.220 and amortization

Dividen 69.079 37.071 DividendPembayaran pokok dan bunga 145.684 163.399 Principal and interest payment

Rasio pengembalian utang 6,05 4,47 Debt service coverage ratio

36. TAMBAHAN INFORMASI ARUS KAS 36. SUPPLEMENTARY CASH FLOWS INFORMATION

Aktivitas signifikan yang tidak mempengaruhi aruskas Grup adalah sebagai berikut:

Significant activities which did not affect the Group’scash flows are as follows:



2019 2018

Penambahan aset tetap melalui: Addition of fixed assets through:Utang usaha 104.051 36.200 Trade payable

Perubahan pada liabilitas yang timbul dari aktivitaspendanaan pada laporan arus kas konsolidasianadalah sebagai berikut:

Movement of liabilities arising from financing activitiesin the consolidated statement of cash flows are asfollows:

Non- arus kas/Non-cash flow

31 DesemberSelisih kurs/ 2019/

1 Januari 2019/ Arus kas/ Foreign exchange Lainnya/ December 31,January 1, 2019 Cash flow difference Others 2019

Pinjaman bank jangka pendek 608.865 (292.425) (7.138) - 309.302 Short-term bank loansPinjaman bank jangka panjang 212.550 619.397 (9.492) (4.717) 817.738 Long-term bank loans

Total 821.415 326.972 (16.630) (4.717) 1.127.040 Total



Lampiran 1 Appendix 1

109

Berikut ini adalah Informasi Keuangan terpisahPT Elnusa Tbk (Entitas Induk), terdiri dari laporanposisi keuangan Entitas Induk pada tanggal31 Desember 2019 dan laporan laba rugi danpenghasilan komprehensif lainnya, laporanperubahan ekuitas dan arus kas Entitas Induk terkaituntuk tahun yang berakhir 31 Desember 2019, danikhtisar kebijakan akuntansi signifikan. InformasiKeuangan Entitas Induk disajikan sebagai informasitambahan terhadap laporan keuangankonsolidasian Perusahaan dan entitas anaknyapada tanggal 31 Desember 2019 dan untuk tahunyang berakhir pada tanggal tersebut.

The following is separate PT Elnusa Tbk (the ParentEntity) Financial Information, consisting of thestatements of financial position of the Parent Entity asof December 31, 2019 and the related separatestatements of profit or loss and other comprehensiveincome, changes in equity and cash flows of theParent Entity for the year ended December 31, 2019,and a summary of significant accounting policies. TheParent Entity Financial Information is presented assupplementary information to the consolidatedfinancial statements of the Company andits subsidiaries as of December 31, 2019 and for theyear the ended.

PT ELNUSA Tbk(ENTITAS INDUK SAJA)

LAPORAN POSISI KEUANGANTanggal 31 Desember 2019


PT ELNUSA Tbk(PARENT ENTITY ONLY)

STATEMENT OF FINANCIAL POSITIONAs of December 31, 2019



2019 2018

ASET ASSETS

ASET LANCAR CURRENT ASSETSKas dan setara kas 339.977 250.852 Cash and cash equivalentsPiutang usaha - neto Trade receivables - net

Pihak ketiga 104.449 165.952 Third partiesPihak berelasi 1.408.430 914.259 Related parties

Aset keuangan lancar lainnya - neto: 2.795 500 Other current receivables - net:Persediaan - neto 91.138 87.342 Inventories - netUang muka 98.800 77.007 AdvancesPajak dibayar di muka - bagian lancar 216.829 379.742 Prepaid taxes - current portionBiaya dibayar di muka 10.720 5.566 Prepaid expenses

Total Aset Lancar 2.273.138 1.881.220 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETSAset keuangan tidak lancar Other non-current financial

lainnya - neto 125.849 110.652 assets - netInvestasi pada saham - neto 526.377 526.377 Investments in shares - netPiutang pihak berelasi 6.224 Due from related partiesUang muka 44.001 21.119 AdvancesAset tetap - neto 1.027.237 1.077.721 Fixed assets - netAset takberwujud - neto 12.415 18.065 Intangible assets - netProperti investasi - neto 132.638 132.756 Investment properties - netPajak dibayar di muka - Prepaid taxes - non-current

bagian tidak lancar 261.690 211.284 portionAset pajak tangguhan 108.246 90.728 Deffered tax assetsAset lain-lain 70.605 55.235 Other assets

Total Aset Tidak Lancar 2.309.058 2.250.161 Total Non-current Assets

TOTAL ASET 4.582.196 4.131.381 TOTAL ASSETS




110


LAPORAN POSISI KEUANGANTanggal 31 Desember 2019



STATEMENT OF FINANCIAL POSITIONAs of December 31, 2019



2019 2018

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIESPinjaman bank jangka pendek 189.505 592.597 Short-term bank loansUtang usaha: Trade payables:

Pihak ketiga 277.869 141.752 Third partiesPihak berelasi 67.708 43.446 Related parties

Liabilitas jangka pendek lainnya 29.047 29.502 Other current liabilitiesLiabilitas imbalan kerja Short-term employee

jangka pendek 76.952 85.031 benefits liabilityUtang pajak 44.958 21.776 Taxes payableBeban akrual 692.650 519.691 Accrued expensesPinjaman bank jangka panjang - Long-term bank loans -

bagian lancar 199.834 - current portion

Total Liabilitas Jangka Pendek 1.578.523 1.433.795 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIESPinjaman bank jangka panjang - Long-term bank loans -

setelah dikurangi bagian lancar 474.617 212.550 net of current portionLiabilitas imbalan kerja 39.801 14.502 Employee benefits liability

Total Liabilitas Jangka Panjang 514.418 227.052 Total Non-current Liabilities

TOTAL LIABILITAS 2.092.941 1.660.847 TOTAL LIABILITIES

EKUITAS EQUITYModal saham - nilai nominal Share capital - Rp100 (full amount)

Rp100 (nilai penuh) per saham par value per shareModal dasar - 22.500.000.000 saham Authorized - 22,500,000,000 sharesModal ditempatkan dan disetor penuh - Issued and fully paid -

7.298.500.000 saham 729.850 729.850 7,298,500,000 sharesTambahan modal disetor 453.011 453.011 Additional paid-in capitalSaldo laba: Retained earnings:

Dicadangkan 135.228 134.228 AppropriatedTidak dicadangkan 1.222.066 1.192.592 Unappropriated

Penghasilan komprehensif lain (50.900) (39.147) Other comprehensive income

EKUITAS - NETO 2.489.255 2.470.534 EQUITY - NET

TOTAL LIABILITAS DAN EKUITAS 4.582.196 4.131.381 TOTAL LIABILITIES AND EQUITY




111


LAPORAN LABA RUGI DAN PENGHASILANKOMPREHENSIF LAIN




STATEMENT OF PROFIT OR LOSSAND OTHER COMPREHENSIVE INCOME

As of December 31, 2019(Expressed in millions of Rupiah,




2019 2018

PENDAPATAN 3.926.605 2.666.814 REVENUES

BEBAN POKOK PENDAPATAN (3.632.940) (2.516.893) COST OF REVENUES

LABA BRUTO 293.665 149.921 GROSS PROFIT

Beban penjualan (2.722) (2.094) Selling expensesBeban umum dan administrasi (200.308) (151.933) General and administrative expensesPenghasilan bunga 3.716 5.052 Interest incomeBeban keuangan (25.385) (84.376) Finance expensesPenghasilan (beban) lain-lain - neto 62.029 156.179 Other income (expenses) - net

LABA SEBELUM PAJAK FINAL PROFIT BEFORE FINAL TAXDAN PAJAK PENGHASILAN 130.995 72.749 AND INCOME TAX

Beban pajak final (17.201) (16.017) Final tax expense

LABA SEBELUM PAJAK PENGHASILAN 113.794 56.732 PROFIT BEFORE INCOME TAX

Beban pajak penghasilan (14.241) 5.528 Income tax expense

LABA TAHUN BERJALAN 99.553 62.260 PROFIT FOR THE YEAR

PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Pos-pos yang tidak akan direklasifikasi Items that will not be reclassified toke laba rugi profit or loss

Pengukuran kembali program Remeasurements of definedimbalan pasti (15.671) 11.597 benefit plans

Pajak tangguhan terkait 3.918 (2.899) Related deferred tax

PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOMESETELAH PAJAK (11.753) 8.698 AFTER TAX

TOTAL LABA KOMPREHENSIF TOTAL COMPREHENSIVE INCOMETAHUN BERJALAN 87.800 70.958 FOR THE YEAR


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113

PT ELNUSA Tbk(ENTITAS INDUK SAJA)LAPORAN ARUS KAS




STATEMENT OF CASH FLOWAs of December 31, 2019




2019 2018

ARUS KAS DARI CASH FLOWS FROMAKTIVITAS OPERASI OPERATING ACTIVITIESPenerimaan dari pelanggan 3.346.227 2.519.975 Receipts from customersPembayaran kepada pemasok Payments to suppliers

dan kontraktor (2.594.387) (1.816.325) and contractorsPembayaran untuk karyawan (696.768) (515.281) Payments to employees

Kas yang dihasilkan dari operasi 55.072 188.369 Cash generated from operationsPenerimaan penghasilan bunga 3.690 4.995 Receipts of interest incomePembayaran beban keuangan (46.645) (39.243) Payments of finance expensesPembayaran pajak penghasilan (142.763) (118.391) Payments of income taxesPenerimaan restitusi pajak 368.433 28.096 Receipts of tax refundsPenerimaan lainnya - neto 1.290 6.483 Other receipts - net

Kas neto diperoleh dari Net cash provided byaktivitas operasi 239.077 70.309 operating activities

ARUS KAS DARI CASH FLOWS FROMAKTIVITAS INVESTASI INVESTING ACTIVITIESPenerimaan dividen kas dari Receipts of cash dividends from

perusahaan asosiasi 89.829 90.698 associatesPembelian aset tetap (207.586) (367.816) Purchases of fixed assetsPembelian aset takberwujud (1.611) (10.587) Purchases of intangible assetsPembelian barang konsumsi Purchases of long-life

tahan lama (28.169) (38.578) consumable goodsPenerimaan dari penjualan aset tetap 2.437 1.806 Proceeds from sale of fixed assetsPenambahan investasi di entitas anak - (1.030) Addition of investment in subsidiary

Kas neto diperoleh dari Net cash provided byaktivitas investasi (145.100) (325.507) investing activities

ARUS KAS DARI CASH FLOWS FROMAKTIVITAS PENDANAAN FINANCING ACTIVITIESPenerimaan dari pinjaman bank 1.854.709 1.411.350 Proceeds from bank loansPembayaran pinjaman bank (1.772.945) (1.289.560) Payments of bank loansPembayaran dividen kas (69.080) (37.076) Payments of cash dividendsPenarikan (penempatan) kas yang Withdrawal (placement) of

dibatasi penggunaannya - neto (13.291) (4.947) restricted cash - net

Kas neto diperoleh dari Net cash provided byaktivitas pendanaan (607) 79.767 financing activities

Dampak perubahan selisih kurs Effect of exchange rate changesterhadap kas dan setara kas (4.245) 13.724 on cash and cash equivalents

KENAIKAN (PENURUNAN) NETO NET INCREASE (DECREASE) INKAS DAN SETARA KAS 93.370 (161.707) CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTSPADA AWAL TAHUN 250.852 412.559 AT THE BEGINNING OF THE YEAR

KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTSAKHIR TAHUN 339.977 250.852 AT THE END OF THE YEAR




114


Tanggal 31 Desember 2019 dan untukTahun yang Berakhir pada Tanggal Tersebut



As of December 31, 2019, andFor the Year Then Ended


IKHTISAR KEBIJAKAN AKUNTANSI YANGPENTING

SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES

Dasar Penyajian Informasi Keuangan EntitasInduk

Basis of Preparation of Parent Entity FinancialInformation

Laporan keuangan tersendiri disajikan sesuaidengan Pernyataan Standar Akuntansi Keuangan(PSAK) No. 4 (Revisi 2009), “Laporan KeuanganKonsolidasian dan Tersendiri”.

The separate financial statements are preparedinaccordance with the Statement of FinancialAccounting Standards (PSAK) No. 4 (Revised 2009),“Consolidated and Separate Financial Statements”.

PSAK No. 4 (Revisi 2009) menyatakan bahwa ketikasebuah entitas induk memilih untuk menyajikanlaporan keuangan terpisah, laporan keuangantersebut seharusnya hanya disajikan sebagaiinformasi tambahan terhadap laporan keuangankonsolidasi. Laporan keuangan tersendiri yangdisajikan oleh entitas induk, di mana investasi dalamentitas anak, entitas asosiasi dan entitasdikendalikan bersama dicatat berdasarkan ataskepemilikan langsung dan bukan berdasarkan hasilyang dilaporkan dan aset neto entitas investasi.

PSAK No. 4 (Revised 2009) provides that whena parent entity chose to present the separate financialstatements, such financial statements should only bepresented as supplementary information to theconsolidated financial statements. Separate financialstatements are those presented by a parent, in whichthe investments in the subsidiary, associate entity andjointly controlled entity are accounted for on the basisof the direct equity interest rather than on the basis ofthe reported results and net assets of the investees.

Kebijakan akuntansi yang diterapkan dalampenyusunan informasi keuangan entitas indukadalah sama dengan kebijakan akuntansi yangdigunakan dalam penyusunan laporan keuangankonsolidasian Perusahaan dan entitas anaksebagaimana dijelaskan dalam Catatan 2 ataslaporan keuangan konsolidasi, kecuali untukinvestasi pada entitas anak.

Accounting policies adopted in the preparation of theparent entity financial information are the same as theaccounting policies adopted in the preparation of theCompany and its subsidiaries consolidated financialstatements as disclosed in Note 2 to the consolidatedfinancial statements, except for investments insubsidiaries.

Sesuai dengan PSAK No. 4 (Revisi 2009), entitasinduk mencatat investasi pada entitas anakmenggunakan metode biaya.

In accordance with PSAK No. 4 (Revised 2009),the parent entity recorded the accounting forinvestments in subsidiaries using cost method.

ANNU AL REPOR TLAPORAN TAHUNAN 20

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